Biodegradable Mulch Films Market Dynamics 2021-2031
Analyst Perspective
The global biodegradable mulch film market is estimated to register a CAGR of 8.4%. Increasing government regulations, consumer preference for eco-friendly products, and expansion of organic farming drive the demand for biodegradable mulch films. The market extends beyond agriculture to encompass landscaping, horticulture, and erosion control, offering further potential growth. The shift towards sustainable agriculture creates a vast opportunity for biodegradable mulch films. However, higher costs, limited awareness and availability, and technical barriers are significant factors that may restrain biodegradable mulch film growth.
Market Overview
Biodegradable mulch films represent a sustainable alternative to traditional plastic mulches in agriculture. Composed of organic materials such as starch, cellulose, or polylactic acid, these films break down naturally over time reducing environmental impact. Biodegradable mulch films play a crucial role in modern agriculture by boosting crop yield, enhancing quality, controlling weeds, and reducing water usage and pesticide dependency. Unlike traditional mulch films made from fossil-based polymers, these films use bio-based polymers. Biodegradable mulch films offer sustainable solutions for improved farming practices and environmental impact. As the technology for biodegradable mulch film improves, the cost of these products is coming down. Growing population and surge in crop demand are significant growth opportunities for biodegradable mulch films. Governments worldwide are increasingly enacting policies restricting traditional plastic mulch film use.
Market Drivers
- Traditional plastic mulch films are a significant source of plastic pollution, as they often end up in landfills or waterways. Biodegradable mulch films from polylactic acid or cellulose offer a more sustainable alternative.
- Consumers are becoming more conscious of the environmental consequences of their decisions. They increasingly demand sustainable products, which drives demand for biodegradable mulch films, which are considered more eco-friendly.
- Biodegradable mulch films can offer several benefits for crop yields, such as improved soil retention, weed suppression, and temperature control, leading to increased yields and profit for farmers.
- The greenhouse industry is growing rapidly, and biodegradable mulch films are a popular choice for greenhouse growers, which helps to create a controlled environment for crops and improve yields.
Market Segmentation
The global biodegradable mulch film market is segmented based on material type and application. Based on material type, the biodegradable mulch film market is segmented into TPS, PLA, PHA, AAC, and others. Based on material application, the biodegradable mulch film market is segmented into fruits & vegetables, flowers & plants, grains & oilseeds, and others.
Regional Analysis
The report provides a detailed industry overview, which includes qualitative and quantitative information. It gives information on an overview and forecast of the global biodegradable mulch film market based on several segments. It also provides market size and forecast estimates from 2021 to 2031 concerning five major regions: Europe, North America, Asia-Pacific (APAC), Middle East & Africa (MEA) and South & Central America. The biodegradable mulch film market by region is also sub-segmented by respective countries and segments. The biodegradable mulch film market report covers an analysis and forecast of eighteen countries globally and the prevailing trends and opportunities in the region.
The report analyses factors affecting the biodegradable mulch film market from both the demand and supply side. Furthermore, it evaluates market dynamics during the forecast period, i.e., drivers, challenges, opportunities, and future trends. The report also provides an extensive Porter's Five Forces analysis highlighting factors affecting these regions' biodegradable mulch film market.
Key Players
The reports cover vital organic and inorganic growth strategy developments in the biodegradable mulch film market. Various companies concentrate on organic growth strategies such as product launches, approvals, patents, and others. Inorganic growth strategies activities observed in the market were acquisitions, partnerships & collaborations. These activities have paved the way for the development of the business and customer base of market players. The biodegradable mulch film market players are expected to have lucrative growth opportunities with the increasing demand for sustainable products in the global market.
The report includes key companies' profiles, SWOT analysis, and Biodegradable Mulch Film market strategies. The report also focuses on leading market players with information including components and services offered, company profiles, financial information for the last three years, and critical development in the past five years.
Below is a List Of Companies Engaged in the Biodegradable Mulch Film Market.
