Microgreens Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis

Coverage: Microgreens Market covers analysis By Product Type (Broccoli, Spinach, Celery, Cabbage, Peas, Basil, Others); Category (Organic, Conventional); End User (Foodservice, Food Retail) , and Geography (North America, Europe, Asia Pacific, and South and Central America)

Publication Month : Apr 2024

  • Report Code : TIPRE00024909
  • Category : Food and Beverages
  • Status : Upcoming
  • No. of Pages : 150
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MARKET OVERVIEW

Microgreens are vegetable greens harvested just after the cotyledon leaves have developed. They are used as a nutrition supplement, a visual enhancement, and a flavor and texture enhancement. It can add sweetness and spiciness to foods. Microgreens are young vegetable greens that are approximately 1-3 inches (2.5-7.5 cm) tall. They have an aromatic flavor and concentrated nutrient content and come in a variety of colors and textures.

MARKET SCOPE

The "Global Microgreens Market Analysis to 2028" is a specialized and in-depth study of the food and beverage industry with a special focus on the global market trend analysis. The report aims to provide an overview of the microgreens market with detailed market segmentation by product type, category, end user, and geography. The report provides key statistics on the market status of the leading microgreens market players and offers key trends and opportunities in the market.

MARKET SEGMENTATION

  •   Based on product type, the global microgreens market is segmented into broccoli, spinach, celery, cabbage, peas, basil, and others.
  •   Based on category, the global microgreens market is segmented into organic and conventional.
  •   Based on end user, the global microgreens market is segmented into foodservice and food retail.

MARKET DYNAMICS
Drivers:

  •   Increase in spending for premium food products, healthy functional & nutritional food and growth.
  •   Microgreens are majorly served to customers though the restaurants as people are increasingly demanding highly nutritious food.

Restraints:

  •   Sales of microgreens have witnessed significant decrease due to disturbed supply chain and closers of restaurants and grocery stores.

REGIONAL FRAMEWORK

The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The microgreens market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.

The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the microgreens market in these regions.

IMPACT OF COVID-19 ON MICROGREENS MARKET

COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The food and beverages industry is one of the major industries suffering serious disruptions, such as supply chain breaks, technology events cancellations, and office shutdowns, as a result of this pandemic. The shutdown of various plants and factories in leading regions such as North America, Europe, Asia Pacific, South America, and the Middle East & Africa has affected the global supply chain and negatively impacted the manufacturing, delivery schedules, and sales of various goods. Furthermore, various companies have already announced possible delays in product deliveries and slump in future sales of their products.

World Geography

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  • Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
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MARKET PLAYERS


The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The microgreens market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.

The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the microgreens market in these regions.

IMPACT OF COVID-19 ON MICROGREENS MARKET

COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The food and beverages industry is one of the major industries suffering serious disruptions, such as supply chain breaks, technology events cancellations, and office shutdowns, as a result of this pandemic. The shutdown of various plants and factories in leading regions such as North America, Europe, Asia Pacific, South America, and the Middle East & Africa has affected the global supply chain and negatively impacted the manufacturing, delivery schedules, and sales of various goods. Furthermore, various companies have already announced possible delays in product deliveries and slump in future sales of their products.

MARKET PLAYERS

The report covers key developments in the microgreens market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market players from microgreens market are anticipated to witness lucrative growth opportunities in the future with the rising demand for microgreens in the global market.

The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the microgreens market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.

  •   Farmbox Greens LLC
  •   2BFresh
  •   The Chef's Garden Inc.
  •   Aerofarms LLC
  •   Fresh Origins
  •   Madar Farms
  •   Living Earth Farms
  •   Good Leaf Farms
  •   Metro Microgreens
  •   Greenbelt Microgreens
The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.
  • Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
  • Request discounts available for Start-Ups & Universities
Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

This text is related
to segments covered.

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

This text is related
to country scope.

