Agarwood Essential Oil Market Dynamics 2021-2031
The Agarwood Essential Oil Market is expected to register a CAGR of 8.3% from 2023 to 2031, with a market size expanding from US$ XX million in 2023 to US$ XX Million by 2031.
The Agarwood Essential Oil Market report covers analysis By Category and Application. 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 Agarwood Essential Oil 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.
Agarwood Essential Oil Market Segmentation
Category- Organic
- Conventional
- Personal Care
- Pharmaceuticals and Nutraceuticals
- Aromatherapy
- Food and Beverages
- Others
Strategic Insights
Agarwood Essential Oil Market Growth Drivers- Trend Towards Natural and Organic: One of the key drivers of the Agarwood Essential Oil Market is the global trend towards natural and organic. Consumers are today getting more conscious about wellness, thus creating a huge demand for premium plant-based oils like agarwood. This is all set to take the Agarwood Essential Oil Market to new heights. These oils are said to have therapeutic values and are consequently in very high demand in aromatherapy and personal care markets.
- Agarwood Essential Oil Gaining Popularity in Luxury Products: Agarwood essential oil is becoming a new ingredient in costly perfumes and cosmetics, which will accelerate the growth of the market. Because of its different fragrance profile, many premium brands are now using agarwood in their products to hold an individualistic position in this saturated market. On account of this growing demand for Agarwood Essential Oil, the Market Share in the Global Fragrance Industry is to increase. This market growth provides businesses with healthy Agarwood Essential Oil Market opportunities to innovate and capitalize on consumer interest.
- Policies Supporting Responsible Sourcing: Policies and regulations that are beneficial to responsible sourcing of agarwood work as a strong driver of the Agarwood Essential Oil Market. Governments and respective industry players are accelerating cultivation practices that protect wild agarwood trees for a long time, with the supply chain becoming sustainable and the product quality remaining intact. This will serve well in securing long-term opportunities for the Agarwood Essential Oil Market as most companies will opt for this method. The plantation crop count is likely to increase in the coming years and further support the Agarwood Essential Oil Market analysis.
- North America Sees Rising Demand for Agarwood Essential Oil: The North American agarwood Essential Oil Market is being increasing demand because of its rarity and unique fragrance. Premium brands of luxury perfumery and cosmetic products are using this oil in expensive formulations. The reason is that sales of luxury products increase by 10% yearly in the U.S. Therefore, the prospects of the Agarwood Essential Oil Market are widening in this region and, therefore, the growth forecast in the luxury segment.
- Sustainability in Production is a Key Market Trend: The biggest trend in the Agarwood Essential Oil Market is sustainability. More and more companies are adopting the ethics of harvesting as well as production. Techniques of artificial inoculation for agarwood trees help to sustain demand from all over the world while saving endangered species. This approach to sustainability has been most widely adopted by the North American agarwood Essential Oil Market. This supports the eco-friendly appeal of agarwood oil.
- Growing Acceptance of Agarwood Oil in Traditional Medicine: Agarwood essential oil is nowadays used in Asian traditional medication not only for its anti-inflammatory, analgesic, and soothing effects but also due to rising appreciation in the West for alternative medicines. Herb-based healthcare products are gaining acceptance as a substitute for chemical-based drug products. The Agarwood Essential Oil Market scope is expanding day by day due to the increasing acceptance of herbal healthcare products. With the global market of essential oils projected to stand at $14 billion by 2030, Agarwood is expected to top that and have a significant contribution towards that projection.
- Middle East and Africa Offer Significant Market Growth Potential: The Middle East and African markets hold immense future growth potential for Agarwood Essential Oil on account of the greater awareness and cultural affinity towards scentful products. Players who focus on these regions can bank upon this growth opportunity with the right approach toward marketing. The CAGR in the Middle East region is likely to be healthy, making this an excellent strategic entry point for niches such as luxury perfumes and aromatherapy.
