Biodegradable Films Market Size and CAGR by 2031
The Biodegradable Films Market is expected to register a CAGR of 7% from 2024 to 2031, with a market size expanding from US$ XX million in 2024 to US$ XX Million by 2031.
The report presents analysis based on material (PLA, PHA, starch based, and others). The report is segmented by end use (food packaging, agriculture and horticulture, cosmetic and personal care products packaging, industrial packaging, 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 Biodegradable Films 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.
Biodegradable Films Market Segmentation
Material- PLA
- PHA
- Starch based
- Food Packaging
- Agriculture and Horticulture
- Cosmetic and Personal Care Products Packaging
- Industrial Packaging
Strategic Insights
Biodegradable Films Market Growth Drivers- Growing Demand for Sustainable Packaging Solutions: The increasing demand for eco-friendly and sustainable packaging is driving the growth of the biodegradable films market. Consumers and businesses are shifting away from single-use plastics due to environmental concerns. Biodegradable films made from natural polymers such as starch, cellulose, and PLA (polylactic acid) offer a sustainable alternative for packaging in industries like food and beverages, cosmetics, and pharmaceuticals.
- Strict Government Regulations on Plastic Waste: Stringent regulations aimed at reducing plastic waste are accelerating the adoption of biodegradable films. Governments worldwide are implementing bans and restrictions on plastic bags and other single-use plastic products, urging industries to adopt more sustainable alternatives. This regulatory push is driving the demand for biodegradable films that break down naturally in the environment, offering a more eco-friendly solution to plastic waste management.
- Rising Consumer Awareness of Environmental Impact: As awareness about environmental issues, particularly plastic pollution, continues to rise, consumers are increasingly seeking sustainable alternatives to plastic products. This shift in consumer preferences is leading to higher demand for biodegradable films, especially in packaging applications. Eco-conscious consumers are willing to pay a premium for products that use biodegradable films, further driving the market.
- Advancements in Biodegradable Film Technology: The development of more efficient and cost-effective biodegradable film technologies is a key trend in the market. Research is focused on improving the mechanical strength, durability, and processing capabilities of biodegradable films while maintaining their environmental benefits. Innovations in materials, such as the use of plant-based polymers, are enhancing the performance of biodegradable films and expanding their applicability across industries.
- Integration with Circular Economy Models: Biodegradable films are increasingly being integrated into circular economy models, where the focus is on reducing waste and promoting recycling and reuse. The adoption of biodegradable films in industries such as packaging, agriculture, and textiles is helping create closed-loop systems that minimize waste and environmental impact. This trend is expected to gain momentum as more companies and industries embrace sustainable practices.
- Growth in E-Commerce and Online Retail Packaging: The rapid growth of e-commerce and online retail is driving the demand for biodegradable films in packaging applications. As online shopping continues to increase, there is a growing need for sustainable packaging solutions to minimize the environmental impact of shipping materials. Biodegradable films offer an attractive alternative to traditional plastic packaging in the e-commerce industry, which is expected to boost the market.
- Growing Opportunities in Emerging Markets: Emerging markets, especially in Asia-Pacific, Latin America, and Africa, offer significant growth opportunities for the biodegradable films market. As these regions industrialize and urbanize, there is a growing demand for sustainable packaging solutions. The adoption of biodegradable films in emerging economies is expected to accelerate due to rising consumer awareness and the increasing adoption of eco-friendly policies by governments and businesses.
- Expansion in the Agricultural Sector: The agricultural sector is presenting new opportunities for biodegradable films, particularly for applications like mulch films and packaging for fresh produce. Biodegradable films can be used to reduce plastic pollution in agriculture, offering an environmentally friendly alternative to traditional plastic films. As sustainable farming practices gain traction, the demand for biodegradable agricultural films is expected to increase, providing a significant market opportunity.
- Research and Development for New Biodegradable Materials: Ongoing research and development in biodegradable materials are creating new opportunities for the market. The development of new polymers and bio-based materials with enhanced properties such as improved flexibility, water resistance, and barrier performance is expanding the applications of biodegradable films. These innovations are expected to improve the adoption of biodegradable films across industries such as packaging, textiles, and medical applications.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Biodegradable Films 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 Biodegradable Films 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
Have a question?
