Aerosol Deodorant Market Growth Report 2021-2031
The Aerosol Deodorant Market is expected to register a CAGR of 6.8% from 2023 to 2031, with a market size expanding from US$ XX million in 2023 to US$ XX Million by 2031.
The Aerosol Deodorant Market report covers segmental analysis By Category (Men, Women, Unisex) and Distribution Channel (Supermarkets and Hypermarkets, Convenience stores, Online Retail, Others). The global analysis is further broken-down at the regional level and major countries. The Report Offers the Value in US$ for the above analysis and segments.
Purpose of the ReportThe report Aerosol Deodorant Market by The Insight Partners aims to describe the present landscape and future growth, top driving factors, challenges, and opportunities. This will provide insights to various business stakeholders, such as:
- Technology Providers/Manufacturers: To understand the evolving market dynamics and know the potential growth opportunities, enabling them to make informed strategic decisions.
- Investors: To conduct a comprehensive trend analysis regarding the market growth rate, market financial projections, and opportunities that exist across the value chain.
- Regulatory bodies: To regulate policies and police activities in the market with the aim of minimizing abuse, preserving investor trust and confidence, and upholding the integrity and stability of the market.
Aerosol Deodorant Market Segmentation
Category- Men
- Women
- Unisex
- Supermarkets and Hypermarkets
- Convenience stores
- Online Retail
- Others
Strategic Insights
Aerosol Deodorant Market Growth Drivers- Rising Consumer Awareness Drives Aerosol Deodorant Market Growth: Rising consumer awareness and grooming act as forces for the growth of the Aant Market. With growing hygiene and grooming, the demand for personal care products such as deodorant has spiked up significantly. Convenient deodorant options compel manufacturers to expand their production line and shape the product line as per consumer preferences. The increase in demand for deodorant has been paving the way for the growth of the Aerosol Deodorant Market.
- Health Consciousness Influences Consumer Preferences for Personal Care Products: Some of the reports present the shifts occurring in the buying behavior of consumers in the personal care products market. To be specific, their health consciousness is driving the growth of products such as leech extract serum, anti-cellulite creams, socks for blood circulation, deodorants, essential oils, etc. Buying habits such as online and in-store purchasing are deeply influenced by these factors.
- Innovative Formulations and Packaging Enhance Market Growth: Gradual changes on various fronts such as aerosol formulations and packaging have helped in propelling the Aerosol Deodorant Market. With a rising focus on creating innovative consumer experiences combined with skin safety standards, brands are coming up with novel solutions to enhance their market offerings. Moreover, meliorated product functionality has also resulted in value-added options for end-users. These continuous market improvements have catalyzed product innovations and have steered the market towards high-growth avenues. Furthermore, consumers’ demand changes have also been noted with an inclination towards novel and user-friendly deodorant solutions.
- Innovative Formulations and Packaging Enhance Market Growth: Lifestyle diversification and rapid urbanization have become the key factors to shape the Aerosol Deodorant Market. Accelerating rural-urban migration and the outbreak of hectic lifestyles raise the demand for personal care products. Long work hours and environmental stressors trigger the actual need. Meanwhile, people shift to comfort, so that the market offers more possibilities in convenience and effectiveness. The Aerosol Deodorant Market report presents the new forces arising from urban lifestyles.
- Urbanization and Changing Lifestyles Fuel Demand for Personal Care Products: Aerosol Deodorant Market is also reported to experience a shift towards green formulations with a greater incorporation of eco-friendly ingredients and recyclable packagings as a growing number of consumers favour such products in connection with the improved awareness about the environmental hazards and for safer outcomes.Due to this growing trend, the market is witnessing product formulation innovations to meet this demand, ultimately leading to the perfection of product portfolios as they adapt to add such green alternatives in their products. Besides the obvious benefits of job creation and wider trade this development holds, the Aerosol Deodorant Market also undergoes some level of expansion.
- Green Formulations and Eco-Friendly Packaging Gain Popularity: As the increasing trend for men to partake in male grooming habits deodorant market segment in more demand. The major impact is driven from changing social standards and increasing male hygiene awareness. Hence, manufacturers are launching several scents and formulations catering to the male sector. This trend reflects the major industry shift to look for a larger portion of the market share. As an example, emergence of more aerosol deodorants segment for males are witnessing the market growth.
