Sodium Benzoate Market
Sodium Benzoate Market Forecasts to 2030 - Global Analysis By Form (Granules, Powder, Flakes and Other Forms), Distribution Channel (Offline Retailer and Online Retailer), Application, End User and By Geography
According to Stratistics MRC, the Global Sodium Benzoate Market is accounted for $1.43 billion in 2023 and is expected to reach $2.46 billion by 2030 growing at a CAGR of 8.1% during the forecast period. As a synthetic compound, Sodium Benzoate serves as an effective preservative due to its ability to inhibit the growth of bacteria, yeast, and mold in acidic conditions, thereby extending the shelf life of various consumables. Its utilization spans across a spectrum of food and beverage segments including carbonated drinks, fruit juices, sauces, and condiments. Additionally, its affordability and regulatory approval as a safe food additive contribute to its popularity among manufacturers seeking to ensure product quality and safety.
According to the International Program on Health and safety, sodium benzoate is widely used in the beverage sector. Sodium benzoate raises the acidity of soft drinks, which also boosts the flavor intensity of high-fructose corn syrup. Sodium benzoate is listed as E211 in the ingredients list on the back of a soda can, which is the number assigned to it as a food additive. E211 is a common ingredient in diet soft drinks.
Market Dynamics:
Driver:
Stringent food safety regulations
With an increasing emphasis on food quality and safety globally, regulatory authorities have implemented strict guidelines and standards to ensure consumer protection. Sodium benzoate, recognized as a safe and effective preservative by regulatory bodies worldwide, becomes a preferred choice for food manufacturers seeking compliance with these regulations. Its approval for use as a food additive in various jurisdictions provides manufacturers with a reliable option for preserving the integrity of their products while meeting regulatory requirements.
Restraint:
Fluctuations in raw material prices
The primary raw material for sodium benzoate production is benzoic acid, which is derived from various sources such as toluene or benzene. Any volatility in the prices of these raw materials can directly impact the cost of producing sodium benzoate. Factors such as changes in supply and demand dynamics, geopolitical tensions affecting raw material sourcing, and fluctuations in energy prices can all contribute to price instability. These fluctuations not only affect the profitability of sodium benzoate manufacturers but also create uncertainty for buyers and end-users, leading to challenges in budgeting and planning.
Opportunity:
Technological advancements
With continuous innovations in food processing and preservation technologies, manufacturers are constantly seeking more efficient and effective methods to extend the shelf life of their products while ensuring food safety and quality. Sodium benzoate, as a versatile preservative, benefits from these advancements by being incorporated into new formulations and production processes that enhance its efficacy and application flexibility. Advanced techniques such as microencapsulation and nanoemulsification have enabled the development of novel sodium benzoate delivery systems, improving its stability and dispersibility in food and beverage matrices.
Threat:
Emergence of alternative preservation methods
With growing consumer demand for natural and clean-label food products, there has been an increased interest in exploring alternative preservation techniques that offer safer and more natural solutions than synthetic additives like sodium benzoate. Methods such as high-pressure processing, modified atmosphere packaging, and the use of natural antimicrobial agents derived from plant extracts or essential oils are gaining traction as viable alternatives to traditional preservatives. These alternative methods not only meet consumer preferences for clean-label products but also address concerns about potential health risks associated with synthetic additives.
Covid-19 Impact:
The shutdown resulted in a notable decline in demand for channel partners. As a result, there were higher inventory levels with the majority of trade partners, and it was unable to settle outstanding stock with them. Because of the COVID-19 pandemic, producers of sodium benzoate had a significant disruption in their raw material supply chain during the first two quarters of 2020. However, the unexpected impact of the pandemic led to a spike in demand for products in the pharmaceutical and nutraceutical businesses that help boost immunity.
The granules segment is expected to be the largest during the forecast period
Granules segment is expected to be the largest during the forecast period. Granular form allows for easier handling, storage, and dispersion in food and beverage formulations, minimizing dust formation and improving process efficiency. Granules offer better flow properties, ensuring uniform distribution within the product matrix, which enhances its effectiveness as a preservative. Furthermore, granulated sodium benzoate exhibits improved stability and reduced caking tendencies compared to powdered forms, prolonging its shelf life and maintaining product quality.
