The Organic Acids in Animal Nutrition Market is expected to register a CAGR of 6% from 2025 to 2031, with a market size expanding from US$ XX million in 2024 to US$ XX Million by 2031.
The report is segmented by By Type (Formic Acid, Propionic Acid, Acetic Acid, Citric Acid, Lactic Acid, Sorbic Acid, and Others). The report is also segmented based on Application (Poultry, Ruminant, Swine, Aquaculture, and Others). The report scope covers 5 regions: North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America and key countries under each region. The global analysis is further broken-down at regional level and major countries. The Report Offers the Value in USD for the above analysis and segments.
Purpose of the ReportThe report Organic Acids in Animal Nutrition Market by The Insight Partners aims to describe the present landscape and future growth, top driving factors, challenges, and opportunities. This will provide insights to various business stakeholders, such as:
- Technology Providers/Manufacturers: To understand the evolving market dynamics and know the potential growth opportunities, enabling them to make informed strategic decisions.
- Investors: To conduct a comprehensive trend analysis regarding the market growth rate, market financial projections, and opportunities that exist across the value chain.
- Regulatory bodies: To regulate policies and police activities in the market with the aim of minimizing abuse, preserving investor trust and confidence, and upholding the integrity and stability of the market.
Organic Acids in Animal Nutrition Market Segmentation
Type- Formic Acid
- Propionic Acid
- Acetic Acid
- Citric Acid
- Lactic Acid
- Sorbic Acid
- Poultry
- Ruminant
- Swine
- Aquaculture
Strategic Insights
Organic Acids in Animal Nutrition Market Growth Drivers- Ban on Antibiotic Growth Promoters Driving Demand: The biggest driver for the organic acid market in animal nutrition is the ban on the use of AGPs in Europe. The ban led to a big shift in livestock industries seeking alternative methods to promote growth and health in animals. Organic acids, in turn, have been one alternative to such antibiotic growth promoters but with risks from antibiotic residues in animal products unlikely to be attached.
- Improved Animal Health and Performance: Organic acids improve feed quality, thus improving the animal's performance. The decrease in pH level in the gastrointestinal tract creates an environment favoring the growth of beneficial bacteria and reduces the environment that would allow pathogenic bacteria to grow more vigorously. Changes lead to improved animal health, promoting nutrient absorption, which is crucial for determining the growth rates and feed efficiencies, hence prime importance to livestock producers.
- Consumer Demand for Antibiotic-Free Meat: The level of organic acid adoption in animal diets is the increasing demands by consumers to obtain antibiotic-free meat. There has always been a perception that meats are derived through antibiotics; thus, eliminating the use of the antibiotics gives an alternative dimension to achieve consumer confidence. Consumers have become increasingly health-conscious and fearful of the efficacy of antibiotics in causing resistance; as such, producers have been motivated to adopt practices that answer to these preferences. Probably, overtime, consumers' dependence on AGPs for better growth performance is going to decline, and organic acid is the sustainable and effective alternative.
- Organic Acids in Animal Nutrition, A Key Focus on Gut Health: The trend that is high for organic acids in animal nutrition primarily revolves around gut health. The livestock producers have progressively come to recognize the importance of gut microbiota in the overall maintenance of health and performance in animals, increasing the use of organic acids in feeds. The type of acid determines the gut environment required for optimal nutrient utilization and resistance to disease.
- Benefits of Organic Acids in Improving Digestion and Disease Resistance in Livestock: Organic acids, mainly formic, propionic, and lactic acids, have been identified as having the potential to acidify the gastrointestinal tract. This acidity condition suppresses the proliferation of harmful pathogens but promotes beneficial bacteria. Because of the foregoing functions, the animal improves its digestion and nutrient utilization so that efficient growth rates are also seen in overall health, which is essential for profitable livestock operations.
- Rising Consumer Demand for Healthier Animal Products Drives Organic Acid Usage: Healthier animal products, also, have been in high demand by consumers. In response to growing consumer concerns over the use of antibiotics in livestock production, producers need to seek alternatives that enhance animal welfare and product safety. Expectation of organic acid-based gut health by the consumer is met without any rise in unsustainable practices, thereby making this trend be a key driver in the organic acid market for animal nutrition.
