North America Feed Additives Market Analysis by Mordor Intelligence
The North America feed additives market size stood at USD 10.06 billion in 2025 and is projected to reach USD 13.37 billion by 2030, advancing at a 5.8% CAGR during the forecast period. Robust demand for precision livestock nutrition, regulatory limits on antibiotic growth promoters, and rising sustainability mandates underpin the steady expansion of the North America feed additives market. Industrial livestock consolidation spurs larger farms to adopt tailored additive packages that improve feed conversion ratios and animal performance. Concurrently, digital formulation platforms that leverage real-time data analytics strengthen supplier differentiation, while supply-chain vulnerabilities in amino acid sourcing continue to influence price dynamics. Heightened merger and acquisition activity signals a maturing competitive arena as leading firms re-focus on core competencies through strategic divestitures and portfolio realignments.[1]Source: DSM-Firmenich, “DSM-Firmenich to Sell Stake in Feed Enzymes Alliance to Its Partner Novonesis for EUR 1.5 Billion,” dsm-firmenich.com
Key Report Takeaways
- By additive, amino acids commanded 20.7% of the North America feed additives market share in 2024, whereas acidifiers are forecast to expand at a 6.7% CAGR through 2030.
- By animal, poultry accounted for 41.0% of the North America feed additives market size in 2024; ruminants post the fastest growth outlook at a 6.0% CAGR to 2030.
- By geography, the United States dominated with a 70.4% share of the North America feed additives market size in 2024; and is forecast to record the highest CAGR at 6.1% through 2030.
North America Feed Additives Market Trends and Insights
Drivers Impact Analysis
| Driver | (~) % Impact on CAGR Forecast | Geographic Relevance | Impact Timeline |
|---|---|---|---|
| Rising demand for high-protein meat and dairy | +1.20% | North America core, spillover to export markets | Medium term (2-4 years) |
| Expansion of industrial livestock and poultry production | +0.80% | United States Midwest, Canadian Prairies, Mexico central regions | Long term (≥ 4 years) |
| Regulatory push to reduce antibiotic growth promoters | +1.50% | North America, with early adoption in California and European Union-aligned provinces | Short term (≤ 2 years) |
| Functional feed aimed at lowering livestock methane emissions | +0.70% | Global, with North America leading implementation | Medium term (2-4 years) |
| Growth of insect-based protein meal requiring tailored premixes | +0.30% | North America niche markets, expanding to mainstream | Long term (≥ 4 years) |
| Digital twin modeling accelerating customized additive adoption | +0.40% | North America tech-forward operations, global expansion | Medium term (2-4 years) |
| Source: Mordor Intelligence | |||
Rising Demand for High-Protein Meat and Dairy
Consumer dietary patterns increasingly favor protein-rich foods, driving livestock producers to maximize feed conversion efficiency through targeted additive supplementation. North American per-capita meat consumption remains among the world's highest, with poultry consumption alone reaching 50.8 kg annually, necessitating optimized amino acid profiles to support rapid muscle development and egg production. Dairy operations particularly benefit from precision mineral supplementation and rumen-protected amino acids that enhance milk protein content while reducing nitrogen excretion. This trend accelerates the adoption of specialized additives, including organic trace minerals, bypass proteins, and metabolizable energy enhancers that directly correlate with protein output metrics. The economic multiplier effect becomes evident as feed costs represent 60-70% of total livestock production expenses, making additive-driven efficiency gains critical for maintaining profit margins amid volatile commodity prices.
Expansion of Industrial Livestock and Poultry Production
Consolidation toward larger-scale operations fundamentally alters additive demand patterns as mega-farms implement sophisticated nutrition management systems requiring consistent, scientifically validated feed formulations. Operations exceeding 10,000 head capacity increasingly dominate North American livestock production, with these facilities generating economies of scale that justify investment in premium additive packages and precision feeding technologies. The vertical integration trend sees major protein companies acquiring feed mills and additive suppliers to control quality and costs throughout the production chain. Geographic concentration in regions with favorable climate, water access, and transportation infrastructure drives localized additive demand spikes, particularly in the US Corn Belt and Canadian Prairie provinces. This industrialization process accelerates the adoption of automation-compatible additive forms, including liquid supplements, microencapsulated products, and precision-dosing systems that integrate with existing feed manufacturing equipment.
