Industrial Biotechnology Market
Industrial Biotechnology Market Forecasts to 2030 - Global Analysis By Type (Biochemical, Biofuel, Bioproduct and Other Types), Raw Material, Application and By Geography
According to Stratistics MRC, the Global Industrial Biotechnology Market is expected to grow at a CAGR of 11.9% during the forecast period. The term ""industrial biotechnology market,"" also referred to as ""white biotechnology,"" describes the use of biotechnological concepts, instruments, and processes to create and produce products on an industrial scale. It involves utilizing living organisms, such as bacteria, yeast, and enzymes, to produce bio-based products, methods, and solutions that are more flexible, eco-friendly, and practical than conventional chemical-based processes. Agriculture, biofuels, chemicals, medicines, food and beverage production, environmental management, and other industries are included in the market. The preservation of human life and health, the enhancement of life quality, and the promotion of regional economic development will all be significantly impacted by the development of the biotechnology sector in the future.
According to the data published by the World Health Organization, in February 2022, cancer is a leading cause of death worldwide, accounting for nearly 10 million deaths in 2020, or nearly one in six deaths.
Market Dynamics:
Driver:
Development of biotechnology
The capabilities of industrial biotechnology have been transformed by the ongoing development of biotechnological methods and tools, such as genetic engineering, synthetic biology, and precise genome editing. With the help of these developments, microbes and enzymes can be modified and optimized to produce a variety of bio-based products, such as biofuels, specialty chemicals, biopharmaceuticals, and biobased materials. Additionally, biotechnologists can create microorganisms with improved metabolic pathways due to their increased precision and control over biological systems, which will increase yields and enable more efficient production.
Restraint:
High cost
Substantial capital is needed to develop biotechnological processes, laboratories, and infrastructure, which can be a barrier for both new and current businesses. Cutting-edge technologies, expensive specialized gear, and highly trained workers are frequently needed in the biotechnology industry. However, developing and refining biotechnological processes may require an enormous amount of time and resources during the research and development stage. The commercialization of biotech products may be delayed by these high initial expenditures, which may pose a burden on financial resources.
Opportunity:
Demand from consumers for sustainable products
Consumer preferences for products that are environmentally friendly, sustainably made, and manufactured ethically have changed substantially in recent years. Due to this shift in perspective, there is a growing demand for products produced by biotechnological methods, which are by nature more environmentally friendly and sustainable. Furthermore, industrial biotechnology makes it possible to create sustainable bio-based products, biofuels, and specialty chemicals that are less harmful to the environment than their conventional counterparts. Consumers are increasingly seeking alternatives that reflect their values and address their worries about climate change and the depletion of commodities.
Threat:
Regulatory obstacles
Due to the possible negative effects of biotechnological processes and products on the environment and human health, the biotech industry operates in a complex regulatory framework characterized by changing regulations and intense scrutiny. For novel biotech products or processes, obtaining regulatory approvals can be a time-consuming and expensive procedure with stringent safety regulations. However, companies may be reluctant to engage in biotechnological innovations because of regulatory uncertainty, which can cause delays in commercialization and accessibility to markets.
Covid-19 Impact:
The fact that supply chains experienced disruption and certain projects were delayed is a side effect, but it further demonstrates the importance of biotechnology in tackling global problems. The need for biotechnology products has increased, particularly in the creation of vaccines and the healthcare industry. A crucial role in the rapid creation of COVID-19 vaccines was played by industrial biotechnology, demonstrating the sector's flexibility and capacity for innovation. Restrictions associated with the epidemic and the current condition of the economy, however, have temporarily harmed investments and slowed down the development of several biotech businesses in other sectors of the economy.
