Agro Textiles Market Overview and Forecast by 2031
The Agro Textiles Market is expected to register a CAGR of 7% from 2023 to 2031, with a market size expanding from US$ XX Million in 2023 to US$ XX Million by 2031.
The report is segmented by product (Fishing Nets, Anti-Hail nets & Bird Protection Nets, Mulch-Mats, Shade-Nets, and Others). The report further presents analysis based on application (Aquaculture, Horticulture & Floriculture, Agriculture, and Others). The global analysis is further broken-down at regional level and major countries. The market size and forecast at global, regional, and country levels for all the key market segments are covered under the scope. The report offers the value in USD for the above analysis and segments. The report provides key statistics on the market status of the key market players and offers market trends and opportunities.
Purpose of the ReportThe report Agro Textiles 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.
Agro Textiles Market Segmentation
Product- Fishing Nets
- Anti-Hail nets & Bird Protection Nets
- Mulch-Mats
- Shade-Nets
- Aquaculture
- Horticulture & Floriculture
- Agriculture
Strategic Insights
Agro Textiles Market Growth Drivers- Increasing global demand for food and agricultural productivity: Global demand for food increases and is therefore one of the main drivers of the agro-textile market. The population is growing; thus, the demand for higher agricultural productivity continues to increase. Agro-textiles such as nets, shading materials, and mulch films help optimize crop production by protecting crops from pests, diseases, and extreme weather conditions. They are also used to regulate temperature and humidity to create an environment that can support plant growth. This condition is what causes the adoption of agro-textiles establishing them worldwide.
- Sustainable farm procedures and environmental concerns: With sustainability gradually becoming the mantra of agriculture, agro-textiles are beginning to be seen in the green light. For instance, biodegradable mulch films are replacing conventional plastic mulch films, thus reducing the plastic waste in agricultural fields. As part of resource-efficient farming, these agro-textiles, supplemented by nets for pest control and shade fabrics, aim to reduce dependence on those chemical pesticides and fertilizers, whose use harms the environment. With increased demand for environmentally sustainable farming, notions go to agro-textiles in establishing them as viable alternatives for resource-efficient farming.
- Changing weather conditions and climate change: Climate change continues to undermine the regularity and intensity of weather patterns or phenomena, including drought, floods, and temperature extremes. The important solution to prevent such environmental deaths constitutes agro-textiles or protective netting, shade cloth, weather-resistant covers, and so on. Such structures can serve as protective devices for adverse environmental conditions, maintaining soil moisture, and regulating temperature. The increased incidence of extreme weather conditions, therefore, means that agro-textiles will be increasingly required, giving very farmable innovated approaches to respond to climatic variability.
- Development of biodegradable and eco-friendly materials: Sustainable development has become one of the most vital topics in agriculture at the present time and will surely dominate the world's future agro-textile market. It is expected "soon" to enter into the fold of the agro-textile industries moving towards biodegradables and eco-friendly materials. The whole industry has experienced raising awareness that such biodegradable agro-textiles-screen and mulch films, nets manufactured from natural fiber or biodegradable polymer, are of value because they would almost automatically reduce the environmental footprint of farming operations. It reduces plastic waste accumulation by decomposing further down the line after putting it to use during production. It is believed that the continued development and adoption of such agro-textiles would greatly trend the market.
- Development in smart agro-textiles: Another significant effect on the future of the market is in technological inclusiveness in agro-textiles. Gradually, smart agro-textiles, or textiles capable of sensing and reacting to changes in environmental conditions, would be increasingly in use. These types of garments will be designed with sensors that measure humidity and temperature in the soil, as well as pest-related data, allowing farmers to appreciate the need for irrigation and pest control according to crop performance. Regarding precision farming and digital agriculture, one can suspect such an integration will only strengthen as the smart agro-textiles become more commonplace.
