Textured Vegetable Protein Market
Textured Vegetable Protein Market Forecasts to 2030 - Global Analysis By Form (Flakes, Granules, Chunks and Other Forms), Nature (Conventional and Organic), Distribution Channel, End User and By Geography
According to Stratistics MRC, the Global Textured Vegetable Protein Market is accounted for $1.67 billion in 2024 and is expected to reach $3.23 billion by 2030 growing at a CAGR of 11.6% during the forecast period. Textured Vegetable Protein (TVP) is a highly versatile, plant-based protein made from defatted soy flour. It undergoes a process called extrusion, which transforms it into a fibrous, spongy texture that mimics the feel of meat. TVP is commonly used as a meat substitute in vegetarian and vegan dishes due to its ability to absorb flavors and seasonings well, making it ideal for a variety of recipes such as tacos, spaghetti Bolognese, or chili. It is rich in protein, low in fat, and contains no cholesterol, making it a popular choice for health-conscious individuals.
According to the Centers for Disease Control and Prevention (CDC), the prevalence of obesity in the U.S. stood at 42.4% in 2017-2018 and the estimated annual medical cost of obesity in the U.S. was recorded at US$ 147 Bn in 2008.
Market Dynamics:
Driver:
Increasing plant-based and vegan diet adoption
The growing adoption of plant-based and vegan diets is substantially boosting the demand for Textured Vegetable Protein (TVP). TVP, a soy-based product, is a versatile meat substitute that mimics the texture and appearance of animal protein, making it an ideal choice for those transitioning to plant-based eating. As more consumers seek alternatives to meat for health, ethical, and environmental reasons, TVP has gained popularity due to its high protein content, affordability, and ability to absorb flavors in a variety of dishes. This trend is further supported by increased awareness of the environmental impact of animal agriculture, which has driven both individuals and food manufacturers to explore more sustainable protein sources.
Restraint:
Processing and technology costs
The production of Textured Vegetable Protein (TVP) faces significant challenges due to high processing and technology costs. TVP is made from defatted soy flour, and its production involves several energy-intensive steps, including extrusion cooking, which requires specialized machinery and high temperatures. These processes not only demand advanced technological infrastructure but also contribute to increased operational expenses. The need for consistent quality control, research, and development to improve the texture, flavor, and nutritional profile of TVP further drives up costs. While TVP has gained popularity as an affordable, sustainable protein source, the initial capital investment in production facilities and ongoing maintenance of the necessary equipment can be a barrier, especially for smaller producers.
Opportunity:
Rising demand for clean label products
The growing consumer demand for clean label products is significantly driving the popularity of Textured Vegetable Protein (TVP) as a key ingredient in plant-based food innovations. Clean label refers to products that are minimally processed and free from artificial additives, preservatives, and unrecognizable ingredients. As more consumers seek natural, transparent food options, TVP, made from defatted soy flour, aligns well with these preferences due to its simple, recognizable composition. Rich in protein and low in fat, TVP offers an ideal meat alternative, supporting the rise of plant-based diets and clean eating trends. Its versatility in texture and ability to absorb flavors make it a preferred choice in meat substitutes, enhancing its appeal among health-conscious and environmentally aware consumers.
Threat:
Texture and taste challenges
Textured Vegetable Protein (TVP) has gained popularity as a plant-based alternative to meat due to its high protein content and affordability. However, its widespread adoption faces challenges, particularly related to texture and taste. TVP often has a fibrous, rubbery texture that doesn't always mimic the mouthfeel of meat, leading to consumer dissatisfaction. The texture can be too dry or too spongy, depending on how it is prepared, which affects the overall eating experience. TVP typically has a bland, somewhat neutral flavor that can struggle to replicate the savory umami taste of animal proteins. This lack of inherent flavor requires significant seasoning or marination to make it more appealing.
Covid-19 Impact:
The COVID-19 pandemic significantly impacted the Textured Vegetable Protein (TVP) market, disrupting both production and supply chains. As demand for plant-based alternatives surged, TVP, a key ingredient in plant-based meat products, saw increased interest. However, the pandemic caused disruptions in the supply of raw materials, especially soybeans, due to labor shortages, transportation issues, and restrictions on international trade. Many manufacturing plants faced temporary closures or reduced capacities, leading to delays and price increases. Additionally, logistics bottlenecks, particularly in global shipping, further exacerbated supply shortages. On the demand side, while the pandemic spurred higher consumer interest in plant-based foods due to health and environmental concerns, foodservice and restaurant sectors experienced declines in sales, affecting overall consumption patterns.