- Increasing Male Grooming Habits Drive Demand for Men's Aerosol Deodorants: The trend for innovative aerosol packaging designs is expected to contribute significantly to aerosol deodorant market share, as brands strive to find user-friendly and visually attractive form factors. In turn, this will improve consumer experience and contribute to brand distinction. Much of the innovation in aerosol packaging for deodorants will likely come from technology that results in better and more sustainable packaging.
- Health-Conscious Consumers Demand Natural, Dermatologically Tested Ingredients: Consumers are more and more health and wellness-minded and the demand for new ingredients, free from chemical compounds is higher than ever. Companies can take advantage and prepare products based on natural ingredients that are skin health-improved and dermatologically tested. The range of the health-promoting products can be part of the Aerosol Deodorant Market strategies, by applying the insights presented in this Aerosol Deodorant Market report. It is predicted for an enormous amount of growth in the Aerosol Deodorant Market shortly, thanks to the consumer awareness of demands for safer products than ever before.
- Targeting Niche Markets for Male Consumers Offers Growth Opportunities: Consequently, amid this budding zeal for personal hygiene among men, the aerosol deodorant market offers a specific opportunity to carve out distinct niche markets and target products to male consumers. Marketers can bank on scent, and long-lasting freshness, and sometimes proprietary forms about gender conformity are shifting, and demand for products will likely grow. To meet this demand and strengthen their brand allegiances among consumers, prudent aerosol-deodorant marketers will explicitly commit to a unisex or specifically masculine identity.
- Emerging Markets Provide Revenue Generation Potential for Companies: That is why, any company operating in the global aerosol deodorant market should focus on emerging markets as an opportunity for revenue generation in the coming years. Due to fast-paced urbanization, disposable incomes are personal care products, a category where aerosol of growth. By harnessing this market- and product costs and product mixes, companies can local markets. From here the market will expand. Companies can now get and demand deodorant market for further strategic planning
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Aerosol Deodorant Market, providing a holistic landscape.
- Expert Analysis: The report is compiled based on the in-depth understanding of industry experts and analysts.
- Up-to-date Information: The report assures business relevance due to its coverage of recent information and data trends.
- Customization Options: This report can be customized to cater to specific client requirements and suit the business strategies aptly.
The research report on the Aerosol Deodorant Market can, therefore, help spearhead the trail of decoding and understanding the industry scenario and growth prospects. Although there can be a few valid concerns, the overall benefits of this report tend to outweigh the disadvantages.
REGIONAL FRAMEWORK
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- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
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to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
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to country scope.
Frequently Asked Questions
Some of the customization options available based on request are additional 3-5 company profiles and country-specific analysis of 3-5 countries of your choice. Customizations are to be requested/discussed before making final order confirmation, as our team would review the same and check the feasibility.
The report can be delivered in PDF/PPT format; we can also share excel dataset based on the request.
Key companies of this market are: Unilever, L Or al Paris, Beiersdorf AG, Colgate Palmolive Company, Victoria s Secret, Christian Dior SE, Marks and Spencer plc, Godrej Group, CavinKare Group.
Key future trends in this market are - Increase in personal care demand, Growth in eco-friendly products, Rise in convenience packaging
The Aerosol Deodorant Market is expected to register a CAGR of 8.8% from 2023-2031.
