The vegan pet food market was valued at US$ 8,667.97 million in 2020, it is expected to grow at a CAGR of 7.7% from 2021 to 2028.
Vegan pet food is produced with plant-based and natural ingredients without having a trace of animal derived raw material and ensuring no cruelty or exploitation of animals in any sorts. The factors such as the trend of veganism, humanization of pets, and increasing number of pet owners propel the growth of the vegan pet food market. However, nutrient deficiency related to vegan pet food hinders the market growth.
Asia-Pacific is anticipated to be the fastest-growing market for vegan pet foods in the coming years. With the economic growth and rise in disposable income of people, lifestyle and consumption pattern of food are changing in countries such as India, China, and Japan. People in the region tend to prefer vegan diet due to some holistic beliefs, to protect the environment, and to focus on weight management. Vegan pet owners are offering vegan pet food to their pets since it is healthy and easy to digest, which is further influencing the growth of the vegan pet food market in Asia-Pacific. Also, the vegan pet food industry in the region is witnessing the entrance of new manufacturers with innovative products.
Impact of COVID-19 Pandemic on Vegan Pet Food Market
The COVID-19 outbreak is adversely affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. The food & beverage industry is among the significant industries suffering from severe disruptions, such as restrictions on supply chain and shutdown of production plants. The shutdown of various plants and factories is hindering the global supply chains and negatively impacting the manufacturing activities, delivery schedules, and various goods sales. Various companies have already announced possible delays in product deliveries and slump in future sales of their products. In addition, the global travel bans imposed by countries in Europe, Asia, and North America are hampering the business collaboration and partnership opportunities. The disturbed value chain during the initial days of the pandemic has had a negative impact on raw material supply and further impacting the vegan pet food market. However, as the economies are planning to revive their operations, the demand for vegan pet food is rising. In addition, most people are now working from home, and this change in lifestyle has further inspired families to welcome new pets to their families. So, the negative impact of COVID-19 pandemic has not been significant in the vegan pet food market. Instead, vegan pet food manufacturers witnessed a significant rise in the sale of their products through online retail.
Vegan Pet Food Market, 2020
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Market Insights
Humanization of Pets
People value their pets and are also ready to spend significant money on keeping them healthy. The pet owners who are vegan prefer to feed vegan food to their pets. Most of the pet owners always opt for products that have clean labels, sustainability claims, and functional nutrition. Majority of the global population consider their pet as a family member. In addition, some of the families own more than just one dog, making them an integral part of the household. Moreover, the number of pet-friendly workplaces are increasing at a significant rate. Thus, growing humanization of pets increases the awareness regarding the quality and ingredients of the pet food provided by the owners, which propels the demand for the vegan pet food market.
Product Type Insights
Based on product type, the vegan pet food market is segmented into dry food, wet food, and others. The dry food segment led the market in 2020. Dry foods are low in moisture content and are available in various forms such as pellets, kibbles, flaked cereals, and others. Vegan dry pet food items contain plant-based ingredients such as corn, rice, soybean, oats, chickpea, sunflower seed meals, pea protein, hydrolysed vegetable meal, and flaxseed meal. Dry pet foods ensure the teeth health of dogs and cats by reducing the plaque build-up. Owing to its low moisture content, dry food can be stored without refrigeration unlike canned foods, which are prone to decay.
Vegan Pet Food Market, by Product Type – 2020 and 2028
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Pet Type Insights
Based on pet type, the vegan pet food market is bifurcated into dogs and cats. The dogs segment led the market in 2020. Dogs are the most popular and beloved pets among the pet owners worldwide. Dogs can be fed with vegan diet as vegan food is clean, light, and highly nutritious. This type of food helps in managing the weight of dogs and improving their energy levels. Moreover, it is easily digestible that improves the gut health of dogs and helps in overcoming the problems of constipation and loose stools.
Distribution Channel Insights
Based on distribution channel, the global vegan pet food market is segmented into supermarkets and hypermarkets, specialty stores, online retail, and others. The supermarkets and hypermarkets segment led the market in 2020. For vegan pet foods, supermarkets and hypermarkets are one of the most preferred distribution channels owing to the factors such as an availability of wide range of products with popular brands under one roof, convenience of selecting the products, and discounts and attractive deals.
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Vegan Pet Food Market: Strategic Insights
Market Size Value in US$ 8,667.97 Million in 2020 Market Size Value by US$ 15,651.22 Million by 2028 Growth rate CAGR of 7.7% from 2021-2028 Forecast Period 2021-2028 Base Year 2021
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Vegan Pet Food Market: Strategic Insights
| Market Size Value in | US$ 8,667.97 Million in 2020 |
| Market Size Value by | US$ 15,651.22 Million by 2028 |
| Growth rate | CAGR of 7.7% from 2021-2028 |
| Forecast Period | 2021-2028 |
| Base Year | 2021 |
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A few players operating in the vegan pet food market are Antos B.V.; Benevo; Bond Pet Foods, Inc.; V-dog; Soopa Pets; Vegan4dogs; Wild Earth; Yarrah; Isoropimene Zootrofe Georgios Tsappis Ltd.; and Halo Pets. The companies in the market are continuously looking forward to expand and diversify their market presence along with acquisition of new customer base and tapping prevailing business opportunities.
Report Spotlights
- Progressive industry trends in the vegan pet food market to help players develop effective long-term strategies
- Business growth strategies adopted by developed and developing markets
- Quantitative analysis of the vegan pet food market from 2019 to 2028
- Estimation of global demand for vegan pet food
- PEST analysis to illustrate the efficacy of buyers and suppliers operating in the industry
- Recent developments to understand the competitive market scenario
- Market trends and outlook as well as factors driving and restraining the growth of the vegan pet food market
- Assistance in decision-making process by highlighting market strategies that underpin commercial interest, leading to the market growth
- The size of the vegan pet food market size at various nodes
- Detailed overview and segmentation of the market, as well as the vegan pet food industry dynamics
- Size of the vegan pet food market in various regions with promising growth opportunities
Vegan Pet Food Market – by Product Type
- Dry Food
- Wet Food
- Others
Vegan Pet Food Market – by Pet Type
- Dogs
- Cats
Vegan Pet Food Market – by Distribution Channel
- Supermarkets and Hypermarkets
- Specialty Stores
- Online Retail
- Others
Company Profiles
- Antos B.V.