The Granules segment is expected to be the largest during the forecast period
Granules segment is expected to dominate the largest share over the estimated period, by improving its texture, versatility, and nutritional profile. TVP, a popular plant-based protein derived from soybeans, has long been used as a meat substitute in vegetarian and vegan diets. The granules form of TVP offers a more granular and porous texture, which mimics the fibrous structure of animal meat more closely than traditional TVP. This enhancement makes it more appealing in a wider range of culinary applications, from burgers and sausages to stir-fries and stews. Additionally, the granules absorb flavors better, providing a more authentic taste experience. Granules-based TVP is also more convenient for processing and storage, maintaining its protein content and shelf stability.
The Conventional segment is expected to have the highest CAGR during the forecast period
Conventional segment is estimated to grow at a rapid pace during the forecast period. TVP is made from defatted soy flour and is primarily used as a meat substitute due to its high protein content and ability to absorb flavors. In the conventional food industry, there has been a push to optimize its production methods through techniques like extrusion cooking and fermentation. These processes enhance TVP’s texture, making it more similar to meat in both appearance and mouthfeel, which increases its appeal to consumers. Additionally, innovations in flavoring systems and the incorporation of other plant-based ingredients like peas or lentils help diversify its taste and make it more palatable.
Region with largest share:
Asia Pacific region is poised to hold the largest share of the market throughout the extrapolated period. As plant-based diets become more popular, TVP is increasingly seen as a cost-effective and sustainable alternative to animal protein. Food manufacturers are integrating TVP into a wide range of products, from meat substitutes to snacks, as consumers seek healthier, environmentally friendly options. The expansion of fast food chains and quick-service restaurants in Asia Pacific has further driven demand for versatile, plant-based ingredients like TVP. As more people prioritize plant-based nutrition, the Asia Pacific market for TVP is expected to continue its rapid growth, supported by favorable trends in both retail and foodservice sectors.
Region with highest CAGR:
Europe region is estimated to witness the highest CAGR during the projected time frame. Supportive government policies in Europe have played a crucial role in enhancing the region’s production and consumption of textured vegetable protein (TVP). As plant-based diets gain popularity due to health, environmental, and ethical concerns, European governments are increasingly promoting alternative protein sources, such as TVP, which is made from soy and other legumes. Policies that incentivize sustainable agriculture, provide funding for research in plant-based food innovation, and support farmers in transitioning to more eco-friendly crops have driven growth in the plant protein market. Tax breaks, subsidies, and trade agreements also help reduce production costs, making TVP more affordable for consumers. These elements are boosting the regional growth.
Key players in the market
Some of the key players in Textured Vegetable Protein market include DuPont de Nemours, Inc, Emsland Group, Cargill, Inc, Kerry Group, Bunge Limited, Vitasoy International Holdings Ltd, Archer Daniels Midland Company, Olam Group, The Tofurky Company, Foodchem International Corporation, Sonic Biochem Extraction Pvt Ltd and Wilmar International Limited.
Key Developments:
In June 2023, Roquette Freres announced the opening of Roquette’s Food Innovation Center to provide formulators with a large range of capabilities, including technical and R&D support, cutting-edge equipment, labs and scale-up testing with an ultimate goal of fostering innovation and to accelerate the go-to-market of new products.
In May 2023, Univar Solutions announced that it has partnered with ICL’s Rovitaris textured plant proteins in North America. Through the agreement, Univar aims to expand plant-based protein options for food ingredients customers in the US and Canada.
In May 2023, Bunge Limited formed a strategic alliance with Nutrien Ag Solutions, the retail division of Nutrien Ltd., to support U.S. farmers in the implementation of sustainable farming practices in order to increase production of low carbon products.
In December 2022, DSM launched texturized vegetable protein that replicates meat textures, known as Vertis Textured Pea Canola Protein. Which is designed to be utilized by producers for the creation of an even more realistic and nutritionally appealing meat alternative or plant-forward application.
