The Chicory Market Size was esteemed at USD 739.61 million in 2022 and is supposed to arrive at USD 1224.50 million by 2030 and develop at a CAGR of 6.5 % over the forecast period 2023-2030.
The market for chicory has consistently expanded as a result of the need for natural and healthy ingredients in the food and beverage industry. Chicory, especially its roots, is valued for its use as a prebiotic fiber source, natural sweetener, and substitute for coffee. Various chicory products, including roasted chicory root, chicory inulin, and chicory extracts, are available on the market. These products are used in a wide range of sectors, including beverages, baked goods, and nutritional supplements.
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The Chicory market has grown as a result of technological development. The quality and usefulness of goods made from chicory have increased as a result of innovations in extraction and processing techniques. For instance, high-purity inulin with a variety of functional characteristics has been created by the extraction of inulin, a soluble dietary fiber found in chicory. In addition, the creation of innovative chicory-based food and drink items, such as natural sweeteners and coffee blends with chicory extract, has helped the industry expand.
A concern for the chicory sector is obtaining a consistent supply of high-quality raw materials since environmental factors might have an influence on chicory growth. Additionally, it can be challenging to comply with regulatory requirements and labeling laws while also communicating to customers the health benefits of products manufactured from chicory. Competition from dietary fiber sources and other natural sweeteners has a further influence on market dynamics. By dealing with supply chain issues, implementing research-based marketing strategies, and continuing product innovation, the chicory market will be able to maintain its growth trajectory.
Driving Factors:
A preference for chicory as a less expensive espresso alternative.
The future development of the inventory network organization's increasing ubiquity.
The management and distribution of chicory products will improve in the upcoming years. To keep track of what they have and what they need, more and more locations will adopt smart systems. This method will guarantee that chicory items are offered for sale whenever customers need them.
Restraining Factors:
Consumer knowledge of the applications and health advantages of chicory is limited.
Weather-related fluctuations in the availability of raw materials.
The materials we use to build things might be affected by the weather. These resources can occasionally be tougher to locate during inclement weather like storms or droughts. This may result in production issues, shortages, or modifications to the items we can produce.
Opportunities:
Increase in the use of chicory in various projects.
Increasing the use of chicory leaves will treat itchiness, growth problems, and other medical ailments.
Chicory leaves are becoming more popular as a remedy for many ailments. They might help with itching if your skin is irritated. Additionally, they can be utilized to address problems with growth, such as improper body development. As a consequence, people are learning new ways to employ chicory leaves to improve the health of their bodies.
Challenges:
Few consumers are familiar with or accept items made with chicory.
Reliance on meteorological factors that influence chicory crop output.
Chicory crops are very reliant on the weather. How effectively chicory grows is influenced by factors such as temperature, sunshine, and weather. If there is too much rain or not enough sunshine, the chicory plants cannot grow as much. As a result, farmers need to keep an eye on the weather to forecast how well their chicory crop will do.
Inferable from the COVID-19 pandemic, the utilization of prepared to-blend and prepared to-drink refreshments has seen a significant increment. This incorporates beverages like espresso, squeezes, and enhanced milk. Because of the lockdowns and curfews forced by different territorial and public states, the work-from-home culture encountered a lift. Because of the expanded work-life stress and more occupied ways of life, the populace across the globe began progressively consuming espresso to have an expanded fixation and spotlight on work. To take special care of this developing interest, the espresso makers helped/improved their creative capacities and volumes. Attributable to this, the utilization of chicory has expanded all the while, as it is utilized as a mix in most of the prepared to-blend and prepared to-drink espresso items. As it is without caffeine, a better, and minimal expense substitute to espresso, producers have begun remembering it for the espresso handling process. Purchasers are additionally inclining in the direction of chicory mixes to limit well-being gambles related to caffeine. In this way, the pandemic has reinforced the development possibilities for chicory, not exclusively being a less expensive substitute for espresso, yet in addition because of its medical advantages and contributions.
The market for chicory goods may experience difficulties during a recession because consumers may be less willing to spend money on non-essentials like chicory products. A decline in demand could result from shifting spending priorities. Additionally, the availability and cost of goods made from chicory may be impacted by supply chain interruptions and price sensitivity. Businesses may need to modify their plans in response to shifting customer preferences and prevailing economic conditions.
