MARKET ANALYSIS
Savory ingredients are food components that add a savory or umami flavor to food. These ingredients are typically used to enhance the taste and depth of savory dishes, adding richness, complexity, and a satisfying mouthfeel. At the same time, the concept of savory flavors can vary across different cultures worldwide. Savory ingredients used in cooking include salt, herbs, garlic, spices, soy sauce, toppings, etc.
GROWTH DRIVERS AND CHALLENGES
Gradually, the populace's lifestyle has changed. People are gaining awareness about healthy foods and health-related diets. Consumers are becoming more conscious of their dietary choices and seeking savory ingredients offering nutritional benefits. They are looking for ingredients low in sodium, natural, and free from artificial additives, providing flavor without compromising health. Rising demand for ready-to-eat food, food exploration, and growing interest in plant-based and vegan foods bolster the market growth for savory ingredients. These ingredients are commonly used for manufacturing of packaged food products in the food processing industry as they are very cost-effective. Further, the market growth and demand for savory ingredients is expected to boost as consumers seek flavorful, nutritious, and culturally diverse food experiences. However, stringent regulations concerning food flavors may hinder the growth of the market, particularly in North America and Europe.
REPORT SEGMENTATION AND SCOPE
The "Global Savory Ingredients Market Analysis to 2030" is a specialized and in-depth study with a major focus on the global market trends and growth opportunities. The report aims to provide an overview of the global market with detailed market segmentation by type, origin, form, application, and geography. The global savory ingredients market has been witnessing high growth over the recent past and is expected to continue this trend during the forecast period. The report provides key statistics on the consumption of savory ingredients worldwide along with their demand in major regions and countries. In addition, the report provides the qualitative assessment of various factors affecting the savory ingredients market performance in major regions and countries. The report also includes a comprehensive analysis of the leading players in the savory ingredients market and their key strategic developments. Several analyses on the market dynamics are also included to help identify the key driving factors, market trends, and lucrative opportunities that would, in turn, aid in identifying the major revenue pockets.
Further, ecosystem analysis and Porter’s five forces analysis provide a 360-degree view of the global savory ingredients market, which helps understand the entire supply chain and various factors affecting the market growth.
SEGMENTAL ANALYSIS
The global savory ingredients market is segmented on the basis of type, origin, form, and application. Based on type, the savory ingredients market is segmented into monosodium glutamate, hydrolyzed vegetable proteins, hydrolyzed animal proteins, nucleotides, and other types. The monosodium glutamate segment holds the largest share in the savory ingredients market. This dominance is owing to the increase in demand for convenience food and functional food products. Thus, manufacturers are introducing various product formulations to meet consumers' demands and increase market share.
By origin, the global savory ingredients market is bifurcated into synthetic and natural. The natural segment is expected to hold the largest share during the forecast period. Natural ingredients are easily available in retail and local markets.
Based on form, the global savory ingredients market is segmented into powder, liquid, and other forms.
Based on application, the global savory ingredients market is segmented into food, prepared meals, snacks, feed, and other food applications. The snacks segment is projected to have the largest market share owing to changing behavior of consumers towards ready-made food.
REGIONAL ANALYSIS
The report provides a detailed overview of the global savory ingredients market with respect to five major regions, namely, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South & Central America. Leading countries in North America region, including US and Canada, dominate the market owing to the increase in the intake of supplements based on savory ingredients and their use as an ingredient in most functional food and beverages. Also, the government in the region promotes awareness into population about food safety and food hygiene which is driving the market of savory ingredients.
Asia Pacific is estimated to accounted for the largest share in the savory ingredients market due to the huge consumption of savory ingredients in soups, vegan foods, and curated meat products. The food & beverage industry in the Asia Pacific is constantly evolving, which is estimated to create opportunities for numerous other food manufacturers in the region. For instance, the increasing consumption of noodles in evolving economies due to the rising number of working professionals, busy lifestyles, and the growing young population is expected to boost the market growth.