In February 2022, MGP Ingredients Inc., a leading provider of specialty proteins and starches, announced that it would build a technologically-advanced extrusion plant to produce its ProTerra line of texturized proteins. The new plant will be located adjacent to the company’s existing Atchison, Kansas, plant. Once online in late 2023, the new extrusion plant is expected to produce up to 10 million pounds of ProTerra per year.
Forms Covered:
• Flakes
• Granules
• Chunks
• Other Forms
Natures Covered:
• Conventional
• Organic
Distribution Channels Covered:
• Online Channel
• Convenience Stores
• Supermarkets and Hypermarkets
• Other Distribution Channels
End Users Covered:
• Business to Consumer
• Business to Business
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 2022, 2023, 2024, 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 End User 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 Textured Vegetable Protein Market, By Form
5.1 Introduction
5.2 Flakes
5.3 Granules
5.4 Chunks
5.5 Other Forms
6 Global Textured Vegetable Protein Market, By Nature
6.1 Introduction
6.2 Conventional
6.3 Organic
7 Global Textured Vegetable Protein Market, By Distribution Channel
7.1 Introduction
7.2 Online Channel
7.3 Convenience Stores
7.4 Supermarkets and Hypermarkets
7.5 Other Distribution Channels
8 Global Textured Vegetable Protein Market, By End User
8.1 Introduction
8.2 Business to Consumer
8.3 Business to Business
9 Global Textured Vegetable Protein 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 DuPont de Nemours, Inc
11.2 Emsland Group
11.3 Cargill, Inc
11.4 Kerry Group
11.5 Bunge Limited
11.6 Vitasoy International Holdings Ltd
11.7 Archer Daniels Midland Company
11.8 Olam Group
11.9 The Tofurky Company
11.10 Foodchem International Corporation
11.11 Sonic Biochem Extraction Pvt Ltd
11.12 Wilmar International Limited
List of Tables
1 Global Textured Vegetable Protein Market Outlook, By Region (2022-2030) ($MN)
2 Global Textured Vegetable Protein Market Outlook, By Form (2022-2030) ($MN)
3 Global Textured Vegetable Protein Market Outlook, By Flakes (2022-2030) ($MN)
4 Global Textured Vegetable Protein Market Outlook, By Granules (2022-2030) ($MN)
5 Global Textured Vegetable Protein Market Outlook, By Chunks (2022-2030) ($MN)
6 Global Textured Vegetable Protein Market Outlook, By Other Forms (2022-2030) ($MN)
7 Global Textured Vegetable Protein Market Outlook, By Nature (2022-2030) ($MN)
8 Global Textured Vegetable Protein Market Outlook, By Conventional (2022-2030) ($MN)
9 Global Textured Vegetable Protein Market Outlook, By Organic (2022-2030) ($MN)
10 Global Textured Vegetable Protein Market Outlook, By Distribution Channel (2022-2030) ($MN)
11 Global Textured Vegetable Protein Market Outlook, By Online Channel (2022-2030) ($MN)
12 Global Textured Vegetable Protein Market Outlook, By Convenience Stores (2022-2030) ($MN)
13 Global Textured Vegetable Protein Market Outlook, By Supermarkets and Hypermarkets (2022-2030) ($MN)
14 Global Textured Vegetable Protein Market Outlook, By Other Distribution Channels (2022-2030) ($MN)
15 Global Textured Vegetable Protein Market Outlook, By End User (2022-2030) ($MN)
16 Global Textured Vegetable Protein Market Outlook, By Business to Consumer (2022-2030) ($MN)
17 Global Textured Vegetable Protein Market Outlook, By Business to Business (2022-2030) ($MN)
18 North America Textured Vegetable Protein Market Outlook, By Country (2022-2030) ($MN)
19 North America Textured Vegetable Protein Market Outlook, By Form (2022-2030) ($MN)
20 North America Textured Vegetable Protein Market Outlook, By Flakes (2022-2030) ($MN)
21 North America Textured Vegetable Protein Market Outlook, By Granules (2022-2030) ($MN)
22 North America Textured Vegetable Protein Market Outlook, By Chunks (2022-2030) ($MN)
