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Food Waste Management Market

Global Food Waste Management Market is Segmented by Type (Fruits & Vegetables, Meat, Fish & Sea Food, Cereals, Dairy Products, and Processed Foods), By Process (Aerobic Digestion, Anaerobic Digestion, Combustion/Incineration, and Others), By Application (Fertilizers, Animal Feed, Biofuel, and Power Generation), Region, Global Industry Analysis, Market Size, Share, Growth, Trends, and Forecast 2024 to 2033

Base Year: 2023 Historical Data: 2020-22
  • Report ID: TBI-13546
  • Published Date: Sep, 2024
  • Pages: 236
  • Category: Consumer Goods
  • Format: PDF
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The food waste management market size was valued at USD 44.02 billion in 2023 and is anticipated to reach a projected value of USD 75.19 billion by 2033 while growing at a CAGR of 5.50% during the forecast period 2024-2033.

Food waste refers to the wastage generated during food processing and supply chain activities such as transportation, and distribution. Food waste management can be described as those activities and actions which are mandatory for the accomplishment of waste from the point of its initiation to the end of its clearance. The process of food waste management includes collection, transportation, treatment, and disposal of waste along with regulations and proper monitoring. One of the main reasons for the growth of the food waste management market is the food processing wastage that includes agricultural produce processing, meat, poultry & seafood processing wastage and wastes from different types of food processing. 

The factors driving the market's growth are rapid industrialization and urbanization across the world, especially in developing countries; the growing importance and usage of organic waste in the production of fertilizers and animal feed has driven the growth of the market significantly. The harmful effect on the environment due to the combustion of the wastes, which adds to the pollution, is a restraining factor for the market's growth. Many large companies are looking forward to investing in pioneering solutions to solve food waste management issues, which is an excellent opportunity for the development of the market.

Food Waste Management Market Size

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This study delivers a comprehensive analysis of type, process, application and region. The type segment includes fruits & vegetables, meat, fish & seafood, cereals, dairy products, and processed foods. The fruits & vegetable segment held the biggest market share of 30.55% in 2023 owing to the lack of proper storage, processing, and handling of the produce. The cereals segment is expected to witness significant growth mainly due to the lack of knowledge among the consumers about the preservation and storage practices of cereals, leading to a lot of wastage. The process segment includes aerobic digestion, anaerobic digestion, combustion/incineration, and others. The anaerobic digestion segment held the largest market share of 43.97% in 2023 owing to the benefits of treating the food waste with anaerobic digestion, such as no pathogens, which then limits the spread of diseases and odor. It also promotes sanitation and hygiene. Combustion/incineration also held a leading market as it can be used for all types of food wastes which is helpful in saving the costs of segregating the waste. The application segment includes fertilizers, animal feed, biofuel, and power generation. The animal feed segment held the biggest market share of 36.55% in 2023. Food waste can be processed using a rendering technique and fed to the livestock without incurring any additional costs.

The market has been divided into North America, Europe, Asia-Pacific, Middle East & Africa, and South America. North America held the most significant market share of 38.67% in 2023 owing to the Solid Waste Association of North America, which has supported and offered various practices and services, namely, integrated solid waste management and recycling of residential waste. Europe expects significant growth primarily due to excessive shopping, overproduction, and improper food management. The countries in Asia-Pacific are also rapidly adopting food waste management due to wastage of food in transit during exports to European and North American countries.

Some of the key players operating in the food waste management market are Republic Services, Inc. (U.S.), Stericycle, Inc. (U.S.), Andritz Ag (Austria), Waste Management, Inc. (U.S.), Veolia Environnement S.A. (France), Covanta Holding Corporation (U.S.), and Waste Connections, Inc. (Canada), Recology Inc., DeIorio's Foods Inc., FCC Environment Ltd., CT Environmental Group Ltd., Clean Harbors, Inc.

