Why is market analysis important to develop businesses?
Success in business starts with understanding the market. Knowledge of buyer requirements, distribution channels and trends in end-markets is key to identify market opportunities. Additional knowledge of the value chain in the country of origin is necessary to take advantage of these opportunities. It is this combination of market analysis and value chain analysis that results in successful business development. And this helps businesses and their support organisations.
What can ProFound do for you?
ProFound conducts market analyses which provide insights into the natural ingredients sector. We deliver complete and up-to-date research, always tailor-made and reader-friendly. Moreover, it is ready-to-use, meaning that we always translate our findings into concrete actions and recommendations.
At ProFound, we expand our knowledge each year through different ways. We analyse data, consult our large network of experts, visit relevant trade fairs, and cooperate with European and international buyers of natural ingredients. All of this helps us understand current needs and requirements of the market and predict future developments.
What market analysis services does ProFound offer?
Through our market analysis services, we support companies and their support organisations on their journey towards successful market entry. Our market analysis services include: market analyses, value chain analyses, market assessments, feasibility studies and market analysis trainings and capacity building.
Market analysis in the natural ingredients sector
Through our market research, we explore the market playing field and potential of products. Our analysis provides insights into market possibilities. We translate these in do’s and don’ts. Our recommendations may focus on product development, certification, selection of market segments and channels, and most effective marketing and promotion efforts. We focus on primary research to ensure that our insights and recommendations are most relevant to your business.
Value chain analysis for natural ingredients
In our value chain analyses, we study a certain product and ingredient from production to market. The aim is to identify bottlenecks and opportunities for different stakeholders through market, company and stakeholder assessments. In our analysis, we give particular attention to the business enabling environment. For example, we verify if companies are supported by the right rules and regulations, incentives and services. Not only do we help identify the issues, we help map the road to successful market entry and change.
Market assessments for natural ingredients
ProFound analyses international markets for both well-known ingredients and new ingredients. For new ingredients, we can conduct a market assessment of the potential of a natural ingredient for the European and American market. We first verify that companies can meet basic requirements for market entry with our Market Potential Tool. We then determine market interest and scan the target market’s legal and buyer requirements.
Feasibility study of a product or project
Through our feasibility studies we evaluate the potential success for a product or a project in a particular market. For businesses, the service can range from identification of the potential at origin or at the market side.
For support organisations, we help find and select companies for specific trade support programmes. One of the ways through which we select companies, is through our sourcing missions. These missions allow for first-hand visits to carry out full audits. After screening suppliers, we may provide additional training and one-on-one assistance to entrepreneurs to guide them through the steps towards export markets.
Market analysis training and capacity building
We organise workshops and trainings addressed to companies and/or their support organisations. These workshop and training activities stand at the core of ProFound’s knowledge transfer and capacity building mission. Our activities aim at sharing and discussing our market analysis insights.
During workshops, we share and discuss results of our market analysis. This provides opportunities for individuals to raise questions, gain additional insights on their specific market and receive tailored advice on their strategies to reach markets. For support organisations we provide specific market analysis trainings as well, to develop their market intelligence capacities.
In addition, ProFound also provides crash course on natural ingredients. The aim is to introduce policy makers and trade promotion agencies to the natural ingredients sector.
Our workshop and training activities can be hold both online and onsite.