Baby Diaper Market Developments by 2031
[Research Report] The baby diaper market size accounted for approximately USD 47 billion in 2022 and is projected to register a CAGR of ~5.5% from 2022 to 2031 to reach 73 billion in 2031.
Market Insights and Analyst View:
Baby diapers are among the most essential products in baby hygiene and care products. Thousands of parents globally use baby diapers for their babies to keep them dry and clean. Rising birth rates, rapid urbanization, increasing disposable income, and hygiene awareness are the key factors driving the baby diapers market growth. An increase in number of births directly impacts the demand for baby diapers. According to the Centers for Disease Control and Prevention (CDC), the number of births in the US in 2021 accounted for 3.66 million. Further, the rising urban population, changing lifestyle, and willingness of parents to spend on premium and more convenient diaper options are significant factors boosting the baby diaper market growth.
The rising working-class population is also impacting the bay diapers market. The trend of both parents working has increased the sales of more convenient baby products, including diapers. According to the Bureau of Labor Statistics, around 61% of married couples in the US have both spouses working. The number of dual-income households is increasing due to increasing living standards and rising cost of living. Thus, working parents prefer baby products that offer convenience as well as help them save time and effort. Thus, as parents seek convenience, the demand for baby diapers is expected to rise two-fold over the forecast period.
Growth Drivers and Challenges:
Over the past few years, people's awareness of environmental sustainability has increased significantly. Plastic waste has affected the earth's natural ecosystems and poses a significant threat to the present and future generations' well-being. Global population growth, urbanization, and lack of waste management are the primary reasons behind burdening landfills. Due to the rising global population, the demand for baby diapers is also increasing. However, disposable baby diapers pose significant harm to the environment as they are hard to decompose and remain as it is for thousands of years in landfills. Therefore, parents are increasingly adopting biodegradable, eco-friendly, and reusable diapers that are easy to clean and convenient to use. Manufacturers are also launching eco-friendly diapers to meet the rising consumer demand. Moreover, they are incorporating plant-based materials in their products to ensure baby's safety and hygiene with skin-friendly ingredients. For instance, in October 2021, Mamaearth launched plant-based diapers with a "Touch of Goodness" campaign. The diapers are MadeSafe certified and are enriched with nature's goodness, with two times more absorption compared to regular diapers. Such product launches are expected to open lucrative opportunities in the baby diapers market over the forecast period.
The trend of plant-based diapers is emerging rapidly as parents perceive these products to be safer and environmentally sustainable. Plant-based diapers are often free from chemicals, fragrances, and additives that can potentially irritate a baby's sensitive skin, making them a safer and healthier alternative to traditional diapers. Also, plant-based diapers are designed to break down more easily in landfills, reducing their long-term environmental impact. Thus, the rise in plant-based trends is expected to impact the baby diapers market in the long run positively.
Strategic Insights
Report Segmentation and Scope:
The "Global Baby Diaper Market" is segmented based on type, distribution channel, and geography. Based on type, the baby diaper market is segmented into disposable and reusable. The market based on distribution channels is segmented into supermarkets and hypermarkets, convenience stores, online retail, and others. The market based on geography is segmented into North America (the US, Canada, and Mexico), Europe (Germany, France, Italy, the UK, Russia, and the Rest of Europe), Asia Pacific (Australia, China, Japan, India, South Korea, and the Rest of Asia Pacific), Middle East & Africa (South Africa, Saudi Arabia, the UAE, and the Rest of Middle East & Africa), and South & Central America (Brazil, Argentina, and the Rest of South & Central America).
Segmental Analysis:
Based on type, the baby diaper market is segmented into disposable and reusable. The disposable segment is expected to hold a significant share of the baby diaper market, whereas the reusable segment is expected to register significant growth over the forecast period. Increasing awareness of the environmental impact of disposable diapers, which can take hundreds of years to decompose in landfills, has prompted many parents to switch to reusable and eco-friendly diaper options. Moreover, reusable diapers are also cost-effective as they can be used multiple times, saving money in the long run, especially for families with two or more children. These factors are significantly driving the growth of the reusable baby diapers market. Furthermore, some parents are highly concerned about their baby's hygiene and choose cloth diapers that are free from harmful chemicals, toxins, chlorines, and bleaching agents. This factor also influences the baby diapers market growth.
