Natural Solubilizers 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: CR0195686
  • Format: Electronic (PDF)
  • Number of Pages: 215
  • Author(s): Joshi, Madhavi

Report Overview

The Natural Solubilizers Market size was estimated at USD 650 million in 2023 and is projected to reach USD 1.15 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 8.70% during the forecast period (2024-2030).

Natural Solubilizers Market

(Market Size)
$650 million
$1.15 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 650 million
2030 Market Size USD 1.15 billion
Key Players BASF, Croda, Lubrizol, Evonik, Gattefossé

Market Summary

The natural solubilizers market within the food and beverages industry is experiencing notable growth driven by increasing consumer demand for clean label and natural ingredients. Solubilizers play a critical role in enhancing the solubility, stability, and bioavailability of various compounds in food and beverage formulations, ensuring product consistency and efficacy. Key factors propelling this market include the shift towards organic and natural products, advancements in extraction technologies, and the rising application of solubilizers in functional foods and nutraceuticals. Companies are focusing on developing plant-based and sustainable solubilizers to meet regulatory standards and consumer preferences. The market is characterized by innovation in product development and strategic collaborations among industry players to expand their product portfolios and geographic presence.

Key Highlights

The natural solubilizers market is distinguished by several key highlights that underscore its dynamic nature. There is a growing emphasis on bio-based solubilizers derived from sources such as saponins, lecithin, and cyclodextrins, which are gaining traction due to their efficacy and environmental benefits. The integration of solubilizers in beverage applications, particularly in enhancing the solubility of vitamins, minerals, and phytochemicals, is a significant trend. Additionally, the market is witnessing increased investment in research and development to discover novel solubilizers with improved functionality and compatibility. The expansion of the functional food and dietary supplements sector further amplifies the demand for natural solubilizers, positioning this market as a crucial component of the broader food ingredients industry.

Drivers, Opportunities & Restraints

Several drivers are fueling the growth of the natural solubilizers market, including the rising consumer awareness regarding health and wellness, which is prompting a shift towards natural and clean label products. The increasing prevalence of chronic diseases is also driving the demand for fortified foods and beverages, where solubilizers play a vital role. Opportunities abound in the development of innovative solubilizers for emerging applications such as plant-based meats and dairy alternatives, as well as in expanding into untapped regional markets. However, the market faces restraints such as high production costs associated with natural solubilizers and stringent regulatory requirements that can impede rapid commercialization. Additionally, technical challenges related to stability and efficiency in various formulations pose hurdles for widespread adoption.

Concentration Insights

The natural solubilizers market exhibits a moderate level of concentration with the presence of both global players and specialized regional companies. Leading firms such as BASF SE, Archer Daniels Midland Company, and Cargill Incorporated dominate the market through extensive product portfolios and strong distribution networks. These companies focus on strategic acquisitions and partnerships to enhance their market position and leverage advanced technologies for product development. Regional players often cater to specific local demands and preferences, contributing to market diversity. The competitive landscape is characterized by continuous innovation and a focus on sustainability, with companies investing in green chemistry and sustainable sourcing to gain a competitive edge.

Type Insights

Natural solubilizers are categorized into various types based on their source and composition, including saponins, lecithin, cyclodextrins, and polysorbates. Saponins, derived from plants like quinoa and yucca, are widely used for their emulsifying and foaming properties. Lecithin, sourced from soybeans and sunflowers, is prevalent in applications requiring stability and texture enhancement. Cyclodextrins, known for their ability to form inclusion complexes, are employed to improve the solubility of hydrophobic compounds. Each type offers distinct advantages and is selected based on specific application requirements, with ongoing research aimed at optimizing their performance and expanding their use in diverse food and beverage formulations.

Application Insights

In the food and beverages industry, natural solubilizers find applications across a spectrum of products including functional beverages, dairy alternatives, baked goods, and dietary supplements. They are crucial for enhancing the dispersion and bioavailability of active ingredients such as vitamins, omega-3 fatty acids, and antioxidants. In beverages, solubilizers ensure homogeneity and prevent sedimentation, thereby improving consumer acceptance. The growing trend towards fortified and health-oriented products is driving their adoption in various segments, with manufacturers increasingly incorporating natural solubilizers to meet clean label demands and regulatory standards while maintaining product quality and efficacy.

