Bath Salts Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis
Bath salts are salt minerals added to the bathing water. The use of bath salts is widely believed to restore, protect, and maintain body equilibrium. Bath salts are used for managing muscle pain, exfoliation of the skin, stress relief, and detoxifying the body. Bath salts may be composed of additives and ingredients such as glycerin, essential oils, emollients, lubricants, and humectants, to name a few. They are increasingly used to treat skin ailments, dry skin, psoriasis, acne, and other conditions across the world.
MARKET DYNAMICS
Bath salts are relatively inexpensive compared to spa treatments and are gradually gaining popularity among women in the age group of 16 to 35 years. They are increasingly consumed for their health benefits such as balancing moisture levels in the skin, promoting glowing and youthful skin, and treating acne. The numerous benefits of bath salts and recommendation of bath salts by dermatologists and skin experts are anticipated to drive the bath salts market. Bath salts have been used since ancient times; however, in recent times, the influence of social media has created significant awareness about bath salts among consumers. The widely regarded belief that bathing in saltwater calms the mind and relieves stress is likely to generate considerable attention from young people who lead busy and hectic lives. The increasing consumer spending on destressing remedies is anticipated to allure consumers towards bath salts. Moreover, innovations in bath salt products and the introduction of bath salts with new fragrances are likely to drive the demand for bath salts in the forecast period.
MARKET SCOPE
The "Global Bath Salts Market Analysis to 2028" is a specialized and in-depth study of the chemicals and materials industry with a special focus on the global market trend analysis. The report aims to provide an overview of the bath salts market with detailed market segmentation by form, product type, distribution channel, and geography. The global bath salts market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading bath salts market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
The global bath salts market is segmented on the basis of form, product type, and distribution channel. On the basis of form, the bath salts market is segmented into, coarse, medium, and fine. On the basis of product type, the market is bifurcated into, dendritic salt, dead sea salt, epsom salt, bolivian salt, himalayan salt, and others. Based on distribution channel, the global bath salts market is segmented into, supermarkets and hypermarkets, specialty stores, and online.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global bath salts market based on various segments. It also provides market size and forecast estimates from the year 2020 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America. The bath salts market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the bath salts market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the bath salts market in these regions.
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The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global bath salts market based on various segments. It also provides market size and forecast estimates from the year 2020 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America. The bath salts market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the bath salts market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the bath salts market in these regions.
MARKET PLAYERS
The reports cover key developments in the bath salts market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from bath salts market are anticipated to lucrative growth opportunities in the future with the rising demand for bath salts in the global market. Below mentioned is the list of few companies engaged in the bath salts market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the bath salts market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- Bathclin Corporation
