Soy Protein Market Report, by Source (Conventional and Organic), by Product Type (Isolates, Concentrates, and Others (Hydrolysates/Flour, etc.)), by Application (Food & Beverage, Pharmaceutical, Cosmetics, and Others (Adhesives, Plastics, etc.)), and by Region (North America, Latin America, Asia Pacific, Europe, and Middle East & Africa) – Size, Share, Outlook, and Opportunity Analysis, 2018-2026
- Report code : CMI102592 |
- Industry :
Food Ingredients
- Published On : Apr 2019 |
- Pages : 130 Pages |
- Format :
Global Soy Protein Market – Insights
Soy protein is isolated from soybean and it is available as isolates, concentrates, and flour. Soy proteins have various health benefits such as lowering cholesterol and lowering blood pressure. Moreover, soy protein is a rich source of omega-3, vitamins, and minerals. The global soy protein market is projected to reach US$ 12.01 by the end of 2027, at a CAGR of 5.59% over the forecast period (2019-2027), attributing to increasing awareness regarding importance of protein intake in daily life.
On the basis of source, soy proteins are categorized into organic and conventional proteins. In 2018, although conventional segment held dominant position in the market, organic segment is expected to grow significantly during the forecast period, owing to increasing awareness regarding the use of organic products such as cosmetics, food products, beverages, and others.
Among applications, food and beverage segment held dominant position in the soy protein market in 2018, owing to the use of soy protein in the manufacturing of various food processing industries such as dairy, animal feed, bakery, confectionery, meat additives, functional food, and beverages among others, which in turn is fueling growth of the global soy protein market. However, ban on soy proteins of genetically modified (GM) origin is one of the major factors restraining growth of the global soy protein market.
Soy protein-based cosmetics consisting of hydrolyzed soy proteins are safe for use in case of body, hand, face and neck products, hair care products, skin care products, mascara, and others. Few soy protein-based cosmetics include Biotique’s Bio Soya Protein Fresh Nourishing Shampoo, Genesis soy protein shampoo, and others.
Key players operating in the global soy protein market are adopting various strategies such as mergers and acquisitions, collaborations, and product launches to sustain their market position. For instance, in November 2017, Midwest Ag Enterprises launched its soy protein feed as a fishmeal.
The global soy protein market is expected to be valued at US$ 12.01 billion by 2027 and is expected to register a CAGR of 5.59% in terms of revenue over the forecast period (2019 – 2027).
Figure 1. Global Soy Protein Market Share (%), By Region, 2018
Source: Coherent Market Insights, 2018-19
In food & beverages segment, dairy-based applications are increasing due to the use of soy protein for producing soy milk. Soy milk contains lower amount of saturated fats as compared to cow milk and it is both cholesterol and fat free. Moreover, soy protein is used in bakery and confectionery industry, owing to longer shelf life of soy proteins (flour).
Among product type, isolates segment accounted for the largest market share in 2018, owing to increasing awareness about healthy living. Moreover, soy protein isolates are plant-based protein supplements that contain amino acids and are used as health supplements for muscle gain.
Among regions, Asia Pacific held dominant position in the global soy protein market in 2018, owing to increasing production of soybean in this region. As per The Soybean Processors Association of India, in 2014-15, in China, the total production of soybean was 12.69 million metric tons, which increased and reached 15.90 million metric tons in 2018-19. Production of soy protein is done by processing soybean meal and therefore, increasing production of soybean in this region will make it easier for the manufacturers to fulfill the soy protein demand. Therefore, demand for soybean-based products such as soy proteins is expected to boost growth of the market in this region during the forecast period.
Figure 2. Global Soy Protein Market Share (%), By Product Type, 2018
Source: Coherent Market Insights, 2018-19
Major players operating in the global soy protein market include Archer Daniels Midland Company, Cargill Inc., DowDuPont Inc., Imcopa Food Ingredients B.V., CHS Inc., Crown Soya Protein Group, Wilmer International Ltd., Foodchem, Kerry Ingredients Inc., Burcon NutraScience Corporation, and others.
Soy protein has high health benefits such as it lowers cholesterol levels and is fat free. Moreover, organic soy protein-based products such as cosmetics and food items attract health conscious people. As per the World Bank data, in 2012, the world’s health expenditure was 9.41% of the global GDP, which increased and reached 9.90% in 2015. This exhibits that people are ready to pay high prices for better health and therefore, it is expected to boost growth of the organic segment in the soy protein market during the forecast period.
