Borage Seed Oil Market
Borage Seed Oil Market Forecasts to 2030 - Global Analysis By Type (Cosmetic Grade, Pharmaceutical Grade and Other Types), Extraction Method, Distribution Channel, Application, End User and By Geography
According to Stratistics MRC, the Global Borage Seed Oil Market is accounted for $3.69 billion in 2023 and is expected to reach $6.62 billion by 2030 growing at a CAGR of 8.7% during the forecast period. The seeds of the borago officinalis plant, often known as starflower, are used to make borage oil. The oil is well-known in the nutritional supplement business because it has a high amount of gamma linoleic acid (GLA). Borage oil also has several therapeutic benefits, including anti-inflammatory and anti-thrombotic activities; as a result, it is used to treat inflammatory conditions like arthritis, atopic eczema, and lung irritation. Due to its advantageous qualities for skin care, borage oil is additionally utilised in cosmetics.
According to a study Borage seed oil has been shown in a research to have anticancer effects.The primary phenolics in Borage, rosmarinic, syringic, and sinapic acids, were used in this study to investigate the antimutagenic and anticarcinogenic properties of Borage seed oil on the human leukaemia cancer cell line.
Market Dynamics:
Driver:
Increasing pharmaceutical industry need for borage oil
A common ingredient in many pharmaceutical treatments used to treat stress and depression disorders, borege oil is frequently used in the pharmaceutical sector for specialised formulations used in several stress and depression medications. Additionally, this oil is utilised to treat multiple sclerosis, arthritis, and periodontitis. These are the main elements that are likely to raise the demand for borage oil in the pharmaceutical industry and accelerate market expansion.
Restraint:
Availability of substitutes
There are several alternatives to borage oil, such as other carrier oils, primrose oil, and others, which limits market expansion. Additionally, a borage oil overdose is harmful to health and may contain the pyrrolizidine alkaloid amabiline. Furthermore, due to its teratogenic effects and potential for premature labour, borage oil is not advised for usage during pregnancy. Therefore, these are the issues limiting the market's growth.
Opportunity:
Raising consumer consciousness
Increased nerve impulse transmission with the use of borage oil may be key to the treatment of Alzheimer's disease. Gamma-linoleic acid, vitamins, macronutrients, minerals, etc. are all abundant in this oil, making it the richest organic and natural source. Therefore, it is anticipated that expanding consumer knowledge of the advantages and rising application would open up profitable market prospects in both developing and developed nations.
Threat:
Problems related to borage oil
The market's expansion may be hampered by fluctuations in the price of the crude oil used in the manufacture of borage oil. Borage oil is hazardous in excess and may include the hepatotoxic pyrrolizidine alkaloid amabiline, which can cause liver damage. Furthermore, the market's expansion is constrained by strict quality standards, a scarcity of raw materials, rising demand for natural resources, and consequences associated to some borage oil.
Covid-19 Impact
The global borage oil market's expansion has been negatively impacted in a number of ways by the COVID-19 epidemic. Several significant countries' economies saw their growth slow down, which had an impact on consumer spending trends. The government-imposed lockdowns and shutdowns have severely impacted national and international transportation as well as the supply chains of numerous sectors throughout the world. Because of this, it is projected that a lack of raw materials will slow down the production of borage oils and have a negative effect on the market's expansion.
The cosmetic grade segment is expected to be the largest during the forecast period
The cosmetic grade segment is estimated to have a lucrative growth. The usage in cosmetic products is similar to that of pharmaceuticals. This provides particular qualities like protection from the sun or high temperature resistance in tropical areas. Additionally, the sales of personal and cosmetic care goods have increased due to rising urbanisation and rising disposable income among various people around the world. Therefore, the market's future development will be greatly influenced by these aspects.
The medical segment is expected to have the highest CAGR during the forecast period
The medical segment is anticipated to witness the fastest CAGR growth during the forecast period. For treating major illnesses like eczema, obesity, rheumatoid arthritis, premenstrual syndrome, etc., the sector uses it. It is also utilised in nutraceutical products, where it is either directly eaten or combined with other base oils, as well as anti-inflammatory medications and ointments. It is frequently used in cosmetic goods, primarily moisturisers, cleansers, anti-aging, skincare, body care, and hair treatments, because of its anti-inflammatory and antioxidant characteristics.
Region with Largest share:
Asia Pacific is projected to hold the largest market share during the forecast period owing to increasing production levels of nutraceuticals, pharmaceutical drugs, and cosmetics. Over the forecast period, it is anticipated that ongoing attempts by research organisations to determine the medicinal potential of borage oil will increase general consumption levels. Due to the significant number of young people in the area and their growing interest in natural supplements and healthcare, the market is expected to rise quickly in the next years.
