The Bio Renewable Chemicals Market is expected to register a CAGR of 12% from 2025 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 product type (bioethanol, biodiesel, bioplastics, and others). The report is segmented by feedstock (agricultural waste, biomass, algae, sugar crops, and others). The report is segmented by application (agriculture, packaging, food and beverages, personal care and cosmetics, textile, pharmaceuticals, 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 Bio Renewable Chemicals 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.
Bio Renewable Chemicals Market Segmentation
Product Type- Bioethanol
- Biodiesel
- Bioplastics
- Agricultural Waste
- Biomass
- Algae
- Sugar Crops
- Agriculture
- Packaging
- Food And Beverages
- Personal Care And Cosmetics
- Textile
- Pharmaceuticals
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
Strategic Insights
Bio Renewable Chemicals Market Growth Drivers- Rising Consumer Demand for Green Options Fuels Bio-Renewable Chemicals Growth: The upping consumer demands for strong and sustained green options are also driving rapid demand for bio-renewable chemicals. With the growing awareness about the environment, there is a ‘cleaner’ options as compared to ‘traditional’ chemical products that are ‘dirty’, increasing the switch over. This trend motivates manufacturers to start using bio-renewable tar-based materials to meet the increased demand for eco-friendly materials in various sectors.
- Industries Adopt Bio-Renewable Chemicals for Sustainable Product Design: In addition, other industries such as cosmetics, food, and packaging, are also integrating sustainability into the products they sell. Companies are changing their product design process by adding bio-renewable chemicals whose performance potential is on the same level as traditional products but have a lower environmental footprint. This process promotes a positive reputation and meets changes in the law regarding customer’s requirements for a green product.
- Government Policies Support Bio-Renewable Chemical Market Expansion: In addition to these trends, government policies that encourage more sustainable behavior help the bio-renewable chemical market. The strategies introduced in order to cut carbon and plastic emissions encourage companies to use bio-based solutions. Such a regulatory environment supports the development and deployment of bio-renewable chemical technologies, thereby enhancing the market attractiveness.
- Incorporation of Agro-Forestry Waste Boosts Biomaterials Industry: An increasing trend in the biomaterials industry is the growing incorporation of agro-forestry waste as a raw material. These abundant materials and often untapped, efficient resources help reduce the dependency on fossil fuels and waste generation. This also complements the sustainability agenda of a circular economy and resource maximization.
- Agriculture and Forestry Waste as Alternative Feedstock for Bio-Renewable Chemicals: Agriculture, and forestry waste offers a variety of raw materials that go into bio-renewable chemical production. Waste products left behind, e.g., cereal straws, wood chips, and sawdust, have the potential to be transformed into chemicals, biofuels, and bioplastics. This provides alternative sources of feedstock and helps the local economy, benefiting the farmers and forestry industries by encouraging diversification of activities.
- Technological Advancements Improve Conversion of Waste into Bio-Renewable Chemicals: The technology is also improving the conversion of these wastes into bio-renewable chemicals. Better processing techniques and bioconversion methods enable higher yields at even lower costs, improving the bio-renewable chemical manufacturing process than the petrochemical processes. The development in this aspect spurs more investment and innovations for newer uses and compositions.
- AI and Machine Learning Drive Market Expansion in Bio-Renewable Chemicals: The application of artificial intelligence (AI) and machine learning (ML) technologies, particularly in the area of process optimization, is expected to bring considerable market expansions in bio-renewable chemicals. Thanks to modern technologies, firms can handle and interpret big data to lessen production costs and wastage while improving efficiency in production processes. This enables a more environmentally friendly system of manufacturing.
- AI and ML Enhance Bio-Renewable Chemical Production from Feedstock to Manufacturing: Incorporating AI and ML may enhance a wider spectrum of operations in the bio-renewable chemical value chain, from feedstock selection to production conditions. For example, it may be possible to determine the best approach to chemical production from feedstock such as biomass using predictive modeling. Such vertical integration will improve output and reduce energy costs resulting in higher margins to the manufacturers.
