The global feed binder market was valued at $1,232.00 million in 2021 and is expected to reach $2,425.8 million by 2031, registering a CAGR of 7.1% from 2022-2031. Feed binders are the products that are used to bind, glue, or hold the combination of the various feed components which will help feeds keep their integrity during subsequent processes once they are extruded. Binders are used in animal nutrition to enhance the quality and properties of animal feed and to boost features such as overall gut health/digestive performance, palatability preservation, and others. They have gained significant importance globally as they improve the overall health of animals, which in turn improves the quality and quantity of meat produced. Moreover, they help in improving the feed quality, thus improving the performance, and health of animals. The benefits of binders include better animal performance, disease control, and enhanced material handling. Furthermore, it also helps in keeping the feed as a whole and prevents them from decomposition.
The rise in popularity of natural solutions for pet food nutrition provides an opportunity for the market to grow since pet owners continue to be extremely sensitive and worried about the nature, reliability, and origin of the components used in the production of pet food. These days, having pets is also becoming more popular. Agriculture and Agri-Food Canada reports that there is a pet population of 27.9 million pets in Canada in 2020. Retail sales of pet food were valued at Can$4.2 billion in 2020. Dog food was the largest pet food category with retail sales of Can$2.8 billion whereas cat food was valued at Can$1.4 billion.
Along with this, there is an opportunity for the market to grow since feed binders are in high demand in Asia-Pacific, where they are mostly used in the poultry feed sector. According to the FAO report "World Agriculture: Towards 2030/2050, " the population of developing nations in the Asia-Pacific region, including India, China, and Indonesia, is expected to increase their consumption of meat products at an annual rate of 2.4% until 2050. Due to such factors, there will be a huge demand for high-quality feed and thereby for feed binders. Hence, there is a great opportunity for the manufacturers to increase their market share.
The global animal feed binder market is segmented based on type, nature, animal, and region. Based on types, the market is categorized into calcium lignosulphonate, guar gum, and others. As per nature, it is segmented into natural and conventional. According to animals, the market is classified into livestock and companion. Livestock is further bifurcated into ruminants, poultry, and others.
By region, it is analyzed across North America (the U. S., Canada, and Mexico), Europe (the UK, Germany, France, Italy, Spain, and the rest of Europe), Asia-Pacific (China, Japan, India, Australia, Indonesia, the rest of Asia-Pacific), and LAMEA (Brazil, Argentina, Saudi Arabia, South Africa, and rest of LAMEA).
On the basis of type, calcium lignosulphonate dominated the market due to its cheapness and convenience as compared to guar gum and others, so it is affordable to the buyer. Along with this, it can be used as a feed binder for fat-soluble vitamins, carotenoids, and other functional ingredients.
Based on nature, the conventional segment is expected to dominate the market since it is cheap and convenient compared to natural feed binders. In addition, it is not limited as it is produced by manufacturers themselves and they are not dependent on natural sources. Whereas the natural segment is expected to have higher growth due to increasing awareness about organic products and an increase in the disposable income of customers.
On the basis of animals, livestock dominates the market owing to the huge demand for meat and dairy products whereas the companion segment is expected to witness the highest growth among the two owing to an increase in pet adoption rate and increasing pet humanization rate.
The rise in popularity of natural solutions for pet food nutrition provides an opportunity for the market to grow since pet owners continue to be extremely sensitive and worried about the nature, reliability, and origin of the components used in the production of pet food. These days, having pets is also becoming more popular. Agriculture and Agri-Food Canada reports that there is a pet population of 27.9 million pets in Canada in 2020. Retail sales of pet food were valued at Can$4.2 billion in 2020. Dog food was the largest pet food category with retail sales of Can$2.8 billion whereas cat food was valued at Can$1.4 billion.
Along with this, there is an opportunity for the market to grow since feed binders are in high demand in Asia-Pacific, where they are mostly used in the poultry feed sector. According to the FAO report "World Agriculture: Towards 2030/2050, " the population of developing nations in the Asia-Pacific region, including India, China, and Indonesia, is expected to increase their consumption of meat products at an annual rate of 2.4% until 2050. Due to such factors, there will be a huge demand for high-quality feed and thereby for feed binders. Hence, there is a great opportunity for the manufacturers to increase their market share.
