PUBLISHED DATE : Feb 2019 | Pages : 174
Fill out your details & get your free sample
Natural Dyes Market Size, Share, & Trends Analysis Report by Type (animal-based, mineral-based, and plant-based), End-user (cosmetics, food & beverage, pharmaceutical, textile & leather, and others), and Geography (APAC, Europe, North America, Latin America, and the Middle East & Africa). Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2019–2024.
174 Pages
56 Tables
65 Charts
3 Regions
11 Countries
19 Companies
5 Market Segment
| Report Attribute | Details |
|---|---|
| MARKET SIZE (REVENUE) | USD 5 BILLION (2024) |
| CAGR | 11% (2019-2024) |
| Base Year | 2018 |
| Forecast Year | 2019-2024 |
| Market Segments | Type (animal-based, mineral-based, and plant-based), End-user (cosmetics, food & beverage, pharmaceutical, textile & leather, and others) |
| Geographic Analysis | APAC, Europe, North America, Latin America, and the Middle East & Africa |
| Countries Covered | US, Canada, UK, Germany, France, China, Japan, Brazil, Mexico, UAE, and South Africa |
The global natural dyes market size is expected to reach USD 5 billion, exhibiting a growth rate of 11% during 2019-2024. The rising tide of environment-conscious consumers is one of the major factors augmenting the growth of the global natural dyes market. The increasing of natural colorants in apparel, food, drinks, beauty products, wellness, and medicinal products will boost the adoption of these products in the global market. These colorants are emerging as sustainable raw material and increasingly being adopted by manufacturers in the global market. The rising consumer demand for natural and organic products will drive the requirement of natural ingredients in the market. The increasing demand for natural, organic, and sustainable products will revolutionize the global market over the next few years. The increasing awareness about the adverse effects synthetic dyes will lead to the adoption of natural products in the market. The continual enhancement of technologies and methods will revolutionize the production process and help attract consumers in the global market. The latest methods of manufacturing, the quality, and sourcing of raw materials used in the production of final products have also become a point of focus for both the employers and federal bodies in the market. The drastic shift towards environmentally friendly products coupled with accelerated consumer spending are the primary factors attributing to the growth of the global market. The different application of these colorants includes textiles & leather, food & beverages, cosmetics, pharmaceuticals, and several other applications including plastics, wood, paper & specialty, inks, and pet food in the market. Technological development and improvement of infrastructure will boost the demand for printing ink and drive the growth of the global natural dyes market.
The increasing focus on quality and performance coupled with stringent government environmental regulations regarding pollution will encourage the use of natural ingredients in the global market. The rising awareness about the depletion of natural resources, distortion of ecological imbalance, pollutants resulting in a disturbed environment caused by the over usage of hazardous chemicals and specifically synthetic dyes will enable vendors to launch a more sustainable and safer alternative in the market.
The burst of the internet age and online presence of vendor creating awareness about the different products available will boost revenues in the global natural dyes market. The increasing penetration of wireless broadband internet, strong adoption of smartphones and tablets, and growth in the number of social media users will offer 24/7 access to consumers to reach and choose the right product from a host of different colorants available in the market. Amazon.com, ASDA.com, and Walmart.com are some of the largest vendors in the online retail market for day to day products. The leading vendors are developing interactive websites that help serve end-users that seek convenience and easy accessibility to get these products in the global market. E-retailing of various products, including natural colorants, is gaining popularity because it is a time-saving, hassle-free, and cost-effective process of purchasing products in the market. Also, the players are leveraging digital and social media channels to enhance the customer experience in the global natural dyes market.
Eco-friendly and health benefiting properties of plant-based products gain traction in the global natural dyes market
The global natural dyes market by type is segmented into animal-based, mineral-based, and plant-based. Plant-based segment dominated more than two-thirds of the total market share in 2018, growing at a CAGR of around 12% during the forecast period. The growing evidence against harmful effects and rising concerns toward protection of the environment, the use of synthetic dyes is fueling the growth of this segment in the global market. These colors are obtained from several different parts of the source plants including the wood, stem, bark, roots, flowers, leaves, and fruits. The implementation of stringent regulations by government and environmental regulatory bodies will drive the growth of plant-based dyes in the market. These products are eco-friendly and have health benefiting properties, which is fueling the demand for these colorants in the global natural dyes market.