  • Food Waste Management Market Analysis and Forecast, Type
    • Fruits & Vegetables
    • Meat, Fish & Sea Food
    • Cereals
    • Dairy Products
    • Processed Foods
  • Food Waste Management Market Analysis and Forecast, Process
    • Aerobic Digestion
    • Anaerobic Digestion
    • Combustion/Incineration
    • Others
  • Food Waste Management Market Analysis and Forecast, Application
    • Fertilizers
    • Animal Feed
    • Biofuel
    • Power Generation
  • Food Waste Management Market Analysis and Forecast, Region
    • North America
      • U.S.
      • Canada
      • Mexico
    • Europe
      • Germany
      • France
      • Sweden
      • Netherland
      • U.K.
      • Italy
      • Spain
      • Turkey
      • Switzerland
      • Belgium
      • Rest Of Europe
    • Asia-Pacific
      • Japan
      • China
      • India
      • South Korea
      • Australia
      • Singapore
      • Malaysia
      • Thailand
      • Indonesia
      • Philippines
      • Rest Of APAC
    • South America
      • Brazil
      • Argentina
      • Peru
      • Colombia
      • Rest Of South America
    • Middle East And Africa
      •  UAE
      •  Saudi Arabia
      •  Egypt
      •  Nigeria
      •  South Africa
      • Rest Of Mea

Report Description:

  • The base year for the study has been considered 2023, historic year 2020 and 2022, the forecast period considered is from 2024 to 2033.
  • The study delivers a comprehensive analysis of global market for all segments and region
  • The report offers in-depth analysis of driving factors, opportunities and restraints for gaining the key insight of the market. The report emphasizes on all the key trends that play a vital role in the enlargement of the market from 2024 to 2033.
  • Porter’s Five Forces model is used in order to recognize the competitive scenario in the market. This report incorporates the industry analysis which is focused on providing an extensive view of the market.
  • The study also includes attractiveness analysis of all segments and regions which are benchmarked based on their market size, growth rate and attractiveness in terms of present and future opportunist for understanding the future growth of the market.
  • The report provides company profile of the key players operating in the market and a comparative analysis based on their business overviews, product offering, segment market share, regional presence, business strategies, innovations, mergers & acquisitions, recent developments, joint venture, collaborations, partnerships, SWOT analysis, and key financial information.
  • The market estimates have been evaluated by considering the effect of different political, economic, social, technological and legal factors which are based on our extensive secondary research, primary research, and in-house databases.

Frequesntly Asked Questions

As per The Brainy Insights, the size of the Food Waste Management market was valued USD 44.02 billion in 2023 & USD 75.19 billion by 2033.

Global Food Waste Management market is growing at a CAGR of 5.50% during the forecast period 2024-2033.

North America region emerged as the largest market for the Food Waste Management.

The market's growth will be influenced by the rapid industrialization and urbanization across the world.

Harmful effect on the environment due to the combustion of the waste could hamper the market growth.

Many large companies are looking forward to investing in pioneering solutions to solve food waste management issues is providing huge opportunities to the market.

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  • Further segmentation of the market on the basis of type, application, end use, product, technology, method, process and any other segment depending on the market
  • Segmentation on the basis of any specific country or region
  • Any segment can be classified on the basis of application
  • Application segment can be further divided on the basis of companies
  • The companies profiled are not limited, we can incorporate additional companies of your choice
  • We can split the company market share on the basis of product, application and region
  • Report can be prepared for any specific country/region/segment
  • Customers can be added on the basis of regions and countries
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1. Introduction
    1.1. Objectives of the Study
    1.2. Market Definition
    1.3. Research Scope
    1.4. Currency
    1.5. Key Target Audience

2. Research Methodology and Assumptions

3. Executive Summary

4. Premium Insights
    4.1. Porter’s Five Forces Analysis
    4.2. Value Chain Analysis
    4.3. Top Investment Pockets
          4.3.1. Market Attractiveness Analysis By Type
          4.3.2. Market Attractiveness Analysis By Process
          4.3.3. Market Attractiveness Analysis By Application
          4.3.4. Market Attractiveness Analysis By Region
    4.4. Industry Trends

5. Market Dynamics
    5.1. Market Evaluation
    5.2. Drivers
          5.2.1. Rapid industrialization and urbanization
          5.2.2. Use of organic waste in the procession of fertilizers and animal feed
    5.3. Restraints
          5.3.1. Harmful effect on environment due to pyre techniques
    5.4. Opportunities
          5.4.1. Companies looking to invest in pioneering solutions

6. Global Food Waste Management Market Analysis and Forecast, By Type
    6.1. Segment Overview
    6.2. Fruits & Vegetables
    6.3. Meat, Fish & Sea Food
    6.4. Cereals
    6.5. Dairy Products
    6.6. Processed Foods

