The Biofungicides Market is expected to register a CAGR of 10.7% from 2025 to 2031, with a market size expanding from US$ XX million in 2024 to US$ XX Million by 2031.
The research biofungiside market report is categorized into the following subsegments: Type, Mode of application, crop type , and Geography. The global analysis is broken down at the regional level and major countries. The market evaluation is presented in US$ for the above segmental analysis.
Purpose of the ReportThe report Biofungicides 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.
Biofungicides Market Segmentation
Type- Microbial
- Botanical
- Foliar speay. Soil treatment
- seed
Strategic Insights
Biofungicides Market Growth Drivers- Rising Adoption of Organic Farming: The biofungicide market is dramatically changing due to a number of interrelated trends reflecting the broader trend toward sustainable agriculture. First is the increased organic farming because consumers are raising demands for healthier and chemical-free produce. In fact, according to the Research Institute of Organic Agriculture, the organic farmland globally has reached about 72.3 million hectares in 2020 and continues to grow. This growth in organic farming contributes to an increasing market requirement for such organic standard-compliant biofungicides capable of managing pests effectively with no synthetic chemicals. Another key trend having a major impact on enhancing efficacy and specificity in biofungicides involves the development of biotechnology.
- Heavy investment in research and development: Development in microbial formulation and plant-derived compounds is underway to target site-specific pathogens and preserve useful organisms. Such a development in technology is likely to drive the market at a CAGR of around 12% from 2022 to 2027. Heavy investment in research and development related to the development of biofungicides, which would not only be effective but also environmental friendly, keeping in view the needs of modern agriculture.
- Integration of IPM strategies is also molding the biofungicides scenario: IPM combines biological, cultural, and chemical practices to manage pests effectively and sustainably. Biofungicides are considered key components in reducing reliance on chemical pesticides. According to the FAO, it is estimated that IPM can reduce pesticide application by up to 50%. The application of biofungicides becomes an important component of integrated crop protection practices. This trend is in step with global goals on sustainability and encourages farmers toward more environmentally-friendly practices.
- Compliance with Farming Standards: According to the Research Institute of Organic Agriculture, organic farmland globally reached approximately 72.3 million hectares in 2020, with expectations for continued growth. This surge in organic cultivation directly fuels demand for biofungicides, which are compliant with organic standards and provide effective pest management without synthetic chemicals.
- Advanced Biotechnology: Technology is enhancing the efficacy and specificity of biofungicides. Innovations such as microbial formulations and plant-derived compounds are being developed to target specific pathogens while preserving beneficial organisms. The market is projected to grow at a compound annual growth rate (CAGR) of around 12% from 2022 to 2027, largely driven by these technological advancements. Companies are investing heavily in research and development to create biofungicides that are not only effective but also environmentally sustainable, catering to the needs of modern agriculture.
- The integration of Integrated Pest Management (IPM) strategies: This trend is also reshaping the biofungicides landscape. IPM combines biological, cultural, and chemical practices to manage pests sustainably, with biofungicides playing a crucial role in reducing reliance on chemical pesticides. According to the Food and Agriculture Organization (FAO), IPM can reduce pesticide use by up to 50%, highlighting the importance of biofungicides as part of comprehensive pest management strategies. This trend aligns with global sustainability goals and encourages farmers to adopt more environmentally friendly practices.
- Expanding Emerging Markets: Agricultural sectors in countries like India, Brazil, and Africa are emerging, and their growth therefore presents a very big scope in this industry for the consumption of biofungicides by farmers on account of growing demand for sustainable agriculture.
- Product development: Bio-pesticides have many new product development opportunities, mainly linked to technologies derived from the biotechnical advancement, such as genetically engineered microorganisms and novel formulation. Other areas include further efficacy improvements of biofungicides.
- New strategic partnerships: Forming partnerships with research institutions, universities, and agricultural associations result in increasing R and D and the discovery of new biofungicides.
- Training and Outreach: Dissemination and training among farmers about the efficacy and other positive attributes of the application of biofungicides would increase its rate of adoption and therefore would create an avenue for companies to conduct outreach and training.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Biofungicides 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 Biofungicides Market can, therefore, help spearhead the trail of decoding and understanding the industry scenario and growth prospects. Although there can be a few valid concerns, the overall benefits of this report tend to outweigh the disadvantages.
