Lactic Acid Esters Market Dynamics - 2021 to 2031
The Lactic Acid Esters Market is expected to register a CAGR of 4% from 2023 to 2031, with a market size expanding from US$ XX Million in 2023 to US$ XX Million by 2031.
The report is segmented by type (ethyl lactate, methyl lactate, butyl lactate and others). The report further presents analysis based on end-use industry (electronics, food and beverages, paints and coatings, agrochemicals, 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 Lactic Acid Esters 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.
Lactic Acid Esters Market Segmentation
Type- Ethyl Lactate
- Methyl Lactate
- Butyl Lactate and Others
- Electronics
- Food and Beverages
- Paints and Coatings
- Agrochemicals
- Pharmaceuticals and Others
Strategic Insights
Lactic Acid Esters Market Growth Drivers- Application of Lactic Acid Esters in Food and Beverages Sector: The food and beverage sector is one of the significant markets for lactic acid esters, especially as emulsifiers, stabilizers, and flavor enhancers. There is now an increasing emphasis on safe and quality food. Hence, food manufacturers search for natural and environmentally friendly additives for better formulation. As lactic acid esters are proven to be non-toxic and eco-friendly, they are also being used widely in food applications. The clean-label product trend and consumer interest in natural ingredients also benefit this market. Consequently, lactic acid esters are a preferred option for formulators.
- Increasing Demand from Personal Care and Cosmetics Industry: The personal care and cosmetics industry is another crucial lactic acid esters market potential. These ester emollients and moisturizing properties are incorporated in the formulation of lotions, creams, and other skincare products, hair care products, and make-up products. The skincare market growth and focus on organic and natural ingredients has made several brands consider lactic acid esters for their products instead of using chemical ingredients that can be harmful to consumers. This change brings about the need to develop more products that contain lactic acid esters and, thus, more growth in the market.
- Growing Demand for Sustainable and Biodegradable Materials: A significant factor impacting the growth of the lactic acid esters market is the increasing demand for sustainable and biodegradable materials. Due to increasing environmental awareness, most industries want to replace traditional plastics. Lactic acid esters are also employed in the manufacturing of new polylactic acid (PLA) materials, an environmentally friendly polymer, which is produced using raw materials from nature. The trend of using biodegradable and biodegradable and lactic acid-based esters, where they are being used in bioplastics is increasing with many industries, including food, consumer goods, and electronics, wanting eco-friendly packaging solutions. The market for lactic acid esters is likely to grow as global restrictions on the use of plastic become more stringent.
- Innovation in Fermentation Technology: Fermentation processes play an essential role in producing lactic acid and its esters. Progress in fermentation technology, mainly using a more proficient fermentation dependent on genetically altered microorganisms and well-controlled fermentation, is improving lactic acid production. These developments are curbing the costs associated with production and widening the range of available lactic acid esters to satisfy the rising demand from industries.
- Sustainability Trend: As the trend of sustainability revolves in most industries, it is seen that the materials for making lactic acid esters tend to be biodegradable or derived from renewable sources. The focus is already on recycling raw materials like agricultural wastes and by-products for lactic acid production, to which more and more research funding is directed. Such a change reduces environmental pollution and coincides with consumer prospects for products with sustainable and ethical sourcing.
- Multi-Functional Product Trend: The multi-functional product trend is in ascent in the lactic acid esters market. Companies are now focusing on enhancing lactic acid esters to include stability, better texture, and nutrition, among other features. Such multi-functional esters tend to be preferred by formulators wishing to simplify product blends while improving efficacy, spurring market growth.
- Rising Demand in Emerging Economies: Emerging economies, particularly in Asia, Latin America, and Africa, present a significant leeway for lactic acid ester players. This is attributed to the rapid industrialization, urbanization, and rising disposable income in these regions, which lead to increased food, personal care, and packaging products. Companies can encroach on these markets and avoid competition by creating custom-made products for the specific markets and reaching new customer bases during growth.