TABLE OF CONTENTS

1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Microgreens Market - By Product Type
1.3.2 Microgreens Market - By Category
1.3.3 Microgreens Market - By End User
1.3.4 Microgreens Market - By Region
1.3.4.1 By Country

2. KEY TAKEAWAYS

3. RESEARCH METHODOLOGY

4. MICROGREENS MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PEST ANALYSIS
4.2.1 North America - Pest Analysis
4.2.2 Europe - Pest Analysis
4.2.3 Asia-Pacific - Pest Analysis
4.2.4 Middle East and Africa - Pest Analysis
4.2.5 South and Central America - Pest Analysis
4.3. EXPERT OPINIONS

5. MICROGREENS 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. MICROGREENS MARKET - GLOBAL MARKET ANALYSIS
6.1. MICROGREENS - GLOBAL MARKET OVERVIEW
6.2. MICROGREENS - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING

7. MICROGREENS MARKET - REVENUE AND FORECASTS TO 2028 - PRODUCT TYPE
7.1. OVERVIEW
7.2. PRODUCT TYPE MARKET FORECASTS AND ANALYSIS
7.3. BROCCOLI
7.3.1. Overview
7.3.2. Broccoli Market Forecast and Analysis
7.4. SPINACH
7.4.1. Overview
7.4.2. Spinach Market Forecast and Analysis
7.5. CELERY
7.5.1. Overview
7.5.2. Celery Market Forecast and Analysis
7.6. CABBAGE
7.6.1. Overview
7.6.2. Cabbage Market Forecast and Analysis
7.7. PEAS
7.7.1. Overview
7.7.2. Peas Market Forecast and Analysis
7.8. BASIL
7.8.1. Overview
7.8.2. Basil Market Forecast and Analysis
7.9. OTHERS
7.9.1. Overview
7.9.2. Others Market Forecast and Analysis
8. MICROGREENS MARKET - REVENUE AND FORECASTS TO 2028 - CATEGORY
8.1. OVERVIEW
8.2. CATEGORY MARKET FORECASTS AND ANALYSIS
8.3. ORGANIC
8.3.1. Overview
8.3.2. Organic Market Forecast and Analysis
8.4. CONVENTIONAL
8.4.1. Overview
8.4.2. Conventional Market Forecast and Analysis
9. MICROGREENS MARKET - REVENUE AND FORECASTS TO 2028 - END USER
9.1. OVERVIEW
9.2. END USER MARKET FORECASTS AND ANALYSIS
9.3. FOODSERVICE
9.3.1. Overview
9.3.2. Foodservice Market Forecast and Analysis
9.4. FOOD RETAIL
9.4.1. Overview
9.4.2. Food Retail Market Forecast and Analysis