- Wellness Industry Growth Provides Opportunities for Agarwood Oil: Agarwood essential oil market: The agarwood essential oil market is gaining value across global markets. Incorporation of the agarwood essential oil within the wellness industry, which is expected to touch $7 trillion by 2025, is likely to favor lucrative returns for industry players. Strong Agarwood Essential Oil Market growth can be expected owing to the application of product innovations and therapeutic blends by market players. Techniques in this direction are also strategies that focus on ways to increase the preferences of the consumer toward natural and holistic wellness solutions.
- E-Commerce Platforms Expand Market Reach and Opportunities: E-commerce platforms present a huge opportunity for Agarwood Essential Oil Market players to access a wider market globally. The online natural and organic beauty market is viewed as one of the key sales channels for agarwood essential oil. Through the application of digital marketing and direct-to-consumer models, firms would be in a position to gain valuable insights into the Agarwood Essential Oil Market, thereby increasing their market share.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Agarwood Essential Oil 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 Agarwood Essential Oil 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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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
The Agarwood Essential Oil Market is expected to register a CAGR of 8.3% from 2023-2031.
The major factors impacting the Agarwood Essential Oil Market are: Growing Investments in Sustainable Harvesting, Rising Usage in Perfume and Cosmetics Industry, and Increasing Consumer Demand for Natural Products
Key future trends in this market are - Rise in aromatherapy demand, Growth in luxury perfumes, Sustainable harvesting practices
Key companies in this market are: Hoang Giang Agarwood Ltd, Grandawood, Biolandes, Essential Oil Wizardry, Biofinest USA, Nusaroma, Dauper SA, HYSSES Pte Ltd, Living Libations
The report can be delivered in PDF/PPT format; we can also share excel dataset based on the request.
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.
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Agarwood Essential Oil Market - By Category
1.3.2 Agarwood Essential Oil Market - By Application
1.3.3 Agarwood Essential Oil Market - By Region
1.3.3.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. AGARWOOD ESSENTIAL OIL MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PORTER'S FIVE FORCES ANALYSIS
4.2.1 Bargaining Power of Buyers
4.2.1 Bargaining Power of Suppliers
4.2.1 Threat of Substitute
4.2.1 Threat of New Entrants
4.2.1 Competitive Rivalry
4.3. EXPERT OPINIONS
5. AGARWOOD ESSENTIAL OIL 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. AGARWOOD ESSENTIAL OIL MARKET - GLOBAL MARKET ANALYSIS
6.1. AGARWOOD ESSENTIAL OIL - GLOBAL MARKET OVERVIEW
6.2. AGARWOOD ESSENTIAL OIL - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. AGARWOOD ESSENTIAL OIL MARKET - REVENUE AND FORECASTS TO 2028 - CATEGORY
7.1. OVERVIEW
7.2. CATEGORY MARKET FORECASTS AND ANALYSIS
7.3. ORGANIC
7.3.1. Overview
7.3.2. Organic Market Forecast and Analysis
7.4. CONVENTIONAL
7.4.1. Overview
7.4.2. Conventional Market Forecast and Analysis
8. AGARWOOD ESSENTIAL OIL MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
8.1. OVERVIEW
8.2. APPLICATION MARKET FORECASTS AND ANALYSIS
8.3. PERSONAL CARE
8.3.1. Overview
8.3.2. Personal Care Market Forecast and Analysis
8.4. PHARMACEUTICALS AND NUTRACEUTICALS
8.4.1. Overview
8.4.2. Pharmaceuticals and Nutraceuticals Market Forecast and Analysis
8.5. AROMATHERAPY
8.5.1. Overview