- Investment in Research and Development: R&D is one of the factors that propel the growth of lactic acid esters and, more so, their derivatives. While such companies may embark on developing new esters, improving the functionality of the existing esters or looking for new uses of the existing esters may be a more feasible option. This will be necessary for R &D purposes so that these manufacturers do not lag or resist the shifts in the demand dynamics, for instance the quest for greener and more bio-sourced products.
- Establishing Relations with Industry Stakeholders: In addition, establishing relations with other markets’ stakeholders, i.e., food, cosmetic, and plastic manufacturing industries, may also be helpful to the growth of lactic acid ester producers. It also enables new levels of synergy or economies of scale to be utilized and new markets to be penetrated. Thus, brands and formulators can partner and enable the companies to develop products geared towards specific markets, thus creating better visibility.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Lactic Acid Esters 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 Lactic Acid Esters 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
Advancement fermentation technology is expected to be the key market trends
Based on geography, North America held the significant share of the lactic acid esters market due to growth in the food and beverage sector
Based on end-use industry, pharmaceuticals segment is expected to witness the fastest growth during the forecast period
Rising demand in the food and beverage sector is driving the market growth
Cellulac Plc; Corbion NV; Henan Jindan Lactic Acid Technology Co Ltd; Merck KGaA; Stephan Company are some of the key players operating in the lactic acid esters market
The Lactic Acid Esters Market is estimated to witness a CAGR of 4% from 2023 to 2031
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Lactic Acid Esters Market - By Type
1.3.2 Lactic Acid Esters Market - By Application
1.3.3 Lactic Acid Esters Market - By Region
1.3.3.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. LACTIC ACID ESTERS 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. LACTIC ACID ESTERS 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. LACTIC ACID ESTERS MARKET - GLOBAL MARKET ANALYSIS
6.1. LACTIC ACID ESTERS - GLOBAL MARKET OVERVIEW
6.2. LACTIC ACID ESTERS - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. LACTIC ACID ESTERS MARKET - REVENUE AND FORECASTS TO 2028 - TYPE
7.1. OVERVIEW
7.2. TYPE MARKET FORECASTS AND ANALYSIS
7.3. ETHYL LACTATE
7.3.1. Overview
7.3.2. Ethyl Lactate Market Forecast and Analysis
7.4. METHYL LACTATE
7.4.1. Overview
7.4.2. Methyl Lactate Market Forecast and Analysis
7.5. BUTYL LACTATE
7.5.1. Overview
7.5.2. Butyl Lactate Market Forecast and Analysis
7.6. OTHERS
7.6.1. Overview
7.6.2. Others Market Forecast and Analysis
8. LACTIC ACID ESTERS MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
8.1. OVERVIEW
8.2. APPLICATION MARKET FORECASTS AND ANALYSIS
8.3. ELECTRONICS
8.3.1. Overview
8.3.2. Electronics Market Forecast and Analysis
8.4. FOOD AND BEVERAGES
8.4.1. Overview
8.4.2. Food and Beverages Market Forecast and Analysis
8.5. PAINTS AND INKS
8.5.1. Overview
8.5.2. Paints and Inks Market Forecast and Analysis
8.6. AGROCHEMICALS
8.6.1. Overview
8.6.2. Agrochemicals Market Forecast and Analysis
8.7. PHARMACEUTICALS
8.7.1. Overview
8.7.2. Pharmaceuticals Market Forecast and Analysis
9. LACTIC ACID ESTERS MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