Regional Analysis:
Based on geography, the baby diaper market is divided into five key regions: North America, Europe, Asia Pacific, South & Central America, and Middle East & Africa. The Asia Pacific baby diaper market is expected to grow significantly over the forecast period. Many countries, including India and China, are highly populated and are experiencing high birth rates. This factor directly impacts the demand for baby diapers in the region. Moreover, rising disposable income, improving living standards, and rising ability to afford high-quality and premium baby diapers are also driving the market growth. The shift from rural to urban areas is also leading to increased demand for disposable baby diapers as they are more convenient for parents living in urban areas. Further, the booming e-commerce industry in the Asia Pacific and boosting sales of baby diapers through online channels due to convenience, availability of a wide range of products of different brands, home delivery services, and huge discounts and offers are also driving the baby diapers market growth in the region.
Industry Developments and Future Opportunities:
Various initiatives taken by key players operating in the baby diaper market are listed below:
- In December 2019, Ontex BV launched a new diaper absorption technology, "Climaflex," which features absorption with extensive baby motion and challenging conditions. The technology also ensures comfort and skin protection for the babies.
- In 2021, Pampers, a Procter and Gamble Co brand, launched smart diapers under the brand Lumi that monitor babies' sleeping patterns and track their pee. The system consists of two active diaper sensors, a Logitech camera for monitoring sleep, and a mobile application that tracks all the data.
- In September 2023, Freestyle BambooTek, a baby diaper brand, expanded its retail footprint by launching its diaper at Whole Foods stores across the US and online.
COVID-19 Impact:
The COVID-19 pandemic affected almost all industries in various countries. Lockdowns, travel restrictions, and business shutdowns in North America, Europe, Asia Pacific (APAC), South & Central America (SAM), and the Middle East & Africa (MEA) hampered the growth of several industries, including the consumer goods and personal care industries. The shutdown of manufacturing units disturbed global supply chains, manufacturing activities, delivery schedules, and essential and nonessential product sales. Various companies witnessed delays in product deliveries and a slump in sales of their products in 2021.
The shortage of labor force needed in manufacturing units and a temporary halt on on-premises sales through specialty stores, supermarkets, and convenience stores due to lockdowns and social distancing measures further negatively affected the market sales. Thus, significant companies in the bay diapers market faced the hardest hit during the initial phase of the pandemic. The COVID-19 pandemic had a mixed impact on the baby diapers market during the pandemic. Initially, there was a surge in demand for baby diapers as parents stocked essential items due to the fear of shortages and lockdowns. However, the manufacturers faced challenges in meeting the demand due to the shutdown of manufacturing plants, which created a shortage. Prominent manufacturers with high inventory could meet the surge in demand. However, small-scale manufacturers faced significant losses.
In 2021, various economies resumed operations as several governments announced relaxation in the previously imposed restrictions, positively impacting the global marketplace. Moreover, manufacturers were permitted to operate at full capacity, which helped them overcome the demand and supply gap. The e-commerce industry witnessed a significant boom during the pandemic as brick-and-mortar stores were closed, and consumers had the convenience of shopping multiple products online remotely. Consumers are expected to continue with the online shopping trends due to home delivery, offers and discounts, and convenience of shopping. This factor is also expected to provide strong growth potential to the baby diapers market over the forthcoming years.
Competitive Landscape and Key Companies:
A few of the prominent players operating in the global baby diaper market are Kimberly-Clark Corporation, Proctor and Gamble Co, Unicharm Corporation, Johnson and Johnson Private Limited, INDEVCO Group, HANSEN KIDS LLC, Ontex BV, Cardinal Health Inc, PureBorn, and The Honest Company Inc. among others. These market players are adopting strategic development initiatives to expand, further driving the baby diaper market growth. These companies are adopting various strategies such as merger & acquisition, partnership, collaboration, new product development, and plant capacity expansion to increase their baby diapers market share.