- Opportunities for Organic Acids in Animal Nutrition: Expansion of emerging markets Organic acid market in animal nutrition would have one major thrust opportunity. With many countries from Asia, Africa, and Latin America experiencing faster-than-average growth, the demand for animal protein increases. The boom in demand provides a unique opportunity for organic acids to improve livestock production efficiency and be used to meet the nutritional needs of a booming population.
- Boost in Demand for Animal Protein in Asia, Africa, and Latin America: Rising modernization of farm practice in emerging markets has augmented the pace of innovation adoption in feed additives to improve the quality of feed, enhance digestibility, and promote gut health. This will increase awareness about the benefits and, hence, usage in animal diets, consequently driving growth in these markets.
- Regulatory Changes and Animal Welfare Drive Adoption of Organic Acids as Alternatives to Antibiotics: Another aspect is that regulation of most emerging markets is changing. More attention is being placed on food safety and also on animal welfare. Organic acids are therefore a perfect fit to come in as an alternative to antibiotic growth promoters as livestock producers strive for answers to these challenges. Such advantages in terms of animal nutrition reinforce the opportunity for organic acids both in terms of healthier livestock and reduced antibiotic residues in animal products.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Organic Acids in Animal Nutrition Market, providing a holistic landscape.
- Expert Analysis: The report is compiled based on the in-depth understanding of industry experts and analysts.
- Up-to-date Information: The report assures business relevance due to its coverage of recent information and data trends.
- Customization Options: This report can be customized to cater to specific client requirements and suit the business strategies aptly.
The research report on the Organic Acids in Animal Nutrition Market can, therefore, help spearhead the trail of decoding and understanding the industry scenario and growth prospects. Although there can be a few valid concerns, the overall benefits of this report tend to outweigh the disadvantages.
REGIONAL FRAMEWORK
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Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
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to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
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to country scope.
Frequently Asked Questions
Based on geography, Europe is expected to register the fastest CAGR from 2023 to 2031.
The report can be delivered in PDF/Word format, we can also share excel data sheet based on request.
Increasing focus on gut health is one of the key trends for the market growth.
DSM, Nutreco, BASF SE, Kemin Industries Inc, Eastman Chemical Company, ADM, Cargill Incorporated, Dow, Celanese Corporation, and Helan Jindan Lactic Acid are among the leading players operating in the organic acids for animal nutrition market.
The Organic Acids in Animal Nutrition Market is estimated to witness a CAGR of 6% from 2023 to 2031
Ban on antibiotic growth promoters is driving the market growth
1.INTRODUCTION
1.1.SCOPE OF THE STUDY
1.2.THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3.MARKET SEGMENTATION
1.3.1Organic Acids In Animal Nutrition Market - By Type
1.3.2Organic Acids In Animal Nutrition Market - By Application
1.3.3Organic Acids In Animal Nutrition Market - By Region
1.3.3.1By Country
2.KEY TAKEAWAYS
3.RESEARCH METHODOLOGY
4.ORGANIC ACIDS IN ANIMAL NUTRITION MARKET LANDSCAPE
4.1.OVERVIEW