Region with highest CAGR:
Europe is projected to have the highest CAGR over the forecast period, owing to its favorable weather and soil conditions. Due to the growing number of customers who are health conscious and the increased consumption of nutritional supplements as a result of busy lifestyles, this area, which now holds a sizable portion of the market, is anticipated to maintain its position. The consumption of borage oil is anticipated to increase in the next years as a result of improving heath conditions and a growing youth population in Brazil.
Key players in the market
Some of the key players profiled in the Borage Seed Oil Market include Oilseed Extraction Limited, Desioleadores Españoles S.A., New Directions Aromatics Inc., Connoils LLC, The Kerfoot Group, Croda International Plc, Nordic Naturals, Clearspring Ltd., AOS Products Private Limited, Desert Whale Jojoba Company, Icelandirect Inc., Premium Crops, Avestia Pharma, Soyatech International and The Herbarie at Stoney Hill Farm, Inc.
Key Developments:
In June 2023, The Kerfoot Group has announced it will begin transitioning to Oleon in a bid to strengthen its ‘natural’ oil offering. Both companies are part of the international agro-industrial organisation the Avril Group based in France, which specialises in food, animal feed, energy and sustainable chemistry.
In February 2022, TruArc Partners, a private equity firm focused on the middle-market, has invested in New Directions Aromatics (New Directions) in partnership with Founder and CEO, Alex Thomas.
Types Covered:
• Cosmetic Grade
• Pharmaceutical Grade
• Other Types
Extraction Methods Covered:
• Solvent Extracted
• Cold Pressed
Distribution Channels Covered:
• Offline
• Online
Applications Covered:
• Pharmaceuticals
• Animal Feed
• Food & Beverages
• Cosmetics
• Dietary Supplements
• Other Applications
End Users Covered:
• Consumer
• Industrial
• Other End Users
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Application Analysis
3.7 End User Analysis
3.8 Emerging Markets
3.9 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Borage Seed Oil Market, By Type