FUTURE OPPORTUNITIES
The demand for organic products is constantly increasing across the world due to rising awareness among consumers. Thus, wide-ranging organic food products are very easily available on both online and offline sales channels. Additionally, awareness concerning medical benefits of organic food together with its rising cultivation is expected to appeal a number of manufacturers engaged in F&B industry. Thus, driving the demand for natural savory ingredients, for instance starch and yeast extract.
- December 2022: IFF announced it has entered into an agreement to divest the Savory Solutions Group to PAI Partners. The deal values the business at around US$ 900 million. The sale aligns with IFF’s strategy to focus on highest-return businesses, improve capital structure and enhance its growth profile.
- December 2021: Solina, the leading European producer of savory ingredients solutions for the food industry, has announced the acquisition of Asenzya, formerly Foran Spice Company.
IMPACT OF COVID/IMPACT OF GEOPOLITICAL SCENARIO/IMPACT OF RECESSION
The COVID-19 outbreak had positively impacted the global savory ingredient market. The sudden announcement of lockdown in several countries worldwide resulted in hoarding of packaged foods by the people due to uncertainty of future availability of food products. Further, the low availability of fresh food products also resulted in increased demand for packaged food, which bolstered the savory ingredients market growth. Moreover, the extended lockdown witnessed an increased demand for high-end packaged foods such as packaged meat, frozen desserts, etc.
The ongoing recession is expected to decrease the consumer spending on non-essential expenses, such as fancy dining, tourism, etc. owing to inflation. This might hamper the growth demand for savory ingredients. Furthermore, the rising labor costs is likely to disrupt the supply chain in the F&B industry. Several large F&B manufacturers are expected to shift their focus on margins than market share, which would offer opportunities to smaller companies’ operating in the industry.
COMPETITIVE LANDSCAPE AND KEY COMPANIES
Some of the key players operating in the global savory ingredients market include, ABF Ingredients (OHLY), Ajinomoto Co. Inc., Angel Yeast Co. Ltd, Cargill, Givaudan S.A., Kerry Group plc, Koninklijke DSM N.V., Lesaffre Group, Sensient Technologies Corporation, Symrise AG, Tate & Lyle plc, Vedan International (Holdings) Limited, and Vinayak Ingredients India Pvt Ltd., among others.
REGIONAL FRAMEWORK
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Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
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.
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 Savory Ingredients Market - By Type
1.3.2 Savory Ingredients Market - By Origin
1.3.3 Savory Ingredients Market - By Form
1.3.4 Savory Ingredients Market - By Application
1.3.5 Savory Ingredients Market - By Region
1.3.5.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. SAVORY INGREDIENTS 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. SAVORY INGREDIENTS 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. SAVORY INGREDIENTS MARKET - GLOBAL MARKET ANALYSIS
6.1. SAVORY INGREDIENTS - GLOBAL MARKET OVERVIEW
6.2. SAVORY INGREDIENTS - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. SAVORY INGREDIENTS MARKET - REVENUE AND FORECASTS TO 2028 - TYPE