9.1. NORTH AMERICA
9.1.1 North America Lactic Acid Esters Market Overview
9.1.2 North America Lactic Acid Esters Market Forecasts and Analysis
9.1.3 North America Lactic Acid Esters Market Forecasts and Analysis - By Type
9.1.4 North America Lactic Acid Esters Market Forecasts and Analysis - By Application
9.1.5 North America Lactic Acid Esters Market Forecasts and Analysis - By Countries
9.1.5.1 United States Lactic Acid Esters Market
9.1.5.1.1 United States Lactic Acid Esters Market by Type
9.1.5.1.2 United States Lactic Acid Esters Market by Application
9.1.5.2 Canada Lactic Acid Esters Market
9.1.5.2.1 Canada Lactic Acid Esters Market by Type
9.1.5.2.2 Canada Lactic Acid Esters Market by Application
9.1.5.3 Mexico Lactic Acid Esters Market
9.1.5.3.1 Mexico Lactic Acid Esters Market by Type
9.1.5.3.2 Mexico Lactic Acid Esters Market by Application
9.2. EUROPE
9.2.1 Europe Lactic Acid Esters Market Overview
9.2.2 Europe Lactic Acid Esters Market Forecasts and Analysis
9.2.3 Europe Lactic Acid Esters Market Forecasts and Analysis - By Type
9.2.4 Europe Lactic Acid Esters Market Forecasts and Analysis - By Application
9.2.5 Europe Lactic Acid Esters Market Forecasts and Analysis - By Countries
9.2.5.1 Germany Lactic Acid Esters Market
9.2.5.1.1 Germany Lactic Acid Esters Market by Type
9.2.5.1.2 Germany Lactic Acid Esters Market by Application
9.2.5.2 France Lactic Acid Esters Market
9.2.5.2.1 France Lactic Acid Esters Market by Type
9.2.5.2.2 France Lactic Acid Esters Market by Application
9.2.5.3 Italy Lactic Acid Esters Market
9.2.5.3.1 Italy Lactic Acid Esters Market by Type
9.2.5.3.2 Italy Lactic Acid Esters Market by Application
9.2.5.4 United Kingdom Lactic Acid Esters Market
9.2.5.4.1 United Kingdom Lactic Acid Esters Market by Type
9.2.5.4.2 United Kingdom Lactic Acid Esters Market by Application
9.2.5.5 Russia Lactic Acid Esters Market
9.2.5.5.1 Russia Lactic Acid Esters Market by Type
9.2.5.5.2 Russia Lactic Acid Esters Market by Application
9.2.5.6 Rest of Europe Lactic Acid Esters Market
9.2.5.6.1 Rest of Europe Lactic Acid Esters Market by Type
9.2.5.6.2 Rest of Europe Lactic Acid Esters Market by Application
9.3. ASIA-PACIFIC
9.3.1 Asia-Pacific Lactic Acid Esters Market Overview
9.3.2 Asia-Pacific Lactic Acid Esters Market Forecasts and Analysis
9.3.3 Asia-Pacific Lactic Acid Esters Market Forecasts and Analysis - By Type
9.3.4 Asia-Pacific Lactic Acid Esters Market Forecasts and Analysis - By Application
9.3.5 Asia-Pacific Lactic Acid Esters Market Forecasts and Analysis - By Countries
9.3.5.1 Australia Lactic Acid Esters Market
9.3.5.1.1 Australia Lactic Acid Esters Market by Type
9.3.5.1.2 Australia Lactic Acid Esters Market by Application
9.3.5.2 China Lactic Acid Esters Market
9.3.5.2.1 China Lactic Acid Esters Market by Type
9.3.5.2.2 China Lactic Acid Esters Market by Application
9.3.5.3 India Lactic Acid Esters Market
9.3.5.3.1 India Lactic Acid Esters Market by Type
9.3.5.3.2 India Lactic Acid Esters Market by Application
9.3.5.4 Japan Lactic Acid Esters Market
9.3.5.4.1 Japan Lactic Acid Esters Market by Type
9.3.5.4.2 Japan Lactic Acid Esters Market by Application
9.3.5.5 South Korea Lactic Acid Esters Market
9.3.5.5.1 South Korea Lactic Acid Esters Market by Type
9.3.5.5.2 South Korea Lactic Acid Esters Market by Application
9.3.5.6 Rest of Asia-Pacific Lactic Acid Esters Market
9.3.5.6.1 Rest of Asia-Pacific Lactic Acid Esters Market by Type
9.3.5.6.2 Rest of Asia-Pacific Lactic Acid Esters Market by Application
9.4. MIDDLE EAST AND AFRICA