- Rise of vertical farming and controlled environment agriculture: Such changes in the environment due to farming-controlled currents throw fresh prospects into agro-textiles globally. With increasing urbanization and decreasing arable land, vertical farming-that is growing vegetation in stacked layers-or in controlled environments becomes a reality for most. Agro-textiles, including reflective films, UV blocking materials, and temperature-regulating fabrics, all build up to these systems by creating the optimum growing conditions. With more and more acceptance of these systems of growing, there will be a demand for more specialized agro-textiles specifically made for use in vertical farming and controlled environment agriculture.
- Expansion in emerging markets: This is certainly true, as while Asia-Pacific, Africa, and Latin America are undergoing transitions, they offer the greatest potential for the global agro-textile market. Most of these countries depend on agriculture and are now turning to agro-textiles for improving crop yield and for other climate-related shocks to farmers. Increased demand for agro-textiles is expected to come from the heightened culture of modern farming to sustainable practice by farmers, especially in these areas. Government encouraging and subsidizing sustainable agricultural practices and food security in developing economies tend to promote even further the growth of the market.
- Integration of agro-textiles into organic farming: Nowadays, organic farming is rapidly being embraced for its popularity among consumers who have developed a much higher consciousness of the use of pesticides in foods and, consequently, an inclination towards organic produce. The other primary functions of agro-textiles in organic farming are pest control, soil protection, and moisture retention of crops without chemicals. This increasing practice of organic farming worldwide is the main opportunity for the agro-textile market. Increase in organic farming would raise demand for agro-textiles for organic farming. This would represent a sizable niche for eco-textile manufacturers.
- Technological partnerships and collaborations: This is yet one of the major market opportunities for agro-textile producers and technology developers. New material integration, like smart fabrics and nano- coating textiles, would also enrich agro-textile functionalities and performances. Such collaborations might create textiles that can hold high water retention ability, provide UV protection, and equipped with sensors for better monitoring of crops through technology companies. These partnerships of textile manufacturers and tech companies will serve as a major avenue for innovation and market expansion as the demand for high-tech, multifunctional agro-textiles intensifies.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Agro Textiles 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 Agro Textiles 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
Smart and responsive textiles is expected to be the key market trends
Based on geography, Asia Pacific held the largest share of the agro textiles market due to the well-established agriculture industry across the region, coupled with continuous growth and development
Based on product, the mulch-mats segment is expected to witness the fastest growth during the forecast period
