- +1-315-215-1633
- sales@thebrainyinsights.com
The meal kit delivery services market size was valued at USD 15.5 billion in 2021 and is anticipated to grow with a CAGR of 17.6% from 2022 to 2030. The rising preference for homemade meals is a major factor contributing to the growth of the market. Homemade meals are healthy and more economical than commercially prepared food available at restaurants and cafes. Thus, a lot of millennials for looking for meal kit delivery services. Further, meal kit service providers deliver proportioned ingredients, which simplifies cooking and removes the need to shop for a wide variety of ingredients.
The concept of meal kit delivery service is a huge success in countries like the US, UK, Canada, and the Netherlands as these services are popular among busy parents, people jugging between multiple jobs/shifts, the young generation, working couples, and even among people with special diet needs, who prefer proportioned ingredients or chef-prepared homely meals. These meals are a healthy mix of poultry, beef, pork, fish, and veggies. Further, these meals kit can be customized for delivery such as once a week, twice a week, thrice a week, or alternate days.
One of the major challenges for the meal kit delivery services market is supply chain management. Meal kit delivery services are gaining significant popularity among customers, owing to the convenience and minimal time required for delivery. However, since the COVID-19 outbreak, there has been a considerable demand for meal kit deliveries, which has reportedly resulted in delayed or canceled orders among leading players such as HelloFresh, Blue Apron, Freshly, Gobble, and Hungryroot.
Get an overview of this study by requesting a free sample
Aggressive marketing and expansions in lucrative Asian markets such as Japan, China, and India can be game changers for new entrants as well as for major players in the market. Some of the companies that have entered the Asian market include: -
By offering, the market has been segmented into heat & eat and cook & eat. The cook & eat segment accounted for a larger market share of 60.5% in 2021. The rising interest in cooking food at home is driving the demand for this segment. These meal kit service companies offer clean, washed, portioned chopped ingredients with easy-to-follow instructions to cook the recipe. Thus, it is easier for an individual to cook the food without any hassle and struggle regarding the quantity of ingredients or water that needs to be added and for how long the dish should be cooked. HelloFresh, Blue Apron LLC, Sun Basket, Marley Spoon Inc., and Relish Labs LLC are some of the major players operating in this segment.
The heat & eat segment is anticipated to register a faster CAGR of 18.0% during the forecast period as many consumers want a pre-cooked meal to be delivered at the home. This type of meal kit is gaining popularity, especially among the single/unmarried working population and students. These meals are prepared by the chef, the consumer can choose from a variety of recipes available on the website, which are changed on the regular basis. The companies operating in this segment are trying to enhance convenience for their consumers, thus, are focusing on, keto diets, paleo diets, and plant-based meals. Some of the companies offering this type of meal kit are Freshly Inc., Gobble, Yumble, Snap Kitchen LLC, and Veestro.
Online distribution channel held a larger market share of 62.5% in 2021. Most consumers order meal kits through online websites and mobile applications of a particular company. Further, consumers prefer to buy a subscription plan so that they can modify it or change it as per their needs, thus prefer to purchase through the online distribution channel. Moreover, ordering meals online is more convenient and easy for today’s high-tech consumers.
Meal kits are also available through offline stores such as Walmart, Tesco, and Kroger. Many consumers purchase meal kits along with other products while shopping in supermarkets, which is driving the demand through offline distribution channels. Some of the meal kits available at these stores include Ortega and Home Chef.
Single meal kit delivery services held a larger market share of 55.8% in 2021. Single meal kits are mostly ordered by bachelors staying away from family as they have a busy schedule and hectic work life. Moreover, bachelors do not like to shop for groceries or ingredients required to cook a meal, thus, prefer to order single meal kits. Further, most bachelors aren’t well versed in the idea of preparing a dish. Thus, meal kit delivery services offer a perfect solution for such a problem by offering meals on subscription.
A large number of families worldwide have both working parents, which makes it difficult to cook all the meals for a family. With the increased women working population, the stay-at-home mom population has reduced, thereby, driving the demand for multiple meal kit services. Moreover, many progressive families believe that mothers are stressed with daily household chores and to reduce their burden, families have started opting for meal kit services.
Non-vegetarian meals held the largest market share of 62.5% in 2021. Non-vegetarian meals are popular among consumers owing to their high protein content. Most consumers prefer to eat non-vegetarian meals consisting of chicken, shrimp, fish, and pork due to their high protein content. Further, people following a keto or paleo diet also prefer to eat chicken, eggs, and meat, which is driving the demand for this category.
