Turmeric Market Size, Type Analysis, Application Analysis, End-Use, Industry Analysis, Regional Outlook, Competitive Strategies And Forecasts, 2023-2032
- Report ID: ME_005284
- Format: Electronic (PDF)
- Publish Type: Publish
- Number of Pages: 250
Market Snapshot
Source: Market Expertz
| Study Period | 2019-2032 |
| Base Year | 2023 |
| Forcast Year | 2023-2032 |
| CAGR | 6.55 |
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Turmeric Market Analysis Report 2023-2032
The Turmeric Market is projected to exhibit a Compound Annual Growth Rate (CAGR) of 6.78% between 2022 and 2032. This market is anticipated to experience an incremental growth of USD 842.19 million during this period. The expansion of the turmeric market is influenced by various factors, including the increasing awareness about the health benefits of turmeric, the rising demand for natural and organic ingredients in the food and beverage industry, and its applications in traditional medicine systems. Turmeric, scientifically known as Curcuma longa, is a flowering plant with a vibrant yellow-orange root that contains the active compound curcumin. Curcumin is known for its antioxidant, anti-inflammatory, and potential therapeutic properties.
Turmeric Market Overview
Drivers The growing recognition of turmeric's health benefits is a key driver for the market's growth. Turmeric's active compound, curcumin, is associated with numerous health advantages, including anti-inflammatory effects, potential cancer-fighting properties, and its role in aiding digestion. These attributes have led to an increased consumer demand for turmeric-based products, such as dietary supplements, herbal teas, and functional foods.
Furthermore, the shift towards natural and organic ingredients in the food and beverage industry has significantly contributed to the rise in the turmeric market. Consumers are seeking products with clean labels and are more inclined towards incorporating natural ingredients like turmeric into their diets. This trend has driven food manufacturers to include turmeric in various products, such as sauces, beverages, and snacks.
Trends One prominent trend shaping the turmeric market is its integration into skincare and cosmetic products. Curcumin's antioxidant and anti-inflammatory properties are being harnessed in the beauty industry to develop natural skincare formulations. Turmeric-based face masks, creams, and serums are gaining popularity for their potential to promote healthy and radiant skin.
Moreover, the adoption of turmeric in traditional medicine systems, such as Ayurveda and Traditional Chinese Medicine (TCM), is also contributing to the market's growth. These ancient practices emphasize the holistic use of turmeric for various ailments, further driving its demand.
Restraints A significant challenge faced by the turmeric market is the potential variation in the curcumin content of turmeric products. The curcumin content can vary based on factors such as the turmeric variety, growing conditions, and processing methods. This inconsistency poses a challenge in maintaining standardized curcumin levels in products, impacting their efficacy and consumer trust.
Additionally, the limited cultivation of turmeric in certain regions, climatic dependencies, and susceptibility to pests and diseases can lead to fluctuations in the supply of high-quality turmeric, potentially affecting market stability.
Turmeric Market Segmentation By Application The food and beverage segment is expected to witness substantial growth during the forecast period. Turmeric's versatile application in the food industry, ranging from culinary spice to functional ingredient, is driving its inclusion in various food and beverage products. Turmeric's natural coloring and potential health benefits make it a sought-after choice for manufacturers looking to enhance the appeal and nutritional value of their offerings.
Turmeric's application in beverages, such as turmeric-infused teas and wellness drinks, is also gaining momentum as consumers seek healthier alternatives to traditional beverages. Additionally, its incorporation into sauces, soups, and ready-to-eat meals is expanding the product portfolio of food companies.
Turmeric Market Segmentation By Type The organic turmeric segment is experiencing rapid growth due to increasing consumer preferences for organic and natural products. Consumers are seeking foods and ingredients that are free from synthetic pesticides and chemicals, and organic turmeric aligns with this demand. The perception of organic turmeric as being of higher quality and healthier is driving its adoption across various applications.
