Market Measurement Engagement for an Animal Feed Industry Client Helps Identify the Potential Customers
Typically, organizations in the animal feed segment, manufacture food for livestock including cattle, poultry, and other animals primarily from grains, proteins, and vitamins. The animal feed manufacturing segment plays a significant role in the global food and beverage industry, enabling the large-scale economic production of animal proteins across the globe. The population growth is expected […]READ MORE >>
Typically, organizations in the animal feed segment, manufacture food for livestock including cattle, poultry, and other animals primarily from grains, proteins, and vitamins. The animal feed manufacturing segment plays a significant role in the global food and beverage industry, enabling the large-scale economic production of animal proteins across the globe. The population growth is expected to lead to an increase in the demand, as the consumers are demanding more protein-rich food, especially in developing countries.
However, our recent analysis of the global food and beverage industry shows that animal feed manufacturers are facing predicaments in terms of:
- Changing customer preferences: Leading organizations in the animal feed manufacturing are facing the need for offering products that meet the requirements of the target audiences. This is because the customers of today are more informed and can choose from a wide variety of products owing to the advances in technologies.
- Slow product innovation cycles: Innovations greatly influence the global food and beverage industry’s capability to market new products. As a result, it is essential for firms to offer relevant products through R&D, and market products through innovative techniques.
To overcome such predicaments, animal feed manufacturers are leveraging solutions that aid in estimating the market size. Market size engagement assists companies to measure the market size accurately and offers firms with a baseline for marketing activities.
The Business Challenge
- The Client: Animal feed manufacturer
The client, an animal feed manufacturer client, wanted to gain recommendations on defensible and consistent statistics so that they could build marketing programs and decrease the cost of customer acquisition. Additionally, the client was facing predicaments in understanding their potential market size. Consequently, they wanted to leverage Infiniti’s market size engagement to gain a clear view of the total market size and plan their marketing activities consequently.
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To help the client attain a clear view of the current and future market size, Infiniti’s market analysis experts carried out a comprehensive qualitative and quantitative research with leading stakeholders in the food and beverage industry space. The experts also collated information from company presentations, paid industry databases, and industry forums to cater to the requirements of the animal feed manufacturing client.
Solution Benefits and the Business Impact
The animal feed manufacturing client was able to segment the market in terms of the product and geography with the help of Infiniti’s market size solution. Additionally, they identified the potential customers for the company’s products and services. This helped them gain better visibility into the market sector, employee size, and turnover. Furthermore, the client forecasted the growth of the industry by using output estimates and vital macroeconomic indicators.
Awareness and capacity building are key to understand the risks of ‘business as usual’ on food security and to increase demand for animal feed using sustainable sources. Additionally, better collaboration across the value chain is needed – between suppliers and retailers and between different animal feed sources – to ensure that the issue of feed is addressed holistically.