- BASF SE
- Kingfa Sci & Tech Co
- Biobag International AS
- British Polythene Industries PLC
- Al-Pack Enterprises Ltd.
- Novomant
- Dow Chemical Company
- AB Rani Plast OY
- Armando Alvarez
- RKW Group
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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
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to country scope.
TABLE OF CONTENTS
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Biodegradable Mulch Film Market - By Biodegradable Plastics
1.3.2 Biodegradable Mulch Film Market - By Composition
1.3.3 Biodegradable Mulch Film Market - By Type of Crop
1.3.4 Biodegradable Mulch Film Market - By Region
1.3.4.1 By Country
2. KEY TAKEWAYS
3. RESEARCH METHODOLOGY
4. BIODEGRADABLE MULCH FILM 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. BIODEGRADABLE MULCH FILM 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. BIODEGRADABLE MULCH FILM MARKET - GLOBAL MARKET ANALYSIS
6.1. BIODEGRADABLE MULCH FILM - GLOBAL MARKET OVERVIEW
6.2. BIODEGRADABLE MULCH FILM - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. BIODEGRADABLE MULCH FILM MARKET - REVENUE AND FORECASTS TO 2028 - BIODEGRADABLE PLASTICS
7.1. OVERVIEW
7.2. BIODEGRADABLE PLASTICS MARKET FORECASTS AND ANALYSIS
7.3. THERMOPLASTIC STARCH (TPS)
7.3.1. Overview
7.3.2. Thermoplastic Starch (TPS) Market Forecast and Analysis
7.4. ALIPHATIC-AROMATIC COPOLYESTERS (AAC)
7.4.1. Overview
7.4.2. Aliphatic-Aromatic Copolyesters (AAC) Market Forecast and Analysis
7.5. CONTROLLED DEGRADATION MASTERBATCHES
7.5.1. Overview
7.5.2. Controlled Degradation Masterbatches Market Forecast and Analysis
8. BIODEGRADABLE MULCH FILM MARKET - REVENUE AND FORECASTS TO 2028 - COMPOSITION
8.1. OVERVIEW
8.2. COMPOSITION MARKET FORECASTS AND ANALYSIS
8.3. STARCH
8.3.1. Overview
8.3.2. Starch Market Forecast and Analysis
8.4. STARCH BLENDED WITH POLYLACTIC ACID (PLA)
8.4.1. Overview
8.4.2. Starch Blended With Polylactic Acid (PLA) Market Forecast and Analysis
8.5. STARCH BLENDED WITH POLYHYDROXYALKANOATE (PHA)
8.5.1. Overview
8.5.2. Starch Blended With Polyhydroxyalkanoate (PHA) Market Forecast and Analysis
8.6. OTHERS
8.6.1. Overview
8.6.2. Others Market Forecast and Analysis
9. BIODEGRADABLE MULCH FILM MARKET - REVENUE AND FORECASTS TO 2028 - TYPE OF CROP
9.1. OVERVIEW
9.2. TYPE OF CROP MARKET FORECASTS AND ANALYSIS
9.3. ONION
9.3.1. Overview
9.3.2. Onion Market Forecast and Analysis
9.4. STRAWBERRY CROPS
9.4.1. Overview
9.4.2. Strawberry Crops Market Forecast and Analysis
9.5. FLOWERS AND PLANTS
9.5.1. Overview
9.5.2. Flowers and Plants Market Forecast and Analysis
9.6. TOMATO
9.6.1. Overview
9.6.2. Tomato Market Forecast and Analysis
9.7. OTHERS
9.7.1. Overview
9.7.2. Others Market Forecast and Analysis
10. BIODEGRADABLE MULCH FILM MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America Biodegradable Mulch Film Market Overview
10.1.2 North America Biodegradable Mulch Film Market Forecasts and Analysis
10.1.3 North America Biodegradable Mulch Film Market Forecasts and Analysis - By Biodegradable Plastics
10.1.4 North America Biodegradable Mulch Film Market Forecasts and Analysis - By Composition
10.1.5 North America Biodegradable Mulch Film Market Forecasts and Analysis - By Type of Crop