The animal-based dyes consist of colorant derived primarily from bugs and insects such as cochineal, kermes, and lac and are largely used to impart colors to food, beverages, cosmetic, and pharmaceutical products in the market. The mineral-based products are used in coloring and staining of textiles, particularly used in carpets and rugs, which in turn, contributes to the growing revenues in the global natural dyes market.
The demand for “all natural” beauty and cosmetic products is fueling the growth of the global natural dyes market
The end-user segment in the global natural dyes market is divided into cosmetics, food & beverage, pharmaceutical, textile & leather, and others. Cosmetics is the fastest growing segment in the global market, at a CAGR of around 11% during the forecast period. The rising number of green-minded consumers and the emerging trend of “all natural” products are driving the growth of this segment in the global market. Natural ingredients are raging in the food and beverages industry and gaining acceptance in the cosmetics sectors, thereby, fueling the requirement of these colorants in the market. The cosmetic products employ a wide spectrum of color and shades to promote their products in different regions of the world. The increasing focus on natural ingredients and sustainable production will create lucrative investment opportunities for vendors in the global natural dyes market. Natural colorants include features such as minimal side effects, UV prevention, some anti-aging properties, and compatibility with the largest number of skin types, which will positively impact the development of this segment in the global natural dyes market.
The consumer demand for natural food ingredients is driving the adoption of natural colorants in the food and beverages industry. The use of suitable mordants that improves the fastness properties these products will boost the adoption in the textile and leather industry in the market. The pharmaceutical industry uses this product in tablets and coatings, liquid oral syrup, capsules, ointment, and toothpaste to increase its aesthetic appearance and stability, resulting in higher demand in the global natural dyes market.
The awareness about the holistic quality of products across the US will add revenues to the global natural dyes market
The global natural dyes market by geography is classified into APAC, Europe, North America, Latin America, and MEA. North America occupied the largest market share in 2018, growing at a CAGR of approximately 7% during the forecast period. The rising tide of environment-conscious consumers is leading to the implementation of natural dyes in apparels, food, drinks, beauty products, health & wellness, and medicinal products in the North American market. The increasing focus on the procurement of sustainable raw materials will fuel the growth of the North American market. The increasing number of consumers for premium for natural and organic products will help North America maintain its global natural dyes market share over the next few years. The increasing competition in the market is propelling vendors to continually introduce new extraction and dyeing techniques using their products, which employ advanced technology and are more efficient than their predecessor.
The retail demand of the premium-priced “all natural” products as a price reduction of premium products is levied in European countries will fuel the growth of the global market. The rise inadvanced technological developments and the increase of new and domestic manufacturers selling products in online stores across APAC will contribute to the revenues in the global natural dyes market.
The global natural dyes market competition is driven by market conditions, technological innovations, and industry development. The leading vendors are focusing on the development and commercialization of robotic technology to sustain the competition in the market. The top players are boosting their profitability by practicing efficient production techniques that minimize production costs and mitigate associated risks in the market. The increase in product/color extensions, innovations, and M&A activities will intensify the competition in the global natural dyes market.
The major vendors in the global market are:
Market Segmentation by Type
Market Segmentation by End-users
Market Segmentation by Geography
Frequently Asked Questions
What is the global natural dyes market size and CAGR for 2019-202?
The global natural dyes market size is expected to generate revenues of around $5 billion by 2024, growing at an impressive CAGR of approximately 11% during 2018–2024.
What is the market size of the plant-based natural dyes and its share?
The plant-based segment dominated more than two-thirds of the total market share in 2018, growing at a CAGR of around 12% during the forecast period
What are the different segments covered in this research report?
Type (animal-based, mineral-based, and plant-based), End-user (cosmetics, food & beverage, pharmaceutical, textile & leather, and others)
Who are the leading manufacturers of natural dyes, globally?
A few major vendors in the global market are: Abbey Color, AMA Herbal Laboratories, Aura Herbal Textiles, Maiwa, Pylam Products Company, Sun Food Tech, GNT, Stony Creek Colors, NIG Food Engineering, Couleurs de Plantes, Aurora Silk, Earthues, Wild Colours, Renaissance Dyeing, Ashford Handicrafts, Sam vegetable Colours, Green matter Natural Dye, Shiva Exim, and Biodye
The global natural dyes market is driven by the innovations in treatment plants and systems. The improvement in living standards and an increase in per capita disposable income will propel the demand for natural colorants in the global market. The market research report provides in-depth market analysis and segmental analysis of the global natural dyes market by type, end-users, and geography.
