A three-pronged approach was followed for deducing the human milk oligosaccharides market estimates and forecasts. The process has three steps: information procurement, analysis, and validation. The whole process is cyclical, and steps repeat until the estimates are validated. The three steps are explained in detail below:
Information procurement: Information procurement is one of the most extensive and important stages in our research process, and quality data is critical for accurate analysis. We followed a multi-channel data collection process for human milk oligosaccharides market to gather the most reliable and current information possible.
Analysis: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilized different methods of human milk oligosaccharides market data depending on the type of information we’re trying to uncover in our research.
Market Research Efforts: Bottom-up Approach for estimating and forecasting demand size and opportunity, top-down Approach for new product forecasting and penetration, and combined approach of both Bottom-up and Top-down for full coverage analysis.
Value-Chain-Based Sizing & Forecasting: Supply-side estimates for understanding potential revenue through competitive benchmarking, forecasting, and penetration modeling.
Demand-side estimates for identifying parent and ancillary markets, segment modeling, and heuristic forecasting.
Qualitative Functional Deployment (QFD) Modelling for market share assessment.
Market formulation and validation: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilize different methods of data analysis depending on the type of information we’re trying to uncover in our research.
Market Formulation: This step involves the finalization of market numbers. This step on an internal level is designed to manage outputs from the Data Analysis step.
Data Normalization: The final market estimates and forecasts are then aligned and sent to industry experts, in-panel quality control managers for validation.
This step also entails the finalization of the report scope and data representation pattern.
Validation: The process entails multiple levels of validation. All these steps run in parallel, and the study is forwarded for publishing only if all three levels render validated results.
The human milk oligosaccharides market was categorized into three segments, namely type (2’FL, 3’FL, 3’SL, 6’SL, LNT, LNnT), Application (Food & Beverages, Dietary Supplements, Infant Formula, Pharmaceuticals), and regions (North America, Europe, Asia Pacific, Central & South America, Middle East & Africa).
The human milk oligosaccharides market was segmented into type, Application, and regions. The demand at a segment level was deduced using a funnel method. Concepts like the TAM, SAM, SOM, etc., were put into practice to understand the demand. We at GVR deploy three methods to deduce market estimates and determine forecasts. These methods are explained below:
Demand estimation of each product across countries/regions summed up to from the total market.
Variable analysis for demand forecast.
Demand estimation via analyzing paid database, and company financials either via annual reports or paid database.
Primary interviews for data revalidation and insight collection.
Used extensively for new product forecasting or analyzing penetration levels.
Tool used invoice product flow and penetration models Use of regression multi-variant analysis for forecasting Involves extensive use of paid and public databases.
Primary interviews and vendor-based primary research for variable impact analysis.
The human milk oligosaccharides market was analyzed at a regional level. The global was divided into North America, Europe, Asia Pacific, Central & South America, and Middle East & Africa, keeping in focus variables like consumption patterns, export-import regulations, consumer expectations, etc. These regions were further divided into fourteen countries, namely, the U.S.; Canada; Mexico; the UK; Germany; France; Italy; Spain; China; Japan; India; Australia; Brazil; South Africa.
All three above-mentioned market research methodologies were applied to arrive at regional-level conclusions. The regions were then summed up to form the global market.
The human milk oligosaccharides market was analyzed via companies operating in the sector. Analyzing these companies and cross-referencing them to the demand equation helped us validate our assumptions and conclusions. Key market players analyzed include:
Inbiose NV - Inbiose NV, founded in 2013, is a biotech company headquartered in Ghent, Belgium. The company started its operation as an initiative of Ghent University and was later registered as a separate entity. It uses fermentation technology to produce rare and complex specialty carbohydrates. The company offers specialty carbohydrate ingredients to nutrition & health, personal care, and consumer health sectors. It produces HMOs, infant nutrition, probiotics nutraceuticals, and cosmetic products. It develops a fermentation-based technology platform. In addition to its existing technologies, the company has been investing increasingly in R&D for the development of new processes for manufacturing specialty carbohydrates. Its caters to following markets; early life nutrition, dietary supplements, and medical nutrition. As of December 2016, the company had 29 employees.
Elicityl S.A. - Elicityl S.A., founded in 2002, is a biotech company based in Grenoble, France. It is into complex sugar engineering and production of oligosaccharides and polysaccharides. The company caters to various markets including plant health, nutraceuticals, pharmacy, and cosmetics through two offerings, namely, OligoTech and PEL 101GV. The company offers a wide range of complex carbohydrates and glycoproducts under the OligoTech brand, whereas PEL 101GV is a complex sugar extracted from biomass used particularly to enhance plant health. The company employed over nine employees as of 2016.
Jennewein Biotechnologie GmbH - Jennewein Biotechnologie GmbH was incorporated in 2005. It is an industrial biotechnology company and is headquartered in Rheinbreitbach, Germany. The company is engaged in the manufacturing of rare functional sugars for a range of applications including pharmaceutical products, nutritional/food ingredients, cosmetics/personal care, and products for research & development. The product portfolio of the company includes HMOs, monosaccharides, and nucleotide-activated saccharides. It manufactured its first HMO in 2009 and adopted a non-exclusive commercialization strategy development of its business.