8.5.2. Aromatherapy Market Forecast and Analysis
8.6. FOOD AND BEVERAGES
8.6.1. Overview
8.6.2. Food and Beverages Market Forecast and Analysis
8.7. OTHERS
8.7.1. Overview
8.7.2. Others Market Forecast and Analysis
9. AGARWOOD ESSENTIAL OIL MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
9.1. NORTH AMERICA
9.1.1 North America Agarwood Essential Oil Market Overview
9.1.2 North America Agarwood Essential Oil Market Forecasts and Analysis
9.1.3 North America Agarwood Essential Oil Market Forecasts and Analysis - By Category
9.1.4 North America Agarwood Essential Oil Market Forecasts and Analysis - By Application
9.1.5 North America Agarwood Essential Oil Market Forecasts and Analysis - By Countries
9.1.5.1 United States Agarwood Essential Oil Market
9.1.5.1.1 United States Agarwood Essential Oil Market by Category
9.1.5.1.2 United States Agarwood Essential Oil Market by Application
9.1.5.2 Canada Agarwood Essential Oil Market
9.1.5.2.1 Canada Agarwood Essential Oil Market by Category
9.1.5.2.2 Canada Agarwood Essential Oil Market by Application
9.1.5.3 Mexico Agarwood Essential Oil Market
9.1.5.3.1 Mexico Agarwood Essential Oil Market by Category
9.1.5.3.2 Mexico Agarwood Essential Oil Market by Application
9.2. EUROPE
9.2.1 Europe Agarwood Essential Oil Market Overview
9.2.2 Europe Agarwood Essential Oil Market Forecasts and Analysis
9.2.3 Europe Agarwood Essential Oil Market Forecasts and Analysis - By Category
9.2.4 Europe Agarwood Essential Oil Market Forecasts and Analysis - By Application
9.2.5 Europe Agarwood Essential Oil Market Forecasts and Analysis - By Countries
9.2.5.1 Germany Agarwood Essential Oil Market
9.2.5.1.1 Germany Agarwood Essential Oil Market by Category
9.2.5.1.2 Germany Agarwood Essential Oil Market by Application
9.2.5.2 France Agarwood Essential Oil Market
9.2.5.2.1 France Agarwood Essential Oil Market by Category
9.2.5.2.2 France Agarwood Essential Oil Market by Application
9.2.5.3 Italy Agarwood Essential Oil Market
9.2.5.3.1 Italy Agarwood Essential Oil Market by Category
9.2.5.3.2 Italy Agarwood Essential Oil Market by Application
9.2.5.4 United Kingdom Agarwood Essential Oil Market
9.2.5.4.1 United Kingdom Agarwood Essential Oil Market by Category
9.2.5.4.2 United Kingdom Agarwood Essential Oil Market by Application
9.2.5.5 Russia Agarwood Essential Oil Market
9.2.5.5.1 Russia Agarwood Essential Oil Market by Category
9.2.5.5.2 Russia Agarwood Essential Oil Market by Application
9.2.5.6 Rest of Europe Agarwood Essential Oil Market
9.2.5.6.1 Rest of Europe Agarwood Essential Oil Market by Category
9.2.5.6.2 Rest of Europe Agarwood Essential Oil Market by Application
9.3. ASIA-PACIFIC
9.3.1 Asia-Pacific Agarwood Essential Oil Market Overview
9.3.2 Asia-Pacific Agarwood Essential Oil Market Forecasts and Analysis
9.3.3 Asia-Pacific Agarwood Essential Oil Market Forecasts and Analysis - By Category
9.3.4 Asia-Pacific Agarwood Essential Oil Market Forecasts and Analysis - By Application
9.3.5 Asia-Pacific Agarwood Essential Oil Market Forecasts and Analysis - By Countries
9.3.5.1 Australia Agarwood Essential Oil Market
9.3.5.1.1 Australia Agarwood Essential Oil Market by Category
9.3.5.1.2 Australia Agarwood Essential Oil Market by Application
9.3.5.2 China Agarwood Essential Oil Market
9.3.5.2.1 China Agarwood Essential Oil Market by Category
9.3.5.2.2 China Agarwood Essential Oil Market by Application
9.3.5.3 India Agarwood Essential Oil Market
9.3.5.3.1 India Agarwood Essential Oil Market by Category
9.3.5.3.2 India Agarwood Essential Oil Market by Application
9.3.5.4 Japan Agarwood Essential Oil Market
9.3.5.4.1 Japan Agarwood Essential Oil Market by Category
9.3.5.4.2 Japan Agarwood Essential Oil Market by Application
9.3.5.5 South Korea Agarwood Essential Oil Market
