North American Food Safety 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: CR0196191
  • Format: Electronic (PDF)
  • Number of Pages: 215
  • Author(s): Joshi, Madhavi

Report Overview

The North American Food Safety Market size was estimated at USD 3.8 billion in 2023 and is projected to reach USD 8.5 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 12.00% during the forecast period (2024-2030).

North American Food Safety Market

(Market Size)
$3.8 billion
$8.5 billion
2023
2030
Source: Citius Research
Study Period 2018 - 2030
Base Year For Estimation 2023
Forecast Data Period 2024 - 2030
CAGR (2024-2030) 12.00%
2023 Market Size USD 3.8 billion
2030 Market Size USD 8.5 billion
Key Players SGS, Eurofins, Intertek, Bureau Veritas, ALS Limited

Market Summary

The North American food safety market is a critical and dynamic segment within the broader food and beverages industry, primarily driven by stringent regulatory frameworks and an ever-increasing consumer demand for safe, high-quality food products. This market encompasses a wide array of technologies, testing methods, and services designed to prevent foodborne illnesses and ensure compliance with health standards. The United States, with agencies like the FDA and USDA setting rigorous guidelines, represents the largest share, while Canada and Mexico also demonstrate significant activity aligned with their own national standards and international trade requirements. The market's evolution is heavily influenced by technological advancements, including rapid pathogen detection systems and blockchain for supply chain transparency. Companies operating in this space are continuously innovating to address complex challenges such as globalized supply chains and emerging contaminants. The emphasis is on proactive prevention rather than reactive measures, making this a high-growth area for investment and development. The integration of IoT and data analytics is further revolutionizing how food safety is monitored and managed from farm to fork.

Key Highlights

The North American food safety market is characterized by its robust regulatory environment, which acts as a primary catalyst for industry standards and adoption of advanced solutions. A key highlight is the significant role of technology integration, where automation, artificial intelligence, and molecular diagnostics are becoming mainstream for pathogen testing and contamination prevention. The market sees substantial investment in rapid testing kits and systems that deliver results in hours instead of days, greatly enhancing operational efficiency for food producers and processors. Another prominent feature is the increasing consumer awareness and demand for transparency, pushing brands to adopt traceability solutions that provide end-to-end visibility into the food supply chain. Major industry players are actively engaging in strategic collaborations and mergers to expand their technological portfolios and geographic reach. The focus on preventive controls, as mandated by regulations like the Food Safety Modernization Act (FSMA) in the U.S., underscores a shift towards risk-based approaches, making food safety management systems more sophisticated and integral to business operations.

Drivers, Opportunities & Restraints

The growth of the North American food safety market is propelled by several powerful drivers, chief among them being the stringent and evolving regulatory landscape. Governments across the region are implementing stricter food safety laws, compelling companies to invest in compliance and advanced testing technologies. Increasing incidences of foodborne illnesses and subsequent recalls have heightened public and regulatory scrutiny, making food safety a top priority for all stakeholders. The rise in consumer awareness regarding food quality and safety, fueled by access to information and health consciousness, further drives market demand. Significant opportunities lie in technological innovation, particularly in the development of rapid, accurate, and cost-effective testing solutions. The expansion of the food retail and processing sectors, along with the growth of international food trade, presents ample opportunities for market players. However, the market faces restraints such as the high cost of advanced food safety systems and technologies, which can be a barrier for small and medium-sized enterprises. Additionally, the lack of harmonization in food safety regulations across different states and countries within North America can create complexities for multinational companies.

Concentration Insights

The competitive landscape of the North American food safety market is relatively concentrated, with a mix of large multinational corporations and specialized niche players dominating various segments. Key companies such as SGS SA, Eurofins Scientific, Intertek Group plc, and Bureau Veritas hold significant market shares, offering a comprehensive suite of testing, inspection, and certification services. These established players benefit from extensive global networks, accredited laboratories, and long-standing client relationships, giving them a competitive edge. The market also features several prominent technology providers like 3M Company and Neogen Corporation, which are leaders in developing rapid diagnostic and testing equipment. There is a noticeable trend of consolidation through mergers and acquisitions, as larger entities seek to enhance their service offerings and geographic presence. Despite the dominance of these major players, there is room for innovation-driven smaller companies and startups, particularly those focusing on novel technologies like blockchain for traceability or AI-powered monitoring systems, which are increasingly being adopted by the industry.

