Food Grade Alcohol Market Forecast, Trends, Scope by 2031
The Food Grade Alcohol Market is expected to register a CAGR of 3.9% from 2023 to 2031, with a market size expanding from US$ XX million in 2023 to US$ XX Million by 2031.
The Food Grade Alcohol Market report covers analysis By Type (Ethanol, Sorbitol, Xylitol, Others); Source (Sugarcane, Sugar Beet, Grains, Others); Application (Food, Beverages, Pharmaceuticals and Nutraceuticals) , and Geography (North America, Europe, Asia Pacific, and South and Central America). The global analysis is further broken-down at regional level and major countries. The Report Offers the Value in USD for the above analysis and segments.
Purpose of the ReportThe report Food Grade Alcohol 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.
Food Grade Alcohol Market Segmentation
Type- Ethanol
- Sorbitol
- Xylitol
- Sugarcane
- Sugar Beet
- Grains
- Food
- Beverages
- Pharmaceuticals and Nutraceuticals
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
Strategic Insights
Food Grade Alcohol Market Growth Drivers- Rising Alcohol Consumption: The increasing consumption of alcoholic beverages around the world is driving up demand for food-grade alcohol as per market analysis. Its uses in spirits and wines are boosting the market size considerably.
- Usage in Drugs: Food-grade alcohol is widely used in drug formulations, due to its purity and safety. This trend helps the market grow as reflected in competitive analysis, particularly in emerging economies.
- Bioethanol Production: The increasing usage of food-grade alcohol in bioethanol production for sustainable energy solutions further adds to market dynamics. Market trends point out its potential to curb the environmental concerns.
- Advanced Distillation: The growth in beverages is pushing premium spirits demand for higher-purity alcohol, key players leverage advanced distillation to maximize their market share.
- Revenue Expansion: Expansion of revenues with the pharmaceutical and personal care sector is driving industrial application use of alcohol derivatives, forecast for the market.
- Regulatory Focus: Strict compliance norms force manufacturers to adopt sustainable and eco-friendly practices, which defines the market trends across the globe.
- Application in Food Processing: Increasing demand from food processing for alcohol-based ingredients-like flavorings, extracts, and preservatives-generates growth opportunities in food-grade alcohol. This trend is very prominent in North America, where manufacturers of food products focus most on quality and safety.
- Product diversification: While more and more consumers are choosing non-alcoholic products, there is thus a fair opportunity for diversification for the food-grade alcohol market. In this regard, flavors and extracts obtained from alcohol can be targeted at health-conscious consumers, increasing market share.
- As food safety and quality regulations continue to tighten in emerging markets, food-grade alcohol becomes a popular ingredient in food production. It presents opportunities for market expansion, particularly in Asia-Pacific, where the food industry is rapidly evolving.
- Potential in Natural and Organic Food Segments:
The demand for natural and organic food products is rising, and food-grade alcohol derived from organic sources presents significant growth opportunities. Manufacturers can develop alcohol-based organic flavorings, extracts, and other ingredients to meet this growing demand.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Food Grade Alcohol 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 Food Grade Alcohol 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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- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
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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 Food Grade Alcohol Market is estimated to witness a CAGR of 3.9% from 2023 to 2031.
The major factors driving the market are: Expanding beverage industry, Rising use in pharmaceuticals, Growth in bioethanol production.
Key future trends in this market are - Rising Demand in Beverages #Industrial Applications #Regulatory Focus
Key companies of this market are: Cargill Incorporated, MGP Ingredients Inc., Archer Daniels Midland Company, Roquette Freres SA, Manildra Group, Wilmar International Limited, Molindo Group, Grain Processing Corporation, Cristalco S.A.S., Ingredion SA.
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.