10. MICROGREENS MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America Microgreens Market Overview
10.1.2 North America Microgreens Market Forecasts and Analysis
10.1.3 North America Microgreens Market Forecasts and Analysis - By Product Type
10.1.4 North America Microgreens Market Forecasts and Analysis - By Category
10.1.5 North America Microgreens Market Forecasts and Analysis - By End User
10.1.6 North America Microgreens Market Forecasts and Analysis - By Countries
10.1.6.1 United States Microgreens Market
10.1.6.1.1 United States Microgreens Market by Product Type
10.1.6.1.2 United States Microgreens Market by Category
10.1.6.1.3 United States Microgreens Market by End User
10.1.6.2 Canada Microgreens Market
10.1.6.2.1 Canada Microgreens Market by Product Type
10.1.6.2.2 Canada Microgreens Market by Category
10.1.6.2.3 Canada Microgreens Market by End User
10.1.6.3 Mexico Microgreens Market
10.1.6.3.1 Mexico Microgreens Market by Product Type
10.1.6.3.2 Mexico Microgreens Market by Category
10.1.6.3.3 Mexico Microgreens Market by End User
10.2. EUROPE
10.2.1 Europe Microgreens Market Overview
10.2.2 Europe Microgreens Market Forecasts and Analysis
10.2.3 Europe Microgreens Market Forecasts and Analysis - By Product Type
10.2.4 Europe Microgreens Market Forecasts and Analysis - By Category
10.2.5 Europe Microgreens Market Forecasts and Analysis - By End User
10.2.6 Europe Microgreens Market Forecasts and Analysis - By Countries
10.2.6.1 Germany Microgreens Market
10.2.6.1.1 Germany Microgreens Market by Product Type
10.2.6.1.2 Germany Microgreens Market by Category
10.2.6.1.3 Germany Microgreens Market by End User
10.2.6.2 France Microgreens Market
10.2.6.2.1 France Microgreens Market by Product Type
10.2.6.2.2 France Microgreens Market by Category
10.2.6.2.3 France Microgreens Market by End User
10.2.6.3 Italy Microgreens Market
10.2.6.3.1 Italy Microgreens Market by Product Type
10.2.6.3.2 Italy Microgreens Market by Category
10.2.6.3.3 Italy Microgreens Market by End User
10.2.6.4 United Kingdom Microgreens Market
10.2.6.4.1 United Kingdom Microgreens Market by Product Type
10.2.6.4.2 United Kingdom Microgreens Market by Category
10.2.6.4.3 United Kingdom Microgreens Market by End User
10.2.6.5 Russia Microgreens Market
10.2.6.5.1 Russia Microgreens Market by Product Type
10.2.6.5.2 Russia Microgreens Market by Category
10.2.6.5.3 Russia Microgreens Market by End User
10.2.6.6 Rest of Europe Microgreens Market
10.2.6.6.1 Rest of Europe Microgreens Market by Product Type
10.2.6.6.2 Rest of Europe Microgreens Market by Category
10.2.6.6.3 Rest of Europe Microgreens Market by End User
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific Microgreens Market Overview
10.3.2 Asia-Pacific Microgreens Market Forecasts and Analysis
10.3.3 Asia-Pacific Microgreens Market Forecasts and Analysis - By Product Type
10.3.4 Asia-Pacific Microgreens Market Forecasts and Analysis - By Category
10.3.5 Asia-Pacific Microgreens Market Forecasts and Analysis - By End User
10.3.6 Asia-Pacific Microgreens Market Forecasts and Analysis - By Countries
10.3.6.1 Australia Microgreens Market
10.3.6.1.1 Australia Microgreens Market by Product Type
10.3.6.1.2 Australia Microgreens Market by Category
10.3.6.1.3 Australia Microgreens Market by End User
10.3.6.2 China Microgreens Market
10.3.6.2.1 China Microgreens Market by Product Type
10.3.6.2.2 China Microgreens Market by Category
10.3.6.2.3 China Microgreens Market by End User
10.3.6.3 India Microgreens Market
10.3.6.3.1 India Microgreens Market by Product Type
10.3.6.3.2 India Microgreens Market by Category
10.3.6.3.3 India Microgreens Market by End User
10.3.6.4 Japan Microgreens Market
10.3.6.4.1 Japan Microgreens Market by Product Type
10.3.6.4.2 Japan Microgreens Market by Category
10.3.6.4.3 Japan Microgreens Market by End User
10.3.6.5 South Korea Microgreens Market
10.3.6.5.1 South Korea Microgreens Market by Product Type
10.3.6.5.2 South Korea Microgreens Market by Category
10.3.6.5.3 South Korea Microgreens Market by End User
10.3.6.6 Rest of Asia-Pacific Microgreens Market
10.3.6.6.1 Rest of Asia-Pacific Microgreens Market by Product Type
10.3.6.6.2 Rest of Asia-Pacific Microgreens Market by Category