Regional Overview:
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Request pdf SampleIndia, in particular, dominates the global turmeric market due to its large-scale cultivation and export. The presence of established players in the region and the integration of turmeric into various aspects of daily life contribute to its consistent market growth.
Turmeric Market Customer Landscape The turmeric market analysis includes insights into the adoption cycle of turmeric and its products, catering from early adopters to mainstream consumers. The report focuses on consumer preferences, purchase behavior, and factors influencing price sensitivity, aiding companies in formulating effective growth strategies.
Major Turmeric Market Companies Companies in the turmeric market are implementing diverse strategies, including partnerships, acquisitions, product launches, and geographical expansions, to strengthen their market presence.
Example Turmeric Companies:
- Turmeric Farms Ltd
- Nature's Best Ingredients
- Spice Harmony Co.
- McCormick & Company Inc.
- Archer Daniels Midland Company
- Synthite Industries Ltd.
- Curcumex GmbH
- Starwest Botanicals Inc.
- Nani Agro Foods
- Everest Spices
- Olam International Ltd.
Segment Overview The turmeric market report forecasts revenue growth globally, regionally, and by country levels, offering insights into emerging trends and opportunities from 2019 to 2032.
- Application Outlook (USD Million, 2019 - 2032)
- Culinary Applications
- Dietary Supplements
- Cosmetics and Skincare
- Traditional Medicine
- Type Outlook (USD Million, 2019 - 2032)
- Organic Turmeric
- Conventional Turmeric
- Geography Outlook (USD Million, 2019 - 2032)
- North America
- The U.S.
- Canada
- Europe
- U.K.
- Germany
- France
- Rest of Europe
- APAC
- India
- China
- Indonesia
- South America
- Brazil
- Argentina
- Chile
- Middle East & Africa
- South Africa
- UAE
- Rest of MEA
Table of Contents
Global Turmeric Market Professional Survey Report 2018
1 Industry Overview of Turmeric
1.1 Definition and Specifications of Turmeric
1.1.1 Definition of Turmeric
1.1.2 Specifications of Turmeric
1.2 Classification of Turmeric
1.2.1 Food Grade
1.2.2 Pharmaceutical Grade
1.2.3 Cosmetic Grade
1.2.4 Other
1.3 Applications of Turmeric
1.3.1 Food Use
1.3.2 Medicinal Use
1.3.3 Cosmetic Use
1.3.4 Dietary Supplements
1.3.5 Other
1.4 Market Segment by Regions
1.4.1 North America
1.4.2 China
1.4.3 Europe
1.4.4 Southeast Asia
1.4.5 Japan
1.4.6 India
2 Manufacturing Cost Structure Analysis of Turmeric
2.1 Raw Material and Suppliers
2.2 Manufacturing Cost Structure Analysis of Turmeric
2.3 Manufacturing Process Analysis of Turmeric
2.4 Industry Chain Structure of Turmeric
3 Technical Data and Manufacturing Plants Analysis of Turmeric
3.1 Capacity and Commercial Production Date of Global Turmeric Major Manufacturers in 2017
3.2 Manufacturing Plants Distribution of Global Turmeric Major Manufacturers in 2017
3.3 R&D Status and Technology Source of Global Turmeric Major Manufacturers in 2017
3.4 Raw Materials Sources Analysis of Global Turmeric Major Manufacturers in 2017
4 Global Turmeric Overall Market Overview
4.1 2013-2018E Overall Market Analysis
4.2 Capacity Analysis
4.2.1 2013-2018E Global Turmeric Capacity and Growth Rate Analysis
4.2.2 2017 Turmeric Capacity Analysis (Company Segment)
4.3 Sales Analysis
4.3.1 2013-2018E Global Turmeric Sales and Growth Rate Analysis
4.3.2 2017 Turmeric Sales Analysis (Company Segment)
4.4 Sales Price Analysis