- Real-Time Quality Management and Process Control with AI for Sustainable Production: Apart from that, the use of new-age technologies also enables control Meiroscope application and quality management during the production process in the real time mode. In this case it is possible to respond immediately and change the way of work based on the insights from the data so that the accuracy of the products is maintained at a higher level with less margin of error. Organizations are more focused on environmental sustainability; hence there should be a capacity to offer quality services or products with minimal environmental effects.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Bio Renewable Chemicals 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 Bio Renewable Chemicals 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
Increasing consumer demand for eco-friendly products is expected to be the key market trends.
Based on product type, the bioethanol segment is expected to witness the fastest growth during the forecast period
Based on geography, Asia Pacific held the largest share of the bio renewable chemical market due to the growing demand for sustainable products in countries such as India and China, coupled with government initiatives promoting bio-based industries.
Increasing consumer demand for eco-friendly products is driving the market growth.
Archer Daniels Midland; Cobion N.V.; Galactic; Musashino Chemical Laboratory, Ltd.; Jiaan Biotech; Berjé Inc; Kanto Chemical Co., Inc; Hawkins Inc; Lee Biosolutions, Inc; and Foodchem International Corporation are some of the key players operating in the bio renewable chemical market
The Bio Renewable Chemicals Market is estimated to witness a CAGR of 12% from 2023 to 2031
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 Biorenewable Chemicals Market - By Type of Platform Chemicals
1.3.2 Biorenewable Chemicals Market - By Application
1.3.3 Biorenewable Chemicals Market - By Region
1.3.3.1 By Country
2. KEY TAKEWAYS
3. RESEARCH METHODOLOGY
4. BIORENEWABLE CHEMICALS 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. BIORENEWABLE CHEMICALS 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. BIORENEWABLE CHEMICALS MARKET - GLOBAL MARKET ANALYSIS
6.1. BIORENEWABLE CHEMICALS - GLOBAL MARKET OVERVIEW
6.2. BIORENEWABLE CHEMICALS - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. BIORENEWABLE CHEMICALS MARKET - REVENUE AND FORECASTS TO 2028 - TYPE OF PLATFORM CHEMICALS
7.1. OVERVIEW
7.2. TYPE OF PLATFORM CHEMICALS MARKET FORECASTS AND ANALYSIS
7.3. GLYCERIN
7.3.1. Overview
7.3.2. Glycerin Market Forecast and Analysis
7.4. LACTIC ACID
7.4.1. Overview
7.4.2. Lactic Acid Market Forecast and Analysis
7.5. SUCCINIC ACID
7.5.1. Overview
7.5.2. Succinic Acid Market Forecast and Analysis
7.6. OTHERS
7.6.1. Overview
7.6.2. Others Market Forecast and Analysis
8. BIORENEWABLE CHEMICALS MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
8.1. OVERVIEW
8.2. APPLICATION MARKET FORECASTS AND ANALYSIS
8.3. BIO-PLASTIC
8.3.1. Overview
8.3.2. Bio-plastic Market Forecast and Analysis
8.4. BIO-BASED SOLVENTS
8.4.1. Overview
8.4.2. Bio-based Solvents Market Forecast and Analysis
8.5. BIO-BASED CLEANERS AND DETERGENTS
8.5.1. Overview
8.5.2. Bio-based cleaners and detergents Market Forecast and Analysis
8.6. OTHERS
8.6.1. Overview
8.6.2. Others Market Forecast and Analysis
9. BIORENEWABLE CHEMICALS MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
9.1. NORTH AMERICA
9.1.1 North America Biorenewable Chemicals Market Overview
9.1.2 North America Biorenewable Chemicals Market Forecasts and Analysis
9.1.3 North America Biorenewable Chemicals Market Forecasts and Analysis - By Type of Platform Chemicals