The global animal feed binder market is segmented based on type, nature, animal, and region. Based on types, the market is categorized into calcium lignosulphonate, guar gum, and others. As per nature, it is segmented into natural and conventional. According to animals, the market is classified into livestock and companion. Livestock is further bifurcated into ruminants, poultry, and others.
By region, it is analyzed across North America (the U. S., Canada, and Mexico), Europe (the UK, Germany, France, Italy, Spain, and the rest of Europe), Asia-Pacific (China, Japan, India, Australia, Indonesia, the rest of Asia-Pacific), and LAMEA (Brazil, Argentina, Saudi Arabia, South Africa, and rest of LAMEA).
On the basis of type, calcium lignosulphonate dominated the market due to its cheapness and convenience as compared to guar gum and others, so it is affordable to the buyer. Along with this, it can be used as a feed binder for fat-soluble vitamins, carotenoids, and other functional ingredients.
Based on nature, the conventional segment is expected to dominate the market since it is cheap and convenient compared to natural feed binders. In addition, it is not limited as it is produced by manufacturers themselves and they are not dependent on natural sources. Whereas the natural segment is expected to have higher growth due to increasing awareness about organic products and an increase in the disposable income of customers.
On the basis of animals, livestock dominates the market owing to the huge demand for meat and dairy products whereas the companion segment is expected to witness the highest growth among the two owing to an increase in pet adoption rate and increasing pet humanization rate.
KEY BENEFITS FOR STAKEHOLDERS
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the feed binders market analysis from 2021 to 2031 to identify the prevailing feed binders market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the feed binders market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global feed binders market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Nature
- Natural
- Conventional
By Type
- Calcium Lignosulphonate
- Guar Gum
- Others
By Animal
- Livestock
- Sub Type
- Ruminants
- Poultry
- Other
- Companions
By Region
- North America
- U. S.
- Canada
- Mexico
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- Indonesia
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Argentina
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players
- AF Suter
- ALLWYN CHEM INDUSTRIES
- Archer Daniels Midland Company
- Avebe
- BASF SE
- BENEO
- Borregaard AS
- Chemorse
- CP Kelco U. S., Inc
- E. I. du Pont de Nemours and Company
- Darling Ingredients
- Emsland Group
- Natural Remedies
- IRO Alginate Industry Co., Ltd.
- Kemin Industries, Inc.
- Roquette Freres
- Uniscope, Inc.
- Visco Starch
- Bentoli
- GELITA AG
Table of Contents
CHAPTER 1: INTRODUCTION1.1. Report description
1.2. Key market segments
1.3. Key benefits to the stakeholders
1.4. Research Methodology
1.4.1. Secondary research
1.4.2. Primary research
1.4.3. Analyst tools and models
CHAPTER 2: EXECUTIVE SUMMARY
2.1. Key findings of the study
2.2. CXO Perspective
CHAPTER 3: MARKET OVERVIEW
3.1. Market definition and scope
3.2. Key findings
3.2.1. Top investment pockets
3.3. Porter’s five forces analysis
3.4. Top player positioning
3.5. Market dynamics
3.5.1. Drivers
3.5.2. Restraints
3.5.3. Opportunities
3.6. COVID-19 Impact Analysis on the market
CHAPTER 4: FEED BINDERS MARKET, BY TYPE
4.1 Overview
4.1.1 Market size and forecast
4.2 Calcium Lignosulphonate
4.2.1 Key market trends, growth factors and opportunities
4.2.2 Market size and forecast, by region
4.2.3 Market analysis by country
4.3 Guar Gum