The major factors impacting the Aerosol Deodorant Market are: Growing Awareness of Personal Hygiene, Innovative Product Developments, and Rising Urbanization and Lifestyle Changes
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Aerosol Deodorant Market - By Category
1.3.2 Aerosol Deodorant Market - By Distribution Channel
1.3.3 Aerosol Deodorant Market - By Region
1.3.3.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. AEROSOL DEODORANT MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PEST ANALYSIS
4.2.1 North America - Pest Analysis
4.2.2 Europe - Pest Analysis
4.2.3 Asia-Pacific - Pest Analysis
4.2.4 Middle East and Africa - Pest Analysis
4.2.5 South and Central America - Pest Analysis
4.3. EXPERT OPINIONS
5. AEROSOL DEODORANT MARKET - KEY MARKET DYNAMICS
5.1. KEY MARKET DRIVERS
5.2. KEY MARKET RESTRAINTS
5.3. KEY MARKET OPPORTUNITIES
5.4. FUTURE TRENDS
5.5. IMPACT ANALYSIS OF DRIVERS AND RESTRAINTS
6. AEROSOL DEODORANT MARKET - GLOBAL MARKET ANALYSIS
6.1. AEROSOL DEODORANT - GLOBAL MARKET OVERVIEW
6.2. AEROSOL DEODORANT - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING
7. AEROSOL DEODORANT MARKET - REVENUE AND FORECASTS TO 2028 - CATEGORY
7.1. OVERVIEW
7.2. CATEGORY MARKET FORECASTS AND ANALYSIS
7.3. MEN
7.3.1. Overview
7.3.2. Men Market Forecast and Analysis
7.4. WOMEN
7.4.1. Overview
7.4.2. Women Market Forecast and Analysis
7.5. UNISEX
7.5.1. Overview
7.5.2. Unisex Market Forecast and Analysis
8. AEROSOL DEODORANT MARKET - REVENUE AND FORECASTS TO 2028 - DISTRIBUTION CHANNEL
8.1. OVERVIEW
8.2. DISTRIBUTION CHANNEL MARKET FORECASTS AND ANALYSIS
8.3. SUPERMARKETS AND HYPERMARKETS
8.3.1. Overview
8.3.2. Supermarkets and Hypermarkets Market Forecast and Analysis
8.4. CONVENIENCE STORES
8.4.1. Overview
8.4.2. convenience stores Market Forecast and Analysis
8.5. ONLINE RETAIL
8.5.1. Overview
8.5.2. Online Retail Market Forecast and Analysis
8.6. OTHERS
8.6.1. Overview
8.6.2. Others Market Forecast and Analysis
9. AEROSOL DEODORANT MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
9.1. NORTH AMERICA
9.1.1 North America Aerosol Deodorant Market Overview
9.1.2 North America Aerosol Deodorant Market Forecasts and Analysis
9.1.3 North America Aerosol Deodorant Market Forecasts and Analysis - By Category
9.1.4 North America Aerosol Deodorant Market Forecasts and Analysis - By Distribution Channel
9.1.5 North America Aerosol Deodorant Market Forecasts and Analysis - By Countries
9.1.5.1 United States Aerosol Deodorant Market
9.1.5.1.1 United States Aerosol Deodorant Market by Category
9.1.5.1.2 United States Aerosol Deodorant Market by Distribution Channel
9.1.5.2 Canada Aerosol Deodorant Market
9.1.5.2.1 Canada Aerosol Deodorant Market by Category
9.1.5.2.2 Canada Aerosol Deodorant Market by Distribution Channel
9.1.5.3 Mexico Aerosol Deodorant Market
9.1.5.3.1 Mexico Aerosol Deodorant Market by Category
9.1.5.3.2 Mexico Aerosol Deodorant Market by Distribution Channel
9.2. EUROPE
9.2.1 Europe Aerosol Deodorant Market Overview
9.2.2 Europe Aerosol Deodorant Market Forecasts and Analysis
9.2.3 Europe Aerosol Deodorant Market Forecasts and Analysis - By Category
9.2.4 Europe Aerosol Deodorant Market Forecasts and Analysis - By Distribution Channel
9.2.5 Europe Aerosol Deodorant Market Forecasts and Analysis - By Countries
9.2.5.1 Germany Aerosol Deodorant Market
9.2.5.1.1 Germany Aerosol Deodorant Market by Category
9.2.5.1.2 Germany Aerosol Deodorant Market by Distribution Channel