The biochemical segment is expected to be the largest during the forecast period
Due to the wide range of applications that use biological processes and organisms to manufacture various chemicals, the biochemical segment held the largest share of the market over the forecast period. This sector is essential for promoting environmentally friendly and sustainable manufacturing methods. Moreover, in order to produce chemicals, specialty compounds, and bio-based materials like biodegradable plastics, it entails replacing traditional chemical synthesis processes with the use of microbes, enzymes, and other biocatalysts. Applications of the biochemical sector can be found in a variety of fields, including pharmaceuticals, agriculture, food and beverage, and cosmetics.
The food waste segment is expected to have the highest CAGR during the forecast period
Food Waste segment is anticipated to witness lucrative growth. Within the industrial biotechnology industry, the food waste segment addresses the crucial problem of minimizing food waste and utilizing organic waste materials to produce products with added value. Industrial biotechnology uses microbes and enzymatic processes to break down complex organic compounds, recover valuable resources, and reduce the environmental impact of disposing of food waste. Moreover, by creating valuable products from garbage that would otherwise go to waste, these environmentally friendly and sustainable methods not only reduce the environmental problems caused by food waste but also support the circular economy.
Region with largest share:
Due to its robust economic development, expanding population, and rising awareness of the environment, the Asia-Pacific area accounted for the largest share. Particularly in important industries such as agriculture, energy, and healthcare, the region has experienced an increase in demand for products made from bio-based materials. Furthermore, government programs and regulatory assistance for bio-based companies and green technologies have also accelerated the development of industrial biotechnology in the area. This is especially apparent in nations like China and India, which have extensively used R&D to improve their biotechnology abilities.
Region with highest CAGR:
Due to its strong dedication to sustainability, strict environmental standards, and well-established industrial landscape, Europe is predicted to experience profitable growth during the projected period of time. The region's emphasis on minimizing its environmental impact and transitioning to eco-friendly, bio-based solutions has elevated industrial biotechnology to the position of a major innovation driver. Moreover, significant growth has been facilitated by Europe's solid regulatory support for biotechnological innovations, particularly in areas like pharmaceuticals, chemicals, and agriculture.
Key players in the market
Some of the key players in Industrial Biotechnology market include BASF SE, Codexis, Inc., Fermentalg, Borregaard AS, Gevo, Inc., Global Bioenergies, Evolva, Amyris, Inc., Novozymes and Deinove.
Key Developments:
In October 2023, BASF invests a high double-digit million euro amount in a new fermentation plant for biological and biotechnology-based crop protection products at its Ludwigshafen site. The plant will manufacture products that bring value to farmers including biological fungicides and biological seed treatment. BASF also plans to utilize the plant to produce the main building block of Inscalis®, a novel insecticide derived from a fungal strain.