5.1 Introduction
5.2 Cosmetic Grade
5.3 Pharmaceutical Grade
5.4 Other Types
6 Global Borage Seed Oil Market, By Extraction Method
6.1 Introduction
6.2 Solvent Extracted
6.3 Cold Pressed
7 Global Borage Seed Oil Market, By Distribution Channel
7.1 Introduction
7.2 Offline
7.3 Online
8 Global Borage Seed Oil Market, By Application
8.1 Introduction
8.2 Pharmaceuticals
8.3 Animal Feed
8.4 Food & Beverages
8.5 Cosmetics
8.6 Dietary Supplements
8.7 Other Applications
9 Global Borage Seed Oil Market, By End User
9.1 Introduction
9.2 Consumer
9.3 Industrial
9.4 Other End Users
10 Global Borage Seed Oil Market, By Geography
10.1 Introduction
10.2 North America
10.2.1 US
10.2.2 Canada
10.2.3 Mexico
10.3 Europe
10.3.1 Germany
10.3.2 UK
10.3.3 Italy
10.3.4 France
10.3.5 Spain
10.3.6 Rest of Europe
10.4 Asia Pacific
10.4.1 Japan
10.4.2 China
10.4.3 India
10.4.4 Australia
10.4.5 New Zealand
10.4.6 South Korea
10.4.7 Rest of Asia Pacific
10.5 South America
10.5.1 Argentina
10.5.2 Brazil
10.5.3 Chile
10.5.4 Rest of South America
10.6 Middle East & Africa
10.6.1 Saudi Arabia
10.6.2 UAE
10.6.3 Qatar
10.6.4 South Africa
10.6.5 Rest of Middle East & Africa
11 Key Developments
11.1 Agreements, Partnerships, Collaborations and Joint Ventures
11.2 Acquisitions & Mergers
11.3 New Product Launch
11.4 Expansions
11.5 Other Key Strategies
12 Company Profiling
12.1 Oilseed Extraction Limited
12.2 Desioleadores Españoles S.A.
12.3 New Directions Aromatics Inc.
12.4 Connoils LLC
12.5 The Kerfoot Group
12.6 Croda International Plc
12.7 Nordic Naturals
12.8 Clearspring Ltd.
12.9 AOS Products Private Limited
12.10 Desert Whale Jojoba Company
12.11 Icelandirect Inc.
12.12 Premium Crops
12.13 Avestia Pharma
12.14 Soyatech International
12.15 The Herbarie at Stoney Hill Farm, Inc.
List of Tables
1 Global Borage Seed Oil Market Outlook, By Region (2021-2030) ($MN)
2 Global Borage Seed Oil Market Outlook, By Type (2021-2030) ($MN)
3 Global Borage Seed Oil Market Outlook, By Cosmetic Grade (2021-2030) ($MN)
4 Global Borage Seed Oil Market Outlook, By Pharmaceutical Grade (2021-2030) ($MN)
5 Global Borage Seed Oil Market Outlook, By Other Types (2021-2030) ($MN)
6 Global Borage Seed Oil Market Outlook, By Extraction Method (2021-2030) ($MN)
7 Global Borage Seed Oil Market Outlook, By Solvent Extracted (2021-2030) ($MN)
8 Global Borage Seed Oil Market Outlook, By Cold Pressed (2021-2030) ($MN)
9 Global Borage Seed Oil Market Outlook, By Distribution Channel (2021-2030) ($MN)
10 Global Borage Seed Oil Market Outlook, By Offline (2021-2030) ($MN)
11 Global Borage Seed Oil Market Outlook, By Online (2021-2030) ($MN)
12 Global Borage Seed Oil Market Outlook, By Application (2021-2030) ($MN)
13 Global Borage Seed Oil Market Outlook, By Pharmaceuticals (2021-2030) ($MN)
14 Global Borage Seed Oil Market Outlook, By Animal Feed (2021-2030) ($MN)
15 Global Borage Seed Oil Market Outlook, By Food & Beverages (2021-2030) ($MN)
16 Global Borage Seed Oil Market Outlook, By Cosmetics (2021-2030) ($MN)
17 Global Borage Seed Oil Market Outlook, By Dietary Supplements (2021-2030) ($MN)
18 Global Borage Seed Oil Market Outlook, By Other Applications (2021-2030) ($MN)
19 Global Borage Seed Oil Market Outlook, By End User (2021-2030) ($MN)
20 Global Borage Seed Oil Market Outlook, By Consumer (2021-2030) ($MN)
21 Global Borage Seed Oil Market Outlook, By Industrial (2021-2030) ($MN)
22 Global Borage Seed Oil Market Outlook, By Other End Users (2021-2030) ($MN)
23 North America Borage Seed Oil Market Outlook, By Country (2021-2030) ($MN)
24 North America Borage Seed Oil Market Outlook, By Type (2021-2030) ($MN)
25 North America Borage Seed Oil Market Outlook, By Cosmetic Grade (2021-2030) ($MN)
26 North America Borage Seed Oil Market Outlook, By Pharmaceutical Grade (2021-2030) ($MN)
27 North America Borage Seed Oil Market Outlook, By Other Types (2021-2030) ($MN)
28 North America Borage Seed Oil Market Outlook, By Extraction Method (2021-2030) ($MN)
29 North America Borage Seed Oil Market Outlook, By Solvent Extracted (2021-2030) ($MN)
30 North America Borage Seed Oil Market Outlook, By Cold Pressed (2021-2030) ($MN)
31 North America Borage Seed Oil Market Outlook, By Distribution Channel (2021-2030) ($MN)