Market Dynamics
Among applications, food & beverages segment held the largest market share in 2018, owing to longer shelf life of soy proteins and as it is a direct source of vitamins, minerals, and omega-3. Moreover, cosmetics and dairy industry are observing various soy protein based trends. For instance, soy protein-based milk, ice-creams, protein powder, cookies, shampoos, conditioners, and others are among the latest trends and are expected to attract users during the forecast period.
Among source, conventional segment held the largest market share in 2018, owing to its lower price as compared to organic soy proteins. Therefore, organic soy proteins are not affordablt by all. Moreover, organic-based soy protein products are expected to witness significant growth during the forecast period, owing to increasing awareness about human health.
Among regions, Asia Pacific region held dominant position in the soy As per the U.S. FDA, in 2016-17, in China, the soybean production was 13,644 million metric tons, which increased and reached 15,900 million metric tons by March 2019. Increasing soybean production in the region is expected to drive growth of the soy protein market in Asia Pacific during the forecast period.
Key features of the study:
- This report provides in-depth analysis of soy protein market and provides market size (US$ Bn) and compound annual growth rate (CAGR %) for the forecast period (2019 – 2027), considering 2018 as the base year
- It elucidates potential revenue opportunity across different segments and explains attractive investment proposition matrix for this market
- This study also provides key insights into market drivers, restraints, opportunities, new product launches or approval, regional outlook, and competitive strategies adopted by the leading players
- It profiles leading players in the global soy protein market based on the following parameters – company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments and strategies, and future plans
- Key companies covered as a part of this study include Archer Daniels Midland Company, Cargill Inc., DowDuPont Inc., Imcopa Food Ingredients B.V., CHS Inc., Crown Soya Protein Group, Wilmer International Ltd., Foodchem, Kerry Ingredients Inc., Burcon NutraScience Corporation, and others
- Insights from this report would allow marketers and the management authorities of the companies to make an informed decision regarding their future product launches, technology up-gradation, market expansion, and marketing tactics
- The global soy protein market report caters to various stakeholders in this industry including investors, suppliers, soy protein manufacturers, distributors, new entrants, and financial analysts
- Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the soy protein market
Detailed Segmentation:
- Global Soy Protein Market, By Source:
- Organic
- Conventional
- Global Soy Protein Market, By Product Type:
- Isolates
- Concentrates
- Others (Hydrolysates/Flour, etc.)
- Global Soy Protein Market, By Application:
- Food & Beverage
- Pharmaceutical
- Cosmetics
- Others (Adhesives, Plastics, etc.)
- Global Soy Protein market, By Region:
- North America
- U.S.
- By Source:
- Organic
- Conventional
- By Product Type:
- Isolates
- Concentrates
- Others
- By Application:
- Food & Beverage
- Pharmaceutical
- Cosmetics
- Others
- Canada
- By Source:
- Organic
- Conventional
- By Product Type:
- Isolates
- Concentrates
- Others
- By Application:
- Food & Beverage
- Pharmaceutical
- Cosmetics
- Others
- Europe
- U.K.
