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Pet meal kit delivery Market

Pet meal kit delivery Market Size by Product Type (Ready-to-eat Food, Reprocessed Food, Other), Animal (Dogs, Cats, Birds, Fishes, Others), Application (Residential, Commercial), Regions, Global Industry Analysis, Share, Growth, Trends, and Forecast 2024 to 2033

Base Year: 2023 Historical Data: 2020-22
  • Report ID: TBI-12608
  • Published Date: Oct, 2024
  • Pages: 234
  • Category: Food & Beverages
  • Format: PDF
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Global pet meal kit delivery market is expected to reach USD 12.44 billion by 2033, at a CAGR of 14% from 2024 to 2033. The global pet meal kit delivery market is rapidly expanding as a result of increased empathy for pets, which is leading to increased adoption. Pet meal kit delivery saves pet owners time. This saves the time that the pet owner takes to plan and prepare the meal, which helps busy pet owners a lot. This kit can also take care of the pet's health and nutrition. Pet meal kit delivery can be customized according to the pet.

Market Overview:

Pet food is food that is specially prepared and intended for consumption by pets. It can be plant-based or animal-based. A meal kit is a subscription-based service that sends a box to the consumer with pre-portioned ingredient items for the recipe in the kit. All that's left is to combine the ingredients, cook them, and serve them. Chopping, slicing, and other prep activities are required for some meal packages. Special diets can be planned and designed using pet meal kit delivery. This allows every pet to be given nutrients according to its needs and improves its growth. Pet meal kit delivery is very hygienic, and the risk of contamination is greatly reduced. Many types of meals can be given to the pet so that they can taste food of many flavors.

Pet meal kit delivery Market Size

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Market Dynamics:

Drivers
  • The Humanization of Pets is a Growing Trend

Pet humanization has gotten a lot of attention in the mainstream media throughout the world. In the pet food industry, the change from pet ownership to pet parenting has been a significant and defining trend, particularly in developed countries. In developed countries, more than one-third of families have a pet. According to the American Pet Products Association's (APPA) National Pet Owners Survey (2019-20), more than 85 million homes in the United States had one or more pets on pet food products across these economies, coupled with increased investment by global market players within these economies, the majority of which were dogs. As a result, rising pet humanization is expected to fuel the pet meal kit delivery market.

  • Benefits of pet meal kit delivery

Pet meal kit delivery services are an excellent option because meal preparation ahead of time reduces food waste dramatically. Because each portion is pre-measured, meal kits contain components in the exact quantity needed to cook a meal. Although some company offers larger amounts, they still provide calorie counts and nutritional information based on those portions.

Restraints:
  • Food safety

Food safety, as well as high raw material and production costs may restrain the market growth. Pet allergies, as well as regulatory issues relating to pet health and nutrition, are additional factors which may hamper the market growth.

Opportunities:
  • Increasing urbanization

The global pet meal kit delivery market is forecasted to witness growth due to a variety of factors, including an increase in the number of nuclear families, urbanization, and changing attitudes toward pets. According to a news published in 2019, key leaders have predicted that nations such as India and China will see increasing dog adoption in the next years as a result of changing lifestyles and increased awareness of dog’s companionship.

Challenges:
  • Obesity

Obesity in dogs is on the rise as a result of overeating and insufficient exercise, creating a problem in manufacturing foods that reduce the impact of overeating on pets. Thus, challenging the pet meal kit delivery market growth.

Segmentation Analysis:

The global pet meal kit delivery market has been segmented based on product type, animal, application, and regions.

  • The product type segment is divided into ready-to-eat food, reprocessed food and other. The reprocessed food segment dominated the pet meal kit delivery market with a market share of around 58% in 2023.
  • The animal segment is divided into dogs, cats, birds, fishes and others. The dogs segment dominated the pet meal kit delivery market with a market share of around 48% in 2023. Dogs are widely adopted as pets around the world, which is one of the main reasons for their dominance in the market. More dogs and cats are being adopted all around the world as a result of animal humanization. The demand for natural and higher-quality dog food is being driven by significant expenditures associated with dog maintenance and well-being. Another important factor contributing to the segment's growth is the introduction of dog treats, pet nutrition, and nutrition-rich food. Cat ownership is predicted to grow at a rapid rate in the next years, because cats are low-maintenance and human-friendly creatures.
  • The application segment includes residential and commercial. The commercial segment dominated the market growth in around 57% in 2023.
Regional Segmentation Analysis:

The regions analyzed for the market include North America, Europe, South America, Asia Pacific, and the Middle East and Africa. North America region emerged as the largest market for the global pet meal kit delivery market with a 41.0% share of the market revenue in 2023.