Type Insights

The North American food safety market can be segmented by type into various testing categories, each addressing specific contaminants and quality parameters. Pathogen testing represents a substantial segment due to the critical need to detect harmful microorganisms like Salmonella, Listeria, and E. coli, which are major causes of foodborne outbreaks. This is followed by testing for genetically modified organisms (GMOs), which is gaining prominence with increasing consumer demand for labeling and transparency. Chemical and toxin testing is another vital area, focusing on residues of pesticides, allergens, and mycotoxins to ensure food does not contain harmful substances. Additionally, shelf-life testing and spoilage detection are crucial for maintaining product quality and reducing food waste. The market is witnessing a shift from traditional culture-based methods towards rapid and automated testing technologies that offer higher throughput, accuracy, and faster results. Molecular diagnostics, immunoassays, and chromatography-based techniques are widely adopted across these testing types to meet regulatory compliance and brand protection needs.

Application Insights

In terms of application, the North American food safety market serves a diverse range of industries within the food and beverages sector. The meat, poultry, and seafood segment is a major application area due to the high risk of contamination and stringent regulatory oversight, driving demand for extensive testing and inspection services. The dairy industry similarly requires robust safety protocols for products like milk, cheese, and yogurt to prevent bacterial contamination and ensure quality. Processed foods represent another significant application, with testing focused on chemical additives, preservatives, and packaging integrity. The fruits and vegetables segment is increasingly important, with growing concern over pesticide residues and microbial contamination from farm to table. Furthermore, the beverages industry, including alcoholic and non-alcoholic drinks, employs food safety testing for contaminants and compliance with quality standards. Each application segment has unique requirements, leading to specialized testing solutions and protocols tailored to address specific risks associated with different food matrices and production processes.

Regional Insights

Geographically, the North American food safety market is dominated by the United States, which accounts for the largest market share due to its extensive food production and processing industry, coupled with some of the world's most rigorous food safety regulations enforced by the FDA and USDA. The country's focus on preventive controls, mandated by the FSMA, continues to drive investment in testing and monitoring solutions. Canada represents another significant market, with its own set of stringent regulations under the Canadian Food Inspection Agency (CFIA), promoting high standards for domestic and imported food products. Mexico, while a smaller market compared to its northern neighbors, is experiencing growth driven by increasing export requirements to the U.S. and Canada, as well as rising domestic consumer awareness. Trade agreements like the USMCA further influence regional dynamics by harmonizing some safety standards and facilitating cross-border food trade, which in turn boosts the demand for consistent and reliable food safety services across all three countries.

Company Insights

The North American food safety market features a competitive array of companies offering specialized services and technologies. Leading players include SGS SA, a global testing and inspection giant providing comprehensive food safety services including auditing, certification, and laboratory analysis. Eurofins Scientific is another major force, operating an extensive network of laboratories across the region and specializing in food testing, agroscience, and pharmaceutical products. Intertek Group plc offers quality assurance solutions including food safety testing and supply chain auditing. Bureau Veritas is prominent for its certification, inspection, and testing services tailored to the food industry. In the technology segment, 3M Company is renowned for its innovative rapid detection products like molecular detection systems and test kits. Neogen Corporation develops and markets diagnostic kits and equipment for foodborne pathogen and toxin detection. These companies compete on the basis of technological innovation, service accuracy, speed, geographic coverage, and accreditation, continually striving to meet the evolving demands of food manufacturers and regulators.