Base Year: 2018
Forecast Year: 2019-2024
The report considers the present scenario of the global natural dyes market and its market dynamics for the period 2018−2024. It covers a detailed overview of various market growth enablers, restraints, and trends. The study covers both the demand and production sides of the market. It also profiles and analyzes prominent companies operating in the market.
Major Vendors in the Global Natural Dyes Market
Market Segmentation by Type
Market Segmentation by End-users
Market Segmentation by Geography
1 Research Methodology
2 Research Objectives
3 Research Process
4 Report Coverage
4.1 Market Definition
4.2 Base Year
4.3 Scope of Study
4.3.1 Market Segmentation by Product Types (Extraction)
4.3.2 Market Segmentation by End-users
4.3.3 Market Segmentation by Geography
5 Report Assumptions & Caveats
5.1 Key Caveats
5.2 Inclusions
5.3 Exclusions
5.4 Currency Conversion
5.5 Market Derivation
6 Market at a Glance
7 Introduction
7.1 Overview
7.2 Economic Factors Aiding Market Growth
8 Market Dynamics
8.1 Market Growth Enablers
8.1.1 Growing Number of Environment-conscious Consumers
8.1.2 Improving Standards of Living and Increasing Urbanization
8.1.3 Growing End-user Industries
8.1.4 YOY Impact of Market Growth Enablers
8.1.5 YOY Impact of Market Growth Enablers on Regions
8.2 Market Growth Restraints
8.2.1 High Competition from Synthetic Dyes
8.2.2 Lack of Wastewater Treatment Practices
8.2.3 High Cost yet Low Color Effectiveness
8.2.4 YOY Impact of Market Growth Restraints
8.2.5 YOY Impact of Market Growth Restraints on Regions
8.3 Market Opportunities & Trends
8.3.1 Innovations in Dyeing Technology
8.3.2 Increased Awareness about Natural Dyes through Internet
8.3.3 YOY Impact of Market Opportunities & Trends
8.3.4 YOY Impact of Market Opportunities & Trends on Regions
9 Global Natural Dyes Market
9.1 Market Overview
9.2 Synthetic Dyes and their Consumption Share
9.3 Porter’s Five Forces Analysis
9.3.1 Threat of New Entrants
9.3.2 Bargaining Power of Suppliers
9.3.3 Bargaining Power of Buyers
9.3.4 Threat of Substitutes
9.3.5 Competitive Rivalry
10 By Product Type
10.1 Market Overview
10.1.1 Global Natural Dyes Market by Product Type
10.2 Plant-based Dyes
10.2.1 Market Size & Forecast
10.2.2 Market by Geography
10.3 Animal-Based Dyes
10.3.1 Market Size & Forecast
10.3.2 Market by Geography
10.4 Mineral-Based Dyes
10.4.1 Market Size & Forecast
10.4.2 Market by Geography
11 By End-Users
11.1 Market Overview
11.1.1 Global Natural Dyes Market by End-users
11.2 Food & Beverage
11.2.1 Market Size & Forecast
11.2.2 Market by Geography
11.3 Textile & Leather
11.3.1 Market Size & Forecast
11.3.2 Market by Geography
11.4 Pharmaceutical
11.4.1 Market Size & Forecast
11.4.2 Market by Geography
11.5 Cosmetics
11.5.1 Market Size & Forecast
11.5.2 Market by Geography
11.6 Others
11.6.1 Market Size & Forecast
11.6.2 Market by Geography
12 By Geography
12.1 Geographical Overview
13 North America
13.1 Market Size & Forecast
13.2 Segmentation by Product Type
13.2.1 Market Size and Forecast
13.3 Segmentation by End-users
13.3.1 Market Size and Forecast
13.4 Key Countries
13.4.1 US: Market Size & Forecast
13.4.2 Canada: Market Size & Forecast
14 Europe
14.1 Market Size & Forecast
14.2 Segmentation by Product Type
14.2.1 Market Size and Forecast
14.3 Segmentation by End-user
14.3.1 Market Size and Forecast
14.4 Key Countries
14.4.1 UK: Market Size & Forecast