Regulatory Push to Reduce Antibiotic Growth Promoters
FDA's Veterinary Feed Directive implementation and subsequent guidance updates create sustained demand for alternative growth promotion strategies, positioning probiotics, prebiotics, and phytogenics as primary beneficiaries of regulatory-driven market shifts. The transition from prophylactic antibiotic use to targeted therapeutic applications requires producers to maintain animal performance through nutritional interventions, driving adoption of acidifiers that optimize gut pH, enzymes that enhance nutrient digestibility, and immune-supporting additives. The regulatory environment favors companies with established safety databases and regulatory expertise, as novel additive approvals require extensive documentation of efficacy and safety profiles. This dynamic particularly benefits established players with diversified portfolios spanning multiple additive categories and regulatory jurisdictions.[2]Source: U.S. Food and Drug Administration, “Judicious Use of Medically Important Antimicrobials in Food-Producing Animals,” fda.gov
Functional Feed Aimed at Lowering Livestock Methane Emissions
Environmental regulations targeting greenhouse gas emissions from livestock operations create emerging market opportunities for methane-mitigating feed additives, with 3-nitrooxypropanol (3-NOP) leading commercial adoption following regulatory approvals. Ruminant operations face increasing pressure to demonstrate emissions reduction as carbon pricing mechanisms and sustainability certification programs gain traction across North American agricultural markets. Dairy cooperatives and beef packers increasingly require sustainability metrics from suppliers, driving adoption of feed additives that provide measurable environmental benefits alongside production performance. Research partnerships between additive manufacturers and academic institutions accelerate the development of next-generation methane reduction technologies, including seaweed-based additives, essential oil blends, and rumen microbiome modulators. The economic value proposition strengthens as carbon credit markets mature and environmental premiums become standard in livestock marketing channels.
Restraints Impact Analysis
| Restraint | (~) % Impact on CAGR Forecast | Geographic Relevance | Impact Timeline |
|---|---|---|---|
| Volatile raw-material prices for key additives | -0.90% | North America, with global supply-chain dependencies | Short term (≤ 2 years) |
| Lengthy FDA and CFIA approval timelines for new additives | -0.60% | North America regulatory jurisdictions | Long term (≥ 4 years) |
| Retail pressure driven by consumer skepticism toward synthetics | -0.40% | North America consumer markets, premium segments | Medium term (2-4 years) |
| Supply-chain risk from geographic concentration of amino-acid production | -0.70% | Global, with North America import dependencies | Medium term (2-4 years) |
| Source: Mordor Intelligence | |||
Volatile Raw-Material Prices for Key Additives
Amino acid price volatility directly impacts feed additive market dynamics as methionine and lysine costs fluctuate 20-40% annually based on energy prices, raw material availability, and production capacity utilization in Asia-Pacific manufacturing hubs. The concentration of global amino acid production in China creates supply chain vulnerabilities that translate into unpredictable cost structures for North American feed manufacturers and livestock producers. The economic impact cascades through the value chain as livestock producers adjust additive inclusion rates based on cost-benefit calculations, potentially compromising animal performance during periods of extreme price volatility. Forward contracting and price hedging mechanisms provide limited protection due to the specialized nature of many additive ingredients and limited supplier alternatives.
Lengthy FDA and CFIA Approval Timelines for New Additives
Regulatory approval processes for novel feed additives require 3-7 years from initial submission to market authorization, creating barriers to innovation and limiting the introduction of next-generation products that could address emerging market needs. The FDA's Center for Veterinary Medicine maintains stringent safety and efficacy standards that necessitate extensive animal feeding trials, toxicology studies, and manufacturing quality documentation, resulting in approval costs exceeding USD 2 million for complex additive formulations. Established companies with extensive regulatory portfolios maintain competitive advantages through their ability to navigate complex approval processes and leverage existing safety databases for line extensions and reformulations. The lengthy timelines create market timing risks as competitive dynamics and customer needs may shift significantly during the approval period.
Segment Analysis
By Additive: Amino Acids Dominance Meets Acidifier Innovation
Amino acids retained the largest slice of the North America feed additives market at 20.7% in 2024, sustained by relentless methionine and lysine demand from high-density poultry and swine units. The North America feed additives market size for amino acids is predicted to expand steadily as capacity expansions by Evonik and strategic repositioning by DSM-Firmenich bolster regional supplies. Acidifiers register the highest growth momentum at a 6.7% CAGR through 2030, propelled by regulatory curbs on antibiotic growth promoters that spotlight organic acid efficacy in gut-health management.