- By Source:
- Organic
- Conventional
- By Product Type:
- Isolates
- Concentrates
- Others
- By Application:
- Food & Beverage
- Pharmaceutical
- Cosmetics
- Others
- Germany
- By Source:
- Organic
- Conventional
- By Product Type:
- Isolates
- Concentrates
- Others
- By Application:
- Food & Beverage
- Pharmaceutical
- Cosmetics
- Others
- Italy
- By Source:
- Organic
- Conventional
- By Product Type:
- Isolates
- Concentrates
- Others
- By Application:
- Food & Beverage
- Pharmaceutical
- Cosmetics
- Others
- France
- By Source:
- Organic
- Conventional
- By Product Type:
- Isolates
- Concentrates
- Others
- By Application:
- Food & Beverage
- Pharmaceutical
- Cosmetics
- Others
- Russia
- By Source:
- Organic
- Conventional
- By Product Type:
- Isolates
- Concentrates
- Others
- By Application:
- Food & Beverage
- Pharmaceutical
- Cosmetics
- Others
- Rest of Europe
- By Source:
- Organic
- Conventional
- By Product Type:
- Isolates
- Concentrates
- Others
- By Application:
- Food & Beverage
- Pharmaceutical
- Cosmetics
- Others
- Asia Pacific
- China
- By Source:
- Organic
- Conventional
- By Product Type:
- Isolates
- Concentrates
- Others
- By Application:
- Food & Beverage
- Pharmaceutical
- Cosmetics
- Others
- India
- By Source:
- Organic
- Conventional
- By Product Type:
- Isolates
- Concentrates
- Others
- By Application:
- Food & Beverage
- Pharmaceutical
- Cosmetics
- Others
- Japan
- By Source:
- Organic
- Conventional
- By Product Type:
- Isolates
- Concentrates
- Others
- By Application:
- Food & Beverage
- Pharmaceutical
- Cosmetics
- Others
- ASEAN
- By Source:
- Organic
- Conventional
- By Product Type:
- Isolates
- Concentrates
- Others
- By Application:
- Food & Beverage
- Pharmaceutical
- Cosmetics
- Others
- Australia
- By Source:
- Organic
- Conventional
- By Product Type:
- Isolates
- Concentrates
- Others
- By Application:
- Food & Beverage
- Pharmaceutical
- Cosmetics
- Others
- South Korea
- By Source:
- Organic
- Conventional
- By Product Type:
- Isolates
- Concentrates
- Others
- By Application:
- Food & Beverage
- Pharmaceutical
- Cosmetics
- Others
- Rest of Asia Pacific
- By Source:
- Organic
- Conventional
- By Product Type:
- Isolates
- Concentrates
- Others
- By Application:
- Food & Beverage
- Pharmaceutical
- Cosmetics
- Others
- Latin America
- Brazil
- By Source:
- Organic
- Conventional
- By Product Type:
- Isolates
- Concentrates
- Others
- By Application:
- Food & Beverage
- Pharmaceutical
- Cosmetics
- Others
- Mexico
- By Source:
- Organic
- Conventional
- By Product Type:
- Isolates
- Concentrates
- Others
- By Application:
- Food & Beverage
- Pharmaceutical
- Cosmetics
- Others
- Argentina
- By Source:
- Organic
- Conventional
- By Product Type:
- Isolates
- Concentrates
- Others
- By Application:
- Food & Beverage
- Pharmaceutical
- Cosmetics
- Others
- Rest of Latin America
- By Source:
- Organic
- Conventional
- By Product Type:
- Isolates
- Concentrates
- Others
- By Application:
- Food & Beverage
- Pharmaceutical
- Cosmetics
- Others
- Middle East & Africa
- Middle East
- By Source:
- Organic
- Conventional
- By Product Type:
- Isolates
- Concentrates
- Others
- By Application:
- Food & Beverage
- Pharmaceutical
- Cosmetics
- Others
- Africa
- By Source:
- Organic
- Conventional
- By Product Type:
- Isolates
- Concentrates
- Others
- By Application:
- Food & Beverage
- Pharmaceutical
- Cosmetics
- Others
- Company Profiles
- Archer Daniels Midland Company *
- Company Overview
- Product Portfolio
- Financial Performance
- Key Strategies
- Recent Developments
- Future Plans
- Cargill Inc.
- DowDuPont Inc.
- Imcopa Food Ingredients B.V.
- CHS Inc.
- Crown Soya Protein Group
- Wilmer International Ltd.
- Foodchem
- Kerry Ingredients Inc.,
- Burcon NutraScience Corporation
“*” marked represents similar segmentation in other categories in the respective section.