14.4.2 Germany: Market Size & Forecast
14.4.3 France: Market Size & Forecast
15 APAC
15.1 Market Size & Forecast
15.2 Segmentation by Product Type
15.2.1 Market Size and Forecast
15.3 Segmentation by End-users
15.3.1 Market Size and Forecast
15.4 Key Countries
15.4.1 China: Market Size & Forecast
15.4.2 Japan: Market Size & Forecast
16 Latin America
16.1 Market Size & Forecast
16.2 Segmentation by Product Type
16.2.1 Market Size and Forecast
16.3 Segmentation by End-users
16.3.1 Market Size and Forecast
16.4 Key Countries
16.4.1 Brazil: Market Size & Forecast
16.4.2 Mexico: Market Size & Forecast
17 Middle-East & Africa
17.1 Market Size & Forecast
17.2 Segmentation by Product Type
17.2.1 Market Size and Forecast
17.3 Segmentation by End-users
17.3.1 Market Size and Forecast
17.4 Key Countries
17.4.1 UAE: Market Size & Forecast
17.4.2 South Africa: Market Size & Forecast
18 Competitive Landscape
18.1 Market Overview
18.1.1 Herfindahl-Hirschman Index
18.1.2 Market Development
19 Prominent Vendors
19.1 Abbey Color
19.1.1 Business Overview
19.1.2 Product Offerings:
19.2 AMA Herbal Laboratories
19.2.1 Business Overview
19.2.2 Product Offerings:
19.3 Aura Herbal Textiles
19.3.1 Business Overview
19.3.2 Product Offerings:
19.4 Maiwa
19.4.1 Business Overview
19.4.2 Product Offerings:
19.5 Pylam Products Company
19.5.1 Business Overview
19.5.2 Product Offerings:
19.6 Sun Food Tech
19.6.1 Business Overview
19.6.2 Product Offerings
19.7 GNT
19.7.1 Business Overview
19.7.2 Product Offerings:
19.8 Stony Creek Colors
19.8.1 Business Overview
19.8.2 Product Offerings
19.9 NIG Food Engineering
19.9.1 Business Overview
19.9.2 Product Offerings
19.10 Couleurs de Plantes
19.10.1 Business Overview
19.10.2 Product Offerings
19.11 Aurora Silk
19.11.1 Business Overview
19.11.2 Product Offerings
19.12 Earthues
19.12.1 Business Overview
19.12.2 Product Offerings
19.13 Wild Colours
19.13.1 Business Overview
19.13.2 Product Offerings
19.14 Renaissance Dyeing
19.14.1 Business Overview
19.14.2 Product Offerings
19.15 Ashford Handicrafts
19.15.1 Business Overview
19.15.2 Product Offerings
19.16 Sam vegetable Colours Pvt. Ltd
19.16.1 Business Overview
19.16.2 Product Offerings
19.17 Green matter Natural Dye
19.17.1 Business Overview
19.17.2 Product Offerings
19.18 Shiva Exim
19.18.1 Business Overview
19.18.2 Product Offerings
19.19 Biodye
19.19.1 Business Overview
19.19.2 Product Offerings
20 Report Summary
20.1 Key Takeaways
20.2 Qualitative Summary
20.3 Quantitative Summary
20.3.1 Market by Geography
20.3.2 Market by Product
20.3.3 Market by End-users
21 Appendix
21.1 Abbreviations
List of Exhibits
Exhibit 1 Segmentation of Natural Dyes Market
Exhibit 2 Market Size Calculation Approach 2018
Exhibit 3 Overview of Natural Dyes Market
Exhibit 4 Overview of Natural Dyes End-user by Industry
Exhibit 5 Overview of the Global Economy
Exhibit 6 Major Economic Factors Favoring the Retail Landscape
Exhibit 7 Textile and Apparel Industries Overview 2017−2022 ($ billion)
Exhibit 8 Major Constraints to Widespread Use of Natural Dyes
Exhibit 9 Global Natural Dyes Market 2018–2024
Exhibit 10 Global Natural Dyes Market 2018−2024 ($ billion)
Exhibit 11 Global Consumption of Synthetic Dyes 2018
Exhibit 12 Five Forces Analysis 2018
Exhibit 13 Market by Product Type 2018−2024 ($ billion)
Exhibit 14 Market by Product Types
Exhibit 15 Market by Product Type 2018 & 2024 (revenue share %)