The antimicrobial agent segment is expected to have the highest CAGR during the forecast period
Antimicrobial Agent segment is expected to have the highest CAGR during the forecast period. With consumers increasingly prioritizing food safety and demanding products with extended shelf life, the demand for reliable antimicrobial agents like sodium benzoate is on the rise. As the global consumption of processed and convenience foods continues to surge, the need for effective preservation solutions intensifies, further propelling the growth of the antimicrobial agent segment within the market.
Region with largest share:
Asia Pacific region commanded the largest share of the market over the projection period. Growing populations and rising disposable incomes spurred demand for sodium benzoate in the food and cosmetics industries. As a result, sodium benzoate's price increased in the domestic market. In addition, some of the factors propelling market growth in the region include the specificity of preservatives in biochemical reactions and the rising need for higher-quality juices and beverages.
Region with highest CAGR:
Due to the compound's expanding usage in the pharmaceutical sector as well as rising pharmaceutical spending, North America region is projected to witness lucrative growth over the extrapolated period. In this region, sodium benzoate aids in the preservation of fish marinades, salads, and fruits and vegetables. It's also used to preserve fruit, yogurt, beer, and olives. It is beneficial to the environment and grows in soil and water. Moreover, the substantial expansion of the fast-food industries, especially in the US and Canada, is anticipated to drive the sodium benzoate market's development.
Key players in the market
Some of the key players in Sodium Benzoate market include A.M Food Chemical Co., Limited, Avantor Inc, Dupond De Nemours Company, Ganesh Benzoplast Ltd, Hugestone enterprise co. Ltd, Penta Chemicals, Sigma Aldrich, Eastman Company, Spectrum Chemical, Tengzhou Tenglong Chemical Co., Ltd. and BASF SE.
Key Developments:
In March 2022, Ganesh Benzoplast Limited along with Singapore based Golden Agri International Enterprises Pte. Ltd., K N Agri Resources Ltd and other investors, through– Bluebrahma Clean Energy Solutions Pvt Ltd. – has ventured into production of Ethanol and Extra Neutral Alcohol.
In March 2022, Ganesh Benzoplast Ltd, in collaboration with Golden Agri International Enterprises Pte. Limited., KN Agri Resources Ltd., and other investors, entered the ethanol production and Extra Neutral Alcohol (ENA) by acquiring a 100 percent shareholding in Sagar Industries, a distillery in the Nasik, Maharashtra, India
Forms Covered:
• Granules
• Powder
• Flakes
• Other Forms
Distribution Channels Covered:
• Offline Retailer
• Online Retailer
Applications Covered:
• Antifungal Agent
• Antimicrobial Agent
• Flavoring Agent
• Preservative
• Other Applications
End Users Covered:
• Food & Beverages
• Pharmaceuticals
• Cosmetics
• 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
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 Sodium Benzoate Market, By Form
5.1 Introduction
5.2 Granules
5.3 Powder
5.4 Flakes
5.5 Other Forms
6 Global Sodium Benzoate Market, By Distribution Channel
6.1 Introduction
6.2 Offline Retailer
6.3 Online Retailer
7 Global Sodium Benzoate Market, By Application
7.1 Introduction
7.2 Antifungal Agent
7.3 Antimicrobial Agent
7.4 Flavoring Agent
7.5 Preservative
7.6 Other Applications
8 Global Sodium Benzoate Market, By End User
8.1 Introduction
8.2 Food & Beverages
8.3 Pharmaceuticals
8.4 Cosmetics
8.5 Other End Users