- Benevo
- Bond Pet Foods, Inc.
- V-dog
- Soopa Pets
- Vegan4dogs
- Wild Earth
- Yarrah
- Isoropimene Zootrofe Georgios Tsappis Ltd.
- Halo Pets
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Product Type , Pet Type , and Distribution Channel
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States
Frequently Asked Questions
The major players operating in the global vegan pet food market are Antos B.V., Benevo, Bond Pet Foods, Inc., V-dog, Soopa Pets, Vegan4dogs, Wild Earth, Yarrah, Isoropimene Zootrofe Georgios Tsappis Ltd., and Halo Pets amongst many others.
In 2020, the vegan pet food market was predominant by Europe at the global level. Easy availability and accessibility to vegan pet food coupled with increase in disposable income has led to an increase in demand for premium pet food products, driving the growth of the European vegan pet food market. According to the European Pet Food Industry in 2020, approximately 85 million households that have at least one pet animal as well as 25% of the households have cat as a pet animal and 24% of the households have dog as a pet. Thus, the factors such as increasing pet ownership, increase in spending on premium pet food products, more awareness about vegan food etc. are providing growth opportunities for the vegan pet food market in coming years.
Among the three segments of product type, dry food segment has led the market in 2020. Dry foods are low in moisture content and are available in various forms such as pellets, kibbles, flaked cereals, and others. Vegan dry pet foods contain plant-based ingredients such as corn, rice, soybean, oats, chickpea, sunflower seed meals, pea protein, hydrolysed vegetable meal, flaxseed meal, etc. Dry pet foods ensure the teeth health of dogs and cats by reducing the plaque build-up. Owing to its low moisture content, dry food can be stored without refrigeration unlike canned foods which are prone to decay. Thus, the adoption of dry vegan pet food is comparatively higher which in turn is boosting the growth of the segment.
1. Introduction. 21
1.1 Study Scope. 21
1.2 The Insight Partners Research Report Guidance. 21
1.3 Market Segmentation. 22
2. Key Takeaways. 24
3. Research Methodology. 28
3.1 Scope of the Study. 28
3.2 Research Methodology. 28
3.2.1 Data Collection. 29
3.2.2 Primary Interviews. 29
3.2.3 Hypothesis Formulation. 30
3.2.4 Macro-economic Factor Analysis. 30
3.2.5 Developing Base Number 30
3.2.6 Data Triangulation. 30
3.2.7 Country Level Data. 31
3.2.8 Limitations and Assumption. 31
4. Global Vegan Pet Food Market Landscape. 32
4.1 Market Overview.. 32
4.2 PEST Analysis. 33
4.2.1 North America. 33
4.2.2 Europe. 33
4.2.3 Asia-Pacific. 34
4.2.4 Middle East and Africa. 34
4.2.5 South and Central America. 35
4.3 Expert Opinion. 35
5. Vegan Pet Food Market – Key Market Dynamics. 36
5.1 Market Drivers. 36
5.1.1 Rising Number of Pet Owners. 36
5.1.2 Humanization of Pets. 36
5.2 Market Restraints. 37
5.2.1 Nutrient Deficiency Related to Vegan Pet Food. 37
5.3 Market Opportunities. 37
5.3.1 Increasing Demand from Asia-Pacific. 37
5.4 Future Trends. 38
5.4.1 Pet Food Fortification. 38
5.5 Impact Analysis. 39
6. Vegan Pet Food Market– Global Analysis. 40
6.1 Vegan Pet Food Market Overview.. 40
6.2 Vegan Pet Food Market –Revenue and Forecast To 2028 (US$ Million) 41
6.3 Competitive Positioning – Key Market Players. 42
7. Vegan Pet Food Market Analysis – By Product Type. 43
7.1 Overview.. 43
7.2 Vegan Pet Food Market, By Product Type (2020 and 2028) 43
7.3 Dry Food. 44
7.3.1 Overview.. 44
7.3.2 Dry Food: Vegan Pet Food Market – Revenue and Forecast to 2028 (US$ Million) 44
7.4 Wet Food. 45
7.4.1 Overview.. 45
7.4.2 Wet Food: Vegan Pet Food Market – Revenue and Forecast to 2028 (US$ Million) 45
7.5 Others. 46
7.5.1 Overview.. 46
7.5.2 Others: Vegan Pet Food Market – Revenue and Forecast to 2028 (US$ Million) 46
8. Vegan Pet Food Market Analysis – By Pet Type. 47
8.1 Overview.. 47
8.2 Vegan Pet Food Market, By Pet Type (2020 and 2028) 47
8.3 Dogs. 48
8.3.1 Overview.. 48
8.3.2 Dogs: Vegan Pet Food Market – Revenue and Forecast to 2028 (US$ Million) 48
8.4 Cats. 49
8.4.1 Overview.. 49
8.4.2 Cats: Vegan Pet Food Market – Revenue and Forecast to 2028 (US$ Million) 49
9. Vegan Pet Food Market Analysis – By Distribution Channel 50
9.1 Overview.. 50
9.2 Vegan Pet Food Market, By Distribution Channel (2020 and 2028) 50
9.3 Supermarkets and Hypermarkets. 51
9.3.1 Overview.. 51
9.3.2 Supermarkets and Hypermarkets: Vegan Pet Food Market – Revenue and Forecast to 2028 (US$ Million) 51
9.4 Specialty Stores. 52
9.4.1 Overview.. 52
9.4.2 Specialty Stores: Vegan Pet Food Market – Revenue and Forecast to 2028 (US$ Million) 52
9.5 Online Retail 53
9.5.1 Overview.. 53
