Latin America Diapers Market to 2030 - Growth, Size, Share, Trends
The Latin America diapers market is projected to grow from US$ 8.47 billion in 2022 to US$ 11.70 billion by 2030. The market is expected to record a CAGR of 4.1% from 2022 to 2030. The report includes growth prospects owing to the current Latin America diapers market trends and their foreseeable impact during the forecast period.
Market Insights and Analyst View:
Diapers are among the integral parts of parents’ lives and caregivers. Diapers are being evolved with various eco-friendly options that help shape a sustainable future. Despite the concerns of overpopulation, there is a steady rise in birth rates, which increases the demand for diapers subsequently. Further, owing to fast-paced life, parents have limited time to dedicate to traditional cloth diapering. This has led to switching over to disposable diapers—a convenient solution. Apart from diapers being used for neonates, adult diapers have also gained significant traction to address the issues of incontinence, patients who are bed-bound in a hospital, and people working in extreme conditions, such as astronauts. Thus, the high demand for diapers across various Latin American countries is anticipated to drive the Latin America diapers market
Growth Drivers and Challenges:
The increasing aging population in Latin America and Caribbean countries is a significant driver for the adult diaper market. As life expectancy increases, countries across the region are facing significant demographic shifts, resulting in a larger proportion of elderly citizens. According to the CAF – Development Bank of Latin America and the Caribbean, in 2020, around 8% of the population in Latin America was aged 65 years, and this figure is expected to double to 17.5% and exceed 30% by the end of 2030. With the demographic transition comes an increased demand for products and services tailored to the needs of adults, including incontinence management solutions such as adult diapers. Incontinence leads to involuntary leakage of urine or feces due to the loss of bladder or bowel control. It is a common issue reported among older adults, primarily caused due to weakened pelvic muscles and specific health conditions as one progresses in age. Therefore, the growing aging population directly correlates to an increasing prevalence of incontinence, thereby driving demand for adult diapers.
Many older adults often opt for long-term care in assisted living facilities, nursing homes, or in their homes. Adult diapers are crucial in these settings for managing incontinence while maintaining hygiene and ensuring comfort of older people. Using adult diapers allows older incontinent adults to lead more independent and active lives. By providing a reliable solution for incontinence, adult diapers enable individuals to participate in social activities, maintain personal hygiene, and avoid embarrassing situations.
Further, the adult diaper industry has witnessed significant advancements in product design and technology to improve the performance and comfort of adult diapers. Manufacturers have introduced more discreet, absorbent, and comfortable products catering to the specific needs of older adults. These innovations and the growing aging population have together boosted the demand for adult diapers in Latin America. Therefore, these factors play important role in determining Latin America diapers market forecast.
However, harmonizing regulations standards across Latin America presents challenges due to the diverse political, economic, and social content within the region. In addition, there has been a growing emphasis on sustainability and environmental considerations in regulatory compliance for diapers in Latin America. Governments in the region have imposed strict regulations regarding the disposable and recycling of used products, including diapers. Thus, regulatory compliance may hamper the Latin America diapers market growth.
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Latin America Diapers Market: Strategic Insights
Market Size Value in US$ 8.47 billion in 2022 Market Size Value by US$ 11.70 billion by 2030 Growth rate CAGR of 4.1% from 2022 to 2030 Forecast Period 2022-2030 Base Year 2022
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Latin America Diapers Market: Strategic Insights
| Market Size Value in | US$ 8.47 billion in 2022 |
| Market Size Value by | US$ 11.70 billion by 2030 |
| Growth rate | CAGR of 4.1% from 2022 to 2030 |
| Forecast Period | 2022-2030 |
| Base Year | 2022 |
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Report Segmentation and Scope:
The Latin America diapers market analysis is carried out by considering the following segments: product type, end user, category, and distribution channel. Based on product type, the market is divided into pull-up diapers, tape on diapers, and others. By end user, the market is bifurcated into adults and baby/kids. The market, by category, is bifurcated into reusable and disposable. In terms of distribution channel, the market is segmented into supermarkets and hypermarkets, specialty stores, online retail, and others.
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Segmental Analysis:
Based on product type, the Latin America diapers market is segmented into pull-up diapers, tape on diapers, and others. The tape-on diapers segment holds a significant Latin America diapers market share. Tape-on diapers are more cost-effective than pull-up diapers. Tapped diapers make changing diapers easier by making removal and adjustment simpler than pull-up diapers. These diapers have adjustable tabs that allow for a personalized fit around the baby's or adult's waist, guaranteeing a snug and secure fit. These factors boosting the market growth for the segment.
