Meat Testing Market Report, Global Industry Analysis, Market Size, Share, Growth Trends, Regional Outlook, Competitive Strategies and Segment Forecasts 2024 - 2030

  • Published Date: Jan, 2024
  • Report ID: CR0196744
  • Format: Electronic (PDF)
  • Number of Pages: 210
  • Author(s): Joshi, Madhavi

Report Overview

The Meat Testing Market size was estimated at USD 1.2 billion in 2023 and is projected to reach USD 2.1 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 8.70% during the forecast period (2024-2030).

Meat Testing Market

(Market Size)
$1.2 billion
$2.1 billion
2023
2030
Source: Citius Research
Study Period 2018 - 2030
Base Year For Estimation 2023
Forecast Data Period 2024 - 2030
CAGR (2024-2030) 8.70%
2023 Market Size USD 1.2 billion
2030 Market Size USD 2.1 billion
Key Players SGS, Eurofins, Intertek, Bureau Veritas, ALS

Market Summary

The meat testing market is an integral component of the global food safety and quality assurance landscape, primarily serving the food and beverages industry. This market encompasses a range of analytical procedures and technologies designed to detect contaminants, verify authenticity, assess nutritional content, and ensure overall meat product safety. Key testing parameters include pathogen detection, species identification, residue testing for veterinary drugs and pesticides, and assessment of physical and chemical properties. The increasing globalization of meat supply chains has heightened the need for robust testing protocols to comply with international safety standards and regulatory requirements. Companies and regulatory bodies rely on these testing services to prevent foodborne illnesses, avoid economic losses from recalls, and maintain consumer trust. The market is characterized by continuous technological advancements, with laboratories and manufacturers increasingly adopting rapid testing methods and automated systems to enhance accuracy and efficiency. This sector plays a critical role in safeguarding public health and ensuring the integrity of meat products from farm to fork.

Key Highlights

The meat testing market is distinguished by several key highlights that underscore its importance and evolution. Advanced technologies such as polymerase chain reaction (PCR), immunoassay, and chromatography are widely utilized for their precision in detecting contaminants and adulterants. The market has seen a significant shift towards rapid testing methods that provide results in minutes rather than days, enabling faster decision-making and reducing downtime in production facilities. Another highlight is the growing emphasis on meat speciation testing, driven by incidents of economic adulteration and mislabeling, which helps in verifying product authenticity and compliance with labeling laws. The integration of blockchain and IoT for traceability in meat supply chains is emerging as a trend, enhancing transparency and accountability. Additionally, the market is witnessing increased collaboration between testing laboratories, meat processors, and regulatory agencies to develop harmonized standards and protocols. These highlights reflect a dynamic and responsive market focused on innovation, safety, and quality assurance.

Drivers, Opportunities & Restraints

The meat testing market is propelled by several drivers, including stringent government regulations aimed at ensuring food safety, rising consumer awareness about foodborne illnesses, and increasing incidences of meat adulteration and contamination. The globalization of meat trade necessitates compliance with diverse international standards, further driving demand for testing services. Opportunities abound in the development of novel testing technologies that offer higher sensitivity, specificity, and speed, as well as expansion into emerging markets where meat consumption and safety regulations are growing. The rise of plant-based and cultured meat alternatives also presents new testing requirements and opportunities for market players. However, the market faces restraints such as high costs associated with advanced testing equipment and reagents, lack of standardized protocols across regions, and shortage of skilled professionals in some geographies. Additionally, the complexity of meat matrices can pose challenges for accurate testing. Balancing these drivers, opportunities, and restraints is crucial for stakeholders to navigate the market effectively.

Concentration Insights

The meat testing market exhibits a concentrated landscape with a mix of large multinational corporations, specialized testing laboratories, and regional players. Leading companies such as SGS SA, Eurofins Scientific, Intertek Group plc, Bureau Veritas SA, and ALS Limited dominate the market, offering a comprehensive suite of testing services across multiple geographies. These players leverage their extensive network of accredited laboratories, advanced technological capabilities, and strong reputations to secure contracts with major meat processors, retailers, and government agencies. The market concentration is also influenced by mergers and acquisitions, as companies seek to expand their service portfolios and geographic reach. Regional players often focus on niche segments or local regulatory requirements, providing tailored solutions. The competitive intensity is high, with companies competing on factors such as accuracy, turnaround time, cost, and customer service. This concentration dynamics ensure that the market remains innovation-driven and responsive to evolving industry needs.