Tama;SRF Limited;Belton Industries;Beaulieu Technical Textiles;Diatex;Meyabond Industry & Trading (Beijing)Co., Ltd.;Zhongshan Hongjun Nonwoven Co., Ltd.;Hy-Tex (UK) Limited;CAPATEX LTD;B&V Agro Irrigation Co
Increasing demand for food security is driving the market growth
The Agro Textiles Market is estimated to witness a CAGR of 7% from 2023 to 2031
TABLE OF CONTENTS
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1. Agro Textiles Market- By Product
1.3.2. Agro Textiles Market- By Application
1.3.3. Agro Textiles Market- By Region
1.3.3.1. By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. AGRO TEXTILES MARKET LANDSCAPE
4.1. MARKET 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 & Africa - PEST Analysis
4.2.5. South and Central America - PEST Analysis
5. AGRO TEXTILES MARKET- KEY INDUSTRY 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, RESTRAINTS & EXPECTED INFLUENCE OF COVID-19 PANDEMIC
6. AGRO TEXTILES MARKET- GLOBAL ANALYSIS
6.1. AGRO TEXTILES MARKET - GLOBAL MARKET OVERVIEW
6.2. AGRO TEXTILES MARKET - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/ MARKET SHARE OF KEY PLAYERS
7. AGRO TEXTILES MARKET REVENUE AND FORECASTS TO 2028 - PRODUCT
7.1. OVERVIEW
7.2. PRODUCT MARKET FORECASTS AND ANALYSIS
7.3. FISHING NETS MARKET
7.3.1. Overview
7.3.2. Fishing Nets Market Forecast and Analysis (US$ Mn)
7.4. ANTI-HAIL NETS & BIRD PROTECTION NETS MARKET
7.4.1. Overview
7.4.2. Anti-Hail Nets & Bird Protection Nets Market Forecast and Analysis (US$ Mn)
7.5. MULCH-MATS MARKET
7.5.1. Overview
7.5.2. Mulch-Mats Market Forecast and Analysis (US$ Mn)
7.6. SHADE-NETS MARKET
7.6.1. Overview
7.6.2. Shade-Nets Market Forecast and Analysis (US$ Mn)
7.7. OTHER PRODUCTS MARKET
7.7.1. Overview
7.7.2. Other Products Market Forecast and Analysis (US$ Mn)
8. AGRO TEXTILES MARKET REVENUE AND FORECASTS TO 2028 - APPLICATION
8.1. OVERVIEW
8.2. APPLICATION MARKET FORECASTS AND ANALYSIS
8.3. AQUACULTURE MARKET
8.3.1. Overview
8.3.2. Aquaculture Market Forecast and Analysis (US$ Mn)
8.4. HORTICULTURE & FLORICULTURE MARKET
8.4.1. Overview
8.4.2. Horticulture & Floriculture Market Forecast and Analysis (US$ Mn)
8.5. AGRICULTURE MARKET
8.5.1. Overview
8.5.2. Agriculture Market Forecast and Analysis (US$ Mn)
8.6. OTHER APPLICATIONS MARKET
8.6.1. Overview
8.6.2. Other Applications Market Forecast and Analysis (US$ Mn)
9. AGRO TEXTILES MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
9.1. NORTH AMERICA AGRO TEXTILES MARKET
9.1.1. North America Agro Textiles Market Forecasts and Analysis (US$ Mn)
9.1.2. North America Agro Textiles Market Forecasts and Analysis - By Product (US$ Mn)
9.1.3. North America Agro Textiles Market Forecasts and Analysis - By Application (US$ Mn)
9.1.4. North America Agro Textiles Market Forecasts and Analysis - By Country
9.1.5. US Market Overview
9.1.5.1. US Agro Textiles Market Forecasts and Analysis - By Product (US$ Mn)
9.1.5.2. US Agro Textiles Market Forecasts and Analysis - By Application (US$ Mn)
9.1.6. Canada Market Overview
9.1.6.1. Canada Agro Textiles Market Forecasts and Analysis - By Product (US$ Mn)
9.1.6.2. Canada Agro Textiles Market Forecasts and Analysis - By Application (US$ Mn)
9.1.7. Mexico Market Overview
9.1.7.1. Mexico Agro Textiles Market Forecasts and Analysis - By Product (US$ Mn)
9.1.7.2. Mexico Agro Textiles Market Forecasts and Analysis - By Application (US$ Mn)
9.2. EUROPE AGRO TEXTILES MARKET
9.2.1. Europe Agro Textiles Market Forecasts and Analysis (US$ Mn)
9.2.2. Europe Agro Textiles Market Forecasts and Analysis - By Product (US$ Mn)