Shejal
Shejal will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.
Speak to Analyst
- 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.
Frequently Asked Questions
The increased use of biodegradable films in flexible packaging is expected to be the key market trends.
The rising adoption of biodegradable films in the food packaging sector is driving the market growth.
BASF SE; Kingfa SCI. and TECH. CO., LTD.; Mondi; Tilak Polypack Pvt. Ltd; Easy Flux; WRAPEX; HUBEI HYF PACKAGING CO., LTD.; Cortec Corporation; Sontex (Machinery) Ltd.; and Film Source International are some of the key players operating in the biodegradable films market
Based on material, the PLA segment is expected to witness the fastest growth during the forecast period
Based on geography, Asia Pacific held the largest share of the biodegradable films market due to the stringent environmental regulations, a strong emphasis on sustainability, and the presence of key industry players investing in eco-friendly solutions.
The Biodegradable Films Market is estimated to witness a CAGR of 7% from 2023 to 2031
101. INTRODUCTION
1. 1. SCOPE OF THE STUDY
1. 2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1. 3. MARKET SEGMENTATION
1. 3. 1 Biodegradable Films Market - By Material
1. 3. 2 Biodegradable Films Market - By End Use
1. 3. 3 Biodegradable Films Market - By Region
1. 3. 3. 1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. BIODEGRADABLE FILMS MARKET LANDSCAPE
4. 1. OVERVIEW
4. 2. PORTER'S FIVE FORCES ANALYSIS
4. 2. 1 Bargaining Power of Buyers
4. 2. 1 Bargaining Power of Suppliers
4. 2. 1 Threat of Substitute
4. 2. 1 Threat of New Entrants
4. 2. 1 Competitive Rivalry
4. 3. EXPERT OPINIONS
5. BIODEGRADABLE FILMS 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. BIODEGRADABLE FILMS MARKET - GLOBAL MARKET ANALYSIS
6. 1. BIODEGRADABLE FILMS - GLOBAL MARKET OVERVIEW
6. 2. BIODEGRADABLE FILMS - GLOBAL MARKET AND FORECAST TO 2028
6. 3. MARKET POSITIONING
7. BIODEGRADABLE FILMS MARKET - REVENUE AND FORECASTS TO 2028 - MATERIAL
7. 1. OVERVIEW
7. 2. MATERIAL MARKET FORECASTS AND ANALYSIS
7. 3. PLA
7. 3. 1. Overview
7. 3. 2. PLA Market Forecast and Analysis
7. 4. PHA
7. 4. 1. Overview
7. 4. 2. PHA Market Forecast and Analysis
7. 5. STARCH BASED
7. 5. 1. Overview
7. 5. 2. Starch based Market Forecast and Analysis
7. 6. OTHERS
7. 6. 1. Overview
7. 6. 2. Others Market Forecast and Analysis
8. BIODEGRADABLE FILMS MARKET - REVENUE AND FORECASTS TO 2028 - END USE
8. 1. OVERVIEW
8. 2. END USE MARKET FORECASTS AND ANALYSIS
8. 3. FOOD PACKAGING
8. 3. 1. Overview
8. 3. 2. Food Packaging Market Forecast and Analysis
8. 4. AGRICULTURE AND HORTICULTURE
8. 4. 1. Overview
8. 4. 2. Agriculture and Horticulture Market Forecast and Analysis
8. 5. COSMETIC AND PERSONAL CARE PRODUCTS PACKAGING
8. 5. 1. Overview
8. 5. 2. Cosmetic and Personal Care Products Packaging Market Forecast and Analysis
8. 6. INDUSTRIAL PACKAGING
8. 6. 1. Overview
8. 6. 2. Industrial Packaging Market Forecast and Analysis
8. 7. OTHERS
8. 7. 1. Overview
8. 7. 2. Others Market Forecast and Analysis
9. BIODEGRADABLE FILMS MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
9. 1. NORTH AMERICA
9. 1. 1 North America Biodegradable Films Market Overview
9. 1. 2 North America Biodegradable Films Market Forecasts and Analysis
9. 1. 3 North America Biodegradable Films Market Forecasts and Analysis - By Material
9. 1. 4 North America Biodegradable Films Market Forecasts and Analysis - By End Use