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Country Analysis:
The increasing aging population in Latin America is a significant driver for the Latin America diapers market. According to the CAF – Development Bank of Latin America and the Caribbean, in 2020, around 8% of the population was Latin America was 65 years and this figure is expected to double to 17.5% and to exceed 30% by the end of 2030. The aging population has a greater likelihood of experiencing incontinence issues. Further, with more working women population, a growing reliance on convenience products such as disposable diapers over traditional cloth alternatives have been observed. Marketing and advertising efforts by diaper manufacturers have significantly influenced consumer behavior.
Moreover, manufacturers in the market are taking initiatives to offer products that support customers' sustainability goals. For instance, in December 2020, packaging and paper manufacturing company Mondi announced the development of a paper-based packaging solution for Drylock Technologies’ baby diapers. Thus, the increasing innovations in diapers are expected to fuel the Latin America diapers market growth during the forecast period.
The scope of the Latin America diapers market report focuses on Nicaragua, Dominica, Peru, Venezuela, and Rest of Latin America. Peru holds a significant Latin America diapers market share in 2022. In Peru, the education and awareness campaigns on infant care and hygiene have become more widespread in these countries. For instance, in February 2022, the Pan American Health Organization (PAHO), through its Latin American Centre for Perinatology (CLAP), announced the launch of a campaign to raise awareness and promote quality care of newborns in countries such as Peru, Colombia, Brazil, and other countries. Further, the increasing trend of biodegradable and reusable diapers reflects a growing awareness of environmental sustainability and a shift toward eco-friendly consumer choices. This has resulted in demand for reusable and eco-friendly diapers in the country. Thus, the above-mentioned factors are boosting the Latin America diapers market size. Moreover, the demand for diapers is increasing in Venezuela due to rising aging population, changing lifestyle, and rising neonatal health awareness. With the rising disposable income, more families have the purchasing power to afford disposable diapers over traditional cloth alternatives, resulting in demand for diapers in the country. This trend will continue as the urbanization rate increases and consumer preferences shift toward more convenient and hygienic childcare products.
Industry Developments and Future Opportunities:
As per company press releases, a few initiatives taken by key players operating in the Latin America diapers market are listed below:
- In August 2023, Kimberly-Clark’s brand, Huggies, and UNICEF renewed their partnership to improve the lives of babies in Latin America. Through this partnership, Huggies will reach 4.5 million babies, families, caregivers, and health professionals in 15 countries in the region, which will subsequently result in growing demand for diapers and thus drive the market for diapers to promote neonatal hygiene.
Competitive Landscape and Key Companies:
The Procter & Gamble Co, Softys Brazil Ltd, Drylock Technologies NV, Kimberly-Clark Corp, Johnson & Johnson, Ontex Group BV, Tecnochemicals SA, JL Morison (India) Ltd, Hayat Kimya Sanayi AS, and Paul Hartmann AG are among the prominent players profiled in the Latin America diapers market report. These market players adopt strategic development initiatives to expand their businesses, further driving the market.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Product Type, End User, Category, and Distributional Channel
