Rapid Test 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: CR0196206
  • Format: Electronic (PDF)
  • Number of Pages: 198
  • Author(s): Joshi, Madhavi

Report Overview

The Rapid Test 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).

Rapid Test 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 Thermo Fisher Scientific, PerkinElmer, Merck, Bio-Rad, Qiagen

Market Summary

The rapid test market within the food and beverages industry is a critical segment focused on providing swift, on-site detection solutions for various contaminants and quality parameters. These tests are designed to deliver results within minutes, enabling real-time decision-making for food safety and quality assurance. The market encompasses a wide array of testing needs, including pathogen detection, allergen identification, GMO testing, and spoilage indicators. The increasing globalization of the food supply chain has heightened the demand for rapid testing technologies to ensure compliance with stringent international food safety standards and regulations. Companies across the food production, processing, and distribution spectrum are increasingly adopting these tests to mitigate risks, prevent costly recalls, and protect brand reputation. The evolution of technology has led to the development of more sophisticated, user-friendly, and accurate rapid test kits, making them an indispensable tool for modern food safety management systems.

Key Highlights

The rapid test market is characterized by its dynamic technological advancements, particularly in immunoassay and molecular-based detection methods. A key highlight is the significant shift towards multiplex testing, which allows for the simultaneous detection of multiple analytes from a single sample, greatly enhancing efficiency and throughput. The integration of digital technology and connectivity features is another prominent trend, with many tests now offering data logging, cloud-based result storage, and mobile app integration for improved traceability and record-keeping. The market is also witnessing a surge in demand for tests targeting specific emerging contaminants and allergens, driven by increasing consumer awareness and regulatory scrutiny. The development of tests with higher sensitivity and specificity continues to be a major focus for leading manufacturers, ensuring reliable results even at very low detection limits. The portability and ease-of-use of these tests have democratized food safety testing, allowing it to be performed at various points in the supply chain, from the farm to the processing plant and even at the point-of-sale.

Drivers, Opportunities & Restraints

The primary driver for the rapid test market is the stringent and ever-evolving global food safety regulations imposed by bodies like the FDA and EFSA, which compel food businesses to implement robust testing protocols. Increasing consumer awareness about foodborne illnesses and a growing demand for transparency in the food supply chain further propel market growth. The rise in international trade of food products necessitates reliable and swift testing to clear goods at borders and ensure they meet import requirements. A significant opportunity lies in the expansion of testing applications beyond traditional pathogens to include areas like food authenticity, fraud detection, and nutritional content analysis. The growing adoption of rapid tests by small and medium-sized enterprises, driven by the availability of cost-effective solutions, presents a substantial growth avenue. However, the market faces restraints such as the high initial cost of advanced automated systems and the need for technical expertise to operate some complex assays, which can be a barrier for smaller operators. The occurrence of false positive or false negative results, though rare with modern tests, remains a concern that manufacturers continuously work to mitigate through improved design and validation.

Concentration Insights

The competitive landscape of the rapid test market is moderately concentrated, with a mix of large, established multinational corporations and specialized niche players. Leading companies like Thermo Fisher Scientific, Merck KGaA, and bioM?rieux SA hold significant market shares due to their extensive product portfolios, strong global distribution networks, and substantial investment in research and development. These giants often compete on the basis of technological innovation, offering integrated systems that combine rapid testing with data management solutions. Alongside them, a number of agile, specialized firms focus on developing innovative tests for specific applications, such as novel allergen detection or rapid spoilage indicators. This creates a dynamic environment where competition is based on factors like accuracy, speed, cost per test, and ease of use. Strategic activities in the market frequently include mergers and acquisitions, where larger companies absorb smaller innovators to bolster their technological capabilities and expand their market reach into new application segments or geographic regions.

Type Insights

Rapid tests in the food and beverages industry are broadly categorized based on their underlying technology. Immunoassay-based tests, including lateral flow assays (dipsticks and strips) and enzyme-linked immunosorbent assays (ELISA), represent a dominant segment due to their reliability, specificity, and ease of use for detecting proteins, allergens, and certain pathogens. Molecular-based tests, such as polymerase chain reaction (PCR) and isothermal amplification, are gaining prominence for their high sensitivity and ability to detect genetic material from pathogens like Salmonella, Listeria, and E. coli, even in complex food matrices. Biosensor-based tests are an emerging category, offering real-time or near-real-time detection by converting a biological response into an electrical signal. Other types include nucleic acid-based hybridization tests and chromatography-based tests for mycotoxin analysis. The choice of test type is influenced by the specific analyte, required detection limit, sample type, and the need for quantitative versus qualitative results, with many laboratories employing a combination of these technologies to meet their comprehensive testing needs.

Application Insights

The application of rapid tests spans the entire food and beverage industry, ensuring safety and quality from raw material intake to finished product release. Meat, poultry, and seafood products constitute a major application segment due to their high susceptibility to microbial contamination like Salmonella and Campylobacter, requiring rigorous pathogen testing. The dairy industry extensively uses rapid tests for antibiotic residue screening in milk and for monitoring fermentation processes. Fruit and vegetable processors employ these tests to check for pesticide residues and pathogenic bacteria. A rapidly growing application is allergen testing, critical for preventing cross-contamination and ensuring accurate labeling to protect consumers with food allergies. Furthermore, rapid tests are crucial in testing for mycotoxins in grains and nuts, spoilage organisms in beverages, and for verifying the authenticity of ingredients to combat food fraud. The breadth of application underscores the vital role these tests play in upholding the integrity of the global food supply.