9.5.2 Online Retail: Vegan Pet Food Market – Revenue and Forecast to 2028 (US$ Million) 53
9.6 Others. 54
9.6.1 Overview.. 54
9.6.2 Others: Vegan Pet Food Market – Revenue and Forecast to 2028 (US$ Million) 54
10. Vegan Pet Food Market – Geographic Analysis. 55
10.1 Overview.. 55
10.2 North America: Vegan Pet Food Market 55
10.2.1 North America: Vegan Pet Food Market –Revenue and Forecast to 2028 (US$ Million) 56
10.2.2 North America: Vegan Pet Food Market, By Product Type. 56
10.2.3 North America: Vegan Pet Food Market, by Pet Type. 57
10.2.4 North America: Vegan Pet Food Market, by Distribution Channel 58
10.2.5 North America: Vegan Pet Food Market, by Key Country. 59
10.2.5.1 US: Vegan Pet Food Market – Revenue and Forecast to 2028 (US$ Million) 59
10.2.5.1.1 US: Vegan Pet Food Market, by Product Type. 60
10.2.5.1.2 US: Vegan Pet Food Market, by Pet Type. 60
10.2.5.1.3 US: Vegan Pet Food Market, by Distribution Channel 60
10.2.5.2 Canada: Vegan Pet Food Market – Revenue and Forecast to 2028 (US$ Million) 61
10.2.5.2.1 Canada: Vegan Pet Food Market, by Product Type. 61
10.2.5.2.2 Canada: Vegan Pet Food Market, by Pet Type. 62
10.2.5.2.3 Canada: Vegan Pet Food Market, by Distribution Channel 62
10.2.5.3 Mexico: Vegan Pet Food Market – Revenue and Forecast to 2028 (US$ Million) 63
10.2.5.3.1 Mexico: Vegan Pet Food Market, by Product Type. 63
10.2.5.3.2 Mexico: Vegan Pet Food Market, by Pet Type. 64
10.2.5.3.3 Mexico: Vegan Pet Food Market, by Distribution Channel 64
10.3 Europe: Vegan Pet Food Market 65
10.3.1 Europe: Vegan Pet Food Market –Revenue and Forecast to 2028 (US$ Million) 65
10.3.2 Europe: Vegan Pet Food Market, By Product Type. 66
10.3.3 Europe: Vegan Pet Food Market, by Pet Type. 66
10.3.4 Europe: Vegan Pet Food Market, by Distribution Channel 67
10.3.5 Europe: Vegan Pet Food Market, by Key Country. 68
10.3.5.1 Germany: Vegan Pet Food Market – Revenue and Forecast to 2028 (US$ Million) 68
10.3.5.1.1 Germany: Vegan Pet Food Market, by Product Type. 69
10.3.5.1.2 Germany: Vegan Pet Food Market, by Pet Type. 69
10.3.5.1.3 Germany: Vegan Pet Food Market, by Distribution Channel 69
10.3.5.2 France: Vegan Pet Food Market – Revenue and Forecast to 2028 (US$ Million) 70
10.3.5.2.1 France: Vegan Pet Food Market, by Product Type. 70
10.3.5.2.2 France: Vegan Pet Food Market, by Pet Type. 71
10.3.5.2.3 France: Vegan Pet Food Market, by Distribution Channel 71
10.3.5.3 Italy: Vegan Pet Food Market – Revenue and Forecast to 2028 (US$ Million) 71
10.3.5.3.1 Italy: Vegan Pet Food Market, by Product Type. 72
10.3.5.3.2 Italy: Vegan Pet Food Market, by Pet Type. 72
10.3.5.3.3 Italy: Vegan Pet Food Market, by Distribution Channel 73
10.3.5.4 UK: Vegan Pet Food Market – Revenue and Forecast to 2028 (US$ Million) 73
10.3.5.4.1 UK: Vegan Pet Food Market, by Product Type. 74
10.3.5.4.2 UK: Vegan Pet Food Market, by Pet Type. 74
10.3.5.4.3 UIK: Vegan Pet Food Market, by Distribution Channel 74
10.3.5.5 Russia: Vegan Pet Food Market – Revenue and Forecast to 2028 (US$ Million) 75
10.3.5.5.1 Russia: Vegan Pet Food Market, by Product Type. 75
10.3.5.5.2 Russia: Vegan Pet Food Market, by Pet Type. 76
10.3.5.5.3 Russia: Vegan Pet Food Market, by Distribution Channel 76
10.3.5.6 Rest of Europe: Vegan Pet Food Market – Revenue and Forecast to 2028 (US$ Million) 76
10.3.5.6.1 Rest of Europe: Vegan Pet Food Market, by Product Type. 77
10.3.5.6.2 Rest of Europe: Vegan Pet Food Market, by Pet Type. 77
10.3.5.6.3 Rest of Europe: Vegan Pet Food Market, by Distribution Channel 77
10.4 Asia-Pacific: Vegan Pet Food Market 79
10.4.1 Asia- Pacific: Vegan Pet Food Market –Revenue and Forecast to 2028 (US$ Million) 79
10.4.2 Asia-Pacific: Vegan Pet Food Market, By Product Type. 80
10.4.3 Asia-Pacific: Vegan Pet Food Market, by Pet Type. 80
10.4.4 Asia-Pacific: Vegan Pet Food Market, by Distribution Channel 81
10.4.5 Asia- Pacific: Vegan Pet Food Market, by Key Country. 82
10.4.5.1 Australia: Vegan Pet Food Market –Revenue and Forecast to 2028 (US$ Million) 82
10.4.5.1.1 Australia: Vegan Pet Food Market, by Product Type. 83
10.4.5.1.2 Australia: Vegan Pet Food Market, by Pet Type. 83
10.4.5.1.3 Australia: Vegan Pet Food Market, by Distribution Channel 83
10.4.5.2 China: Vegan Pet Food Market –Revenue and Forecast to 2028 (US$ Million) 84
10.4.5.2.1 China: Vegan Pet Food Market, by Product Type. 85
10.4.5.2.2 China: Vegan Pet Food Market, by Pet Type. 85
10.4.5.2.3 China: Vegan Pet Food Market, by Distribution Channel 85
10.4.5.3 India: Vegan Pet Food Market –Revenue and Forecast to 2028 (US$ Million) 86
10.4.5.3.1 India: Vegan Pet Food Market, by Product Type. 86
10.4.5.3.2 India: Vegan Pet Food Market, by Pet Type. 87
10.4.5.3.3 India: Vegan Pet Food Market, by Distribution Channel 87