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
1. Introduction
1.1 The Insight Partners Research Report Guidance
1.2 Market Segmentation
2. Executive Summary
2.1 Key Insights
2.2 Market Attractiveness
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
3.4 Limitations and Assumptions
4. Diapers Market Landscape
4.1 Overview
4.2 Porter's Five Forces Analysis
4.2.1 Bargaining Power of Suppliers
4.2.2 Bargaining Power of Buyers
4.2.3 Threat of New Entrants
4.2.4 Competitive Rivalry
4.2.5 Threat of Substitutes
4.3 Ecosystem Analysis
4.3.1 Raw Material Suppliers
4.3.2 Manufacturers
4.3.3 Distributors or Suppliers
4.3.4 Distribution Channel
4.4 List of Vendors in the Value Chain
5. Diapers Market – Key Market Dynamics
5.1 Diapers Market – Key Market Dynamics
5.2 Market Drivers
5.2.1 Increasing Awareness Regarding Neonatal Hygiene
5.2.2 Rising Adoption of Diapers by the Elderly
5.3 Market Restraints
5.3.1 Regulatory Compliances
5.4 Market Opportunities
5.4.1 Increasing Innovations in Diapers Market
5.5 Future Trends
5.5.1 Increasing Trend of Biodegradable and Reusable Diapers
5.6 Impact of Drivers and Restraints:
6. Diapers Market – Latin America Market Analysis
6.1 Diapers Market Revenue (US$ Million), 2020–2030
6.2 Diapers Market Forecast Analysis
7. Diapers Market Analysis – by Product Type
7.1 Pull-up Diapers
7.1.1 Overview
7.1.2 Pull-up Diapers: Diapers Market – Revenue and Forecast to 2030 (US$ Million)
7.2 Tape-on Diapers
7.2.1 Overview
7.2.2 Tape-on Diapers: Diapers Market – Revenue and Forecast to 2030 (US$ Million)
8. Diapers Market Analysis – by End User
8.1 Adults
8.1.1 Overview
8.1.2 Adults: Diapers Market – Revenue and Forecast to 2030 (US$ Million)
8.2 Baby/Kids
8.2.1 Overview
8.2.2 Baby/Kids: Diapers Market – Revenue and Forecast to 2030 (US$ Million)
9. Diapers Market Analysis – by Category
9.1 Reusable
9.1.1 Overview
9.1.2 Reusable: Diapers Market – Revenue and Forecast to 2030 (US$ Million)
9.2 Disposable
9.2.1 Overview
9.2.2 Disposable: Diapers Market – Revenue and Forecast to 2030 (US$ Million)
10. Diapers Market Analysis – by Distribution Channel
10.1 Supermarkets and Hypermarket
10.1.1 Overview
10.1.2 Supermarkets and Hypermarket: Diapers Market – Revenue and Forecast to 2030 (US$ Million)
10.2 Specialty Stores
10.2.1 Overview
10.2.2 Specialty Stores: Diapers Market – Revenue and Forecast to 2030 (US$ Million)
10.3 Online Retail
10.3.1 Overview
10.3.2 Online Retail: Diapers Market – Revenue and Forecast to 2030 (US$ Million)
10.4 Others
10.4.1 Overview
10.4.2 Others: Diapers Market – Revenue and Forecast to 2030 (US$ Million)
11. Latin America Diapers Market – Country Analysis
11.1 Overview
11.2 Latin America
11.2.1 Latin America Diapers Market Overview
11.2.2 Latin America: Diapers Market – Revenue and Forecast Analysis – by Country
11.2.2.1 Latin America: Diapers Market – Revenue and Forecast Analysis – by Country
11.2.2.2 Nicaragua: Diapers Market – Revenue and Forecast to 2030 (US$ Million)
11.2.2.2.1 Nicaragua: Diapers Market Breakdown, by Product Type
11.2.2.2.2 Nicaragua: Diapers Market Breakdown, End User
11.2.2.2.3 Nicaragua: Diapers Market Breakdown, Category
11.2.2.2.4 Nicaragua: Diapers Market Breakdown, Distribution Channel
11.2.2.3 Domanica: Diapers Market – Revenue and Forecast to 2030 (US$ Million)
11.2.2.3.1 Domanica: Diapers Market Breakdown, by Product Type
11.2.2.3.2 Domanica: Diapers Market Breakdown, End User
11.2.2.3.3 Domanica: Diapers Market Breakdown, Category
11.2.2.3.4 Domanica: Diapers Market Breakdown, Distribution Channel
11.2.2.4 Peru: Diapers Market – Revenue and Forecast to 2030 (US$ Million)
11.2.2.4.1 Peru: Diapers Market Breakdown, by Product Type
11.2.2.4.2 Peru: Diapers Market Breakdown, End User
11.2.2.4.3 Peru: Diapers Market Breakdown, Category
11.2.2.4.4 Peru: Diapers Market Breakdown, Distribution Channel