10.1.6 North America Biodegradable Mulch Film Market Forecasts and Analysis - By Countries
10.1.6.1 United States Biodegradable Mulch Film Market
10.1.6.1.1 United States Biodegradable Mulch Film Market by Biodegradable Plastics
10.1.6.1.2 United States Biodegradable Mulch Film Market by Composition
10.1.6.1.3 United States Biodegradable Mulch Film Market by Type of Crop
10.1.6.2 Canada Biodegradable Mulch Film Market
10.1.6.2.1 Canada Biodegradable Mulch Film Market by Biodegradable Plastics
10.1.6.2.2 Canada Biodegradable Mulch Film Market by Composition
10.1.6.2.3 Canada Biodegradable Mulch Film Market by Type of Crop
10.1.6.3 Mexico Biodegradable Mulch Film Market
10.1.6.3.1 Mexico Biodegradable Mulch Film Market by Biodegradable Plastics
10.1.6.3.2 Mexico Biodegradable Mulch Film Market by Composition
10.1.6.3.3 Mexico Biodegradable Mulch Film Market by Type of Crop
10.2. EUROPE
10.2.1 Europe Biodegradable Mulch Film Market Overview
10.2.2 Europe Biodegradable Mulch Film Market Forecasts and Analysis
10.2.3 Europe Biodegradable Mulch Film Market Forecasts and Analysis - By Biodegradable Plastics
10.2.4 Europe Biodegradable Mulch Film Market Forecasts and Analysis - By Composition
10.2.5 Europe Biodegradable Mulch Film Market Forecasts and Analysis - By Type of Crop
10.2.6 Europe Biodegradable Mulch Film Market Forecasts and Analysis - By Countries
10.2.6.1 Germany Biodegradable Mulch Film Market
10.2.6.1.1 Germany Biodegradable Mulch Film Market by Biodegradable Plastics
10.2.6.1.2 Germany Biodegradable Mulch Film Market by Composition
10.2.6.1.3 Germany Biodegradable Mulch Film Market by Type of Crop
10.2.6.2 France Biodegradable Mulch Film Market
10.2.6.2.1 France Biodegradable Mulch Film Market by Biodegradable Plastics
10.2.6.2.2 France Biodegradable Mulch Film Market by Composition
10.2.6.2.3 France Biodegradable Mulch Film Market by Type of Crop
10.2.6.3 Italy Biodegradable Mulch Film Market
10.2.6.3.1 Italy Biodegradable Mulch Film Market by Biodegradable Plastics
10.2.6.3.2 Italy Biodegradable Mulch Film Market by Composition
10.2.6.3.3 Italy Biodegradable Mulch Film Market by Type of Crop
10.2.6.4 United Kingdom Biodegradable Mulch Film Market
10.2.6.4.1 United Kingdom Biodegradable Mulch Film Market by Biodegradable Plastics
10.2.6.4.2 United Kingdom Biodegradable Mulch Film Market by Composition
10.2.6.4.3 United Kingdom Biodegradable Mulch Film Market by Type of Crop
10.2.6.5 Russia Biodegradable Mulch Film Market
10.2.6.5.1 Russia Biodegradable Mulch Film Market by Biodegradable Plastics
10.2.6.5.2 Russia Biodegradable Mulch Film Market by Composition
10.2.6.5.3 Russia Biodegradable Mulch Film Market by Type of Crop
10.2.6.6 Rest of Europe Biodegradable Mulch Film Market
10.2.6.6.1 Rest of Europe Biodegradable Mulch Film Market by Biodegradable Plastics
10.2.6.6.2 Rest of Europe Biodegradable Mulch Film Market by Composition
10.2.6.6.3 Rest of Europe Biodegradable Mulch Film Market by Type of Crop
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific Biodegradable Mulch Film Market Overview
10.3.2 Asia-Pacific Biodegradable Mulch Film Market Forecasts and Analysis
10.3.3 Asia-Pacific Biodegradable Mulch Film Market Forecasts and Analysis - By Biodegradable Plastics