- Borghese Inc.
- Dadakarides Salt SA
- Kneipp GmbH
- L'Occitane International SA
- Nesalla Bath Salt
- Parfums de Coeur, Ltd.
- San Francisco Salt Company
- Shanghai Jahwa United Co. Ltd.
- Shiseido Company Limited
- STENDERS SIA
The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.
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- Request discounts available for Start-Ups & Universities
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Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
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Segment Covered
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Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
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Country Scope
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1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Bath Salts Market - By Form
1.3.2 Bath Salts Market - By Product Type
1.3.3 Bath Salts Market - By Distribution Channel
1.3.4 Bath Salts Market - By Region
1.3.4.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. BATH SALTS 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. BATH SALTS 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, RESTRAINTS & EXPECTED INFLUENCE OF COVID-19 PANDEMIC
6. BATH SALTS MARKET - GLOBAL MARKET ANALYSIS
6.1. BATH SALTS - GLOBAL MARKET OVERVIEW
6.2. BATH SALTS - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. BATH SALTS MARKET - REVENUE AND FORECASTS TO 2028 - FORM
7.1. OVERVIEW
7.2. FORM MARKET FORECASTS AND ANALYSIS
7.3. COARSE
7.3.1. Overview
7.3.2. Coarse Market Forecast and Analysis
7.4. MEDIUM
7.4.1. Overview
7.4.2. Medium Market Forecast and Analysis
7.5. FINE
7.5.1. Overview
7.5.2. Fine Market Forecast and Analysis
8. BATH SALTS MARKET - REVENUE AND FORECASTS TO 2028 - PRODUCT TYPE
8.1. OVERVIEW
8.2. PRODUCT TYPE MARKET FORECASTS AND ANALYSIS
8.3. DENDRITIC SALT
8.3.1. Overview
8.3.2. Dendritic Salt Market Forecast and Analysis
8.4. DEAD SEA SALT
8.4.1. Overview
8.4.2. Dead Sea Salt Market Forecast and Analysis
8.5. EPSOM SALT
8.5.1. Overview
8.5.2. Epsom Salt Market Forecast and Analysis
8.6. BOLIVIAN SALT
8.6.1. Overview
8.6.2. Bolivian Salt Market Forecast and Analysis
8.7. HIMALAYAN SALT
8.7.1. Overview
8.7.2. Himalayan Salt Market Forecast and Analysis
8.8. OTHERS
8.8.1. Overview
8.8.2. Others Market Forecast and Analysis
9. BATH SALTS 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
10. BATH SALTS MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America Bath Salts Market Overview
10.1.2 North America Bath Salts Market Forecasts and Analysis
10.1.3 North America Bath Salts Market Forecasts and Analysis - By Form
10.1.4 North America Bath Salts Market Forecasts and Analysis - By Product Type
10.1.5 North America Bath Salts Market Forecasts and Analysis - By Distribution Channel
10.1.6 North America Bath Salts Market Forecasts and Analysis - By Countries
10.1.6.1 United States Bath Salts Market
10.1.6.1.1 United States Bath Salts Market by Form
10.1.6.1.2 United States Bath Salts Market by Product Type
10.1.6.1.3 United States Bath Salts Market by Distribution Channel
10.1.6.2 Canada Bath Salts Market
10.1.6.2.1 Canada Bath Salts Market by Form
10.1.6.2.2 Canada Bath Salts Market by Product Type
10.1.6.2.3 Canada Bath Salts Market by Distribution Channel
10.1.6.3 Mexico Bath Salts Market
10.1.6.3.1 Mexico Bath Salts Market by Form
10.1.6.3.2 Mexico Bath Salts Market by Product Type
10.1.6.3.3 Mexico Bath Salts Market by Distribution Channel
10.2. EUROPE
10.2.1 Europe Bath Salts Market Overview
10.2.2 Europe Bath Salts Market Forecasts and Analysis
10.2.3 Europe Bath Salts Market Forecasts and Analysis - By Form
10.2.4 Europe Bath Salts Market Forecasts and Analysis - By Product Type
10.2.5 Europe Bath Salts Market Forecasts and Analysis - By Distribution Channel
10.2.6 Europe Bath Salts Market Forecasts and Analysis - By Countries
10.2.6.1 Germany Bath Salts Market