10.4.5.4 Japan: Vegan Pet Food Market –Revenue and Forecast to 2028 (US$ Million) 88
10.4.5.4.1 Japan: Vegan Pet Food Market, by Product Type. 88
10.4.5.4.2 Japan: Vegan Pet Food Market, by Pet Type. 89
10.4.5.4.3 Japan: Vegan Pet Food Market, by Distribution Channel 89
10.4.5.5 South Korea: Vegan Pet Food Market –Revenue and Forecast to 2028 (US$ Million) 89
10.4.5.5.1 South Korea: Vegan Pet Food Market, by Product Type. 90
10.4.5.5.2 South Korea: Vegan Pet Food Market, by Pet Type. 90
10.4.5.5.3 South Korea: Vegan Pet Food Market, by Distribution Channel 91
10.4.5.6 Rest of Asia-Pacific: Vegan Pet Food Market –Revenue and Forecast to 2028 (US$ Million) 91
10.4.5.6.1 Rest of Asia-Pacific: Vegan Pet Food Market, by Product Type. 92
10.4.5.6.2 Rest of Asia-Pacific: Vegan Pet Food Market, by Pet Type. 92
10.4.5.6.3 Rest of Asia-Pacific: Vegan Pet Food Market, by Distribution Channel 92
10.5 Middle East and Africa: Vegan Pet Food Market 94
10.5.1 Middle East and Africa: Vegan Pet Food Market –Revenue and Forecast to 2028 (US$ Million) 94
10.5.2 Middle East and Africa: Vegan Pet Food Market, By Product Type. 95
10.5.3 Middle East and Africa: Vegan Pet Food Market, by Pet Type. 95
10.5.4 Middle East and Africa: Vegan Pet Food Market, by Distribution Channel 96
10.5.5 Middle East and Africa: Vegan Pet Food Market, by Key Country. 97
10.5.5.1 South Africa: Vegan Pet Food Market –Revenue and Forecast to 2028 (US$ Million) 97
10.5.5.1.1 South Africa: Vegan Pet Food Market, by Product Type. 98
10.5.5.1.2 South Africa: Vegan Pet Food Market, by Pet Type. 98
10.5.5.1.3 South Africa: Vegan Pet Food Market, by Distribution Channel 98
10.5.5.2 Saudi Arabia: Vegan Pet Food Market –Revenue and Forecast to 2028 (US$ Million) 99
10.5.5.2.1 Saudi Arabia: Vegan Pet Food Market, by Product Type. 99
10.5.5.2.2 Saudi Arabia: Vegan Pet Food Market, by Pet Type. 99
10.5.5.2.3 Saudi Arabia Vegan Pet Food Market, by Distribution Channel 100
10.5.5.3 UAE: Vegan Pet Food Market –Revenue and Forecast to 2028 (US$ Million) 100
10.5.5.3.1 UAE: Vegan Pet Food Market, by Product Type. 101
10.5.5.3.2 UAE: Vegan Pet Food Market, by Pet Type. 101
10.5.5.3.3 UAE Vegan Pet Food Market, by Distribution Channel 102
10.5.5.4 Rest of the Middle East and Africa: Vegan Pet Food Market –Revenue and Forecast to 2028 (US$ Million) 102
10.5.5.4.1 Rest of the Middle East and Africa: Vegan Pet Food Market, by Product Type. 103
10.5.5.4.2 Rest of the Middle East and Africa: Vegan Pet Food Market, by Pet Type. 103
10.5.5.4.3 Rest of the Middle East and Africa: Vegan Pet Food Market, by Distribution Channel 103
10.6 South and Central America: Vegan Pet Food Market 105
10.6.1 South and Central America: Vegan Pet Food Market –Revenue and Forecast to 2028 (US$ Million) 105
10.6.2 South and Central America: Vegan Pet Food Market, By Product Type. 106
10.6.3 South and Central America: Vegan Pet Food Market, by Pet Type. 107
10.6.4 South and Central America: Vegan Pet Food Market, by Distribution Channel 107
10.6.5 South and Central America: Vegan Pet Food Market, by Key Country. 108
10.6.5.1 Brazil: Vegan Pet Food Market –Revenue and Forecast to 2028 (US$ Million) 109
10.6.5.1.1 Brazil: Vegan Pet Food Market, by Product Type. 109
10.6.5.1.2 Brazil: Vegan Pet Food Market, by Pet Type. 110
10.6.5.1.3 Brazil: Vegan Pet Food Market, by Distribution Channel 110
10.6.5.2 Argentina: Vegan Pet Food Market –Revenue and Forecast to 2028 (US$ Million) 110
10.6.5.2.1 Argentina: Vegan Pet Food Market, by Product Type. 111
10.6.5.2.2 Argentina: Vegan Pet Food Market, by Pet Type. 111
10.6.5.2.3 Argentina: Vegan Pet Food Market, by Distribution Channel 112
10.6.5.3 Rest of South and Central America: Vegan Pet Food Market –Revenue and Forecast to 2028 (US$ Million) 112
10.6.5.3.1 Rest of South and Central America: Vegan Pet Food Market, by Product Type. 113
10.6.5.3.2 Rest of South and Central America: Vegan Pet Food Market, by Pet Type. 113
10.6.5.3.3 Rest of South and Central America: Vegan Pet Food Market, by Distribution Channel 113
11. Overview- Impact of Coronavirus Outbreak. 115
11.1 Overview.. 115
11.2 Impact of COVID-19 on Vegan Pet Food Market 115
11.3 North America: Impact Assessment of COVID-19 Pandemic. 116
11.4 Europe: Impact Assessment of COVID-19 Pandemic. 117
11.5 Asia-Pacific: Impact Assessment of COVID-19 Pandemic. 118
11.6 Middle East & Africa: Impact Assessment of COVID-19 Pandemic. 119
11.7 South and Central America: Impact Assessment of COVID-19 Pandemic. 120
12. Company Profiles. 121
12.1 Antos B.V. 121
12.1.1 Key Facts. 121
12.1.2 Business Description. 121
12.1.3 Products and Services. 121
12.1.4 Financial Overview.. 121
12.1.5 SWOT Analysis. 122