9. 1. 5 North America Biodegradable Films Market Forecasts and Analysis - By Countries
9. 1. 5. 1 United States Biodegradable Films Market
9. 1. 5. 1. 1 United States Biodegradable Films Market by Material
9. 1. 5. 1. 2 United States Biodegradable Films Market by End Use
9. 1. 5. 2 Canada Biodegradable Films Market
9. 1. 5. 2. 1 Canada Biodegradable Films Market by Material
9. 1. 5. 2. 2 Canada Biodegradable Films Market by End Use
9. 1. 5. 3 Mexico Biodegradable Films Market
9. 1. 5. 3. 1 Mexico Biodegradable Films Market by Material
9. 1. 5. 3. 2 Mexico Biodegradable Films Market by End Use
9. 2. EUROPE
9. 2. 1 Europe Biodegradable Films Market Overview
9. 2. 2 Europe Biodegradable Films Market Forecasts and Analysis
9. 2. 3 Europe Biodegradable Films Market Forecasts and Analysis - By Material
9. 2. 4 Europe Biodegradable Films Market Forecasts and Analysis - By End Use
9. 2. 5 Europe Biodegradable Films Market Forecasts and Analysis - By Countries
9. 2. 5. 1 Germany Biodegradable Films Market
9. 2. 5. 1. 1 Germany Biodegradable Films Market by Material
9. 2. 5. 1. 2 Germany Biodegradable Films Market by End Use
9. 2. 5. 2 France Biodegradable Films Market
9. 2. 5. 2. 1 France Biodegradable Films Market by Material
9. 2. 5. 2. 2 France Biodegradable Films Market by End Use
9. 2. 5. 3 Italy Biodegradable Films Market
9. 2. 5. 3. 1 Italy Biodegradable Films Market by Material
9. 2. 5. 3. 2 Italy Biodegradable Films Market by End Use
9. 2. 5. 4 United Kingdom Biodegradable Films Market
9. 2. 5. 4. 1 United Kingdom Biodegradable Films Market by Material
9. 2. 5. 4. 2 United Kingdom Biodegradable Films Market by End Use
9. 2. 5. 5 Russia Biodegradable Films Market
9. 2. 5. 5. 1 Russia Biodegradable Films Market by Material
9. 2. 5. 5. 2 Russia Biodegradable Films Market by End Use
9. 2. 5. 6 Rest of Europe Biodegradable Films Market
9. 2. 5. 6. 1 Rest of Europe Biodegradable Films Market by Material
9. 2. 5. 6. 2 Rest of Europe Biodegradable Films Market by End Use
9. 3. ASIA-PACIFIC
9. 3. 1 Asia-Pacific Biodegradable Films Market Overview
9. 3. 2 Asia-Pacific Biodegradable Films Market Forecasts and Analysis
9. 3. 3 Asia-Pacific Biodegradable Films Market Forecasts and Analysis - By Material
9. 3. 4 Asia-Pacific Biodegradable Films Market Forecasts and Analysis - By End Use
9. 3. 5 Asia-Pacific Biodegradable Films Market Forecasts and Analysis - By Countries
9. 3. 5. 1 Australia Biodegradable Films Market
9. 3. 5. 1. 1 Australia Biodegradable Films Market by Material
9. 3. 5. 1. 2 Australia Biodegradable Films Market by End Use
9. 3. 5. 2 China Biodegradable Films Market
9. 3. 5. 2. 1 China Biodegradable Films Market by Material
9. 3. 5. 2. 2 China Biodegradable Films Market by End Use
9. 3. 5. 3 India Biodegradable Films Market
9. 3. 5. 3. 1 India Biodegradable Films Market by Material
9. 3. 5. 3. 2 India Biodegradable Films Market by End Use
9. 3. 5. 4 Japan Biodegradable Films Market
9. 3. 5. 4. 1 Japan Biodegradable Films Market by Material
9. 3. 5. 4. 2 Japan Biodegradable Films Market by End Use
9. 3. 5. 5 South Korea Biodegradable Films Market
9. 3. 5. 5. 1 South Korea Biodegradable Films Market by Material
9. 3. 5. 5. 2 South Korea Biodegradable Films Market by End Use
9. 3. 5. 6 Rest of Asia-Pacific Biodegradable Films Market
9. 3. 5. 6. 1 Rest of Asia-Pacific Biodegradable Films Market by Material
9. 3. 5. 6. 2 Rest of Asia-Pacific Biodegradable Films Market by End Use