Table of Contents
- Research Objectives and Assumptions
- Research Objectives
- Assumptions
- Abbreviations
- Market Purview
- Report Description
- Market Definition and Scope
- Executive Summary
- Market Snippet, By Source
- Market Snippet, By Product Type
- Market Snippet, By Application
- Market Snippet, By Region
- Coherent Opportunity Map (COM)
- Market Dynamics, Regulations, and Trends Analysis
- Market Dynamics
- Drivers
- Restraints
- Market Opportunities
- Regulatory Scenario
- Industry Trend
- PEST Analysis
- Porter’s Analysis
- Mergers and Acquisitions
- New Product Approvals/Launch
- Cost Tier Down Analysis
- Global Soy Protein Market, By Source, 2017- 2027 (US$ Bn)
- Introduction
- Market Share Analysis, 2018 and 2026 (%)
- Y-o-Y Growth Analysis, 2019 - 2026
- Segment Trends
- Organic
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019 - 2026, (US$ Bn)
- Conventional
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019 - 2026, (US$ Bn)
- Global Soy Protein Market, By Product Type, 2017- 2027 (US$ Bn)
- Introduction
- Market Share Analysis, 2018 and 2026 (%)
- Y-o-Y Growth Analysis, 2019 - 2026
- Segment Trends
- Isolates
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019 - 2027, (US$ Bn)
- Concentrates
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019 - 2027, (US$ Bn)
- Others
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019 - 2027, (US$ Bn)
- Global Soy Protein Market, By Application, 2017- 2027 (US$ Bn)
- Introduction
- Market Share Analysis, 2018 and 2026 (%)
- Y-o-Y Growth Analysis, 2019 - 2026
- Segment Trends
- Food & Beverages
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019 - 2027, (US$ Bn)
- Pharmaceutical
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019 - 2027, (US$ Bn)
- Cosmetics
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019 - 2027, (US$ Bn)
- Others
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019 - 2027, (US$ Bn)
- Global Soy Protein Market, By Region, 2017- 2027 (US$ Bn)
- Introduction
- Market Share Analysis, By Region, 2018 and 2026 (%)
- Y-o-Y Growth Analysis, For Regions, 2019 - 2027
- North America
- Market Share Analysis, By Country, 2018 and 2026 (%)
- Y-o-Y Growth Analysis, By Country, 2019 - 2027
- U.S.
- Country Trends
- Market Size and Forecast, By Source, 2017- 2027 (US$ Bn)
- Market Size and Forecast, By Product Type, 2017- 2027 (US$ Bn)
- Market Size and Forecast, By Application, 2017- 2027 (US$ Bn)
- Canada
- Country Trends
- Market Size and Forecast, By Source, 2017- 2027 (US$ Bn)
- Market Size and Forecast, By Product Type, 2017- 2027 (US$ Bn)
- Market Size and Forecast, By Application, 2017- 2027 (US$ Bn)
- Europe
- Market Share Analysis, By Country, 2018 and 2026 (%)
- Y-o-Y Growth Analysis, By Country, 2019 - 2027
- U.K.
- Country Trends
- Market Size and Forecast, By Source, 2017- 2027 (US$ Bn)
- Market Size and Forecast, By Product Type, 2017- 2027 (US$ Bn)
- Market Size and Forecast, By Application, 2017- 2027 (US$ Bn)
- Germany
- Country Trends
- Market Size and Forecast, By Source, 2017- 2027 (US$ Bn)
- Market Size and Forecast, By Product Type, 2017- 2027 (US$ Bn)
- Market Size and Forecast, By Application, 2017- 2027 (US$ Bn)
- Italy
- Country Trends
- Market Size and Forecast, By Source, 2017- 2027 (US$ Bn)
- Market Size and Forecast, By Product Type, 2017- 2027 (US$ Bn)
- Market Size and Forecast, By Application, 2017- 2027 (US$ Bn)
- France
- Country Trends
- Market Size and Forecast, By Source, 2017- 2027 (US$ Bn)
- Market Size and Forecast, By Product Type, 2017- 2027 (US$ Bn)
- Market Size and Forecast, By Application, 2017- 2027 (US$ Bn)
- Russia
- Country Trends
- Market Size and Forecast, By Source, 2017- 2027 (US$ Bn)
- Market Size and Forecast, By Product Type, 2017- 2027 (US$ Bn)
- Market Size and Forecast, By Application, 2017- 2027 (US$ Bn)