The chicory market has been badly impacted by inflation, and the cost of the items has gone up, including Instant Powder and Flour. Wheat flour's daily average retail price has increased by more than 17% in the last year, and in 2022, the cost of flour and prepared flour mixes was over 19% more than it was on average during the preceding ten years (0.2%). Instant powder inflation increased to over 11% from 10.29%, while infant food inflation increased to around 10.6% in January 2023.
The Russia-Ukraine war has interrupted supply networks and trade routes, which might lead to shortages and price rises. Geopolitical disputes might also have an influence on consumer confidence and spending patterns, which could have an effect on the market for chicory products. Chicory-related products may find it more challenging to be supplied worldwide due to export restrictions and unpredictable trade conditions, which might have an effect on both consumers and producers.
The supply chain was disrupted by the Russia-Ukraine conflict, which raised the cost of the product used in the chicory market. The average price rise for Weight Loss Complex products was 10.46%, which is more than any other category of diet products. The average price increases for vitamin C (up 6.89%) and protein powder (up 5.99%) followed. Price increases for children's vitamins (4.17%) and meal replacements (4.51%) came in fourth and fifth, respectively.
By Product Type:
Extracts
Roasted
Instant Powder
By Flour:
Form
Powder
Cubes
Liquid
By Plant Part:
Chicory Root
Chicory Leaf
By Application:
Food & Beverage
Dietary Supplement
Feed & Pet food
Cosmetics
Personal Care
Asia-Pacific is a dominating region in the Chicory market and it is expected to experience significant growth as a result of Asian consumers' growing desire for natural and herbal products and treatments for illnesses. In India, the chicory plant's flowers are used as a home remedy for gallstones, gastroenteritis, bruises, wounds, and other conditions. Chicory seeds are also a crucial component of Liver Detox Formula, a supplement created to treat a number of liver conditions. It is mixed with various filter coffees from Southeast Asia and Indian coffee.
As a high-value non-food crop that will boost the local economy, chicory is also being introduced in Europe. It opens up new possibilities for growers of sugar beetroot to expand and diversify their business. It is more drought-resistant than sugar beetroot, grows well in a variety of soil types, and requires less nitrogen. Chicory's development as a high-value crop for export will revive the agro-industry and agriculture in Europe.
In North America, where production is increasing and its health benefits are becoming more well-known, the chicory market is predicted to grow the fastest. Chicory became widely utilized in New Orleans as a result of the Civil War's shortage of coffee.
North America
US
Canada
Mexico
Europe
Eastern Europe
Poland
Romania
Hungary
Turkey
Rest of Eastern Europe
Western Europe
Germany
France
UK
Italy
Spain
Netherlands
Switzerland
Austria
Rest of Western Europe
Asia Pacific
China
India
Japan
South Korea
Vietnam
Singapore
Australia
Rest of Asia Pacific
Middle East & Africa
Middle East
UAE
Egypt
Saudi Arabia
Qatar
Rest of Middle East
Africa
Nigeria
South Africa
Rest of Africa
Latin America
Brazil
Argentina
Colombia
Rest of Latin America
PMV Nutrient Products Pvt Ltd, Farmvilla Food Industries Pvt Ltd, Murlikrishna Foods Pvt Ltd, Starwest Botanicals, STOKROS Company Ltd, Nature’s Gold Production, Organic Herb Trading Co, Narasu’s Coffee Company, NP Nutra, Shaanxi Sciphar Natural Product Co Ltd., Jamnagar Chicory Industries, and Herbs & Crops Overseas.
In May 2021, the Belgian company Cosucra Groupe Warcoing S.A. launched its chicory root ingredients under the Fibruline, Swelite, Nastar, and Pisane brand names. The firm primarily sells these brands of pea ingredients.