9 Global Sodium Benzoate Market, By Geography
9.1 Introduction
9.2 North America
9.2.1 US
9.2.2 Canada
9.2.3 Mexico
9.3 Europe
9.3.1 Germany
9.3.2 UK
9.3.3 Italy
9.3.4 France
9.3.5 Spain
9.3.6 Rest of Europe
9.4 Asia Pacific
9.4.1 Japan
9.4.2 China
9.4.3 India
9.4.4 Australia
9.4.5 New Zealand
9.4.6 South Korea
9.4.7 Rest of Asia Pacific
9.5 South America
9.5.1 Argentina
9.5.2 Brazil
9.5.3 Chile
9.5.4 Rest of South America
9.6 Middle East & Africa
9.6.1 Saudi Arabia
9.6.2 UAE
9.6.3 Qatar
9.6.4 South Africa
9.6.5 Rest of Middle East & Africa
10 Key Developments
10.1 Agreements, Partnerships, Collaborations and Joint Ventures
10.2 Acquisitions & Mergers
10.3 New Product Launch
10.4 Expansions
10.5 Other Key Strategies
11 Company Profiling
11.1 A.M Food Chemical Co., Limited
11.2 Avantor Inc
11.3 Dupond De Nemours Company
11.4 Ganesh Benzoplast Ltd
11.5 Hugestone enterprise co. Ltd
11.6 Penta Chemicals
11.7 Sigma Aldrich, Eastman Company
11.8 Spectrum Chemical
11.9 Tengzhou Tenglong Chemical Co., Ltd
11.10 BASF SE
List of Tables
1 Global Sodium Benzoate Market Outlook, By Region (2021-2030) ($MN)
2 Global Sodium Benzoate Market Outlook, By Form (2021-2030) ($MN)
3 Global Sodium Benzoate Market Outlook, By Granules (2021-2030) ($MN)
4 Global Sodium Benzoate Market Outlook, By Powder (2021-2030) ($MN)
5 Global Sodium Benzoate Market Outlook, By Flakes (2021-2030) ($MN)
6 Global Sodium Benzoate Market Outlook, By Other Forms (2021-2030) ($MN)
7 Global Sodium Benzoate Market Outlook, By Distribution Channel (2021-2030) ($MN)
8 Global Sodium Benzoate Market Outlook, By Offline Retailer (2021-2030) ($MN)
9 Global Sodium Benzoate Market Outlook, By Online Retailer (2021-2030) ($MN)
10 Global Sodium Benzoate Market Outlook, By Application (2021-2030) ($MN)
11 Global Sodium Benzoate Market Outlook, By Antifungal Agent (2021-2030) ($MN)
12 Global Sodium Benzoate Market Outlook, By Antimicrobial Agent (2021-2030) ($MN)
13 Global Sodium Benzoate Market Outlook, By Flavoring Agent (2021-2030) ($MN)
14 Global Sodium Benzoate Market Outlook, By Preservative (2021-2030) ($MN)
15 Global Sodium Benzoate Market Outlook, By Other Applications (2021-2030) ($MN)
16 Global Sodium Benzoate Market Outlook, By End User (2021-2030) ($MN)
17 Global Sodium Benzoate Market Outlook, By Food & Beverages (2021-2030) ($MN)
18 Global Sodium Benzoate Market Outlook, By Pharmaceuticals (2021-2030) ($MN)
19 Global Sodium Benzoate Market Outlook, By Cosmetics (2021-2030) ($MN)
20 Global Sodium Benzoate Market Outlook, By Other End Users (2021-2030) ($MN)
21 North America Sodium Benzoate Market Outlook, By Country (2021-2030) ($MN)
22 North America Sodium Benzoate Market Outlook, By Form (2021-2030) ($MN)
23 North America Sodium Benzoate Market Outlook, By Granules (2021-2030) ($MN)
24 North America Sodium Benzoate Market Outlook, By Powder (2021-2030) ($MN)
25 North America Sodium Benzoate Market Outlook, By Flakes (2021-2030) ($MN)
26 North America Sodium Benzoate Market Outlook, By Other Forms (2021-2030) ($MN)
27 North America Sodium Benzoate Market Outlook, By Distribution Channel (2021-2030) ($MN)
28 North America Sodium Benzoate Market Outlook, By Offline Retailer (2021-2030) ($MN)
29 North America Sodium Benzoate Market Outlook, By Online Retailer (2021-2030) ($MN)
30 North America Sodium Benzoate Market Outlook, By Application (2021-2030) ($MN)
31 North America Sodium Benzoate Market Outlook, By Antifungal Agent (2021-2030) ($MN)
32 North America Sodium Benzoate Market Outlook, By Antimicrobial Agent (2021-2030) ($MN)
33 North America Sodium Benzoate Market Outlook, By Flavoring Agent (2021-2030) ($MN)