Beyond these headline categories, probiotics, enzymes, and organic minerals collectively build share on the back of enhanced bioavailability and environmental stewardship narratives. Competitive intensity increases as niche innovators exploit unmet needs in heat-stable enzymes and micro-encapsulation, yet supply-chain concentration keeps raw-material volatility a persistent concern.
Note: Segment shares of all individual segments available upon report purchase
By Animal: Poultry Leadership Challenged by Ruminant Growth
Poultry remains the biggest user of feed additives in North America, accounting for 41.0% of demand in 2024. Broiler and layer farms rely on carefully balanced starter, grower, and layer diets to hit growth, feed efficiency, and egg production targets. Starter rations focus on precise amino acid blends that help young birds build muscle fast. Layer diets add calcium, pigments, and other performance boosters to strengthen shells and improve yolk color. While poultry leads today, ruminant operations represent the quickest riser, with a 6.0% CAGR projected through 2030 as methane‐cutting mandates, dairy consolidation, and precision feeding tools reshape cattle nutrition.
Competition in poultry nutrition is shaped by large protein companies that own their own feed mills and research centers, giving them tight control over additive quality and formula design. Swine producers also use significant volumes of additives, especially gut health products that replace banned antibiotic growth promoters. Aquaculture is carving out a niche as salmon and trout farms in the Pacific Northwest and Atlantic Canada call for species-specific blends that suit unique digestive systems and water conditions. The Huvepharma and ADM alliance announced in August 2024 underscores growing interest in ruminant solutions, with products such as Garlium for better palatability and Nexulin for dairy cow performance. Pet food makers and specialty livestock producers round out the market, taking advantage of premium nutrition trends to support steady, if smaller, growth.
Note: Segment shares of all individual segments available upon report purchase
Geography Analysis
The United States accounted for approximately 70.4% of North America's feed additives market demand in 2024 at a CAGR of 6.1%, powered by the world’s largest livestock inventory and integrated supply chains. Regulatory clarity under FDA oversight supports long-range product planning, though innovation cycles remain constrained by protracted approval processes. California’s aggressive methane and antibiotic policies foster early adoption of next-generation additives, creating a bellwether effect for the rest of the country.
Canada represents the second-largest market with a significant regional share in 2024, characterized by integrated livestock operations in Prairie provinces and specialized dairy farming in Quebec and Ontario that drive distinct additive demand patterns. CFIA's regulatory framework generally aligns with FDA standards while maintaining unique requirements for bilingual labeling and specific veterinary health product categories, creating market entry considerations for international suppliers. The Canadian market demonstrates strong growth in organic and natural additive categories, reflecting consumer preferences that influence livestock production practices and feed formulation strategies.
Mexico contributes approximately 10% of regional demand through expanding poultry and swine operations that increasingly adopt modern production technologies and nutritional programs. SENASICA's evolving regulatory framework creates opportunities for established additive suppliers with regulatory expertise to capture market share as Mexican producers upgrade their nutritional management systems to compete in export markets.
Competitive Landscape
The North America feed additives market exhibits fragmentation, with the top five players combined share. Archer Daniels Midland leads with a significant market share in 2024, leveraging its integrated agricultural value chain and extensive distribution network to maintain competitive positioning across multiple additive categories. The competitive environment increasingly favors companies with diversified portfolios spanning amino acids, vitamins, enzymes, and specialty additives, as livestock producers prefer consolidated supplier relationships that simplify procurement and technical support requirements.
Strategic consolidation reshapes market dynamics through major transactions, including Phibro Animal Health's USD 350 million acquisition of Zoetis' medicated feed additive portfolio in November 2024, adding over 37 product lines and 6 manufacturing facilities to strengthen its position in cattle, swine, and poultry segments.[3]Source: Phibro Animal Health Corporation, “Phibro Completes Acquisition of Zoetis Medicated Feed Additive Portfolio,” pahc.com
Technology-driven differentiation emerges as a key competitive factor, with partnerships like Novus International's collaboration with Ginkgo Bioworks announced in September 2024 to develop advanced enzyme solutions using cell programming platforms. White-space opportunities exist in methane-reducing additives, precision delivery systems, and microbiome-based solutions where regulatory approvals and technical expertise create barriers to entry that protect early movers from competitive pressure.
North America Feed Additives Industry Leaders
-
Adisseo
-
Evonik Industries AG
-
SHV (Nutreco NV)
-
Archer Daniels Midland Co.