Increasing acceptance of veganism among consumers, especially millennials, has been fueling the market for vegan meal kits. The vegan population is significantly increasing across countries due to increasing concern for animal welfare, environmental sustainability, and the rising prevalence of lactose intolerance. As of January 2022, about 10 % of Americans over the age of 18 consider themselves vegan a rise from 5% in 2018.
North America led the market with a share of 45.6% in 2021, owing to increasing demand from consumers due to the convenience offered by meal kits. Moreover, the presence of a large number of market players in the region is also influencing the market positively. An increasing number of consumers are purchasing meal kits in countries like the US and Canada to save their cooking time and effort. Also, these are considered economical in comparison to food ordered from restaurants.
The Asia Pacific is expected to expand at the fastest CAGR during the forecast period. The rising number of busy millennials and Gen Z in countries like India, Australia, and New Zealand are driving the demand for meal kits in the region. With the increasing demand for meal kit delivery services in this region, major players are adopting various strategies like a new product launches, acquisitions, and expansion. For instance, in May 2019, Oisix ra daichi Inc., a Tokyo-based meal-kit and food delivery operator, bought plant-based meal-kit company Purple Carrot.
The meal kit delivery services market has a presence of a large number of players including HelloFresh, Freshly Inc., Gobble, and Marley Spoon Inc. The market players are adopting various strategies such as new product launches, partnerships, and expansion of product portfolios, to increase their market share in this highly competitive market.