- Rest of Europe
- Country Trends
- Market Size and Forecast, By Source, 2017- 2027 (US$ Bn)
- Market Size and Forecast, By Product Type, 2017- 2027 (US$ Bn)
- Market Size and Forecast, By Application, 2017- 2027 (US$ Bn)
- Asia Pacific
- Market Share Analysis, By Country, 2018 and 2026 (%)
- Y-o-Y Growth Analysis, By Country, 2019 - 2027
- China
- Country Trends
- Market Size and Forecast, By Source, 2017- 2027 (US$ Bn)
- Market Size and Forecast, By Product Type, 2017- 2027 (US$ Bn)
- Market Size and Forecast, By Application, 2017- 2027 (US$ Bn)
- India
- Country Trends
- Market Size and Forecast, By Source, 2017- 2027 (US$ Bn)
- Market Size and Forecast, By Product Type, 2017- 2027 (US$ Bn)
- Market Size and Forecast, By Application, 2017- 2027 (US$ Bn)
- Japan
- Country Trends
- Market Size and Forecast, By Source, 2017- 2027 (US$ Bn)
- Market Size and Forecast, By Product Type, 2017- 2027 (US$ Bn)
- Market Size and Forecast, By Application, 2017- 2027 (US$ Bn)
- ASEAN
- Country Trends
- Market Size and Forecast, By Source, 2017- 2027 (US$ Bn)
- Market Size and Forecast, By Product Type, 2017- 2027 (US$ Bn)
- Market Size and Forecast, By Application, 2017- 2027 (US$ Bn)
- Australia
- Country Trends
- Market Size and Forecast, By Source, 2017- 2027 (US$ Bn)
- Market Size and Forecast, By Product Type, 2017- 2027 (US$ Bn)
- Market Size and Forecast, By Application, 2017- 2027 (US$ Bn)
- South Korea
- Country Trends
- Market Size and Forecast, By Source, 2017- 2027 (US$ Bn)
- Market Size and Forecast, By Product Type, 2017- 2027 (US$ Bn)
- Market Size and Forecast, By Application, 2017- 2027 (US$ Bn)
- Rest of Asia Pacific
- Country Trends
- Market Size and Forecast, By Source, 2017- 2027 (US$ Bn)
- Market Size and Forecast, By Product Type, 2017- 2027 (US$ Bn)
- Market Size and Forecast, By Application, 2017- 2027 (US$ Bn)
- Latin America
- Market Share Analysis, By Country, 2018 and 2026 (%)
- Y-o-Y Growth Analysis, By Country, 2019 - 2027
- Brazil
- Country Trends
- Market Size and Forecast, By Source, 2017- 2027 (US$ Bn)
- Market Size and Forecast, By Product Type, 2017- 2027 (US$ Bn)
- Market Size and Forecast, By Application, 2017- 2027 (US$ Bn)
- Mexico
- Country Trends
- Market Size and Forecast, By Source, 2017- 2027 (US$ Bn)
- Market Size and Forecast, By Product Type, 2017- 2027 (US$ Bn)
- Market Size and Forecast, By Application, 2017- 2027 (US$ Bn)
- Argentina
- Country Trends
- Market Size and Forecast, By Source, 2017- 2027 (US$ Bn)
- Market Size and Forecast, By Product Type, 2017- 2027 (US$ Bn)
- Market Size and Forecast, By Application, 2017- 2027 (US$ Bn)
- Rest of Latin America
- Country Trends
- Market Size and Forecast, By Source, 2017- 2027 (US$ Bn)
- Market Size and Forecast, By Product Type, 2017- 2027 (US$ Bn)
- Market Size and Forecast, By Application, 2017- 2027 (US$ Bn)
- Middle East & Africa
- Market Share Analysis, By Country, 2018 and 2026 (%)
- Y-o-Y Growth Analysis, By Country, 2019 - 2027
- Middle East
- Country Trends
- Market Size and Forecast, By Source, 2017- 2027 (US$ Bn)
- Market Size and Forecast, By Product Type, 2017- 2027 (US$ Bn)
- Market Size and Forecast, By Application, 2017- 2027 (US$ Bn)
- Africa
- Country Trends
- Market Size and Forecast, By Source, 2017- 2027 (US$ Bn)
- Market Size and Forecast, By Product Type, 2017- 2027 (US$ Bn)
- Market Size and Forecast, By Application, 2017- 2027 (US$ Bn)
- Competitive Landscape
- Heat Map Analysis
- Market Share Analysis (3x3 Matrix)
- Company Profiles
- Archer Daniels Midland Company
- Company Overview
- Product Portfolio
- Financial Performance
- Recent Developments/Updates
- Future Plans
- Cargill Inc.
- Company Overview
- Product Portfolio
- Financial Performance
- Recent Developments/Updates
- Future Plans
- DowDuPont Inc.