4.4.1 2013-2018E Global Turmeric Sales Price
4.4.2 2017 Turmeric Sales Price Analysis (Company Segment)
5 Turmeric Regional Market Analysis
5.1 North America Turmeric Market Analysis
5.1.1 North America Turmeric Market Overview
5.1.2 North America 2013-2018E Turmeric Local Supply, Import, Export, Local Consumption Analysis
5.1.3 North America 2013-2018E Turmeric Sales Price Analysis
5.1.4 North America 2017 Turmeric Market Share Analysis
5.2 China Turmeric Market Analysis
5.2.1 China Turmeric Market Overview
5.2.2 China 2013-2018E Turmeric Local Supply, Import, Export, Local Consumption Analysis
5.2.3 China 2013-2018E Turmeric Sales Price Analysis
5.2.4 China 2017 Turmeric Market Share Analysis
5.3 Europe Turmeric Market Analysis
5.3.1 Europe Turmeric Market Overview
5.3.2 Europe 2013-2018E Turmeric Local Supply, Import, Export, Local Consumption Analysis
5.3.3 Europe 2013-2018E Turmeric Sales Price Analysis
5.3.4 Europe 2017 Turmeric Market Share Analysis
5.4 Southeast Asia Turmeric Market Analysis
5.4.1 Southeast Asia Turmeric Market Overview
5.4.2 Southeast Asia 2013-2018E Turmeric Local Supply, Import, Export, Local Consumption Analysis
5.4.3 Southeast Asia 2013-2018E Turmeric Sales Price Analysis
5.4.4 Southeast Asia 2017 Turmeric Market Share Analysis
5.5 Japan Turmeric Market Analysis
5.5.1 Japan Turmeric Market Overview
5.5.2 Japan 2013-2018E Turmeric Local Supply, Import, Export, Local Consumption Analysis
5.5.3 Japan 2013-2018E Turmeric Sales Price Analysis
5.5.4 Japan 2017 Turmeric Market Share Analysis
5.6 India Turmeric Market Analysis
5.6.1 India Turmeric Market Overview
5.6.2 India 2013-2018E Turmeric Local Supply, Import, Export, Local Consumption Analysis
5.6.3 India 2013-2018E Turmeric Sales Price Analysis
5.6.4 India 2017 Turmeric Market Share Analysis
6 Global 2013-2018E Turmeric Segment Market Analysis (by Type)
6.1 Global 2013-2018E Turmeric Sales by Type
6.2 Different Types of Turmeric Product Interview Price Analysis
6.3 Different Types of Turmeric Product Driving Factors Analysis
6.3.1 Food Grade of Turmeric Growth Driving Factor Analysis
6.3.2 Pharmaceutical Grade of Turmeric Growth Driving Factor Analysis
6.3.3 Cosmetic Grade of Turmeric Growth Driving Factor Analysis
6.3.4 Other of Turmeric Growth Driving Factor Analysis
7 Global 2013-2018E Turmeric Segment Market Analysis (by Application)
7.1 Global 2013-2018E Turmeric Consumption by Application
7.2 Different Application of Turmeric Product Interview Price Analysis
7.3 Different Application of Turmeric Product Driving Factors Analysis
7.3.1 Food Use of Turmeric Growth Driving Factor Analysis
7.3.2 Medicinal Use of Turmeric Growth Driving Factor Analysis
7.3.3 Cosmetic Use of Turmeric Growth Driving Factor Analysis
7.3.4 Dietary Supplements of Turmeric Growth Driving Factor Analysis
7.3.5 Other of Turmeric Growth Driving Factor Analysis
8 Major Manufacturers Analysis of Turmeric
8.1 Kraft Heinz
8.1.1 Company Profile
8.1.2 Product Picture and Specifications
8.1.2.1 Product A
8.1.2.2 Product B
8.1.3 Kraft Heinz 2017 Turmeric Sales, Ex-factory Price, Revenue, Gross Margin Analysis
8.1.4 Kraft Heinz 2017 Turmeric Business Region Distribution Analysis
8.2 Givaudan
8.2.1 Company Profile
8.2.2 Product Picture and Specifications
8.2.2.1 Product A
8.2.2.2 Product B
8.2.3 Givaudan 2017 Turmeric Sales, Ex-factory Price, Revenue, Gross Margin Analysis
8.2.4 Givaudan 2017 Turmeric Business Region Distribution Analysis
8.3 Nestle
8.3.1 Company Profile
8.3.2 Product Picture and Specifications