REGIONAL FRAMEWORK
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Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
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to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
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to country scope.
Frequently Asked Questions
The report can be delivered in PDF/PPT format; we can also share excel dataset based on the request.
Some of the customization options available based on request are additional 3-5 company profiles and country-specific analysis of 3-5 countries of your choice. Customizations are to be requested/discussed before making final order confirmation, as our team would review the same and check the feasibility.
BASF SE, Bayer AG, BioWorks, FMC Corporation, Isagro S P A, Koppert Biological Systems, Marrone Bio Innovations, Novozymes, Nufarm are key players in biofungicide market
The market is expected to register a CAGR of 10.7% during 2023-2031
Bio fungicides are slowly becoming a trend in the market due to the increasing demand for organic and residue-free food, awareness about the adverse effects of chemical pesticides, and favorable government policies. Additionally, progress in technology in the development of biofungicides along with ever-increasing losses to crops caused by fungal diseases help this industry grow.
Technological changes, increased demand in high-value crops, and growth in partnerships between agricultural and biotechnology companies are some of the key trends associated with the market. All these are factors contributing to the growth of this market and towards greener pest management approaches.
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Biofungicides Market - By Type
1.3.2 Biofungicides Market - By Mode of Application
1.3.3 Biofungicides Market - By Crop Type
1.3.4 Biofungicides Market - By Region
1.3.4.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. BIOFUNGICIDES 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. BIOFUNGICIDES 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. BIOFUNGICIDES MARKET - GLOBAL MARKET ANALYSIS
6.1. BIOFUNGICIDES - GLOBAL MARKET OVERVIEW
6.2. BIOFUNGICIDES - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. BIOFUNGICIDES MARKET - REVENUE AND FORECASTS TO 2028 - TYPE
7.1. OVERVIEW
7.2. TYPE MARKET FORECASTS AND ANALYSIS
7.3. MICROBIAL SPECIES
7.3.1. Overview
7.3.2. Microbial species Market Forecast and Analysis
7.4. BOTANICAL
7.4.1. Overview
7.4.2. Botanical Market Forecast and Analysis
8. BIOFUNGICIDES MARKET - REVENUE AND FORECASTS TO 2028 - MODE OF APPLICATION
8.1. OVERVIEW
8.2. MODE OF APPLICATION MARKET FORECASTS AND ANALYSIS
8.3. FOLIAR SPRAY
8.3.1. Overview
8.3.2. Foliar spray Market Forecast and Analysis
8.4. SOIL TREATMENT
8.4.1. Overview
8.4.2. Soil treatment Market Forecast and Analysis
8.5. SEED TREATMENT
8.5.1. Overview
8.5.2. Seed treatment Market Forecast and Analysis
8.6. OTHERS
8.6.1. Overview
8.6.2. Others Market Forecast and Analysis
9. BIOFUNGICIDES MARKET - REVENUE AND FORECASTS TO 2028 - CROP TYPE
9.1. OVERVIEW
9.2. CROP TYPE MARKET FORECASTS AND ANALYSIS
9.3. FRUITS AND VEGETABLES
9.3.1. Overview
9.3.2. Fruits and Vegetables Market Forecast and Analysis
9.4. CEREALS AND GRAINS
9.4.1. Overview
9.4.2. Cereals and Grains Market Forecast and Analysis
9.5. OILSEEDS AND PULSES
9.5.1. Overview
9.5.2. Oilseeds and Pulses Market Forecast and Analysis
9.6. OTHERS
9.6.1. Overview
9.6.2. Others Market Forecast and Analysis
10. BIOFUNGICIDES MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America Biofungicides Market Overview
10.1.2 North America Biofungicides Market Forecasts and Analysis
10.1.3 North America Biofungicides Market Forecasts and Analysis - By Type
10.1.4 North America Biofungicides Market Forecasts and Analysis - By Mode of Application
10.1.5 North America Biofungicides Market Forecasts and Analysis - By Crop Type
