Textured Soy Protein Ingredient Market
Textured Soy Protein Ingredient Market Forecasts to 2030 - Global Analysis By Raw Material (Soybeans and Soy Flour), By Form (Textured Soy Protein Concentrates and Textured Soy Protein Isolates), Application, End User and By Geography
According to Stratistics MRC, the Global Textured Soy Protein Ingredient Market is accounted for $494.7 million in 2023 and is expected to reach $836.9 million by 2030 growing at a CAGR of 7.8% during the forecast period. Textured soy protein is a versatile ingredient derived from soybeans. It's created by extracting soybean oil, then dehydrating the remaining protein-rich material. This process results in a dry, textured product that resembles meat in texture and can be used as a meat substitute in various dishes. Textured soy protein is valued for its high protein content and versatility in vegetarian and vegan diets.
According to the FAO, soybean production grew to 353 million tonnes (Mt) in 2020 from about 231 Mt in 2008 from cultivating 126 million hectares of soybeans (FAO, 2020).
Market Dynamics:
Driver:
Growing demand for plant-based proteins
The increasing demand for plant-based proteins is a significant driver in the textured soy protein ingredient market. As more consumers adopt vegetarian, vegan, or flexitarian diets, there's a growing preference for alternatives to animal-based proteins. Textured soy protein offers a compelling solution due to its high protein content, versatility, and meat-like texture. Additionally, it's a cost-effective ingredient compared to animal proteins. This rising consumer awareness of health, sustainability, and ethical considerations is fueling the demand for textured soy protein in various food products, driving market growth.
Restraint:
Allergen concerns
Some individuals have soy allergies, which can lead to adverse reactions ranging from mild discomfort to severe allergic reactions. Consequently, food manufacturers must clearly label products containing textured soy protein to alert consumers with allergies. Additionally, cross-contamination during processing or packaging can pose risks for those with soy allergies. These concerns may limit the market potential of textured soy protein products, hindering market growth.
Opportunity:
Expanding application in functional foods
As consumers increasingly seek healthier food options, textured soy protein offers a versatile ingredient with high protein content and functional benefits. It can be incorporated into various functional food products, such as energy bars, shakes, and snacks, enhancing their nutritional profile. Additionally, textured soy protein's ability to mimic the texture of meat makes it appealing for use in plant-based meat alternatives, further driving its market growth in the functional foods sector.
Threat:
Substitute ingredients
Substitute ingredients pose a threat to the textured soy protein market due to the increasing availability and variety of alternative protein sources. As consumer preferences evolve and more options become accessible, there's a risk that consumers may opt for substitutes like pea protein, seitan, or mycoprotein. Additionally, concerns about genetically modified organisms (GMOs) and allergens associated with soy can further drive consumers toward alternative ingredients.
Covid-19 Impact:
The COVID-19 pandemic has affected the textured soy protein ingredient market by disrupting supply chains, leading to production delays and shortages. Additionally, changes in consumer behavior, such as reduced spending and shifts in dietary preferences, have impacted demand. However, the market has also seen increased interest in plant-based foods, which may provide opportunities for growth in the long term.
The soybeans segment is expected to be the largest during the forecast period
The soybeans segment is anticipated to dominate the textured soy protein ingredient market throughout the forecast period. Soybeans are the primary source of textured soy protein, providing a reliable and abundant supply for manufacturers. Additionally, soybeans are widely cultivated globally, contributing to their accessibility and cost-effectiveness. Moreover, soybeans are renowned for their high protein content, making them a preferred choice for producing textured soy protein, which aligns with the increasing demand for plant-based protein alternatives.
The food & beverage segment is expected to have the highest CAGR during the forecast period
In the textured soy protein ingredient market, the food and beverage segment is anticipated to experience lucrative growth during the forecast period. This growth is primarily driven by the rising demand for plant-based protein sources in food and beverage products, including meat substitutes, dairy alternatives, snacks, and ready-to-eat meals. Additionally, increasing consumer awareness of the health and sustainability benefits associated with plant-based diets is fueling the adoption of textured soy protein in the food and beverage industry.