7.1. OVERVIEW
7.2. TYPE MARKET FORECASTS AND ANALYSIS
7.3. MONOSODIUM GLUTAMATE
7.3.1. Overview
7.3.2. Monosodium glutamate Market Forecast and Analysis
7.4. HYDROLYZED VEGETABLE PROTEINS
7.4.1. Overview
7.4.2. Hydrolyzed vegetable proteins Market Forecast and Analysis
7.5. HYDROLYZED ANIMAL PROTEINS
7.5.1. Overview
7.5.2. Hydrolyzed animal proteins Market Forecast and Analysis
7.6. NUCLEOTIDES
7.6.1. Overview
7.6.2. Nucleotides Market Forecast and Analysis
7.7. OTHER TYPES
7.7.1. Overview
7.7.2. Other types Market Forecast and Analysis
8. SAVORY INGREDIENTS MARKET - REVENUE AND FORECASTS TO 2028 - ORIGIN
8.1. OVERVIEW
8.2. ORIGIN MARKET FORECASTS AND ANALYSIS
8.3. SYNTHETIC
8.3.1. Overview
8.3.2. Synthetic Market Forecast and Analysis
8.4. NATURAL
8.4.1. Overview
8.4.2. Natural Market Forecast and Analysis
9. SAVORY INGREDIENTS MARKET - REVENUE AND FORECASTS TO 2028 - FORM
9.1. OVERVIEW
9.2. FORM MARKET FORECASTS AND ANALYSIS
9.3. POWDER
9.3.1. Overview
9.3.2. Powder Market Forecast and Analysis
9.4. LIQUID
9.4.1. Overview
9.4.2. Liquid Market Forecast and Analysis
9.5. OTHER FORMS
9.5.1. Overview
9.5.2. Other forms Market Forecast and Analysis
10. SAVORY INGREDIENTS MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
10.1. OVERVIEW
10.2. APPLICATION MARKET FORECASTS AND ANALYSIS
10.3. FOOD
10.3.1. Overview
10.3.2. Food Market Forecast and Analysis
10.4. PREPARED MEALS
10.4.1. Overview
10.4.2. Prepared meals Market Forecast and Analysis
10.5. SNACKS
10.5.1. Overview
10.5.2. Snacks Market Forecast and Analysis
10.6. FEED
10.6.1. Overview
10.6.2. Feed Market Forecast and Analysis
10.7. OTHER FOOD APPLICATIONS
10.7.1. Overview
10.7.2. Other food applications Market Forecast and Analysis
11. SAVORY INGREDIENTS MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
11.1. NORTH AMERICA
11.1.1 North America Savory Ingredients Market Overview
11.1.2 North America Savory Ingredients Market Forecasts and Analysis
11.1.3 North America Savory Ingredients Market Forecasts and Analysis - By Type
11.1.4 North America Savory Ingredients Market Forecasts and Analysis - By Origin
11.1.5 North America Savory Ingredients Market Forecasts and Analysis - By Form
11.1.6 North America Savory Ingredients Market Forecasts and Analysis - By Application
11.1.7 North America Savory Ingredients Market Forecasts and Analysis - By Countries
11.1.7.1 United States Savory Ingredients Market
11.1.7.1.1 United States Savory Ingredients Market by Type
11.1.7.1.2 United States Savory Ingredients Market by Origin
11.1.7.1.3 United States Savory Ingredients Market by Form
11.1.7.1.4 United States Savory Ingredients Market by Application
11.1.7.2 Canada Savory Ingredients Market
11.1.7.2.1 Canada Savory Ingredients Market by Type
11.1.7.2.2 Canada Savory Ingredients Market by Origin
11.1.7.2.3 Canada Savory Ingredients Market by Form
11.1.7.2.4 Canada Savory Ingredients Market by Application
11.1.7.3 Mexico Savory Ingredients Market
11.1.7.3.1 Mexico Savory Ingredients Market by Type
11.1.7.3.2 Mexico Savory Ingredients Market by Origin
11.1.7.3.3 Mexico Savory Ingredients Market by Form
11.1.7.3.4 Mexico Savory Ingredients Market by Application
11.2. EUROPE
11.2.1 Europe Savory Ingredients Market Overview
11.2.2 Europe Savory Ingredients Market Forecasts and Analysis
11.2.3 Europe Savory Ingredients Market Forecasts and Analysis - By Type
11.2.4 Europe Savory Ingredients Market Forecasts and Analysis - By Origin