4.2.PEST ANALYSIS
4.2.1North America - Pest Analysis
4.2.2Europe - Pest Analysis
4.2.3Asia-Pacific - Pest Analysis
4.2.4Middle East and Africa - Pest Analysis
4.2.5South and Central America - Pest Analysis
4.3.EXPERT OPINIONS
5.ORGANIC ACIDS IN ANIMAL NUTRITION MARKET - KEY MARKET DYNAMICS
5.1.KEY MARKET DRIVERS
5.2.KEY MARKET RESTRAINTS
5.3.KEY MARKET OPPORTUNITIES
5.4.FUTURE TRENDS
5.5.IMPACT ANALYSIS OF DRIVERS AND RESTRAINTS
6.ORGANIC ACIDS IN ANIMAL NUTRITION MARKET - GLOBAL MARKET ANALYSIS
6.1.ORGANIC ACIDS IN ANIMAL NUTRITION - GLOBAL MARKET OVERVIEW
6.2.ORGANIC ACIDS IN ANIMAL NUTRITION - GLOBAL MARKET AND FORECAST TO 2028
6.3.MARKET POSITIONING/MARKET SHARE
7.ORGANIC ACIDS IN ANIMAL NUTRITION MARKET - REVENUE AND FORECASTS TO 2028 " TYPE
7.1.OVERVIEW
7.2.TYPE MARKET FORECASTS AND ANALYSIS
7.3.ACETIC ACID
7.3.1.Overview
7.3.2.Acetic acid Market Forecast and Analysis
7.4.CITRIC ACID
7.4.1.Overview
7.4.2.Citric acid Market Forecast and Analysis
7.5.FORMIC ACID
7.5.1.Overview
7.5.2.Formic acid Market Forecast and Analysis
7.6.LACTIC ACID
7.6.1.Overview
7.6.2.Lactic acid Market Forecast and Analysis
7.7.PROPIONIC ACID
7.7.1.Overview
7.7.2.Propionic acid Market Forecast and Analysis
7.8.ASCORBIC ACID
7.8.1.Overview
7.8.2.Ascorbic acid Market Forecast and Analysis
7.9.GLUCONIC ACID
7.9.1.Overview
7.9.2.Gluconic acid Market Forecast and Analysis
7.10.FUMARIC ACID
7.10.1.Overview
7.10.2.Fumaric acid Market Forecast and Analysis
7.11.MALIC ACID
7.11.1.Overview
7.11.2.Malic acid Market Forecast and Analysis
8.ORGANIC ACIDS IN ANIMAL NUTRITION MARKET - REVENUE AND FORECASTS TO 2028 " APPLICATION
8.1.OVERVIEW
8.2.APPLICATION MARKET FORECASTS AND ANALYSIS
8.3.POULTRY
8.3.1.Overview
8.3.2.Poultry Market Forecast and Analysis
8.4.LIVESTOCK
8.4.1.Overview
8.4.2.Livestock Market Forecast and Analysis
9.ORGANIC ACIDS IN ANIMAL NUTRITION MARKET REVENUE AND FORECASTS TO 2028 " GEOGRAPHICAL ANALYSIS
9.1.NORTH AMERICA
9.1.1North America Organic Acids In Animal Nutrition Market Overview
9.1.2North America Organic Acids In Animal Nutrition Market Forecasts and Analysis
9.1.3North America Organic Acids In Animal Nutrition Market Forecasts and Analysis - By Type
9.1.4North America Organic Acids In Animal Nutrition Market Forecasts and Analysis - By Application
9.1.5North America Organic Acids In Animal Nutrition Market Forecasts and Analysis - By Countries
9.1.5.1United States Organic Acids In Animal Nutrition Market
9.1.5.1.1United States Organic Acids In Animal Nutrition Market by Type
9.1.5.1.2United States Organic Acids In Animal Nutrition Market by Application
9.1.5.2Canada Organic Acids In Animal Nutrition Market
9.1.5.2.1Canada Organic Acids In Animal Nutrition Market by Type
9.1.5.2.2Canada Organic Acids In Animal Nutrition Market by Application
9.1.5.3Mexico Organic Acids In Animal Nutrition Market
9.1.5.3.1Mexico Organic Acids In Animal Nutrition Market by Type
9.1.5.3.2Mexico Organic Acids In Animal Nutrition Market by Application
9.2.EUROPE
9.2.1Europe Organic Acids In Animal Nutrition Market Overview
9.2.2Europe Organic Acids In Animal Nutrition Market Forecasts and Analysis
9.2.3Europe Organic Acids In Animal Nutrition Market Forecasts and Analysis - By Type
9.2.4Europe Organic Acids In Animal Nutrition Market Forecasts and Analysis - By Application
9.2.5Europe Organic Acids In Animal Nutrition Market Forecasts and Analysis - By Countries
9.2.5.1Germany Organic Acids In Animal Nutrition Market
9.2.5.1.1Germany Organic Acids In Animal Nutrition Market by Type
9.2.5.1.2Germany Organic Acids In Animal Nutrition Market by Application
9.2.5.2France Organic Acids In Animal Nutrition Market
9.2.5.2.1France Organic Acids In Animal Nutrition Market by Type