Type Insights

Meat testing can be categorized into various types based on the parameters analyzed, each addressing specific safety and quality concerns. Microbiological testing is crucial for detecting pathogens like Salmonella, Listeria, E. coli, and Campylobacter, which are common causes of foodborne illnesses. Chemical testing includes residue analysis for antibiotics, hormones, pesticides, and heavy metals, ensuring compliance with maximum residue limits set by regulatory bodies. Physical testing assesses attributes such as texture, tenderness, and water content, which impact product quality and consumer satisfaction. Authenticity testing, including species identification and adulteration detection, has gained prominence due to increasing incidents of mislabeling and fraud. Nutritional labeling testing verifies the accuracy of claims regarding fat, protein, and other nutrient content. Each testing type employs specific methodologies and technologies, ranging traditional culturing techniques to advanced molecular and spectroscopic methods, catering to the diverse needs of the meat industry.

Application Insights

Meat testing applications span across the entire value chain, from raw material inspection to finished product analysis. In slaughterhouses and processing plants, testing is applied to incoming raw meat to screen for contaminants and ensure suitability for further processing. During processing, environmental monitoring and product testing help in controlling microbial hazards and maintaining hygiene standards. For packaged and ready-to-eat meat products, testing verifies shelf life, nutritional content, and label claims before they reach consumers. Retail and food service sectors rely on testing to ensure the safety and quality of meat products they sell, thereby protecting their brand reputation and complying with legal requirements. Export-oriented meat producers undergo rigorous testing to meet the import regulations of destination countries. Additionally, testing is used in research and development for new product formulation and quality improvement. These applications highlight the critical role of meat testing in ensuring safety, quality, and compliance at every stage.

Regional Insights

The meat testing market demonstrates distinct regional variations influenced by dietary habits, regulatory frameworks, and economic development. North America and Europe are mature markets characterized by stringent food safety regulations, high consumer awareness, and advanced testing infrastructure. These regions have well-established standards from bodies like the FDA USDA in the U.S. and EFSA in Europe, driving consistent demand for testing services. The Asia Pacific region is experiencing rapid growth due to increasing meat consumption, rising disposable incomes, and improving regulatory systems in countries like China, India, and Japan. Latin America, with its strong meat export industry particularly in Brazil and Argentina, emphasizes testing to comply with international standards. The Middle East and Africa present emerging opportunities, driven by urbanization, import dependency, and growing focus on food safety. Each region requires tailored approaches to address local contaminants, regulatory requirements, and market dynamics, making regional insights crucial for market participants.

Company Insights

Prominent companies in the meat testing market include SGS SA, Eurofins Scientific, Intertek Group plc, Bureau Veritas SA, and ALS Limited, among others. SGS SA offers a wide range of food testing services through its global network of laboratories, leveraging expertise in microbiology, chemistry, and authenticity testing. Eurofins Scientific is known for its extensive testing capabilities and innovative solutions, often acquiring specialized labs to enhance its service offerings. Intertek Group plc provides quality assurance and safety testing services, focusing on helping clients navigate complex regulatory landscapes. Bureau Veritas SA emphasizes certification, inspection, and testing services, with a strong presence in the food sector. ALS Limited offers analytical testing services, including specialized meat testing for contaminants and composition. These companies invest heavily in research and development to introduce faster, more accurate testing methods and expand their geographical footprint through strategic partnerships and acquisitions, reinforcing their market positions.

Recent Developments

Recent developments in the meat testing market reflect ongoing innovation and strategic movements aimed at enhancing capabilities and market reach. Companies are increasingly adopting next-generation sequencing (NGS) and biosensor technologies for more comprehensive and rapid pathogen detection. There is a growing trend towards the development of portable and on-site testing devices that allow for real-time monitoring at processing facilities, reducing reliance on central laboratories. Strategic acquisitions have been prominent, with major players acquiring smaller specialized firms to broaden their analytical portfolios and enter new geographic markets. Collaborations between testing companies and food manufacturers are on the rise to co-develop customized testing solutions for specific product lines. Additionally, advancements in data analytics and artificial intelligence are being integrated into testing platforms to improve result interpretation and trend analysis. These developments indicate a market that is rapidly evolving to meet the increasing demands for speed, accuracy, and convenience in meat testing.