12.1.6 Key Developments. 122
12.2 Benevo. 123
12.2.1 Key Facts. 123
12.2.2 Business Description. 123
12.2.3 Products and Services. 123
12.2.4 Financial Overview.. 124
12.2.5 SWOT Analysis. 124
12.2.6 Key Developments. 124
12.3 Bond Pet Foods, Inc. 125
12.3.1 Key Facts. 125
12.3.2 Business Description. 125
12.3.3 Products and Services. 125
12.3.4 Financial Overview.. 125
12.3.5 SWOT Analysis. 126
12.3.6 Key Developments. 126
12.4 V-dog. 127
12.4.1 Key Facts. 127
12.4.2 Business Description. 127
12.4.3 Products and Services. 127
12.4.4 Financial Overview.. 127
12.4.5 SWOT Analysis. 128
12.4.6 Key Developments. 128
12.5 Soopa Pets. 129
12.5.1 Key Facts. 129
12.5.2 Business Description. 129
12.5.3 Products and Services. 129
12.5.4 Financial Overview.. 130
12.5.5 SWOT Analysis. 130
12.5.6 Key Developments. 130
12.6 Vegan4dogs. 131
12.6.1 Key Facts. 131
12.6.2 Business Description. 131
12.6.3 Products and Services. 131
12.6.4 Financial Overview.. 131
12.6.5 SWOT Analysis. 132
12.6.6 Key Developments. 132
12.7 Wild Earth. 133
12.7.1 Key Facts. 133
12.7.2 Business Description. 133
12.7.3 Products and Services. 133
12.7.4 Financial Overview.. 133
12.7.5 SWOT Analysis. 134
12.7.6 Key Developments. 134
12.8 YARRAH.. 135
12.8.1 Key Facts. 135
12.8.2 Business Description. 135
12.8.3 Products and Services. 135
12.8.4 Financial Overview.. 135
12.8.5 SWOT Analysis. 136
12.8.6 Key Developments. 136
12.9 Isoropimene Zootrofe Georgios Tsappis Ltd. 137
12.9.1 Key Facts. 137
12.9.2 Business Description. 137
12.9.3 Products and Services. 137
12.9.4 Financial Overview.. 137
12.9.5 SWOT Analysis. 138
12.9.6 Key Developments. 138
12.10 Halo Pets. 139
12.10.1 Key Facts. 139
12.10.2 Business Description. 139
12.10.3 Products and Services. 139
12.10.4 Financial Overview.. 139
12.10.5 SWOT Analysis. 140
12.10.6 Key Developments. 140
13. Appendix. 141
13.1 About The Insight Partners. 141
13.2 Word Index. 141
LIST OF TABLES
Table 1. Vegan Pet Food Market –Revenue and Forecast To 2028 (US$ Million) 41
Table 2. Global Vegan Pet Food Market, by Product Type – Revenue and Forecast to 2028 (US$ Million) 43
Table 3. Global Vegan Pet Food Market, by Pet Type – Revenue and Forecast to 2028 (US$ Million) 47
Table 4. Global Vegan Pet Food Market, by Distribution Channel – Revenue and Forecast to 2028 (US$ Million) 50
Table 5. North America Vegan Pet Food Market, by Product Type – Revenue and Forecast to 2028 (US$ Million) 57
Table 6. North America Vegan Pet Food Market, by Pet Type – Revenue and Forecast to 2028 (US$ Million) 57
Table 7. North America Vegan Pet Food Market, by Distribution Channel – Revenue and Forecast to 2028 (US$ Million) 58
Table 8. US Vegan Pet Food Market, by Product Type – Revenue and Forecast to 2028 (US$ Million) 60
Table 9. US Vegan Pet Food Market, by Pet Type – Revenue and Forecast to 2028 (US$ Million) 60
Table 10. US Vegan Pet Food Market, by Distribution Channel – Revenue and Forecast to 2028 (US$ Million) 60
Table 11. Canada Vegan Pet Food Market, by Product Type – Revenue and Forecast to 2028 (US$ Million) 61
Table 12. Canada Vegan Pet Food Market, by Pet Type – Revenue and Forecast to 2028 (US$ Million) 62
Table 13. Canada Vegan Pet Food Market, by Distribution Channel – Revenue and Forecast to 2028 (US$ Million) 62
Table 14. Mexico Vegan Pet Food Market, by Product Type – Revenue and Forecast to 2028 (US$ Million) 63
Table 15. Mexico Vegan Pet Food Market, by Pet Type – Revenue and Forecast to 2028 (US$ Million) 64
Table 16. Mexico Vegan Pet Food Market, by Distribution Channel – Revenue and Forecast to 2028 (US$ Million) 64
Table 17. Europe Vegan Pet Food Market, by Product Type – Revenue and Forecast to 2028 (US$ Million) 66
Table 18. Europe Vegan Pet Food Market, by Pet Type – Revenue and Forecast to 2028 (US$ Million) 67
Table 19. Europe Vegan Pet Food Market, by Distribution Channel – Revenue and Forecast to 2028 (US$ Million) 67
Table 20. Germany: Vegan Pet Food Market, by Product Type – Revenue and Forecast to 2028 (US$ Million) 69
Table 21. Germany Vegan Pet Food Market, by Pet Type – Revenue and Forecast to 2028 (US$ Million) 69
Table 22. Germany Vegan Pet Food Market, by Distribution Channel – Revenue and Forecast to 2028 (US$ Million) 69
Table 23. France: Vegan Pet Food Market, by Product Type – Revenue and Forecast to 2028 (US$ Million) 70
Table 24. France Vegan Pet Food Market, by Pet Type – Revenue and Forecast to 2028 (US$ Million) 71
Table 25. France Vegan Pet Food Market, by Distribution Channel – Revenue and Forecast to 2028 (US$ Million) 71
Table 26. Italy: Vegan Pet Food Market, by Product Type – Revenue and Forecast to 2028 (US$ Million) 72
Table 27. Italy Vegan Pet Food Market, by Pet Type – Revenue and Forecast to 2028 (US$ Million) 72