9.2.5.2.2France Organic Acids In Animal Nutrition Market by Application
9.2.5.3Italy Organic Acids In Animal Nutrition Market
9.2.5.3.1Italy Organic Acids In Animal Nutrition Market by Type
9.2.5.3.2Italy Organic Acids In Animal Nutrition Market by Application
9.2.5.4United Kingdom Organic Acids In Animal Nutrition Market
9.2.5.4.1United Kingdom Organic Acids In Animal Nutrition Market by Type
9.2.5.4.2United Kingdom Organic Acids In Animal Nutrition Market by Application
9.2.5.5Russia Organic Acids In Animal Nutrition Market
9.2.5.5.1Russia Organic Acids In Animal Nutrition Market by Type
9.2.5.5.2Russia Organic Acids In Animal Nutrition Market by Application
9.2.5.6Rest of Europe Organic Acids In Animal Nutrition Market
9.2.5.6.1Rest of Europe Organic Acids In Animal Nutrition Market by Type
9.2.5.6.2Rest of Europe Organic Acids In Animal Nutrition Market by Application
9.3.ASIA-PACIFIC
9.3.1Asia-Pacific Organic Acids In Animal Nutrition Market Overview
9.3.2Asia-Pacific Organic Acids In Animal Nutrition Market Forecasts and Analysis
9.3.3Asia-Pacific Organic Acids In Animal Nutrition Market Forecasts and Analysis - By Type
9.3.4Asia-Pacific Organic Acids In Animal Nutrition Market Forecasts and Analysis - By Application
9.3.5Asia-Pacific Organic Acids In Animal Nutrition Market Forecasts and Analysis - By Countries
9.3.5.1Australia Organic Acids In Animal Nutrition Market
9.3.5.1.1Australia Organic Acids In Animal Nutrition Market by Type
9.3.5.1.2Australia Organic Acids In Animal Nutrition Market by Application
9.3.5.2China Organic Acids In Animal Nutrition Market
9.3.5.2.1China Organic Acids In Animal Nutrition Market by Type
9.3.5.2.2China Organic Acids In Animal Nutrition Market by Application
9.3.5.3India Organic Acids In Animal Nutrition Market
9.3.5.3.1India Organic Acids In Animal Nutrition Market by Type
9.3.5.3.2India Organic Acids In Animal Nutrition Market by Application
9.3.5.4Japan Organic Acids In Animal Nutrition Market
9.3.5.4.1Japan Organic Acids In Animal Nutrition Market by Type
9.3.5.4.2Japan Organic Acids In Animal Nutrition Market by Application
9.3.5.5South Korea Organic Acids In Animal Nutrition Market
9.3.5.5.1South Korea Organic Acids In Animal Nutrition Market by Type
9.3.5.5.2South Korea Organic Acids In Animal Nutrition Market by Application
9.3.5.6Rest of Asia-Pacific Organic Acids In Animal Nutrition Market
9.3.5.6.1Rest of Asia-Pacific Organic Acids In Animal Nutrition Market by Type
9.3.5.6.2Rest of Asia-Pacific Organic Acids In Animal Nutrition Market by Application
9.4.MIDDLE EAST AND AFRICA
9.4.1Middle East and Africa Organic Acids In Animal Nutrition Market Overview
9.4.2Middle East and Africa Organic Acids In Animal Nutrition Market Forecasts and Analysis
9.4.3Middle East and Africa Organic Acids In Animal Nutrition Market Forecasts and Analysis - By Type
9.4.4Middle East and Africa Organic Acids In Animal Nutrition Market Forecasts and Analysis - By Application
9.4.5Middle East and Africa Organic Acids In Animal Nutrition Market Forecasts and Analysis - By Countries
9.4.5.1South Africa Organic Acids In Animal Nutrition Market
9.4.5.1.1South Africa Organic Acids In Animal Nutrition Market by Type
9.4.5.1.2South Africa Organic Acids In Animal Nutrition Market by Application
9.4.5.2Saudi Arabia Organic Acids In Animal Nutrition Market
9.4.5.2.1Saudi Arabia Organic Acids In Animal Nutrition Market by Type
9.4.5.2.2Saudi Arabia Organic Acids In Animal Nutrition Market by Application
9.4.5.3U.A.E Organic Acids In Animal Nutrition Market
9.4.5.3.1U.A.E Organic Acids In Animal Nutrition Market by Type
9.4.5.3.2U.A.E Organic Acids In Animal Nutrition Market by Application