Report Segmentation

The meat testing market report is typically segmented to provide detailed insights into various aspects of the industry. Segmentation by type includes microbiological testing, chemical testing, physical testing, and authenticity testing, each covering specific parameters and methodologies. Application segmentation covers slaughterhouses processing plants, retail, food service, and research institutions, highlighting the different stages and sectors where testing is applied. Geographical segmentation breaks down the market into regions such as North America, Europe, Asia Pacific, Latin America, and Middle East Africa, analyzing regional trends, regulatory environments, and growth opportunities. Further segmentation may focus on technology, distinguishing between traditional methods and rapid advanced technologies like PCR, immunoassay, and chromatography. This structured approach allows stakeholders to understand market dynamics, identify growth segments, and make informed decisions based on comprehensive and categorized data.

FAQs

What is meat testing? Meat testing involves a series of analytical procedures performed to ensure the safety, quality, and authenticity of meat products by detecting contaminants, verifying composition, and assessing adherence to regulatory standards.

Why is meat testing important? Meat testing is crucial for preventing foodborne illnesses, ensuring compliance with food safety regulations, detecting adulteration, maintaining consumer trust, and facilitating international trade in meat products.

What are the common contaminants tested in meat? Common contaminants include pathogenic microorganisms like Salmonella and E. coli, residues of veterinary drugs and pesticides, heavy metals, and allergens, as well as physical hazards and adulterants.

How is meat authenticity testing conducted? Meat authenticity testing is conducted using techniques such as DNA-based methods like PCR to identify species, detect adulteration, and verify labeling claims, ensuring product integrity.

What technologies are used in meat testing? Technologies include traditional culturing for microbiology, chromatography and spectrometry for chemical analysis, PCR and immunoassays for molecular detection, and emerging tools like biosensors and NGS for advanced analysis.

Citius Research has developed a research report titled “Meat Testing Market Report - Global Industry Analysis, Size, Share, Growth Trends, Regional Outlook, Competitive Strategies and Segment Forecasts 2024 - 2030” delivering key insights regarding business intelligence and providing concrete business strategies to clients in the form of a detailed syndicated report. The report details out the factors such as business environment, industry trend, growth opportunities, competition, pricing, global and regional market analysis, and other market related factors.

Details included in the report for the years 2024 through 2030

• Meat Testing Market Potential
• Segment-wise breakup
• Compounded annual growth rate (CAGR) for the next 6 years
• Key customers and their preferences
• Market share of major players and their competitive strength
• Existing competition in the market
• Price trend analysis
• Key trend analysis
• Market entry strategies
• Market opportunity insights

The report focuses on the drivers, restraints, opportunities, and challenges in the market based on various factors geographically. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report. The Meat Testing Market report is segmented on the basis of various market segments and their analysis, both in terms of value and volume, for each region for the period under consideration.

Meat Testing Market Segmentation

Market Segmentation

Regions Covered

• North America
• Latin America
• Europe
• MENA
• Asia Pacific
• Sub-Saharan Africa and
• Australasia

Meat Testing Market Analysis

The report covers below mentioned analysis, but is not limited to:

• Overview of Meat Testing Market
• Research Methodology
• Executive Summary
• Market Dynamics of Meat Testing Market
  • Driving Factors
  • Restraints
  • Opportunities
• Global Market Status and Forecast by Segment A
• Global Market Status and Forecast by Segment B
• Global Market Status and Forecast by Segment C
• Global Market Status and Forecast by Regions
• Upstream and Downstream Market Analysis of Meat Testing Market
• Cost and Gross Margin Analysis of Meat Testing Market
• Meat Testing Market Report - Global Industry Analysis, Size, Share, Growth Trends, Regional Outlook, Competitive Strategies and Segment Forecasts 2024 - 2030
  • Competition Landscape
  • Market Share of Major Players
• Key Recommendations

The “Meat Testing Market Report - Global Industry Analysis, Size, Share, Growth Trends, Regional Outlook, Competitive Strategies and Segment Forecasts 2024 - 2030” report helps the clients to take business decisions and to understand strategies of major players in the industry. The report delivers the market driven results supported by a mix of primary and secondary research. The report provides the results triangulated through authentic sources and upon conducting thorough primary interviews with the industry experts. The report includes the results on the areas where the client can focus and create point of parity and develop a competitive edge, based on real-time data results.