In June 2023, The German chemicals giant has announced it would increase its global alkyl polyglucosides (APGs) production capacity with two expansions at its sites in Bangpakong, Thailand, and Cincinnati, Ohio.
Types Covered:
• Biochemical
• Biofuel
• Bioproduct
• Other Types
Raw Materials Covered:
• Grains & Starch Crops
• Food Waste
• Agricultural Residues
• Forestry Material
• Energy Crops
• Urban & Suburban Waste
• Other Raw Materials
Applications Covered:
• BioEnergy
• Textile
• Pulp & Paper
• Pharmaceuticals
• Food & Feed
• Other Applications
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
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 Emerging Markets
3.8 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 Industrial Biotechnology Market, By Type
5.1 Introduction
5.2 Biochemical
5.3 Biofuel
5.4 Bioproduct
5.5 Biomaterial
5.6 Other Types
6 Global Industrial Biotechnology Market, By Raw Material
6.1 Introduction
6.2 Grains & Starch Crops
6.3 Food Waste
6.4 Agricultural Residues
6.5 Forestry Material
6.6 Energy Crops
6.7 Urban & Suburban Waste
6.8 Other Raw Materials
7 Global Industrial Biotechnology Market, By Application
7.1 Introduction
7.2 BioEnergy
7.3 Textile
7.4 Pulp & Paper
7.5 Pharmaceuticals
7.6 Food & Feed
7.7 Other Applications
8 Global Industrial Biotechnology Market, By Geography
8.1 Introduction
8.2 North America
8.2.1 US
8.2.2 Canada
8.2.3 Mexico
8.3 Europe
8.3.1 Germany
8.3.2 UK
8.3.3 Italy
8.3.4 France
8.3.5 Spain
8.3.6 Rest of Europe
8.4 Asia Pacific
8.4.1 Japan
8.4.2 China
8.4.3 India
8.4.4 Australia
8.4.5 New Zealand
8.4.6 South Korea
8.4.7 Rest of Asia Pacific
8.5 South America
8.5.1 Argentina
8.5.2 Brazil
8.5.3 Chile
8.5.4 Rest of South America
8.6 Middle East & Africa
8.6.1 Saudi Arabia
8.6.2 UAE
8.6.3 Qatar
8.6.4 South Africa
8.6.5 Rest of Middle East & Africa
9 Key Developments
9.1 Agreements, Partnerships, Collaborations and Joint Ventures
9.2 Acquisitions & Mergers
9.3 New Product Launch
9.4 Expansions
9.5 Other Key Strategies
10 Company Profiling
10.1 BASF SE
10.2 Codexis, Inc.
10.3 Fermentalg
10.4 Borregaard AS
10.5 Gevo, Inc.
10.6 Global Bioenergies
10.7 Evolva
10.8 Amyris, Inc.
10.9 Novozymes
10.10 Deinove
List of Tables
1 Global Industrial Biotechnology Market Outlook, By Region (2021-2030) ($MN)
2 Global Industrial Biotechnology Market Outlook, By Type (2021-2030) ($MN)
3 Global Industrial Biotechnology Market Outlook, By Biochemical (2021-2030) ($MN)
4 Global Industrial Biotechnology Market Outlook, By Biofuel (2021-2030) ($MN)
5 Global Industrial Biotechnology Market Outlook, By Bioproduct (2021-2030) ($MN)
6 Global Industrial Biotechnology Market Outlook, By Biomaterial (2021-2030) ($MN)
7 Global Industrial Biotechnology Market Outlook, By Other Types (2021-2030) ($MN)
8 Global Industrial Biotechnology Market Outlook, By Raw Material (2021-2030) ($MN)
9 Global Industrial Biotechnology Market Outlook, By Grains & Starch Crops (2021-2030) ($MN)
10 Global Industrial Biotechnology Market Outlook, By Food Waste (2021-2030) ($MN)
11 Global Industrial Biotechnology Market Outlook, By Agricultural Residues (2021-2030) ($MN)
12 Global Industrial Biotechnology Market Outlook, By Forestry Material (2021-2030) ($MN)
13 Global Industrial Biotechnology Market Outlook, By Energy Crops (2021-2030) ($MN)
14 Global Industrial Biotechnology Market Outlook, By Urban & Suburban Waste (2021-2030) ($MN)
15 Global Industrial Biotechnology Market Outlook, By Other Raw Materials (2021-2030) ($MN)
16 Global Industrial Biotechnology Market Outlook, By Application (2021-2030) ($MN)
17 Global Industrial Biotechnology Market Outlook, By BioEnergy (2021-2030) ($MN)