-
DSM-Firmenich AG
- *Disclaimer: Major Players sorted in no particular order
Recent Industry Developments
- February 2025: DSM-Firmenich completed the sale of its stake in the Feed Enzymes Alliance to partner Novonesis for EUR 1.5 billion (USD 1.61 billion), with the disposed feed-enzyme activities generating approximately EUR 300 million (USD 321 million) net revenue in 2024, as part of the company's broader strategy to divest its Animal Nutrition and Health unit during 2025.
- November 2024: Phibro Animal Health Corporation completed its USD 350 million acquisition of Zoetis' medicated feed additive product portfolio and certain water-soluble products, adding over 37 product lines sold in approximately 80 countries and six manufacturing sites located in the United States, Italy, and China, along with more than 300 employees supporting manufacturing and distribution operations.
- September 2024: Anpario plc completed the acquisition of Bio-Vet Inc., a Wisconsin-based direct-fed microbials specialist, for USD 7.3 million, gaining access to the US dairy market and proprietary Capsule-In-A-Capsule delivery technology, with Bio-Vet generating USD 8.2 million revenue in 2023 and direct-fed microbials accounting for approximately 50% of sales.
North America Feed Additives Market Report Scope
Acidifiers, Amino Acids, Antibiotics, Antioxidants, Binders, Enzymes, Flavors & Sweeteners, Minerals, Mycotoxin Detoxifiers, Phytogenics, Pigments, Prebiotics, Probiotics, Vitamins, Yeast are covered as segments by Additive. Aquaculture, Poultry, Ruminants, Swine are covered as segments by Animal. Canada, Mexico, United States are covered as segments by Country.| Acidifiers | By Sub Additive | Fumaric Acid |
| Lactic Acid | ||
| Propionic Acid | ||
| Other Acidifiers | ||
| Amino Acids | By Sub Additive | Lysine |
| Methionine | ||
| Threonine | ||
| Tryptophan | ||
| Other Amino Acids | ||
| Antibiotics | By Sub Additive | Bacitracin |
| Penicillins | ||
| Tetracyclines | ||
| Tylosin | ||
| Other Antibiotics | ||
| Antioxidants | By Sub Additive | Butylated Hydroxyanisole (BHA) |
| Butylated Hydroxytoluene (BHT) | ||
| Citric Acid | ||
| Ethoxyquin | ||
| Propyl Gallate | ||
| Tocopherols | ||
| Other Antioxidants | ||
| Binders | By Sub Additive | Natural Binders |
| Synthetic Binders | ||
| Enzymes | By Sub Additive | Carbohydrases |
| Phytases | ||
| Other Enzymes | ||
| Flavors & Sweeteners | By Sub Additive | Flavors |
| Sweeteners | ||
| Minerals | By Sub Additive | Macrominerals |
| Microminerals | ||
| Mycotoxin Detoxifiers | By Sub Additive | Binders |
| Biotransformers | ||
| Phytogenics | By Sub Additive | Essential Oil |
| Herbs & Spices | ||
| Other Phytogenics | ||
| Pigments | By Sub Additive | Carotenoids |
| Curcumin & Spirulina | ||
| Prebiotics | By Sub Additive | Fructo Oligosaccharides |
| Galacto Oligosaccharides | ||
| Inulin | ||
| Lactulose | ||
| Mannan Oligosaccharides | ||
| Xylo Oligosaccharides | ||
| Other Prebiotics | ||
| Probiotics | By Sub Additive | Bifidobacteria |
| Enterococcus | ||
| Lactobacilli | ||
| Pediococcus | ||
| Streptococcus | ||
| Other Probiotics | ||
| Vitamins | By Sub Additive | Vitamin A |
| Vitamin B | ||
| Vitamin C | ||
| Vitamin E | ||
| Other Vitamins | ||
| Yeast | By Sub Additive | Live Yeast |
| Selenium Yeast | ||
| Spent Yeast | ||
| Torula Dried Yeast | ||
| Whey Yeast | ||
| Yeast Derivatives |
| Aquaculture | By Sub Animal | Fish |