11.2.5 Europe Savory Ingredients Market Forecasts and Analysis - By Form
11.2.6 Europe Savory Ingredients Market Forecasts and Analysis - By Application
11.2.7 Europe Savory Ingredients Market Forecasts and Analysis - By Countries
11.2.7.1 Germany Savory Ingredients Market
11.2.7.1.1 Germany Savory Ingredients Market by Type
11.2.7.1.2 Germany Savory Ingredients Market by Origin
11.2.7.1.3 Germany Savory Ingredients Market by Form
11.2.7.1.4 Germany Savory Ingredients Market by Application
11.2.7.2 France Savory Ingredients Market
11.2.7.2.1 France Savory Ingredients Market by Type
11.2.7.2.2 France Savory Ingredients Market by Origin
11.2.7.2.3 France Savory Ingredients Market by Form
11.2.7.2.4 France Savory Ingredients Market by Application
11.2.7.3 Italy Savory Ingredients Market
11.2.7.3.1 Italy Savory Ingredients Market by Type
11.2.7.3.2 Italy Savory Ingredients Market by Origin
11.2.7.3.3 Italy Savory Ingredients Market by Form
11.2.7.3.4 Italy Savory Ingredients Market by Application
11.2.7.4 Spain Savory Ingredients Market
11.2.7.4.1 Spain Savory Ingredients Market by Type
11.2.7.4.2 Spain Savory Ingredients Market by Origin
11.2.7.4.3 Spain Savory Ingredients Market by Form
11.2.7.4.4 Spain Savory Ingredients Market by Application
11.2.7.5 United Kingdom Savory Ingredients Market
11.2.7.5.1 United Kingdom Savory Ingredients Market by Type
11.2.7.5.2 United Kingdom Savory Ingredients Market by Origin
11.2.7.5.3 United Kingdom Savory Ingredients Market by Form
11.2.7.5.4 United Kingdom Savory Ingredients Market by Application
11.2.7.6 Russia Savory Ingredients Market
11.2.7.6.1 Russia Savory Ingredients Market by Type
11.2.7.6.2 Russia Savory Ingredients Market by Origin
11.2.7.6.3 Russia Savory Ingredients Market by Form
11.2.7.6.4 Russia Savory Ingredients Market by Application
11.2.7.7 Rest of Europe Savory Ingredients Market
11.2.7.7.1 Rest of Europe Savory Ingredients Market by Type
11.2.7.7.2 Rest of Europe Savory Ingredients Market by Origin
11.2.7.7.3 Rest of Europe Savory Ingredients Market by Form
11.2.7.7.4 Rest of Europe Savory Ingredients Market by Application
11.3. ASIA-PACIFIC
11.3.1 Asia-Pacific Savory Ingredients Market Overview
11.3.2 Asia-Pacific Savory Ingredients Market Forecasts and Analysis
11.3.3 Asia-Pacific Savory Ingredients Market Forecasts and Analysis - By Type
11.3.4 Asia-Pacific Savory Ingredients Market Forecasts and Analysis - By Origin
11.3.5 Asia-Pacific Savory Ingredients Market Forecasts and Analysis - By Form
11.3.6 Asia-Pacific Savory Ingredients Market Forecasts and Analysis - By Application
11.3.7 Asia-Pacific Savory Ingredients Market Forecasts and Analysis - By Countries
11.3.7.1 Australia Savory Ingredients Market
11.3.7.1.1 Australia Savory Ingredients Market by Type
11.3.7.1.2 Australia Savory Ingredients Market by Origin
11.3.7.1.3 Australia Savory Ingredients Market by Form
11.3.7.1.4 Australia Savory Ingredients Market by Application
11.3.7.2 China Savory Ingredients Market
11.3.7.2.1 China Savory Ingredients Market by Type
11.3.7.2.2 China Savory Ingredients Market by Origin
11.3.7.2.3 China Savory Ingredients Market by Form
11.3.7.2.4 China Savory Ingredients Market by Application
11.3.7.3 India Savory Ingredients Market
11.3.7.3.1 India Savory Ingredients Market by Type
11.3.7.3.2 India Savory Ingredients Market by Origin
11.3.7.3.3 India Savory Ingredients Market by Form