In March 2020, the German firm Südzucker Group announced plans to expand the Chilean mill that produces chicory roots. The capacity expansion, which is expected to cost USD 58.9 million, will help meet the growing demand for root fibres.
| Report Attributes | Details |
| Market Size in 2022 | US$ 739.61 Mn |
| Market Size by 2030 | US$ 1224.50 Mn |
| CAGR | CAGR of 6.5% From 2023 to 2030 |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Historical Data | 2019-2021 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • by Product Type (Extracts, Roasted, Instant Powder, Flour) • by Form (Powder, Cubes, Liquid) • by Plant Part Application (Food & Beverage, Dietary Supplement, Feed & Pet food, Cosmetics & Personal Care) |
| Regional Analysis/Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia Rest of Latin America) |
| Company Profiles | PMV Nutrient Products Pvt Ltd, Farmvilla Food Industries Pvt Ltd, Murlikrishna Foods Pvt Ltd, Starwest Botanicals, STOKROS Company Ltd, Nature’s Gold Production, Organic Herb Trading Co, Narasu’s Coffee Company, NP Nutra, Shaanxi Sciphar Natural Product Co Ltd., Jamnagar Chicory Industries, and Herbs & Crops Overseas. |
| Key Drivers | • A preference for chicory as a less expensive espresso alternative. • The future development of the inventory network organization's increasing ubiquity. |
| Market Opportunities | • Increase in the use of chicory in various projects. • Increasing the use of chicory leaves will treat itchiness, growth problems, and other medical ailments. |
Ans: Product Type, Flour, Plant Part, and Application segments are covered in the Chicory Market.
Ans: Manufacturers, Research Institutes, university libraries, suppliers, and distributors of the product.
Ans: The Asia Pacific has the biggest offer in the Chicory market.
Ans: High reliance on standard items like espresso and Higher specialized mastery expected for delivering specific chicory-based items are the restraining factors and challenges faced by the Chicory market.
Ans: The Global Chicory Market Size is supposed to develop at a CAGR of 6.5% over the forecast period 2023-2030
TABLE OF CONTENT
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4. Impact Analysis
4.1 Impact of Russia-Ukraine war
4.2 Impact of Ongoing Recession
4.2.1 Introduction
4.2.2 Impact on major economies
4.2.2.1 US
4.2.2.2 Canada
4.2.2.3 Germany
4.2.2.4 France
4.2.2.5 United Kingdom
4.2.2.6 China
4.2.2.7 Japan
4.2.2.8 South Korea
4.2.2.9 Rest of the World
4.3 Supply Demand Gap Analysis
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Chicory Market Segmentation, by Product Type
