Fermented Flavor and Fragrance Ingredients Market Forecast 2030
[Research Report] The fermented flavor and fragrance ingredients market size is expected to grow from US$ 1.34 billion in 2022 to US$ 2.68 billion by 2030; it is expected to register a CAGR of 9.0% from 2022 to 2030.
Market Insights and Analyst View:
Fermented ingredients for flavors and fragrances include flavoring, fragrance, and aromatic ingredients that are produced through the microbial fermentation process. Manufacturers are significantly investing in research and development to manufacture fermentation-derived flavor and fragrance ingredients to meet the rising sustainability, supply, and price concerns related to naturally derived flavors and fragrances. For instance, vanillin derived from natural vanilla pods is very expensive, and its suppliers are highly concentrated across specific geographies, which creates supply challenges. Moreover, the yield of natural vanillin is highly dependent on weather conditions, agricultural practices, and other external factors. It is also a time-consuming process which usually takes 6–7 months for production. All these challenges overcome when this same flavoring agent is produced using a microbial fermentation process. It also results in a higher yield in less time. The rising demand for natural and clean-label claims in convenience food products as well as personal care and cosmetic products, along with sustainable approaches to manufacture various flavoring and aroma ingredients, are expected to create new fermented flavor and fragrance ingredients market trends in the coming years.
Growth Drivers and Challenges:
Flavors and fragrances made via synthetic extraction processes consist of chemicals and other fossil fuels, which can harm the environment and human health. The flavors and fragrances made using fossil fuels increase carbon (CO2) and greenhouse gas emissions. For instance, synthetic vanilla flavor called vanillin is significantly more used flavor than natural vanilla flavors owing to its affordability and availability. But vanillin is synthetically manufactured from fossil fuel and wood pulp. Moreover, the yield of natural vanilla flavor extracted from vanilla pods is extremely low. It takes 500 Kg of vanilla pods to obtain 1 Kg of flavor. Thus, both the traditionally used natural process and synthetic process of flavors and fragrances are not sustainable. Similarly, the production of raspberry aroma by farming would require more than 100 metric ton of raspberries, which translates to ~40 football fields of cultivated acreage—a highly unsustainable use of land. Thus, the production of synthetic ingredients, as well as traditionally produced natural ingredients, can harm the environment.
Fermentation is an alternative technology developed to produce flavors and fragrances through sustainable methods and is also considered "natural." According to the US Environmental Protection Agency (EPA), Bioengineering for Pollution Prevention study, fermentation is a more sustainable method of production than traditional chemical synthesis because it is more resource-efficient and generates fewer byproducts. Thus, the flavors and fragrances produced by fermentation do not harm the environment and are labeled as natural and sustainable ingredients. Thus, rising sustainability concerns among end-use industries such as food & beverages, perfumeries, cosmetics, and personal care boost the demand for fermented flavors and fragrances across the globe, thereby favoring market growth. These factors play an important role in determining the fermented flavor and fragrance ingredients market forecast.
Global fermented flavors and fragrance manufacturers are investing significantly in strategic development initiatives such as product innovation, merger & acquisition, partnerships, production capacity scaleup, and expansion of their businesses to attract consumers and enhance their market position. Increasing sustainability concerns and rising demand for natural and clean-label products from consumers have encouraged end-use industries to adopt natural and sustainable ingredients. Thus, manufacturers are constantly investing and innovating in the area of fermented flavors and fragrances. For instance, in April 2023, Insempra, a biology-powered company, launched its first functional ingredient, a biotechnologically produced, 100% natural "alpha-Ionone" flavor and fragrance ingredient for food and cosmetic applications. The flavor is produced via fermentation. The company also partnered with a leading natural aroma ingredients manufacturer and distributor, "Axxence Aromatic GmbH" to market its products to food and cosmetic manufacturers worldwide. Such initiatives by key market players positively contribute to the fermented flavor and fragrance ingredients market growth.
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Fermented Flavor and Fragrance Ingredients Market: Strategic Insights
Market Size Value in US$ 1.34 billion in 2022 Market Size Value by US$ 2.68 billion by 2030 Growth rate CAGR of 9.0% from 2022 to 2030 Forecast Period 2022-2030 Base Year 2022
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Fermented Flavor and Fragrance Ingredients Market: Strategic Insights
Market Size Value in | US$ 1.34 billion in 2022 |
Market Size Value by | US$ 2.68 billion by 2030 |
Growth rate | CAGR of 9.0% from 2022 to 2030 |
Forecast Period | 2022-2030 |
Base Year | 2022 |
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Speak to AnalystReport Segmentation and Scope:
The fermented flavor and fragrance ingredients market analysis has been carried out by considering the following segments: type, application, and geography. The market, by type, is segmented into fruity, floral, woody, blends, and others. Based on application, the market is segmented into food and beverages, personal care products, cosmetics, and others. The fermented flavor and fragrance ingredients market, by geography, is segmented into North America (the US, Canada, and Mexico), Europe (Germany, France, Italy, the UK, Russia, and the Rest of Europe), Asia Pacific (Australia, China, Japan, India, South Korea, and the Rest of Asia Pacific), the Middle East & Africa (South Africa, Saudi Arabia, the UAE, and the Rest of Middle East & Africa), and South & Central America (Brazil, Argentina, and the Rest of South & Central America).
Segmental Analysis:
Based on type, the fermented flavor and fragrance ingredients market is segmented into fruity, floral, woody, blends, and others. The fruity segment holds significant global fermented flavor and fragrance ingredients market share. However, the market for the floral segment is expected to grow significantly during the forecast period. Floral fragrances are used in personal care products, beverages, perfumes, fabric detergents, and home care products. The fermented rose fragrance is usually made using Rhodotorula minuta (yeast). Takasago International Corporation, one of the leading companies in flavor and fragrance manufacturing, produces fermented floral fragrances. Their product Biocyclamol is derived through the fermentation of sugar cane and delivers the fragrance of cyclamen flower. This product is suitable for application in various products such as fine fragrances, fabric softeners, antiperspirants, toiletries, detergents, and soaps. The market growth for the floral segment is attributed to the shifting focus of end-use industries toward fermented floral fragrances due to the rising demand for naturally derived products.