4.3.1 Key market trends, growth factors and opportunities
4.3.2 Market size and forecast, by region
4.3.3 Market analysis by country
4.4 Others
4.4.1 Key market trends, growth factors and opportunities
4.4.2 Market size and forecast, by region
4.4.3 Market analysis by country
CHAPTER 5: FEED BINDERS MARKET, BY ANIMAL
5.1 Overview
5.1.1 Market size and forecast
5.2 Livestock
5.2.1 Key market trends, growth factors and opportunities
5.2.2 Market size and forecast, by region
5.2.3 Market analysis by country
5.2.4 Livestock Feed Binders Market by Sub Type
5.2.4.1 Ruminants Market size and forecast, by region
5.2.4.2 Poultry Market size and forecast, by region
5.2.4.3 Other Market size and forecast, by region
5.3 Companions
5.3.1 Key market trends, growth factors and opportunities
5.3.2 Market size and forecast, by region
5.3.3 Market analysis by country
CHAPTER 6: FEED BINDERS MARKET, BY NATURE
6.1 Overview
6.1.1 Market size and forecast
6.2 Natural
6.2.1 Key market trends, growth factors and opportunities
6.2.2 Market size and forecast, by region
6.2.3 Market analysis by country
6.3 Conventional
6.3.1 Key market trends, growth factors and opportunities
6.3.2 Market size and forecast, by region
6.3.3 Market analysis by country
CHAPTER 7: FEED BINDERS MARKET, BY REGION
7.1 Overview
7.1.1 Market size and forecast
7.2 North America
7.2.1 Key trends and opportunities
7.2.2 North America Market size and forecast, by Type
7.2.3 North America Market size and forecast, by Animal
7.2.3.1 North America Livestock Feed Binders Market by Sub Type
7.2.4 North America Market size and forecast, by Nature
7.2.5 North America Market size and forecast, by country
7.2.5.1 U. S.
7.2.5.1.1 Market size and forecast, by Type
7.2.5.1.2 Market size and forecast, by Animal
7.2.5.1.3 Market size and forecast, by Nature
7.2.5.2 Canada
7.2.5.2.1 Market size and forecast, by Type
7.2.5.2.2 Market size and forecast, by Animal
7.2.5.2.3 Market size and forecast, by Nature
7.2.5.3 Mexico
7.2.5.3.1 Market size and forecast, by Type
7.2.5.3.2 Market size and forecast, by Animal
7.2.5.3.3 Market size and forecast, by Nature
7.3 Europe
7.3.1 Key trends and opportunities
7.3.2 Europe Market size and forecast, by Type
7.3.3 Europe Market size and forecast, by Animal
7.3.3.1 Europe Livestock Feed Binders Market by Sub Type
7.3.4 Europe Market size and forecast, by Nature
7.3.5 Europe Market size and forecast, by country
7.3.5.1 UK
7.3.5.1.1 Market size and forecast, by Type
7.3.5.1.2 Market size and forecast, by Animal
7.3.5.1.3 Market size and forecast, by Nature
7.3.5.2 Germany
7.3.5.2.1 Market size and forecast, by Type
7.3.5.2.2 Market size and forecast, by Animal
7.3.5.2.3 Market size and forecast, by Nature
7.3.5.3 France
7.3.5.3.1 Market size and forecast, by Type
7.3.5.3.2 Market size and forecast, by Animal
7.3.5.3.3 Market size and forecast, by Nature
7.3.5.4 Italy
7.3.5.4.1 Market size and forecast, by Type
7.3.5.4.2 Market size and forecast, by Animal
7.3.5.4.3 Market size and forecast, by Nature
7.3.5.5 Spain
7.3.5.5.1 Market size and forecast, by Type
7.3.5.5.2 Market size and forecast, by Animal
7.3.5.5.3 Market size and forecast, by Nature
7.3.5.6 Rest of Europe
7.3.5.6.1 Market size and forecast, by Type
7.3.5.6.2 Market size and forecast, by Animal
7.3.5.6.3 Market size and forecast, by Nature
7.4 Asia-Pacific
7.4.1 Key trends and opportunities
7.4.2 Asia-Pacific Market size and forecast, by Type
7.4.3 Asia-Pacific Market size and forecast, by Animal
7.4.3.1 Asia-Pacific Livestock Feed Binders Market by Sub Type
7.4.4 Asia-Pacific Market size and forecast, by Nature
7.4.5 Asia-Pacific Market size and forecast, by country
7.4.5.1 China
7.4.5.1.1 Market size and forecast, by Type
7.4.5.1.2 Market size and forecast, by Animal