10.2.6.1.1 Germany Bath Salts Market by Form
10.2.6.1.2 Germany Bath Salts Market by Product Type
10.2.6.1.3 Germany Bath Salts Market by Distribution Channel
10.2.6.2 France Bath Salts Market
10.2.6.2.1 France Bath Salts Market by Form
10.2.6.2.2 France Bath Salts Market by Product Type
10.2.6.2.3 France Bath Salts Market by Distribution Channel
10.2.6.3 Italy Bath Salts Market
10.2.6.3.1 Italy Bath Salts Market by Form
10.2.6.3.2 Italy Bath Salts Market by Product Type
10.2.6.3.3 Italy Bath Salts Market by Distribution Channel
10.2.6.4 United Kingdom Bath Salts Market
10.2.6.4.1 United Kingdom Bath Salts Market by Form
10.2.6.4.2 United Kingdom Bath Salts Market by Product Type
10.2.6.4.3 United Kingdom Bath Salts Market by Distribution Channel
10.2.6.5 Russia Bath Salts Market
10.2.6.5.1 Russia Bath Salts Market by Form
10.2.6.5.2 Russia Bath Salts Market by Product Type
10.2.6.5.3 Russia Bath Salts Market by Distribution Channel
10.2.6.6 Rest of Europe Bath Salts Market
10.2.6.6.1 Rest of Europe Bath Salts Market by Form
10.2.6.6.2 Rest of Europe Bath Salts Market by Product Type
10.2.6.6.3 Rest of Europe Bath Salts Market by Distribution Channel
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific Bath Salts Market Overview
10.3.2 Asia-Pacific Bath Salts Market Forecasts and Analysis
10.3.3 Asia-Pacific Bath Salts Market Forecasts and Analysis - By Form
10.3.4 Asia-Pacific Bath Salts Market Forecasts and Analysis - By Product Type
10.3.5 Asia-Pacific Bath Salts Market Forecasts and Analysis - By Distribution Channel
10.3.6 Asia-Pacific Bath Salts Market Forecasts and Analysis - By Countries
10.3.6.1 Australia Bath Salts Market
10.3.6.1.1 Australia Bath Salts Market by Form
10.3.6.1.2 Australia Bath Salts Market by Product Type
10.3.6.1.3 Australia Bath Salts Market by Distribution Channel
10.3.6.2 China Bath Salts Market
10.3.6.2.1 China Bath Salts Market by Form
10.3.6.2.2 China Bath Salts Market by Product Type
10.3.6.2.3 China Bath Salts Market by Distribution Channel
10.3.6.3 India Bath Salts Market
10.3.6.3.1 India Bath Salts Market by Form
10.3.6.3.2 India Bath Salts Market by Product Type
10.3.6.3.3 India Bath Salts Market by Distribution Channel
10.3.6.4 Japan Bath Salts Market
10.3.6.4.1 Japan Bath Salts Market by Form
10.3.6.4.2 Japan Bath Salts Market by Product Type
10.3.6.4.3 Japan Bath Salts Market by Distribution Channel
10.3.6.5 South Korea Bath Salts Market
10.3.6.5.1 South Korea Bath Salts Market by Form
10.3.6.5.2 South Korea Bath Salts Market by Product Type
10.3.6.5.3 South Korea Bath Salts Market by Distribution Channel
10.3.6.6 Rest of Asia-Pacific Bath Salts Market
10.3.6.6.1 Rest of Asia-Pacific Bath Salts Market by Form
10.3.6.6.2 Rest of Asia-Pacific Bath Salts Market by Product Type
10.3.6.6.3 Rest of Asia-Pacific Bath Salts Market by Distribution Channel
10.4. MIDDLE EAST AND AFRICA
10.4.1 Middle East and Africa Bath Salts Market Overview
10.4.2 Middle East and Africa Bath Salts Market Forecasts and Analysis
10.4.3 Middle East and Africa Bath Salts Market Forecasts and Analysis - By Form
10.4.4 Middle East and Africa Bath Salts Market Forecasts and Analysis - By Product Type
10.4.5 Middle East and Africa Bath Salts Market Forecasts and Analysis - By Distribution Channel
10.4.6 Middle East and Africa Bath Salts Market Forecasts and Analysis - By Countries
10.4.6.1 South Africa Bath Salts Market
10.4.6.1.1 South Africa Bath Salts Market by Form
10.4.6.1.2 South Africa Bath Salts Market by Product Type
10.4.6.1.3 South Africa Bath Salts Market by Distribution Channel
10.4.6.2 Saudi Arabia Bath Salts Market
10.4.6.2.1 Saudi Arabia Bath Salts Market by Form
10.4.6.2.2 Saudi Arabia Bath Salts Market by Product Type
10.4.6.2.3 Saudi Arabia Bath Salts Market by Distribution Channel
10.4.6.3 U.A.E Bath Salts Market
10.4.6.3.1 U.A.E Bath Salts Market by Form
10.4.6.3.2 U.A.E Bath Salts Market by Product Type
10.4.6.3.3 U.A.E Bath Salts Market by Distribution Channel
10.4.6.4 Rest of Middle East and Africa Bath Salts Market