Regional Analysis:
Based on geography, the scope of the fermented flavor and fragrance ingredients market report is primarily divided into five regions—North America, Europe, Asia Pacific, South & Central America, and the Middle East & Africa. Europe dominated the global fermented flavor and fragrance ingredients market share in 2022. The market in the region was valued at US$ 477.82 million in 2022. However, the market in Asia Pacific is expected to register a CAGR of 10% during the forecast period. In Asia Pacific, consumer preference for natural ingredients is significantly growing. Many consumers believe natural ingredients are healthier, safer, and better for the environment than their synthetic counterparts. The demand for products free of artificial or chemically processed ingredients, including synthetic flavors, fragrances, colors, and sweeteners, is growing. The growing consumer preference for natural ingredients among food & beverages, cosmetics, personal care, home care, and personal care product industries is boosting the demand for fermented flavors and fragrances. Countries such as Japan, China, South Korea, Australia, and India are witnessing growth in urbanization rise in middle-class population, and an increase in demand for naturally derived products. The rising sustainability concerns are also upsurging the demand for microbial-based flavors and fragrances.
The beauty industry in Asia Pacific has been growing rapidly. Companies operating in the beauty industry are also adopting sustainable sourcing and manufacturing practices to improve products' performance and lessen environmental impact. Thus, all these factors are expected to drive the fermented flavor and fragrance ingredients market in the region.
In Europe, the rising concerns about the sustainability and environmental impact of certain flavor and fragrance ingredients such as vanilla, sandalwood, and agarwood drive the demand for fermented flavor and fragrance ingredients. Thus, manufacturers in the region have significantly invested in producing sustainable ingredients. For instance, Koninklijke DSM N.V. and BASF, Europe-based multinational companies, have invested a lump sum amount of US$ 13.5 million toward the microbial production of flavor and fragrance molecules in collaboration with a company named Allylix. Such investments by manufacturers aid in boosting the fermented flavor and fragrance ingredients market growth in Europe.
Fermented Flavor and Fragrance Ingredients Market Report Scope
Industry Developments and Future Opportunities:
Initiatives taken by key players operating in the global fermented flavor and fragrance ingredients market are listed below:
- In July 2020, BASF Nutrition & Health (a German multinational organization) and Isobionics (the Netherlands-based company) launched their first fermented flavor, "Isobionics Santalol," which offers a woody fragrance to the end products. This fragrance is a convincing alternative to sandalwood oil.
- In February 2023, Givaudan SA acquired certain cosmetic ingredients, including Neossance Squalane, Neossance Hemisqualane, and CleanScreen from Amyris Inc. The long-term partnership agreement will allow Amyris to continue manufacturing ingredients for Givaudan's use in cosmetics and provide access to its innovation capabilities.
Competitive Landscape and Key Companies:
Givaudan SA, Firmenich International SA, Takasago International Corp, BASF SE, Evolva Holding SA, Amyris Inc, Insempra GmbH, Conagen Inc, Jeneil Biotech Inc, and Dohler GmbH are among the prominent players profiled in the global fermented flavor and fragrance ingredients market report. These market players adopt strategic development initiatives to expand their business across the globe.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Type, Application, and Geography
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
Frequently Asked Questions
The fruity segment held a dominating share of the fermented flavor and fragrance ingredients market in 2022 owing to rising demand for fruity flavors and fragrances such as citrus, berry, and exotic fruits including mango and pineapple due to their refreshing sweet aroma and taste.
Based on application, the cosmetics segment is expected to register the fastest growth rate due to rising demand for natural, non-toxic, and chemical-free cosmetics.
Europe held the largest fermented flavor and fragrance ingredients market share due to rising awareness regarding sustainability and increasing preference for natural and non-toxic ingredients.
The major players operating in the global fermented flavor and fragrance ingredients market are Jeneil Biotech Inc, Dohler GmbH, Takasago International Corp, Givaudan SA, BASF SE, Firmenich International SA, Amyris Inc, Insempra GmbH, Conagen Inc, and Evolva Holding SA.
Rising technological advancements that help the scaling-up of production of flavor and fragrances through fermentation is expected to provide lucrative opportunities in the market over the coming years.
Rising sustainability concerns and key initiatives adopted by the key manufacturers of fermented flavor and fragrance ingredients are the major growth driving factors.