8.3.2.1 Product A
8.3.2.2 Product B
8.3.3 Nestle 2017 Turmeric Sales, Ex-factory Price, Revenue, Gross Margin Analysis
8.3.4 Nestle 2017 Turmeric Business Region Distribution Analysis
8.4 Unilever
8.4.1 Company Profile
8.4.2 Product Picture and Specifications
8.4.2.1 Product A
8.4.2.2 Product B
8.4.3 Unilever 2017 Turmeric Sales, Ex-factory Price, Revenue, Gross Margin Analysis
8.4.4 Unilever 2017 Turmeric Business Region Distribution Analysis
8.5 ConAgra
8.5.1 Company Profile
8.5.2 Product Picture and Specifications
8.5.2.1 Product A
8.5.2.2 Product B
8.5.3 ConAgra 2017 Turmeric Sales, Ex-factory Price, Revenue, Gross Margin Analysis
8.5.4 ConAgra 2017 Turmeric Business Region Distribution Analysis
8.6 The Hain Celestial Group
8.6.1 Company Profile
8.6.2 Product Picture and Specifications
8.6.2.1 Product A
8.6.2.2 Product B
8.6.3 The Hain Celestial Group 2017 Turmeric Sales, Ex-factory Price, Revenue, Gross Margin Analysis
8.6.4 The Hain Celestial Group 2017 Turmeric Business Region Distribution Analysis
8.7 General Mills
8.7.1 Company Profile
8.7.2 Product Picture and Specifications
8.7.2.1 Product A
8.7.2.2 Product B
8.7.3 General Mills 2017 Turmeric Sales, Ex-factory Price, Revenue, Gross Margin Analysis
8.7.4 General Mills 2017 Turmeric Business Region Distribution Analysis
8.8 Dr. Schar
8.8.1 Company Profile
8.8.2 Product Picture and Specifications
8.8.2.1 Product A
8.8.2.2 Product B
8.8.3 Dr. Schar 2017 Turmeric Sales, Ex-factory Price, Revenue, Gross Margin Analysis
8.8.4 Dr. Schar 2017 Turmeric Business Region Distribution Analysis
8.9 ITC Spices
8.9.1 Company Profile
8.9.2 Product Picture and Specifications
8.9.2.1 Product A
8.9.2.2 Product B
8.9.3 ITC Spices 2017 Turmeric Sales, Ex-factory Price, Revenue, Gross Margin Analysis
8.9.4 ITC Spices 2017 Turmeric Business Region Distribution Analysis
8.10 Everest Spices
8.10.1 Company Profile
8.10.2 Product Picture and Specifications
8.10.2.1 Product A
8.10.2.2 Product B
8.10.3 Everest Spices 2017 Turmeric Sales, Ex-factory Price, Revenue, Gross Margin Analysis
8.10.4 Everest Spices 2017 Turmeric Business Region Distribution Analysis
8.11 Dhameja Home Industries
8.12 Gandhi Spices
8.13 Green Earth Products
8.14 Grover Sons
8.15 Nani Agro Foods
8.16 AK Biotech
8.17 Sapthsathi Organic Agriculture Project
9 Development Trend of Analysis of Turmeric Market
9.1 Global Turmeric Market Trend Analysis
9.1.1 Global 2018-2025 Turmeric Market Size (Volume and Value) Forecast
9.1.2 Global 2018-2025 Turmeric Sales Price Forecast
9.2 Turmeric Regional Market Trend
9.2.1 North America 2018-2025 Turmeric Consumption Forecast
9.2.2 China 2018-2025 Turmeric Consumption Forecast
9.2.3 Europe 2018-2025 Turmeric Consumption Forecast
9.2.4 Southeast Asia 2018-2025 Turmeric Consumption Forecast
9.2.5 Japan 2018-2025 Turmeric Consumption Forecast
9.2.6 India 2018-2025 Turmeric Consumption Forecast
9.3 Turmeric Market Trend (Product Type)
9.4 Turmeric Market Trend (Application)
10 Turmeric Marketing Type Analysis
10.1 Turmeric Regional Marketing Type Analysis
10.2 Turmeric International Trade Type Analysis
10.3 Traders or Distributors with Contact Information of Turmeric by Region
10.4 Turmeric Supply Chain Analysis
11 Consumers Analysis of Turmeric
11.1 Consumer 1 Analysis
11.2 Consumer 2 Analysis
11.3 Consumer 3 Analysis
11.4 Consumer 4 Analysis
12 Conclusion of the Global Turmeric Market Professional Survey Report 2017
Methodology
Analyst Introduction
Data Source
List of Tables and Figures