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Food Grade Alcohol Market - By Type
1.3.2 Food Grade Alcohol Market - By Source
1.3.3 Food Grade Alcohol Market - By Application
1.3.4 Food Grade Alcohol Market - By Region
1.3.4.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. FOOD GRADE ALCOHOL 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. FOOD GRADE ALCOHOL 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. FOOD GRADE ALCOHOL MARKET - GLOBAL MARKET ANALYSIS
6.1. FOOD GRADE ALCOHOL - GLOBAL MARKET OVERVIEW
6.2. FOOD GRADE ALCOHOL - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. FOOD GRADE ALCOHOL MARKET - REVENUE AND FORECASTS TO 2028 - TYPE
7.1. OVERVIEW
7.2. TYPE MARKET FORECASTS AND ANALYSIS
7.3. ETHANOL
7.3.1. Overview
7.3.2. Ethanol Market Forecast and Analysis
7.4. SORBITOL
7.4.1. Overview
7.4.2. Sorbitol Market Forecast and Analysis
7.5. XYLITOL
7.5.1. Overview
7.5.2. Xylitol Market Forecast and Analysis
7.6. OTHERS
7.6.1. Overview
7.6.2. Others Market Forecast and Analysis
8. FOOD GRADE ALCOHOL MARKET - REVENUE AND FORECASTS TO 2028 - SOURCE
8.1. OVERVIEW
8.2. SOURCE MARKET FORECASTS AND ANALYSIS
8.3. SUGARCANE
8.3.1. Overview
8.3.2. Sugarcane Market Forecast and Analysis
8.4. SUGAR BEET
8.4.1. Overview
8.4.2. Sugar Beet Market Forecast and Analysis
8.5. GRAINS
8.5.1. Overview
8.5.2. Grains Market Forecast and Analysis
8.6. OTHERS
8.6.1. Overview
8.6.2. Others Market Forecast and Analysis
9. FOOD GRADE ALCOHOL MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
9.1. OVERVIEW
9.2. APPLICATION MARKET FORECASTS AND ANALYSIS
9.3. FOOD
9.3.1. Overview
9.3.2. Food Market Forecast and Analysis
9.4. BEVERAGES
9.4.1. Overview
9.4.2. Beverages Market Forecast and Analysis
9.5. PHARMACEUTICALS AND NUTRACEUTICALS
9.5.1. Overview
9.5.2. Pharmaceuticals and Nutraceuticals Market Forecast and Analysis
10. FOOD GRADE ALCOHOL MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America Food Grade Alcohol Market Overview
10.1.2 North America Food Grade Alcohol Market Forecasts and Analysis
10.1.3 North America Food Grade Alcohol Market Forecasts and Analysis - By Type
10.1.4 North America Food Grade Alcohol Market Forecasts and Analysis - By Source
10.1.5 North America Food Grade Alcohol Market Forecasts and Analysis - By Application
10.1.6 North America Food Grade Alcohol Market Forecasts and Analysis - By Countries
10.1.6.1 United States Food Grade Alcohol Market
10.1.6.1.1 United States Food Grade Alcohol Market by Type
10.1.6.1.2 United States Food Grade Alcohol Market by Source
10.1.6.1.3 United States Food Grade Alcohol Market by Application
10.1.6.2 Canada Food Grade Alcohol Market
10.1.6.2.1 Canada Food Grade Alcohol Market by Type
10.1.6.2.2 Canada Food Grade Alcohol Market by Source
10.1.6.2.3 Canada Food Grade Alcohol Market by Application
10.1.6.3 Mexico Food Grade Alcohol Market
10.1.6.3.1 Mexico Food Grade Alcohol Market by Type
10.1.6.3.2 Mexico Food Grade Alcohol Market by Source
10.1.6.3.3 Mexico Food Grade Alcohol Market by Application
10.2. EUROPE
10.2.1 Europe Food Grade Alcohol Market Overview
10.2.2 Europe Food Grade Alcohol Market Forecasts and Analysis
10.2.3 Europe Food Grade Alcohol Market Forecasts and Analysis - By Type
10.2.4 Europe Food Grade Alcohol Market Forecasts and Analysis - By Source
10.2.5 Europe Food Grade Alcohol Market Forecasts and Analysis - By Application
10.2.6 Europe Food Grade Alcohol Market Forecasts and Analysis - By Countries
10.2.6.1 Germany Food Grade Alcohol Market
10.2.6.1.1 Germany Food Grade Alcohol Market by Type