9.1.4 North America Biorenewable Chemicals Market Forecasts and Analysis - By Application
9.1.5 North America Biorenewable Chemicals Market Forecasts and Analysis - By Countries
9.1.5.1 United States Biorenewable Chemicals Market
9.1.5.1.1 United States Biorenewable Chemicals Market by Type of Platform Chemicals
9.1.5.1.2 United States Biorenewable Chemicals Market by Application
9.1.5.2 Canada Biorenewable Chemicals Market
9.1.5.2.1 Canada Biorenewable Chemicals Market by Type of Platform Chemicals
9.1.5.2.2 Canada Biorenewable Chemicals Market by Application
9.1.5.3 Mexico Biorenewable Chemicals Market
9.1.5.3.1 Mexico Biorenewable Chemicals Market by Type of Platform Chemicals
9.1.5.3.2 Mexico Biorenewable Chemicals Market by Application
9.2. EUROPE
9.2.1 Europe Biorenewable Chemicals Market Overview
9.2.2 Europe Biorenewable Chemicals Market Forecasts and Analysis
9.2.3 Europe Biorenewable Chemicals Market Forecasts and Analysis - By Type of Platform Chemicals
9.2.4 Europe Biorenewable Chemicals Market Forecasts and Analysis - By Application
9.2.5 Europe Biorenewable Chemicals Market Forecasts and Analysis - By Countries
9.2.5.1 Germany Biorenewable Chemicals Market
9.2.5.1.1 Germany Biorenewable Chemicals Market by Type of Platform Chemicals
9.2.5.1.2 Germany Biorenewable Chemicals Market by Application
9.2.5.2 France Biorenewable Chemicals Market
9.2.5.2.1 France Biorenewable Chemicals Market by Type of Platform Chemicals
9.2.5.2.2 France Biorenewable Chemicals Market by Application
9.2.5.3 Italy Biorenewable Chemicals Market
9.2.5.3.1 Italy Biorenewable Chemicals Market by Type of Platform Chemicals
9.2.5.3.2 Italy Biorenewable Chemicals Market by Application
9.2.5.4 United Kingdom Biorenewable Chemicals Market
9.2.5.4.1 United Kingdom Biorenewable Chemicals Market by Type of Platform Chemicals
9.2.5.4.2 United Kingdom Biorenewable Chemicals Market by Application
9.2.5.5 Russia Biorenewable Chemicals Market
9.2.5.5.1 Russia Biorenewable Chemicals Market by Type of Platform Chemicals
9.2.5.5.2 Russia Biorenewable Chemicals Market by Application
9.2.5.6 Rest of Europe Biorenewable Chemicals Market
9.2.5.6.1 Rest of Europe Biorenewable Chemicals Market by Type of Platform Chemicals
9.2.5.6.2 Rest of Europe Biorenewable Chemicals Market by Application
9.3. ASIA-PACIFIC
9.3.1 Asia-Pacific Biorenewable Chemicals Market Overview
9.3.2 Asia-Pacific Biorenewable Chemicals Market Forecasts and Analysis
9.3.3 Asia-Pacific Biorenewable Chemicals Market Forecasts and Analysis - By Type of Platform Chemicals
9.3.4 Asia-Pacific Biorenewable Chemicals Market Forecasts and Analysis - By Application
9.3.5 Asia-Pacific Biorenewable Chemicals Market Forecasts and Analysis - By Countries
9.3.5.1 Australia Biorenewable Chemicals Market
9.3.5.1.1 Australia Biorenewable Chemicals Market by Type of Platform Chemicals
9.3.5.1.2 Australia Biorenewable Chemicals Market by Application
9.3.5.2 China Biorenewable Chemicals Market
9.3.5.2.1 China Biorenewable Chemicals Market by Type of Platform Chemicals
9.3.5.2.2 China Biorenewable Chemicals Market by Application
9.3.5.3 India Biorenewable Chemicals Market
9.3.5.3.1 India Biorenewable Chemicals Market by Type of Platform Chemicals
9.3.5.3.2 India Biorenewable Chemicals Market by Application
9.3.5.4 Japan Biorenewable Chemicals Market
9.3.5.4.1 Japan Biorenewable Chemicals Market by Type of Platform Chemicals
9.3.5.4.2 Japan Biorenewable Chemicals Market by Application
9.3.5.5 South Korea Biorenewable Chemicals Market
9.3.5.5.1 South Korea Biorenewable Chemicals Market by Type of Platform Chemicals
9.3.5.5.2 South Korea Biorenewable Chemicals Market by Application
9.3.5.6 Rest of Asia-Pacific Biorenewable Chemicals Market
9.3.5.6.1 Rest of Asia-Pacific Biorenewable Chemicals Market by Type of Platform Chemicals