7. Global Food Waste Management Market Analysis and Forecast, By Process
    7.1. Segment Overview
    7.2. Aerobic Digestion
    7.3. Anaerobic Digestion
    7.4. Combustion/Incineration
    7.5. Others

8. Global Food Waste Management Market Analysis and Forecast, By Application
    8.1. Segment Overview
    8.2. Fertilizers
    8.3. Animal Feed
    8.4. Biofuel
    8.5. Power Generation

9. Global Food Waste Management Market Analysis and Forecast, By Regional Analysis
    9.1. Segment Overview
    9.2. North America
          9.2.1. U.S.
          9.2.2. Canada
          9.2.3. Mexico
    9.3. Europe
          9.3.1. Germany
          9.3.2. France
          9.3.3. U.K.
          9.3.4. Italy
          9.3.5. Spain
    9.4. Asia-Pacific
          9.4.1. Japan
          9.4.2. China
          9.4.3. India
    9.5. South America
          9.5.1. Brazil
    9.6. Middle East and Africa
          9.6.1. UAE
          9.6.2. South Africa

10. Global Food Waste Management Market-Competitive Landscape
    10.1. Overview
    10.2. Market Share of Key Players in Global Food Waste Management Market
          10.2.1. Global Company Market Share
          10.2.2. North America Company Market Share
          10.2.3. Europe Company Market Share
          10.2.4. Asia-Pacific Company Market Share
    10.3. Competitive Situations and Trends
          10.3.1. Process Launches and Developments
          10.3.2. Partnerships, Collaborations, and Agreements
          10.3.3. Mergers & Acquisitions
          10.3.4. Expansions

11. Company Profiles
    11.1. Republic Services, Inc.
          11.1.1. Business Overview
          11.1.2. Company Snapshot
          11.1.3. Company Market Share Analysis
          11.1.4. Company Process Portfolio
          11.1.5. Recent Developments
          11.1.6. SWOT Analysis
    11.2. Stericycle, Inc.
          11.2.1. Business Overview
          11.2.2. Company Snapshot
          11.2.3. Company Market Share Analysis
          11.2.4. Company Process Portfolio
          11.2.5. Recent Developments
          11.2.6. SWOT Analysis
    11.3. Andritz Ag
          11.3.1. Business Overview
          11.3.2. Company Snapshot
          11.3.3. Company Market Share Analysis
          11.3.4. Company Process Portfolio
          11.3.5. Recent Developments
          11.3.6. SWOT Analysis
    11.4. Waste Management, Inc.
          11.4.1. Business Overview
          11.4.2. Company Snapshot
          11.4.3. Company Market Share Analysis
          11.4.4. Company Process Portfolio
          11.4.5. Recent Developments
          11.4.6. SWOT Analysis
    11.5. Veolia Environnement S.A.
          11.5.1. Business Overview
          11.5.2. Company Snapshot
          11.5.3. Company Market Share Analysis
          11.5.4. Company Process Portfolio
          11.5.5. Recent Developments
          11.5.6. SWOT Analysis
    11.6. Covanta Holding Corporation
          11.6.1. Business Overview
          11.6.2. Company Snapshot
          11.6.3. Company Market Share Analysis
          11.6.4. Company Process Portfolio
          11.6.5. Recent Developments
          11.6.6. SWOT Analysis
    11.7. Waste Connections, Inc.
          11.7.1. Business Overview
          11.7.2. Company Snapshot
          11.7.3. Company Market Share Analysis
          11.7.4. Company Process Portfolio
          11.7.5. Recent Developments
          11.7.6. SWOT Analysis
    11.8. Recology Inc.
          11.8.1. Business Overview
          11.8.2. Company Snapshot
          11.8.3. Company Market Share Analysis
          11.8.4. Company Process Portfolio
          11.8.5. Recent Developments
          11.8.6. SWOT Analysis
    11.9. DeIorio's Foods Inc.
          11.9.1. Business Overview
          11.9.2. Company Snapshot
          11.9.3. Company Market Share Analysis
          11.9.4. Company Process Portfolio
          11.9.5. Recent Developments
          11.9.6. SWOT Analysis
    11.10. FCC Environment Ltd.
          11.10.1. Business Overview
          11.10.2. Company Snapshot
          11.10.3. Company Market Share Analysis
          11.10.4. Company Process Portfolio
          11.10.5. Recent Developments
          11.10.6. SWOT Analysis
    11.11. CT Environmental Group Ltd.
          11.11.1. Business Overview
          11.11.2. Company Snapshot
          11.11.3. Company Market Share Analysis
          11.11.4. Company Process Portfolio
          11.11.5. Recent Developments
          11.11.6. SWOT Analysis
    11.12. Clean Harbors, Inc.
          11.12.1. Business Overview
          11.12.2. Company Snapshot
          11.12.3. Company Market Share Analysis
          11.12.4. Company Process Portfolio
          11.12.5. Recent Developments
          11.12.6. SWOT Analysis