10.4.6.4.1 Rest of Middle East and Africa Bath Salts Market by Form
10.4.6.4.2 Rest of Middle East and Africa Bath Salts Market by Product Type
10.4.6.4.3 Rest of Middle East and Africa Bath Salts Market by Distribution Channel
10.5. SOUTH AND CENTRAL AMERICA
10.5.1 South and Central America Bath Salts Market Overview
10.5.2 South and Central America Bath Salts Market Forecasts and Analysis
10.5.3 South and Central America Bath Salts Market Forecasts and Analysis - By Form
10.5.4 South and Central America Bath Salts Market Forecasts and Analysis - By Product Type
10.5.5 South and Central America Bath Salts Market Forecasts and Analysis - By Distribution Channel
10.5.6 South and Central America Bath Salts Market Forecasts and Analysis - By Countries
10.5.6.1 Brazil Bath Salts Market
10.5.6.1.1 Brazil Bath Salts Market by Form
10.5.6.1.2 Brazil Bath Salts Market by Product Type
10.5.6.1.3 Brazil Bath Salts Market by Distribution Channel
10.5.6.2 Argentina Bath Salts Market
10.5.6.2.1 Argentina Bath Salts Market by Form
10.5.6.2.2 Argentina Bath Salts Market by Product Type
10.5.6.2.3 Argentina Bath Salts Market by Distribution Channel
10.5.6.3 Rest of South and Central America Bath Salts Market
10.5.6.3.1 Rest of South and Central America Bath Salts Market by Form
10.5.6.3.2 Rest of South and Central America Bath Salts Market by Product Type
10.5.6.3.3 Rest of South and Central America Bath Salts Market by Distribution Channel
11. INDUSTRY LANDSCAPE
11.1. MERGERS AND ACQUISITIONS
11.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
11.3. NEW PRODUCT LAUNCHES
11.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
12. BATH SALTS MARKET, KEY COMPANY PROFILES
12.1. BATHCLIN CORPORATION
12.1.1. Key Facts
12.1.2. Business Description
12.1.3. Products and Services
12.1.4. Financial Overview
12.1.5. SWOT Analysis
12.1.6. Key Developments
12.2. BORGHESE INC.
12.2.1. Key Facts
12.2.2. Business Description
12.2.3. Products and Services
12.2.4. Financial Overview
12.2.5. SWOT Analysis
12.2.6. Key Developments
12.3. DADAKARIDES SALT SA
12.3.1. Key Facts
12.3.2. Business Description
12.3.3. Products and Services
12.3.4. Financial Overview
12.3.5. SWOT Analysis
12.3.6. Key Developments
12.4. KNEIPP GMBH
12.4.1. Key Facts
12.4.2. Business Description
12.4.3. Products and Services
12.4.4. Financial Overview
12.4.5. SWOT Analysis
12.4.6. Key Developments
12.5. L'OCCITANE INTERNATIONAL SA
12.5.1. Key Facts
12.5.2. Business Description
12.5.3. Products and Services
12.5.4. Financial Overview
12.5.5. SWOT Analysis
12.5.6. Key Developments
12.6. NESALLA BATH SALT
12.6.1. Key Facts
12.6.2. Business Description
12.6.3. Products and Services
12.6.4. Financial Overview
12.6.5. SWOT Analysis
12.6.6. Key Developments
12.7. PARFUMS DE COEUR, LTD.
12.7.1. Key Facts
12.7.2. Business Description
12.7.3. Products and Services
12.7.4. Financial Overview
12.7.5. SWOT Analysis
12.7.6. Key Developments
12.8. SAN FRANCISCO SALT COMPANY
12.8.1. Key Facts
12.8.2. Business Description
12.8.3. Products and Services
12.8.4. Financial Overview
12.8.5. SWOT Analysis
12.8.6. Key Developments
12.9. SHANGHAI JAHWA UNITED CO. LTD.
12.9.1. Key Facts
12.9.2. Business Description
12.9.3. Products and Services
12.9.4. Financial Overview
12.9.5. SWOT Analysis
12.9.6. Key Developments
12.10. SHISEIDO COMPANY LIMITED
12.10.1. Key Facts
12.10.2. Business Description
12.10.3. Products and Services
12.10.4. Financial Overview
12.10.5. SWOT Analysis
12.10.6. Key Developments
12.11. STENDERS SIA
12.11.1. Key Facts
12.11.2. Business Description
12.11.3. Products and Services
12.11.4. Financial Overview
12.11.5. SWOT Analysis
12.11.6. Key Developments
13. APPENDIX
13.1. ABOUT THE INSIGHT PARTNERS
13.2. GLOSSARY OF TERMS
1. Bathclin Corporation
2. Borghese Inc.
3. Dadakarides Salt SA
4. Kneipp GmbH
5. L'Occitane International SA
6. Nesalla Bath Salt
7. Parfums de Coeur, Ltd.
8. San Francisco Salt Company
9. Shanghai Jahwa United Co. Ltd.
10. Shiseido Company Limited
11. STENDERS SIA
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.