1. Introduction
1.1 The Insight Partners Research Report Guidance
1.2 Market Segmentation
2. Executive Summary
2.1 Key Market Insights
2.2 Market Attractiveness
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Fermented Flavor and Fragrance Ingredients Market Landscape
4.1 Overview
4.2 Porter's Five Forces Analysis
4.2.1 Bargaining Power of Suppliers
4.2.2 Bargaining Power of Buyers
4.2.3 Threat of New Entrants
4.2.4 Competitive Rivalry
4.2.5 Threat of Substitutes
4.3 Ecosystem Analysis
4.3.1 Raw Material Suppliers
4.3.2 Manufacturing Process
4.3.3 Distributors or Suppliers
4.3.4 End-Use Industries
4.3.5 List of Vendors in the Value Chain
5. Fermented Flavor and Fragrance Ingredients Market – Key Market Dynamics
5.1 Fermented Flavor and Fragrance Ingredients Market – Key Market Dynamics
5.2 Market Drivers
5.2.1 Rising Sustainability Concerns
5.2.2 Strategic Development Initiatives by Key Market Players
5.3 Market Restraints
5.3.1 High Product Costs
5.4 Market Opportunities
5.4.1 Technological Advancements
5.5 Future Trends
5.5.1 Surging Demand for “Clean Label” and “Non-GMO” Products
5.6 Impact of Drivers and Restraints:
6. Fermented Flavor and Fragrance Ingredients Market – Global Market Analysis
6.1 Fermented Flavor and Fragrance Ingredients Market Revenue (US$ Million), 2020–2030
6.2 Fermented Flavor and Fragrance Ingredients Market Forecast Analysis
7. Fermented Flavor and Fragrance Ingredients Market Analysis – by Type
7.1 Fruity
7.1.1 Overview
7.1.2 Fruity: Fermented Flavor and Fragrance Ingredients Market – Revenue and Forecast to 2030 (US$ Million)
7.2 Floral
7.2.1 Overview
7.2.2 Floral: Fermented Flavor and Fragrance Ingredients Market – Revenue and Forecast to 2030 (US$ Million)
7.3 Woody
7.3.1 Overview
7.3.2 Woody: Fermented Flavor and Fragrance Ingredients Market – Revenue and Forecast to 2030 (US$ Million)
7.4 Blends
7.4.1 Overview
7.4.2 Blends: Fermented Flavor and Fragrance Ingredients Market – Revenue and Forecast to 2030 (US$ Million)
7.5 Others
7.5.1 Overview
7.5.2 Others: Fermented Flavor and Fragrance Ingredients Market – Revenue and Forecast to 2030 (US$ Million)
8. Fermented Flavor and Fragrance Ingredients Market Analysis – by Application
8.1 Food and Beverages
8.1.1 Overview
8.1.2 Food and Beverages: Fermented Flavor and Fragrance Ingredients Market – Revenue and Forecast to 2030 (US$ Million)
8.2 Personal Care Products
8.2.1 Overview
8.2.2 Personal Care Products: Fermented Flavor and Fragrance Ingredients Market – Revenue and Forecast to 2030 (US$ Million)
8.3 Cosmetics
8.3.1 Overview
8.3.2 Cosmetics: Fermented Flavor and Fragrance Ingredients Market – Revenue and Forecast to 2030 (US$ Million)
8.4 Others
8.4.1 Overview
8.4.2 Others: Fermented Flavor and Fragrance Ingredients Market – Revenue and Forecast to 2030 (US$ Million)
9. Fermented Flavor and Fragrance Ingredients Market – Geographical Analysis
9.1 Overview
9.2 North America
9.2.1 North America Fermented Flavor and Fragrance Ingredients Market Overview
9.2.2 North America: Fermented Flavor and Fragrance Ingredients Market – Revenue and Forecast to 2030 (US$ Million)
9.2.3 North America: Fermented Flavor and Fragrance Ingredients Market Breakdown, by Type
9.2.3.1 North America: Fermented Flavor and Fragrance Ingredients Market – Revenue and Forecast Analysis – by Type
9.2.4 North America: Fermented Flavor and Fragrance Ingredients Market Breakdown, by Application
9.2.4.1 North America: Fermented Flavor and Fragrance Ingredients Market – Revenue and Forecast Analysis – by Application
9.2.5 North America: Fermented Flavor and Fragrance Ingredients Market – Revenue and Forecast Analysis – by Country
9.2.5.1 North America: Fermented Flavor and Fragrance Ingredients Market – Revenue and Forecast Analysis – by Country
9.2.5.2 US: Fermented Flavor and Fragrance Ingredients Market – Revenue and Forecast to 2030 (US$ Million)
9.2.5.2.1 US: Fermented Flavor and Fragrance Ingredients Market Breakdown, by Type
9.2.5.2.2 US: Fermented Flavor and Fragrance Ingredients Market Breakdown, by Application
9.2.5.3 Canada: Fermented Flavor and Fragrance Ingredients Market – Revenue and Forecast to 2030 (US$ Million)
9.2.5.3.1 Canada: Fermented Flavor and Fragrance Ingredients Market Breakdown, by Type
9.2.5.3.2 Canada: Fermented Flavor and Fragrance Ingredients Market Breakdown, by Application
9.2.5.4 Mexico: Fermented Flavor and Fragrance Ingredients Market – Revenue and Forecast to 2030 (US$ Million)
9.2.5.4.1 Mexico: Fermented Flavor and Fragrance Ingredients Market Breakdown, by Type
9.2.5.4.2 Mexico: Fermented Flavor and Fragrance Ingredients Market Breakdown, by Application
9.3 Europe
9.3.1 Europe Fermented Flavor and Fragrance Ingredients Market Overview
9.3.2 Europe: Fermented Flavor and Fragrance Ingredients Market – Revenue and Forecast to 2030 (US$ Million)
9.3.3 Europe: Fermented Flavor and Fragrance Ingredients Market Breakdown, by Type
9.3.3.1 Europe: Fermented Flavor and Fragrance Ingredients Market – Revenue and Forecast Analysis – by Type
9.3.4 Europe: Fermented Flavor and Fragrance Ingredients Market Breakdown, by Application
9.3.4.1 Europe: Fermented Flavor and Fragrance Ingredients Market – Revenue and Forecast Analysis – by Application