Region with largest share:
North America is expected to maintain its dominance in the textured soy protein ingredient market owing to the region's established food processing industry, growing consumer preference for plant-based protein sources, and strong demand for meat alternatives. Additionally, increasing health consciousness and concerns about sustainability drive the adoption of textured soy protein in various food products. Furthermore, the presence of key market players and continuous product innovations contribute to North America's leading position in the market.
Region with highest CAGR:
Asia Pacific is poised for rapid growth in the textured soy protein ingredient market due to the region's large population, increasing disposable income, and changing dietary habits towards healthier foods. Additionally, growing awareness of the benefits of plant-based diets and rising demand for meat alternatives drive the adoption of textured soy protein in various food applications. Moreover, government initiatives promoting the production and consumption of plant-based proteins further fuel market growth in Asia Pacific.
Key players in the market
Some of the key players in Textured Soy Protein Ingredient Market include AGT Food and Ingredients Inc., Archer Daniels Midland Company, Batory Foods, Bunge, Cargill, Incorporated, CHS Inc., Crown Soya Protein Group, Devansoy Inc., DuPont de Nemours, Inc., Food Chem International Corporation, Hung Yang Foods Co., Ltd., Kerry Group plc, Koninklijke DSM N.V., Linyi Shansong Biological Products Co., Ltd., MGP Ingredients, Inc., Nutra Food Ingredients LLC, Shandong Wonderful Industrial Group, Sonic Biochem Extractions Ltd., The Scoular Company, Tiancheng Agricultural Development Group Co., Ltd., Victoria Group and Wilmar International Ltd.
Key Developments:
In December 2022, Bunge, a global leader in agribusiness, food and ingredients, plans to invest approximately $550 million to build a fully integrated soy protein concentrate (SPC) and textured soy protein concentrate (TSPC) facility. The new facility is expected to meet rising customer demand for key ingredients in the production of plant-based foods, processed meat, pet food, and feed products. Construction of the facility, that will be adjacent to and integrated with Bunge’s soybean processing plant in Morristown, Indiana, is expected to start in the first quarter of 2023 and to be commissioned in mid-2025, creating around 70 full time jobs. It is expected to ultimately process close to an additional 4.5 million bushels of soybeans.
In November 2022, DSM has unveiled Vertis CanolaPRO, a high-quality canola protein isolate. The move marks over a decade of R&D at the company, which has “unlocked protein from canola seeds and producing it at scale for the food industry.” Vertis CanolaPRO will allow F&B producers to develop plant-based products that offer complete proteins and are free from major allergens.
In September 2022, ADM has announced the opening of a new extrusion facility in Serbia, as it aims to extend its production of non-GMO textured soy proteins. The news comes less than a year after the company acquired European provider of non-GMO soy ingredients, SojaProtein. The facility will further expand ADM’s footprint in Europe, extending its production of non-GMO textured soy to include origination and extrusion capabilities.
Raw Materials Covered:
• Soybeans
• Soy Flour
Forms Covered:
• Textured Soy Protein Concentrates
• Textured Soy Protein Isolates
Applications Covered:
• Food & Beverage
• Animal Feed
End Users Covered:
• Retail
• Foodservice
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 Textured Soy Protein Ingredient Market, By Raw Material
5.1 Introduction
5.2 Soybeans
5.3 Soy Flour
6 Global Textured Soy Protein Ingredient Market, By Form
6.1 Introduction
6.2 Textured Soy Protein Concentrates
6.3 Textured Soy Protein Isolates
7 Global Textured Soy Protein Ingredient Market, By Application
7.1 Introduction
7.2 Food & Beverage
7.2.1 Dairy Alternatives
7.2.2 Meat Substitutes
7.2.3 Snacks & Cereals
7.2.4 Other Food & Beverages
7.3 Animal Feed
8 Global Textured Soy Protein Ingredient Market, By End User
8.1 Introduction
8.2 Retail
8.3 Foodservice
9 Global Textured Soy Protein Ingredient 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 AGT Food and Ingredients Inc.