8.1 Extracts
8.2 Roasted
8.3 Instant Powder
9. Chicory Market Segmentation, by Flour
9.1 Form
9.2 Powder
9.3 Cubes
9.4 Liquid
10. Chicory Market Segmentation, by Plant Part
10.1 Chicory Root
10.2 Chicory Leaf
11. Chicory Market Segmentation, by Application
11.1 Food & Beverage
11.2 Dietary Supplement
11.3 Feed & Pet food
11.4 Cosmetics
11.5 Personal Care
12. Regional Analysis
12.1 Introduction
12.2 North America
12.2.1 North America Chicory Market by Country
12.2.2North America Chicory Market by Product Type
12.2.3 North America Chicory Market by Flour
12.2.4 North America Chicory Market by Plant Part
12.2.5 North America Chicory Market by Application
12.2.6 USA
12.2.6.1 USA Chicory Market by Product Type
12.2.6.2 USA Chicory Market by Flour
12.2.6.3 USA Chicory Market by Plant Part
12.2.6.4 USA Chicory Market by Application
12.2.7 Canada
12.2.7.1 Canada Chicory Market by Product Type
12.2.7.2 Canada Chicory Market by Flour
12.2.7.3 Canada Chicory Market by Plant Part
12.2.7.4 Canada Chicory Market by Application
12.2.8 Mexico
12.2.8.1 Mexico Chicory Market by Product Type
12.2.8.2 Mexico Chicory Market by Flour
12.2.8.3 Mexico Chicory Market by Plant Part
12.2.8.4 Mexico Chicory Market by Application
12.3 Europe
12.3.1 Eastern Europe
12.3.1.1 Eastern Europe Chicory Market by Country
12.3.1.2 Eastern Europe Chicory Market by Product Type
12.3.1.3 Eastern Europe Chicory Market by Flour
12.3.1.4 Eastern Europe Chicory Market by Plant Part
12.3.1.5 Eastern Europe Chicory Market by Application
12.3.1.6 Poland
12.3.1.6.1 Poland Chicory Market by Product Type
12.3.1.6.2 Poland Chicory Market by Flour
12.3.1.6.3 Poland Chicory Market by Plant Part
12.3.1.6.4 Poland Chicory Market by Application
12.3.1.7 Romania
12.3.1.7.1 Romania Chicory Market by Product Type
12.3.1.7.2 Romania Chicory Market by Flour
12.3.1.7.3 Romania Chicory Market by Plant Part
12.3.1.7.4 Romania Chicory Market by Application
12.3.1.8 Hungary
12.3.1.8.1 Hungary Chicory Market by Product Type
12.3.1.8.2 Hungary Chicory Market by Flour
12.3.1.8.3 Hungary Chicory Market by Plant Part
12.3.1.8.4 Hungary Chicory Market by Application
12.3.1.9 Turkey
12.3.1.9.1 Turkey Chicory Market by Product Type
12.3.1.9.2 Turkey Chicory Market by Flour
12.3.1.9.3 Turkey Chicory Market by Plant Part
12.3.1.9.4 Turkey Chicory Market by Application
12.3.1.10 Rest of Eastern Europe
12.3.1.10.1 Rest of Eastern Europe Chicory Market by Product Type
12.3.1.10.2 Rest of Eastern Europe Chicory Market by Flour
12.3.1.10.3 Rest of Eastern Europe Chicory Market by Plant Part
12.3.1.10.4 Rest of Eastern Europe Chicory Market by Application
12.3.2 Western Europe
12.3.2.1 Western Europe Chicory Market by Country
12.3.2.2 Western Europe Chicory Market by Product Type
12.3.2.3 Western Europe Chicory Market by Flour
12.3.2.4 Western Europe Chicory Market by Plant Part
12.3.2.5 Western Europe Chicory Market by Application
12.3.2.6 Germany
12.3.2.6.1 Germany Chicory Market by Product Type
12.3.2.6.2 Germany Chicory Market by Flour
12.3.2.6.3 Germany Chicory Market by Plant Part
12.3.2.6.4 Germany Chicory Market by Application
12.3.2.7 France
12.3.2.7.1 France Chicory Market by Product Type
12.3.2.7.2 France Chicory Market by Flour
12.3.2.7.3 France Chicory Market by Plant Part
12.3.2.7.4 France Chicory Market by Application
12.3.2.8 UK
12.3.2.8.1 UK Chicory Market by Product Type
12.3.2.8.2 UK Chicory Market by Flour
12.3.2.8.3 UK Chicory Market by Plant Part
12.3.2.8.4 UK Chicory Market by Application
12.3.2.9 Italy
12.3.2.9.1 Italy Chicory Market by Product Type
12.3.2.9.2 Italy Chicory Market by Flour
12.3.2.9.3 Italy Chicory Market by Plant Part
12.3.2.9.4 Italy Chicory Market by Application
12.3.2.10 Spain
12.3.2.10.1 Spain Chicory Market by Product Type
12.3.2.10.2 Spain Chicory Market by Flour
12.3.2.10.3 Spain Chicory Market by Plant Part
12.3.2.10.4 Spain Chicory Market by Application
12.3.2.11 Netherlands
12.3.2.11.1 Netherlands Chicory Market by Product Type