10.2.6.1.2 Germany Food Grade Alcohol Market by Source
10.2.6.1.3 Germany Food Grade Alcohol Market by Application
10.2.6.2 France Food Grade Alcohol Market
10.2.6.2.1 France Food Grade Alcohol Market by Type
10.2.6.2.2 France Food Grade Alcohol Market by Source
10.2.6.2.3 France Food Grade Alcohol Market by Application
10.2.6.3 Italy Food Grade Alcohol Market
10.2.6.3.1 Italy Food Grade Alcohol Market by Type
10.2.6.3.2 Italy Food Grade Alcohol Market by Source
10.2.6.3.3 Italy Food Grade Alcohol Market by Application
10.2.6.4 United Kingdom Food Grade Alcohol Market
10.2.6.4.1 United Kingdom Food Grade Alcohol Market by Type
10.2.6.4.2 United Kingdom Food Grade Alcohol Market by Source
10.2.6.4.3 United Kingdom Food Grade Alcohol Market by Application
10.2.6.5 Russia Food Grade Alcohol Market
10.2.6.5.1 Russia Food Grade Alcohol Market by Type
10.2.6.5.2 Russia Food Grade Alcohol Market by Source
10.2.6.5.3 Russia Food Grade Alcohol Market by Application
10.2.6.6 Rest of Europe Food Grade Alcohol Market
10.2.6.6.1 Rest of Europe Food Grade Alcohol Market by Type
10.2.6.6.2 Rest of Europe Food Grade Alcohol Market by Source
10.2.6.6.3 Rest of Europe Food Grade Alcohol Market by Application
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific Food Grade Alcohol Market Overview
10.3.2 Asia-Pacific Food Grade Alcohol Market Forecasts and Analysis
10.3.3 Asia-Pacific Food Grade Alcohol Market Forecasts and Analysis - By Type
10.3.4 Asia-Pacific Food Grade Alcohol Market Forecasts and Analysis - By Source
10.3.5 Asia-Pacific Food Grade Alcohol Market Forecasts and Analysis - By Application
10.3.6 Asia-Pacific Food Grade Alcohol Market Forecasts and Analysis - By Countries
10.3.6.1 Australia Food Grade Alcohol Market
10.3.6.1.1 Australia Food Grade Alcohol Market by Type
10.3.6.1.2 Australia Food Grade Alcohol Market by Source
10.3.6.1.3 Australia Food Grade Alcohol Market by Application
10.3.6.2 China Food Grade Alcohol Market
10.3.6.2.1 China Food Grade Alcohol Market by Type
10.3.6.2.2 China Food Grade Alcohol Market by Source
10.3.6.2.3 China Food Grade Alcohol Market by Application
10.3.6.3 India Food Grade Alcohol Market
10.3.6.3.1 India Food Grade Alcohol Market by Type
10.3.6.3.2 India Food Grade Alcohol Market by Source
10.3.6.3.3 India Food Grade Alcohol Market by Application
10.3.6.4 Japan Food Grade Alcohol Market
10.3.6.4.1 Japan Food Grade Alcohol Market by Type
10.3.6.4.2 Japan Food Grade Alcohol Market by Source
10.3.6.4.3 Japan Food Grade Alcohol Market by Application
10.3.6.5 South Korea Food Grade Alcohol Market
10.3.6.5.1 South Korea Food Grade Alcohol Market by Type
10.3.6.5.2 South Korea Food Grade Alcohol Market by Source
10.3.6.5.3 South Korea Food Grade Alcohol Market by Application
10.3.6.6 Rest of Asia-Pacific Food Grade Alcohol Market
10.3.6.6.1 Rest of Asia-Pacific Food Grade Alcohol Market by Type
10.3.6.6.2 Rest of Asia-Pacific Food Grade Alcohol Market by Source
10.3.6.6.3 Rest of Asia-Pacific Food Grade Alcohol Market by Application
10.4. MIDDLE EAST AND AFRICA
10.4.1 Middle East and Africa Food Grade Alcohol Market Overview
10.4.2 Middle East and Africa Food Grade Alcohol Market Forecasts and Analysis
10.4.3 Middle East and Africa Food Grade Alcohol Market Forecasts and Analysis - By Type
10.4.4 Middle East and Africa Food Grade Alcohol Market Forecasts and Analysis - By Source
10.4.5 Middle East and Africa Food Grade Alcohol Market Forecasts and Analysis - By Application
10.4.6 Middle East and Africa Food Grade Alcohol Market Forecasts and Analysis - By Countries