North America Region Pet meal kit delivery Market Share in 2023 - 41.0%

 

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  • In recent years, the foodservice industry in the United States and Canada has experienced significant growth. In the region, many people buy pet kits to save time and effort. Pet kits have evolved into a healthier and more affordable alternative to pre-cooked foods found in retail stores.
  • Asia Pacific regional market is projected to register the highest growth. Following Asia Pacific, South America is predicted to be the fastest-growing region in the global market. Japan, Australia, and China are the most important revenue generators in the Asia Pacific. Although Japan is one of the world's largest importers of ready-to-eat dog and cat food, the country's pet animal food sector is growing slowly. The market in China and India is predicted to grow at a substantial rate during the forecast period, owing to rising consumer spending on pet food products in these countries, as well as increased investment by global industry participants in these nations.
Competitive Analysis:

The key players are now concentrating on implementing strategies such as adopting new technology, product innovations, mergers & acquisitions, joint venture, alliances and partnerships to improve their market position in the global pet meal kit delivery industry.

List of Key Market Players:
  • Spot and Tango
  • Nom Nom
  • Pet Plate
  • The Farmer's Dog
  • Chewy
  • Ollie
  • We Feed Raw
  • Chi Dog
  • PetPlate
Key Target Audience
  • Pet food manufacturers
  • End-users
  • Investors
  • Government Authorities and R&D Institutions
  • Food and Drug Administration

Report Description:

  • Global Pet meal kit delivery Market, Industry Analysis, Trends, Analysis and Forecast, 2024 to 2033 is a forthcoming/imminent research report which is to be published by The Brainy Insights.
  • 2023 is considered as the base year of the report. 2020 to 2022 are considered as the historic years and 2024 to 2033 are the forecast years. The global pet meal kit delivery market is based on revenue (USD Billion), volume (Units) and price. The report incorporates the market study on the basis of revenue, and volume. The study covers the market share revenue/market share/volume for each of the segments, regions and countries catering to global pet meal kit delivery market. The regions analyzed for the market are Europe, Asia Pacific, North America, South America and Middle East & Africa. Furthermore, the regions are further analyzed at the country level.
  • The report encompasses with the relative data & information, which have been validated by the leading industry professionals and experts all across the globe. The research report also delivers an outline of the attractiveness of pet meal kit delivery market based on product type, animal, application and regions which are deduced and formulated based on their growth rate (CAGR), market size, and attractiveness by analyzing the present and future prospects to fathom market growth and development in future.
  • The report illustrates the detailed (both quantitative and qualitative) analysis of historical data, revenues, key developments, along with the crucial strategies adopted by key organizations catering to global pet meal kit delivery market. This offers vital and in depth insights in order to depict the overall market scenario.
  • The report offers the detailed study for the company profiles of key organizations operating in the global pet meal kit delivery market and a comparative assessment based on their product offering, business overviews, geographic presence, business strategies, segment market share, product development & innovations, recent developments, joint venture, partnerships, mergers & acquisitions, strategic alliances, SWOT analysis, and key financial information. This helps in evaluating the overall competition present in the market scenario.
  • The report provides an elaborative assessment of the porter’s five forces analysis coupled with SWOT analysis so as to provide business related data and information’s. Porter’s five forces model is analyzed to understand the overall competitive scenario that is prevailing in the market. Additionally, the SWOT analysis identifies both the positive and negative attributes of the market development which influences the company growth and development in order to sustain and survive in the long run.
  • Along with that, the report also focuses on the market related driving factors, growth limitations (restraints), potential industry opportunities, significant trends and development which acts as a key potential for the investors.
  • Potential growth prospects along with the penetration rate analysis of the products (market related i.e., global pet meal kit delivery market) is covered in order to comprehend the adoption rate and evaluate the market size. 

Frequesntly Asked Questions

As per the brainy insights, the size of the pet meal kit delivery market was valued at USD 3.4 billion in 2023 and is expected to grow to USD 12.44 billion by 2033.

Global pet meal kit delivery market is growing at a CAGR of 14% during the forecast period 2024-2033.

The global pet meal kit delivery market has been segmented based on product type, animal, application, and regions. The reprocessed segment led the product type segment. The dogs segment led the animal segment.

North America region emerged as the largest market for the global pet meal kit delivery market.

The Humanization of pets is the key driving factor for the pet meal kit delivery market.

Food safety may hamper the market growth.