12.3.2.11.2 Netherlands Chicory Market by Flour
12.3.2.11.3 Netherlands Chicory Market by Plant Part
12.3.2.11.4 Netherlands Chicory Market by Application
12.3.2.12 Switzerland
12.3.2.12.1 Switzerland Chicory Market by Product Type
12.3.2.12.2 Switzerland Chicory Market by Flour
12.3.2.12.3 Switzerland Chicory Market by Plant Part
12.3.2.12.4 Switzerland Chicory Market by Application
12.3.2.13 Austria
12.3.2.13.1 Austria Chicory Market by Product Type
12.3.2.13.2 Austria Chicory Market by Flour
12.3.2.13.3 Austria Chicory Market by Plant Part
12.3.2.13.4 Austria Chicory Market by Application
12.3.2.14 Rest of Western Europe
12.3.2.14.1 Rest of Western Europe Chicory Market by Product Type
12.3.2.14.2 Rest of Western Europe Chicory Market by Flour
12.3.2.14.3 Rest of Western Europe Chicory Market by Plant Part
12.3.2.14.4 Rest of Western Europe Chicory Market by Application
12.4 Asia-Pacific
12.4.1 Asia Pacific Chicory Market by Country
12.4.2 Asia Pacific Chicory Market by Product Type
12.4.3 Asia Pacific Chicory Market by Flour
12.4.4 Asia Pacific Chicory Market by Plant Part
12.4.5 Asia Pacific Chicory Market by Application
12.4.6 China
12.4.6.1 China Chicory Market by Product Type
12.4.6.2 China Chicory Market by Flour
12.4.6.3 China Chicory Market by Plant Part
12.4.6.4 China Chicory Market by Application
12.4.7 India
12.4.7.1 India Chicory Market by Product Type
12.4.7.2 India Chicory Market by Flour
12.4.7.3 India Chicory Market by Plant Part
12.4.7.4 India Chicory Market by Application
12.4.8 Japan
12.4.8.1 Japan Chicory Market by Product Type
12.4.8.2 Japan Chicory Market by Flour
12.4.8.3 Japan Chicory Market by Plant Part
12.4.8.4 Japan Chicory Market by Application
12.4.9 South Korea
12.4.9.1 South Korea Chicory Market by Product Type
12.4.9.2 South Korea Chicory Market by Flour
12.4.9.3 South Korea Chicory Market by Plant Part
12.4.9.4 South Korea Chicory Market by Application
12.4.10 Vietnam
12.4.10.1 Vietnam Chicory Market by Product Type
12.4.10.2 Vietnam Chicory Market by Flour
12.4.10.3 Vietnam Chicory Market by Plant Part
12.4.10.4 Vietnam Chicory Market by Application
12.4.11 Singapore
12.4.11.1 Singapore Chicory Market by Product Type
12.4.11.2 Singapore Chicory Market by Flour
12.4.11.3 Singapore Chicory Market by Plant Part
12.4.11.4 Singapore Chicory Market by Application
12.4.12 Australia
12.4.12.1 Australia Chicory Market by Product Type
12.4.12.2 Australia Chicory Market by Flour
12.4.12.3 Australia Chicory Market by Plant Part
12.4.12.4 Australia Chicory Market by Application
12.4.13 Rest of Asia-Pacific
12.4.13.1 Rest of Asia-Pacific Chicory Market by Product Type
12.4.13.2 Rest of Asia-Pacific APAC Chicory Market by Flour
12.4.13.3 Rest of Asia-Pacific Chicory Market by Plant Part
12.4.13.4 Rest of Asia-Pacific Chicory Market by Application
12.5 Middle East & Africa
12.5.1 Middle East
12.5.1.1 Middle East Chicory Market by country
12.5.1.2 Middle East Chicory Market by Product Type
12.5.1.3 Middle East Chicory Market by Flour
12.5.1.4 Middle East Chicory Market by Plant Part
12.5.1.5 Middle East Chicory Market by Application
12.5.1.6 UAE
12.5.1.6.1 UAE Chicory Market by Product Type
12.5.1.6.2 UAE Chicory Market by Flour
12.5.1.6.3 UAE Chicory Market by Plant Part
12.5.1.6.4 UAE Chicory Market by Application
12.5.1.7 Egypt
12.5.1.7.1 Egypt Chicory Market by Product Type
12.5.1.7.2 Egypt Chicory Market by Flour
12.5.1.7.3 Egypt Chicory Market by Plant Part
12.5.1.7.4 Egypt Chicory Market by Application
12.5.1.8 Saudi Arabia
12.5.1.8.1 Saudi Arabia Chicory Market by Product Type
12.5.1.8.2 Saudi Arabia Chicory Market by Flour
12.5.1.8.3 Saudi Arabia Chicory Market by Plant Part
12.5.1.8.4 Saudi Arabia Chicory Market by Application
12.5.1.9 Qatar
12.5.1.9.1 Qatar Chicory Market by Product Type
12.5.1.9.2 Qatar Chicory Market by Flour
12.5.1.9.3 Qatar Chicory Market by Plant Part
12.5.1.9.4 Qatar Chicory Market by Application
12.5.1.10 Rest of Middle East
12.5.1.10.1 Rest of Middle East Chicory Market by Product Type