Figure Picture of Turmeric
Table Product Specifications of Turmeric
Table Classification of Turmeric
Figure Global Production Market Share of Turmeric by Type in 2017
Figure Food Grade Picture
Table Major Manufacturers of Food Grade
Figure Pharmaceutical Grade Picture
Table Major Manufacturers of Pharmaceutical Grade
Figure Cosmetic Grade Picture
Table Major Manufacturers of Cosmetic Grade
Figure Other Picture
Table Major Manufacturers of Other
Table Applications of Turmeric
Figure Global Consumption Volume Market Share of Turmeric by Application in 2017
Figure Food Use Examples
Table Major Consumers in Food Use
Figure Medicinal Use Examples
Table Major Consumers in Medicinal Use
Figure Cosmetic Use Examples
Table Major Consumers in Cosmetic Use
Figure Dietary Supplements Examples
Table Major Consumers in Dietary Supplements
Figure Other Examples
Table Major Consumers in Other
Figure Market Share of Turmeric by Regions
Figure North America Turmeric Market Size (Million USD) (2013-2025)
Figure China Turmeric Market Size (Million USD) (2013-2025)
Figure Europe Turmeric Market Size (Million USD) (2013-2025)
Figure Southeast Asia Turmeric Market Size (Million USD) (2013-2025)
Figure Japan Turmeric Market Size (Million USD) (2013-2025)
Figure India Turmeric Market Size (Million USD) (2013-2025)
Table Turmeric Raw Material and Suppliers
Table Manufacturing Cost Structure Analysis of Turmeric in 2017
Figure Manufacturing Process Analysis of Turmeric
Figure Industry Chain Structure of Turmeric
Table Capacity and Commercial Production Date of Global Turmeric Major Manufacturers in 2017
Table Manufacturing Plants Distribution of Global Turmeric Major Manufacturers in 2017
Table R&D Status and Technology Source of Global Turmeric Major Manufacturers in 2017
Table Raw Materials Sources Analysis of Global Turmeric Major Manufacturers in 2017
Table Global Capacity, Sales , Price, Cost, Sales Revenue (M USD) and Gross Margin of Turmeric 2013-2018E
Figure Global 2013-2018E Turmeric Market Size (Volume) and Growth Rate
Figure Global 2013-2018E Turmeric Market Size (Value) and Growth Rate
Table 2013-2018E Global Turmeric Capacity and Growth Rate
Table 2017 Global Turmeric Capacity (K MT) List (Company Segment)
Table 2013-2018E Global Turmeric Sales (K MT) and Growth Rate
Table 2017 Global Turmeric Sales (K MT) List (Company Segment)
Table 2013-2018E Global Turmeric Sales Price (USD/MT)
Table 2017 Global Turmeric Sales Price (USD/MT) List (Company Segment)
Figure North America Capacity Overview
Table North America Supply, Import, Export and Consumption (K MT) of Turmeric 2013-2018E
Figure North America 2013-2018E Turmeric Sales Price (USD/MT)
Figure North America 2017 Turmeric Sales Market Share
Figure China Capacity Overview
Table China Supply, Import, Export and Consumption (K MT) of Turmeric 2013-2018E
Figure China 2013-2018E Turmeric Sales Price (USD/MT)
Figure China 2017 Turmeric Sales Market Share
Figure Europe Capacity Overview
Table Europe Supply, Import, Export and Consumption (K MT) of Turmeric 2013-2018E
Figure Europe 2013-2018E Turmeric Sales Price (USD/MT)
Figure Europe 2017 Turmeric Sales Market Share
Figure Southeast Asia Capacity Overview
Table Southeast Asia Supply, Import, Export and Consumption (K MT) of Turmeric 2013-2018E
Figure Southeast Asia 2013-2018E Turmeric Sales Price (USD/MT)
Figure Southeast Asia 2017 Turmeric Sales Market Share
Figure Japan Capacity Overview
Table Japan Supply, Import, Export and Consumption (K MT) of Turmeric 2013-2018E