Meat Testing Market Key Stakeholders

Below are the key stakeholders for the Meat Testing Market:

• Manufacturers
• Distributors/Traders/Wholesalers
• Material/Component Manufacturers
• Industry Associations
• Downstream vendors

Meat Testing Market Report Scope

Report AttributeDetails
Base year2023
Historical data2018 – 2023
Forecast2024 - 2030
CAGR2024 - 2030
Quantitative UnitsValue (USD Million)
Report coverageRevenue Forecast, Competitive Landscape, Growth Factors, Trends and Strategies. Customized report options available on request
Segments coveredProduct type, technology, application, geography
Regions coveredNorth America, Latin America, Europe, MENA, Asia Pacific, Sub-Saharan Africa and Australasia
Countries coveredUS, UK, China, Japan, Germany, India, France, Brazil, Italy, Canada, Russia, South Korea, Australia, Spain, Mexico and others
Customization scopeAvailable on request
PricingVarious purchase options available as per your research needs. Discounts available on request

COVID-19 Impact Analysis

Like most other markets, the outbreak of COVID-19 had an unfavorable impact on the Meat Testing Market worldwide. This report discusses in detail the disruptions experienced by the market, the impact on flow of raw materials, manufacturing operations, production trends, consumer demand and the projected future of this market post pandemic.

The report has helped our clients:

• To describe and forecast the Meat Testing Market size, on the basis of various segmentations and geography, in terms of value and volume
• To measure the changing needs of customers/industries
• To provide detailed information regarding the drivers, restraints, opportunities, and challenges influencing the growth of the market
• To gain competitive intelligence and uncover new opportunities
• To analyse opportunities in the market for stakeholders by identifying high-growth segments in Meat Testing Market
• To strategically profile key players and provide details of the current competitive landscape
• To analyse strategic approaches adopted by players in the market, such as product launches and developments, acquisitions, collaborations, contracts, expansions, and partnerships

Report Customization

Citius Research provides free customization of reports as per your need. This report can be personalized to meet your requirements. Get in touch with our sales team, who will guarantee you to get a report that suits your necessities.

Customize This Report

Frequently Asked Questions

The Global Meat Testing Market size was valued at $XX billion in 2023 and is anticipated to reach $XX billion by 2030 growing at a CAGR of XX%
The global Meat Testing Market is expected to grow at a CAGR of XX% from 2023 to 2030.
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Table of Contents