10.1.6 North America Biofungicides Market Forecasts and Analysis - By Countries
10.1.6.1 United States Biofungicides Market
10.1.6.1.1 United States Biofungicides Market by Type
10.1.6.1.2 United States Biofungicides Market by Mode of Application
10.1.6.1.3 United States Biofungicides Market by Crop Type
10.1.6.2 Canada Biofungicides Market
10.1.6.2.1 Canada Biofungicides Market by Type
10.1.6.2.2 Canada Biofungicides Market by Mode of Application
10.1.6.2.3 Canada Biofungicides Market by Crop Type
10.1.6.3 Mexico Biofungicides Market
10.1.6.3.1 Mexico Biofungicides Market by Type
10.1.6.3.2 Mexico Biofungicides Market by Mode of Application
10.1.6.3.3 Mexico Biofungicides Market by Crop Type
10.2. EUROPE
10.2.1 Europe Biofungicides Market Overview
10.2.2 Europe Biofungicides Market Forecasts and Analysis
10.2.3 Europe Biofungicides Market Forecasts and Analysis - By Type
10.2.4 Europe Biofungicides Market Forecasts and Analysis - By Mode of Application
10.2.5 Europe Biofungicides Market Forecasts and Analysis - By Crop Type
10.2.6 Europe Biofungicides Market Forecasts and Analysis - By Countries
10.2.6.1 Germany Biofungicides Market
10.2.6.1.1 Germany Biofungicides Market by Type
10.2.6.1.2 Germany Biofungicides Market by Mode of Application
10.2.6.1.3 Germany Biofungicides Market by Crop Type
10.2.6.2 France Biofungicides Market
10.2.6.2.1 France Biofungicides Market by Type
10.2.6.2.2 France Biofungicides Market by Mode of Application
10.2.6.2.3 France Biofungicides Market by Crop Type
10.2.6.3 Italy Biofungicides Market
10.2.6.3.1 Italy Biofungicides Market by Type
10.2.6.3.2 Italy Biofungicides Market by Mode of Application
10.2.6.3.3 Italy Biofungicides Market by Crop Type
10.2.6.4 United Kingdom Biofungicides Market
10.2.6.4.1 United Kingdom Biofungicides Market by Type
10.2.6.4.2 United Kingdom Biofungicides Market by Mode of Application
10.2.6.4.3 United Kingdom Biofungicides Market by Crop Type
10.2.6.5 Russia Biofungicides Market
10.2.6.5.1 Russia Biofungicides Market by Type
10.2.6.5.2 Russia Biofungicides Market by Mode of Application
10.2.6.5.3 Russia Biofungicides Market by Crop Type
10.2.6.6 Rest of Europe Biofungicides Market
10.2.6.6.1 Rest of Europe Biofungicides Market by Type
10.2.6.6.2 Rest of Europe Biofungicides Market by Mode of Application
10.2.6.6.3 Rest of Europe Biofungicides Market by Crop Type
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific Biofungicides Market Overview
10.3.2 Asia-Pacific Biofungicides Market Forecasts and Analysis
10.3.3 Asia-Pacific Biofungicides Market Forecasts and Analysis - By Type
10.3.4 Asia-Pacific Biofungicides Market Forecasts and Analysis - By Mode of Application
10.3.5 Asia-Pacific Biofungicides Market Forecasts and Analysis - By Crop Type
10.3.6 Asia-Pacific Biofungicides Market Forecasts and Analysis - By Countries
10.3.6.1 Australia Biofungicides Market
10.3.6.1.1 Australia Biofungicides Market by Type
10.3.6.1.2 Australia Biofungicides Market by Mode of Application
10.3.6.1.3 Australia Biofungicides Market by Crop Type
10.3.6.2 China Biofungicides Market
10.3.6.2.1 China Biofungicides Market by Type
10.3.6.2.2 China Biofungicides Market by Mode of Application
10.3.6.2.3 China Biofungicides Market by Crop Type
10.3.6.3 India Biofungicides Market
10.3.6.3.1 India Biofungicides Market by Type
10.3.6.3.2 India Biofungicides Market by Mode of Application
10.3.6.3.3 India Biofungicides Market by Crop Type
10.3.6.4 Japan Biofungicides Market
10.3.6.4.1 Japan Biofungicides Market by Type
10.3.6.4.2 Japan Biofungicides Market by Mode of Application
10.3.6.4.3 Japan Biofungicides Market by Crop Type
10.3.6.5 South Korea Biofungicides Market
10.3.6.5.1 South Korea Biofungicides Market by Type
10.3.6.5.2 South Korea Biofungicides Market by Mode of Application
10.3.6.5.3 South Korea Biofungicides Market by Crop Type
10.3.6.6 Rest of Asia-Pacific Biofungicides Market
10.3.6.6.1 Rest of Asia-Pacific Biofungicides Market by Type