Table 28. Italy Vegan Pet Food Market, by Distribution Channel – Revenue and Forecast to 2028 (US$ Million) 73
Table 29. UK: Vegan Pet Food Market, by Product Type – Revenue and Forecast to 2028 (US$ Million) 74
Table 30. UK Vegan Pet Food Market, by Pet Type – Revenue and Forecast to 2028 (US$ Million) 74
Table 31. UK Vegan Pet Food Market, by Distribution Channel – Revenue and Forecast to 2028 (US$ Million) 74
Table 32. Russia: Vegan Pet Food Market, by Product Type – Revenue and Forecast to 2028 (US$ Million) 75
Table 33. Russia Vegan Pet Food Market, by Pet Type – Revenue and Forecast to 2028 (US$ Million) 76
Table 34. Russia Vegan Pet Food Market, by Distribution Channel – Revenue and Forecast to 2028 (US$ Million) 76
Table 35. Rest of Europe: Vegan Pet Food Market, by Product Type – Revenue and Forecast to 2028 (US$ Million) 77
Table 36. Rest of Europe Vegan Pet Food Market, by Pet Type – Revenue and Forecast to 2028 (US$ Million) 77
Table 37. Rest of Europe Vegan Pet Food Market, by Distribution Channel – Revenue and Forecast to 2028 (US$ Million) 77
Table 38. Asia-Pacific Vegan Pet Food Market, by Product Type – Revenue and Forecast to 2028 (US$ Million) 80
Table 39. Asia-Pacific Vegan Pet Food Market, by Pet Type – Revenue and Forecast to 2028 (US$ Million) 81
Table 40. Asia-Pacific Vegan Pet Food Market, by Distribution Channel – Revenue and Forecast to 2028 (US$ Million) 81
Table 41. Australia: Vegan Pet Food Market, by Product Type – Revenue and Forecast to 2028 (US$ Million) 83
Table 42. Australia Vegan Pet Food Market, by Pet Type – Revenue and Forecast to 2028 (US$ Million) 83
Table 43. Australia Vegan Pet Food Market, by Distribution Channel – Revenue and Forecast to 2028 (US$ Million) 83
Table 44. China: Vegan Pet Food Market, by Product Type – Revenue and Forecast to 2028 (US$ Million) 85
Table 45. China: Vegan Pet Food Market, by Pet Type – Revenue and Forecast to 2028 (US$ Million) 85
Table 46. China: Vegan Pet Food Market, by Distribution Channel – Revenue and Forecast to 2028 (US$ Million) 85
Table 47. India: Vegan Pet Food Market, by Product Type – Revenue and Forecast to 2028 (US$ Million) 86
Table 48. India: Vegan Pet Food Market, by Pet Type – Revenue and Forecast to 2028 (US$ Million) 87
Table 49. India: Vegan Pet Food Market, by Distribution Channel – Revenue and Forecast to 2028 (US$ Million) 87
Table 50. Japan: Vegan Pet Food Market, by Product Type – Revenue and Forecast to 2028 (US$ Million) 88
Table 51. Japan: Vegan Pet Food Market, by Pet Type – Revenue and Forecast to 2028 (US$ Million) 89
Table 52. Japan: Vegan Pet Food Market, by Distribution Channel – Revenue and Forecast to 2028 (US$ Million) 89
Table 53. South Korea: Vegan Pet Food Market, by Product Type – Revenue and Forecast to 2028 (US$ Million) 90
Table 54. South Korea: Vegan Pet Food Market, by Pet Type – Revenue and Forecast to 2028 (US$ Million) 90
Table 55. South Korea: Vegan Pet Food Market, by Distribution Channel – Revenue and Forecast to 2028 (US$ Million) 91
Table 56. Rest of Asia-Pacific: Vegan Pet Food Market, by Product Type – Revenue and Forecast to 2028 (US$ Million) 92
Table 57. Rest of Asia-Pacific: Vegan Pet Food Market, by Pet Type – Revenue and Forecast to 2028 (US$ Million) 92
Table 58. Rest of Asia-Pacific: Vegan Pet Food Market, by Distribution Channel – Revenue and Forecast to 2028 (US$ Million) 92
Table 59. Middle East and Africa: Vegan Pet Food Market, by Product Type – Revenue and Forecast to 2028 (US$ Million) 95
Table 60. Middle East and Africa: Vegan Pet Food Market, by Pet Type – Revenue and Forecast to 2028 (US$ Million) 96
Table 61. Middle East and Africa: Vegan Pet Food Market, by Distribution Channel – Revenue and Forecast to 2028 (US$ Million) 96
Table 62. South Africa: Vegan Pet Food Market, by Product Type – Revenue and Forecast to 2028 (US$ Million) 98
Table 63. South Africa: Vegan Pet Food Market, by Pet Type – Revenue and Forecast to 2028 (US$ Million) 98
Table 64. South Africa: Vegan Pet Food Market, by Distribution Channel – Revenue and Forecast to 2028 (US$ Million) 98
Table 65. Saudi Arabia: Vegan Pet Food Market, by Product Type – Revenue and Forecast to 2028 (US$ Million) 99
Table 66. Saudi Arabia: Vegan Pet Food Market, by Pet Type – Revenue and Forecast to 2028 (US$ Million) 100
Table 67. Saudi Arabia Vegan Pet Food Market, by Distribution Channel – Revenue and Forecast to 2028 (US$ Million) 100
Table 68. UAE: Vegan Pet Food Market, by Product Type – Revenue and Forecast to 2028 (US$ Million) 101
Table 69. UAE: Vegan Pet Food Market, by Pet Type – Revenue and Forecast to 2028 (US$ Million) 101
Table 70. UAE Pet Food Market, by Distribution Channel – Revenue and Forecast to 2028 (US$ Million) 102