12.5.1.10.2 Rest of Middle East Chicory Market by Flour
12.5.1.10.3 Rest of Middle East Chicory Market by Plant Part
12.5.1.10.4 Rest of Middle East Chicory Market by Application
12.5.2. Africa
12.5.2.1 Africa Chicory Market by country
12.5.2.2 Africa Chicory Market by Product Type
12.5.2.3 Africa Chicory Market by Flour
12.5.2.4 Africa Chicory Market by Plant Part
12.5.2.5 Africa Chicory Market by Application
12.5.2.6 Nigeria
12.5.2.6.1 Nigeria Chicory Market by Product Type
12.5.2.6.2 Nigeria Chicory Market by Flour
12.5.2.6.3 Nigeria Chicory Market by Plant Part
12.5.2.6.4 Nigeria Chicory Market by Application
12.5.2.7 South Africa
12.5.2.7.1 South Africa Chicory Market by Product Type
12.5.2.7.2 South Africa Chicory Market by Flour
12.5.2.7.3 South Africa Chicory Market by Plant Part
12.5.2.7.4 South Africa Chicory Market by Application
12.5.2.8 Rest of Africa
12.5.2.8.1 Rest of Africa Chicory Market by Product Type
12.5.2.8.2 Rest of Africa Chicory Market by Flour
12.5.2.8.3 Rest of Africa Chicory Market by Plant Part
12.5.2.8.4 Rest of Africa Chicory Market by Application
12.6. Latin America
12.6.1 Latin America Chicory Market by country
12.6.2 Latin America Chicory Market by Product Type
12.6.3 Latin America Chicory Market by Flour
12.6.4 Latin America Chicory Market by Plant Part
12.6.5 Latin America Chicory Market by Application
12.6.6 Brazil
12.6.6.1 Brazil Chicory Market by Product Type
12.6.6.2 Brazil Chicory Market by Flour
12.6.6.3 Brazil Chicory Market by Plant Part
12.6.6.4 Brazil Chicory Market by Application
12.6.7 Argentina
12.6.7.1 Argentina Chicory Market by Product Type
12.6.7.2 Argentina Chicory Market by Flour
12.6.7.3 Argentina Chicory Market by Plant Part
12.6.7.4 Argentina Chicory Market by Application
12.6.8 Colombia
12.6.8.1 Colombia Chicory Market by Product Type
12.6.8.2 Colombia Chicory Market by Flour
12.6.8.3 Colombia Chicory Market by Plant Part
12.6.8.4 Colombia Chicory Market by Application
12.6.9 Rest of Latin America
12.6.9.1 Rest of Latin America Chicory Market by Product Type
12.6.9.2 Rest of Latin America Chicory Market by Flour
12.6.9.3 Rest of Latin America Chicory Market by Plant Part
12.6.9.4 Rest of Latin America Chicory Market by Application
13 Company Profile
13.1 PMV Nutrient Products Pvt Ltd
13.1.1 Market Overview
13.1.2 Financials
13.1.3 Product/Services Offered
13.1.4 SWOT Analysis
13.1.5 The SNS View
13.2 Farmvilla Food Industries Pvt Ltd
13.2.1 Market Overview
13.2.2 Financials
13.2.3 Product/Services Offered
13.2.4 SWOT Analysis
13.2.5 The SNS View
13.3 Murlikrishna Foods Pvt Ltd
13.3.1 Market Overview
13.3.2 Financials
13.3.3 Product/Services Offered
13.3.4 SWOT Analysis
13.3.5 The SNS View
13.4 Starwest Botanicals
13.4 Market Overview
13.4.2 Financials
13.4.3 Product/Services Offered
13.4.4 SWOT Analysis
13.4.5 The SNS View
13.5 STOKROS Company Ltd
13.5.1 Market Overview
13.5.2 Financials
13.5.3 Product/Services Offered
13.5.4 SWOT Analysis
13.5.5 The SNS View
13.6 Nature’s Gold Production
13.6.1 Market Overview
13.6.2 Financials
13.6.3 Product/Services Offered
13.6.4 SWOT Analysis
13.6.5 The SNS View
13.7 Organic Herb Trading Co
13.7.1 Market Overview
13.7.2 Financials
13.7.3 Product/Services Offered
13.7.4 SWOT Analysis
13.7.5 The SNS View
13.8 Narasu’s Coffee Company
13.8.1 Market Overview
13.8.2 Financials
13.8.3 Product/Services Offered
13.8.4 SWOT Analysis
13.8.5 The SNS View
13.9 NP Nutra
13.9.1 Market Overview
13.9.2 Financials
13.9.3 Product/Services Offered
13.9.4 SWOT Analysis
13.9.5 The SNS View
13.10 Shaanxi Sciphar Natural Product Co Ltd.
13.10.1 Company Overview
13.10.2 Financials
13.10.3 Product/Services Offered
13.10.4 SWOT Analysis
13.10.5 The SNS View
14. Competitive Landscape
14.1 Competitive Benchmarking
14.2 Market Share Analysis
14.3 Recent Developments
14.3.1 Industry News
14.3.2 Company News
14.3.3 Mergers & Acquisitions
15. USE Cases and Best Practices
16. Conclusion