11.2.2.5 Venezuela: Diapers Market – Revenue and Forecast to 2030 (US$ Million)
11.2.2.5.1 Venezuela: Diapers Market Breakdown, by Product Type
11.2.2.5.2 Venezuela: Diapers Market Breakdown, End User
11.2.2.5.3 Venezuela: Diapers Market Breakdown, Category
11.2.2.5.4 Venezuela: Diapers Market Breakdown, Distribution Channel
6.2.2.6 Rest of Latin America: Diapers Market – Revenue and Forecast to 2030 (US$ Million)
6.2.2.6.1 Rest of Latin America: Diapers Market Breakdown, by Product Type
6.2.2.6.2 Rest of Latin America: Diapers Market Breakdown, End User
6.2.2.6.3 Rest of Latin America: Diapers Market Breakdown, Category
6.2.2.6.4 Rest of Latin America: Diapers Market Breakdown, Distribution Channel
12. Latin America Diapers Market – Impact of COVID-19 Pandemic
12.1 Pre & Post COVID-19 Impact
13. Competitive Landscape
13.1 Heat Map Analysis by Key Players
13.2 Company Positioning & Concentration
14. Company Profiles
14.1 THE PROCTER & GAMBLE CO
14.1.1 Key Facts
14.1.2 Business Description
14.1.3 Products and Services
14.1.4 Financial Overview
14.1.5 SWOT Analysis
14.1.6 Key Developments
14.2 SOFTYS BRAZIL LTDA
14.2.1 Key Facts
14.2.2 Business Description
14.2.3 Products and Services
14.2.4 Financial Overview
14.2.5 SWOT Analysis
14.2.6 Key Developments
14.3 DRYLOCK TECHNOLOGIES NV
14.3.1 Key Facts
14.3.2 Business Description
14.3.3 Products and Services
14.3.4 Financial Overview
14.3.5 SWOT Analysis
14.3.6 Key Developments
14.4 KIMBERLY-CLARK CORP
14.4.1 Key Facts
14.4.2 Business Description
14.4.3 Products and Services
14.4.4 Financial Overview
14.4.5 SWOT Analysis
14.4.6 Key Developments
14.5 JOHNSON & JOHNSON
14.5.1 Key Facts
14.5.2 Business Description
14.5.3 Products and Services
14.5.4 Financial Overview
14.5.5 SWOT Analysis
14.5.6 Key Developments
14.6 ONTEX GROUP BV
14.6.1 Key Facts
14.6.2 Business Description
14.6.3 Products and Services
14.6.4 Financial Overview
14.6.5 SWOT Analysis
14.6.6 Key Developments
14.7 TECNOCHEMICALS SA
14.7.1 Key Facts
14.7.2 Business Description
14.7.3 Products and Services
14.7.4 Financial Overview
14.7.5 SWOT Analysis
14.7.6 Key Developments
14.8 JL MORISON (INDIA) LTD
14.8.1 Key Facts
14.8.2 Business Description
14.8.3 Products and Services
14.8.4 Financial Overview
14.8.5 SWOT Analysis
14.8.6 Key Developments
14.9 HAYAT KIMYA SANAYI AS
14.9.1 Key Facts
14.9.2 Business Description
14.9.3 Products and Services
14.9.4 Financial Overview
14.9.5 SWOT Analysis
14.9.6 Key Developments
14.10 PAUL HARTMANN AG
14.10.1 Key Facts
14.10.2 Business Description
14.10.3 Products and Services
14.10.4 Financial Overview
14.10.5 SWOT Analysis
14.10.6 Key Developments
15. Appendix
15.1 About The Insight Partners
List of Tables
Table 1. Diapers Market Segmentation
Table 2. List of Vendors
Table 3. Latin America Diapers Market – Revenue and Forecast to 2030 (US$ Million)
Table 4. Latin America Diapers Market – Revenue and Forecast to 2030 (US$ Million) – by Product Type
Table 5. Latin America Diapers Market – Revenue and Forecast to 2030 (US$ Million) – by End User
Table 6. Latin America Diapers Market – Revenue and Forecast to 2030 (US$ Million) – by Category
Table 7. Latin America Diapers Market – Revenue and Forecast to 2030 (US$ Million) – by Distribution Channel
Table 8. Latin America: Diapers Market – Revenue and Forecast to 2030(US$ Million) – by Country
Table 9. Nicaragua: Diapers Market – Revenue and Forecast to 2030(US$ Million) – by Product Type
Table 10. Nicaragua: Diapers Market – Revenue and Forecast to 2030(US$ Million) – by End User
Table 11. Nicaragua: Diapers Market – Revenue and Forecast to 2030(US$ Million) – by Category
Table 12. Nicaragua: Diapers Market – Revenue and Forecast to 2030(US$ Million) – by Distribution Channel
Table 13. Domanica: Diapers Market – Revenue and Forecast to 2030(US$ Million) – by Product Type