9.3.5 Europe: Fermented Flavor and Fragrance Ingredients Market – Revenue and Forecast Analysis – by Country
9.3.5.1 Europe: Fermented Flavor and Fragrance Ingredients Market – Revenue and Forecast Analysis – by Country
9.3.5.2 Germany: Fermented Flavor and Fragrance Ingredients Market – Revenue and Forecast to 2030 (US$ Million)
9.3.5.2.1 Germany: Fermented Flavor and Fragrance Ingredients Market Breakdown, by Type
9.3.5.2.2 Germany: Fermented Flavor and Fragrance Ingredients Market Breakdown, by Application
9.3.5.3 France: Fermented Flavor and Fragrance Ingredients Market – Revenue and Forecast to 2030 (US$ Million)
9.3.5.3.1 France: Fermented Flavor and Fragrance Ingredients Market Breakdown, by Type
9.3.5.3.2 France: Fermented Flavor and Fragrance Ingredients Market Breakdown, by Application
9.3.5.4 Italy: Fermented Flavor and Fragrance Ingredients Market – Revenue and Forecast to 2030 (US$ Million)
9.3.5.4.1 Italy: Fermented Flavor and Fragrance Ingredients Market Breakdown, by Type
9.3.5.4.2 Italy: Fermented Flavor and Fragrance Ingredients Market Breakdown, by Application
9.3.5.5 UK: Fermented Flavor and Fragrance Ingredients Market – Revenue and Forecast to 2030 (US$ Million)
9.3.5.5.1 UK: Fermented Flavor and Fragrance Ingredients Market Breakdown, by Type
9.3.5.5.2 UK: Fermented Flavor and Fragrance Ingredients Market Breakdown, by Application
9.3.5.6 Spain: Fermented Flavor and Fragrance Ingredients Market – Revenue and Forecast to 2030 (US$ Million)
9.3.5.6.1 Spain: Fermented Flavor and Fragrance Ingredients Market Breakdown, by Type
9.3.5.6.2 Spain: Fermented Flavor and Fragrance Ingredients Market Breakdown, by Application
9.3.5.7 Rest of Europe: Fermented Flavor and Fragrance Ingredients Market – Revenue and Forecast to 2030 (US$ Million)
9.3.5.7.1 Rest of Europe: Fermented Flavor and Fragrance Ingredients Market Breakdown, by Type
9.3.5.7.2 Rest of Europe: Fermented Flavor and Fragrance Ingredients Market Breakdown, by Application
9.4 Asia Pacific
9.4.1 Asia Pacific Fermented Flavor and Fragrance Ingredients Market Overview
9.4.2 Asia Pacific: Fermented Flavor and Fragrance Ingredients Market – Revenue and Forecast to 2030 (US$ Million)
9.4.3 Asia Pacific: Fermented Flavor and Fragrance Ingredients Market Breakdown, by Type
9.4.3.1 Asia Pacific: Fermented Flavor and Fragrance Ingredients Market – Revenue and Forecast Analysis – by Type
9.4.4 Asia Pacific: Fermented Flavor and Fragrance Ingredients Market Breakdown, by Application
9.4.4.1 Asia Pacific: Fermented Flavor and Fragrance Ingredients Market – Revenue and Forecast Analysis – by Application
9.4.5 Asia Pacific: Fermented Flavor and Fragrance Ingredients Market – Revenue and Forecast Analysis – by Country
9.4.5.1 Asia Pacific: Fermented Flavor and Fragrance Ingredients Market – Revenue and Forecast Analysis – by Country
9.4.5.2 China: Fermented Flavor and Fragrance Ingredients Market – Revenue and Forecast to 2030 (US$ Million)
9.4.5.2.1 China: Fermented Flavor and Fragrance Ingredients Market Breakdown, by Type
9.4.5.2.2 China: Fermented Flavor and Fragrance Ingredients Market Breakdown, by Application
9.4.5.3 Japan: Fermented Flavor and Fragrance Ingredients Market – Revenue and Forecast to 2030 (US$ Million)
9.4.5.3.1 Japan: Fermented Flavor and Fragrance Ingredients Market Breakdown, by Type
9.4.5.3.2 Japan: Fermented Flavor and Fragrance Ingredients Market Breakdown, by Application
9.4.5.4 India: Fermented Flavor and Fragrance Ingredients Market – Revenue and Forecast to 2030 (US$ Million)
9.4.5.4.1 India: Fermented Flavor and Fragrance Ingredients Market Breakdown, by Type
9.4.5.4.2 India: Fermented Flavor and Fragrance Ingredients Market Breakdown, by Application
9.4.5.5 Australia: Fermented Flavor and Fragrance Ingredients Market – Revenue and Forecast to 2030 (US$ Million)
9.4.5.5.1 Australia: Fermented Flavor and Fragrance Ingredients Market Breakdown, by Type
9.4.5.5.2 Australia: Fermented Flavor and Fragrance Ingredients Market Breakdown, by Application
9.4.5.6 South Korea: Fermented Flavor and Fragrance Ingredients Market – Revenue and Forecast to 2030 (US$ Million)
9.4.5.6.1 South Korea: Fermented Flavor and Fragrance Ingredients Market Breakdown, by Type
9.4.5.6.2 South Korea: Fermented Flavor and Fragrance Ingredients Market Breakdown, by Application
9.4.5.7 Rest of Asia Pacific: Fermented Flavor and Fragrance Ingredients Market – Revenue and Forecast to 2030 (US$ Million)
9.4.5.7.1 Rest of Asia Pacific: Fermented Flavor and Fragrance Ingredients Market Breakdown, by Type
9.4.5.7.2 Rest of Asia Pacific: Fermented Flavor and Fragrance Ingredients Market Breakdown, by Application
9.5 Middle East and Africa
9.5.1 Middle East and Africa Fermented Flavor and Fragrance Ingredients Market Overview
9.5.2 Middle East and Africa: Fermented Flavor and Fragrance Ingredients Market – Revenue and Forecast to 2030 (US$ Million)
9.5.3 Middle East and Africa: Fermented Flavor and Fragrance Ingredients Market Breakdown, by Type
9.5.3.1 Middle East and Africa: Fermented Flavor and Fragrance Ingredients Market – Revenue and Forecast Analysis – by Type
9.5.4 Middle East and Africa: Fermented Flavor and Fragrance Ingredients Market Breakdown, by Application