11.2 Archer Daniels Midland Company
11.3 Batory Foods
11.4 Bunge
11.5 Cargill, Incorporated
11.6 CHS Inc.
11.7 Crown Soya Protein Group
11.8 Devansoy Inc.
11.9 DuPont de Nemours, Inc.
11.10 Food Chem International Corporation
11.11 Hung Yang Foods Co., Ltd.
11.12 Kerry Group plc
11.13 Koninklijke DSM N.V.
11.14 Linyi Shansong Biological Products Co., Ltd.
11.15 MGP Ingredients, Inc.
11.16 Nutra Food Ingredients LLC
11.17 Shandong Wonderful Industrial Group
11.18 Sonic Biochem Extractions Ltd.
11.19 The Scoular Company
11.20 Tiancheng Agricultural Development Group Co., Ltd.
11.21 Victoria Group
11.22 Wilmar International Ltd.
List of Tables
1 Global Textured Soy Protein Ingredient Market Outlook, By Region (2021-2030) ($MN)
2 Global Textured Soy Protein Ingredient Market Outlook, By Raw Material (2021-2030) ($MN)
3 Global Textured Soy Protein Ingredient Market Outlook, By Soybeans (2021-2030) ($MN)
4 Global Textured Soy Protein Ingredient Market Outlook, By Soy Flour (2021-2030) ($MN)
5 Global Textured Soy Protein Ingredient Market Outlook, By Form (2021-2030) ($MN)
6 Global Textured Soy Protein Ingredient Market Outlook, By Textured Soy Protein Concentrates (2021-2030) ($MN)
7 Global Textured Soy Protein Ingredient Market Outlook, By Textured Soy Protein Isolates (2021-2030) ($MN)
8 Global Textured Soy Protein Ingredient Market Outlook, By Application (2021-2030) ($MN)
9 Global Textured Soy Protein Ingredient Market Outlook, By Food & Beverage (2021-2030) ($MN)
10 Global Textured Soy Protein Ingredient Market Outlook, By Dairy Alternatives (2021-2030) ($MN)
11 Global Textured Soy Protein Ingredient Market Outlook, By Meat Substitutes (2021-2030) ($MN)
12 Global Textured Soy Protein Ingredient Market Outlook, By Snacks & Cereals (2021-2030) ($MN)
13 Global Textured Soy Protein Ingredient Market Outlook, By Other Food & Beverages (2021-2030) ($MN)
14 Global Textured Soy Protein Ingredient Market Outlook, By Animal Feed (2021-2030) ($MN)
15 Global Textured Soy Protein Ingredient Market Outlook, By End User (2021-2030) ($MN)
16 Global Textured Soy Protein Ingredient Market Outlook, By Retail (2021-2030) ($MN)
17 Global Textured Soy Protein Ingredient Market Outlook, By Foodservice (2021-2030) ($MN)
18 North America Textured Soy Protein Ingredient Market Outlook, By Country (2021-2030) ($MN)
19 North America Textured Soy Protein Ingredient Market Outlook, By Raw Material (2021-2030) ($MN)
20 North America Textured Soy Protein Ingredient Market Outlook, By Soybeans (2021-2030) ($MN)
21 North America Textured Soy Protein Ingredient Market Outlook, By Soy Flour (2021-2030) ($MN)
22 North America Textured Soy Protein Ingredient Market Outlook, By Form (2021-2030) ($MN)
23 North America Textured Soy Protein Ingredient Market Outlook, By Textured Soy Protein Concentrates (2021-2030) ($MN)
24 North America Textured Soy Protein Ingredient Market Outlook, By Textured Soy Protein Isolates (2021-2030) ($MN)
25 North America Textured Soy Protein Ingredient Market Outlook, By Application (2021-2030) ($MN)
26 North America Textured Soy Protein Ingredient Market Outlook, By Food & Beverage (2021-2030) ($MN)
27 North America Textured Soy Protein Ingredient Market Outlook, By Dairy Alternatives (2021-2030) ($MN)
28 North America Textured Soy Protein Ingredient Market Outlook, By Meat Substitutes (2021-2030) ($MN)
29 North America Textured Soy Protein Ingredient Market Outlook, By Snacks & Cereals (2021-2030) ($MN)
30 North America Textured Soy Protein Ingredient Market Outlook, By Other Food & Beverages (2021-2030) ($MN)
31 North America Textured Soy Protein Ingredient Market Outlook, By Animal Feed (2021-2030) ($MN)