Regional Insights

The natural solubilizers market demonstrates varying dynamics across different regions. North America and Europe are prominent markets due to high consumer awareness, stringent regulations promoting natural ingredients, and advanced food processing technologies. The Asia-Pacific region is emerging as a significant growth area, driven by increasing disposable incomes, urbanization, and a growing focus on health and wellness. Latin America and the Middle East & Africa are also witnessing gradual adoption, supported by expanding food and beverage industries and rising investments in product innovation. Regional preferences and regulatory frameworks influence market strategies, with companies tailoring their offerings to meet local demands and compliance requirements.

Company Insights

Key players in the natural solubilizers market include BASF SE, Archer Daniels Midland Company, Cargill Incorporated, DowDuPont, and Kerry Group. These companies are at the forefront of innovation, developing advanced solubilizers that cater to the evolving needs of the food and beverages industry. BASF SE focuses on sustainable and bio-based solutions, while Archer Daniels Midland Company leverages its extensive agricultural resources to produce high-quality lecithin-based solubilizers. Cargill Incorporated emphasizes clean label and non-GMO products, aligning with consumer preferences. Kerry Group specializes in integrated taste and nutrition solutions, incorporating solubilizers to enhance product performance. These companies employ strategies such as mergers, acquisitions, and R&D investments to strengthen their market presence.

Recent Developments

Recent developments in the natural solubilizers market highlight a trend towards innovation and sustainability. Companies are launching new products with improved functionality, such as solubilizers derived from novel plant sources that offer enhanced stability and compatibility. There is also a focus on expanding production capacities and forming strategic alliances to capture larger market shares. For instance, collaborations between ingredient suppliers and food manufacturers are becoming common to co-develop customized solubilizer solutions. Additionally, advancements in extraction and purification technologies are enabling the production of high-purity natural solubilizers, meeting the stringent quality standards required by the food and beverages industry.

Report Segmentation

This report on the natural solubilizers market is segmented based on type, application, and region. By type, the market is divided into saponins, lecithin, cyclodextrins, polysorbates, and others. Application segments include functional beverages, dairy products, bakery and confectionery, dietary supplements, and others. Geographically, the market is analyzed across North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. Each segment is thoroughly evaluated to provide insights into market trends, growth prospects, and competitive dynamics, offering a comprehensive understanding of the factors influencing the natural solubilizers market in the food and beverages industry.

FAQs

What are natural solubilizers? Natural solubilizers are substances derived from natural sources that enhance the solubility and stability of insoluble compounds in food and beverage products, ensuring uniform distribution and improved bioavailability.

Why are natural solubilizers important in the food industry? They are crucial for formulating clean label products, improving texture and consistency, and enhancing the efficacy of functional ingredients like vitamins and minerals, meeting consumer demand for natural and health-oriented foods.

What are the common sources of natural solubilizers? Common sources include plants such as soybeans for lecithin, quinoa for saponins, and corn for cyclodextrins, all chosen for their natural origin and functional properties.

How do natural solubilizers differ from synthetic ones? Natural solubilizers are derived from renewable resources and are perceived as safer and more environmentally friendly, whereas synthetic solubilizers are chemically produced and may raise health and regulatory concerns.

What trends are influencing the natural solubilizers market? Key trends include the rise of clean label products, increased use in plant-based and functional foods, and advancements in extraction technologies that improve efficiency and sustainability.

Citius Research has developed a research report titled “Natural Solubilizers 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

• Natural Solubilizers 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 Natural Solubilizers 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.

Natural Solubilizers Market Segmentation

Market Segmentation

Regions Covered

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

Natural Solubilizers Market Analysis

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

• Overview of Natural Solubilizers Market
• Research Methodology
• Executive Summary
• Market Dynamics of Natural Solubilizers 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 Natural Solubilizers Market
• Cost and Gross Margin Analysis of Natural Solubilizers Market
• Natural Solubilizers 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 “Natural Solubilizers 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.

Natural Solubilizers Market Key Stakeholders

Below are the key stakeholders for the Natural Solubilizers Market:

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

Natural Solubilizers 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 Natural Solubilizers 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 Natural Solubilizers 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 Natural Solubilizers 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 Natural Solubilizers 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 Natural Solubilizers 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 Natural Solubilizers 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 Natural Solubilizers 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 Natural Solubilizers 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 Natural Solubilizers 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 Natural Solubilizers 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 Natural Solubilizers 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 Natural Solubilizers 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 Natural Solubilizers 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 Natural Solubilizers 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 Natural Solubilizers 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 Natural Solubilizers 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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