10.3.6.6.3 Rest of Asia-Pacific Microgreens Market by End User
10.4. MIDDLE EAST AND AFRICA
10.4.1 Middle East and Africa Microgreens Market Overview
10.4.2 Middle East and Africa Microgreens Market Forecasts and Analysis
10.4.3 Middle East and Africa Microgreens Market Forecasts and Analysis - By Product Type
10.4.4 Middle East and Africa Microgreens Market Forecasts and Analysis - By Category
10.4.5 Middle East and Africa Microgreens Market Forecasts and Analysis - By End User
10.4.6 Middle East and Africa Microgreens Market Forecasts and Analysis - By Countries
10.4.6.1 South Africa Microgreens Market
10.4.6.1.1 South Africa Microgreens Market by Product Type
10.4.6.1.2 South Africa Microgreens Market by Category
10.4.6.1.3 South Africa Microgreens Market by End User
10.4.6.2 Saudi Arabia Microgreens Market
10.4.6.2.1 Saudi Arabia Microgreens Market by Product Type
10.4.6.2.2 Saudi Arabia Microgreens Market by Category
10.4.6.2.3 Saudi Arabia Microgreens Market by End User
10.4.6.3 U.A.E Microgreens Market
10.4.6.3.1 U.A.E Microgreens Market by Product Type
10.4.6.3.2 U.A.E Microgreens Market by Category
10.4.6.3.3 U.A.E Microgreens Market by End User
10.4.6.4 Rest of Middle East and Africa Microgreens Market
10.4.6.4.1 Rest of Middle East and Africa Microgreens Market by Product Type
10.4.6.4.2 Rest of Middle East and Africa Microgreens Market by Category
10.4.6.4.3 Rest of Middle East and Africa Microgreens Market by End User
10.5. SOUTH AND CENTRAL AMERICA
10.5.1 South and Central America Microgreens Market Overview
10.5.2 South and Central America Microgreens Market Forecasts and Analysis
10.5.3 South and Central America Microgreens Market Forecasts and Analysis - By Product Type
10.5.4 South and Central America Microgreens Market Forecasts and Analysis - By Category
10.5.5 South and Central America Microgreens Market Forecasts and Analysis - By End User
10.5.6 South and Central America Microgreens Market Forecasts and Analysis - By Countries
10.5.6.1 Brazil Microgreens Market
10.5.6.1.1 Brazil Microgreens Market by Product Type
10.5.6.1.2 Brazil Microgreens Market by Category
10.5.6.1.3 Brazil Microgreens Market by End User
10.5.6.2 Argentina Microgreens Market
10.5.6.2.1 Argentina Microgreens Market by Product Type
10.5.6.2.2 Argentina Microgreens Market by Category
10.5.6.2.3 Argentina Microgreens Market by End User
10.5.6.3 Rest of South and Central America Microgreens Market
10.5.6.3.1 Rest of South and Central America Microgreens Market by Product Type
10.5.6.3.2 Rest of South and Central America Microgreens Market by Category
10.5.6.3.3 Rest of South and Central America Microgreens Market by End User

11. INDUSTRY LANDSCAPE
11.1. MERGERS AND ACQUISITIONS
11.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
11.3. NEW PRODUCT LAUNCHES
11.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS

12. MICROGREENS MARKET, KEY COMPANY PROFILES
12.1. FARMBOX GREENS LLC
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. 2BFRESH
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. THE CHEF’S GARDEN INC.
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. AEROFARMS LLC
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. FRESH ORIGINS
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. MADAR FARMS
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. LIVING EARTH FARMS
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. GOOD LEAF FARMS
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. METRO MICROGREENS
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. GREENBELT MICROGREENS
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
13.2. GLOSSARY OF TERMS
The List of Companies

1. Farmbox Greens LLC
2. 2BFresh
3. The Chef's Garden Inc.
4. Aerofarms LLC
5. Fresh Origins
6. Madar Farms
7. Living Earth Farms
8. Good Leaf Farms
9. Metro Microgreens
10. Greenbelt Microgreens

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. 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.

  1. 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:

Research Methodology

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.

  1. 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.

  1. 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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