18 Global Industrial Biotechnology Market Outlook, By Textile (2021-2030) ($MN)
19 Global Industrial Biotechnology Market Outlook, By Pulp & Paper (2021-2030) ($MN)
20 Global Industrial Biotechnology Market Outlook, By Pharmaceuticals (2021-2030) ($MN)
21 Global Industrial Biotechnology Market Outlook, By Food & Feed (2021-2030) ($MN)
22 Global Industrial Biotechnology Market Outlook, By Other Applications (2021-2030) ($MN)
23 North America Industrial Biotechnology Market Outlook, By Country (2021-2030) ($MN)
24 North America Industrial Biotechnology Market Outlook, By Type (2021-2030) ($MN)
25 North America Industrial Biotechnology Market Outlook, By Biochemical (2021-2030) ($MN)
26 North America Industrial Biotechnology Market Outlook, By Biofuel (2021-2030) ($MN)
27 North America Industrial Biotechnology Market Outlook, By Bioproduct (2021-2030) ($MN)
28 North America Industrial Biotechnology Market Outlook, By Biomaterial (2021-2030) ($MN)
29 North America Industrial Biotechnology Market Outlook, By Other Types (2021-2030) ($MN)
30 North America Industrial Biotechnology Market Outlook, By Raw Material (2021-2030) ($MN)
31 North America Industrial Biotechnology Market Outlook, By Grains & Starch Crops (2021-2030) ($MN)
32 North America Industrial Biotechnology Market Outlook, By Food Waste (2021-2030) ($MN)
33 North America Industrial Biotechnology Market Outlook, By Agricultural Residues (2021-2030) ($MN)
34 North America Industrial Biotechnology Market Outlook, By Forestry Material (2021-2030) ($MN)
35 North America Industrial Biotechnology Market Outlook, By Energy Crops (2021-2030) ($MN)
36 North America Industrial Biotechnology Market Outlook, By Urban & Suburban Waste (2021-2030) ($MN)
37 North America Industrial Biotechnology Market Outlook, By Other Raw Materials (2021-2030) ($MN)
38 North America Industrial Biotechnology Market Outlook, By Application (2021-2030) ($MN)
39 North America Industrial Biotechnology Market Outlook, By BioEnergy (2021-2030) ($MN)
40 North America Industrial Biotechnology Market Outlook, By Textile (2021-2030) ($MN)
41 North America Industrial Biotechnology Market Outlook, By Pulp & Paper (2021-2030) ($MN)
42 North America Industrial Biotechnology Market Outlook, By Pharmaceuticals (2021-2030) ($MN)
43 North America Industrial Biotechnology Market Outlook, By Food & Feed (2021-2030) ($MN)
44 North America Industrial Biotechnology Market Outlook, By Other Applications (2021-2030) ($MN)
45 Europe Industrial Biotechnology Market Outlook, By Country (2021-2030) ($MN)
46 Europe Industrial Biotechnology Market Outlook, By Type (2021-2030) ($MN)
47 Europe Industrial Biotechnology Market Outlook, By Biochemical (2021-2030) ($MN)
48 Europe Industrial Biotechnology Market Outlook, By Biofuel (2021-2030) ($MN)
49 Europe Industrial Biotechnology Market Outlook, By Bioproduct (2021-2030) ($MN)
50 Europe Industrial Biotechnology Market Outlook, By Biomaterial (2021-2030) ($MN)
51 Europe Industrial Biotechnology Market Outlook, By Other Types (2021-2030) ($MN)
52 Europe Industrial Biotechnology Market Outlook, By Raw Material (2021-2030) ($MN)
53 Europe Industrial Biotechnology Market Outlook, By Grains & Starch Crops (2021-2030) ($MN)
54 Europe Industrial Biotechnology Market Outlook, By Food Waste (2021-2030) ($MN)
55 Europe Industrial Biotechnology Market Outlook, By Agricultural Residues (2021-2030) ($MN)
56 Europe Industrial Biotechnology Market Outlook, By Forestry Material (2021-2030) ($MN)
57 Europe Industrial Biotechnology Market Outlook, By Energy Crops (2021-2030) ($MN)