| Shrimp | ||
| fish | ||
| Other Aquaculture Species | ||
| Poultry | By Sub Animal | Broiler |
| Layer | ||
| Other Poultry Birds | ||
| Ruminants | By Sub Animal | Beef Cattle |
| Dairy Cattle | ||
| Other Ruminants | ||
| Swine | ||
| Other Animals |
| Canada |
| Mexico |
| United States |
| Rest of North America |
| Additive | Acidifiers | By Sub Additive | Fumaric Acid |
| Lactic Acid | |||
| Propionic Acid | |||
| Other Acidifiers | |||
| Amino Acids | By Sub Additive | Lysine | |
| Methionine | |||
| Threonine | |||
| Tryptophan | |||
| Other Amino Acids | |||
| Antibiotics | By Sub Additive | Bacitracin | |
| Penicillins | |||
| Tetracyclines | |||
| Tylosin | |||
| Other Antibiotics | |||
| Antioxidants | By Sub Additive | Butylated Hydroxyanisole (BHA) | |
| Butylated Hydroxytoluene (BHT) | |||
| Citric Acid | |||
| Ethoxyquin | |||
| Propyl Gallate | |||
| Tocopherols | |||
| Other Antioxidants | |||
| Binders | By Sub Additive | Natural Binders | |
| Synthetic Binders | |||
| Enzymes | By Sub Additive | Carbohydrases | |
| Phytases | |||
| Other Enzymes | |||
| Flavors & Sweeteners | By Sub Additive | Flavors | |
| Sweeteners | |||
| Minerals | By Sub Additive | Macrominerals | |
| Microminerals | |||
| Mycotoxin Detoxifiers | By Sub Additive | Binders | |
| Biotransformers | |||
| Phytogenics | By Sub Additive | Essential Oil | |
| Herbs & Spices | |||
| Other Phytogenics | |||
| Pigments | By Sub Additive | Carotenoids | |
| Curcumin & Spirulina | |||
| Prebiotics | By Sub Additive | Fructo Oligosaccharides | |
| Galacto Oligosaccharides | |||
| Inulin | |||
| Lactulose | |||
| Mannan Oligosaccharides | |||
| Xylo Oligosaccharides | |||
| Other Prebiotics | |||
| Probiotics | By Sub Additive | Bifidobacteria | |
| Enterococcus | |||
| Lactobacilli | |||
| Pediococcus | |||
| Streptococcus | |||
| Other Probiotics | |||
| Vitamins | By Sub Additive | Vitamin A | |
| Vitamin B | |||
| Vitamin C | |||
| Vitamin E | |||
| Other Vitamins | |||
| Yeast | By Sub Additive | Live Yeast | |
| Selenium Yeast | |||
| Spent Yeast | |||
| Torula Dried Yeast | |||
| Whey Yeast | |||
| Yeast Derivatives | |||
| Animal | Aquaculture | By Sub Animal | Fish |
| Shrimp | |||
| fish | |||
| Other Aquaculture Species | |||
| Poultry | By Sub Animal | Broiler | |
| Layer | |||
| Other Poultry Birds | |||
| Ruminants | By Sub Animal | Beef Cattle | |
| Dairy Cattle | |||
| Other Ruminants | |||
| Swine | |||
| Other Animals | |||
| Geography | Canada | ||
| Mexico | |||
| United States | |||
| Rest of North America | |||
Market Definition
- FUNCTIONS - For the study, feed additives are considered to be commercially manufactured products that are used to enhance characteristics such as weight gain, feed conversion ratio, and feed intake when fed in appropriate proportions.
- RESELLERS - Companies engaged in reselling feed additives without value addition have been excluded from the market scope, to avoid double counting.
- END CONSUMERS - Compound feed manufacturers are considered to be end-consumers in the market studied. The scope excludes farmers buying feed additives to be used directly as supplements or premixes.
- INTERNAL COMPANY CONSUMPTION - Companies engaged in the production of compound feed as well as the manufacturing of feed additives are part of the study. However, while estimating the market sizes, the internal consumption of feed additives by such companies has been excluded.