Table 71. Rest of the Middle East and Africa: Vegan Pet Food Market, by Product Type – Revenue and Forecast to 2028 (US$ Million) 103
Table 72. Rest of the Middle East and Africa: Vegan Pet Food Market, by Pet Type – Revenue and Forecast to 2028 (US$ Million) 103
Table 73. Rest of the Middle East and Africa: Pet Food Market, by Distribution Channel – Revenue and Forecast to 2028 (US$ Million) 103
Table 74. South and Central America: Vegan Pet Food Market, by Product Type – Revenue and Forecast to 2028 (US$ Million) 106
Table 75. South and Central America: Vegan Pet Food Market, by Pet Type – Revenue and Forecast to 2028 (US$ Million) 107
Table 76. South and Central America: Vegan Pet Food Market, by Distribution Channel – Revenue and Forecast to 2028 (US$ Million) 108
Table 77. Brazil: Vegan Pet Food Market, by Product Type – Revenue and Forecast to 2028 (US$ Million) 109
Table 78. Brazil: Vegan Pet Food Market, by Pet Type – Revenue and Forecast to 2028 (US$ Million) 110
Table 79. Brazil: Pet Food Market, by Distribution Channel – Revenue and Forecast to 2028 (US$ Million) 110
Table 80. Argentina: Vegan Pet Food Market, by Product Type – Revenue and Forecast to 2028 (US$ Million) 111
Table 81. Argentina: Vegan Pet Food Market, by Pet Type – Revenue and Forecast to 2028 (US$ Million) 111
Table 82. Argentina: Pet Food Market, by Distribution Channel – Revenue and Forecast to 2028 (US$ Million) 112
Table 83. Rest of South and Central America: Vegan Pet Food Market, by Product Type – Revenue and Forecast to 2028 (US$ Million) 113
Table 84. Rest of South and Central America: Vegan Pet Food Market, by Pet Type – Revenue and Forecast to 2028 (US$ Million) 113
Table 85. Rest of South and Central America: Pet Food Market, by Distribution Channel – Revenue and Forecast to 2028 (US$ Million) 113
Table 86. List of Abbreviation. 141
LIST OF FIGURES
Figure 1. Vegan Pet Food Market Segmentation. 22
Figure 2. Vegan Pet Food Market Segmentation – By Region. 23
Figure 3. Global Vegan Pet Food Market Overview.. 24
Figure 4. Dry Food Segment Held Largest Share of Global Vegan Pet Food Market 25
Figure 5. Europe Region Held Largest Share of Global Vegan Pet Food Market 26
Figure 6. Global Vegan Pet Food Market, Industry Landscape. 27
Figure 7. North America: PEST Analysis. 33
Figure 8. Europe: PEST Analysis. 33
Figure 9. Asia-Pacific: PEST Analysis. 34
Figure 10. Middle East and Africa: PEST Analysis. 34
Figure 11. South and Central America: PEST Analysis. 35
Figure 12. Expert Opinion. 35
Figure 13. Global Vegan Pet Food Market Impact Analysis of Drivers and Restraints. 39
Figure 14. Geographic Overview of Vegan Pet Food Market 40
Figure 15. Global: Vegan Pet Food Market – Revenue and Forecast To 2028 (US$ Million) 41
Figure 16. Vegan Pet Food Market Revenue Share, By Product Type (2020 and 2028) 43
Figure 17. Dry Food: Vegan Pet Food Market – Revenue and Forecast To 2028 (US$ Million) 44
Figure 18. Wet Food: Vegan Pet Food Market – Revenue and Forecast To 2028 (US$ Million) 45
Figure 19. Others: Vegan Pet Food Market – Revenue and Forecast To 2028 (US$ Million) 46
Figure 20. Vegan Pet Food Market Revenue Share, By Pet Type (2020 and 2028) 47
Figure 21. Dogs: Vegan Pet Food Market – Revenue and Forecast To 2028 (US$ Million) 48
Figure 22. Cats: Vegan Pet Food Market – Revenue and Forecast To 2028 (US$ Million) 49
Figure 23. Vegan Pet Food Market Revenue Share, By Distribution Channel (2020 and 2028) 50
Figure 24. Supermarkets and Hypermarkets: Vegan Pet Food Market – Revenue and Forecast To 2028 (US$ Million) 51
Figure 25. Specialty Stores: Vegan Pet Food Market – Revenue and Forecast To 2028 (US$ Million) 52
Figure 26. Online Retail: Vegan Pet Food Market – Revenue and Forecast To 2028 (US$ Million) 53
Figure 27. Others: Vegan Pet Food Market – Revenue and Forecast To 2028 (US$ Million) 54
Figure 28. Global Vegan Pet Food Market Revenue Share, By Region (2020 and 2028) 55
Figure 29. North America: Vegan Pet Food Market – Revenue and Forecast to 2028 (US$ Million) 56
Figure 30. North America: Vegan Pet Food Market Revenue Share, by Product Type (2020 and 2028) 56
Figure 31. North America: Vegan Pet Food Market Revenue Share, by Pet Type (2020 and 2028) 57
Figure 32. North America: Vegan Pet Food Market Revenue Share, by Distribution Channel (2020 and 2028) 58
Figure 33. North America: Vegan Pet Food Market Revenue Share, by Key Country (2020 and 2028) 59
Figure 34. US: Vegan Pet Food Market – Revenue and Forecast to 2028 (US$ Million) 59
Figure 35. Canada: Vegan Pet Food Market – Revenue and Forecast to 2028 (US$ Million) 61
Figure 36. Mexico: Vegan Pet Food Market – Revenue and Forecast to 2028 (US$ Million) 63