32 North America Textured Soy Protein Ingredient Market Outlook, By End User (2021-2030) ($MN)
33 North America Textured Soy Protein Ingredient Market Outlook, By Retail (2021-2030) ($MN)
34 North America Textured Soy Protein Ingredient Market Outlook, By Foodservice (2021-2030) ($MN)
35 Europe Textured Soy Protein Ingredient Market Outlook, By Country (2021-2030) ($MN)
36 Europe Textured Soy Protein Ingredient Market Outlook, By Raw Material (2021-2030) ($MN)
37 Europe Textured Soy Protein Ingredient Market Outlook, By Soybeans (2021-2030) ($MN)
38 Europe Textured Soy Protein Ingredient Market Outlook, By Soy Flour (2021-2030) ($MN)
39 Europe Textured Soy Protein Ingredient Market Outlook, By Form (2021-2030) ($MN)
40 Europe Textured Soy Protein Ingredient Market Outlook, By Textured Soy Protein Concentrates (2021-2030) ($MN)
41 Europe Textured Soy Protein Ingredient Market Outlook, By Textured Soy Protein Isolates (2021-2030) ($MN)
42 Europe Textured Soy Protein Ingredient Market Outlook, By Application (2021-2030) ($MN)
43 Europe Textured Soy Protein Ingredient Market Outlook, By Food & Beverage (2021-2030) ($MN)
44 Europe Textured Soy Protein Ingredient Market Outlook, By Dairy Alternatives (2021-2030) ($MN)
45 Europe Textured Soy Protein Ingredient Market Outlook, By Meat Substitutes (2021-2030) ($MN)
46 Europe Textured Soy Protein Ingredient Market Outlook, By Snacks & Cereals (2021-2030) ($MN)
47 Europe Textured Soy Protein Ingredient Market Outlook, By Other Food & Beverages (2021-2030) ($MN)
48 Europe Textured Soy Protein Ingredient Market Outlook, By Animal Feed (2021-2030) ($MN)
49 Europe Textured Soy Protein Ingredient Market Outlook, By End User (2021-2030) ($MN)
50 Europe Textured Soy Protein Ingredient Market Outlook, By Retail (2021-2030) ($MN)
51 Europe Textured Soy Protein Ingredient Market Outlook, By Foodservice (2021-2030) ($MN)
52 Asia Pacific Textured Soy Protein Ingredient Market Outlook, By Country (2021-2030) ($MN)
53 Asia Pacific Textured Soy Protein Ingredient Market Outlook, By Raw Material (2021-2030) ($MN)
54 Asia Pacific Textured Soy Protein Ingredient Market Outlook, By Soybeans (2021-2030) ($MN)
55 Asia Pacific Textured Soy Protein Ingredient Market Outlook, By Soy Flour (2021-2030) ($MN)
56 Asia Pacific Textured Soy Protein Ingredient Market Outlook, By Form (2021-2030) ($MN)
57 Asia Pacific Textured Soy Protein Ingredient Market Outlook, By Textured Soy Protein Concentrates (2021-2030) ($MN)
58 Asia Pacific Textured Soy Protein Ingredient Market Outlook, By Textured Soy Protein Isolates (2021-2030) ($MN)
59 Asia Pacific Textured Soy Protein Ingredient Market Outlook, By Application (2021-2030) ($MN)
60 Asia Pacific Textured Soy Protein Ingredient Market Outlook, By Food & Beverage (2021-2030) ($MN)
61 Asia Pacific Textured Soy Protein Ingredient Market Outlook, By Dairy Alternatives (2021-2030) ($MN)
62 Asia Pacific Textured Soy Protein Ingredient Market Outlook, By Meat Substitutes (2021-2030) ($MN)
63 Asia Pacific Textured Soy Protein Ingredient Market Outlook, By Snacks & Cereals (2021-2030) ($MN)
64 Asia Pacific Textured Soy Protein Ingredient Market Outlook, By Other Food & Beverages (2021-2030) ($MN)
65 Asia Pacific Textured Soy Protein Ingredient Market Outlook, By Animal Feed (2021-2030) ($MN)
66 Asia Pacific Textured Soy Protein Ingredient Market Outlook, By End User (2021-2030) ($MN)
67 Asia Pacific Textured Soy Protein Ingredient Market Outlook, By Retail (2021-2030) ($MN)
68 Asia Pacific Textured Soy Protein Ingredient Market Outlook, By Foodservice (2021-2030) ($MN)