34 North America Sodium Benzoate Market Outlook, By Preservative (2021-2030) ($MN)
35 North America Sodium Benzoate Market Outlook, By Other Applications (2021-2030) ($MN)
36 North America Sodium Benzoate Market Outlook, By End User (2021-2030) ($MN)
37 North America Sodium Benzoate Market Outlook, By Food & Beverages (2021-2030) ($MN)
38 North America Sodium Benzoate Market Outlook, By Pharmaceuticals (2021-2030) ($MN)
39 North America Sodium Benzoate Market Outlook, By Cosmetics (2021-2030) ($MN)
40 North America Sodium Benzoate Market Outlook, By Other End Users (2021-2030) ($MN)
41 Europe Sodium Benzoate Market Outlook, By Country (2021-2030) ($MN)
42 Europe Sodium Benzoate Market Outlook, By Form (2021-2030) ($MN)
43 Europe Sodium Benzoate Market Outlook, By Granules (2021-2030) ($MN)
44 Europe Sodium Benzoate Market Outlook, By Powder (2021-2030) ($MN)
45 Europe Sodium Benzoate Market Outlook, By Flakes (2021-2030) ($MN)
46 Europe Sodium Benzoate Market Outlook, By Other Forms (2021-2030) ($MN)
47 Europe Sodium Benzoate Market Outlook, By Distribution Channel (2021-2030) ($MN)
48 Europe Sodium Benzoate Market Outlook, By Offline Retailer (2021-2030) ($MN)
49 Europe Sodium Benzoate Market Outlook, By Online Retailer (2021-2030) ($MN)
50 Europe Sodium Benzoate Market Outlook, By Application (2021-2030) ($MN)
51 Europe Sodium Benzoate Market Outlook, By Antifungal Agent (2021-2030) ($MN)
52 Europe Sodium Benzoate Market Outlook, By Antimicrobial Agent (2021-2030) ($MN)
53 Europe Sodium Benzoate Market Outlook, By Flavoring Agent (2021-2030) ($MN)
54 Europe Sodium Benzoate Market Outlook, By Preservative (2021-2030) ($MN)
55 Europe Sodium Benzoate Market Outlook, By Other Applications (2021-2030) ($MN)
56 Europe Sodium Benzoate Market Outlook, By End User (2021-2030) ($MN)
57 Europe Sodium Benzoate Market Outlook, By Food & Beverages (2021-2030) ($MN)
58 Europe Sodium Benzoate Market Outlook, By Pharmaceuticals (2021-2030) ($MN)
59 Europe Sodium Benzoate Market Outlook, By Cosmetics (2021-2030) ($MN)
60 Europe Sodium Benzoate Market Outlook, By Other End Users (2021-2030) ($MN)
61 Asia Pacific Sodium Benzoate Market Outlook, By Country (2021-2030) ($MN)
62 Asia Pacific Sodium Benzoate Market Outlook, By Form (2021-2030) ($MN)
63 Asia Pacific Sodium Benzoate Market Outlook, By Granules (2021-2030) ($MN)
64 Asia Pacific Sodium Benzoate Market Outlook, By Powder (2021-2030) ($MN)
65 Asia Pacific Sodium Benzoate Market Outlook, By Flakes (2021-2030) ($MN)
66 Asia Pacific Sodium Benzoate Market Outlook, By Other Forms (2021-2030) ($MN)
67 Asia Pacific Sodium Benzoate Market Outlook, By Distribution Channel (2021-2030) ($MN)
68 Asia Pacific Sodium Benzoate Market Outlook, By Offline Retailer (2021-2030) ($MN)
69 Asia Pacific Sodium Benzoate Market Outlook, By Online Retailer (2021-2030) ($MN)
70 Asia Pacific Sodium Benzoate Market Outlook, By Application (2021-2030) ($MN)
71 Asia Pacific Sodium Benzoate Market Outlook, By Antifungal Agent (2021-2030) ($MN)
72 Asia Pacific Sodium Benzoate Market Outlook, By Antimicrobial Agent (2021-2030) ($MN)
73 Asia Pacific Sodium Benzoate Market Outlook, By Flavoring Agent (2021-2030) ($MN)
74 Asia Pacific Sodium Benzoate Market Outlook, By Preservative (2021-2030) ($MN)
75 Asia Pacific Sodium Benzoate Market Outlook, By Other Applications (2021-2030) ($MN)
76 Asia Pacific Sodium Benzoate Market Outlook, By End User (2021-2030) ($MN)
77 Asia Pacific Sodium Benzoate Market Outlook, By Food & Beverages (2021-2030) ($MN)
78 Asia Pacific Sodium Benzoate Market Outlook, By Pharmaceuticals (2021-2030) ($MN)
79 Asia Pacific Sodium Benzoate Market Outlook, By Cosmetics (2021-2030) ($MN)