9.4.1 Middle East and Africa Lactic Acid Esters Market Overview
9.4.2 Middle East and Africa Lactic Acid Esters Market Forecasts and Analysis
9.4.3 Middle East and Africa Lactic Acid Esters Market Forecasts and Analysis - By Type
9.4.4 Middle East and Africa Lactic Acid Esters Market Forecasts and Analysis - By Application
9.4.5 Middle East and Africa Lactic Acid Esters Market Forecasts and Analysis - By Countries
9.4.5.1 South Africa Lactic Acid Esters Market
9.4.5.1.1 South Africa Lactic Acid Esters Market by Type
9.4.5.1.2 South Africa Lactic Acid Esters Market by Application
9.4.5.2 Saudi Arabia Lactic Acid Esters Market
9.4.5.2.1 Saudi Arabia Lactic Acid Esters Market by Type
9.4.5.2.2 Saudi Arabia Lactic Acid Esters Market by Application
9.4.5.3 U.A.E Lactic Acid Esters Market
9.4.5.3.1 U.A.E Lactic Acid Esters Market by Type
9.4.5.3.2 U.A.E Lactic Acid Esters Market by Application
9.4.5.4 Rest of Middle East and Africa Lactic Acid Esters Market
9.4.5.4.1 Rest of Middle East and Africa Lactic Acid Esters Market by Type
9.4.5.4.2 Rest of Middle East and Africa Lactic Acid Esters Market by Application
9.5. SOUTH AND CENTRAL AMERICA
9.5.1 South and Central America Lactic Acid Esters Market Overview
9.5.2 South and Central America Lactic Acid Esters Market Forecasts and Analysis
9.5.3 South and Central America Lactic Acid Esters Market Forecasts and Analysis - By Type
9.5.4 South and Central America Lactic Acid Esters Market Forecasts and Analysis - By Application
9.5.5 South and Central America Lactic Acid Esters Market Forecasts and Analysis - By Countries
9.5.5.1 Brazil Lactic Acid Esters Market
9.5.5.1.1 Brazil Lactic Acid Esters Market by Type
9.5.5.1.2 Brazil Lactic Acid Esters Market by Application
9.5.5.2 Argentina Lactic Acid Esters Market
9.5.5.2.1 Argentina Lactic Acid Esters Market by Type
9.5.5.2.2 Argentina Lactic Acid Esters Market by Application
9.5.5.3 Rest of South and Central America Lactic Acid Esters Market
9.5.5.3.1 Rest of South and Central America Lactic Acid Esters Market by Type
9.5.5.3.2 Rest of South and Central America Lactic Acid Esters 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. LACTIC ACID ESTERS MARKET, KEY COMPANY PROFILES
11.1. CELLULAC PLC
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. CORBION N. V.
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. HENAN JINDAN LACTIC ACID TECHNOLOGY CO.LTD
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. MERCK KGAA
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. QINGDAO ABEL TECHNOLOGY CO.LTD
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. SHANDONG ENNO NEW MATERIAL CO., LTD
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. SHANGHAI RUIZHENG CHEMICAL TECHNOLOGY CO LTD
11.7.1. Key Facts
11.7.2. Business Description
11.7.3. Products and Services
11.7.4. Financial Overview
11.7.5. SWOT Analysis
11.7.6. Key Developments
11.8. SHENZHEN ESUN INDUSTRIAL CO
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. STEPHAN COMPANY
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. ZHENGZHOU TIANRUN LACTIC ACID CO., LTD
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
1. Cellulac Plc
2. Corbion N. V.
3. Henan Jindan Lactic Acid Technology Co.Ltd
4. Merck KGaA
5. Qingdao Abel Technology Co.Ltd
6. Shandong Enno New Material Co., Ltd
7. Shanghai Ruizheng Chemical Technology Co Ltd
8. Shenzhen Esun Industrial Co
9. Stephan Company
10. Zhengzhou Tianrun Lactic Acid 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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