Segments Covered in the Report
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 Offering
4.3.2. Market Attractiveness Analysis by Distribution Channel
4.3.3. Market Attractiveness Analysis by Service
4.3.4. Market Attractiveness Analysis by Meal Type
4.3.5. Market Attractiveness Analysis by Region
4.4. Industry Trends
5. Market Dynamics
5.1. Market Evaluation
5.2. Drivers
5.2.1. Growing demand for convenient and effortless food
5.3. Restraints
5.3.1. Health related concerns
5.3.2. Issues with supply chain management
5.4. Opportunities
5.4.1. Rising disposable income
5.5. Challenges
5.5.1. Preference for traditional method of cooking
6. Global Meal Kit Delivery Services Market Analysis and Forecast, By Offering
6.1. Segment Overview
6.2. Cook & Eat
6.3. Heat & Eat
7. Global Meal Kit Delivery Services Market Analysis and Forecast, By Distribution Channel
7.1. Segment Overview
7.2. Online
7.3. Offline
8. Global Meal Kit Delivery Services Market Analysis and Forecast, By Service
8.1. Segment Overview
8.2. Single
8.3. Multiple
9. Global Meal Kit Delivery Services Market Analysis and Forecast, By Meal Type
9.1. Segment Overview
9.2. Non-Vegetarian
9.3. Vegetarian
9.4. Vegan
10. Global Meal Kit Delivery Services Market Analysis and Forecast, By Regional Analysis
10.1. Segment Overview
10.2. North America
10.2.1. U.S.
10.2.2. Canada
10.2.3. Mexico
10.3. Europe
10.3.1. Germany
10.3.2. France
10.3.3. U.K.
10.3.4. Italy
10.3.5. Spain
10.4. Asia-Pacific
10.4.1. Japan
10.4.2. China
10.4.3. India
10.5. South America
10.5.1. Brazil
10.6. Middle East and Africa
10.6.1. UAE
10.6.2. South Africa
11. Global Meal Kit Delivery Services Market-Competitive Landscape
11.1. Overview
11.2. Market Share of Key Players in the Meal Kit Delivery Services Market
11.2.1. Global Company Market Share
11.2.2. North America Company Market Share
11.2.3. Europe Company Market Share
11.2.4. APAC Company Market Share
11.3. Competitive Situations and Trends
11.3.1. Product Launches and Developments
11.3.2. Partnerships, Collaborations, and Agreements
11.3.3. Mergers & Acquisitions
11.3.4. Expansions
12. Company Profiles
12.1. HelloFresh
12.1.1. Business Overview
12.1.2. Company Snapshot
12.1.3. Company Market Share Analysis
12.1.4. Company Product Portfolio
12.1.5. Recent Developments
12.1.6. SWOT Analysis
12.2. Sun Basket
12.2.1. Business Overview
12.2.2. Company Snapshot
12.2.3. Company Market Share Analysis
12.2.4. Company Product Portfolio
12.2.5. Recent Developments
12.2.6. SWOT Analysis
12.3. Relish Labs LLC
12.3.1. Business Overview
12.3.2. Company Snapshot
12.3.3. Company Market Share Analysis
12.3.4. Company Product Portfolio
12.3.5. Recent Developments
12.3.6. SWOT Analysis
12.4. Gobble
12.4.1. Business Overview
12.4.2. Company Snapshot
12.4.3. Company Market Share Analysis
12.4.4. Company Product Portfolio
12.4.5. Recent Developments
12.4.6. SWOT Analysis
12.5. Purple Carrot
12.5.1. Business Overview
12.5.2. Company Snapshot
12.5.3. Company Market Share Analysis
12.5.4. Company Product Portfolio
12.5.5. Recent Developments
12.5.6. SWOT Analysis
12.6. Hungryroot
12.6.1. Business Overview
12.6.2. Company Snapshot
12.6.3. Company Market Share Analysis
12.6.4. Company Product Portfolio
12.6.5. Recent Developments
12.6.6. SWOT Analysis
12.7. Blue Apron, LLC
12.7.1. Business Overview
12.7.2. Company Snapshot
12.7.3. Company Market Share Analysis
12.7.4. Company Product Portfolio
12.7.5. Recent Developments
12.7.6. SWOT Analysis
12.8. Freshly Inc.
12.8.1. Business Overview
12.8.2. Company Snapshot
12.8.3. Company Market Share Analysis
12.8.4. Company Product Portfolio
12.8.5. Recent Developments
12.8.6. SWOT Analysis
12.9. Marley Spoon Inc.
12.9.1. Business Overview
12.9.2. Company Snapshot
12.9.3. Company Market Share Analysis
12.9.4. Company Product Portfolio
12.9.5. Recent Developments
12.9.6. SWOT Analysis
12.10. Diet-To-Go
12.10.1. Business Overview
12.10.2. Company Snapshot
12.10.3. Company Market Share Analysis
12.10.4. Company Product Portfolio
12.10.5. Recent Developments
12.10.6. SWOT Analysis
12.11. Allplants Ltd.
12.11.1. Business Overview
12.11.2. Company Snapshot
12.11.3. Company Market Share Analysis
12.11.4. Company Product Portfolio
12.11.5. Recent Developments
12.11.6. SWOT Analysis
12.12. Snap Kitchen, LLC
12.12.1. Business Overview
12.12.2. Company Snapshot
12.12.3. Company Market Share Analysis
12.12.4. Company Product Portfolio
12.12.5. Recent Developments
12.12.6. SWOT Analysis
List of Table
1. Global Meal Kit Delivery Services Market, By Offering, 2019-2030 (USD Billion)
2. Global Cook & Eat Meal Kit Delivery Services Market, By Region, 2019-2030 (USD Billion)
3. Global Heat & Eat Meal Kit Delivery Services Market, By Region, 2019-2030 (USD Billion)