9.5.4.1 Middle East and Africa: Fermented Flavor and Fragrance Ingredients Market – Revenue and Forecast Analysis – by Application
9.5.5 Middle East and Africa: Fermented Flavor and Fragrance Ingredients Market – Revenue and Forecast Analysis – by Country
9.5.5.1 Middle East and Africa: Fermented Flavor and Fragrance Ingredients Market – Revenue and Forecast Analysis – by Country
9.5.5.2 South Africa: Fermented Flavor and Fragrance Ingredients Market – Revenue and Forecast to 2030 (US$ Million)
9.5.5.2.1 South Africa: Fermented Flavor and Fragrance Ingredients Market Breakdown, by Type
9.5.5.2.2 South Africa: Fermented Flavor and Fragrance Ingredients Market Breakdown, by Application
9.5.5.3 Saudi Arabia: Fermented Flavor and Fragrance Ingredients Market – Revenue and Forecast to 2030 (US$ Million)
9.5.5.3.1 Saudi Arabia: Fermented Flavor and Fragrance Ingredients Market Breakdown, by Type
9.5.5.3.2 Saudi Arabia: Fermented Flavor and Fragrance Ingredients Market Breakdown, by Application
9.5.5.4 UAE: Fermented Flavor and Fragrance Ingredients Market – Revenue and Forecast to 2030 (US$ Million)
9.5.5.4.1 UAE: Fermented Flavor and Fragrance Ingredients Market Breakdown, by Type
9.5.5.4.2 UAE: Fermented Flavor and Fragrance Ingredients Market Breakdown, by Application
9.5.5.5 Rest of Middle East and Africa: Fermented Flavor and Fragrance Ingredients Market – Revenue and Forecast to 2030 (US$ Million)
9.5.5.5.1 Rest of Middle East and Africa: Fermented Flavor and Fragrance Ingredients Market Breakdown, by Type
9.5.5.5.2 Rest of Middle East and Africa: Fermented Flavor and Fragrance Ingredients Market Breakdown, by Application
9.6 South and Central America
9.6.1 South and Central America Fermented Flavor and Fragrance Ingredients Market Overview
9.6.2 South and Central America: Fermented Flavor and Fragrance Ingredients Market – Revenue and Forecast to 2030 (US$ Million)
9.6.3 South and Central America: Fermented Flavor and Fragrance Ingredients Market Breakdown, by Type
9.6.3.1 South and Central America: Fermented Flavor and Fragrance Ingredients Market – Revenue and Forecast Analysis – by Type
9.6.4 South and Central America: Fermented Flavor and Fragrance Ingredients Market Breakdown, by Application
9.6.4.1 South and Central America: Fermented Flavor and Fragrance Ingredients Market – Revenue and Forecast Analysis – by Application
9.6.5 South and Central America: Fermented Flavor and Fragrance Ingredients Market – Revenue and Forecast Analysis – by Country
9.6.5.1 South and Central America: Fermented Flavor and Fragrance Ingredients Market – Revenue and Forecast Analysis – by Country
9.6.5.2 Brazil: Fermented Flavor and Fragrance Ingredients Market – Revenue and Forecast to 2030 (US$ Million)
9.6.5.2.1 Brazil: Fermented Flavor and Fragrance Ingredients Market Breakdown, by Type
9.6.5.2.2 Brazil: Fermented Flavor and Fragrance Ingredients Market Breakdown, by Application
9.6.5.3 Argentina: Fermented Flavor and Fragrance Ingredients Market – Revenue and Forecast to 2030 (US$ Million)
9.6.5.3.1 Argentina: Fermented Flavor and Fragrance Ingredients Market Breakdown, by Type
9.6.5.3.2 Argentina: Fermented Flavor and Fragrance Ingredients Market Breakdown, by Application
9.6.5.4 Rest of South and Central America: Fermented Flavor and Fragrance Ingredients Market – Revenue and Forecast to 2030 (US$ Million)
9.6.5.4.1 Rest of South and Central America: Fermented Flavor and Fragrance Ingredients Market Breakdown, by Type
9.6.5.4.2 Rest of South and Central America: Fermented Flavor and Fragrance Ingredients Market Breakdown, by Application
10. Fermented Flavor and Fragrance Ingredients Market – Impact of COVID-19 Pandemic
10.1 Pre & Post COVID-19 Impact
11. Competitive Landscape
11.1 Heat Map Analysis
11.2 Company Positioning & Concentration
12. Company Profiles
12.1 Jeneil Biotech Inc
12.1.1 Key Facts
12.1.2 Business Description
12.1.3 Products and Services
12.1.4 Financial Overview
12.1.5 SWOT Analysis
12.1.6 Key Developments
12.2 Dohler GmbH
12.2.1 Key Facts
12.2.2 Business Description
12.2.3 Products and Services
12.2.4 Financial Overview
12.2.5 SWOT Analysis
12.2.6 Key Developments
12.3 Takasago International Corp
12.3.1 Key Facts
12.3.2 Business Description
12.3.3 Products and Services
12.3.4 Financial Overview
12.3.5 SWOT Analysis
12.3.6 Key Developments
12.4 Givaudan SA
12.4.1 Key Facts
12.4.2 Business Description
12.4.3 Products and Services
12.4.4 Financial Overview
12.4.5 SWOT Analysis
12.4.6 Key Developments
12.5 BASF SE
12.5.1 Key Facts
12.5.2 Business Description
12.5.3 Products and Services
12.5.4 Financial Overview
12.5.5 SWOT Analysis
12.5.6 Key Developments
12.6 Firmenich International SA
12.6.1 Key Facts
12.6.2 Business Description
12.6.3 Products and Services
12.6.4 Financial Overview
12.6.5 SWOT Analysis
12.6.6 Key Developments
12.7 Amyris Inc
12.7.1 Key Facts
12.7.2 Business Description
12.7.3 Products and Services
12.7.4 Financial Overview
12.7.5 SWOT Analysis
12.7.6 Key Developments
12.8 Insempra GmbH
12.8.1 Key Facts
12.8.2 Business Description
12.8.3 Products and Services
12.8.4 Financial Overview
12.8.5 SWOT Analysis
12.8.6 Key Developments
12.9 Conagen Inc
12.9.1 Key Facts
12.9.2 Business Description
12.9.3 Products and Services
12.9.4 Financial Overview