Increasing urbanization will provide huge opportunities in future.

Key players are Spot and Tango, Nom Nom, Pet Plate, The Farmer's Dog, Chewy, Ollie, We Feed Raw, Chi Dog and PetPlate and others.

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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 Product Type
          4.3.2. Market Attractiveness Analysis By Animal
          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. The Humanization of Pets is a Growing Trend
          5.2.2. Benefits of Pet Meal Kit Delivery
    5.3. Restraints
          5.3.1. Food safety
    5.4. Opportunities
          5.4.1. Increasing urbanization
    5.5. Challenges
          5.5.1. Obesity

6. Global Pet Meal Kit Delivery Market Analysis and Forecast, By Product Type
    6.1. Segment Overview
    6.2. Ready-to-eat
    6.3. Reprocessed Food
    6.4. Other

7. Global Pet Meal Kit Delivery Market Analysis and Forecast, By Animal
    7.1. Segment Overview
    7.2. Dogs
    7.3. Cats
    7.4. Birds
    7.5. Fishes
    7.6. Others

8. Global Pet Meal Kit Delivery Market Analysis and Forecast, By Application
    8.1. Segment Overview
    8.2. Residential
    8.3. Commercial

9. Global Pet Meal Kit Delivery 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 Pet Meal Kit Delivery Market-Competitive Landscape
    10.1. Overview
    10.2. Market Share of Key Players in the Pet Meal Kit Delivery 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. APAC Company Market Share
    10.3. Competitive Situations and Trends
          10.3.1. Product Launches and Developments
          10.3.2. Partnerships, Collaborations, and Agreements
          10.3.3. Mergers & Acquisitions
          10.3.4. Expansions

11. Company Profiles
    11.1. Spot and Tango
          11.1.1. Business Overview
          11.1.2. Company Snapshot
          11.1.3. Company Market Share Analysis
          11.1.4. Company Component Portfolio
          11.1.5. Recent Developments
          11.1.6. SWOT Analysis
    11.2. Nom Nom
          11.2.1. Business Overview
          11.2.2. Company Snapshot
          11.2.3. Company Market Share Analysis
          11.2.4. Company Component Portfolio
          11.2.5. Recent Developments
          11.2.6. SWOT Analysis
    11.3. Pet Plate
          11.3.1. Business Overview
          11.3.2. Company Snapshot
          11.3.3. Company Market Share Analysis
          11.3.4. Company Component Portfolio
          11.3.5. Recent Developments
          11.3.6. SWOT Analysis
    11.4. The Farmer's Dog
          11.4.1. Business Overview
          11.4.2. Company Snapshot
          11.4.3. Company Market Share Analysis
          11.4.4. Company Component Portfolio
          11.4.5. Recent Developments
          11.4.6. SWOT Analysis
    11.5. Chewy
          11.5.1. Business Overview
          11.5.2. Company Snapshot
          11.5.3. Company Market Share Analysis
          11.5.4. Company Component Portfolio
          11.5.5. Recent Developments
          11.5.6. SWOT Analysis
    11.6. Ollie
          11.6.1. Business Overview
          11.6.2. Company Snapshot
          11.6.3. Company Market Share Analysis
          11.6.4. Company Component Portfolio
          11.6.5. Recent Developments
          11.6.6. SWOT Analysis
    11.7. We Feed Raw
          11.7.1. Business Overview
          11.7.2. Company Snapshot
          11.7.3. Company Market Share Analysis
          11.7.4. Company Component Portfolio
          11.7.5. Recent Developments
          11.7.6. SWOT Analysis
    11.8. Chi Dog
          11.8.1. Business Overview
          11.8.2. Company Snapshot
          11.8.3. Company Market Share Analysis
          11.8.4. Company Component Portfolio
          11.8.5. Recent Developments
          11.8.6. SWOT Analysis
    11.9. PetPlate
          11.9.1. Business Overview
          11.9.2. Company Snapshot
          11.9.3. Company Market Share Analysis
          11.9.4. Company Component Portfolio
          11.9.5. Recent Developments
          11.9.6. SWOT Analysis

