Pesticide Residue 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: CR0196844
  • Format: Electronic (PDF)
  • Number of Pages: 186
  • Author(s): Joshi, Madhavi

Report Overview

The Pesticide Residue 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).

Pesticide Residue 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 pesticide residue testing market is a critical segment within the food safety and quality control industry, focused on detecting and quantifying chemical residues in food products. This market has gained substantial importance due to increasing global concerns about food safety, stringent government regulations, and rising consumer awareness regarding health risks associated with pesticide exposure. Testing is mandated across the food supply chain, from raw agricultural produce to processed foods, to ensure compliance with Maximum Residue Limits (MRLs) set by regulatory bodies worldwide. The market encompasses a wide range of technologies and services offered by various laboratories and companies, catering to the needs of food manufacturers, retailers, and government agencies. The consistent emphasis on preventing foodborne illnesses and adhering to international trade standards drives the continuous demand for these testing services, making it an indispensable component of modern food safety systems.

Key Highlights

The pesticide residue testing market is characterized by several key highlights that underscore its dynamic nature. Technological advancements in analytical techniques, such as high-performance liquid chromatography and gas chromatography-mass spectrometry, have significantly improved detection sensitivity and accuracy. The market is also witnessing a trend towards multi-residue testing methods, which allow for the simultaneous detection of numerous pesticides in a single sample, enhancing efficiency and throughput. Furthermore, the increasing adoption of rapid testing kits and portable devices is providing on-site screening solutions, which are particularly valuable for preliminary assessments in the field or at processing facilities. The growing focus on organic food products has led to specialized testing services to verify claims and ensure authenticity. Additionally, collaborations between public agencies and private laboratories are strengthening the overall testing infrastructure and capabilities globally.

Drivers, Opportunities & Restraints

Several drivers propel the pesticide residue testing market forward, including stringent food safety regulations imposed by authorities like the FDA and EFSA, which mandate rigorous testing protocols. Increasing consumer awareness and demand for safe, residue-free food products further accelerate market growth. The globalization of food supply chains necessitates compliance with diverse international standards, creating a consistent need for testing services. Opportunities abound in the development of novel testing technologies that offer faster results and lower costs, as well as expansion into emerging markets where regulatory frameworks are evolving. The rise of contract testing services presents another lucrative avenue for market players. However, the market faces restraints such as high costs associated with advanced testing equipment and skilled labor requirements. Variability in regulatory standards across regions can also pose challenges for global food exporters. Additionally, the complexity of testing certain food matrices and the need for continuous method validation remain significant hurdles.

Concentration Insights

The concentration of pesticide residue testing activities is notably high in regions with strict regulatory environments and well-established food safety infrastructures. Europe and North America are prominent hubs due to their comprehensive regulatory frameworks and high consumer awareness. Within these regions, key countries include the United States, Germany, France, and the United Kingdom, where major testing laboratories and service providers are headquartered. The market is also concentrated around food import and export points, as border inspections and compliance checks are critical. In Asia-Pacific, countries like China and India are emerging as significant centers due to increasing domestic regulations and growing export-oriented agriculture. The presence of leading companies such as SGS, Eurofins Scientific, and Bureau Veritas in these regions further amplifies market concentration. These players often operate extensive laboratory networks to cater to local and international demands, ensuring widespread coverage and service availability.

Type Insights

Pesticide residue testing can be categorized based on the type of pesticides detected, including insecticides, herbicides, fungicides, and others. Insecticide testing is particularly prominent due to the widespread use of these chemicals in agriculture to protect crops from pests. Herbicide testing is also significant, driven by their application in weed control, while fungicide testing gains importance in preventing fungal diseases in produce. Additionally, there is growing attention on testing for rodenticides and nematicides. The market also differentiates between single-residue and multi-residue testing methods. Multi-residue testing is increasingly favored for its efficiency in screening multiple compounds simultaneously, using advanced techniques like LC-MS/MS and GC-MS. Single-residue methods are employed for specific pesticides where targeted analysis is required. The choice of testing type depends on regulatory requirements, crop type, and the suspected pesticides used, with laboratories offering tailored solutions to meet diverse client needs.

Application Insights

Pesticide residue testing finds applications across various segments within the food and beverages industry. Key applications include testing of fruits and vegetables, which are highly susceptible to pesticide use and constitute a major share of testing volumes. Cereals and grains are another critical segment due to their staple nature and extensive cultivation practices involving pesticides. Processed foods, dairy products, and meat are also subjected to residue testing to ensure safety throughout the supply chain. Additionally, testing is applied in beverages, including fruit juices and wines, where raw agricultural ingredients may carry residues. The organic food sector relies heavily on testing to verify compliance with organic standards and prevent contamination. Each application requires specific sampling and analytical approaches based on the matrix complexity and the pesticides of concern, driving specialized service offerings from testing providers.

