Alcohol-Free Mouthwash Market Key Findings by 2031
The Alcohol-Free Mouthwash Market is expected to register a CAGR of 7.3% from 2023 to 2031, with a market size expanding from US$ XX million in 2023 to US$ XX Million by 2031.
The Alcohol-Free Mouthwash Market report covers analysis By Function, Distribution Channel, and Geography. The market research report offers segmentation and key market players.
Purpose of the ReportThe report Alcohol-Free Mouthwash 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.
Alcohol-Free Mouthwash Market Segmentation
Function- Anti-bacterial
- Breath-refreshing
- Mouth Moisturizing
- Others
- Supermarkets and Hypermarkets
- Specialty Stores
- Online Retail
- Others
Strategic Insights
Alcohol-Free Mouthwash Market Growth Drivers- Alcohol-free mouthwash consumption increases: In addition to awareness, the change in consumer behavior also opens its mouth to a flood of alcohol-free mouthwash consumption. Consumers increasingly want mouthwashes that safeguard gums and prevent oral diseases without having their usual beers, resulting in growth in the market for an alcohol-free segment that increased by 20% more in sales in the last five years.
- Natural ingredients drive product demand: Alcohol-free mouthwashes are typically more composed of natural ingredients and are purchased by much more health-oriented buyers. This is supported by market research, since demand for organic oral care products is also expected to grow at 15% per year. As a result, consumers become more discerning, and the corresponding producers innovate and improve their product lines, which, in the long run, supports growth in the overall market.
- Campaigns promote safer alternatives: Campaigns for safer alternatives to traditional mouthwashes are influencing consumer choice. Further, advanced formulation technologies are leading to the launch of effective alcohol-free products that will facilitate better oral hygiene. Recent reports in the market reveal that new product launches in the category of alcohol-free have increased by 30%, and its popularity in the market is there.
- Preference for alcohol-free, natural ingredients: Consumers are now preferring 'alcohol-free' mouthwashes containing natural ingredients. The same trend is, however, more pronounced in health and wellness. A recent survey revealed that 62% of consumers now prefer mouthwashes without artificial additives due to harm to the oral tissues.
- Demand for Natural ingredients: The players are now cashing in on this trend by infusing natural extracts and herbal components in the mouthwash. A SWOT analysis reveals strengths in product differentiation and growth opportunities, favoring brands that focus on clean-label products within the market dynamics.
- Rising awareness boosts market growth: The growing awareness of oral health and hygiene, especially after the pandemic is driving this market to a high extent. Market strategies like educating consumers are effective for brands as consumer engagement has increased by 25%. A PEST analysis highlights how health policies and consumer behavior shifts influence purchasing decisions to create a robust environment for alcohol-free products.
- E-commerce surges, boosting sales: With e-commerce surging 40% over the last year, the oral hygiene sector with alcohol-free mouthwash riding high on convenience and wider accessibility grows with such ease. Key players are using digital marketing strategies to capture such an audience, thereby increasing brand visibility. What is more, however, a SWOT analysis reveals that niche players may have opportunities to succeed in this space, whereas market dynamics show one focus agile supply chains have become critical in meeting rising consumer demands.
- Innovative formulations offer growth opportunities: In the alcohol-free mouthwash market, growth opportunities are vast, especially with the innovation in product formulation. Advanced technology affords the development of enhanced product mouthwashes that can hold freshness for a considerable period and possess stronger antibacterial properties. According to studies, about 60% of consumers are ready to use new products that promise better value solutions. Companies can thus differentiate themselves in the competitive landscape by investing in R&D to develop unique formulations, which will attract health-conscious consumers across different geographies.
- Expansion of retail channels critical: Expansion of retail channels in the form of pharmacies, supermarkets, and specialty health stores is opening new avenues for growth in the alcohol-free mouthwash market. According to data, around 40% of consumers want to buy oral care products from physical stores, making good physical retail presence a paramount factor.
- Expansion of distribution channels : Expansion of distribution channels with the right strategy may bring the much-needed access and visibility of the product for the brand, which is more critical in North America as convenient shopping is experiencing rapid growth among people.