Glycom A/S - Glycom A/S, founded in 2005, is a biotech company headquartered in Hørsholm, Denmark. Its founders Nestlé and various individual investors own the company. It manufactures HMOs for therapeutic and technical adult nutrition applications. Along with HMOs, the company also synthesizes various precursors and intermediates including sialic acid and L-fucose required for manufacturing HMOs. The company’s HMO production takes place at its fermentation and purification food-grade facility in Esbjerg having an area of over 1,000 cubic meters. It has a research center in Hørsholm. As of 2017, the company had 75 employees.
Medolac Laboratories - Medolac Laboratories, incorporated in 2009, is a public benefit corporation headquartered in Oregon, U.S. The company focuses on developing technologies to provide the best quality donor breast milk for infants who do not have access to breast milk. It is engaged in the processing of fluid milk, cream, and related products. The company offers two products in its milk bank: co-op donor milk, commercially sterile, ready-to-use milk for infants; and biorepository, which is a library of human milk samples, made available to scientists for research study. The company had 10 employees as of 2017.
ZuChem Inc. - ZuChem, Inc. was founded in 2001 and is headquartered in Illinois, U.S. The company is a manufacturer of complex sugars and glycochemicals for food, fine chemicals, and pharmaceutical intermediates industries. It offers several products including Natural nutritionals, zuCarb Rare and Activated Sugars and Carbohydrates, and services including Bioprocess Development Services. The company offers its rare sugar products under the brand name ZuChem, which is marketed and distributed to various pharmaceutical companies through its partner Austin Chemicals. The company has seven employees working in its manufacturing facility.
Glycosyn LLC - Glycosyn LLC, founded in 2002, is a biotechnology company headquartered in Massachusetts, U.S. The company develops technologies for the large-scale production of HMOs. It synthesizes HMOs using the fermentation of metabolically-engineered bacteria and yeast. In 2007, the company established a research laboratory in Medford, Massachusetts, for the development of products that can eliminate infant diarrhea worldwide. Moreover, the company is involved in the R&D of bioactive glycan structures in human milk, which can help in the prevention of infections, inflammatory diseases, and adiposity. The company, in collaboration with Grameen, manufactures and distributes its products for the prevention and treatment of diarrhea throughout Bangladesh. It is also planning similar partnership agreements in other parts of the world. The company presently has around seven employees.
Supply Side Estimates
Company revenue estimation via referring to annual reports, investor presentations, and Hoover’s.
Segment revenue determination via variable analysis and penetration modeling.
Competitive benchmarking to identify market leaders and their collective revenue shares.
Forecasting via analyzing commercialization rates, pipelines, market initiatives, distribution networks, etc.
Demand side estimates
Identifying parent markets and ancillary markets
Segment penetration analysis to obtain pertinent
Heuristic forecasting with the help of subject matter experts
Forecasting via variable analysis
Understanding market dynamics (in terms of drivers, restraints, & opportunities) in the countries.
Understanding trends & variables in the individual countries & their impact on growth and using analytical tools to provide high-level insights into the market dynamics and the associated growth pattern.
Understanding market estimates and forecasts (with the base year as 2023, historic information from 2018 to 2022, and forecast from 2024 to 2030). Regional estimates & forecasts for each category are available and are summed up to form the global market estimates.
The report provides market value for the base year 2023 and a yearly forecast till 2030 in terms of revenue/volume or both. The market for each of the segment outlooks has been provided on region & country basis for the above-mentioned forecast period.
The key industry dynamics, major technological trends, and application markets are evaluated to understand their impact on the demand for the forecast period. The growth rates were estimated using correlation, regression, and time-series analysis.
We have used the bottom-up approach for market sizing, analyzing key regional markets, dynamics, & trends for various products and end-users. The total market has been estimated by integrating the country markets.
All market estimates and forecasts have been validated through primary interviews with the key industry participants.
Inflation has not been accounted for to estimate and forecast the market.
Numbers may not add up due to rounding off.
Europe consists of EU-8, Central & Eastern Europe, along with the Commonwealth of Independent States (CIS).
Asia Pacific includes South Asia, East Asia, Southeast Asia, and Oceania (Australia & New Zealand).
Latin America includes Central American countries and the South American continent
Middle East includes Western Asia (as assigned by the UN Statistics Division) and the African continent.
GVR strives to procure the latest and unique information for reports directly from industry experts, which gives it a competitive edge. Quality is of utmost importance to us, therefore every year we focus on increasing our experts’ panel. Primary interviews are one of the critical steps in identifying recent market trends and scenarios. This process enables us to justify and validate our market estimates and forecasts to our clients. With more than 8,000 reports in our database, we have connected with some key opinion leaders across various domains, including healthcare, technology, consumer goods, and the chemical sector. Our process starts with identifying the right platform for a particular type of report, i.e., emails, LinkedIn, seminars, or telephonic conversation, as every report is unique and requires a differentiated approach.
We send out questionnaires to different experts from various regions/ countries, which is dependent on the following factors:
Report/Market scope: If the market study is global, we send questionnaires to industry experts across various regions, including North America, Europe, Asia Pacific, Latin America, and MEA.
Market Penetration: If the market is driven by technological advancements, population density, disease prevalence, or other factors, we identify experts and send out questionnaires based on region or country dominance.
The time to start receiving responses from industry experts varies based on how niche or well-penetrated the market is. Our reports include a detailed chapter on the KoL opinion section, which helps our clients understand the perspective of experts already in the market space.
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