Recent Developments

The North American food safety market has witnessed several significant developments recently, reflecting its dynamic nature and response to emerging challenges. There has been a marked increase in the adoption of digital technologies, with companies integrating blockchain for enhanced traceability and transparency in supply chains, allowing for rapid response to contamination incidents. Major acquisitions have shaped the landscape, such as Eurofins strengthening its position through strategic purchases of smaller laboratories and service providers. Technological advancements are continuous, with leading firms launching next-generation rapid testing platforms that utilize artificial intelligence and machine learning for more accurate and predictive analytics. The regulatory environment remains a key influencer, with updates to food safety laws prompting companies to upgrade their compliance strategies and invest in new testing capabilities. Additionally, the COVID-19 pandemic accelerated the focus on surface testing and hygiene monitoring within food production facilities, leading to new service offerings and heightened protocols across the industry.

Report Segmentation

This market research report on the North American food safety market provides a detailed segmentation analysis to offer comprehensive insights into the industry structure. The report segments the market by type, categorizing it into various testing methodologies such as pathogen testing, GMO testing, chemical and toxin testing, and shelf-life testing. Each segment is analyzed in terms of market presence, growth trends, and technological adoption. By application, the market is divided into key industries including meat, poultry, and seafood; dairy products; processed foods; fruits and vegetables; and beverages. The report examines the specific demands and regulatory drivers unique to each application area. Geographically, the analysis covers the United States, Canada, and Mexico, highlighting regional regulations, market size, and growth opportunities. Furthermore, the report includes a competitive landscape section, profiling major companies and their strategies, along with an analysis of recent developments such as mergers, acquisitions, and product launches that are influencing market dynamics.

FAQs

What are the key drivers of the North American food safety market? The market is primarily driven by stringent government regulations, increasing consumer awareness about food quality, and the rising incidence of foodborne illnesses. Technological advancements in testing and monitoring solutions also significantly contribute to market growth.

Which companies are the leaders in the North American food safety market? Prominent companies leading this market include SGS SA, Eurofins Scientific, Intertek Group plc, Bureau Veritas, 3M Company, and Neogen Corporation. These firms offer a wide range of testing, inspection, and certification services.

What are the main types of food safety testing conducted in North America? The main types include pathogen testing, genetically modified organism (GMO) testing, chemical and toxin testing, and shelf-life testing. Pathogen testing is particularly crucial due to the high risk of foodborne outbreaks.

How is the food safety market segmented by application? The market is segmented by application into meat, poultry, and seafood; dairy products; processed foods; fruits and vegetables; and beverages. Each segment has specific testing requirements and regulatory standards.

What recent trends are impacting the North American food safety market? Key trends include the integration of digital technologies like blockchain for traceability, increased mergers and acquisitions among testing firms, and the development of rapid and automated testing kits that provide faster and more accurate results.

Citius Research has developed a research report titled “North American Food Safety Market Report - 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

• North American Food Safety 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 North American Food Safety 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.

North American Food Safety Market Segmentation

Market Segmentation

Regions Covered

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

North American Food Safety Market Analysis

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

• Overview of North American Food Safety Market
• Research Methodology
• Executive Summary
• Market Dynamics of North American Food Safety 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 North American Food Safety Market
• Cost and Gross Margin Analysis of North American Food Safety Market
• North American Food Safety Market Report - 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 “North American Food Safety Market Report - 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.

North American Food Safety Market Key Stakeholders

Below are the key stakeholders for the North American Food Safety Market:

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

North American Food Safety 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 North American Food Safety 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 North American Food Safety 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 North American Food Safety 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 North American Food Safety 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 North American Food Safety Market is expected to grow at a CAGR of XX% from 2023 to 2030.
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For further details request a free sample copy of this report here.
For further details request a free sample copy of this report here.
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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 North American Food Safety 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 North American Food Safety 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 North American Food Safety 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 North American Food Safety 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 North American Food Safety 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 North American Food Safety 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 North American Food Safety 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 North American Food Safety 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 North American Food Safety 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 North American Food Safety 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 North American Food Safety 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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