List of Table

1. Global Food Waste Management Market, By Type, 2020-2033 (USD Billion)

2. Global Fruits & Vegetables, Food Waste Management Market, By Region, 2020-2033 (USD Billion) 

3. Global Meat, fish & seafood, Food Waste Management Market, By Region, 2020-2033 (USD Billion)

4. Global Cereals, Food Waste Management Market, By Region, 2020-2033 (USD Billion)

5. Global Dairy Products, Food Waste Management Market, By Region, 2020-2033 (USD Billion)

6. Global Processed Foods, Food Waste Management Market, By Region, 2020-2033 (USD Billion)

7. Global Food Waste Management Market, By Process, 2020-2033 (USD Billion)

8. Global Aerobic Digestion, Food Waste Management Market, By Region, 2020-2033 (USD Billion)

9. Global Anaerobic Digestion , Food Waste Management Market, By Region, 2020-2033 (USD Billion)

10. Global Combustion/Incineration, Food Waste Management Market, By Region, 2020-2033 (USD Billion)

11. Global Others, Food Waste Management Market, By Region, 2020-2033 (USD Billion)

12. Global Food Waste Management Market, By Application, 2020-2033 (USD Billion)

13. Global Fertilizers, Food Waste Management Market, By Region, 2020-2033 (USD Billion)

14. Global Animal Feed, Food Waste Management Market, By Region, 2020-2033 (USD Billion)

15. Global Biofuel, Food Waste Management Market, By Region, 2020-2033 (USD Billion)

16. Global Power generation, Food Waste Management Market, By Region, 2020-2033 (USD Billion)

17. North America Food Waste Management Market, By Type, 2020-2033 (USD Billion)

18. North America Food Waste Management Market, By Process, 2020-2033 (USD Billion)

19. North America Food Waste Management Market, By Application, 2020-2033 (USD Billion)

20. U.S. Food Waste Management Market, By Type, 2020-2033 (USD Billion)

21. U.S. Food Waste Management Market, By Process, 2020-2033 (USD Billion)

22. U.S. Food Waste Management Market, By Application, 2020-2033 (USD Billion)

23. Canada Food Waste Management Market, By Type, 2020-2033 (USD Billion)

24. Canada Food Waste Management Market, By Process, 2020-2033 (USD Billion)

25. Canada Food Waste Management Market, By Application, 2020-2033 (USD Billion)

26. Mexico Food Waste Management Market, By Type, 2020-2033 (USD Billion)

27. Mexico Food Waste Management Market, By Process, 2020-2033 (USD Billion)

28. Mexico Food Waste Management Market, By Application, 2020-2033 (USD Billion)

29. Europe Food Waste Management Market, By Type, 2020-2033 (USD Billion)

30. Europe Food Waste Management Market, By Process, 2020-2033 (USD Billion)

31. Europe Food Waste Management Market, By Application, 2020-2033 (USD Billion)

32. Germany Food Waste Management Market, By Type, 2020-2033 (USD Billion)

33. Germany Food Waste Management Market, By Process, 2020-2033 (USD Billion)

34. Germany Food Waste Management Market, By Application, 2020-2033 (USD Billion)

35. France Food Waste Management Market, By Type, 2020-2033 (USD Billion)

36. France Food Waste Management Market, By Process, 2020-2033 (USD Billion)

37. France Food Waste Management Market, By Application, 2020-2033 (USD Billion)

38. U.K. Food Waste Management Market, By Type, 2020-2033 (USD Billion)

39. U.K. Food Waste Management Market, By Process, 2020-2033 (USD Billion)

40. U.K. Food Waste Management Market, By Application, 2020-2033 (USD Billion)

41. Italy Food Waste Management Market, By Type, 2020-2033 (USD Billion)

42. Italy Food Waste Management Market, By Process, 2020-2033 (USD Billion)

43. Italy Food Waste Management Market, By Application, 2020-2033 (USD Billion)

44. Spain Food Waste Management Market, By Type, 2020-2033 (USD Billion)