12.9.5 SWOT Analysis
12.9.6 Key Developments
12.10 Evolva Holding SA
12.10.1 Key Facts
12.10.2 Business Description
12.10.3 Products and Services
12.10.4 Financial Overview
12.10.5 SWOT Analysis
12.10.6 Key Developments
13. Appendix
13.1 About The Insight Partners
List of Tables
Table 1. Fermented Flavor and Fragrance Ingredients Market Segmentation
Table 2. List of Vendors
Table 3. Fermented Flavor and Fragrance Ingredients Market – Revenue and Forecast to 2030 (US$ Million)
Table 4. Fermented Flavor and Fragrance Ingredients Market – Revenue and Forecast to 2030 (US$ Million) – by Type
Table 5. Fermented Flavor and Fragrance Ingredients Market – Revenue and Forecast to 2030 (US$ Million) – by Application
Table 6. North America: Fermented Flavor and Fragrance Ingredients Market – Revenue and Forecast to 2030(US$ Million) – by Type
Table 7. North America: Fermented Flavor and Fragrance Ingredients Market – Revenue and Forecast to 2030(US$ Million) – by Application
Table 8. North America: Fermented Flavor and Fragrance Ingredients Market – Revenue and Forecast to 2030(US$ Million) – by Country
Table 9. US: Fermented Flavor and Fragrance Ingredients Market – Revenue and Forecast to 2030(US$ Million) – by Type
Table 10. US: Fermented Flavor and Fragrance Ingredients Market – Revenue and Forecast to 2030(US$ Million) – by Application
Table 11. Canada: Fermented Flavor and Fragrance Ingredients Market – Revenue and Forecast to 2030(US$ Million) – by Type
Table 12. Canada: Fermented Flavor and Fragrance Ingredients Market – Revenue and Forecast to 2030(US$ Million) – by Application
Table 13. Mexico: Fermented Flavor and Fragrance Ingredients Market – Revenue and Forecast to 2030(US$ Million) – by Type
Table 14. Mexico: Fermented Flavor and Fragrance Ingredients Market – Revenue and Forecast to 2030(US$ Million) – by Application
Table 15. Europe: Fermented Flavor and Fragrance Ingredients Market – Revenue and Forecast to 2030(US$ Million) – by Type
Table 16. Europe: Fermented Flavor and Fragrance Ingredients Market – Revenue and Forecast to 2030(US$ Million) – by Application
Table 17. Europe: Fermented Flavor and Fragrance Ingredients Market – Revenue and Forecast to 2030(US$ Million) – by Country
Table 18. Germany: Fermented Flavor and Fragrance Ingredients Market – Revenue and Forecast to 2030(US$ Million) – by Type
Table 19. Germany: Fermented Flavor and Fragrance Ingredients Market – Revenue and Forecast to 2030(US$ Million) – by Application
Table 20. France: Fermented Flavor and Fragrance Ingredients Market – Revenue and Forecast to 2030(US$ Million) – by Type
Table 21. France: Fermented Flavor and Fragrance Ingredients Market – Revenue and Forecast to 2030(US$ Million) – by Application
Table 22. Italy: Fermented Flavor and Fragrance Ingredients Market – Revenue and Forecast to 2030(US$ Million) – by Type
Table 23. Italy: Fermented Flavor and Fragrance Ingredients Market – Revenue and Forecast to 2030(US$ Million) – by Application
Table 24. UK: Fermented Flavor and Fragrance Ingredients Market – Revenue and Forecast to 2030(US$ Million) – by Type
Table 25. UK: Fermented Flavor and Fragrance Ingredients Market – Revenue and Forecast to 2030(US$ Million) – by Application
Table 26. Spain: Fermented Flavor and Fragrance Ingredients Market – Revenue and Forecast to 2030(US$ Million) – by Type
Table 27. Spain: Fermented Flavor and Fragrance Ingredients Market – Revenue and Forecast to 2030(US$ Million) – by Application
Table 28. Rest of Europe: Fermented Flavor and Fragrance Ingredients Market – Revenue and Forecast to 2030(US$ Million) – by Type
Table 29. Rest of Europe: Fermented Flavor and Fragrance Ingredients Market – Revenue and Forecast to 2030(US$ Million) – by Application
Table 30. Asia Pacific: Fermented Flavor and Fragrance Ingredients Market – Revenue and Forecast to 2030(US$ Million) – by Type
Table 31. Asia Pacific: Fermented Flavor and Fragrance Ingredients Market – Revenue and Forecast to 2030(US$ Million) – by Application
Table 32. Asia Pacific: Fermented Flavor and Fragrance Ingredients Market – Revenue and Forecast to 2030(US$ Million) – by Country
Table 33. China: Fermented Flavor and Fragrance Ingredients Market – Revenue and Forecast to 2030(US$ Million) – by Type
Table 34. China: Fermented Flavor and Fragrance Ingredients Market – Revenue and Forecast to 2030(US$ Million) – by Application
Table 35. Japan: Fermented Flavor and Fragrance Ingredients Market – Revenue and Forecast to 2030(US$ Million) – by Type
Table 36. Japan: Fermented Flavor and Fragrance Ingredients Market – Revenue and Forecast to 2030(US$ Million) – by Application
Table 37. India: Fermented Flavor and Fragrance Ingredients Market – Revenue and Forecast to 2030(US$ Million) – by Type
Table 38. India: Fermented Flavor and Fragrance Ingredients Market – Revenue and Forecast to 2030(US$ Million) – by Application
Table 39. Australia: Fermented Flavor and Fragrance Ingredients Market – Revenue and Forecast to 2030(US$ Million) – by Type
Table 40. Australia: Fermented Flavor and Fragrance Ingredients Market – Revenue and Forecast to 2030(US$ Million) – by Application
Table 41. South Korea: Fermented Flavor and Fragrance Ingredients Market – Revenue and Forecast to 2030(US$ Million) – by Type