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Secondary Research or Desk Research is as the name suggests is a research process wherein, we collect data through the readily available information. In this process we use various paid and unpaid databases which our team has access to and gather data through the same. This includes examining of listed companies’ annual reports, Journals, SEC filling etc. Apart from this our team has access to various associations across the globe across different industries. Lastly, we have exchange relationships with various university as well as individual libraries.
Step 2: Primary Research
When we talk about primary research, it is a type of study in which the researchers collect relevant data samples directly, rather than relying on previously collected data. This type of research is focused on gaining content specific facts that can be sued to solve specific problems. Since the collected data is fresh and first hand therefore it makes the study more accurate and genuine.
We at SNS Insider have divided Primary Research into 2 parts.
Part 1 wherein we interview the KOLs of major players as well as the upcoming ones across various geographic regions. This allows us to have their view over the market scenario and acts as an important tool to come closer to the accurate market numbers. As many as 45 paid and unpaid primary interviews are taken from both the demand and supply side of the industry to make sure we land at an accurate judgement and analysis of the market.
This step involves the triangulation of data wherein our team analyses the interview transcripts, online survey responses and observation of on filed participants. The below mentioned chart should give a better understanding of the part 1 of the primary interview.
Part 2: In this part of primary research the data collected via secondary research and the part 1 of the primary research is validated with the interviews from individual consultants and subject matter experts.
Consultants are those set of people who have at least 12 years of experience and expertise within the industry whereas Subject Matter Experts are those with at least 15 years of experience behind their back within the same space. The data with the help of two main processes i.e., FGDs (Focused Group Discussions) and IDs (Individual Discussions). This gives us a 3rd party nonbiased primary view of the market scenario making it a more dependable one while collation of the data pointers.
Step 3: Data Bank Validation
Once all the information is collected via primary and secondary sources, we run that information for data validation. At our intelligence centre our research heads track a lot of information related to the market which includes the quarterly reports, the daily stock prices, and other relevant information. Our data bank server gets updated every fortnight and that is how the information which we collected using our primary and secondary information is revalidated in real time.
Step 4: QA/QC Process
After all the data collection and validation our team does a final level of quality check and quality assurance to get rid of any unwanted or undesired mistakes. This might include but not limited to getting rid of the any typos, duplication of numbers or missing of any important information. The people involved in this process include technical content writers, research heads and graphics people. Once this process is completed the title gets uploader on our platform for our clients to read it.
Step 5: Final QC/QA Process:
This is the last process and comes when the client has ordered the study. In this process a final QA/QC is done before the study is emailed to the client. Since we believe in giving our clients a good experience of our research studies, therefore, to make sure that we do not lack at our end in any way humanly possible we do a final round of quality check and then dispatch the study to the client.
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