4. Global Meal Kit Delivery Services Market, By Distribution Channel, 2019-2030 (USD Billion)
5. Global Online Meal Kit Delivery Services Market, By Region, 2019-2030 (USD Billion)
6. Global Offline Meal Kit Delivery Services Market, By Region, 2019-2030 (USD Billion)
7. Global Meal Kit Delivery Services Market, By Service, 2019-2030 (USD Billion)
8. Global Single Meal Kit Delivery Services Market, By Region, 2019-2030 (USD Billion)
9. Global Multiple Meal Kit Delivery Services Market, By Region, 2019-2030 (USD Billion)
10. Global Meal Kit Delivery Services Market, By Meal Type, 2019-2030 (USD Billion)
11. Global Non-Vegetarian Meal Kit Delivery Services Market, By Region, 2019-2030 (USD Billion)
12. Global Vegetarian Meal Kit Delivery Services Market, By Region, 2019-2030 (USD Billion)
13. Global Vegan Meal Kit Delivery Services Market, By Region, 2019-2030 (USD Billion)
14. Global Meal Kit Delivery Services Market, By Region, 2019-2030 (USD Billion)
15. North America Meal Kit Delivery Services Market, By Offering, 2019-2030 (USD Billion)
16. North America Meal Kit Delivery Services Market, By Distribution Channel, 2019-2030 (USD Billion)
17. North America Meal Kit Delivery Services Market, By Service, 2019-2030 (USD Billion)
18. North America Meal Kit Delivery Services Market, By Meal Type, 2019-2030 (USD Billion)
19. U.S. Meal Kit Delivery Services Market, By Offering, 2019-2030 (USD Billion)
20. U.S. Meal Kit Delivery Services Market, By Distribution Channel, 2019-2030 (USD Billion)
21. U.S. Meal Kit Delivery Services Market, By Service, 2019-2030 (USD Billion)
22. U.S. Meal Kit Delivery Services Market, By Meal Type, 2019-2030 (USD Billion)
23. Canada Meal Kit Delivery Services Market, By Offering, 2019-2030 (USD Billion)
24. Canada Meal Kit Delivery Services Market, By Distribution Channel, 2019-2030 (USD Billion)
25. Canada Meal Kit Delivery Services Market, By Service, 2019-2030 (USD Billion)
26. Canada Meal Kit Delivery Services Market, By Meal Type, 2019-2030 (USD Billion)
27. Mexico Meal Kit Delivery Services Market, By Offering, 2019-2030 (USD Billion)
28. Mexico Meal Kit Delivery Services Market, By Distribution Channel, 2019-2030 (USD Billion)
29. Mexico Meal Kit Delivery Services Market, By Service, 2019-2030 (USD Billion)
30. Mexico Meal Kit Delivery Services Market, By Meal Type, 2019-2030 (USD Billion)
31. Europe Meal Kit Delivery Services Market, By Offering, 2019-2030 (USD Billion)
32. Europe Meal Kit Delivery Services Market, By Distribution Channel, 2019-2030 (USD Billion)
33. Europe Meal Kit Delivery Services Market, By Service, 2019-2030 (USD Billion)
34. Europe Meal Kit Delivery Services Market, By Meal Type, 2019-2030 (USD Billion)
35. Germany Meal Kit Delivery Services Market, By Offering, 2019-2030 (USD Billion)
36. Germany Meal Kit Delivery Services Market, By Distribution Channel, 2019-2030 (USD Billion)
37. Germany Meal Kit Delivery Services Market, By Service, 2019-2030 (USD Billion)
38. Germany Meal Kit Delivery Services Market, By Meal Type, 2019-2030 (USD Billion)
39. France Meal Kit Delivery Services Market, By Offering, 2019-2030 (USD Billion)
40. France Meal Kit Delivery Services Market, By Distribution Channel, 2019-2030 (USD Billion)
41. France Meal Kit Delivery Services Market, By Service, 2019-2030 (USD Billion)
42. France Meal Kit Delivery Services Market, By Meal Type, 2019-2030 (USD Billion)
43. U.K. Meal Kit Delivery Services Market, By Offering, 2019-2030 (USD Billion)
44. U.K. Meal Kit Delivery Services Market, By Distribution Channel, 2019-2030 (USD Billion)
45. U.K. Meal Kit Delivery Services Market, By Service, 2019-2030 (USD Billion)
46. U.K. Meal Kit Delivery Services Market, By Meal Type, 2019-2030 (USD Billion)
47. Italy Meal Kit Delivery Services Market, By Offering, 2019-2030 (USD Billion)
48. Italy Meal Kit Delivery Services Market, By Distribution Channel, 2019-2030 (USD Billion)
49. Italy Meal Kit Delivery Services Market, By Service, 2019-2030 (USD Billion)
50. Italy Meal Kit Delivery Services Market, By Meal Type, 2019-2030 (USD Billion)
51. Spain Meal Kit Delivery Services Market, By Offering, 2019-2030 (USD Billion)
52. Spain Meal Kit Delivery Services Market, By Distribution Channel, 2019-2030 (USD Billion)
53. Spain Meal Kit Delivery Services Market, By Service, 2019-2030 (USD Billion)
54. Spain Meal Kit Delivery Services Market, By Meal Type, 2019-2030 (USD Billion)
55. Asia Pacific Meal Kit Delivery Services Market, By Offering, 2019-2030 (USD Billion)
56. Asia Pacific Meal Kit Delivery Services Market, By Distribution Channel, 2019-2030 (USD Billion)
57. Asia Pacific Meal Kit Delivery Services Market, By Service, 2019-2030 (USD Billion)