11.3.7.3.4 India Savory Ingredients Market by Application
11.3.7.4 Japan Savory Ingredients Market
11.3.7.4.1 Japan Savory Ingredients Market by Type
11.3.7.4.2 Japan Savory Ingredients Market by Origin
11.3.7.4.3 Japan Savory Ingredients Market by Form
11.3.7.4.4 Japan Savory Ingredients Market by Application
11.3.7.5 South Korea Savory Ingredients Market
11.3.7.5.1 South Korea Savory Ingredients Market by Type
11.3.7.5.2 South Korea Savory Ingredients Market by Origin
11.3.7.5.3 South Korea Savory Ingredients Market by Form
11.3.7.5.4 South Korea Savory Ingredients Market by Application
11.3.7.6 Rest of Asia-Pacific Savory Ingredients Market
11.3.7.6.1 Rest of Asia-Pacific Savory Ingredients Market by Type
11.3.7.6.2 Rest of Asia-Pacific Savory Ingredients Market by Origin
11.3.7.6.3 Rest of Asia-Pacific Savory Ingredients Market by Form
11.3.7.6.4 Rest of Asia-Pacific Savory Ingredients Market by Application
11.4. MIDDLE EAST AND AFRICA
11.4.1 Middle East and Africa Savory Ingredients Market Overview
11.4.2 Middle East and Africa Savory Ingredients Market Forecasts and Analysis
11.4.3 Middle East and Africa Savory Ingredients Market Forecasts and Analysis - By Type
11.4.4 Middle East and Africa Savory Ingredients Market Forecasts and Analysis - By Origin
11.4.5 Middle East and Africa Savory Ingredients Market Forecasts and Analysis - By Form
11.4.6 Middle East and Africa Savory Ingredients Market Forecasts and Analysis - By Application
11.4.7 Middle East and Africa Savory Ingredients Market Forecasts and Analysis - By Countries
11.4.7.1 South Africa Savory Ingredients Market
11.4.7.1.1 South Africa Savory Ingredients Market by Type
11.4.7.1.2 South Africa Savory Ingredients Market by Origin
11.4.7.1.3 South Africa Savory Ingredients Market by Form
11.4.7.1.4 South Africa Savory Ingredients Market by Application
11.4.7.2 Saudi Arabia Savory Ingredients Market
11.4.7.2.1 Saudi Arabia Savory Ingredients Market by Type
11.4.7.2.2 Saudi Arabia Savory Ingredients Market by Origin
11.4.7.2.3 Saudi Arabia Savory Ingredients Market by Form
11.4.7.2.4 Saudi Arabia Savory Ingredients Market by Application
11.4.7.3 U.A.E Savory Ingredients Market
11.4.7.3.1 U.A.E Savory Ingredients Market by Type
11.4.7.3.2 U.A.E Savory Ingredients Market by Origin
11.4.7.3.3 U.A.E Savory Ingredients Market by Form
11.4.7.3.4 U.A.E Savory Ingredients Market by Application
11.4.7.4 Rest of Middle East and Africa Savory Ingredients Market
11.4.7.4.1 Rest of Middle East and Africa Savory Ingredients Market by Type
11.4.7.4.2 Rest of Middle East and Africa Savory Ingredients Market by Origin
11.4.7.4.3 Rest of Middle East and Africa Savory Ingredients Market by Form
11.4.7.4.4 Rest of Middle East and Africa Savory Ingredients Market by Application
11.5. SOUTH AND CENTRAL AMERICA
11.5.1 South and Central America Savory Ingredients Market Overview
11.5.2 South and Central America Savory Ingredients Market Forecasts and Analysis
11.5.3 South and Central America Savory Ingredients Market Forecasts and Analysis - By Type
11.5.4 South and Central America Savory Ingredients Market Forecasts and Analysis - By Origin
11.5.5 South and Central America Savory Ingredients Market Forecasts and Analysis - By Form
11.5.6 South and Central America Savory Ingredients Market Forecasts and Analysis - By Application
11.5.7 South and Central America Savory Ingredients Market Forecasts and Analysis - By Countries