Exhibit 16 Global Plant-based Dyes Market 2018–2024 ($ billion)
Exhibit 17 Plant-based Dyes: Market Lucrativeness 2024
Exhibit 18 Global Animal-based Dyes Market 2018–2024 ($ billion)
Exhibit 19 Animal-based Dyes: Market Lucrativeness 2024
Exhibit 20 Global Mineral-based Dyes Market 2018–2024 ($ billion)
Exhibit 21 Mineral-based Dyes: Market Lucrativeness 2024
Exhibit 22 Global Natural Dyes Market by End-users 2018−2024 ($ billion)
Exhibit 23 Market by End-users
Exhibit 24 Market by End-users 2018 & 2024 (revenue share %)
Exhibit 25 Global Food & Beverage Dyes Market 2018–2024 ($ billion)
Exhibit 26 Major Restraints to Use of Natural Food Dyes
Exhibit 27 Natural Dyes for Food & Beverage Sector: Market Lucrativeness 2024
Exhibit 28 Global Textile & Leather Dye Market 2018–2024 ($ billion)
Exhibit 29 Natural Dyes for Textile & Leather: Market Lucrativeness 2024
Exhibit 30 Global Pharmaceutical Dyes Market 2018–2024 ($ billion)
Exhibit 31 Natural Dyes for Pharmaceutical: Market Lucrativeness 2024
Exhibit 32 Global Cosmetics Dyes Market 2018–2024 ($ billion)
Exhibit 33 Natural Dye for Cosmetics: Market Lucrativeness 2024
Exhibit 34 Global Other Dyes Market 2018–2024 ($ billion)
Exhibit 35 Other Natural Dyes: Market Lucrativeness 2024
Exhibit 36 Global Natural Dyes Market by Geography 2018 & 2024 ($ billion)
Exhibit 37 Market by Geography (2018)
Exhibit 38 Geographical Overview of Global Natural Dyes Market 2024
Exhibit 39 Market in North America 2018–2024 ($ billion)
Exhibit 40 Annual Saving Ratio of US (%)
Exhibit 41 Market in North America by Key Countries 2018 & 2024 ($ billion)
Exhibit 42 Market in US 2018–2024 ($ billion)
Exhibit 43 US GDP Growth 2010 − Q3 2018 (%)
Exhibit 44 US: Growth Potential for Natural Dyes in the Beverage Industry
Exhibit 45 Market in Canada 2018–2024 ($ billion)
Exhibit 46 Market in Europe 2018–2024 ($billion)
Exhibit 47 Overview of Favorable Economic Indicators
Exhibit 48 Market in Europe by Key Countries 2018 & 2024 ($ billion)
Exhibit 49 Market in UK 2018–2024 ($ billion)
Exhibit 50 Market in Germany 2018–2024 ($ billion)
Exhibit 51 German Consumers and their Acceptance of Natural Products
Exhibit 52 Market in France 2018–2024 ($ billion)
Exhibit 53 Market in APAC 2018–2024 ($ billion)
Exhibit 54 Market in APAC by Key Countries 2018 & 2024 ($ billion)
Exhibit 55 Market in China 2018–2024 ($ billion)
Exhibit 56 Market in Japan 2018–2024 ($ billion)
Exhibit 57 Market in Latin America 2018–2024 ($ billion)
Exhibit 58 Market in Latin America by Key Countries 2018 & 2024 ($ billion)
Exhibit 59 Market in Brazil 2018–2024 ($ billion)
Exhibit 60 Market in Mexico 2018–2024 ($ billion)
Exhibit 61 Market in MEA 2018–2024 ($billion)
Exhibit 62 Market in MEA by Key Countries 2018 & 2024 ($ billion)
Exhibit 63 Market in UAE 2018–2024 ($ billion)
Exhibit 64 Market in South Africa 2018–2024 ($ billion)
Exhibit 65 Overview of Market Concentration in Geographies 2018 (HHI)
List of Tables
Table 1 Key Geographies Definition
Table 2 Key Caveats
Table 3 Currency Conversion 2013−2018
Table 4 YOY Impact of Market Growth Enablers 2018−2024
Table 5 YOY Impact of Market Growth Enablers on Regions 2018
Table 6 Cost Comparison of Synthetic and Natural Dyes (Medium Shade)
Table 7 YOY Impact of Market Growth Restraints 2018−2024
Table 8 YOY Impact of Market Growth Restraints on Regions 2018
Table 9 YOY Impact of Market Opportunities & Trends 2018−2024