32 North America Borage Seed Oil Market Outlook, By Offline (2021-2030) ($MN)
33 North America Borage Seed Oil Market Outlook, By Online (2021-2030) ($MN)
34 North America Borage Seed Oil Market Outlook, By Application (2021-2030) ($MN)
35 North America Borage Seed Oil Market Outlook, By Pharmaceuticals (2021-2030) ($MN)
36 North America Borage Seed Oil Market Outlook, By Animal Feed (2021-2030) ($MN)
37 North America Borage Seed Oil Market Outlook, By Food & Beverages (2021-2030) ($MN)
38 North America Borage Seed Oil Market Outlook, By Cosmetics (2021-2030) ($MN)
39 North America Borage Seed Oil Market Outlook, By Dietary Supplements (2021-2030) ($MN)
40 North America Borage Seed Oil Market Outlook, By Other Applications (2021-2030) ($MN)
41 North America Borage Seed Oil Market Outlook, By End User (2021-2030) ($MN)
42 North America Borage Seed Oil Market Outlook, By Consumer (2021-2030) ($MN)
43 North America Borage Seed Oil Market Outlook, By Industrial (2021-2030) ($MN)
44 North America Borage Seed Oil Market Outlook, By Other End Users (2021-2030) ($MN)
45 Europe Borage Seed Oil Market Outlook, By Country (2021-2030) ($MN)
46 Europe Borage Seed Oil Market Outlook, By Type (2021-2030) ($MN)
47 Europe Borage Seed Oil Market Outlook, By Cosmetic Grade (2021-2030) ($MN)
48 Europe Borage Seed Oil Market Outlook, By Pharmaceutical Grade (2021-2030) ($MN)
49 Europe Borage Seed Oil Market Outlook, By Other Types (2021-2030) ($MN)
50 Europe Borage Seed Oil Market Outlook, By Extraction Method (2021-2030) ($MN)
51 Europe Borage Seed Oil Market Outlook, By Solvent Extracted (2021-2030) ($MN)
52 Europe Borage Seed Oil Market Outlook, By Cold Pressed (2021-2030) ($MN)
53 Europe Borage Seed Oil Market Outlook, By Distribution Channel (2021-2030) ($MN)
54 Europe Borage Seed Oil Market Outlook, By Offline (2021-2030) ($MN)
55 Europe Borage Seed Oil Market Outlook, By Online (2021-2030) ($MN)
56 Europe Borage Seed Oil Market Outlook, By Application (2021-2030) ($MN)
57 Europe Borage Seed Oil Market Outlook, By Pharmaceuticals (2021-2030) ($MN)
58 Europe Borage Seed Oil Market Outlook, By Animal Feed (2021-2030) ($MN)
59 Europe Borage Seed Oil Market Outlook, By Food & Beverages (2021-2030) ($MN)
60 Europe Borage Seed Oil Market Outlook, By Cosmetics (2021-2030) ($MN)
61 Europe Borage Seed Oil Market Outlook, By Dietary Supplements (2021-2030) ($MN)
62 Europe Borage Seed Oil Market Outlook, By Other Applications (2021-2030) ($MN)
63 Europe Borage Seed Oil Market Outlook, By End User (2021-2030) ($MN)
64 Europe Borage Seed Oil Market Outlook, By Consumer (2021-2030) ($MN)
65 Europe Borage Seed Oil Market Outlook, By Industrial (2021-2030) ($MN)
66 Europe Borage Seed Oil Market Outlook, By Other End Users (2021-2030) ($MN)
67 Asia Pacific Borage Seed Oil Market Outlook, By Country (2021-2030) ($MN)
68 Asia Pacific Borage Seed Oil Market Outlook, By Type (2021-2030) ($MN)
69 Asia Pacific Borage Seed Oil Market Outlook, By Cosmetic Grade (2021-2030) ($MN)
70 Asia Pacific Borage Seed Oil Market Outlook, By Pharmaceutical Grade (2021-2030) ($MN)
71 Asia Pacific Borage Seed Oil Market Outlook, By Other Types (2021-2030) ($MN)
72 Asia Pacific Borage Seed Oil Market Outlook, By Extraction Method (2021-2030) ($MN)
73 Asia Pacific Borage Seed Oil Market Outlook, By Solvent Extracted (2021-2030) ($MN)
74 Asia Pacific Borage Seed Oil Market Outlook, By Cold Pressed (2021-2030) ($MN)
75 Asia Pacific Borage Seed Oil Market Outlook, By Distribution Channel (2021-2030) ($MN)
76 Asia Pacific Borage Seed Oil Market Outlook, By Offline (2021-2030) ($MN)
77 Asia Pacific Borage Seed Oil Market Outlook, By Online (2021-2030) ($MN)
78 Asia Pacific Borage Seed Oil Market Outlook, By Application (2021-2030) ($MN)
79 Asia Pacific Borage Seed Oil Market Outlook, By Pharmaceuticals (2021-2030) ($MN)
80 Asia Pacific Borage Seed Oil Market Outlook, By Animal Feed (2021-2030) ($MN)
81 Asia Pacific Borage Seed Oil Market Outlook, By Food & Beverages (2021-2030) ($MN)
82 Asia Pacific Borage Seed Oil Market Outlook, By Cosmetics (2021-2030) ($MN)
83 Asia Pacific Borage Seed Oil Market Outlook, By Dietary Supplements (2021-2030) ($MN)
84 Asia Pacific Borage Seed Oil Market Outlook, By Other Applications (2021-2030) ($MN)