9.2.5.2 France Aerosol Deodorant Market
9.2.5.2.1 France Aerosol Deodorant Market by Category
9.2.5.2.2 France Aerosol Deodorant Market by Distribution Channel
9.2.5.3 Italy Aerosol Deodorant Market
9.2.5.3.1 Italy Aerosol Deodorant Market by Category
9.2.5.3.2 Italy Aerosol Deodorant Market by Distribution Channel
9.2.5.4 United Kingdom Aerosol Deodorant Market
9.2.5.4.1 United Kingdom Aerosol Deodorant Market by Category
9.2.5.4.2 United Kingdom Aerosol Deodorant Market by Distribution Channel
9.2.5.5 Russia Aerosol Deodorant Market
9.2.5.5.1 Russia Aerosol Deodorant Market by Category
9.2.5.5.2 Russia Aerosol Deodorant Market by Distribution Channel
9.2.5.6 Rest of Europe Aerosol Deodorant Market
9.2.5.6.1 Rest of Europe Aerosol Deodorant Market by Category
9.2.5.6.2 Rest of Europe Aerosol Deodorant Market by Distribution Channel
9.3. ASIA-PACIFIC
9.3.1 Asia-Pacific Aerosol Deodorant Market Overview
9.3.2 Asia-Pacific Aerosol Deodorant Market Forecasts and Analysis
9.3.3 Asia-Pacific Aerosol Deodorant Market Forecasts and Analysis - By Category
9.3.4 Asia-Pacific Aerosol Deodorant Market Forecasts and Analysis - By Distribution Channel
9.3.5 Asia-Pacific Aerosol Deodorant Market Forecasts and Analysis - By Countries
9.3.5.1 Australia Aerosol Deodorant Market
9.3.5.1.1 Australia Aerosol Deodorant Market by Category
9.3.5.1.2 Australia Aerosol Deodorant Market by Distribution Channel
9.3.5.2 China Aerosol Deodorant Market
9.3.5.2.1 China Aerosol Deodorant Market by Category
9.3.5.2.2 China Aerosol Deodorant Market by Distribution Channel
9.3.5.3 India Aerosol Deodorant Market
9.3.5.3.1 India Aerosol Deodorant Market by Category
9.3.5.3.2 India Aerosol Deodorant Market by Distribution Channel
9.3.5.4 Japan Aerosol Deodorant Market
9.3.5.4.1 Japan Aerosol Deodorant Market by Category
9.3.5.4.2 Japan Aerosol Deodorant Market by Distribution Channel
9.3.5.5 South Korea Aerosol Deodorant Market
9.3.5.5.1 South Korea Aerosol Deodorant Market by Category
9.3.5.5.2 South Korea Aerosol Deodorant Market by Distribution Channel
9.3.5.6 Rest of Asia-Pacific Aerosol Deodorant Market
9.3.5.6.1 Rest of Asia-Pacific Aerosol Deodorant Market by Category
9.3.5.6.2 Rest of Asia-Pacific Aerosol Deodorant Market by Distribution Channel
9.4. MIDDLE EAST AND AFRICA
9.4.1 Middle East and Africa Aerosol Deodorant Market Overview
9.4.2 Middle East and Africa Aerosol Deodorant Market Forecasts and Analysis
9.4.3 Middle East and Africa Aerosol Deodorant Market Forecasts and Analysis - By Category
9.4.4 Middle East and Africa Aerosol Deodorant Market Forecasts and Analysis - By Distribution Channel
9.4.5 Middle East and Africa Aerosol Deodorant Market Forecasts and Analysis - By Countries
9.4.5.1 South Africa Aerosol Deodorant Market
9.4.5.1.1 South Africa Aerosol Deodorant Market by Category
9.4.5.1.2 South Africa Aerosol Deodorant Market by Distribution Channel
9.4.5.2 Saudi Arabia Aerosol Deodorant Market
9.4.5.2.1 Saudi Arabia Aerosol Deodorant Market by Category
9.4.5.2.2 Saudi Arabia Aerosol Deodorant Market by Distribution Channel
9.4.5.3 U.A.E Aerosol Deodorant Market
9.4.5.3.1 U.A.E Aerosol Deodorant Market by Category
9.4.5.3.2 U.A.E Aerosol Deodorant Market by Distribution Channel
9.4.5.4 Rest of Middle East and Africa Aerosol Deodorant Market
9.4.5.4.1 Rest of Middle East and Africa Aerosol Deodorant Market by Category
9.4.5.4.2 Rest of Middle East and Africa Aerosol Deodorant Market by Distribution Channel