Chapter 1. Introduction
  1.1. Market Scope
  1.2. Key Segmentations
  1.3. Research Objective
Chapter 2. Research Methodology & Assumptions
Chapter 3. Executive Summary
Chapter 4. Market Background
  4.1. Dynamics
    4.1.1. Drivers
    4.1.2. Restraints
    4.1.3. Opportunity
    4.1.4. Challenges
  4.2. Key Trends in the Impacting the Market
    4.2.1. Demand & Supply
  4.3. Industry SWOT Analysis
  4.4. Porter’s Five Forces Analysis
  4.5. Value and Supply Chain Analysis
  4.6. Macro-Economic Factors
  4.7. COVID-19 Impact Analysis
    4.7.1. Global and Regional Assessment
  4.8. Profit Margin Analysis
  4.9. Trade Analysis
    4.9.1. Importing Countries
    4.9.2. Exporting Countries
  4.10. Market Entry Strategies
  4.11. Market Assessment (US$ Mn and Units)
Chapter 5. Global Meat Testing Market Size (US$ Mn and Units), Forecast and Trend Analysis, By Segment A
  5.1. By Segment A, 2024 - 2030
    5.1.1. Sub-Segment A
    5.1.2. Sub-Segment B
  5.2. Opportunity Analysis
Chapter 6. Global Meat Testing Market Size (US$ Mn and Units), Forecast and Trend Analysis, By Segment B
  6.1. By Segment B, 2024 - 2030
    6.1.1. Sub-Segment A
    6.1.2. Sub-Segment B
  6.2. Opportunity Analysis
Chapter 7. Global Meat Testing Market Size (US$ Mn and Units), Forecast and Trend Analysis, By Segment C
  7.1. By Segment C, 2024 - 2030
    7.1.1. Sub-Segment A
    7.1.2. Sub-Segment B
  7.2. Opportunity Analysis
Chapter 8. Global Meat Testing Market Size (US$ Mn and Units), Forecast and Trend Analysis, By Region
  8.1. By Region, 2024 - 2030
    8.1.1. North America
    8.1.2. Latin America
    8.1.3. Europe
    8.1.4. MENA
    8.1.5. Asia Pacific
    8.1.6. Sub-Saharan Africa
    8.1.7. Australasia
  8.2. Opportunity Analysis
Chapter 9. North America Meat Testing Market Forecast and Trend Analysis
  9.1. Regional Overview
  9.2. Pricing Analysis
  9.3. Key Trends in the Region
    9.3.1. Supply and Demand
  9.4. Demographic Structure
  9.5. By Segment A , 2024 - 2030, (US$ Mn and Units)
    9.5.1. Sub-Segment A
    9.5.2. Sub-Segment B
  9.6. By Segment B, 2024 - 2030, (US$ Mn and Units)
    9.6.1. Sub-Segment A
    9.6.2. Sub-Segment B
  9.7. By Segment C, 2024 - 2030, (US$ Mn and Units)
    9.7.1. Sub-Segment A
    9.7.2. Sub-Segment B
  9.8. By Country, 2024 - 2030, (US$ Mn and Units)
    9.8.1. U.S.
    9.8.2. Canada
    9.8.3. Rest of North America
  9.9. Opportunity Analysis
Chapter 10. Latin America Meat Testing Market Forecast and Trend Analysis
  10.1. Regional Overview
  10.2. Pricing Analysis
  10.3. Key Trends in the Region
    10.3.1. Supply and Demand
  10.4. Demographic Structure
  10.5. By Segment A , 2024 - 2030, (US$ Mn and Units)
    10.5.1. Sub-Segment A
    10.5.2. Sub-Segment B
  10.6. By Segment B, 2024 - 2030, (US$ Mn and Units)
    10.6.1. Sub-Segment A
    10.6.2. Sub-Segment B
  10.7. By Segment C, 2024 - 2030, (US$ Mn and Units)
    10.7.1. Sub-Segment A
    10.7.2. Sub-Segment B
  10.8. By Country, 2024 - 2030, (US$ Mn and Units)
    10.8.1. Brazil
    10.8.2. Argentina
    10.8.3. Rest of Latin America
  10.9. Opportunity Analysis
Chapter 11. Europe Meat Testing Market Forecast and Trend Analysis
  11.1. Regional Overview
  11.2. Pricing Analysis
  11.3. Key Trends in the Region
    11.3.1. Supply and Demand
  11.4. Demographic Structure
  11.5. By Segment A , 2024 - 2030, (US$ Mn and Units)
    11.5.1. Sub-Segment A
    11.5.2. Sub-Segment B
  11.6. By Segment B, 2024 - 2030, (US$ Mn and Units)
    11.6.1. Sub-Segment A
    11.6.2. Sub-Segment B
  11.7. By Segment C, 2024 - 2030, (US$ Mn and Units)
    11.7.1. Sub-Segment A
    11.7.2. Sub-Segment B
  11.8. By Country, 2024 - 2030, (US$ Mn and Units)
    11.8.1. UK
    11.8.2. Germany
    11.8.3. France
    11.8.4. Spain
    11.8.5. Rest of Europe
  11.9. Opportunity Analysis
Chapter 12. MENA Meat Testing Market Forecast and Trend Analysis
  12.1. Regional Overview
  12.2. Pricing Analysis
  12.3. Key Trends in the Region
    12.3.1. Supply and Demand
  12.4. Demographic Structure
  12.5. By Segment A , 2024 - 2030, (US$ Mn and Units)
    12.5.1. Sub-Segment A
    12.5.2. Sub-Segment B
  12.6. By Segment B, 2024 - 2030, (US$ Mn and Units)
    12.6.1. Sub-Segment A
    12.6.2. Sub-Segment B
  12.7. By Segment C, 2024 - 2030, (US$ Mn and Units)
    12.7.1. Sub-Segment A
    12.7.2. Sub-Segment B