80 Asia Pacific Sodium Benzoate Market Outlook, By Other End Users (2021-2030) ($MN)
81 South America Sodium Benzoate Market Outlook, By Country (2021-2030) ($MN)
82 South America Sodium Benzoate Market Outlook, By Form (2021-2030) ($MN)
83 South America Sodium Benzoate Market Outlook, By Granules (2021-2030) ($MN)
84 South America Sodium Benzoate Market Outlook, By Powder (2021-2030) ($MN)
85 South America Sodium Benzoate Market Outlook, By Flakes (2021-2030) ($MN)
86 South America Sodium Benzoate Market Outlook, By Other Forms (2021-2030) ($MN)
87 South America Sodium Benzoate Market Outlook, By Distribution Channel (2021-2030) ($MN)
88 South America Sodium Benzoate Market Outlook, By Offline Retailer (2021-2030) ($MN)
89 South America Sodium Benzoate Market Outlook, By Online Retailer (2021-2030) ($MN)
90 South America Sodium Benzoate Market Outlook, By Application (2021-2030) ($MN)
91 South America Sodium Benzoate Market Outlook, By Antifungal Agent (2021-2030) ($MN)
92 South America Sodium Benzoate Market Outlook, By Antimicrobial Agent (2021-2030) ($MN)
93 South America Sodium Benzoate Market Outlook, By Flavoring Agent (2021-2030) ($MN)
94 South America Sodium Benzoate Market Outlook, By Preservative (2021-2030) ($MN)
95 South America Sodium Benzoate Market Outlook, By Other Applications (2021-2030) ($MN)
96 South America Sodium Benzoate Market Outlook, By End User (2021-2030) ($MN)
97 South America Sodium Benzoate Market Outlook, By Food & Beverages (2021-2030) ($MN)
98 South America Sodium Benzoate Market Outlook, By Pharmaceuticals (2021-2030) ($MN)
99 South America Sodium Benzoate Market Outlook, By Cosmetics (2021-2030) ($MN)
100 South America Sodium Benzoate Market Outlook, By Other End Users (2021-2030) ($MN)
101 Middle East & Africa Sodium Benzoate Market Outlook, By Country (2021-2030) ($MN)
102 Middle East & Africa Sodium Benzoate Market Outlook, By Form (2021-2030) ($MN)
103 Middle East & Africa Sodium Benzoate Market Outlook, By Granules (2021-2030) ($MN)
104 Middle East & Africa Sodium Benzoate Market Outlook, By Powder (2021-2030) ($MN)
105 Middle East & Africa Sodium Benzoate Market Outlook, By Flakes (2021-2030) ($MN)
106 Middle East & Africa Sodium Benzoate Market Outlook, By Other Forms (2021-2030) ($MN)
107 Middle East & Africa Sodium Benzoate Market Outlook, By Distribution Channel (2021-2030) ($MN)
108 Middle East & Africa Sodium Benzoate Market Outlook, By Offline Retailer (2021-2030) ($MN)
109 Middle East & Africa Sodium Benzoate Market Outlook, By Online Retailer (2021-2030) ($MN)
110 Middle East & Africa Sodium Benzoate Market Outlook, By Application (2021-2030) ($MN)
111 Middle East & Africa Sodium Benzoate Market Outlook, By Antifungal Agent (2021-2030) ($MN)
112 Middle East & Africa Sodium Benzoate Market Outlook, By Antimicrobial Agent (2021-2030) ($MN)
113 Middle East & Africa Sodium Benzoate Market Outlook, By Flavoring Agent (2021-2030) ($MN)
114 Middle East & Africa Sodium Benzoate Market Outlook, By Preservative (2021-2030) ($MN)
115 Middle East & Africa Sodium Benzoate Market Outlook, By Other Applications (2021-2030) ($MN)
116 Middle East & Africa Sodium Benzoate Market Outlook, By End User (2021-2030) ($MN)
117 Middle East & Africa Sodium Benzoate Market Outlook, By Food & Beverages (2021-2030) ($MN)
118 Middle East & Africa Sodium Benzoate Market Outlook, By Pharmaceuticals (2021-2030) ($MN)
119 Middle East & Africa Sodium Benzoate Market Outlook, By Cosmetics (2021-2030) ($MN)
120 Middle East & Africa Sodium Benzoate 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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