10.3.4 Asia-Pacific Biodegradable Mulch Film Market Forecasts and Analysis - By Composition
10.3.5 Asia-Pacific Biodegradable Mulch Film Market Forecasts and Analysis - By Type of Crop
10.3.6 Asia-Pacific Biodegradable Mulch Film Market Forecasts and Analysis - By Countries
10.3.6.1 Australia Biodegradable Mulch Film Market
10.3.6.1.1 Australia Biodegradable Mulch Film Market by Biodegradable Plastics
10.3.6.1.2 Australia Biodegradable Mulch Film Market by Composition
10.3.6.1.3 Australia Biodegradable Mulch Film Market by Type of Crop
10.3.6.2 China Biodegradable Mulch Film Market
10.3.6.2.1 China Biodegradable Mulch Film Market by Biodegradable Plastics
10.3.6.2.2 China Biodegradable Mulch Film Market by Composition
10.3.6.2.3 China Biodegradable Mulch Film Market by Type of Crop
10.3.6.3 India Biodegradable Mulch Film Market
10.3.6.3.1 India Biodegradable Mulch Film Market by Biodegradable Plastics
10.3.6.3.2 India Biodegradable Mulch Film Market by Composition
10.3.6.3.3 India Biodegradable Mulch Film Market by Type of Crop
10.3.6.4 Japan Biodegradable Mulch Film Market
10.3.6.4.1 Japan Biodegradable Mulch Film Market by Biodegradable Plastics
10.3.6.4.2 Japan Biodegradable Mulch Film Market by Composition
10.3.6.4.3 Japan Biodegradable Mulch Film Market by Type of Crop
10.3.6.5 South Korea Biodegradable Mulch Film Market
10.3.6.5.1 South Korea Biodegradable Mulch Film Market by Biodegradable Plastics
10.3.6.5.2 South Korea Biodegradable Mulch Film Market by Composition
10.3.6.5.3 South Korea Biodegradable Mulch Film Market by Type of Crop
10.3.6.6 Rest of Asia-Pacific Biodegradable Mulch Film Market
10.3.6.6.1 Rest of Asia-Pacific Biodegradable Mulch Film Market by Biodegradable Plastics
10.3.6.6.2 Rest of Asia-Pacific Biodegradable Mulch Film Market by Composition
10.3.6.6.3 Rest of Asia-Pacific Biodegradable Mulch Film Market by Type of Crop
10.4. MIDDLE EAST AND AFRICA
10.4.1 Middle East and Africa Biodegradable Mulch Film Market Overview
10.4.2 Middle East and Africa Biodegradable Mulch Film Market Forecasts and Analysis
10.4.3 Middle East and Africa Biodegradable Mulch Film Market Forecasts and Analysis - By Biodegradable Plastics
10.4.4 Middle East and Africa Biodegradable Mulch Film Market Forecasts and Analysis - By Composition
10.4.5 Middle East and Africa Biodegradable Mulch Film Market Forecasts and Analysis - By Type of Crop
10.4.6 Middle East and Africa Biodegradable Mulch Film Market Forecasts and Analysis - By Countries
10.4.6.1 South Africa Biodegradable Mulch Film Market
10.4.6.1.1 South Africa Biodegradable Mulch Film Market by Biodegradable Plastics
10.4.6.1.2 South Africa Biodegradable Mulch Film Market by Composition
10.4.6.1.3 South Africa Biodegradable Mulch Film Market by Type of Crop
10.4.6.2 Saudi Arabia Biodegradable Mulch Film Market
10.4.6.2.1 Saudi Arabia Biodegradable Mulch Film Market by Biodegradable Plastics
10.4.6.2.2 Saudi Arabia Biodegradable Mulch Film Market by Composition
10.4.6.2.3 Saudi Arabia Biodegradable Mulch Film Market by Type of Crop
10.4.6.3 U.A.E Biodegradable Mulch Film Market
10.4.6.3.1 U.A.E Biodegradable Mulch Film Market by Biodegradable Plastics
10.4.6.3.2 U.A.E Biodegradable Mulch Film Market by Composition