69 South America Textured Soy Protein Ingredient Market Outlook, By Country (2021-2030) ($MN)
70 South America Textured Soy Protein Ingredient Market Outlook, By Raw Material (2021-2030) ($MN)
71 South America Textured Soy Protein Ingredient Market Outlook, By Soybeans (2021-2030) ($MN)
72 South America Textured Soy Protein Ingredient Market Outlook, By Soy Flour (2021-2030) ($MN)
73 South America Textured Soy Protein Ingredient Market Outlook, By Form (2021-2030) ($MN)
74 South America Textured Soy Protein Ingredient Market Outlook, By Textured Soy Protein Concentrates (2021-2030) ($MN)
75 South America Textured Soy Protein Ingredient Market Outlook, By Textured Soy Protein Isolates (2021-2030) ($MN)
76 South America Textured Soy Protein Ingredient Market Outlook, By Application (2021-2030) ($MN)
77 South America Textured Soy Protein Ingredient Market Outlook, By Food & Beverage (2021-2030) ($MN)
78 South America Textured Soy Protein Ingredient Market Outlook, By Dairy Alternatives (2021-2030) ($MN)
79 South America Textured Soy Protein Ingredient Market Outlook, By Meat Substitutes (2021-2030) ($MN)
80 South America Textured Soy Protein Ingredient Market Outlook, By Snacks & Cereals (2021-2030) ($MN)
81 South America Textured Soy Protein Ingredient Market Outlook, By Other Food & Beverages (2021-2030) ($MN)
82 South America Textured Soy Protein Ingredient Market Outlook, By Animal Feed (2021-2030) ($MN)
83 South America Textured Soy Protein Ingredient Market Outlook, By End User (2021-2030) ($MN)
84 South America Textured Soy Protein Ingredient Market Outlook, By Retail (2021-2030) ($MN)
85 South America Textured Soy Protein Ingredient Market Outlook, By Foodservice (2021-2030) ($MN)
86 Middle East & Africa Textured Soy Protein Ingredient Market Outlook, By Country (2021-2030) ($MN)
87 Middle East & Africa Textured Soy Protein Ingredient Market Outlook, By Raw Material (2021-2030) ($MN)
88 Middle East & Africa Textured Soy Protein Ingredient Market Outlook, By Soybeans (2021-2030) ($MN)
89 Middle East & Africa Textured Soy Protein Ingredient Market Outlook, By Soy Flour (2021-2030) ($MN)
90 Middle East & Africa Textured Soy Protein Ingredient Market Outlook, By Form (2021-2030) ($MN)
91 Middle East & Africa Textured Soy Protein Ingredient Market Outlook, By Textured Soy Protein Concentrates (2021-2030) ($MN)
92 Middle East & Africa Textured Soy Protein Ingredient Market Outlook, By Textured Soy Protein Isolates (2021-2030) ($MN)
93 Middle East & Africa Textured Soy Protein Ingredient Market Outlook, By Application (2021-2030) ($MN)
94 Middle East & Africa Textured Soy Protein Ingredient Market Outlook, By Food & Beverage (2021-2030) ($MN)
95 Middle East & Africa Textured Soy Protein Ingredient Market Outlook, By Dairy Alternatives (2021-2030) ($MN)
96 Middle East & Africa Textured Soy Protein Ingredient Market Outlook, By Meat Substitutes (2021-2030) ($MN)
97 Middle East & Africa Textured Soy Protein Ingredient Market Outlook, By Snacks & Cereals (2021-2030) ($MN)
98 Middle East & Africa Textured Soy Protein Ingredient Market Outlook, By Other Food & Beverages (2021-2030) ($MN)
99 Middle East & Africa Textured Soy Protein Ingredient Market Outlook, By Animal Feed (2021-2030) ($MN)
100 Middle East & Africa Textured Soy Protein Ingredient Market Outlook, By End User (2021-2030) ($MN)
101 Middle East & Africa Textured Soy Protein Ingredient Market Outlook, By Retail (2021-2030) ($MN)
102 Middle East & Africa Textured Soy Protein Ingredient Market Outlook, By Foodservice (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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