45. Spain Food Waste Management Market, By Process, 2020-2033 (USD Billion)

46. Spain Food Waste Management Market, By Application, 2020-2033 (USD Billion)

47. Asia Pacific Food Waste Management Market, By Type, 2020-2033 (USD Billion)

48. Asia Pacific Food Waste Management Market, By Process, 2020-2033 (USD Billion)

49. Asia Pacific Food Waste Management Market, By Application, 2020-2033 (USD Billion)

50. Japan Food Waste Management Market, By Type, 2020-2033 (USD Billion)

51. Japan Food Waste Management Market, By Process, 2020-2033 (USD Billion)

52. Japan Food Waste Management Market, By Application, 2020-2033 (USD Billion)

53. China Food Waste Management Market, By Type, 2020-2033 (USD Billion)

54. China Food Waste Management Market, By Process, 2020-2033 (USD Billion)

55. China Food Waste Management Market, By Application, 2020-2033 (USD Billion)

56. India Food Waste Management Market, By Type, 2020-2033 (USD Billion)

57. India Food Waste Management Market, By Process, 2020-2033 (USD Billion)

58. India Food Waste Management Market, By Application, 2020-2033 (USD Billion)

59. South America Food Waste Management Market, By Type, 2020-2033 (USD Billion)

60. South America Food Waste Management Market, By Process, 2020-2033 (USD Billion)

61. South America Food Waste Management Market, By Application, 2020-2033 (USD Billion)

62. Brazil Food Waste Management Market, By Type, 2020-2033 (USD Billion)

63. Brazil Food Waste Management Market, By Process, 2020-2033 (USD Billion)

64. Brazil Food Waste Management Market, By Application, 2020-2033 (USD Billion)

65. Middle East and Africa Food Waste Management Market, By Type, 2020-2033 (USD Billion)

66. Middle East and Africa Food Waste Management Market, By Process, 2020-2033 (USD Billion)

67. Middle East and Africa Food Waste Management Market, By Application, 2020-2033 (USD Billion)

68. UAE Food Waste Management Market, By Type, 2020-2033 (USD Billion)

69. UAE Food Waste Management Market, By Process, 2020-2033 (USD Billion)

70. UAE Food Waste Management Market, By Application, 2020-2033 (USD Billion)

71. South Africa Food Waste Management Market, By Type, 2020-2033 (USD Billion)

72. South Africa Food Waste Management Market, By Process, 2020-2033 (USD Billion)

73. South Africa Food Waste Management Market, By Application, 2020-2033 (USD Billion)

List of Figures 

1. Global Food Waste Management Market Segmentation

2. Global Food Waste Management Market: Research Methodology

3. Market Size Estimation Methodology: Bottom-Up Approach

4. Market Size Estimation Methodology: Top-Down Approach

5. Data Triangulation

6. Porter’s Five Forces Analysis 

7. Value Chain Analysis 

8. Global Food Waste Management Market Attractiveness Analysis By Type

9. Global Food Waste Management Market Attractiveness Analysis By Process 

10. Global Food Waste Management Market Attractiveness Analysis By Application

11. Global Food Waste Management Market Attractiveness Analysis By Region

12. Global Food Waste Management Market: Dynamics

13. Global Food Waste Management Market Share by Type (2023 & 2033)

14. Global Food Waste Management Market Share by Process (2023 & 2033)

15. Global Food Waste Management Market Share by Application (2023 & 2033)

16. Global Food Waste Management Market Share by Regions (2023 & 2033)

17. Global Food Waste Management Market Share by Company (2023)

This study forecasts revenue at global, regional, and country levels from 2020 to 2033. The Brainy Insights has segmented the global Food Waste Management market based on below mentioned segments:

Global Food Waste Management Market by Type:

  • Fruits & Vegetables
  • Meat, Fish & Sea Food
  • Cereals
  • Dairy Products
  • Processed Foods

Global Food Waste Management Market by Process:

  • Aerobic Digestion
  • Anaerobic Digestion
  • Combustion/Incineration
  • Others

Global Food Waste Management Market by Application:

  • Fertilizers
  • Animal Feed
  • Biofuel
  • Power Generation

Global Food Waste Management Market by Region:

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Spain
  • Asia-Pacific
    • Japan
    • China
    • India
  • South America
    • Brazil
  • Middle East and Africa  
    • UAE
    • South Africa

Methodology

Research has its special purpose to undertake marketing efficiently. In this competitive scenario, businesses need information across all industry verticals; the information about customer wants, market demand, competition, industry trends, distribution channels etc. This information needs to be updated regularly because businesses operate in a dynamic environment. Our organization, The Brainy Insights incorporates scientific and systematic research procedures in order to get proper market insights and industry analysis for overall business success. The analysis consists of studying the market from a miniscule level wherein we implement statistical tools which helps us in examining the data with accuracy and precision. 

Our research reports feature both; quantitative and qualitative aspects for any market. Qualitative information for any market research process are fundamental because they reveal the customer needs and wants, usage and consumption for any product/service related to a specific industry. This in turn aids the marketers/investors in knowing certain perceptions of the customers. Qualitative research can enlighten about the different product concepts and designs along with unique service offering that in turn, helps define marketing problems and generate opportunities. On the other hand, quantitative research engages with the data collection process through interviews, e-mail interactions, surveys and pilot studies. Quantitative aspects for the market research are useful to validate the hypotheses generated during qualitative research method, explore empirical patterns in the data with the help of statistical tools, and finally make the market estimations.

The Brainy Insights offers comprehensive research and analysis, based on a wide assortment of factual insights gained through interviews with CXOs and global experts and secondary data from reliable sources. Our analysts and industry specialist assume vital roles in building up statistical tools and analysis models, which are used to analyse the data and arrive at accurate insights with exceedingly informative research discoveries. The data provided by our organization have proven precious to a diverse range of companies, facilitating them to address issues such as determining which products/services are the most appealing, whether or not customers use the product in the manner anticipated, the purchasing intentions of the market and many others.

Our research methodology encompasses an idyllic combination of primary and secondary initiatives. Key phases involved in this process are listed below:

MARKET RESEARCH PROCESS

Data Procurement:

The phase involves the gathering and collecting of market data and its related information with the help of different sources & research procedures.

The data procurement stage involves in data gathering and collecting through various data sources.

This stage involves in extensive research. These data sources includes:

Purchased Database: Purchased databases play a crucial role in estimating the market sizes irrespective of the domain. Our purchased database includes:

  • The organizational databases such as D&B Hoovers, and Bloomberg that helps us to identify the competitive scenario of the key market players/organizations along with the financial information.
  • Industry/Market databases such as Statista, and Factiva provides market/industry insights and deduce certain formulations. 
  • We also have contractual agreements with various reputed data providers and third party vendors who provide information which are not limited to:
    • Import & Export Data
    • Business Trade Information
    • Usage rates of a particular product/service on certain demographics mainly focusing on the unmet prerequisites

Primary Research: The Brainy Insights interacts with leading companies and experts of the concerned domain to develop the analyst team’s market understanding and expertise. It improves and substantiates every single data presented in the market reports. Primary research mainly involves in telephonic interviews, E-mail interactions and face-to-face interviews with the raw material providers, manufacturers/producers, distributors, & independent consultants. The interviews that we conduct provides valuable data on market size and industry growth trends prevailing in the market. Our organization also conducts surveys with the various industry experts in order to gain overall insights of the industry/market. For instance, in healthcare industry we conduct surveys with the pharmacists, doctors, surgeons and nurses in order to gain insights and key information of a medical product/device/equipment which the customers are going to usage. Surveys are conducted in the form of questionnaire designed by our own analyst team. Surveys plays an important role in primary research because surveys helps us to identify the key target audiences of the market. Additionally, surveys helps to identify the key target audience engaged with the market. Our survey team conducts the survey by targeting the key audience, thus gaining insights from them. Based on the perspectives of the customers, this information is utilized to formulate market strategies. Moreover, market surveys helps us to understand the current competitive situation of the industry. To be precise, our survey process typically involve with the 360 analysis of the market. This analytical process begins by identifying the prospective customers for a product or service related to the market/industry to obtain data on how a product/service could fit into customers’ lives.