23 North America Textured Vegetable Protein Market Outlook, By Other Forms (2022-2030) ($MN)
24 North America Textured Vegetable Protein Market Outlook, By Nature (2022-2030) ($MN)
25 North America Textured Vegetable Protein Market Outlook, By Conventional (2022-2030) ($MN)
26 North America Textured Vegetable Protein Market Outlook, By Organic (2022-2030) ($MN)
27 North America Textured Vegetable Protein Market Outlook, By Distribution Channel (2022-2030) ($MN)
28 North America Textured Vegetable Protein Market Outlook, By Online Channel (2022-2030) ($MN)
29 North America Textured Vegetable Protein Market Outlook, By Convenience Stores (2022-2030) ($MN)
30 North America Textured Vegetable Protein Market Outlook, By Supermarkets and Hypermarkets (2022-2030) ($MN)
31 North America Textured Vegetable Protein Market Outlook, By Other Distribution Channels (2022-2030) ($MN)
32 North America Textured Vegetable Protein Market Outlook, By End User (2022-2030) ($MN)
33 North America Textured Vegetable Protein Market Outlook, By Business to Consumer (2022-2030) ($MN)
34 North America Textured Vegetable Protein Market Outlook, By Business to Business (2022-2030) ($MN)
35 Europe Textured Vegetable Protein Market Outlook, By Country (2022-2030) ($MN)
36 Europe Textured Vegetable Protein Market Outlook, By Form (2022-2030) ($MN)
37 Europe Textured Vegetable Protein Market Outlook, By Flakes (2022-2030) ($MN)
38 Europe Textured Vegetable Protein Market Outlook, By Granules (2022-2030) ($MN)
39 Europe Textured Vegetable Protein Market Outlook, By Chunks (2022-2030) ($MN)
40 Europe Textured Vegetable Protein Market Outlook, By Other Forms (2022-2030) ($MN)
41 Europe Textured Vegetable Protein Market Outlook, By Nature (2022-2030) ($MN)
42 Europe Textured Vegetable Protein Market Outlook, By Conventional (2022-2030) ($MN)
43 Europe Textured Vegetable Protein Market Outlook, By Organic (2022-2030) ($MN)
44 Europe Textured Vegetable Protein Market Outlook, By Distribution Channel (2022-2030) ($MN)
45 Europe Textured Vegetable Protein Market Outlook, By Online Channel (2022-2030) ($MN)
46 Europe Textured Vegetable Protein Market Outlook, By Convenience Stores (2022-2030) ($MN)
47 Europe Textured Vegetable Protein Market Outlook, By Supermarkets and Hypermarkets (2022-2030) ($MN)
48 Europe Textured Vegetable Protein Market Outlook, By Other Distribution Channels (2022-2030) ($MN)
49 Europe Textured Vegetable Protein Market Outlook, By End User (2022-2030) ($MN)
50 Europe Textured Vegetable Protein Market Outlook, By Business to Consumer (2022-2030) ($MN)
51 Europe Textured Vegetable Protein Market Outlook, By Business to Business (2022-2030) ($MN)
52 Asia Pacific Textured Vegetable Protein Market Outlook, By Country (2022-2030) ($MN)
53 Asia Pacific Textured Vegetable Protein Market Outlook, By Form (2022-2030) ($MN)
54 Asia Pacific Textured Vegetable Protein Market Outlook, By Flakes (2022-2030) ($MN)
55 Asia Pacific Textured Vegetable Protein Market Outlook, By Granules (2022-2030) ($MN)
56 Asia Pacific Textured Vegetable Protein Market Outlook, By Chunks (2022-2030) ($MN)
57 Asia Pacific Textured Vegetable Protein Market Outlook, By Other Forms (2022-2030) ($MN)
58 Asia Pacific Textured Vegetable Protein Market Outlook, By Nature (2022-2030) ($MN)
59 Asia Pacific Textured Vegetable Protein Market Outlook, By Conventional (2022-2030) ($MN)
60 Asia Pacific Textured Vegetable Protein Market Outlook, By Organic (2022-2030) ($MN)
61 Asia Pacific Textured Vegetable Protein Market Outlook, By Distribution Channel (2022-2030) ($MN)
62 Asia Pacific Textured Vegetable Protein Market Outlook, By Online Channel (2022-2030) ($MN)
63 Asia Pacific Textured Vegetable Protein Market Outlook, By Convenience Stores (2022-2030) ($MN)
64 Asia Pacific Textured Vegetable Protein Market Outlook, By Supermarkets and Hypermarkets (2022-2030) ($MN)