9.5. SOUTH AND CENTRAL AMERICA
9.5.1 South and Central America Aerosol Deodorant Market Overview
9.5.2 South and Central America Aerosol Deodorant Market Forecasts and Analysis
9.5.3 South and Central America Aerosol Deodorant Market Forecasts and Analysis - By Category
9.5.4 South and Central America Aerosol Deodorant Market Forecasts and Analysis - By Distribution Channel
9.5.5 South and Central America Aerosol Deodorant Market Forecasts and Analysis - By Countries
9.5.5.1 Brazil Aerosol Deodorant Market
9.5.5.1.1 Brazil Aerosol Deodorant Market by Category
9.5.5.1.2 Brazil Aerosol Deodorant Market by Distribution Channel
9.5.5.2 Argentina Aerosol Deodorant Market
9.5.5.2.1 Argentina Aerosol Deodorant Market by Category
9.5.5.2.2 Argentina Aerosol Deodorant Market by Distribution Channel
9.5.5.3 Rest of South and Central America Aerosol Deodorant Market
9.5.5.3.1 Rest of South and Central America Aerosol Deodorant Market by Category
9.5.5.3.2 Rest of South and Central America Aerosol Deodorant Market by Distribution Channel
10. INDUSTRY LANDSCAPE
10.1. MERGERS AND ACQUISITIONS
10.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
10.3. NEW PRODUCT LAUNCHES
10.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
11. AEROSOL DEODORANT MARKET, KEY COMPANY PROFILES
11.1. UNILEVER
11.1.1. Key Facts
11.1.2. Business Description
11.1.3. Products and Services
11.1.4. Financial Overview
11.1.5. SWOT Analysis
11.1.6. Key Developments
11.2. L'ORéAL PARIS
11.2.1. Key Facts
11.2.2. Business Description
11.2.3. Products and Services
11.2.4. Financial Overview
11.2.5. SWOT Analysis
11.2.6. Key Developments
11.3. BEIERSDORF AG
11.3.1. Key Facts
11.3.2. Business Description
11.3.3. Products and Services
11.3.4. Financial Overview
11.3.5. SWOT Analysis
11.3.6. Key Developments
11.4. COLGATE-PALMOLIVE COMPANY
11.4.1. Key Facts
11.4.2. Business Description
11.4.3. Products and Services
11.4.4. Financial Overview
11.4.5. SWOT Analysis
11.4.6. Key Developments
11.5. VICTORIA'S SECRET
11.5.1. Key Facts
11.5.2. Business Description
11.5.3. Products and Services
11.5.4. Financial Overview
11.5.5. SWOT Analysis
11.5.6. Key Developments
11.6. CHRISTIAN DIOR SE
11.6.1. Key Facts
11.6.2. Business Description
11.6.3. Products and Services
11.6.4. Financial Overview
11.6.5. SWOT Analysis
11.6.6. Key Developments
11.7. MARKS AND SPENCER PLC
11.7.1. Key Facts
11.7.2. Business Description
11.7.3. Products and Services
11.7.4. Financial Overview
11.7.5. SWOT Analysis
11.7.6. Key Developments
11.8. GODREJ GROUP
11.8.1. Key Facts
11.8.2. Business Description
11.8.3. Products and Services
11.8.4. Financial Overview
11.8.5. SWOT Analysis
11.8.6. Key Developments
11.9. CAVINKARE GROUP
11.9.1. Key Facts
11.9.2. Business Description
11.9.3. Products and Services
11.9.4. Financial Overview
11.9.5. SWOT Analysis
11.9.6. Key Developments
11.10. MCNROE CONSUMER PRODUCTS PRIVATE LIMITED
11.10.1. Key Facts
11.10.2. Business Description
11.10.3. Products and Services
11.10.4. Financial Overview
11.10.5. SWOT Analysis
11.10.6. Key Developments
12. APPENDIX
12.1. ABOUT THE INSIGHT PARTNERS
12.2. GLOSSARY OF TERMS
1.Unilever
2.L'Oréal Paris
3.Beiersdorf AG
4.Colgate-Palmolive Company
5.Victoria's Secret
6.Christian Dior SE
7.Marks and Spencer plc
8.Godrej Group
9.CavinKare Group
10.McNROE Consumer Products Private Limited
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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