  12.8. By Country, 2024 - 2030, (US$ Mn and Units)
    12.8.1. Egypt
    12.8.2. Algeria
    12.8.3. GCC
    12.8.4. Rest of MENA
  12.9. Opportunity Analysis
Chapter 13. Asia Pacific Meat Testing Market Forecast and Trend Analysis
  13.1. Regional Overview
  13.2. Pricing Analysis
  13.3. Key Trends in the Region
    13.3.1. Supply and Demand
  13.4. Demographic Structure
  13.5. By Segment A , 2024 - 2030, (US$ Mn and Units)
    13.5.1. Sub-Segment A
    13.5.2. Sub-Segment B
  13.6. By Segment B, 2024 - 2030, (US$ Mn and Units)
    13.6.1. Sub-Segment A
    13.6.2. Sub-Segment B
  13.7. By Segment C, 2024 - 2030, (US$ Mn and Units)
    13.7.1. Sub-Segment A
    13.7.2. Sub-Segment B
  13.8. By Country, 2024 - 2030, (US$ Mn and Units)
    13.8.1. India
    13.8.2. China
    13.8.3. Japan
    13.8.4. ASEAN
    13.8.5. Rest of Asia Pacific
  13.9. Opportunity Analysis
Chapter 14. Sub-Saharan Africa Meat Testing Market Forecast and Trend Analysis
  14.1. Regional Overview
  14.2. Pricing Analysis
  14.3. Key Trends in the Region
    14.3.1. Supply and Demand
  14.4. Demographic Structure
  14.5. By Segment A , 2024 - 2030, (US$ Mn and Units)
    14.5.1. Sub-Segment A
    14.5.2. Sub-Segment B
  14.6. By Segment B, 2024 - 2030, (US$ Mn and Units)
    14.6.1. Sub-Segment A
    14.6.2. Sub-Segment B
  14.7. By Segment C, 2024 - 2030, (US$ Mn and Units)
    14.7.1. Sub-Segment A
    14.7.2. Sub-Segment B
  14.8. By Country, 2024 - 2030, (US$ Mn and Units)
    14.8.1. Ethiopia
    14.8.2. Nigeria
    14.8.3. Rest of Sub-Saharan Africa
  14.9. Opportunity Analysis
Chapter 15. Australasia Meat Testing Market Forecast and Trend Analysis
  15.1. Regional Overview
  15.2. Pricing Analysis
  15.3. Key Trends in the Region
    15.3.1. Supply and Demand
  15.4. Demographic Structure
  15.5. By Segment A , 2024 - 2030, (US$ Mn and Units)
    15.5.1. Sub-Segment A
    15.5.2. Sub-Segment B
  15.6. By Segment B, 2024 - 2030, (US$ Mn and Units)
    15.6.1. Sub-Segment A
    15.6.2. Sub-Segment B
  15.7. By Segment C, 2024 - 2030, (US$ Mn and Units)
    15.7.1. Sub-Segment A
    15.7.2. Sub-Segment B
  15.8. By Country, 2024 - 2030, (US$ Mn and Units)
    15.8.1. Australia
    15.8.2. New Zealand
    15.8.3. Rest of Australasia
  15.9. Opportunity Analysis
Chapter 16. Competition Analysis
  16.1. Competitive Benchmarking
    16.1.1. Top Player’s Market Share
    16.1.2. Price and Product Comparison
  16.2. Company Profiles
    16.2.1. Company A
      16.2.1.1. Company Overview
      16.2.1.2. Segmental Revenue
      16.2.1.3. Product Portfolio
      16.2.1.4. Key Developments
      16.2.1.5. Strategic Outlook
    16.2.2. Company B
      16.2.2.1. Company Overview
      16.2.2.2. Segmental Revenue
      16.2.2.3. Product Portfolio
      16.2.2.4. Key Developments
      16.2.2.5. Strategic Outlook
    16.2.3. Company C
      16.2.3.1. Company Overview
      16.2.3.2. Segmental Revenue
      16.2.3.3. Product Portfolio
      16.2.3.4. Key Developments
      16.2.3.5. Strategic Outlook
    16.2.4. Company D
      16.2.4.1. Company Overview
      16.2.4.2. Segmental Revenue
      16.2.4.3. Product Portfolio
      16.2.4.4. Key Developments
      16.2.4.5. Strategic Outlook
    16.2.5. Company E
      16.2.5.1. Company Overview
      16.2.5.2. Segmental Revenue
      16.2.5.3. Product Portfolio
      16.2.5.4. Key Developments
      16.2.5.5. Strategic Outlook
    16.2.6. Company F
      16.2.6.1. Company Overview
      16.2.6.2. Segmental Revenue
      16.2.6.3. Product Portfolio
      16.2.6.4. Key Developments
      16.2.6.5. Strategic Outlook
    16.2.7. Company G
      16.2.7.1. Company Overview
      16.2.7.2. Segmental Revenue
      16.2.7.3. Product Portfolio
      16.2.7.4. Key Developments
      16.2.7.5. Strategic Outlook
    16.2.8. Company H
      16.2.8.1. Company Overview
      16.2.8.2. Segmental Revenue
      16.2.8.3. Product Portfolio
      16.2.8.4. Key Developments
      16.2.8.5. Strategic Outlook
    16.2.9. Company I
      16.2.9.1. Company Overview
      16.2.9.2. Segmental Revenue
      16.2.9.3. Product Portfolio
      16.2.9.4. Key Developments
      16.2.9.5. Strategic Outlook
    16.2.10. Company J
      16.2.10.1. Company Overview
      16.2.10.2. Segmental Revenue
      16.2.10.3. Product Portfolio
      16.2.10.4. Key Developments
      16.2.10.5. Strategic Outlook
Chapter 17. Go-To-Market Strategy