9.2.3. Europe Agro Textiles Market Forecasts and Analysis - By Application (US$ Mn)
9.2.4. Europe Agro Textiles Market Forecasts and Analysis - By Country
9.2.5. UK Market Overview
9.2.5.1. UK Agro Textiles Market Forecasts and Analysis - By Product (US$ Mn)
9.2.5.2. UK Agro Textiles Market Forecasts and Analysis - By Application (US$ Mn)
9.2.6. Germany Market Overview
9.2.6.1. Germany Agro Textiles Market Forecasts and Analysis - By Product (US$ Mn)
9.2.6.2. Germany Agro Textiles Market Forecasts and Analysis - By Application (US$ Mn)
9.2.7. France Market Overview
9.2.7.1. France Agro Textiles Market Forecasts and Analysis - By Product (US$ Mn)
9.2.7.2. France Agro Textiles Market Forecasts and Analysis - By Application (US$ Mn)
9.2.8. Italy Market Overview
9.2.8.1. Italy Agro Textiles Market Forecasts and Analysis - By Product (US$ Mn)
9.2.8.2. Italy Agro Textiles Market Forecasts and Analysis - By Application (US$ Mn)
9.2.9. Spain Market Overview
9.2.9.1. Spain Agro Textiles Market Forecasts and Analysis - By Product (US$ Mn)
9.2.9.2. Spain Agro Textiles Market Forecasts and Analysis - By Application (US$ Mn)
9.3. ASIA PACIFIC AGRO TEXTILES MARKET
9.3.1. Asia Pacific Agro Textiles Market Forecasts and Analysis (US$ Mn)
9.3.2. Asia Pacific Agro Textiles Market Forecasts and Analysis - By Product (US$ Mn)
9.3.3. Asia Pacific Agro Textiles Market Forecasts and Analysis - By Application (US$ Mn)
9.3.4. Asia Pacific Agro Textiles Market Forecasts and Analysis - By Country
9.3.5. Japan Market Overview
9.3.5.1. Japan Agro Textiles Market Forecasts and Analysis - By Product (US$ Mn)
9.3.5.2. Japan Agro Textiles Market Forecasts and Analysis - By Application (US$ Mn)
9.3.6. India Market Overview
9.3.6.1. India Agro Textiles Market Forecasts and Analysis - By Product (US$ Mn)
9.3.6.2. India Agro Textiles Market Forecasts and Analysis - By Application (US$ Mn)
9.3.7. China Market Overview
9.3.7.1. China Agro Textiles Market Forecasts and Analysis - By Product (US$ Mn)
9.3.7.2. China Agro Textiles Market Forecasts and Analysis - By Application (US$ Mn)
9.3.8. Australia Market Overview
9.3.8.1. Australia Agro Textiles Market Forecasts and Analysis - By Product (US$ Mn)
9.3.8.2. Australia Agro Textiles Market Forecasts and Analysis - By Application (US$ Mn)
9.3.9. South Korea Market Overview
9.3.9.1. South Korea Agro Textiles Market Forecasts and Analysis - By Product (US$ Mn)
9.3.9.2. South Korea Agro Textiles Market Forecasts and Analysis - By Application (US$ Mn)
9.4. MIDDLE EAST & AFRICA (MEA) AGRO TEXTILES MARKET
9.4.1. Middle East & Africa (MEA) Agro Textiles Market Forecasts and Analysis (US$ Mn)
9.4.2. Middle East & Africa (MEA) Agro Textiles Market Forecasts and Analysis - By Product (US$ Mn)
9.4.3. Middle East & Africa (MEA) Agro Textiles Market Forecasts and Analysis - By Application (US$ Mn)
9.4.4. Middle East & Africa (MEA) Agro Textiles Market Forecasts and Analysis - By Country
9.4.5. South Africa Market Overview
9.4.5.1. South Africa Agro Textiles Market Forecasts and Analysis - By Product (US$ Mn)
9.4.5.2. South Africa Agro Textiles Market Forecasts and Analysis - By Application (US$ Mn)
9.4.6. Saudi Arabia Market Overview
9.4.6.1. Saudi Arabia Agro Textiles Market Forecasts and Analysis - By Product (US$ Mn)
9.4.6.2. Saudi Arabia Agro Textiles Market Forecasts and Analysis - By Application (US$ Mn)
9.4.7. UAE Market Overview