11.5.7.1 Brazil Savory Ingredients Market
11.5.7.1.1 Brazil Savory Ingredients Market by Type
11.5.7.1.2 Brazil Savory Ingredients Market by Origin
11.5.7.1.3 Brazil Savory Ingredients Market by Form
11.5.7.1.4 Brazil Savory Ingredients Market by Application
11.5.7.2 Argentina Savory Ingredients Market
11.5.7.2.1 Argentina Savory Ingredients Market by Type
11.5.7.2.2 Argentina Savory Ingredients Market by Origin
11.5.7.2.3 Argentina Savory Ingredients Market by Form
11.5.7.2.4 Argentina Savory Ingredients Market by Application
11.5.7.3 Rest of South and Central America Savory Ingredients Market
11.5.7.3.1 Rest of South and Central America Savory Ingredients Market by Type
11.5.7.3.2 Rest of South and Central America Savory Ingredients Market by Origin
11.5.7.3.3 Rest of South and Central America Savory Ingredients Market by Form
11.5.7.3.4 Rest of South and Central America Savory Ingredients Market by Application
12. INDUSTRY LANDSCAPE
12.1. MERGERS AND ACQUISITIONS
12.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
12.3. NEW PRODUCT LAUNCHES
12.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
13. SAVORY INGREDIENTS MARKET, KEY COMPANY PROFILES
13.1. AJINOMOTO CO., INC.
13.1.1. Key Facts
13.1.2. Business Description
13.1.3. Products and Services
13.1.4. Financial Overview
13.1.5. SWOT Analysis
13.1.6. Key Developments
13.2. KONINKLIJKE DSM N.V.
13.2.1. Key Facts
13.2.2. Business Description
13.2.3. Products and Services
13.2.4. Financial Overview
13.2.5. SWOT Analysis
13.2.6. Key Developments
13.3. KERRY GROUP PLC
13.3.1. Key Facts
13.3.2. Business Description
13.3.3. Products and Services
13.3.4. Financial Overview
13.3.5. SWOT Analysis
13.3.6. Key Developments
13.4. TATE AND LYLE PLC
13.4.1. Key Facts
13.4.2. Business Description
13.4.3. Products and Services
13.4.4. Financial Overview
13.4.5. SWOT Analysis
13.4.6. Key Developments
13.5. GIVAUDAN
13.5.1. Key Facts
13.5.2. Business Description
13.5.3. Products and Services
13.5.4. Financial Overview
13.5.5. SWOT Analysis
13.5.6. Key Developments
13.6. SYMRISE
13.6.1. Key Facts
13.6.2. Business Description
13.6.3. Products and Services
13.6.4. Financial Overview
13.6.5. SWOT Analysis
13.6.6. Key Developments
13.7. LESAFFRE GROUP
13.7.1. Key Facts
13.7.2. Business Description
13.7.3. Products and Services
13.7.4. Financial Overview
13.7.5. SWOT Analysis
13.7.6. Key Developments
13.8. SENSIENT TECHNOLOGIES CORPORATION
13.8.1. Key Facts
13.8.2. Business Description
13.8.3. Products and Services
13.8.4. Financial Overview
13.8.5. SWOT Analysis
13.8.6. Key Developments
13.9. ANGELYEAST CO., LTD.
13.9.1. Key Facts
13.9.2. Business Description
13.9.3. Products and Services
13.9.4. Financial Overview
13.9.5. SWOT Analysis
13.9.6. Key Developments
13.10. VEDAN INTERNATIONAL (HOLDINGS) LIMITED
13.10.1. Key Facts
13.10.2. Business Description
13.10.3. Products and Services
13.10.4. Financial Overview
13.10.5. SWOT Analysis
13.10.6. Key Developments
14. APPENDIX
14.1. ABOUT THE INSIGHT PARTNERS
14.2. GLOSSARY OF TERMS
The List of Companies
1. AJINOMOTO CO., INC.
2. KONINKLIJKE DSM N.V.
3. KERRY GROUP PLC
4. TATE and LYLE PLC
5. GIVAUDAN
6. SYMRISE
7.LESAFFRE GROUP
8. SENSIENT TECHNOLOGIES CORPORATION
9. ANGELYEAST CO., LTD.
10. VEDAN INTERNATIONAL (HOLDINGS) LIMITED
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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