Research Methodology

We follow a robust research methodology to analyze the market in order to provide our clients with qualitative and quantitative analysis which has a very low or negligible deviance. Extensive secondary research supported by primary data collection methods help us to thoroughly understand and gauge the market. We incorporate both top-down and bottom-up approach for estimating the market. The below mentioned methods are then adopted to triangulate and validate the market.

Secondary data collection and interpretation

Secondary research includes sources such as published books, articles in journals, news media and published businesses, government and international body publications, and associations. Sources also include paid databases such as Hoovers, Thomson Reuters, Passport and others. Data derived through secondary sources is further validated through primary sources. The secondary sources also include major manufacturers mapped on the basis of revenues, product portfolios, and sales channels.

Primary data collection

Primary data collection methods include conducting interviews with industry experts and various stakeholders across the supply chain, such as raw material suppliers, manufacturers, product distributors and customers. The interviews are either telephonic or face-to-face, or even a combination of both. Prevailing trends in the industry are gathered by conducting surveys. Primary interviews also help us to understand the market drivers, restraints and opportunities, along with the challenges in the market. This method helps us in validating the data gathered through secondary sources, further triangulating the data and developing it through our statistical tools. We generally conduct interviews with -

  • CEOs, Directors, and VPs
  • Sales and Marketing Managers
  • Plant Heads and Manufacturing Department Heads
  • Product Specialists

Supply Side and Demand Side Data Collection

Supply side analysis is based on the data collected from the manufacturers and the product providers in terms of their segmental revenues. Secondary sources for this type of analysis include company annual reports and publications, associations and organisations, government publications and others.

Demand side analysis is based upon the consumer insights who are the end users of the particular product in question. They could be an individual user or an organisation. Such data is gathered through consumer surveys and focused group interviews.

Market Engineering

As a primary step, in order to develop the market numbers we follow a vigorous methodology that includes studying the parent market of the niche product and understanding the industry trends, acceptance among customers of the product, challenges, future growth, and others, followed by further breaking down the market under consideration into various segments and sub-markets. Additionally, in order to cross-validate the market, we also determine the top players in the market, along with their segmental revenues for the said market. Our secondary sources help us to validate the market share of the top players. Using both the qualitative and quantitative analysis of all the possible factors helps us determine the market numbers which are inclined towards accuracy.

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