Regional Insights

Adoption and development of rapid testing technologies exhibit distinct regional patterns influenced by regulatory frameworks, industrial development, and consumer awareness. North America and Europe are mature and leading markets, characterized by well-established food safety regulations, high consumer awareness, and the presence of major market players. These regions exhibit a strong demand for advanced, automated testing systems. The Asia-Pacific region is identified as the fastest-growing market, driven by expanding food processing industries, increasing foreign direct investment, and the gradual implementation of stricter food safety laws in countries like China and India. Growing middle-class populations and rising concerns over food safety scandals are key growth drivers in this region. Latin America and the Middle East and Africa are emerging markets where growth is fueled by economic development, increasing exports of food products which must meet international standards, and growing governmental focus on improving domestic food safety infrastructure.

Company Insights

The rapid test market features a competitive arena with companies striving for leadership through innovation and global expansion. Thermo Fisher Scientific Inc. is a prominent player, offering a comprehensive suite of solutions under its Applied Biosystems and Oxoid brands, known for advanced molecular diagnostics and culture media. bioM?rieux SA is another key contender, specializing in microbiology and immunoassay testing with a strong focus on automation and data management through its VIDAS and TEMPO systems. Merck KGaA provides a wide range of microbiological and allergen testing kits and reagents. Neogen Corporation has a significant presence with its Reveal and Alert lateral flow-based test lines for allergens and toxins. PerkinElmer Inc. and EnviroLogix Inc. are also important contributors, offering tests for food safety and quality parameters. These companies compete intensely on technological prowess, product reliability, speed of detection, and the ability to provide complete analytical solutions that include instrumentation, reagents, and software.

Recent Developments

The rapid test market is continuously evolving, with recent developments focusing on enhancing speed, connectivity, and multiplexing capabilities. A notable trend is the introduction of digital lateral flow assays that utilize smartphone readers to provide quantitative results, improve accuracy, and facilitate data transfer for compliance reporting. There has been significant progress in the development of CRISPR-based biosensors for ultra-specific detection of foodborne pathogens, representing a next-generation technology. Companies are also launching new multiplex PCR assays capable of detecting a broader panel of pathogens from a single sample, drastically reducing testing time and labor. Strategic partnerships between diagnostic companies and food industry giants are becoming more common, aimed at co-developing tailored testing solutions for specific supply chain challenges. Furthermore, investments in expanding manufacturing capacities, particularly in the Asia-Pacific region, are a key strategic move to cater to the growing local demand and serve global markets more efficiently.

Report Segmentation

This market research report on the rapid test market for the food and beverages industry provides a detailed analysis segmented by type, application, and geography. The segmentation by type covers key technologies such as immunoassay-based tests, molecular-based tests, and biosensor-based tests, providing insights into the adoption trends, advantages, and market share of each technology type. The application segmentation offers a thorough examination of the market across critical areas including meat, poultry, and seafood; dairy products; fruits and vegetables; processed food; and beverages, highlighting the specific testing needs and growth prospects for each segment. The geographical segmentation delivers a comprehensive regional analysis covering North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa, detailing the regulatory environment, key market players, and growth drivers unique to each region. This multi-faceted segmentation allows for a granular understanding of the market dynamics and identification of high-growth segments and regions.

FAQs

What are the different types of rapid tests used in the food industry?

The food industry primarily utilizes immunoassay-based tests like lateral flow devices and ELISA for allergen and pathogen detection, molecular-based tests such as PCR for highly sensitive DNA-based identification, and emerging biosensor technologies for real-time analysis of contaminants and quality parameters.

How do rapid tests compare to traditional laboratory methods?

Rapid tests offer the significant advantage of providing results within minutes or hours directly on-site, whereas traditional lab methods often require days for culture growth. While traditional methods are considered the reference standard, modern rapid tests have achieved high levels of accuracy and are invaluable for swift decision-making and screening purposes.

What are the key drivers for the growth of the food rapid test market?

Market growth is primarily driven by increasingly stringent global food safety regulations, a rise in foodborne illness outbreaks prompting greater vigilance, growing consumer demand for food transparency and safety, and the expansion of the global food trade which requires efficient testing for import and export clearance.

Which food contaminants are most commonly detected with rapid tests?

Common contaminants targeted include pathogenic bacteria like Salmonella, Listeria, and E. coli; allergens such as gluten, peanuts, and milk; mycotoxins like aflatoxin; antibiotic residues; and pesticides. The specific tests used depend on the food product and potential risk factors.

What are the emerging trends in food safety rapid testing?

Emerging trends include the development of multiplex tests that detect multiple contaminants simultaneously, the integration of digital and connected technologies for data management and traceability, the use of CRISPR for specific detection, and a growing focus on applications for food fraud and authenticity testing.

Citius Research has developed a research report titled “Rapid Test 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

• Rapid Test 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 Rapid Test 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.

Rapid Test Market Segmentation

Market Segmentation

Regions Covered

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

Rapid Test Market Analysis

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

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

Rapid Test Market Key Stakeholders

Below are the key stakeholders for the Rapid Test Market:

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

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

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 Rapid Test 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 Rapid Test 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 Rapid Test 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 Rapid Test 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 Rapid Test 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 Rapid Test 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 Rapid Test 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 Rapid Test 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 Rapid Test 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 Rapid Test 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 Rapid Test 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.

Request a detailed Research Methodology for the market.

Request Customization or Sample Report

To request a sample report or for any inquiry regarding this report, please fill out the form below

Yes, I have read the Privacy Policy.

Related Reports






latest reports