7.4.5.1.3 Market size and forecast, by Nature
7.4.5.2 Japan
7.4.5.2.1 Market size and forecast, by Type
7.4.5.2.2 Market size and forecast, by Animal
7.4.5.2.3 Market size and forecast, by Nature
7.4.5.3 India
7.4.5.3.1 Market size and forecast, by Type
7.4.5.3.2 Market size and forecast, by Animal
7.4.5.3.3 Market size and forecast, by Nature
7.4.5.4 Australia
7.4.5.4.1 Market size and forecast, by Type
7.4.5.4.2 Market size and forecast, by Animal
7.4.5.4.3 Market size and forecast, by Nature
7.4.5.5 Indonesia
7.4.5.5.1 Market size and forecast, by Type
7.4.5.5.2 Market size and forecast, by Animal
7.4.5.5.3 Market size and forecast, by Nature
7.4.5.6 Rest of Asia-Pacific
7.4.5.6.1 Market size and forecast, by Type
7.4.5.6.2 Market size and forecast, by Animal
7.4.5.6.3 Market size and forecast, by Nature
7.5 LAMEA
7.5.1 Key trends and opportunities
7.5.2 LAMEA Market size and forecast, by Type
7.5.3 LAMEA Market size and forecast, by Animal
7.5.3.1 LAMEA Livestock Feed Binders Market by Sub Type
7.5.4 LAMEA Market size and forecast, by Nature
7.5.5 LAMEA Market size and forecast, by country
7.5.5.1 Brazil
7.5.5.1.1 Market size and forecast, by Type
7.5.5.1.2 Market size and forecast, by Animal
7.5.5.1.3 Market size and forecast, by Nature
7.5.5.2 Argentina
7.5.5.2.1 Market size and forecast, by Type
7.5.5.2.2 Market size and forecast, by Animal
7.5.5.2.3 Market size and forecast, by Nature
7.5.5.3 Saudi Arabia
7.5.5.3.1 Market size and forecast, by Type
7.5.5.3.2 Market size and forecast, by Animal
7.5.5.3.3 Market size and forecast, by Nature
7.5.5.4 South Africa
7.5.5.4.1 Market size and forecast, by Type
7.5.5.4.2 Market size and forecast, by Animal
7.5.5.4.3 Market size and forecast, by Nature
7.5.5.5 Rest of LAMEA
7.5.5.5.1 Market size and forecast, by Type
7.5.5.5.2 Market size and forecast, by Animal
7.5.5.5.3 Market size and forecast, by Nature
CHAPTER 8: COMPANY LANDSCAPE
8.1. Introduction
8.2. Top winning strategies
8.3. Product Mapping of Top 10 Players
8.4. Competitive Dashboard
8.5. Competitive Heatmap
8.6. Key developments
CHAPTER 9: COMPANY PROFILES
9.1 AF Suter
9.1.1 Company overview
9.1.2 Company snapshot
9.1.3 Operating business segments
9.1.4 Product portfolio
9.1.5 Business performance
9.1.6 Key strategic moves and developments
9.2 ALLWYN CHEM INDUSTRIES
9.2.1 Company overview
9.2.2 Company snapshot
9.2.3 Operating business segments
9.2.4 Product portfolio
9.2.5 Business performance
9.2.6 Key strategic moves and developments
9.3 Archer Daniels Midland Company
9.3.1 Company overview
9.3.2 Company snapshot
9.3.3 Operating business segments
9.3.4 Product portfolio
9.3.5 Business performance
9.3.6 Key strategic moves and developments
9.4 Avebe
9.4.1 Company overview
9.4.2 Company snapshot
9.4.3 Operating business segments
9.4.4 Product portfolio
9.4.5 Business performance
9.4.6 Key strategic moves and developments
9.5 BASF SE
9.5.1 Company overview
9.5.2 Company snapshot
9.5.3 Operating business segments
9.5.4 Product portfolio
9.5.5 Business performance
9.5.6 Key strategic moves and developments
9.6 BENEO
9.6.1 Company overview
9.6.2 Company snapshot
9.6.3 Operating business segments
9.6.4 Product portfolio
9.6.5 Business performance
9.6.6 Key strategic moves and developments
9.7 Borregaard AS
9.7.1 Company overview
9.7.2 Company snapshot
9.7.3 Operating business segments
9.7.4 Product portfolio
9.7.5 Business performance
9.7.6 Key strategic moves and developments
9.8 Chemorse
9.8.1 Company overview
9.8.2 Company snapshot
9.8.3 Operating business segments
9.8.4 Product portfolio
9.8.5 Business performance
9.8.6 Key strategic moves and developments
9.9 CP Kelco U. S., Inc
9.9.1 Company overview
9.9.2 Company snapshot
9.9.3 Operating business segments
9.9.4 Product portfolio
9.9.5 Business performance