Table 14. Domanica: Diapers Market – Revenue and Forecast to 2030(US$ Million) – by End User
Table 15. Domanica: Diapers Market – Revenue and Forecast to 2030(US$ Million) – by Category
Table 16. Domanica: Diapers Market – Revenue and Forecast to 2030(US$ Million) – by Distribution Channel
Table 17. Peru: Diapers Market – Revenue and Forecast to 2030(US$ Million) – by Product Type
Table 18. Peru: Diapers Market – Revenue and Forecast to 2030(US$ Million) – by End User
Table 19. Peru: Diapers Market – Revenue and Forecast to 2030(US$ Million) – by Category
Table 20. Peru: Diapers Market – Revenue and Forecast to 2030(US$ Million) – by Distribution Channel
Table 21. Venezuela: Diapers Market – Revenue and Forecast to 2030(US$ Million) – by Product Type
Table 22. Venezuela: Diapers Market – Revenue and Forecast to 2030(US$ Million) – by End User
Table 23. Venezuela: Diapers Market – Revenue and Forecast to 2030(US$ Million) – by Category
Table 24. Venezuela: Diapers Market – Revenue and Forecast to 2030(US$ Million) – by Distribution Channel
Table 25. Rest of Latin America: Diapers Market – Revenue and Forecast to 2030(US$ Million) – by Product Type
Table 26. Rest of Latin America: Diapers Market – Revenue and Forecast to 2030(US$ Million) – by End User
Table 27. Rest of Latin America: Diapers Market – Revenue and Forecast to 2030(US$ Million) – by Category
Table 28. Rest of Latin America: Diapers Market – Revenue and Forecast to 2030(US$ Million) – by Distribution Channel
List of Figures
Figure 1. Diapers Market Segmentation, by Country
Figure 2. Porter's Five Forces Analysis
Figure 3. Ecosystem: Latin America Diapers Market
Figure 4. Impact Analysis of Drivers and Restraints
Figure 5. Latin America Diapers Market Revenue (US$ Million), 2020–2030
Figure 6. Diapers Market Share (%) – by Product Type (2022 and 2030)
Figure 7. Pull-up Diapers: Diapers Market – Revenue and Forecast to 2030 (US$ Million)
Figure 8. Tape-on Diapers: Diapers Market – Revenue and Forecast to 2030 (US$ Million)
Figure 9. Diapers Market Share (%) – by End User (2022 and 2030)
Figure 10. Adults: Diapers Market – Revenue and Forecast to 2030 (US$ Million)
Figure 11. Baby/Kids: Diapers Market – Revenue and Forecast to 2030 (US$ Million)
Figure 12. Diapers Market Share (%) – by Category (2022 and 2030)
Figure 13. Reuseable: Diapers Market – Revenue and Forecast to 2030 (US$ Million)
Figure 14. Disposable: Diapers Market – Revenue and Forecast to 2030 (US$ Million)
Figure 15. Diapers Market Share (%) – by Distribution Channel (2022 and 2030)
Figure 16. Supermarkets and Hypermarket: Diapers Market – Revenue and Forecast to 2030 (US$ Million)
Figure 17. Specialty Stores: Diapers Market – Revenue and Forecast to 2030 (US$ Million)
Figure 18. Online Retail: Diapers Market – Revenue and Forecast to 2030 (US$ Million)
Figure 19. Others: Diapers Market – Revenue and Forecast to 2030 (US$ Million)
Figure 20. Diapers Market Breakdown by Country, 2022 and 2030 (%)
Figure 21. Nicaragua: Diapers Market – Revenue and Forecast to 2030(US$ Million)
Figure 22. Domanica: Diapers Market – Revenue and Forecast to 2030(US$ Million)
Figure 23. Peru: Diapers Market – Revenue and Forecast to 2030(US$ Million)
Figure 24. Venezuela: Diapers Market – Revenue and Forecast to 2030(US$ Million)
Figure 25. Rest of Latin America: Diapers Market – Revenue and Forecast to 2030(US$ Million)
Figure 26. Heat Map Analysis by Key Players
Figure 27. Company Positioning & Concentration
The List of Companies - Latin America Diapers Market
- The Procter & Gamble Co
- Softys Brazil Ltd
- Drylock Technologies NV
- Kimberly-Clark Corp
- Johnson & Johnson
- Ontex Group BV
- Tecnochemicals SA
- JL Morison (India) Ltd
- Hayat Kimya Sanayi AS
- Paul Hartmann 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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