Packaged Salad Market

Packaged Salad Market Size By Type (Vegetarian, Vegan, Non-vegetarian), Product (Packaged Green, Packaged Kits), Source (Conventional, Organic), Distribution Channel (Online, Offline), Regions, Global Industry Analysis, Share, Growth, Trends, and Forecast 2024 to 2033

Base Year: 2023 Historical Data: 2020-22
  • Report ID: TBI-13090
  • Published Date: Sep, 2024
  • Pages: 236
  • Category: Consumer Goods
  • Format: PDF
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The packaged salad market was valued at USD 14.22 billion in 2023 and is expected to reach USD 35.24 billion by 2033, expanding at a CAGR of 9.5% from 2024 to 2033. The market is driven by the increasing adoption of salad among consumers owing to rising concern for health. Further, the increasing availability of products in various combinations, such as veggies and eggs, veggies and meat or seafood, along with additional sauces and toppings has increased the popularity of salads. Packaged salad gives the consumer the convenience of eating comfortably and saves time. It is a healthy food for consumers that can be prepared without any dictation. Also, due to technological advancements, the freshness of the salad remains intact, and the customer gets only fresh salad.

Further, over the past few years, the demand for vegan and plant-based diets have seen a sudden rise owing to the growing concern for animal and the environment. Consumers have been shifting to healthy food that provides essential nutrients such as protein, vitamins, and minerals. Salads are one of the perfect food for health-conscious consumers, as these are packed with nutritional content and easy to digest, and good for immunity building.  When the packaged salad is prepared, its quality is completely handled. This gives the customer the satisfaction of eating fresh and the right product. Packaged salad also gets the support of celebrity influence. Manufacturers get their products promoted by celebrities so that customers can easily trust the product.

Packaged Salad Market Size

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The demand for vegan salads is significantly growing owing to the rising vegan population across the world. Further, increasing food intolerance and allergies towards seafood and certain vegetables are expected to boost the demand for vegan salad in the coming years. Some of the popular vegan salad brands include

Non-vegetarian packaged salads are also widely popular among consumers looking for a protein-rich diet. Seafood salads are becoming one of the most preferred choices among sportspersons owing to their high nutritional value. Seafood salads such as ready-mixed tuna salad or salmon salad have seen a rise in recent years, owing to increased knowledge about the high protein content in seafood compared to poultry and red meat.

Type Insights

Vegetarian salads dominated the market and held a share of over 50% in 2023. The growth of the segment is attributed to the rising preference of consumers to opt for a vegetarian diet, which is full of fresh veggies and fruits, that are rich in vitamins, minerals, and antioxidants. With the increasing demand for vegetarian packaged salads, multiple brands have been offering a wide range of vegetarian packaged salads with organic vegetables and ingredients that aid in providing a complete diet to consumers.

Vegan salads are anticipated to expand at the fastest CAGR during the forecast period. The rising focus of consumers on vegan or plant-based diets owing to rising health consciousness is anticipated to drive this segment. According to retail sales data released in March 2020 by SPINS, the grocery sales of plant-based foods in the US reached approximately USD 5 billion in 2019, increasing by 29% since 2017.

Product Insights

Packaged green dominated the market and held a share of around 60% in 2023. Packaged green salads are witnessing high growth as consumers have started including more greens in their diet owing to healthy eating trends and the availability of a variety of flavors. Some of the players offering these products include Earthbound Farm, Misionero, Fresh Express, BrightFarms, Dole Food Company, Incorporated, and Gotham Greens.

Packaged kits are anticipated to expand at a faster CAGR during the forecast period from 2024-2033. Conventional style cooking is time and effort intensive, thus, a large number of consumers are switching to packaged kits. Further, market players have been expanding their offerings in chopped salad kits owing to the growing demand for a diet that comprises fresh fruits and vegetables. For instance, Dole, a world-renowned packaged salad and salad kit producer, offers nearly 68 packaged salad varieties, including its popular chopped and premium salad kit lines, and around 15 ready-to-eat bowl salads, among others.

Source Insights

Conventional salad dominated the market and held a share of 66.4% in 2023. Consumers choose conventional salad over organic salad as they are cheaper. Further, conventional salads are widely available across major grocery stores and convenience stores. The most common type of conventional salads includes lettuce, chicken & ham, sweet kale, Caesar salad, avocado mix, and others.

Organic salads are anticipated to expand at a faster CAGR during the forecast period from 2024-2033 owing to growing consumer awareness about the benefits of organically grown produce, such as free-of chemicals. The organically processed packaged salads are duly certified by a constituted authority or body. Requirements for organically processed packaged salads differ from synthetically processed products. The Organic packaged salad should have an organic label from USDA (The United States Department of Agriculture) to qualify for organic standards in the US.