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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
- 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
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Baby Diapers Market - By Type
1.3.2 Baby Diapers Market - By Size
1.3.3 Baby Diapers Market - By Distribution Channel
1.3.4 Baby Diapers Market - By Region
1.3.4.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. BABY DIAPERS 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. BABY DIAPERS 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. BABY DIAPERS MARKET - GLOBAL MARKET ANALYSIS
6.1. BABY DIAPERS - GLOBAL MARKET OVERVIEW
6.2. BABY DIAPERS - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. BABY DIAPERS MARKET - REVENUE AND FORECASTS TO 2028 – TYPE
7.1. OVERVIEW
7.2. TYPE MARKET FORECASTS AND ANALYSIS
7.3. DISPOSABLE DIAPERS
7.3.1. Overview
7.3.2. Disposable Diapers Market Forecast and Analysis
7.4. NON-DISPOSABLE DIAPERS
7.4.1. Overview
7.4.2. Non-disposable Diapers Market Forecast and Analysis
8. BABY DIAPERS MARKET - REVENUE AND FORECASTS TO 2028 – SIZE
8.1. OVERVIEW
8.2. SIZE MARKET FORECASTS AND ANALYSIS
8.3. EXTRA SMALL AND SMALL (XS AND S)
8.3.1. Overview
8.3.2. Extra Small and Small (XS and S) Market Forecast and Analysis
8.4. MEDIUM (M)
8.4.1. Overview
8.4.2. Medium (M) Market Forecast and Analysis
8.5. LARGE (L)
8.5.1. Overview
8.5.2. Large (L) Market Forecast and Analysis
8.6. EXTRA LARGE (XL)
8.6.1. Overview
8.6.2. Extra Large (XL) Market Forecast and Analysis
9. BABY DIAPERS MARKET - REVENUE AND FORECASTS TO 2028 – DISTRIBUTION CHANNEL
9.1. OVERVIEW
9.2. DISTRIBUTION CHANNEL MARKET FORECASTS AND ANALYSIS
9.3. SUPERMARKETS AND HYPERMARKETS
9.3.1. Overview
9.3.2. Supermarkets and Hypermarkets Market Forecast and Analysis
9.4. SPECIALTY STORES
9.4.1. Overview
9.4.2. Specialty Stores Market Forecast and Analysis
9.5. ONLINE
9.5.1. Overview
9.5.2. Online Market Forecast and Analysis
9.6. OTHERS
9.6.1. Overview
9.6.2. Others Market Forecast and Analysis
10. BABY DIAPERS MARKET REVENUE AND FORECASTS TO 2028 – GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America Baby Diapers Market Overview
10.1.2 North America Baby Diapers Market Forecasts and Analysis
10.1.3 North America Baby Diapers Market Forecasts and Analysis - By Type
10.1.4 North America Baby Diapers Market Forecasts and Analysis - By Size
10.1.5 North America Baby Diapers Market Forecasts and Analysis - By Distribution Channel
10.1.6 North America Baby Diapers Market Forecasts and Analysis - By Countries
10.1.6.1 United States Baby Diapers Market
10.1.6.1.1 United States Baby Diapers Market by Type
10.1.6.1.2 United States Baby Diapers Market by Size
10.1.6.1.3 United States Baby Diapers Market by Distribution Channel
10.1.6.2 Canada Baby Diapers Market
10.1.6.2.1 Canada Baby Diapers Market by Type
10.1.6.2.2 Canada Baby Diapers Market by Size
10.1.6.2.3 Canada Baby Diapers Market by Distribution Channel
10.1.6.3 Mexico Baby Diapers Market
10.1.6.3.1 Mexico Baby Diapers Market by Type
10.1.6.3.2 Mexico Baby Diapers Market by Size
10.1.6.3.3 Mexico Baby Diapers Market by Distribution Channel
10.2. EUROPE
10.2.1 Europe Baby Diapers Market Overview
10.2.2 Europe Baby Diapers Market Forecasts and Analysis
10.2.3 Europe Baby Diapers Market Forecasts and Analysis - By Type
10.2.4 Europe Baby Diapers Market Forecasts and Analysis - By Size
10.2.5 Europe Baby Diapers Market Forecasts and Analysis - By Distribution Channel
10.2.6 Europe Baby Diapers Market Forecasts and Analysis - By Countries
10.2.6.1 Germany Baby Diapers Market
10.2.6.1.1 Germany Baby Diapers Market by Type
10.2.6.1.2 Germany Baby Diapers Market by Size
10.2.6.1.3 Germany Baby Diapers Market by Distribution Channel
10.2.6.2 France Baby Diapers Market
10.2.6.2.1 France Baby Diapers Market by Type
10.2.6.2.2 France Baby Diapers Market by Size
10.2.6.2.3 France Baby Diapers Market by Distribution Channel