List of Table

1. Global Pet Meal Kit Delivery Market, By Product Type, 2020-2033 (USD Billion) (Units)

2. Global Ready-to-eat Pet Meal Kit Delivery Market, By Region, 2020-2033 (USD Billion) (Units)

3. Global Reprocessed Food Pet Meal Kit Delivery Market, By Region, 2020-2033 (USD Billion) (Units)

4. Global Other Pet Meal Kit Delivery Market, By Region, 2020-2033 (USD Billion) (Units)

5. Global Pet Meal Kit Delivery Market, By Animal, 2020-2033 (USD Billion) (Units)

6. Global Dogs Pet Meal Kit Delivery Market, By Region, 2020-2033 (USD Billion) (Units)

7. Global Cats Food Pet Meal Kit Delivery Market, By Region, 2020-2033 (USD Billion) (Units)

8. Global Birds Food Pet Meal Kit Delivery Market, By Region, 2020-2033 (USD Billion) (Units)

9. Global Fishes Food Pet Meal Kit Delivery Market, By Region, 2020-2033 (USD Billion) (Units)

10. Global Other Pet Meal Kit Delivery Market, By Region, 2020-2033 (USD Billion) (Units)

11. Global Pet Meal Kit Delivery Market, By Application, 2020-2033 (USD Billion) (Units)

12. Global Residential Pet Meal Kit Delivery Market, By Region, 2020-2033 (USD Billion) (Units)

13. Global Commercial Pet Meal Kit Delivery Market, By Region, 2020-2033 (USD Billion) (Units)

14. Global Pet Meal Kit Delivery Market, By Region, 2020-2033 (USD Billion) (Units)

15. North America Pet Meal Kit Delivery Market, By Product Type, 2020-2033 (USD Billion) (Units)

16. North America Pet Meal Kit Delivery Market, By Animal, 2020-2033 (USD Billion) (Units)

17. North America Pet Meal Kit Delivery Market, By Application, 2020-2033 (USD Billion) (Units)

18. U.S. Pet Meal Kit Delivery Market, By Product Type, 2020-2033 (USD Billion) (Units)

19. U.S. Pet Meal Kit Delivery Market, By Animal, 2020-2033 (USD Billion) (Units)

20. U.S. Pet Meal Kit Delivery Market, By Application, 2020-2033 (USD Billion) (Units)

21. Canada Pet Meal Kit Delivery Market, By Product Type, 2020-2033 (USD Billion) (Units)

22. Canada Pet Meal Kit Delivery Market, By Animal, 2020-2033 (USD Billion) (Units)

23. Canada Pet Meal Kit Delivery Market, By Application, 2020-2033 (USD Billion) (Units)

24. Mexico Pet Meal Kit Delivery Market, By Product Type, 2020-2033 (USD Billion) (Units)

25. Mexico Pet Meal Kit Delivery Market, By Animal, 2020-2033 (USD Billion) (Units)

26. Mexico Pet Meal Kit Delivery Market, By Application, 2020-2033 (USD Billion) (Units)

27. Europe Pet Meal Kit Delivery Market, By Product Type, 2020-2033 (USD Billion) (Units)

28. Europe Pet Meal Kit Delivery Market, By Animal, 2020-2033 (USD Billion) (Units)

29. Europe Pet Meal Kit Delivery Market, By Application, 2020-2033 (USD Billion) (Units)

30. Germany Pet Meal Kit Delivery Market, By Product Type, 2020-2033 (USD Billion) (Units)

31. Germany Pet Meal Kit Delivery Market, By Animal, 2020-2033 (USD Billion) (Units)

32. Germany Pet Meal Kit Delivery Market, By Application, 2020-2033 (USD Billion) (Units)

33. France Pet Meal Kit Delivery Market, By Product Type, 2020-2033 (USD Billion) (Units)

34. France Pet Meal Kit Delivery Market, By Animal, 2020-2033 (USD Billion) (Units)

35. France Pet Meal Kit Delivery Market, By Application, 2020-2033 (USD Billion) (Units)

36. U.K. Pet Meal Kit Delivery Market, By Product Type, 2020-2033 (USD Billion) (Units)

37. U.K. Pet Meal Kit Delivery Market, By Animal, 2020-2033 (USD Billion) (Units)

38. U.K. Pet Meal Kit Delivery Market, By Application, 2020-2033 (USD Billion) (Units)

39. Italy Pet Meal Kit Delivery Market, By Product Type, 2020-2033 (USD Billion) (Units)

40. Italy Pet Meal Kit Delivery Market, By Animal, 2020-2033 (USD Billion) (Units)

41. Italy Pet Meal Kit Delivery Market, By Application, 2020-2033 (USD Billion) (Units)

42. Spain Pet Meal Kit Delivery Market, By Product Type, 2020-2033 (USD Billion) (Units)

43. Spain Pet Meal Kit Delivery Market, By Animal, 2020-2033 (USD Billion) (Units)