Table 10 YOY Impact of Market Opportunities & Trends on Regions 2018
Table 11 Global Market by Product Type 2018−2024 ($ billion)
Table 12 Major Plant-based Dyes
Table 13 Global Plant-based Dyes Market by Geography 2018−2024 ($ billion)
Table 14 Global Animal-based Dyes Market by Geography 2018−2024 ($ billion)
Table 15 Major Mineral-based Dyes and Colors
Table 16 Global Mineral-based Dyes Market by Geography 2018−2024 ($ billion)
Table 17 Global Natural Dyes Market by End-users 2018−2024 ($ billion)
Table 18 Global Food & Beverage Dyes Market by Geography 2018−2024 ($ billion)
Table 19 Select Plants Used for Natural Dyes in Textile Coloring
Table 20 Global Textile & Leather Dyes Market by Geography 2018−2024 ($ billion)
Table 21 Medicinal Properties of Select Plant-based Dyestuff
Table 22 Global Pharmaceutical Dye Market by Geography 2018−2024 ($ billion)
Table 23 Global Cosmetics Dye Market by Geography 2018−2024 ($ billion)
Table 24 Global Other Dyes Market by Geography 2018−2024 ($ billion)
Table 25 Major Native American Dyestuff Plants and their Dye Colors
Table 26 North America Market by Product Type 2018−2024 ($ billion)
Table 27 North America Market by End-users 2018−2024 ($ billion)
Table 28 Europe Market by Product Type 2018−2024 ($ billion)
Table 29 Europe Market by End-user 2018−2024 ($ billion)
Table 30 APAC Market by Product Type 2018−2024 ($ billion)
Table 31 APAC Market by End-users 2018−2024 ($ billion)
Table 32 Latin America Market by Product Type 2018−2024 ($ billion)
Table 33 Latin America Market by End-users 2018−2024 ($ billion)
Table 34 MEA Market by Product Type 2018−2024 ($ billion)
Table 35 MEA Market by End-users 2018−2024 ($ billion)
Table 36 Qualitative Summary of Global Natural Market
Table 37 Quantitative Summary of Global Natural Dyes Market 2018–2024 ($ billion)
Table 38 North America: Natural Dyes Market by Type 2018–2024 ($ billion)
Table 39 North America: Natural Dyes Market by End-users 2018–2024 ($ billion)
Table 40 Europe: Natural Dyes Market by Type 2018–2024 ($ billion)
Table 41 Europe: Market by End-users 2018–2024 ($ billion)
Table 42 APAC: Market by Type 2018–2024 ($ billion)
Table 43 APAC: Market by End-users 2018–2024 ($ billion)
Table 44 Latin America: Market by Type 2018–2024 ($ billion)
Table 45 Latin America: Market by End-users 2018–2024 ($ billion)
Table 46 MEA: Market by Type 2018–2024 ($ billion)
Table 47 MEA: Market by End-user 2018–2024 ($ billion)
Table 48 Global Market by Product Types 2018–2024 ($ billion)
Table 49 Plant-based Natural Dyes Market by Geography 2018–2024 ($ billion)
Table 50 Animal-based Natural Dyes Market by Geography 2018–2024 ($ billion)
Table 51 Mineral-based Natural Dyes Market by Geography 2018–2024 ($ billion)
Table 52 Global Natural Dyes Market by End-users 2018–2024 ($ billion)
Table 53 Food & Beverages Natural Dyes Market by Geography 2018–2024 ($ billion)
Table 54 Textile & Leather Natural Dyes Market by Geography 2018–2024 ($ billion)
Table 55 Pharmaceutical Natural Dyes Market by Geography 2018–2024 ($ billion)
Table 56 Cosmetics Natural Dyes Market by Geography 2018–2024 ($ billion)
Single User Licence
5 User Licence
Corporate Licence
Datasheet Licence
"The report by Arizton was spot on. It not only gave us insight into the pro audio market, we used it to raise funds for our company. The data proved (to the VC we pitched to) that the market was large enough for our company to not only survive but also grow."