10.2.6.3 Italy Baby Diapers Market
10.2.6.3.1 Italy Baby Diapers Market by Type
10.2.6.3.2 Italy Baby Diapers Market by Size
10.2.6.3.3 Italy Baby Diapers Market by Distribution Channel
10.2.6.4 United Kingdom Baby Diapers Market
10.2.6.4.1 United Kingdom Baby Diapers Market by Type
10.2.6.4.2 United Kingdom Baby Diapers Market by Size
10.2.6.4.3 United Kingdom Baby Diapers Market by Distribution Channel
10.2.6.5 Russia Baby Diapers Market
10.2.6.5.1 Russia Baby Diapers Market by Type
10.2.6.5.2 Russia Baby Diapers Market by Size
10.2.6.5.3 Russia Baby Diapers Market by Distribution Channel
10.2.6.6 Rest of Europe Baby Diapers Market
10.2.6.6.1 Rest of Europe Baby Diapers Market by Type
10.2.6.6.2 Rest of Europe Baby Diapers Market by Size
10.2.6.6.3 Rest of Europe Baby Diapers Market by Distribution Channel
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific Baby Diapers Market Overview
10.3.2 Asia-Pacific Baby Diapers Market Forecasts and Analysis
10.3.3 Asia-Pacific Baby Diapers Market Forecasts and Analysis - By Type
10.3.4 Asia-Pacific Baby Diapers Market Forecasts and Analysis - By Size
10.3.5 Asia-Pacific Baby Diapers Market Forecasts and Analysis - By Distribution Channel
10.3.6 Asia-Pacific Baby Diapers Market Forecasts and Analysis - By Countries
10.3.6.1 Australia Baby Diapers Market
10.3.6.1.1 Australia Baby Diapers Market by Type
10.3.6.1.2 Australia Baby Diapers Market by Size
10.3.6.1.3 Australia Baby Diapers Market by Distribution Channel
10.3.6.2 China Baby Diapers Market
10.3.6.2.1 China Baby Diapers Market by Type
10.3.6.2.2 China Baby Diapers Market by Size
10.3.6.2.3 China Baby Diapers Market by Distribution Channel
10.3.6.3 India Baby Diapers Market
10.3.6.3.1 India Baby Diapers Market by Type
10.3.6.3.2 India Baby Diapers Market by Size
10.3.6.3.3 India Baby Diapers Market by Distribution Channel
10.3.6.4 Japan Baby Diapers Market
10.3.6.4.1 Japan Baby Diapers Market by Type
10.3.6.4.2 Japan Baby Diapers Market by Size
10.3.6.4.3 Japan Baby Diapers Market by Distribution Channel
10.3.6.5 South Korea Baby Diapers Market
10.3.6.5.1 South Korea Baby Diapers Market by Type
10.3.6.5.2 South Korea Baby Diapers Market by Size
10.3.6.5.3 South Korea Baby Diapers Market by Distribution Channel
10.3.6.6 Rest of Asia-Pacific Baby Diapers Market
10.3.6.6.1 Rest of Asia-Pacific Baby Diapers Market by Type
10.3.6.6.2 Rest of Asia-Pacific Baby Diapers Market by Size
10.3.6.6.3 Rest of Asia-Pacific Baby Diapers Market by Distribution Channel
10.4. MIDDLE EAST AND AFRICA
10.4.1 Middle East and Africa Baby Diapers Market Overview
10.4.2 Middle East and Africa Baby Diapers Market Forecasts and Analysis
10.4.3 Middle East and Africa Baby Diapers Market Forecasts and Analysis - By Type
10.4.4 Middle East and Africa Baby Diapers Market Forecasts and Analysis - By Size
10.4.5 Middle East and Africa Baby Diapers Market Forecasts and Analysis - By Distribution Channel
10.4.6 Middle East and Africa Baby Diapers Market Forecasts and Analysis - By Countries
10.4.6.1 South Africa Baby Diapers Market
10.4.6.1.1 South Africa Baby Diapers Market by Type
10.4.6.1.2 South Africa Baby Diapers Market by Size
10.4.6.1.3 South Africa Baby Diapers Market by Distribution Channel
10.4.6.2 Saudi Arabia Baby Diapers Market
10.4.6.2.1 Saudi Arabia Baby Diapers Market by Type
10.4.6.2.2 Saudi Arabia Baby Diapers Market by Size
10.4.6.2.3 Saudi Arabia Baby Diapers Market by Distribution Channel
10.4.6.3 U.A.E Baby Diapers Market
10.4.6.3.1 U.A.E Baby Diapers Market by Type
10.4.6.3.2 U.A.E Baby Diapers Market by Size
10.4.6.3.3 U.A.E Baby Diapers Market by Distribution Channel
10.4.6.4 Rest of Middle East and Africa Baby Diapers Market
10.4.6.4.1 Rest of Middle East and Africa Baby Diapers Market by Type
10.4.6.4.2 Rest of Middle East and Africa Baby Diapers Market by Size
10.4.6.4.3 Rest of Middle East and Africa Baby Diapers Market by Distribution Channel