Distribution Channel Insights

Offline distribution channel led the market with a share of more than 75% in 2023. A large number of consumers prefer to purchase packaged salad through supermarkets & hypermarkets as a lot of varieties are available there, even organic kits. Packaged salads are also available in discount stores, convenience stores, and dollar stores.

The online distribution channel is anticipated to expand with a higher CAGR of 9.8% from 2024-2033. The online distribution of packaged salad market is niche owing to concern regarding the freshness of salads. However, shifting consumer preference towards online shopping due to its benefits such as doorstep delivery, subscription model, easy exchange & return, also persuade consumers to shop packaged salads through an e-commerce platform.

Regional Insights

North America accounted for the highest share of over 38% of the market in 2023. The growing demand for healthy food products is driving the demand for packaged salad in this region. Further, health-conscious consumers and people who are suffering from obesity are also opting for the packaged salad to reduce their weight. Further, the busy lifestyle of consumers in the US and Canada also influences consumers to purchase packaged salads.

North America Region Packaged Salad Market Share in 2023 - 38%

 

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Asia Pacific is anticipated to register the fastest growth during the forecast period. The growth of the packaged salads market in this region can be attributed to the rising popularity of salads among millennials and Gen Z. Further, over the past few years, consumers’ food preferences have been gradually shifting toward diets, which include leafy vegetables as these are an excellent source of fiber, minerals, vitamins, and proteins.

Millennials in particular are immensely conscious when it comes to food trends and want to consume products that are good for their health. They also pay more attention to concepts such as sustainability and their impact on the environment, which is further promoting the consumption of organic salads in countries like China, Australia, South Korea, and India.

Key Companies
  • BrightFarms, Inc.
  • Bonduelle
  • Dole Food Company, Inc.
  • Misionero
  • Gotham Greens Holdings, LLC
  • Mann Packing Co., Inc
  • VegPro International Inc.
  • organicgirl
  • Earthbound Farm
  • Eat Smart (Curation Foods)
  • Fresh Express, Incorporated
  • Natures Way Foods Ltd. 

Segments Covered in the Report

  • Type
    • Vegetarian
    • Vegan
    • Non-vegetarian
  • Product
    • Packaged Green
    • Packaged Kits
  • Source
    • Conventional
    • Organic
  • Distribution Channel
    • Online
    • Offline
  • Regional
    • North America
      • US
      • Canada
    • Europe
      • UK
      • Germany
      • France
      • Italy
      • Spain
    • Asia Pacific
      • China
      • Japan
      • South Korea
      • Australia
    • Central and South America
      • Brazil
    • Middle East and Africa
      • South Africa
      • UAE

Frequesntly Asked Questions

As per The Brainy Insights, the size of the packaged salad market was valued at USD 14.22 billion in 2023 to USD 35.24 billion by 2033.

Global packaged salad market is growing at a CAGR of 9.5% during the forecast period 2024-2033.

The North America region emerged as the largest market for the packaged salad.

Increasing adoption of salad among consumers is the key driving factor for the packaged salad market.

The loss of essential nutrients during the processing could hamper the market growth.

Rising Demand for demand for vegan and plant-based diets will provide huge opportunities to the market.

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 Product
          4.3.3. Market Attractiveness Analysis by Source
          4.3.4. Market Attractiveness Analysis by Distribution Channel
          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. Increasing adoption of salad among consumers
    5.3. Restraints
          5.3.1. Loss of Essential Nutrients during the Processing
    5.4. Opportunities
          5.4.1. Rising Demand for demand for vegan and plant-based diets

6. Global Packaged Salad Market Analysis and Forecast, By Type
    6.1. Segment Overview
    6.2. Vegetarian
    6.3. Vegan
    6.4. Non-vegetarian

7. Global Packaged Salad Market Analysis and Forecast, By Product
    7.1. Segment Overview
    7.2. Packaged Green
    7.3. Packaged Kits

8. Global Packaged Salad Market Analysis and Forecast, By Source
    8.1. Segment Overview
    8.2. Conventional
    8.3. Organic

9. Global Packaged Salad Market Analysis and Forecast, By Distribution Channel
    9.1. Segment Overview
    9.2. Online
    9.3. Offline

10. Global Packaged Salad 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 Packaged Salad Market-Competitive Landscape
    11.1. Overview
    11.2. Market Share of Key Players in the Packaged Salad 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. BrightFarms, Inc.
          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. Bonduelle
          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. Dole Food Company, Inc.
          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. Misionero
          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. Gotham Greens Holdings, LLC
          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. Mann Packing Co., Inc
          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. VegPro International Inc.
          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. organicgirl
          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. Earthbound Farm
          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. Eat Smart (Curation Foods)
          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. Fresh Express, Incorporated
          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. Natures Way Foods Ltd.
          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 Packaged Salad Market, By Type, 2020-2033 (USD Billion) 