9. 4. MIDDLE EAST AND AFRICA
9. 4. 1 Middle East and Africa Biodegradable Films Market Overview
9. 4. 2 Middle East and Africa Biodegradable Films Market Forecasts and Analysis
9. 4. 3 Middle East and Africa Biodegradable Films Market Forecasts and Analysis - By Material
9. 4. 4 Middle East and Africa Biodegradable Films Market Forecasts and Analysis - By End Use
9. 4. 5 Middle East and Africa Biodegradable Films Market Forecasts and Analysis - By Countries
9. 4. 5. 1 South Africa Biodegradable Films Market
9. 4. 5. 1. 1 South Africa Biodegradable Films Market by Material
9. 4. 5. 1. 2 South Africa Biodegradable Films Market by End Use
9. 4. 5. 2 Saudi Arabia Biodegradable Films Market
9. 4. 5. 2. 1 Saudi Arabia Biodegradable Films Market by Material
9. 4. 5. 2. 2 Saudi Arabia Biodegradable Films Market by End Use
9. 4. 5. 3 U. A. E Biodegradable Films Market
9. 4. 5. 3. 1 U. A. E Biodegradable Films Market by Material
9. 4. 5. 3. 2 U. A. E Biodegradable Films Market by End Use
9. 4. 5. 4 Rest of Middle East and Africa Biodegradable Films Market
9. 4. 5. 4. 1 Rest of Middle East and Africa Biodegradable Films Market by Material
9. 4. 5. 4. 2 Rest of Middle East and Africa Biodegradable Films Market by End Use
9. 5. SOUTH AND CENTRAL AMERICA
9. 5. 1 South and Central America Biodegradable Films Market Overview
9. 5. 2 South and Central America Biodegradable Films Market Forecasts and Analysis
9. 5. 3 South and Central America Biodegradable Films Market Forecasts and Analysis - By Material
9. 5. 4 South and Central America Biodegradable Films Market Forecasts and Analysis - By End Use
9. 5. 5 South and Central America Biodegradable Films Market Forecasts and Analysis - By Countries
9. 5. 5. 1 Brazil Biodegradable Films Market
9. 5. 5. 1. 1 Brazil Biodegradable Films Market by Material
9. 5. 5. 1. 2 Brazil Biodegradable Films Market by End Use
9. 5. 5. 2 Argentina Biodegradable Films Market
9. 5. 5. 2. 1 Argentina Biodegradable Films Market by Material
9. 5. 5. 2. 2 Argentina Biodegradable Films Market by End Use
9. 5. 5. 3 Rest of South and Central America Biodegradable Films Market
9. 5. 5. 3. 1 Rest of South and Central America Biodegradable Films Market by Material
9. 5. 5. 3. 2 Rest of South and Central America Biodegradable Films Market by End Use
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. BIODEGRADABLE FILMS MARKET, KEY COMPANY PROFILES
11. 1. BASF SE
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. KINGFA SCI. AND TECH. CO. , LTD.
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. MONDI
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. TILAK POLYPACK PVT. 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. EASY FLUX
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. WRAPEX
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. HUBEI HYF PACKAGING CO. , LTD.
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. CORTEC CORPORATION
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. SONTEX (MACHINERY) LTD.
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. FILM SOURCE INTERNATIONAL
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
The List Of Companies
- BASF SE
- Kingfa SCI. and TECH. CO. , LTD.
- Mondi
- Tilak Polypack Pvt. Ltd
- Easy Flux
- WRAPEX
- HUBEI HYF PACKAGING CO. , LTD.
- Cortec Corporation
- Sontex (Machinery) Ltd.
- Film Source International
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.
Get Free Sample For