Table 42. South Korea: Fermented Flavor and Fragrance Ingredients Market – Revenue and Forecast to 2030(US$ Million) – by Application
Table 43. Rest of Asia Pacific: Fermented Flavor and Fragrance Ingredients Market – Revenue and Forecast to 2030(US$ Million) – by Type
Table 44. Rest of Asia Pacific: Fermented Flavor and Fragrance Ingredients Market – Revenue and Forecast to 2030(US$ Million) – by Application
Table 45. Middle East and Africa: Fermented Flavor and Fragrance Ingredients Market – Revenue and Forecast to 2030(US$ Million) – by Type
Table 46. Middle East and Africa: Fermented Flavor and Fragrance Ingredients Market – Revenue and Forecast to 2030(US$ Million) – by Application
Table 47. Middle East and Africa: Fermented Flavor and Fragrance Ingredients Market – Revenue and Forecast to 2030(US$ Million) – by Country
Table 48. South Africa: Fermented Flavor and Fragrance Ingredients Market – Revenue and Forecast to 2030(US$ Million) – by Type
Table 49. South Africa: Fermented Flavor and Fragrance Ingredients Market – Revenue and Forecast to 2030(US$ Million) – by Application
Table 50. Saudi Arabia: Fermented Flavor and Fragrance Ingredients Market – Revenue and Forecast to 2030(US$ Million) – by Type
Table 51. Saudi Arabia: Fermented Flavor and Fragrance Ingredients Market – Revenue and Forecast to 2030(US$ Million) – by Application
Table 52. UAE: Fermented Flavor and Fragrance Ingredients Market – Revenue and Forecast to 2030(US$ Million) – by Type
Table 53. UAE: Fermented Flavor and Fragrance Ingredients Market – Revenue and Forecast to 2030(US$ Million) – by Application
Table 54. Rest of Middle East and Africa: Fermented Flavor and Fragrance Ingredients Market – Revenue and Forecast to 2030(US$ Million) – by Type
Table 55. Rest of Middle East and Africa: Fermented Flavor and Fragrance Ingredients Market – Revenue and Forecast to 2030(US$ Million) – by Application
Table 56. South and Central America: Fermented Flavor and Fragrance Ingredients Market – Revenue and Forecast to 2030(US$ Million) – by Type
Table 57. South and Central America: Fermented Flavor and Fragrance Ingredients Market – Revenue and Forecast to 2030(US$ Million) – by Application
Table 58. South and Central America: Fermented Flavor and Fragrance Ingredients Market – Revenue and Forecast to 2030(US$ Million) – by Country
Table 59. Brazil: Fermented Flavor and Fragrance Ingredients Market – Revenue and Forecast to 2030(US$ Million) – by Type
Table 60. Brazil: Fermented Flavor and Fragrance Ingredients Market – Revenue and Forecast to 2030(US$ Million) – by Application
Table 61. Argentina: Fermented Flavor and Fragrance Ingredients Market – Revenue and Forecast to 2030(US$ Million) – by Type
Table 62. Argentina: Fermented Flavor and Fragrance Ingredients Market – Revenue and Forecast to 2030(US$ Million) – by Application
Table 63. Rest of South and Central America: Fermented Flavor and Fragrance Ingredients Market – Revenue and Forecast to 2030(US$ Million) – by Type
Table 64. Rest of South and Central America: Fermented Flavor and Fragrance Ingredients Market – Revenue and Forecast to 2030(US$ Million) – by Application
Table 65. Heat Map Analysis
List of Figures
Figure 1. Fermented Flavor and Fragrance Ingredients Market Segmentation, by Geography
Figure 2. Porter's Five Forces Analysis: Fermented Ingredients for Flavors and Fragrances Market
Figure 3. Ecosystem: Fermented Flavor and Fragrance Ingredients Market
Figure 4. Impact Analysis of Drivers and Restraints
Figure 5. Fermented Flavor and Fragrance Ingredients Market Revenue (US$ Million), 2020–2030
Figure 6. Fermented Flavor and Fragrance Ingredients Market Share (%) – by Type (2022 and 2030)
Figure 7. Fruity: Fermented Flavor and Fragrance Ingredients Market – Revenue and Forecast to 2030 (US$ Million)
Figure 8. Floral: Fermented Flavor and Fragrance Ingredients Market – Revenue and Forecast to 2030 (US$ Million)
Figure 9. Woody: Fermented Flavor and Fragrance Ingredients Market – Revenue and Forecast to 2030 (US$ Million)
Figure 10. Blends: Fermented Flavor and Fragrance Ingredients Market – Revenue and Forecast to 2030 (US$ Million)
Figure 11. Others: Fermented Flavor and Fragrance Ingredients Market – Revenue and Forecast to 2030 (US$ Million)
Figure 12. Fermented Flavor and Fragrance Ingredients Market Share (%) – by Application (2022 and 2030)
Figure 13. Food and Beverages: Fermented Flavor and Fragrance Ingredients Market – Revenue and Forecast to 2030 (US$ Million)
Figure 14. Personal Care Products: Fermented Flavor and Fragrance Ingredients Market – Revenue and Forecast to 2030 (US$ Million)
Figure 15. Cosmetics: Fermented Flavor and Fragrance Ingredients Market – Revenue and Forecast to 2030 (US$ Million)
Figure 16. Others: Fermented Flavor and Fragrance Ingredients Market – Revenue and Forecast to 2030 (US$ Million)
Figure 17. Fermented Flavor and Fragrance Ingredients Market by Region, 2022 and 2030, CAGR (%)
Figure 18. North America: Fermented Flavor and Fragrance Ingredients Market – Revenue and Forecast to 2030(US$ Million)
Figure 19. North America: Fermented Flavor and Fragrance Ingredients Market Breakdown, by Type (2022 and 2030)