- Company Overview
- Product Portfolio
- Financial Performance
- Recent Developments/Updates
- Future Plans
- Imcopa Food Ingredients B.V.
- Company Overview
- Product Portfolio
- Financial Performance
- Recent Developments/Updates
- Future Plans
- CHS Inc.
- Company Overview
- Product Portfolio
- Financial Performance
- Recent Developments/Updates
- Future Plans
- Crown Soya Protein Group
- Company Overview
- Product Portfolio
- Financial Performance
- Recent Developments/Updates
- Future Plans
- Wilmer International Ltd.
- Company Overview
- Product Portfolio
- Financial Performance
- Recent Developments/Updates
- Future Plans
- Foodchem
- Company Overview
- Product Portfolio
- Financial Performance
- Recent Developments/Updates
- Future Plans
- Kerry Ingredients Inc.
- Company Overview
- Product Portfolio
- Financial Performance
- Recent Developments/Updates
- Future Plans
- Burcon NutraScience Corporation
- Company Overview
- Product Portfolio
- Financial Performance
- Recent Developments/Updates
- Future Plans
- Section
- References
- Research Methodology
- About us and Sales Contact
* Browse 25 market data tables* and 15 figures* on “Soy Protein Market” - Global forecast to 2027.
Research Methodology
Coherent Market Insights followsa comprehensive research methodology focused on providing the most precise market analysis. The company leverages a data triangulation model which helps company to gauge the market dynamics and provide accurate estimates. Key components of the research methodologies followed for all our market reports include:
- Primary Research (Trade Surveys and Experts Interviews)
- Desk Research
- Proprietor Data Analytics Model
In addition to this, Coherent Market Insights has access to a wide range of the regional and global reputed paid data bases, which helps the company to figure out the regional and global market trends and dynamics. The company analyses the industry from the 360 Degree Perspective i.e. from the Supply Side and Demand Side which enables us to provide granular details of the entire ecosystem for each study. Finally, a Top-Down approach and Bottom-Up approach is followed to arrive at ultimate research findings.
Coherent Market Insights desk research is based on a principle set of research techniques:
- National level desk research: It Includes research analysis of regional players, regional regulatory bodies, regional trade associations, and regional organization.
- Multinational level desk research: The research team keeps a track of multinational players, global regulatory bodies, global trade associations, and global organization.
Coherent Market Insights has a large amount of in-house repository of industry database. This is leveraged as a burner for initiating a new research study. Key secondary sources include:
- Governmental bodies, National and international social welfare institutions, and organizations creating economic policies among others.
- Trade association, National and international media and trade press.
- Company Annual reports, SEC filings, Corporate Presentations, press release, news, and specification sheet of manufacturers, system integrators, brick and mortar - distributors and retailers, and third party online commerce players.
- Scientific journals, and other technical magazines and whitepapers.
Preliminary Data Mining
The raw data is obtained through the secondary findings, in house repositories, and trade surveys. It is then filtered to ensure that the relevant information including industry dynamics, trends, and outlook is retained for further research process.
Data Standardization:
Holistic approach is used to ensure that the granular and uncommon parameters are taken into consideration to ensure accurate results. The information from the paid databases are further combined to the raw data in order to standardize it.
Coherent Statistical model
We arrive at our final research findings through simulation models. Coherent Data Analytics Model is a statistical tool that helps company to forecast market estimates. Few of the parameters considered as a part of the statistical model include:
- Micro-economic indicators
- Macro-economic indicators
- Environmental indicators
- Socio-political indicators
- Technology indicators
Data Processing
Once the findings are derived from the statistical model, large volume of data is process to confirm accurate research results. Data analytics and processing tools are adopted to process large chunk of collected informative data. In case, a client customizes the study during the process, the research finding till then are benchmarked, and the process for new research requirement is initiated again.
Data Validation
This is the most crucial stage of the research process. Primary Interviews are conducted to validate the data and analysis. This helps in achieving the following purposes:
- It provides first-hand information on the market dynamics, outlook, and growth parameters.
- Industry experts validates the estimates which helps the company to cement the on-going research study.
- Primary research includes online surveys, face-to face interviews, and telephonic interviews.
The primary research is conducted with the ecosystem players including, but not limited to:
- Raw Material Suppliers
- Manufacturers
- System Integrators
- Distributors
- End-users
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