- Health and wellness trends support growth: With broader trends in health and wellness, this product line of alcohol-free mouthwash has enormous growth opportunities. The latest surveys have shown that 50% of consumers are more interested in health-centric personal care products. By promoting mouthwashes as an important part of a well-rounded wellness lifestyle, brands can reach a much more diverse customer base and potentially boost their competitive analysis by tapping into emerging markets in the health-conscious demographic, especially in North America.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Alcohol-Free Mouthwash 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 Alcohol-Free Mouthwash 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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Frequently Asked Questions
The Alcohol-Free Mouthwash Market is expected to register a CAGR of 7.3% from 2023-2031.
The major factors impacting the Alcohol-Free Mouthwash Market are: Regulatory Support and Innovations, Shifting Consumer Preferences, and Increasing Health Consciousness
Key future trends in this market are - Health-conscious consumer trends, Natural ingredient-based products, Oral hygiene awareness increase
Key companies in this market are: J and JCI, Colgate Palmolive Company, Procter and Gamble, Sunstar Singapore Pte Ltd, Tom's of Maine Inc, GSK Group of Companies, Lion Corporation, Amway, CloSYS
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 Alcohol-Free Mouthwash Market - By Function
1.3.2 Alcohol-Free Mouthwash Market - By Distribution Channel
1.3.3 Alcohol-Free Mouthwash Market - By Region
1.3.3.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. ALCOHOL-FREE MOUTHWASH 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. ALCOHOL-FREE MOUTHWASH 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. ALCOHOL-FREE MOUTHWASH MARKET - GLOBAL MARKET ANALYSIS
6.1. ALCOHOL-FREE MOUTHWASH - GLOBAL MARKET OVERVIEW
6.2. ALCOHOL-FREE MOUTHWASH - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING
7. ALCOHOL-FREE MOUTHWASH MARKET - REVENUE AND FORECASTS TO 2028 - FUNCTION
7.1. OVERVIEW
7.2. FUNCTION MARKET FORECASTS AND ANALYSIS
7.3. ANTI-BACTERIAL
7.3.1. Overview
7.3.2. Anti-bacterial Market Forecast and Analysis
7.4. BREATH-REFRESHING
7.4.1. Overview
7.4.2. Breath-refreshing Market Forecast and Analysis
7.5. MOUTH MOISTURIZING
7.5.1. Overview
7.5.2. Mouth Moisturizing Market Forecast and Analysis
7.6. OTHERS
7.6.1. Overview
7.6.2. Others Market Forecast and Analysis
8. ALCOHOL-FREE MOUTHWASH 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. SPECIALTY STORES
8.4.1. Overview
8.4.2. Specialty 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. ALCOHOL-FREE MOUTHWASH MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
9.1. NORTH AMERICA
9.1.1 North America Alcohol-Free Mouthwash Market Overview
9.1.2 North America Alcohol-Free Mouthwash Market Forecasts and Analysis
9.1.3 North America Alcohol-Free Mouthwash Market Forecasts and Analysis - By Function
9.1.4 North America Alcohol-Free Mouthwash Market Forecasts and Analysis - By Distribution Channel
9.1.5 North America Alcohol-Free Mouthwash Market Forecasts and Analysis - By Countries
9.1.5.1 United States Alcohol-Free Mouthwash Market
9.1.5.1.1 United States Alcohol-Free Mouthwash Market by Function
9.1.5.1.2 United States Alcohol-Free Mouthwash Market by Distribution Channel
