About the client:
The client is a global supplier of functional food ingredients. They were assessing the market opportunity for chia seed mucilage, looking to understand the market, potential utilization, side streams and their uses, and manufacturing methods.
Challenge:
In this ongoing Research Support Service License, the client engaged PreScouter to help them understand where growth was occurring, trends, market segmentation, and competitor activity for one of their core products. Necessary data to help execute their strategic decisions was not available from public sources.
Approach:
PreScouter utilized a multifaceted approach to overcome the lack of publicly available information, particularly by leveraging PreScouter’s database of Subject Matter Experts (SMEs). The PreScouter team conducted 14 interviews with SMEs with broad knowledge of their market, business operations, and formulation experience to extract data on market segmentation, trends, and future market opportunities.
PreScouter was able to successfully analyze the activity of competitors by analyzing investor publications, news, patents, publications, partnerships, and acquisitions.
Outcome:
PreScouter presented a final report to the client detailing competitor activity, market segmentation, trends and opportunities, and application growth opportunities for their core product.
Impact of PreScouter’s work:
The analysis provided valuable information to the client team as they looked to understand the strategic threats and opportunities for their core product.