10.4.6.3.3 U.A.E Biodegradable Mulch Film Market by Type of Crop
10.4.6.4 Rest of Middle East and Africa Biodegradable Mulch Film Market
10.4.6.4.1 Rest of Middle East and Africa Biodegradable Mulch Film Market by Biodegradable Plastics
10.4.6.4.2 Rest of Middle East and Africa Biodegradable Mulch Film Market by Composition
10.4.6.4.3 Rest of Middle East and Africa Biodegradable Mulch Film Market by Type of Crop
10.5. SOUTH AND CENTRAL AMERICA
10.5.1 South and Central America Biodegradable Mulch Film Market Overview
10.5.2 South and Central America Biodegradable Mulch Film Market Forecasts and Analysis
10.5.3 South and Central America Biodegradable Mulch Film Market Forecasts and Analysis - By Biodegradable Plastics
10.5.4 South and Central America Biodegradable Mulch Film Market Forecasts and Analysis - By Composition
10.5.5 South and Central America Biodegradable Mulch Film Market Forecasts and Analysis - By Type of Crop
10.5.6 South and Central America Biodegradable Mulch Film Market Forecasts and Analysis - By Countries
10.5.6.1 Brazil Biodegradable Mulch Film Market
10.5.6.1.1 Brazil Biodegradable Mulch Film Market by Biodegradable Plastics
10.5.6.1.2 Brazil Biodegradable Mulch Film Market by Composition
10.5.6.1.3 Brazil Biodegradable Mulch Film Market by Type of Crop
10.5.6.2 Argentina Biodegradable Mulch Film Market
10.5.6.2.1 Argentina Biodegradable Mulch Film Market by Biodegradable Plastics
10.5.6.2.2 Argentina Biodegradable Mulch Film Market by Composition
10.5.6.2.3 Argentina Biodegradable Mulch Film Market by Type of Crop
10.5.6.3 Rest of South and Central America Biodegradable Mulch Film Market
10.5.6.3.1 Rest of South and Central America Biodegradable Mulch Film Market by Biodegradable Plastics
10.5.6.3.2 Rest of South and Central America Biodegradable Mulch Film Market by Composition
10.5.6.3.3 Rest of South and Central America Biodegradable Mulch Film Market by Type of Crop
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. BIODEGRADABLE MULCH FILM MARKET, KEY COMPANY PROFILES
12.1. AEP INDUSTRIES INC.
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. AL-PACK ENTERPRISES LTD.
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. BASF SE
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. BIOBAG INTERNATIONAL AS
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. GRUPO ARMANDO ALVAREZ
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. NOVAMONT S.P.A.
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. RKW GROUP
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. RPC BPI GROUP
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. THE DOW CHEMICAL COMPANY
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. ZHEJIANG HANGZHOU XINFU PHARMACEUTICAL CO.,LTD
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
13. APPENDIX
13.1. ABOUT THE INSIGHT PARTNERS
13.2. GLOSSARY OF TERMS
The List of Companies
1. AEP Industries Inc.
2. AL-PACK Enterprises Ltd.
3. BASF SE
4. BioBag International AS
5. Grupo Armando Alvarez
6. Novamont S.p.A.
7. RKW Group
8. RPC bpi group
9. The Dow Chemical Company
10. Zhejiang Hangzhou xinfu Pharmaceutical Co.,Ltd
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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