9.1.5.2 Canada Alcohol-Free Mouthwash Market
9.1.5.2.1 Canada Alcohol-Free Mouthwash Market by Function
9.1.5.2.2 Canada Alcohol-Free Mouthwash Market by Distribution Channel
9.1.5.3 Mexico Alcohol-Free Mouthwash Market
9.1.5.3.1 Mexico Alcohol-Free Mouthwash Market by Function
9.1.5.3.2 Mexico Alcohol-Free Mouthwash Market by Distribution Channel
9.2. EUROPE
9.2.1 Europe Alcohol-Free Mouthwash Market Overview
9.2.2 Europe Alcohol-Free Mouthwash Market Forecasts and Analysis
9.2.3 Europe Alcohol-Free Mouthwash Market Forecasts and Analysis - By Function
9.2.4 Europe Alcohol-Free Mouthwash Market Forecasts and Analysis - By Distribution Channel
9.2.5 Europe Alcohol-Free Mouthwash Market Forecasts and Analysis - By Countries
9.2.5.1 Germany Alcohol-Free Mouthwash Market
9.2.5.1.1 Germany Alcohol-Free Mouthwash Market by Function
9.2.5.1.2 Germany Alcohol-Free Mouthwash Market by Distribution Channel
9.2.5.2 France Alcohol-Free Mouthwash Market
9.2.5.2.1 France Alcohol-Free Mouthwash Market by Function
9.2.5.2.2 France Alcohol-Free Mouthwash Market by Distribution Channel
9.2.5.3 Italy Alcohol-Free Mouthwash Market
9.2.5.3.1 Italy Alcohol-Free Mouthwash Market by Function
9.2.5.3.2 Italy Alcohol-Free Mouthwash Market by Distribution Channel
9.2.5.4 United Kingdom Alcohol-Free Mouthwash Market
9.2.5.4.1 United Kingdom Alcohol-Free Mouthwash Market by Function
9.2.5.4.2 United Kingdom Alcohol-Free Mouthwash Market by Distribution Channel
9.2.5.5 Russia Alcohol-Free Mouthwash Market
9.2.5.5.1 Russia Alcohol-Free Mouthwash Market by Function
9.2.5.5.2 Russia Alcohol-Free Mouthwash Market by Distribution Channel
9.2.5.6 Rest of Europe Alcohol-Free Mouthwash Market
9.2.5.6.1 Rest of Europe Alcohol-Free Mouthwash Market by Function
9.2.5.6.2 Rest of Europe Alcohol-Free Mouthwash Market by Distribution Channel
9.3. ASIA-PACIFIC
9.3.1 Asia-Pacific Alcohol-Free Mouthwash Market Overview
9.3.2 Asia-Pacific Alcohol-Free Mouthwash Market Forecasts and Analysis
9.3.3 Asia-Pacific Alcohol-Free Mouthwash Market Forecasts and Analysis - By Function
9.3.4 Asia-Pacific Alcohol-Free Mouthwash Market Forecasts and Analysis - By Distribution Channel
9.3.5 Asia-Pacific Alcohol-Free Mouthwash Market Forecasts and Analysis - By Countries
9.3.5.1 Australia Alcohol-Free Mouthwash Market
9.3.5.1.1 Australia Alcohol-Free Mouthwash Market by Function
9.3.5.1.2 Australia Alcohol-Free Mouthwash Market by Distribution Channel
9.3.5.2 China Alcohol-Free Mouthwash Market
9.3.5.2.1 China Alcohol-Free Mouthwash Market by Function
9.3.5.2.2 China Alcohol-Free Mouthwash Market by Distribution Channel
9.3.5.3 India Alcohol-Free Mouthwash Market
9.3.5.3.1 India Alcohol-Free Mouthwash Market by Function
9.3.5.3.2 India Alcohol-Free Mouthwash Market by Distribution Channel
9.3.5.4 Japan Alcohol-Free Mouthwash Market
9.3.5.4.1 Japan Alcohol-Free Mouthwash Market by Function
9.3.5.4.2 Japan Alcohol-Free Mouthwash Market by Distribution Channel
9.3.5.5 South Korea Alcohol-Free Mouthwash Market
9.3.5.5.1 South Korea Alcohol-Free Mouthwash Market by Function
9.3.5.5.2 South Korea Alcohol-Free Mouthwash Market by Distribution Channel
9.3.5.6 Rest of Asia-Pacific Alcohol-Free Mouthwash Market
9.3.5.6.1 Rest of Asia-Pacific Alcohol-Free Mouthwash Market by Function
9.3.5.6.2 Rest of Asia-Pacific Alcohol-Free Mouthwash Market by Distribution Channel
9.4. MIDDLE EAST AND AFRICA