58. Asia Pacific Meal Kit Delivery Services Market, By Meal Type, 2019-2030 (USD Billion)
59. Japan Meal Kit Delivery Services Market, By Offering, 2019-2030 (USD Billion)
60. Japan Meal Kit Delivery Services Market, By Distribution Channel, 2019-2030 (USD Billion)
61. Japan Meal Kit Delivery Services Market, By Service, 2019-2030 (USD Billion)
62. Japan Meal Kit Delivery Services Market, By Meal Type, 2019-2030 (USD Billion)
63. China Meal Kit Delivery Services Market, By Offering, 2019-2030 (USD Billion)
64. China Meal Kit Delivery Services Market, By Distribution Channel, 2019-2030 (USD Billion)
65. China Meal Kit Delivery Services Market, By Service, 2019-2030 (USD Billion)
66. China Meal Kit Delivery Services Market, By Meal Type, 2019-2030 (USD Billion)
67. India Meal Kit Delivery Services Market, By Offering, 2019-2030 (USD Billion)
68. India Meal Kit Delivery Services Market, By Distribution Channel, 2019-2030 (USD Billion)
69. India Meal Kit Delivery Services Market, By Service, 2019-2030 (USD Billion)
70. India Meal Kit Delivery Services Market, By Meal Type, 2019-2030 (USD Billion)
71. South America Meal Kit Delivery Services Market, By Offering, 2019-2030 (USD Billion)
72. South America Meal Kit Delivery Services Market, By Distribution Channel, 2019-2030 (USD Billion)
73. South America Meal Kit Delivery Services Market, By Service, 2019-2030 (USD Billion)
74. South America Meal Kit Delivery Services Market, By Meal Type, 2019-2030 (USD Billion)
75. Brazil Meal Kit Delivery Services Market, By Offering, 2019-2030 (USD Billion)
76. Brazil Meal Kit Delivery Services Market, By Distribution Channel, 2019-2030 (USD Billion)
77. Brazil Meal Kit Delivery Services Market, By Service, 2019-2030 (USD Billion)
78. Brazil Meal Kit Delivery Services Market, By Meal Type, 2019-2030 (USD Billion)
79. Middle East and Africa Meal Kit Delivery Services Market, By Offering, 2019-2030 (USD Billion)
80. Middle East and Africa Meal Kit Delivery Services Market, By Distribution Channel, 2019-2030 (USD Billion)
81. Middle East and Africa Meal Kit Delivery Services Market, By Service, 2019-2030 (USD Billion)
82. Middle East and Africa Meal Kit Delivery Services Market, By Meal Type, 2019-2030 (USD Billion)
83. UAE Meal Kit Delivery Services Market, By Offering, 2019-2030 (USD Billion)
84. UAE Meal Kit Delivery Services Market, By Distribution Channel, 2019-2030 (USD Billion)
85. UAE Meal Kit Delivery Services Market, By Service, 2019-2030 (USD Billion)
86. UAE Meal Kit Delivery Services Market, By Meal Type, 2019-2030 (USD Billion)
87. South Africa Meal Kit Delivery Services Market, By Offering, 2019-2030 (USD Billion)
88. South Africa Meal Kit Delivery Services Market, By Distribution Channel, 2019-2030 (USD Billion)
89. South Africa Meal Kit Delivery Services Market, By Service, 2019-2030 (USD Billion)
90. South Africa Meal Kit Delivery Services Market, By Meal Type, 2019-2030 (USD Billion)
List of Figures
1. Global Meal Kit Delivery Services Market Segmentation
2. Meal Kit Delivery Services 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 Meal Kit Delivery Services Market Attractiveness Analysis by Offering
9. Global Meal Kit Delivery Services Market Attractiveness Analysis by Distribution Channel
10. Global Meal Kit Delivery Services Market Attractiveness Analysis by Service
11. Global Meal Kit Delivery Services Market Attractiveness Analysis by Meal Type
12. Global Meal Kit Delivery Services Market Attractiveness Analysis by Region
13. Global Meal Kit Delivery Services Market: Dynamics
14. Global Meal Kit Delivery Services Market Share by Offering (2022 & 2030)
15. Global Meal Kit Delivery Services Market Share by Distribution Channel (2022 & 2030)
16. Global Meal Kit Delivery Services Market Share by Service (2022 & 2030)
17. Global Meal Kit Delivery Services Market Share by Meal Type (2022 & 2030)
18. Global Meal Kit Delivery Services Market Share by Regions (2022 & 2030)
19. Global Meal Kit Delivery Services Market Share by Company (2021)
Segments Covered in the Report
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:
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:
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:
The demand side for the market is estimated through:
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:
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:
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:
Moreover, we always validate our data and findings through primary respondents from all the major regions we are working on.
Free Customization
Fortune 500 Clients
Free Yearly Update On Purchase Of Multi/Corporate License
Companies Served Till Date