9.9.6 Key strategic moves and developments
9.10 E. I. du Pont de Nemours and Company
9.10.1 Company overview
9.10.2 Company snapshot
9.10.3 Operating business segments
9.10.4 Product portfolio
9.10.5 Business performance
9.10.6 Key strategic moves and developments
9.11 Darling Ingredients
9.11.1 Company overview
9.11.2 Company snapshot
9.11.3 Operating business segments
9.11.4 Product portfolio
9.11.5 Business performance
9.11.6 Key strategic moves and developments
9.12 Emsland Group
9.12.1 Company overview
9.12.2 Company snapshot
9.12.3 Operating business segments
9.12.4 Product portfolio
9.12.5 Business performance
9.12.6 Key strategic moves and developments
9.13 Natural Remedies
9.13.1 Company overview
9.13.2 Company snapshot
9.13.3 Operating business segments
9.13.4 Product portfolio
9.13.5 Business performance
9.13.6 Key strategic moves and developments
9.14 IRO Alginate Industry Co., Ltd.
9.14.1 Company overview
9.14.2 Company snapshot
9.14.3 Operating business segments
9.14.4 Product portfolio
9.14.5 Business performance
9.14.6 Key strategic moves and developments
9.15 Kemin Industries, Inc
9.15.1 Company overview
9.15.2 Company snapshot
9.15.3 Operating business segments
9.15.4 Product portfolio
9.15.5 Business performance
9.15.6 Key strategic moves and developments
9.16 Roquette Freres
9.16.1 Company overview
9.16.2 Company snapshot
9.16.3 Operating business segments
9.16.4 Product portfolio
9.16.5 Business performance
9.16.6 Key strategic moves and developments
9.17 Uniscope, Inc.
9.17.1 Company overview
9.17.2 Company snapshot
9.17.3 Operating business segments
9.17.4 Product portfolio
9.17.5 Business performance
9.17.6 Key strategic moves and developments
9.18 Visco Starch
9.18.1 Company overview
9.18.2 Company snapshot
9.18.3 Operating business segments
9.18.4 Product portfolio
9.18.5 Business performance
9.18.6 Key strategic moves and developments
9.19 GELITA AG
9.19.1 Company overview
9.19.2 Company snapshot
9.19.3 Operating business segments
9.19.4 Product portfolio
9.19.5 Business performance
9.19.6 Key strategic moves and developments
9.20 Bentoli
9.20.1 Company overview
9.20.2 Company snapshot
9.20.3 Operating business segments
9.20.4 Product portfolio
9.20.5 Business performance
9.20.6 Key strategic moves and developments
Executive Summary
According to this report, titled, 'Feed Binders Market,' The feed binders market was valued at $1.2 billion in 2021, and is estimated to reach $2.4 billion by 2031, growing at a CAGR of 7.1% from 2022 to 2031.Feed binders are used to hold or bind different feed components together. Feed binding involves a variety of methods, including pelleting, gelatinizing natural starches in feed materials, and steaming/cooking. Binders are used in animal nutrition to improve the quality and properties of animal feed and to boost features such as overall gut health/digestive performance, palatability preservation, and others.
The market also offers growth opportunities to the key players in the market. Pet owners continue to be extremely sensitive and worried about the nature, reliability, and origin of the components used in production of pet food. These days, having pets is also becoming popular trend. Agriculture and Agri-Food Canada reports that there is pet population of 27.9 million pets in Canada in 2020. Retail sales of pet food was valued at Can$ 4.2 Bn in 2020. Dog food was the largest pet food category with retail sales of Can$2.8 billion whereas cat food was valued at Can $1.4 Bn. There is a huge rise in the demand of natural food solutions owing to the rising awareness of benefits of natural products. The rising number of pets coupled with rising awareness of natural products will create an opportunity for the market to grow.