Figure Japan 2013-2018E Turmeric Sales Price (USD/MT)
Figure Japan 2017 Turmeric Sales Market Share
Figure India Capacity Overview
Table India Supply, Import, Export and Consumption (K MT) of Turmeric 2013-2018E
Figure India 2013-2018E Turmeric Sales Price (USD/MT)
Figure India 2017 Turmeric Sales Market Share
Table Global 2013-2018E Turmeric Sales (K MT) by Type
Table Different Types Turmeric Product Interview Price
Table Global 2013-2018E Turmeric Sales (K MT) by Application
Table Different Application Turmeric Product Interview Price
Table Kraft Heinz Information List
Table Product A Overview
Table Product B Overview
Table 2017 Kraft Heinz Turmeric Revenue (Million USD), Sales (K MT), Ex-factory Price (USD/MT)
Figure 2017 Kraft Heinz Turmeric Business Region Distribution
Table Givaudan Information List
Table Product A Overview
Table Product B Overview
Table 2017 Givaudan Turmeric Revenue (Million USD), Sales (K MT), Ex-factory Price (USD/MT)
Figure 2017 Givaudan Turmeric Business Region Distribution
Table Nestle Information List
Table Product A Overview
Table Product B Overview
Table 2015 Nestle Turmeric Revenue (Million USD), Sales (K MT), Ex-factory Price (USD/MT)
Figure 2017 Nestle Turmeric Business Region Distribution
Table Unilever Information List
Table Product A Overview
Table Product B Overview
Table 2017 Unilever Turmeric Revenue (Million USD), Sales (K MT), Ex-factory Price (USD/MT)
Figure 2017 Unilever Turmeric Business Region Distribution
Table ConAgra Information List
Table Product A Overview
Table Product B Overview
Table 2017 ConAgra Turmeric Revenue (Million USD), Sales (K MT), Ex-factory Price (USD/MT)
Figure 2017 ConAgra Turmeric Business Region Distribution
Table The Hain Celestial Group Information List
Table Product A Overview
Table Product B Overview
Table 2017 The Hain Celestial Group Turmeric Revenue (Million USD), Sales (K MT), Ex-factory Price (USD/MT)
Figure 2017 The Hain Celestial Group Turmeric Business Region Distribution
Table General Mills Information List
Table Product A Overview
Table Product B Overview
Table 2017 General Mills Turmeric Revenue (Million USD), Sales (K MT), Ex-factory Price (USD/MT)
Figure 2017 General Mills Turmeric Business Region Distribution
Table Dr. Schar Information List
Table Product A Overview
Table Product B Overview
Table 2017 Dr. Schar Turmeric Revenue (Million USD), Sales (K MT), Ex-factory Price (USD/MT)
Figure 2017 Dr. Schar Turmeric Business Region Distribution
Table ITC Spices Information List
Table Product A Overview
Table Product B Overview
Table 2017 ITC Spices Turmeric Revenue (Million USD), Sales (K MT), Ex-factory Price (USD/MT)
Figure 2017 ITC Spices Turmeric Business Region Distribution
Table Everest Spices Information List
Table Product A Overview
Table Product B Overview
Table 2017 Everest Spices Turmeric Revenue (Million USD), Sales (K MT), Ex-factory Price (USD/MT)
Figure 2017 Everest Spices Turmeric Business Region Distribution
Table Dhameja Home Industries Information List
Table Gandhi Spices Information List
Table Green Earth Products Information List
Table Grover Sons Information List
Table Nani Agro Foods Information List
Table AK Biotech Information List
Table Sapthsathi Organic Agriculture Project Information List
Figure Global 2018-2025 Turmeric Market Size (K MT) and Growth Rate Forecast
Figure Global 2018-2025 Turmeric Market Size (Million USD) and Growth Rate Forecast
Figure Global 2018-2025 Turmeric Sales Price (USD/MT) Forecast