65 Asia Pacific Textured Vegetable Protein Market Outlook, By Other Distribution Channels (2022-2030) ($MN)
66 Asia Pacific Textured Vegetable Protein Market Outlook, By End User (2022-2030) ($MN)
67 Asia Pacific Textured Vegetable Protein Market Outlook, By Business to Consumer (2022-2030) ($MN)
68 Asia Pacific Textured Vegetable Protein Market Outlook, By Business to Business (2022-2030) ($MN)
69 South America Textured Vegetable Protein Market Outlook, By Country (2022-2030) ($MN)
70 South America Textured Vegetable Protein Market Outlook, By Form (2022-2030) ($MN)
71 South America Textured Vegetable Protein Market Outlook, By Flakes (2022-2030) ($MN)
72 South America Textured Vegetable Protein Market Outlook, By Granules (2022-2030) ($MN)
73 South America Textured Vegetable Protein Market Outlook, By Chunks (2022-2030) ($MN)
74 South America Textured Vegetable Protein Market Outlook, By Other Forms (2022-2030) ($MN)
75 South America Textured Vegetable Protein Market Outlook, By Nature (2022-2030) ($MN)
76 South America Textured Vegetable Protein Market Outlook, By Conventional (2022-2030) ($MN)
77 South America Textured Vegetable Protein Market Outlook, By Organic (2022-2030) ($MN)
78 South America Textured Vegetable Protein Market Outlook, By Distribution Channel (2022-2030) ($MN)
79 South America Textured Vegetable Protein Market Outlook, By Online Channel (2022-2030) ($MN)
80 South America Textured Vegetable Protein Market Outlook, By Convenience Stores (2022-2030) ($MN)
81 South America Textured Vegetable Protein Market Outlook, By Supermarkets and Hypermarkets (2022-2030) ($MN)
82 South America Textured Vegetable Protein Market Outlook, By Other Distribution Channels (2022-2030) ($MN)
83 South America Textured Vegetable Protein Market Outlook, By End User (2022-2030) ($MN)
84 South America Textured Vegetable Protein Market Outlook, By Business to Consumer (2022-2030) ($MN)
85 South America Textured Vegetable Protein Market Outlook, By Business to Business (2022-2030) ($MN)
86 Middle East & Africa Textured Vegetable Protein Market Outlook, By Country (2022-2030) ($MN)
87 Middle East & Africa Textured Vegetable Protein Market Outlook, By Form (2022-2030) ($MN)
88 Middle East & Africa Textured Vegetable Protein Market Outlook, By Flakes (2022-2030) ($MN)
89 Middle East & Africa Textured Vegetable Protein Market Outlook, By Granules (2022-2030) ($MN)
90 Middle East & Africa Textured Vegetable Protein Market Outlook, By Chunks (2022-2030) ($MN)
91 Middle East & Africa Textured Vegetable Protein Market Outlook, By Other Forms (2022-2030) ($MN)
92 Middle East & Africa Textured Vegetable Protein Market Outlook, By Nature (2022-2030) ($MN)
93 Middle East & Africa Textured Vegetable Protein Market Outlook, By Conventional (2022-2030) ($MN)
94 Middle East & Africa Textured Vegetable Protein Market Outlook, By Organic (2022-2030) ($MN)
95 Middle East & Africa Textured Vegetable Protein Market Outlook, By Distribution Channel (2022-2030) ($MN)
96 Middle East & Africa Textured Vegetable Protein Market Outlook, By Online Channel (2022-2030) ($MN)
97 Middle East & Africa Textured Vegetable Protein Market Outlook, By Convenience Stores (2022-2030) ($MN)
98 Middle East & Africa Textured Vegetable Protein Market Outlook, By Supermarkets and Hypermarkets (2022-2030) ($MN)
99 Middle East & Africa Textured Vegetable Protein Market Outlook, By Other Distribution Channels (2022-2030) ($MN)
100 Middle East & Africa Textured Vegetable Protein Market Outlook, By End User (2022-2030) ($MN)
101 Middle East & Africa Textured Vegetable Protein Market Outlook, By Business to Consumer (2022-2030) ($MN)
102 Middle East & Africa Textured Vegetable Protein Market Outlook, By Business to Business (2022-2030) ($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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