The pandemic has forced people to stay at home. This resulted in the increased adoption of pets. Various scientific studies had proved that having a companion animal such as a dog or cat is beneficial for mental health. Therefore, in the crisis situation, the adoption of pets increased and the bond between humans and pets improved. Furthermore, this pandemic situation has forced people to shift to e-commerce channels due to social distancing norms. There has been an upsurge in e-commerce channels due to the lockdown. The feed binders market growth in the future is expected to become dependent significantly on online distribution channels to a great extent. All the major players in the global feed binders market are focusing on their online distribution channels in order to remain competitive, survive, and increase their market share in terms of revenue. The market also offers growth opportunities to the key players in the market. Online grocery and delivery services have gained high traction in the last 5 years. The growth of such platforms is further accelerated by the ongoing pandemic. As a result, engaged stakeholders in the alcohol industry have partnered with existing delivery services such as Uber and Deliveroo. Though the distribution of alcohol via e-commerce platforms faces challenges, such as logistics, and regulations, advancements of technologies in logistics, easing regulations, and increasing digital connectivity for sales via e-commerce channels are expected to gain high traction, thereby providing growth opportunities for the stakeholders in the coming years.
The feed binders market is segmented into type, nature, animal, and region. On the basis of type, the market is categorized into calcium lignosulphonate, guar gum, and others. On the basis of nature, it is categorized into natural and conventional. On the basis of animals, it is fragmented into livestock and companions. The livestock segment is further bifurcated into ruminants, cattle, and others. Region-wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (the UK, Germany, France, Italy, Spain, and the rest of Europe), Asia-Pacific (China, Japan, India, Australia, Indonesia, and Rest of Asia-Pacific), and LAMEA (Brazil, Argentina, Saudi Arabia, South Africa, and rest of LAMEA).
The key players profiled in the study include AF Suter, Allwyn Chem Industries, Archer-Daniels-Midland Company, AVEBE, BASF SE, BENEO GmbH, Bentoli, Borregaard AS, Chemorse, CP Kelco U.S., Inc., Darling Ingredients Inc., Dupont, Emsland Group, Gelita AG, IRO Alginate Industry Co., Ltd., Kemin Industries, Inc., Natural Remedies, Roquette Freres, Uniscope, Inc, and Visco Starch. The players in the market have been actively engaged in the adoption of various strategies such as acquisition, product launch and expansion to remain competitive and gain advantage over the competitors in the market.
Key Market Insights
By type, calcium lignosulphonate accounted for the highest market share in 2021, growing at a CAGR of 6.8% from 2022 to 2031.By animal, the livestock segment accounted for the highest feed binders market share in 2021, growing at a CAGR of 6.9% from 2022 to 2031.
By livestock, the poultry sub-segment accounted for the highest market share in 2021, growing at a CAGR of 6.6% from 2022 to 2031.
By nature, the conventional segment accounted for the highest feed binder market share in 2021, growing at a CAGR of 6.9% from 2022 to 2031.
By region, Asia-Pacific occupied the maximum share of the market in 2021 and is expected to be the dominating segment during the feed binders market forecast period.
Companies Mentioned
- Af Suter
- Allwyn Chem Industries
- Archer Daniels Midland Company
- Avebe
- BASF SE
- Beneo
- Borregaard As
- Chemorse
- Cp Kelco U.S. Inc.
- E. I. Du Pont De Nemours and Company
- Darling Ingredients
- Emsland Group
- Natural Remedies
- Iro Alginate Industry Co. Ltd.
- Kemin Industries, Inc.
- Roquette Freres
- Uniscope, Inc.
- Visco Starch
- Bentoli
- Gelita AG
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 246 |
| Published | November 2022 |
| Forecast Period | 2021 - 2031 |
| Estimated Market Value ( USD | $ 1232 million |
| Forecasted Market Value ( USD | $ 2425.8 million |
| Compound Annual Growth Rate | 7.0% |
| Regions Covered | Global |
| No. of Companies Mentioned | 20 |