9.4.7.1. UAE Agro Textiles Market Forecasts and Analysis - By Product (US$ Mn)
9.4.7.2. UAE Agro Textiles Market Forecasts and Analysis - By Application (US$ Mn)
9.5. SOUTH AND CENTRAL AMERICA AGRO TEXTILES MARKET
9.5.1. South and Central America Agro Textiles Market Forecasts and Analysis (US$ Mn)
9.5.2. South and Central America Agro Textiles Market Forecasts and Analysis - By Product (US$ Mn)
9.5.3. South and Central America Agro Textiles Market Forecasts and Analysis - By Application (US$ Mn)
9.5.4. South and Central America Agro Textiles Market Forecasts and Analysis - By Country
9.5.5. Brazil Market Overview
9.5.5.1. Brazil Agro Textiles Market Forecasts and Analysis - By Product (US$ Mn)
9.5.5.2. Brazil Agro Textiles Market Forecasts and Analysis - By Application (US$ Mn)
9.5.6. Argentina Market Overview
9.5.6.1. Argentina Agro Textiles Market Forecasts and Analysis - By Product (US$ Mn)
9.5.6.2. Argentina Agro Textiles Market Forecasts and Analysis - By Application Method (US$ Mn)
10. INDUSTRY LANDSCAPE
10.1. ORGANIC GROWTH STRATEGIES
10.1.1. New Product Launches
10.1.2. Marketing & Promotional Activities
10.2. INORGANIC GROWTH STRATEGIES
10.2.1. Partnerships, Collaborations, and Joint Ventures
10.2.2. Mergers & Acquisitions
11. AGRO TEXTILES MARKET, KEY COMPANY PROFILES
11.1. TAMA
11.1.1. Key Facts
11.1.2. Business Description
11.1.3. Financial Overview
11.1.4. Product Portfolio
11.1.5. SWOT Analysis
11.1.6. Key Developments
11.2. SRF LIMITED
11.2.1. Key Facts
11.2.2. Business Description
11.2.3. Financial Overview
11.2.4. Product Portfolio
11.2.5. SWOT Analysis
11.2.6. Key Developments
11.3. BELTON INDUSTRIES
11.3.1. Key Facts
11.3.2. Business Description
11.3.3. Financial Overview
11.3.4. Product Portfolio
11.3.5. SWOT Analysis
11.3.6. Key Developments
11.4. BEAULIEU TECHNICAL TEXTILES
11.4.1. Key Facts
11.4.2. Business Description
11.4.3. Financial Overview
11.4.4. Product Portfolio
11.4.5. SWOT Analysis
11.4.6. Key Developments
11.5. DIATEX
11.5.1. Key Facts
11.5.2. Business Description
11.5.3. Financial Overview
11.5.4. Product Portfolio
11.5.5. SWOT Analysis
11.5.6. Key Developments
11.6. MEYABOND INDUSTRY & TRADING (BEIJING)CO., LTD.
11.6.1. Key Facts
11.6.2. Business Description
11.6.3. Financial Overview
11.6.4. Product Portfolio
11.6.5. SWOT Analysis
11.6.6. Key Developments
11.7. ZHONGSHAN HONGJUN NONWOVEN CO., LTD.
11.7.1. Key Facts
11.7.2. Business Description
11.7.3. Financial Overview
11.7.4. Product Portfolio
11.7.5. SWOT Analysis
11.7.6. Key Developments
11.8. HY-TEX (UK) LIMITED
11.8.1. Key Facts
11.8.2. Business Description
11.8.3. Financial Overview
11.8.4. Product Portfolio
11.8.5. SWOT Analysis
11.8.6. Key Developments
11.9. CAPATEX LTD
11.9.1. Key Facts
11.9.2. Business Description
11.9.3. Financial Overview
11.9.4. Product Portfolio
11.9.5. SWOT Analysis
11.9.6. Key Developments
11.10. B&V AGRO IRRIGATION CO
11.10.1. Key Facts
11.10.2. Business Description
11.10.3. Financial Overview
11.10.4. Product Portfolio
11.10.5. SWOT Analysis
11.10.6. Key Developments
12. APPENDIX
12.1. ABOUT THE INSIGHT PARTNERS
12.2. GLOSSARY OF TERMS
The List of Companies
1. Tama
2. SRF Limited
3. Belton Industries
4. Beaulieu Technical Textiles
5. Diatex
6. Meyabond Industry & Trading (Beijing) Co., Ltd.
7. Zhongshan Hongjun Nonwoven Co., Ltd.
8. Hy-Tex (UK) Limited
9. CAPATEX LTD
10. B&V Agro Irrigation Co
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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