9.3.5.5.1 South Korea Agarwood Essential Oil Market by Category
9.3.5.5.2 South Korea Agarwood Essential Oil Market by Application
9.3.5.6 Rest of Asia-Pacific Agarwood Essential Oil Market
9.3.5.6.1 Rest of Asia-Pacific Agarwood Essential Oil Market by Category
9.3.5.6.2 Rest of Asia-Pacific Agarwood Essential Oil Market by Application
9.4. MIDDLE EAST AND AFRICA
9.4.1 Middle East and Africa Agarwood Essential Oil Market Overview
9.4.2 Middle East and Africa Agarwood Essential Oil Market Forecasts and Analysis
9.4.3 Middle East and Africa Agarwood Essential Oil Market Forecasts and Analysis - By Category
9.4.4 Middle East and Africa Agarwood Essential Oil Market Forecasts and Analysis - By Application
9.4.5 Middle East and Africa Agarwood Essential Oil Market Forecasts and Analysis - By Countries
9.4.5.1 South Africa Agarwood Essential Oil Market
9.4.5.1.1 South Africa Agarwood Essential Oil Market by Category
9.4.5.1.2 South Africa Agarwood Essential Oil Market by Application
9.4.5.2 Saudi Arabia Agarwood Essential Oil Market
9.4.5.2.1 Saudi Arabia Agarwood Essential Oil Market by Category
9.4.5.2.2 Saudi Arabia Agarwood Essential Oil Market by Application
9.4.5.3 U.A.E Agarwood Essential Oil Market
9.4.5.3.1 U.A.E Agarwood Essential Oil Market by Category
9.4.5.3.2 U.A.E Agarwood Essential Oil Market by Application
9.4.5.4 Rest of Middle East and Africa Agarwood Essential Oil Market
9.4.5.4.1 Rest of Middle East and Africa Agarwood Essential Oil Market by Category
9.4.5.4.2 Rest of Middle East and Africa Agarwood Essential Oil Market by Application
9.5. SOUTH AND CENTRAL AMERICA
9.5.1 South and Central America Agarwood Essential Oil Market Overview
9.5.2 South and Central America Agarwood Essential Oil Market Forecasts and Analysis
9.5.3 South and Central America Agarwood Essential Oil Market Forecasts and Analysis - By Category
9.5.4 South and Central America Agarwood Essential Oil Market Forecasts and Analysis - By Application
9.5.5 South and Central America Agarwood Essential Oil Market Forecasts and Analysis - By Countries
9.5.5.1 Brazil Agarwood Essential Oil Market
9.5.5.1.1 Brazil Agarwood Essential Oil Market by Category
9.5.5.1.2 Brazil Agarwood Essential Oil Market by Application
9.5.5.2 Argentina Agarwood Essential Oil Market
9.5.5.2.1 Argentina Agarwood Essential Oil Market by Category
9.5.5.2.2 Argentina Agarwood Essential Oil Market by Application
9.5.5.3 Rest of South and Central America Agarwood Essential Oil Market
9.5.5.3.1 Rest of South and Central America Agarwood Essential Oil Market by Category
9.5.5.3.2 Rest of South and Central America Agarwood Essential Oil Market by Application
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. AGARWOOD ESSENTIAL OIL MARKET, KEY COMPANY PROFILES
11.1. HOANG GIANG AGARWOOD LTD.
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. GRANDAWOOD
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. BIOLANDES
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. ESSENTIAL OIL WIZARDRY
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. BIOFINEST USA
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. NUSAROMA
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. DAUPER SA
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. HYSSES PTE LTD.
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. LIVING LIBATIONS
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. AGARWOOD OIL INC.
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. Hoang Giang Agarwood Ltd.
2. Grandawood
3. Biolandes
4. Essential Oil Wizardry
5. Biofinest USA
6. Nusaroma
7. Dauper SA
8. HYSSES Pte Ltd.
9. Living Libations
10. Agarwood Oil Inc.
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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