85 Asia Pacific Borage Seed Oil Market Outlook, By End User (2021-2030) ($MN)
86 Asia Pacific Borage Seed Oil Market Outlook, By Consumer (2021-2030) ($MN)
87 Asia Pacific Borage Seed Oil Market Outlook, By Industrial (2021-2030) ($MN)
88 Asia Pacific Borage Seed Oil Market Outlook, By Other End Users (2021-2030) ($MN)
89 South America Borage Seed Oil Market Outlook, By Country (2021-2030) ($MN)
90 South America Borage Seed Oil Market Outlook, By Type (2021-2030) ($MN)
91 South America Borage Seed Oil Market Outlook, By Cosmetic Grade (2021-2030) ($MN)
92 South America Borage Seed Oil Market Outlook, By Pharmaceutical Grade (2021-2030) ($MN)
93 South America Borage Seed Oil Market Outlook, By Other Types (2021-2030) ($MN)
94 South America Borage Seed Oil Market Outlook, By Extraction Method (2021-2030) ($MN)
95 South America Borage Seed Oil Market Outlook, By Solvent Extracted (2021-2030) ($MN)
96 South America Borage Seed Oil Market Outlook, By Cold Pressed (2021-2030) ($MN)
97 South America Borage Seed Oil Market Outlook, By Distribution Channel (2021-2030) ($MN)
98 South America Borage Seed Oil Market Outlook, By Offline (2021-2030) ($MN)
99 South America Borage Seed Oil Market Outlook, By Online (2021-2030) ($MN)
100 South America Borage Seed Oil Market Outlook, By Application (2021-2030) ($MN)
101 South America Borage Seed Oil Market Outlook, By Pharmaceuticals (2021-2030) ($MN)
102 South America Borage Seed Oil Market Outlook, By Animal Feed (2021-2030) ($MN)
103 South America Borage Seed Oil Market Outlook, By Food & Beverages (2021-2030) ($MN)
104 South America Borage Seed Oil Market Outlook, By Cosmetics (2021-2030) ($MN)
105 South America Borage Seed Oil Market Outlook, By Dietary Supplements (2021-2030) ($MN)
106 South America Borage Seed Oil Market Outlook, By Other Applications (2021-2030) ($MN)
107 South America Borage Seed Oil Market Outlook, By End User (2021-2030) ($MN)
108 South America Borage Seed Oil Market Outlook, By Consumer (2021-2030) ($MN)
109 South America Borage Seed Oil Market Outlook, By Industrial (2021-2030) ($MN)
110 South America Borage Seed Oil Market Outlook, By Other End Users (2021-2030) ($MN)
111 Middle East & Africa Borage Seed Oil Market Outlook, By Country (2021-2030) ($MN)
112 Middle East & Africa Borage Seed Oil Market Outlook, By Type (2021-2030) ($MN)
113 Middle East & Africa Borage Seed Oil Market Outlook, By Cosmetic Grade (2021-2030) ($MN)
114 Middle East & Africa Borage Seed Oil Market Outlook, By Pharmaceutical Grade (2021-2030) ($MN)
115 Middle East & Africa Borage Seed Oil Market Outlook, By Other Types (2021-2030) ($MN)
116 Middle East & Africa Borage Seed Oil Market Outlook, By Extraction Method (2021-2030) ($MN)
117 Middle East & Africa Borage Seed Oil Market Outlook, By Solvent Extracted (2021-2030) ($MN)
118 Middle East & Africa Borage Seed Oil Market Outlook, By Cold Pressed (2021-2030) ($MN)
119 Middle East & Africa Borage Seed Oil Market Outlook, By Distribution Channel (2021-2030) ($MN)
120 Middle East & Africa Borage Seed Oil Market Outlook, By Offline (2021-2030) ($MN)
121 Middle East & Africa Borage Seed Oil Market Outlook, By Online (2021-2030) ($MN)
122 Middle East & Africa Borage Seed Oil Market Outlook, By Application (2021-2030) ($MN)
123 Middle East & Africa Borage Seed Oil Market Outlook, By Pharmaceuticals (2021-2030) ($MN)
124 Middle East & Africa Borage Seed Oil Market Outlook, By Animal Feed (2021-2030) ($MN)
125 Middle East & Africa Borage Seed Oil Market Outlook, By Food & Beverages (2021-2030) ($MN)
126 Middle East & Africa Borage Seed Oil Market Outlook, By Cosmetics (2021-2030) ($MN)
127 Middle East & Africa Borage Seed Oil Market Outlook, By Dietary Supplements (2021-2030) ($MN)
128 Middle East & Africa Borage Seed Oil Market Outlook, By Other Applications (2021-2030) ($MN)
129 Middle East & Africa Borage Seed Oil Market Outlook, By End User (2021-2030) ($MN)
130 Middle East & Africa Borage Seed Oil Market Outlook, By Consumer (2021-2030) ($MN)
131 Middle East & Africa Borage Seed Oil Market Outlook, By Industrial (2021-2030) ($MN)
132 Middle East & Africa Borage Seed Oil Market Outlook, By Other End Users (2021-2030) ($MN)
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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