10.5. SOUTH AND CENTRAL AMERICA
10.5.1 South and Central America Baby Diapers Market Overview
10.5.2 South and Central America Baby Diapers Market Forecasts and Analysis
10.5.3 South and Central America Baby Diapers Market Forecasts and Analysis - By Type
10.5.4 South and Central America Baby Diapers Market Forecasts and Analysis - By Size
10.5.5 South and Central America Baby Diapers Market Forecasts and Analysis - By Distribution Channel
10.5.6 South and Central America Baby Diapers Market Forecasts and Analysis - By Countries
10.5.6.1 Brazil Baby Diapers Market
10.5.6.1.1 Brazil Baby Diapers Market by Type
10.5.6.1.2 Brazil Baby Diapers Market by Size
10.5.6.1.3 Brazil Baby Diapers Market by Distribution Channel
10.5.6.2 Argentina Baby Diapers Market
10.5.6.2.1 Argentina Baby Diapers Market by Type
10.5.6.2.2 Argentina Baby Diapers Market by Size
10.5.6.2.3 Argentina Baby Diapers Market by Distribution Channel
10.5.6.3 Rest of South and Central America Baby Diapers Market
10.5.6.3.1 Rest of South and Central America Baby Diapers Market by Type
10.5.6.3.2 Rest of South and Central America Baby Diapers Market by Size
10.5.6.3.3 Rest of South and Central America Baby Diapers Market by Distribution Channel
11. IMPACT OF COVID-19 PANDEMIC ON GLOBAL BABY DIAPERS MARKET
11.1 North America
11.2 Europe
11.3 Asia-Pacific
11.4 Middle East and Africa
11.5 South and Central America
12. INDUSTRY LANDSCAPE
12.1. MERGERS AND ACQUISITIONS
12.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
12.3. NEW PRODUCT LAUNCHES
12.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
13. BABY DIAPERS MARKET, KEY COMPANY PROFILES
13.1. BUMKINS FINER BABY PRODUCTS INC.
13.1.1. Key Facts
13.1.2. Business Description
13.1.3. Products and Services
13.1.4. Financial Overview
13.1.5. SWOT Analysis
13.1.6. Key Developments
13.2. FINE HYGIENIC HOLDING
13.2.1. Key Facts
13.2.2. Business Description
13.2.3. Products and Services
13.2.4. Financial Overview
13.2.5. SWOT Analysis
13.2.6. Key Developments
13.3. JOHNSON AND JOHNSON
13.3.1. Key Facts
13.3.2. Business Description
13.3.3. Products and Services
13.3.4. Financial Overview
13.3.5. SWOT Analysis
13.3.6. Key Developments
13.4. KIMBERLY-CLARK CORPORATION
13.4.1. Key Facts
13.4.2. Business Description
13.4.3. Products and Services
13.4.4. Financial Overview
13.4.5. SWOT Analysis
13.4.6. Key Developments
13.5. DOMTAR CORPORATION
13.5.1. Key Facts
13.5.2. Business Description
13.5.3. Products and Services
13.5.4. Financial Overview
13.5.5. SWOT Analysis
13.5.6. Key Developments
13.6. ONTEX BV
13.6.1. Key Facts
13.6.2. Business Description
13.6.3. Products and Services
13.6.4. Financial Overview
13.6.5. SWOT Analysis
13.6.6. Key Developments
13.7. PROCTER AND GAMBLE
13.7.1. Key Facts
13.7.2. Business Description
13.7.3. Products and Services
13.7.4. Financial Overview
13.7.5. SWOT Analysis
13.7.6. Key Developments
13.8. HENGAN INTERNATIONAL GROUP COMPANY LIMITED
13.8.1. Key Facts
13.8.2. Business Description
13.8.3. Products and Services
13.8.4. Financial Overview
13.8.5. SWOT Analysis
13.8.6. Key Developments
13.9. QUESHI (FUJIAN) INDUSTRIAL DEVELOPMENT CO., LTD.
13.9.1. Key Facts
13.9.2. Business Description
13.9.3. Products and Services
13.9.4. Financial Overview
13.9.5. SWOT Analysis
13.9.6. Key Developments
13.10. KAO CORPORATION
13.10.1. Key Facts
13.10.2. Business Description
13.10.3. Products and Services
13.10.4. Financial Overview
13.10.5. SWOT Analysis
13.10.6. Key Developments
14. APPENDIX
14.1. ABOUT THE INSIGHT PARTNERS
14.2. GLOSSARY OF TERMS
The List of Companies
- Bambi (INDEVCO)
- Fine Hygienic Holding
- Johnson and Johnson
- Kimberly-Clark Corporation
- Molfix
- Ontex BV
- Procter and Gamble
- PureBorn
- Queshi (Fujian) Industrial Development Co., Ltd.
- Unicharm Corporation
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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