Regional Insights

Regionally, the pesticide residue testing market exhibits distinct patterns influenced by regulatory frameworks, agricultural practices, and economic development. North America and Europe dominate the market, characterized by stringent food safety laws and high consumer awareness. The United States and Canada in North America, along with countries like Germany, France, and the UK in Europe, have well-established testing infrastructures. The Asia-Pacific region is experiencing rapid growth due to increasing government initiatives, expanding food exports, and rising domestic health concerns. Countries such as China, India, and Japan are key contributors, with growing investments in food safety testing laboratories. Latin America and the Middle East & Africa are emerging markets, where evolving regulations and economic development are gradually boosting demand for testing services. Each region presents unique opportunities and challenges, shaped by local agricultural outputs and regulatory dynamics.

Company Insights

The pesticide residue testing market features several prominent companies that provide comprehensive testing services and solutions. Key players include SGS SA, Eurofins Scientific, Bureau Veritas, Intertek Group plc, and ALS Limited, among others. These companies offer a wide range of services, from routine testing to specialized analytical methods, leveraging advanced technologies and extensive laboratory networks. They cater to diverse clients, including food manufacturers, retailers, and government agencies, ensuring compliance with international standards. Many of these firms also engage in research and development to innovate testing methodologies and expand their service portfolios. The competitive landscape is marked by strategic acquisitions, partnerships, and geographic expansions to enhance market presence and capabilities. These companies emphasize accreditation and quality assurance to maintain credibility and meet the evolving demands of the food industry.

Recent Developments

Recent developments in the pesticide residue testing market reflect ongoing advancements and strategic movements. There has been a notable increase in the adoption of high-throughput screening technologies, enabling faster and more efficient analysis of samples. Companies are investing in automation and digitalization to streamline laboratory operations and improve data accuracy. Strategic acquisitions and partnerships are common, as firms seek to expand their geographic reach and service offerings. For instance, leading players have acquired smaller laboratories to strengthen their presence in emerging markets. Additionally, there is a growing focus on developing testing methods for new and emerging pesticides, as well as for complex food matrices. Regulatory updates, such as revisions to MRLs by authorities like the EPA and EFSA, continue to shape testing requirements and drive innovation in the industry.

Report Segmentation

This market research report on the pesticide residue testing market is segmented to provide detailed insights across various dimensions. The segmentation includes by type, covering insecticides, herbicides, fungicides, and other pesticide categories. By application, the report analyzes testing demand in fruits & vegetables, cereals & grains, processed foods, dairy products, meat, and beverages. Geographically, the market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa, with further breakdowns by key countries. Additionally, the report segments by technology, distinguishing between traditional methods and advanced techniques like chromatography and spectroscopy. The segmentation also considers end-users, such as food manufacturers, government agencies, and third-party testing laboratories. This comprehensive approach allows for a thorough understanding of market dynamics, trends, and opportunities within each segment.

FAQs

What are the common methods used for pesticide residue testing? Common methods include gas chromatography, liquid chromatography, mass spectrometry, and immunoassay techniques, which offer high sensitivity and accuracy in detecting residues.

Why is pesticide residue testing important for food safety? It ensures that food products comply with regulatory limits, preventing health risks associated with pesticide exposure and maintaining consumer trust in food quality.

Which foods are most commonly tested for pesticide residues? Fruits, vegetables, cereals, and grains are frequently tested due to high pesticide use in their cultivation and their significant consumption.

How do regulations impact pesticide residue testing? Regulations set Maximum Residue Limits (MRLs) that mandate testing requirements, driving demand for services and influencing testing protocols globally.

What factors affect the cost of pesticide residue testing? Costs depend on the number of pesticides tested, the complexity of the food matrix, the technology used, and the turnaround time required.

Citius Research has developed a research report titled “Pesticide Residue 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

• Pesticide Residue 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 Pesticide Residue 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.

Pesticide Residue Testing Market Segmentation

Market Segmentation

Regions Covered

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

Pesticide Residue Testing Market Analysis

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

• Overview of Pesticide Residue Testing Market
• Research Methodology
• Executive Summary
• Market Dynamics of Pesticide Residue 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 Pesticide Residue Testing Market
• Cost and Gross Margin Analysis of Pesticide Residue Testing Market
• Pesticide Residue 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 “Pesticide Residue 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.

Pesticide Residue Testing Market Key Stakeholders

Below are the key stakeholders for the Pesticide Residue Testing Market:

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

Pesticide Residue 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 Pesticide Residue 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 Pesticide Residue 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 Pesticide Residue 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 Pesticide Residue 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 Pesticide Residue 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 Pesticide Residue 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 Pesticide Residue 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 Pesticide Residue 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 Pesticide Residue 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 Pesticide Residue 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 Pesticide Residue 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 Pesticide Residue 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 Pesticide Residue 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 Pesticide Residue 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 Pesticide Residue 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 Pesticide Residue 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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