| Keyword | Definition |
|---|---|
| Feed additives | Feed additives are products used in animal nutrition for purposes of improving the quality of feed and the quality of food from animal origin, or to improve the animals’ performance and health. |
| Probiotics | Probiotics are microorganisms introduced into the body for their beneficial qualities. (It maintains or restores beneficial bacteria to the gut). |
| Antibiotics | Antibiotic is a drug that is specifically used to inhibit the growth of bacteria. |
| Prebiotics | A non-digestible food ingredient that promotes the growth of beneficial microorganisms in the intestines. |
| Antioxidants | Antioxidants are compounds that inhibit oxidation, a chemical reaction that produces free radicals. |
| Phytogenics | Phytogenics are a group of natural and non-antibiotic growth promoters derived from herbs, spices, essential oils, and oleoresins. |
| Vitamins | Vitamins are organic compounds, which are required for normal growth and maintenance of the body. |
| Metabolism | A chemical process that occurs within a living organism in order to maintain life. |
| Amino acids | Amino acids are the building blocks of proteins and play an important role in metabolic pathways. |
| Enzymes | Enzyme is a substance that acts as a catalyst to bring about a specific biochemical reaction. |
| Anti-microbial resistance | The ability of a microorganism to resist the effects of an antimicrobial agent. |
| Anti-microbial | Destroying or inhibiting the growth of microorganisms. |
| Osmotic balance | It is a process of maintaining salt and water balance across membranes within the body's fluids. |
| Bacteriocin | Bacteriocins are the toxins produced by bacteria to inhibit the growth of similar or closely related bacterial strains. |
| Biohydrogenation | It is a process that occurs in the rumen of an animal in which bacteria convert unsaturated fatty acids (USFA) to saturated fatty acids (SFA). |
| Oxidative rancidity | It is a reaction of fatty acids with oxygen, which generally causes unpleasant odors in animals. To prevent these, antioxidants were added. |
| Mycotoxicosis | Any condition or disease caused by fungal toxins, mainly due to contamination of animal feed with mycotoxins. |
| Mycotoxins | Mycotoxins are toxin compounds that are naturally produced by certain types of molds (fungi). |
| Feed Probiotics | Microbial feed supplements positively affect gastrointestinal microbial balance. |
| Probiotic yeast | Feed yeast (single-cell fungi) and other fungi used as probiotics. |
| Feed enzymes | They are used to supplement digestive enzymes in an animal’s stomach to break down food. Enzymes also ensure that meat and egg production is improved. |
| Mycotoxin detoxifiers | They are used to prevent fungal growth and to stop any harmful mold from being absorbed in the gut and blood. |
| Feed antibiotics | They are used both for the prevention and treatment of diseases but also for rapid growth and development. |
| Feed antioxidants | They are used to protect the deterioration of other feed nutrients in the feed such as fats, vitamins, pigments, and flavoring agents, thus providing nutrient security to the animals. |
| Feed phytogenics | Phytogenics are natural substances, added to livestock feed to promote growth, aid in digestion, and act as anti-microbial agents. |
| Feed vitamins | They are used to maintain the normal physiological function and normal growth and development of animals. |
| Feed flavors and sweetners | These flavors and sweeteners help to mask tastes and odors during changes in additives or medications and make them ideal for animal diets undergoing transition. |
| Feed acidifiers | Animal feed acidifiers are organic acids incorporated into the feed for nutritional or preservative purposes. Acidifiers enhance congestion and microbiological balance in the alimentary and digestive tracts of livestock. |
| Feed minerals | Feed minerals play an important role in the regular dietary requirements of animal feed. |
| Feed binders | Feed binders are the binding agents used in the manufacture of safe animal feed products. It enhances the taste of food and prolongs the storage period of the feed. |
| Key Terms | Abbreviation |
| LSDV | Lumpy Skin Disease Virus |
| ASF | African Swine Fever |
| GPA | Growth Promoter Antibiotics |
| NSP | Non-Starch Polysaccharides |
| PUFA | Polyunsaturated Fatty Acid |
| Afs | Aflatoxins |
| AGP | Antibiotic Growth Promoters |
| FAO | The Food And Agriculture Organization of the United Nations |
| USDA | The United States Department of Agriculture |
Research Methodology
Mordor Intelligence follows a four-step methodology in all our reports.
- Step-1: IDENTIFY KEY VARIABLES: In order to build a robust forecasting methodology, the variables and factors identified in Step-1 are tested against available historical market numbers. Through an iterative process, the variables required for market forecast are set and the model is built on the basis of these variables.
- Step-2: Build a Market Model: Market-size estimations for the forecast years are in nominal terms. Inflation is not a part of the pricing, and the average selling price (ASP) is kept constant throughout the forecast period.
- Step-3: Validate and Finalize: In this important step, all market numbers, variables and analyst calls are validated through an extensive network of primary research experts from the market studied. The respondents are selected across levels and functions to generate a holistic picture of the market studied.
- Step-4: Research Outputs: Syndicated Reports, Custom Consulting Assignments, Databases & Subscription Platforms