58 Europe Industrial Biotechnology Market Outlook, By Urban & Suburban Waste (2021-2030) ($MN)
59 Europe Industrial Biotechnology Market Outlook, By Other Raw Materials (2021-2030) ($MN)
60 Europe Industrial Biotechnology Market Outlook, By Application (2021-2030) ($MN)
61 Europe Industrial Biotechnology Market Outlook, By BioEnergy (2021-2030) ($MN)
62 Europe Industrial Biotechnology Market Outlook, By Textile (2021-2030) ($MN)
63 Europe Industrial Biotechnology Market Outlook, By Pulp & Paper (2021-2030) ($MN)
64 Europe Industrial Biotechnology Market Outlook, By Pharmaceuticals (2021-2030) ($MN)
65 Europe Industrial Biotechnology Market Outlook, By Food & Feed (2021-2030) ($MN)
66 Europe Industrial Biotechnology Market Outlook, By Other Applications (2021-2030) ($MN)
67 Asia Pacific Industrial Biotechnology Market Outlook, By Country (2021-2030) ($MN)
68 Asia Pacific Industrial Biotechnology Market Outlook, By Type (2021-2030) ($MN)
69 Asia Pacific Industrial Biotechnology Market Outlook, By Biochemical (2021-2030) ($MN)
70 Asia Pacific Industrial Biotechnology Market Outlook, By Biofuel (2021-2030) ($MN)
71 Asia Pacific Industrial Biotechnology Market Outlook, By Bioproduct (2021-2030) ($MN)
72 Asia Pacific Industrial Biotechnology Market Outlook, By Biomaterial (2021-2030) ($MN)
73 Asia Pacific Industrial Biotechnology Market Outlook, By Other Types (2021-2030) ($MN)
74 Asia Pacific Industrial Biotechnology Market Outlook, By Raw Material (2021-2030) ($MN)
75 Asia Pacific Industrial Biotechnology Market Outlook, By Grains & Starch Crops (2021-2030) ($MN)
76 Asia Pacific Industrial Biotechnology Market Outlook, By Food Waste (2021-2030) ($MN)
77 Asia Pacific Industrial Biotechnology Market Outlook, By Agricultural Residues (2021-2030) ($MN)
78 Asia Pacific Industrial Biotechnology Market Outlook, By Forestry Material (2021-2030) ($MN)
79 Asia Pacific Industrial Biotechnology Market Outlook, By Energy Crops (2021-2030) ($MN)
80 Asia Pacific Industrial Biotechnology Market Outlook, By Urban & Suburban Waste (2021-2030) ($MN)
81 Asia Pacific Industrial Biotechnology Market Outlook, By Other Raw Materials (2021-2030) ($MN)
82 Asia Pacific Industrial Biotechnology Market Outlook, By Application (2021-2030) ($MN)
83 Asia Pacific Industrial Biotechnology Market Outlook, By BioEnergy (2021-2030) ($MN)
84 Asia Pacific Industrial Biotechnology Market Outlook, By Textile (2021-2030) ($MN)
85 Asia Pacific Industrial Biotechnology Market Outlook, By Pulp & Paper (2021-2030) ($MN)
86 Asia Pacific Industrial Biotechnology Market Outlook, By Pharmaceuticals (2021-2030) ($MN)
87 Asia Pacific Industrial Biotechnology Market Outlook, By Food & Feed (2021-2030) ($MN)
88 Asia Pacific Industrial Biotechnology Market Outlook, By Other Applications (2021-2030) ($MN)
89 South America Industrial Biotechnology Market Outlook, By Country (2021-2030) ($MN)
90 South America Industrial Biotechnology Market Outlook, By Type (2021-2030) ($MN)
91 South America Industrial Biotechnology Market Outlook, By Biochemical (2021-2030) ($MN)
92 South America Industrial Biotechnology Market Outlook, By Biofuel (2021-2030) ($MN)
93 South America Industrial Biotechnology Market Outlook, By Bioproduct (2021-2030) ($MN)
94 South America Industrial Biotechnology Market Outlook, By Biomaterial (2021-2030) ($MN)
95 South America Industrial Biotechnology Market Outlook, By Other Types (2021-2030) ($MN)
96 South America Industrial Biotechnology Market Outlook, By Raw Material (2021-2030) ($MN)
97 South America Industrial Biotechnology Market Outlook, By Grains & Starch Crops (2021-2030) ($MN)