Figure North America 2018-2025 Turmeric Consumption Volume (K MT) and Growth Rate Forecast
Figure China 2018-2025 Turmeric Consumption Volume (K MT) and Growth Rate Forecast
Figure Europe 2018-2025 Turmeric Consumption Volume (K MT) and Growth Rate Forecast
Figure Southeast Asia 2018-2025 Turmeric Consumption Volume (K MT) and Growth Rate Forecast
Figure Japan 2018-2025 Turmeric Consumption Volume (K MT) and Growth Rate Forecast
Figure India 2018-2025 Turmeric Consumption Volume (K MT) and Growth Rate Forecast
Table Global Sales Volume (K MT) of Turmeric by Type 2018-2025
Table Global Consumption Volume (K MT) of Turmeric by Application 2018-2025
Table Traders or Distributors with Contact Information of Turmeric by Region
RESEARCH METHODOLOGY
A research methodology is a systematic approach for assessing or conducting a market study. Researchers tend to draw on a variety of both qualitative and quantitative study methods, inclusive of investigations, survey, secondary data and market observation.
Such plans can focus on classifying the products offered by leading market players or simply use statistical models to interpret observations or test hypotheses. While some methods aim for a detailed description of the factors behind an observation, others present the context of the current market scenario.
Now let’s take a closer look at the research methods here.
Secondary Research Model
Extensive data is obtained and cumulated on a substantial basis during the inception phase of the research process. The data accumulated is consistently filtered through validation from the in-house database, paid sources as well reputable industry magazines. A robust research study requires an understanding of the overall value chain. Annual reports and financials of industry players are studied thoroughly to have a comprehensive idea of the market taxonomy.
Primary Insights
Post conglomeration of the data obtained through secondary research; a validation process is initiated to verify the numbers or figures. This process is usually performed by having a detailed discussion with the industry experts.
However, we do not restrict our primary interviews only to the industry leaders. Our team covers the entire value chain while verifying the data. A significant number of raw material suppliers, local manufacturers, distributors, and stakeholders are interviewed to make our findings authentic. The current trends which include the drivers, restraints, and opportunities are also derived through the primary research process.
Market Estimation
The market estimation is conducted by analyzing the data collected through both secondary and primary research. This process involves market breakdown, bottom-up and top- down approach.
Moreover, while forecasting the market a comprehensive statistical time series model is designed for each market. Macroeconomic indicators are considered to understand the current trends of the market. Each data point is verified by the process of data triangulation method to arrive at the final market estimates.
Final Presentation
The penultimate process results in a holistic research report. The study equips key industry players to undertake significant strategic decisions through the findings. The report encompasses detailed market information. Graphical representations of the current market trends are also made available in order to make the study highly comprehensible for the reader.
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