9.3.5.6.2 Rest of Asia-Pacific Biorenewable Chemicals Market by Application
9.4. MIDDLE EAST AND AFRICA
9.4.1 Middle East and Africa Biorenewable Chemicals Market Overview
9.4.2 Middle East and Africa Biorenewable Chemicals Market Forecasts and Analysis
9.4.3 Middle East and Africa Biorenewable Chemicals Market Forecasts and Analysis - By Type of Platform Chemicals
9.4.4 Middle East and Africa Biorenewable Chemicals Market Forecasts and Analysis - By Application
9.4.5 Middle East and Africa Biorenewable Chemicals Market Forecasts and Analysis - By Countries
9.4.5.1 South Africa Biorenewable Chemicals Market
9.4.5.1.1 South Africa Biorenewable Chemicals Market by Type of Platform Chemicals
9.4.5.1.2 South Africa Biorenewable Chemicals Market by Application
9.4.5.2 Saudi Arabia Biorenewable Chemicals Market
9.4.5.2.1 Saudi Arabia Biorenewable Chemicals Market by Type of Platform Chemicals
9.4.5.2.2 Saudi Arabia Biorenewable Chemicals Market by Application
9.4.5.3 U.A.E Biorenewable Chemicals Market
9.4.5.3.1 U.A.E Biorenewable Chemicals Market by Type of Platform Chemicals
9.4.5.3.2 U.A.E Biorenewable Chemicals Market by Application
9.4.5.4 Rest of Middle East and Africa Biorenewable Chemicals Market
9.4.5.4.1 Rest of Middle East and Africa Biorenewable Chemicals Market by Type of Platform Chemicals
9.4.5.4.2 Rest of Middle East and Africa Biorenewable Chemicals Market by Application
9.5. SOUTH AND CENTRAL AMERICA
9.5.1 South and Central America Biorenewable Chemicals Market Overview
9.5.2 South and Central America Biorenewable Chemicals Market Forecasts and Analysis
9.5.3 South and Central America Biorenewable Chemicals Market Forecasts and Analysis - By Type of Platform Chemicals
9.5.4 South and Central America Biorenewable Chemicals Market Forecasts and Analysis - By Application
9.5.5 South and Central America Biorenewable Chemicals Market Forecasts and Analysis - By Countries
9.5.5.1 Brazil Biorenewable Chemicals Market
9.5.5.1.1 Brazil Biorenewable Chemicals Market by Type of Platform Chemicals
9.5.5.1.2 Brazil Biorenewable Chemicals Market by Application
9.5.5.2 Argentina Biorenewable Chemicals Market
9.5.5.2.1 Argentina Biorenewable Chemicals Market by Type of Platform Chemicals
9.5.5.2.2 Argentina Biorenewable Chemicals Market by Application
9.5.5.3 Rest of South and Central America Biorenewable Chemicals Market
9.5.5.3.1 Rest of South and Central America Biorenewable Chemicals Market by Type of Platform Chemicals
9.5.5.3.2 Rest of South and Central America Biorenewable Chemicals Market by Application
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. BIORENEWABLE CHEMICALS MARKET, KEY COMPANY PROFILES
11.1. AMYRIS INC.
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. BASF SE
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. E. I. DU PONT DE NEMOURS AND COMPANY
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. ELEVANCE RENEWABLE SCIENCES, INC.
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. GC INNOVATION AMERICA.
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. GENOMATICA, INC
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. GEVO, INC.
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. LANZATECH
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. ROYAL DSM N.V.
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. VIRENT ENERGY SYSTEMS, INC.
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
1. Amyris Inc.
2. BASF SE
3. E. I. du Pont de Nemours and Company
4. Elevance Renewable Sciences, Inc.
5. GC Innovation America.
6. Genomatica, Inc
7. Gevo, Inc.
8. LanzaTech
9. Royal DSM N.V.
10. Virent Energy Systems, Inc.
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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