Figure 20. North America: Fermented Flavor and Fragrance Ingredients Market Breakdown, by Application (2022 and 2030)
Figure 21. North America: Fermented Flavor and Fragrance Ingredients Market Breakdown, by Key Countries, 2022 and 2030 (%)
Figure 22. US: Fermented Flavor and Fragrance Ingredients Market – Revenue and Forecast to 2030(US$ Million)
Figure 23. Canada: Fermented Flavor and Fragrance Ingredients Market – Revenue and Forecast to 2030(US$ Million)
Figure 24. Mexico: Fermented Flavor and Fragrance Ingredients Market – Revenue and Forecast to 2030(US$ Million)
Figure 25. Europe: Fermented Flavor and Fragrance Ingredients Market – Revenue and Forecast to 2030(US$ Million)
Figure 26. Europe: Fermented Flavor and Fragrance Ingredients Market Breakdown, by Type (2022 and 2030)
Figure 27. Europe: Fermented Flavor and Fragrance Ingredients Market Breakdown, by Application (2022 and 2030)
Figure 28. Europe: Fermented Flavor and Fragrance Ingredients Market Breakdown, by Key Countries, 2022 and 2030 (%)
Figure 29. Germany: Fermented Flavor and Fragrance Ingredients Market – Revenue and Forecast to 2030(US$ Million)
Figure 30. France: Fermented Flavor and Fragrance Ingredients Market – Revenue and Forecast to 2030(US$ Million)
Figure 31. Italy: Fermented Flavor and Fragrance Ingredients Market – Revenue and Forecast to 2030(US$ Million)
Figure 32. UK: Fermented Flavor and Fragrance Ingredients Market – Revenue and Forecast to 2030(US$ Million)
Figure 33. Spain: Fermented Flavor and Fragrance Ingredients Market – Revenue and Forecast to 2030(US$ Million)
Figure 34. Rest of Europe: Fermented Flavor and Fragrance Ingredients Market – Revenue and Forecast to 2030(US$ Million)
Figure 35. Asia Pacific: Fermented Flavor and Fragrance Ingredients Market – Revenue and Forecast to 2030(US$ Million)
Figure 36. Asia Pacific: Fermented Flavor and Fragrance Ingredients Market Breakdown, by Type (2022 and 2030)
Figure 37. Asia Pacific: Fermented Flavor and Fragrance Ingredients Market Breakdown, by Application (2022 and 2030)
Figure 38. Asia Pacific: Fermented Flavor and Fragrance Ingredients Market Breakdown, by Key Countries, 2022 and 2030 (%)
Figure 39. China: Fermented Flavor and Fragrance Ingredients Market – Revenue and Forecast to 2030(US$ Million)
Figure 40. Japan: Fermented Flavor and Fragrance Ingredients Market – Revenue and Forecast to 2030(US$ Million)
Figure 41. India: Fermented Flavor and Fragrance Ingredients Market – Revenue and Forecast to 2030(US$ Million)
Figure 42. Australia: Fermented Flavor and Fragrance Ingredients Market – Revenue and Forecast to 2030(US$ Million)
Figure 43. South Korea: Fermented Flavor and Fragrance Ingredients Market – Revenue and Forecast to 2030(US$ Million)
Figure 44. Rest of Asia Pacific: Fermented Flavor and Fragrance Ingredients Market – Revenue and Forecast to 2030(US$ Million)
Figure 45. Middle East and Africa: Fermented Flavor and Fragrance Ingredients Market – Revenue and Forecast to 2030(US$ Million)
Figure 46. Middle East and Africa: Fermented Flavor and Fragrance Ingredients Market Breakdown, by Type (2022 and 2030)
Figure 47. Middle East and Africa: Fermented Flavor and Fragrance Ingredients Market Breakdown, by Application (2022 and 2030)
Figure 48. Middle East and Africa: Fermented Flavor and Fragrance Ingredients Market Breakdown, by Key Countries, 2022 and 2030 (%)
Figure 49. South Africa: Fermented Flavor and Fragrance Ingredients Market – Revenue and Forecast to 2030(US$ Million)
Figure 50. Saudi Arabia: Fermented Flavor and Fragrance Ingredients Market – Revenue and Forecast to 2030(US$ Million)
Figure 51. UAE: Fermented Flavor and Fragrance Ingredients Market – Revenue and Forecast to 2030(US$ Million)
Figure 52. Rest of Middle East and Africa: Fermented Flavor and Fragrance Ingredients Market – Revenue and Forecast to 2030(US$ Million)
Figure 53. South and Central America: Fermented Flavor and Fragrance Ingredients Market – Revenue and Forecast to 2030(US$ Million)
Figure 54. South and Central America: Fermented Flavor and Fragrance Ingredients Market Breakdown, by Type (2022 and 2030)
Figure 55. South and Central America: Fermented Flavor and Fragrance Ingredients Market Breakdown, by Application (2022 and 2030)
Figure 56. South and Central America: Fermented Flavor and Fragrance Ingredients Market Breakdown, by Key Countries, 2022 and 2030 (%)
Figure 57. Brazil: Fermented Flavor and Fragrance Ingredients Market – Revenue and Forecast to 2030(US$ Million)
Figure 58. Argentina: Fermented Flavor and Fragrance Ingredients Market – Revenue and Forecast to 2030(US$ Million)
Figure 59. Rest of South and Central America: Fermented Flavor and Fragrance Ingredients Market – Revenue and Forecast to 2030(US$ Million)
Figure 60. Company Positioning & Concentration
The List of Companies - Fermented Flavor and Fragrance Ingredients Market
- Jeneil Biotech Inc
- Dohler GmbH
- Takasago International Corp
- Givaudan SA
- BASF SE
- Firmenich International SA
- Amyris Inc
- Insempra GmbH
- Conagen Inc
- Evolva Holding SA
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
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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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