10.3.6.6.2 Rest of Asia-Pacific Biofungicides Market by Mode of Application
10.3.6.6.3 Rest of Asia-Pacific Biofungicides Market by Crop Type
10.4. MIDDLE EAST AND AFRICA
10.4.1 Middle East and Africa Biofungicides Market Overview
10.4.2 Middle East and Africa Biofungicides Market Forecasts and Analysis
10.4.3 Middle East and Africa Biofungicides Market Forecasts and Analysis - By Type
10.4.4 Middle East and Africa Biofungicides Market Forecasts and Analysis - By Mode of Application
10.4.5 Middle East and Africa Biofungicides Market Forecasts and Analysis - By Crop Type
10.4.6 Middle East and Africa Biofungicides Market Forecasts and Analysis - By Countries
10.4.6.1 South Africa Biofungicides Market
10.4.6.1.1 South Africa Biofungicides Market by Type
10.4.6.1.2 South Africa Biofungicides Market by Mode of Application
10.4.6.1.3 South Africa Biofungicides Market by Crop Type
10.4.6.2 Saudi Arabia Biofungicides Market
10.4.6.2.1 Saudi Arabia Biofungicides Market by Type
10.4.6.2.2 Saudi Arabia Biofungicides Market by Mode of Application
10.4.6.2.3 Saudi Arabia Biofungicides Market by Crop Type
10.4.6.3 U.A.E Biofungicides Market
10.4.6.3.1 U.A.E Biofungicides Market by Type
10.4.6.3.2 U.A.E Biofungicides Market by Mode of Application
10.4.6.3.3 U.A.E Biofungicides Market by Crop Type
10.4.6.4 Rest of Middle East and Africa Biofungicides Market
10.4.6.4.1 Rest of Middle East and Africa Biofungicides Market by Type
10.4.6.4.2 Rest of Middle East and Africa Biofungicides Market by Mode of Application
10.4.6.4.3 Rest of Middle East and Africa Biofungicides Market by Crop Type
10.5. SOUTH AND CENTRAL AMERICA
10.5.1 South and Central America Biofungicides Market Overview
10.5.2 South and Central America Biofungicides Market Forecasts and Analysis
10.5.3 South and Central America Biofungicides Market Forecasts and Analysis - By Type
10.5.4 South and Central America Biofungicides Market Forecasts and Analysis - By Mode of Application
10.5.5 South and Central America Biofungicides Market Forecasts and Analysis - By Crop Type
10.5.6 South and Central America Biofungicides Market Forecasts and Analysis - By Countries
10.5.6.1 Brazil Biofungicides Market
10.5.6.1.1 Brazil Biofungicides Market by Type
10.5.6.1.2 Brazil Biofungicides Market by Mode of Application
10.5.6.1.3 Brazil Biofungicides Market by Crop Type
10.5.6.2 Argentina Biofungicides Market
10.5.6.2.1 Argentina Biofungicides Market by Type
10.5.6.2.2 Argentina Biofungicides Market by Mode of Application
10.5.6.2.3 Argentina Biofungicides Market by Crop Type
10.5.6.3 Rest of South and Central America Biofungicides Market
10.5.6.3.1 Rest of South and Central America Biofungicides Market by Type
10.5.6.3.2 Rest of South and Central America Biofungicides Market by Mode of Application
10.5.6.3.3 Rest of South and Central America Biofungicides Market by Crop Type
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. BIOFUNGICIDES MARKET, KEY COMPANY PROFILES
12.1. BASF SE
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. BAYER AG
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. BIOWORKS
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. FMC CORPORATION
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. ISAGRO S.P.A
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. KOPPERT BIOLOGICAL SYSTEMS
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. MARRONE BIO INNOVATIONS
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. NOVOZYMES
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. NUFARM
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. SYNGENTA AG
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
1. BASF SE
2. Bayer AG
3. BioWorks
4. FMC Corporation
5. Isagro S.P.A
6. Koppert Biological Systems
7. Marrone Bio Innovations
8. Novozymes
9. Nufarm
10. Syngenta AG
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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