2. Global Vegetarian Packaged Salad Market, By Region, 2020-2033 (USD Billion) 

3. Global Vegan Packaged Salad Market, By Region, 2020-2033 (USD Billion) 

4. Global Non-vegetarian Packaged Salad Market, By Region, 2020-2033 (USD Billion) 

5. Global Packaged Salad Market, By Product, 2020-2033 (USD Billion) 

6. Global Packaged Green Packaged Salad Market, By Region, 2020-2033 (USD Billion) 

7. Global Packaged Kits Packaged Salad Market, By Region, 2020-2033 (USD Billion) 

8. Global Packaged Salad Market, By Source, 2020-2033 (USD Billion) 

9. Global Conventional Packaged Salad Market, By Region, 2020-2033 (USD Billion) 

10. Global Organic Packaged Salad Market, By Region, 2020-2033 (USD Billion) 

11. Global Packaged Salad Market, By Distribution Channel, 2020-2033 (USD Billion) 

12. Global Online Packaged Salad Market, By Region, 2020-2033 (USD Billion) 

13. Global Offline Packaged Salad Market, By Region, 2020-2033 (USD Billion) 

14. Global Packaged Salad Market, By Region, 2020-2033 (USD Billion) 

15. North America Packaged Salad Market, By Type, 2020-2033 (USD Billion) 

16. North America Packaged Salad Market, By Product, 2020-2033 (USD Billion) 

17. North America Packaged Salad Market, By Source, 2020-2033 (USD Billion) 

18. North America Packaged Salad Market, By Distribution Channel, 2020-2033 (USD Billion) 

19. U.S. Packaged Salad Market, By Type, 2020-2033 (USD Billion) 

20. U.S. Packaged Salad Market, By Product, 2020-2033 (USD Billion) 

21. U.S. Packaged Salad Market, By Source, 2020-2033 (USD Billion) 

22. U.S. Packaged Salad Market, By Distribution Channel, 2020-2033 (USD Billion) 

23. Canada Packaged Salad Market, By Type, 2020-2033 (USD Billion) 

24. Canada Packaged Salad Market, By Product, 2020-2033 (USD Billion) 

25. Canada Packaged Salad Market, By Source, 2020-2033 (USD Billion) 

26. Canada Packaged Salad Market, By Distribution Channel, 2020-2033 (USD Billion) 

27. Mexico Packaged Salad Market, By Type, 2020-2033 (USD Billion) 

28. Mexico Packaged Salad Market, By Product, 2020-2033 (USD Billion) 

29. Mexico Packaged Salad Market, By Source, 2020-2033 (USD Billion) 

30. Mexico Packaged Salad Market, By Distribution Channel, 2020-2033 (USD Billion) 

31. Europe Packaged Salad Market, By Type, 2020-2033 (USD Billion) 

32. Europe Packaged Salad Market, By Product, 2020-2033 (USD Billion) 

33. Europe Packaged Salad Market, By Source, 2020-2033 (USD Billion) 

34. Europe Packaged Salad Market, By Distribution Channel, 2020-2033 (USD Billion) 

35. Germany Packaged Salad Market, By Type, 2020-2033 (USD Billion) 

36. Germany Packaged Salad Market, By Product, 2020-2033 (USD Billion) 

37. Germany Packaged Salad Market, By Source, 2020-2033 (USD Billion) 

38. Germany Packaged Salad Market, By Distribution Channel, 2020-2033 (USD Billion) 

39. France Packaged Salad Market, By Type, 2020-2033 (USD Billion) 

40. France Packaged Salad Market, By Product, 2020-2033 (USD Billion) 

41. France Packaged Salad Market, By Source, 2020-2033 (USD Billion) 

42. France Packaged Salad Market, By Distribution Channel, 2020-2033 (USD Billion) 

43. U.K. Packaged Salad Market, By Type, 2020-2033 (USD Billion) 

44. U.K. Packaged Salad Market, By Product, 2020-2033 (USD Billion) 

45. U.K. Packaged Salad Market, By Source, 2020-2033 (USD Billion) 

46. U.K. Packaged Salad Market, By Distribution Channel, 2020-2033 (USD Billion) 

47. Italy Packaged Salad Market, By Type, 2020-2033 (USD Billion) 

48. Italy Packaged Salad Market, By Product, 2020-2033 (USD Billion) 

49. Italy Packaged Salad Market, By Source, 2020-2033 (USD Billion) 

50. Italy Packaged Salad Market, By Distribution Channel, 2020-2033 (USD Billion) 

51. Spain Packaged Salad Market, By Type, 2020-2033 (USD Billion) 

52. Spain Packaged Salad Market, By Product, 2020-2033 (USD Billion) 

53. Spain Packaged Salad Market, By Source, 2020-2033 (USD Billion) 

54. Spain Packaged Salad Market, By Distribution Channel, 2020-2033 (USD Billion) 

55. Asia Pacific Packaged Salad Market, By Type, 2020-2033 (USD Billion) 