Figure 37. Europe: Vegan Pet Food Market – Revenue and Forecast to 2028 (US$ Million) 65
Figure 38. Europe: Vegan Pet Food Market Revenue Share, by Product Type (2020 and 2028) 66
Figure 39. Europe: Vegan Pet Food Market Revenue Share, by Pet Type (2020 and 2028) 66
Figure 40. Europe: Vegan Pet Food Market Revenue Share, by Distribution Channel (2020 and 2028) 67
Figure 41. Europe: Vegan Pet Food Market `Revenue Share, by Key Country (2020 and 2028) 68
Figure 42. Germany: Vegan Pet Food Market – Revenue and Forecast to 2028 (US$ Million) 68
Figure 43. France: Vegan Pet Food Market – Revenue and Forecast to 2028 (US$ Million) 70
Figure 44. Italy: Vegan Pet Food Market – Revenue and Forecast to 2028 (US$ Million) 71
Figure 45. UK: Vegan Pet Food Market – Revenue and Forecast to 2028 (US$ Million) 73
Figure 46. Russia: Vegan Pet Food Market – Revenue and Forecast to 2028 (US$ Million) 75
Figure 47. Rest of Europe: Vegan Pet Food Market – Revenue and Forecast to 2028 (US$ Million) 76
Figure 48. Asia-Pacific: Vegan Pet Food Market – Revenue and Forecast to 2028 (US$ Million) 79
Figure 49. Asia-Pacific: Vegan Pet Food Market Revenue Share, by Product Type (2020 and 2028) 80
Figure 50. Asia-Pacific: Vegan Pet Food Market Revenue Share, by Pet Type (2020 and 2028) 80
Figure 51. Asia-Pacific: Vegan Pet Food Market Revenue Share, by Distribution Channel (2020 and 2028) 81
Figure 52. Asia- Pacific: Vegan Pet Food Market Revenue Share, by Key Country (2020 and 2028) 82
Figure 53. Australia: Vegan Pet Food Market –Revenue and Forecast to 2028 (US$ Million) 82
Figure 54. China: Vegan Pet Food Market –Revenue and Forecast to 2028 (US$ Million) 84
Figure 55. India: Vegan Pet Food Market –Revenue and Forecast to 2028 (US$ Million) 86
Figure 56. Japan: Vegan Pet Food Market –Revenue and Forecast to 2028 (US$ Million) 88
Figure 57. South Korea: Vegan Pet Food Market –Revenue and Forecast to 2028 (US$ Million) 89
Figure 58. Rest of Asia-Pacific: Vegan Pet Food Market –Revenue and Forecast to 2028 (US$ Million) 91
Figure 59. Middle East and Africa: Vegan Pet Food Market – Revenue and Forecast to 2028 (US$ Million) 94
Figure 60. Middle East and Africa: Vegan Pet Food Market Revenue Share, by Product Type (2020 and 2028) 95
Figure 61. Middle East and Africa: Vegan Pet Food Market Revenue Share, by Pet Type (2020 and 2028) 95
Figure 62. Middle East and Africa: Vegan Pet Food Market Revenue Share, by Distribution Channel (2020 and 2028) 96
Figure 63. Middle East and Africa: Vegan Pet Food Market Revenue Share, by Key Country (2020 and 2028) 97
Figure 64. South Africa: Vegan Pet Food Market –Revenue and Forecast to 2028 (US$ Million) 97
Figure 65. Saudi Arabia: Vegan Pet Food Market –Revenue and Forecast to 2028 (US$ Million) 99
Figure 66. UAE: Vegan Pet Food Market –Revenue and Forecast to 2028 (US$ Million) 100
Figure 67. Rest of the Middle East and Africa: Vegan Pet Food Market –Revenue and Forecast to 2028 (US$ Million) 102
Figure 68. South and Central America: Vegan Pet Food Market – Revenue and Forecast to 2028 (US$ Million) 105
Figure 69. South and Central America: Vegan Pet Food Market Revenue Share, by Product Type (2020 and 2028) 106
Figure 70. South and Central America: Vegan Pet Food Market Revenue Share, by Pet Type (2020 and 2028) 107
Figure 71. Middle East and Africa: Vegan Pet Food Market Revenue Share, by Distribution Channel (2020 and 2028) 107
Figure 72. South and Central America: Vegan Pet Food Market Revenue Share, by Key Country (2020 and 2028) 108
Figure 73. Brazil: Vegan Pet Food Market –Revenue and Forecast to 2028 (US$ Million) 109
Figure 74. Argentina: Vegan Pet Food Market –Revenue and Forecast to 2028 (US$ Million) 110
Figure 75. Rest of South and Central America: Vegan Pet Food Market –Revenue and Forecast to 2028 (US$ Million) 112
Figure 76. Impact of COVID-19 Pandemic on Vegan Pet Food Market in North America. 116
Figure 77. Impact of COVID-19 Pandemic on Vegan Pet Food Market in Europe. 117
Figure 78. Impact of COVID-19 Pandemic on Vegan Pet Food Market in Asia-Pacific. 118
Figure 79. Impact of COVID-19 Pandemic on Vegan Pet Food Market in the Middle East & Africa. 119
Figure 80. Impact of COVID-19 Pandemic on Vegan Pet Food Market in South and Central America. 120
The List of Companies - Global Vegan Pet Foods Market
- Antos B.V.
- Benevo
- Bond Pet Foods, Inc.
- V-dog
- Soopa Pets
- Vegan4dogs
- Wild Earth
- YARRAH
- Isoropimene Zootrofe Georgios Tsappis Ltd.
- Halo Pets
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- 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
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- 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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