9.4.5.4Rest of Middle East and Africa Organic Acids In Animal Nutrition Market
9.4.5.4.1Rest of Middle East and Africa Organic Acids In Animal Nutrition Market by Type
9.4.5.4.2Rest of Middle East and Africa Organic Acids In Animal Nutrition Market by Application
9.5.SOUTH AND CENTRAL AMERICA
9.5.1South and Central America Organic Acids In Animal Nutrition Market Overview
9.5.2South and Central America Organic Acids In Animal Nutrition Market Forecasts and Analysis
9.5.3South and Central America Organic Acids In Animal Nutrition Market Forecasts and Analysis - By Type
9.5.4South and Central America Organic Acids In Animal Nutrition Market Forecasts and Analysis - By Application
9.5.5South and Central America Organic Acids In Animal Nutrition Market Forecasts and Analysis - By Countries
9.5.5.1Brazil Organic Acids In Animal Nutrition Market
9.5.5.1.1Brazil Organic Acids In Animal Nutrition Market by Type
9.5.5.1.2Brazil Organic Acids In Animal Nutrition Market by Application
9.5.5.2Argentina Organic Acids In Animal Nutrition Market
9.5.5.2.1Argentina Organic Acids In Animal Nutrition Market by Type
9.5.5.2.2Argentina Organic Acids In Animal Nutrition Market by Application
9.5.5.3Rest of South and Central America Organic Acids In Animal Nutrition Market
9.5.5.3.1Rest of South and Central America Organic Acids In Animal Nutrition Market by Type
9.5.5.3.2Rest of South and Central America Organic Acids In Animal Nutrition Market by Application
10.INDUSTRY LANDSCAPE
10.1.MERGERS AND ACQUISITIONS
10.2.AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
10.3.NEW PRODUCT LAUNCHES
10.4.EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
11.ORGANIC ACIDS IN ANIMAL NUTRITION MARKET, KEY COMPANY PROFILES
11.1.ARCHER DANIELS MIDLAND
11.1.1.Key Facts
11.1.2.Business Description
11.1.3.Products and Services
11.1.4.Financial Overview
11.1.5.SWOT Analysis
11.1.6.Key Developments
11.2.BASF
11.2.1.Key Facts
11.2.2.Business Description
11.2.3.Products and Services
11.2.4.Financial Overview
11.2.5.SWOT Analysis
11.2.6.Key Developments
11.3.CARGILL
11.3.1.Key Facts
11.3.2.Business Description
11.3.3.Products and Services
11.3.4.Financial Overview
11.3.5.SWOT Analysis
11.3.6.Key Developments
11.4.CORBION
11.4.1.Key Facts
11.4.2.Business Description
11.4.3.Products and Services
11.4.4.Financial Overview
11.4.5.SWOT Analysis
11.4.6.Key Developments
11.5.DUPONT
11.5.1.Key Facts
11.5.2.Business Description
11.5.3.Products and Services
11.5.4.Financial Overview
11.5.5.SWOT Analysis
11.5.6.Key Developments
11.6.EASTMAN CHEMICAL
11.6.1.Key Facts
11.6.2.Business Description
11.6.3.Products and Services
11.6.4.Financial Overview
11.6.5.SWOT Analysis
11.6.6.Key Developments
11.7.HENAN JINDAN LACTIC ACID TECHNOLOGY
11.7.1.Key Facts
11.7.2.Business Description
11.7.3.Products and Services
11.7.4.Financial Overview
11.7.5.SWOT Analysis
11.7.6.Key Developments
11.8.KONINKLIJKE DSM
11.8.1.Key Facts
11.8.2.Business Description
11.8.3.Products and Services
11.8.4.Financial Overview
11.8.5.SWOT Analysis
11.8.6.Key Developments
11.9.MYRIANT
11.9.1.Key Facts
11.9.2.Business Description
11.9.3.Products and Services
11.9.4.Financial Overview
11.9.5.SWOT Analysis
11.9.6.Key Developments
11.10.POLYNT-REICHHOLD
11.10.1.Key Facts
11.10.2.Business Description
11.10.3.Products and Services
11.10.4.Financial Overview
11.10.5.SWOT Analysis
11.10.6.Key Developments
12.APPENDIX
12.1.ABOUT THE INSIGHT PARTNERS
12.2.GLOSSARY OF TERMS
1. Archer Daniels Midland
2. BASF
3. Cargill
4. Corbion
5. Dupont
6. Eastman Chemical
7. Henan Jindan Lactic Acid Technology
8. Koninklijke DSM
9. Myriant
10. Polynt-Reichhold
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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