10.4.6.1 South Africa Food Grade Alcohol Market
10.4.6.1.1 South Africa Food Grade Alcohol Market by Type
10.4.6.1.2 South Africa Food Grade Alcohol Market by Source
10.4.6.1.3 South Africa Food Grade Alcohol Market by Application
10.4.6.2 Saudi Arabia Food Grade Alcohol Market
10.4.6.2.1 Saudi Arabia Food Grade Alcohol Market by Type
10.4.6.2.2 Saudi Arabia Food Grade Alcohol Market by Source
10.4.6.2.3 Saudi Arabia Food Grade Alcohol Market by Application
10.4.6.3 U.A.E Food Grade Alcohol Market
10.4.6.3.1 U.A.E Food Grade Alcohol Market by Type
10.4.6.3.2 U.A.E Food Grade Alcohol Market by Source
10.4.6.3.3 U.A.E Food Grade Alcohol Market by Application
10.4.6.4 Rest of Middle East and Africa Food Grade Alcohol Market
10.4.6.4.1 Rest of Middle East and Africa Food Grade Alcohol Market by Type
10.4.6.4.2 Rest of Middle East and Africa Food Grade Alcohol Market by Source
10.4.6.4.3 Rest of Middle East and Africa Food Grade Alcohol Market by Application
10.5. SOUTH AND CENTRAL AMERICA
10.5.1 South and Central America Food Grade Alcohol Market Overview
10.5.2 South and Central America Food Grade Alcohol Market Forecasts and Analysis
10.5.3 South and Central America Food Grade Alcohol Market Forecasts and Analysis - By Type
10.5.4 South and Central America Food Grade Alcohol Market Forecasts and Analysis - By Source
10.5.5 South and Central America Food Grade Alcohol Market Forecasts and Analysis - By Application
10.5.6 South and Central America Food Grade Alcohol Market Forecasts and Analysis - By Countries
10.5.6.1 Brazil Food Grade Alcohol Market
10.5.6.1.1 Brazil Food Grade Alcohol Market by Type
10.5.6.1.2 Brazil Food Grade Alcohol Market by Source
10.5.6.1.3 Brazil Food Grade Alcohol Market by Application
10.5.6.2 Argentina Food Grade Alcohol Market
10.5.6.2.1 Argentina Food Grade Alcohol Market by Type
10.5.6.2.2 Argentina Food Grade Alcohol Market by Source
10.5.6.2.3 Argentina Food Grade Alcohol Market by Application
10.5.6.3 Rest of South and Central America Food Grade Alcohol Market
10.5.6.3.1 Rest of South and Central America Food Grade Alcohol Market by Type
10.5.6.3.2 Rest of South and Central America Food Grade Alcohol Market by Source
10.5.6.3.3 Rest of South and Central America Food Grade Alcohol Market by Application
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. FOOD GRADE ALCOHOL MARKET, KEY COMPANY PROFILES
12.1. CARGILL INCORPORATED
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. MGP INGREDIENTS INC.
12.2.1. Key Facts
12.2.2. Business Description
12.2.3. Products and Services
12.2.4. Financial Overview
12.2.5. SWOT Analysis
12.2.6. Key Developments
12.3. ARCHER DANIELS MIDLAND COMPANY
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. ROQUETTE FRERES SA
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. MANILDRA GROUP
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. WILMAR INTERNATIONAL LIMITED
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. MOLINDO 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. GRAIN PROCESSING CORPORATION
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. CRISTALCO S.A.S.
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. INGREDION
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. Cargill Incorporated
2. MGP Ingredients Inc.
3. Archer Daniels Midland Company
4. Roquette Freres SA
5. Manildra Group
6. Wilmar International Limited
7. Molindo Group
8. Grain Processing Corporation
9. Cristalco S.A.S.
10. Ingredion
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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