98 South America Industrial Biotechnology Market Outlook, By Food Waste (2021-2030) ($MN)
99 South America Industrial Biotechnology Market Outlook, By Agricultural Residues (2021-2030) ($MN)
100 South America Industrial Biotechnology Market Outlook, By Forestry Material (2021-2030) ($MN)
101 South America Industrial Biotechnology Market Outlook, By Energy Crops (2021-2030) ($MN)
102 South America Industrial Biotechnology Market Outlook, By Urban & Suburban Waste (2021-2030) ($MN)
103 South America Industrial Biotechnology Market Outlook, By Other Raw Materials (2021-2030) ($MN)
104 South America Industrial Biotechnology Market Outlook, By Application (2021-2030) ($MN)
105 South America Industrial Biotechnology Market Outlook, By BioEnergy (2021-2030) ($MN)
106 South America Industrial Biotechnology Market Outlook, By Textile (2021-2030) ($MN)
107 South America Industrial Biotechnology Market Outlook, By Pulp & Paper (2021-2030) ($MN)
108 South America Industrial Biotechnology Market Outlook, By Pharmaceuticals (2021-2030) ($MN)
109 South America Industrial Biotechnology Market Outlook, By Food & Feed (2021-2030) ($MN)
110 South America Industrial Biotechnology Market Outlook, By Other Applications (2021-2030) ($MN)
111 Middle East & Africa Industrial Biotechnology Market Outlook, By Country (2021-2030) ($MN)
112 Middle East & Africa Industrial Biotechnology Market Outlook, By Type (2021-2030) ($MN)
113 Middle East & Africa Industrial Biotechnology Market Outlook, By Biochemical (2021-2030) ($MN)
114 Middle East & Africa Industrial Biotechnology Market Outlook, By Biofuel (2021-2030) ($MN)
115 Middle East & Africa Industrial Biotechnology Market Outlook, By Bioproduct (2021-2030) ($MN)
116 Middle East & Africa Industrial Biotechnology Market Outlook, By Biomaterial (2021-2030) ($MN)
117 Middle East & Africa Industrial Biotechnology Market Outlook, By Other Types (2021-2030) ($MN)
118 Middle East & Africa Industrial Biotechnology Market Outlook, By Raw Material (2021-2030) ($MN)
119 Middle East & Africa Industrial Biotechnology Market Outlook, By Grains & Starch Crops (2021-2030) ($MN)
120 Middle East & Africa Industrial Biotechnology Market Outlook, By Food Waste (2021-2030) ($MN)
121 Middle East & Africa Industrial Biotechnology Market Outlook, By Agricultural Residues (2021-2030) ($MN)
122 Middle East & Africa Industrial Biotechnology Market Outlook, By Forestry Material (2021-2030) ($MN)
123 Middle East & Africa Industrial Biotechnology Market Outlook, By Energy Crops (2021-2030) ($MN)
124 Middle East & Africa Industrial Biotechnology Market Outlook, By Urban & Suburban Waste (2021-2030) ($MN)
125 Middle East & Africa Industrial Biotechnology Market Outlook, By Other Raw Materials (2021-2030) ($MN)
126 Middle East & Africa Industrial Biotechnology Market Outlook, By Application (2021-2030) ($MN)
127 Middle East & Africa Industrial Biotechnology Market Outlook, By BioEnergy (2021-2030) ($MN)
128 Middle East & Africa Industrial Biotechnology Market Outlook, By Textile (2021-2030) ($MN)
129 Middle East & Africa Industrial Biotechnology Market Outlook, By Pulp & Paper (2021-2030) ($MN)
130 Middle East & Africa Industrial Biotechnology Market Outlook, By Pharmaceuticals (2021-2030) ($MN)
131 Middle East & Africa Industrial Biotechnology Market Outlook, By Food & Feed (2021-2030) ($MN)
132 Middle East & Africa Industrial Biotechnology Market Outlook, By Other Applications (2021-2030) ($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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