Secondary Research: The secondary data sources includes information published by the on-profit organizations such as World bank, WHO, company fillings, investor presentations, annual reports, national government documents, statistical databases, blogs, articles, white papers and others. From the annual report, we analyse a company’s revenue to understand the key segment and market share of that organization in a particular region. We analyse the company websites and adopt the product mapping technique which is important for deriving the segment revenue. In the product mapping method, we select and categorize the products offered by the companies catering to domain specific market, deduce the product revenue for each of the companies so as to get overall estimation of the market size. We also source data and analyses trends based on information received from supply side and demand side intermediaries in the value chain. The supply side denotes the data gathered from supplier, distributor, wholesaler and the demand side illustrates the data gathered from the end customers for respective market domain.

The supply side for a domain specific market is analysed by:

  • Estimating and projecting penetration rates through analysing product attributes, availability of internal and external substitutes, followed by pricing analysis of the product.
  • Experiential assessment of year-on-year sales of the product by conducting interviews.

The demand side for the market is estimated through:

  • Evaluating the penetration level and usage rates of the product.
  • Referring to the historical data to determine the growth rate and evaluate the industry trends

In-house Library: Apart from these third-party sources, we have our in-house library of qualitative and quantitative information. Our in-house database includes market data for various industry and domains. These data are updated on regular basis as per the changing market scenario. Our library includes, historic databases, internal audit reports and archives.

Sometimes there are instances where there is no metadata or raw data available for any domain specific market. For those cases, we use our expertise to forecast and estimate the market size in order to generate comprehensive data sets. Our analyst team adopt a robust research technique in order to produce the estimates:

  • Applying demographic along with psychographic segmentation for market evaluation
  • Determining the Micro and Macro-economic indicators for each region 
  • Examining the industry indicators prevailing in the market. 

Data Synthesis: This stage involves the analysis & mapping of all the information obtained from the previous step. It also involves in scrutinizing the data for any discrepancy observed while data gathering related to the market. The data is collected with consideration to the heterogeneity of sources. Robust scientific techniques are in place for synthesizing disparate data sets and provide the essential contextual information that can orient market strategies. The Brainy Insights has extensive experience in data synthesis where the data passes through various stages:

  • Data Screening: Data screening is the process of scrutinising data/information collected from primary research for errors and amending those collected data before data integration method. The screening involves in examining raw data, identifying errors and dealing with missing data. The purpose of the data screening is to ensure data is correctly entered or not. The Brainy Insights employs objective and systematic data screening grades involving repeated cycles of quality checks, screening and suspect analysis.
  • Data Integration: Integrating multiple data streams is necessary to produce research studies that provide in-depth picture to the clients. These data streams come from multiple research studies and our in house database. After screening of the data, our analysts conduct creative integration of data sets, optimizing connections between integrated surveys and syndicated data sources. There are mainly 2 research approaches that we follow in order to integrate our data; top down approach and bottom up approach.

Market Deduction & Formulation: The final stage comprises of assigning data points at appropriate market spaces so as to deduce feasible conclusions. Analyst perspective & subject matter expert based holistic form of market sizing coupled with industry analysis also plays a crucial role in this stage.

This stage involves in finalization of the market size and numbers that we have collected from data integration step. With data interpolation, it is made sure that there is no gap in the market data. Successful trend analysis is done by our analysts using extrapolation techniques, which provide the best possible forecasts for the market.

Data Validation & Market Feedback: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helps us finalize data-points to be used for final calculations.

The Brainy Insights interacts with leading companies and experts of the concerned domain to develop the analyst team’s market understanding and expertise. It improves and substantiates every single data presented in the market reports. The data validation interview and discussion panels are typically composed of the most experienced industry members. The participants include, however, are not limited to:

  • CXOs and VPs of leading companies’ specific to sector
  • Purchasing managers, technical personnel, end-users
  • Key opinion leaders such as investment bankers, and industry consultants

Moreover, we always validate our data and findings through primary respondents from all the major regions we are working on.

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