9.4.1 Middle East and Africa Alcohol-Free Mouthwash Market Overview
9.4.2 Middle East and Africa Alcohol-Free Mouthwash Market Forecasts and Analysis
9.4.3 Middle East and Africa Alcohol-Free Mouthwash Market Forecasts and Analysis - By Function
9.4.4 Middle East and Africa Alcohol-Free Mouthwash Market Forecasts and Analysis - By Distribution Channel
9.4.5 Middle East and Africa Alcohol-Free Mouthwash Market Forecasts and Analysis - By Countries
9.4.5.1 South Africa Alcohol-Free Mouthwash Market
9.4.5.1.1 South Africa Alcohol-Free Mouthwash Market by Function
9.4.5.1.2 South Africa Alcohol-Free Mouthwash Market by Distribution Channel
9.4.5.2 Saudi Arabia Alcohol-Free Mouthwash Market
9.4.5.2.1 Saudi Arabia Alcohol-Free Mouthwash Market by Function
9.4.5.2.2 Saudi Arabia Alcohol-Free Mouthwash Market by Distribution Channel
9.4.5.3 U.A.E Alcohol-Free Mouthwash Market
9.4.5.3.1 U.A.E Alcohol-Free Mouthwash Market by Function
9.4.5.3.2 U.A.E Alcohol-Free Mouthwash Market by Distribution Channel
9.4.5.4 Rest of Middle East and Africa Alcohol-Free Mouthwash Market
9.4.5.4.1 Rest of Middle East and Africa Alcohol-Free Mouthwash Market by Function
9.4.5.4.2 Rest of Middle East and Africa Alcohol-Free Mouthwash Market by Distribution Channel
9.5. SOUTH AND CENTRAL AMERICA
9.5.1 South and Central America Alcohol-Free Mouthwash Market Overview
9.5.2 South and Central America Alcohol-Free Mouthwash Market Forecasts and Analysis
9.5.3 South and Central America Alcohol-Free Mouthwash Market Forecasts and Analysis - By Function
9.5.4 South and Central America Alcohol-Free Mouthwash Market Forecasts and Analysis - By Distribution Channel
9.5.5 South and Central America Alcohol-Free Mouthwash Market Forecasts and Analysis - By Countries
9.5.5.1 Brazil Alcohol-Free Mouthwash Market
9.5.5.1.1 Brazil Alcohol-Free Mouthwash Market by Function
9.5.5.1.2 Brazil Alcohol-Free Mouthwash Market by Distribution Channel
9.5.5.2 Argentina Alcohol-Free Mouthwash Market
9.5.5.2.1 Argentina Alcohol-Free Mouthwash Market by Function
9.5.5.2.2 Argentina Alcohol-Free Mouthwash Market by Distribution Channel
9.5.5.3 Rest of South and Central America Alcohol-Free Mouthwash Market
9.5.5.3.1 Rest of South and Central America Alcohol-Free Mouthwash Market by Function
9.5.5.3.2 Rest of South and Central America Alcohol-Free Mouthwash 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. ALCOHOL-FREE MOUTHWASH MARKET, KEY COMPANY PROFILES
11.1. J AND JCI
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. COLGATE-PALMOLIVE COMPANY
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. PROCTER AND GAMBLE
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. SUNSTAR SINGAPORE PTE LTD.
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. TOM'S OF MAINE, INC.
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. GSK GROUP OF COMPANIES
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. LION CORPORATION
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. AMWAY
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. CLOSYS
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. AESOP
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.J and JCI
2.Colgate-Palmolive Company
3.Procter and Gamble
4.Sunstar Singapore Pte Ltd.
5.Tom's of Maine, Inc.
6.GSK Group of Companies
7.Lion Corporation
8.Amway
9.CloSYS
10.Aesop
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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