44. Spain Pet Meal Kit Delivery Market, By Application, 2020-2033 (USD Billion) (Units)

45. Asia Pacific Pet Meal Kit Delivery Market, By Product Type, 2020-2033 (USD Billion) (Units)

46. Asia Pacific Pet Meal Kit Delivery Market, By Animal, 2020-2033 (USD Billion) (Units)

47. Asia Pacific Pet Meal Kit Delivery Market, By Application, 2020-2033 (USD Billion) (Units)

48. Japan Pet Meal Kit Delivery Market, By Product Type, 2020-2033 (USD Billion) (Units)

49. Japan Pet Meal Kit Delivery Market, By Animal, 2020-2033 (USD Billion) (Units)

50. Japan Pet Meal Kit Delivery Market, By Application, 2020-2033 (USD Billion) (Units)

51. China Pet Meal Kit Delivery Market, By Product Type, 2020-2033 (USD Billion) (Units)

52. China Pet Meal Kit Delivery Market, By Animal, 2020-2033 (USD Billion) (Units)

53. China Pet Meal Kit Delivery Market, By Application, 2020-2033 (USD Billion) (Units)

54. India Pet Meal Kit Delivery Market, By Product Type, 2020-2033 (USD Billion) (Units)

55. India Pet Meal Kit Delivery Market, By Animal, 2020-2033 (USD Billion) (Units)

56. India Pet Meal Kit Delivery Market, By Application, 2020-2033 (USD Billion) (Units)

57. South America Pet Meal Kit Delivery Market, By Product Type, 2020-2033 (USD Billion) (Units)

58. South America Pet Meal Kit Delivery Market, By Animal, 2020-2033 (USD Billion) (Units)

59. South America Pet Meal Kit Delivery Market, By Application, 2020-2033 (USD Billion) (Units)

60. Brazil Pet Meal Kit Delivery Market, By Product Type, 2020-2033 (USD Billion) (Units)

61. Brazil Pet Meal Kit Delivery Market, By Animal, 2020-2033 (USD Billion) (Units)

62. Brazil Pet Meal Kit Delivery Market, By Application, 2020-2033 (USD Billion) (Units)

63. Middle East and Africa Pet Meal Kit Delivery Market, By Product Type, 2020-2033 (USD Billion) (Units)

64. Middle East and Africa Pet Meal Kit Delivery Market, By Animal, 2020-2033 (USD Billion) (Units)

65. Middle East and Africa Pet Meal Kit Delivery Market, By Application, 2020-2033 (USD Billion) (Units)

66. UAE Pet Meal Kit Delivery Market, By Product Type, 2020-2033 (USD Billion) (Units)

67. UAE Pet Meal Kit Delivery Market, By Animal, 2020-2033 (USD Billion) (Units)

68. UAE Pet Meal Kit Delivery Market, By Application, 2020-2033 (USD Billion) (Units)

69. South Africa Pet Meal Kit Delivery Market, By Product Type, 2020-2033 (USD Billion) (Units)

70. South Africa Pet Meal Kit Delivery Market, By Animal, 2020-2033 (USD Billion) (Units)

71. South Africa Pet Meal Kit Delivery Market, By Application, 2020-2033 (USD Billion) (Units)

List of Figures 

1. Global Pet Meal Kit Delivery Market Segmentation

2. Pet Meal Kit Delivery 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 Pet Meal Kit Delivery Market Attractiveness Analysis By Product Type

9. Global Pet Meal Kit Delivery Market Attractiveness Analysis By Animal

10. Global Pet Meal Kit Delivery Market Attractiveness Analysis By Application

11. Global Pet Meal Kit Delivery Market Attractiveness Analysis By Region

12. Global Pet Meal Kit Delivery Market: Dynamics

13. Global Pet Meal Kit Delivery Market Share by Product Type (2023 & 2033)

14. Global Pet Meal Kit Delivery Market Share by Animal (2023 & 2033)

15. Global Pet Meal Kit Delivery Market Share by Application (2023 & 2033)

16. Global Pet Meal Kit Delivery Market Share by Regions (2023 & 2033)

17. Global Pet Meal Kit Delivery 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 pet meal kit delivery market on the basis of below mentioned segments:

Global Pet Meal Kit Delivery Market by Product Type:

  • Ready-to-eat food
  • Reprocessed food
  • Other

Global Pet Meal Kit Delivery Market by Animal:

  • Dogs
  • Cats
  • Birds
  • Fishes
  • Others

Global Pet Meal Kit Delivery Market by Application:

  • Residential
  • Commercial

Global Pet Meal Kit Delivery 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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