56. Asia Pacific Packaged Salad Market, By Product, 2020-2033 (USD Billion) 

57. Asia Pacific Packaged Salad Market, By Source, 2020-2033 (USD Billion)

58. Asia Pacific Packaged Salad Market, By Distribution Channel, 2020-2033 (USD Billion) 

59. Japan Packaged Salad Market, By Type, 2020-2033 (USD Billion) 

60. Japan Packaged Salad Market, By Product, 2020-2033 (USD Billion) 

61. Japan Packaged Salad Market, By Source, 2020-2033 (USD Billion) 

62. Japan Packaged Salad Market, By Distribution Channel, 2020-2033 (USD Billion)

63. China Packaged Salad Market, By Type, 2020-2033 (USD Billion) 

64. China Packaged Salad Market, By Product, 2020-2033 (USD Billion) 

65. China Packaged Salad Market, By Source, 2020-2033 (USD Billion) 

66. China Packaged Salad Market, By Distribution Channel, 2020-2033 (USD Billion) 

67. India Packaged Salad Market, By Type, 2020-2033 (USD Billion) 

68. India Packaged Salad Market, By Product, 2020-2033 (USD Billion) 

69. India Packaged Salad Market, By Source, 2020-2033 (USD Billion) 

70. India Packaged Salad Market, By Distribution Channel, 2020-2033 (USD Billion) 

71. South America Packaged Salad Market, By Type, 2020-2033 (USD Billion) 

72. South America Packaged Salad Market, By Product, 2020-2033 (USD Billion) 

73. South America Packaged Salad Market, By Source, 2020-2033 (USD Billion) 

74. South America Packaged Salad Market, By Distribution Channel, 2020-2033 (USD Billion) 

75. Brazil Packaged Salad Market, By Type, 2020-2033 (USD Billion) 

76. Brazil Packaged Salad Market, By Product, 2020-2033 (USD Billion) 

77. Brazil Packaged Salad Market, By Source, 2020-2033 (USD Billion) 

78. Brazil Packaged Salad Market, By Distribution Channel, 2020-2033 (USD Billion) 

79. Middle East and Africa Packaged Salad Market, By Type, 2020-2033 (USD Billion) 

80. Middle East and Africa Packaged Salad Market, By Product, 2020-2033 (USD Billion) 

81. Middle East and Africa Packaged Salad Market, By Source, 2020-2033 (USD Billion) 

82. Middle East and Africa Packaged Salad Market, By Distribution Channel, 2020-2033 (USD Billion) 

83. UAE Packaged Salad Market, By Type, 2020-2033 (USD Billion) 

84. UAE Packaged Salad Market, By Product, 2020-2033 (USD Billion) 

85. UAE Packaged Salad Market, By Source, 2020-2033 (USD Billion) 

86. UAE Packaged Salad Market, By Distribution Channel, 2020-2033 (USD Billion) 

87. South Africa Packaged Salad Market, By Type, 2020-2033 (USD Billion) 

88. South Africa Packaged Salad Market, By Product, 2020-2033 (USD Billion) 

89. South Africa Packaged Salad Market, By Source, 2020-2033 (USD Billion) 

90. South Africa Packaged Salad Market, By Distribution Channel, 2020-2033 (USD Billion) 

List of Figures 

1. Global Packaged Salad Market Segmentation

2. Packaged Salad 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 Packaged Salad Market Attractiveness Analysis by Type

9. Global Packaged Salad Market Attractiveness Analysis by Product

10. Global Packaged Salad Market Attractiveness Analysis by Source

11. Global Packaged Salad Market Attractiveness Analysis by Distribution Channel

12. Global Packaged Salad Market Attractiveness Analysis by Region

13. Global Packaged Salad Market: Dynamics

14. Global Packaged Salad Market Share by Type (2023 & 2033)

15. Global Packaged Salad Market Share by Product (2023 & 2033)

16. Global Packaged Salad Market Share by Source (2023 & 2033)

17. Global Packaged Salad Market Share by Distribution Channel (2023 & 2033)

18. Global Packaged Salad Market Share by Regions (2023 & 2033)

19. Global Packaged Salad 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 packaged salad market based on below-mentioned segments:

Global Packaged Salad Market by Type:

  • Vegetarian
  • Vegan
  • Non-vegetarian

Global Packaged Salad Market by Product:

  • Packaged Green
  • Packaged Kits

Global Packaged Salad Market by Source:

  • Conventional
  • Organic

Global Packaged Salad Market by Distribution Channel:

  • Online
  • Offline

Global Packaged Salad 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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