Non-Fuel Grade Alcohol Market Research Report 2021-2031
The Non-Fuel Grade Alcohol Market is expected to register a CAGR of 5% 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 grade (food grade, pharmaceutical grade and industrial grade). The report further presents analysis based on end-use industry (food and beverages, pharmaceuticals, cosmetics and personal care, chemicals 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 Non-Fuel 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.
Non-Fuel Grade Alcohol Market Segmentation
Grade- Food Grade
- Pharmaceutical Grade and Industrial Grade
- Food and Beverages
- Pharmaceuticals
- Cosmetics and Personal Care
- Chemicals and Others
Strategic Insights
Non-Fuel Grade Alcohol Market Growth Drivers- Expansion in Food & Beverage Sector: The increasing usage of alcohol in the food and beverage sector continues to be one of the significant factors fueling the growth of the non-fuel-grade alcohol market. Ethanol is a vital non-fuel grade alcohol used extensively in food processing as a preservative, flavoring agent, and solvent. The know-how of craft beverages and the availability of premium ready-to-drink (RTD)-often blended in alcohol and spirituous flavored liquors-increasing demand for non-fuel grade alcohol of high standards.
- Rising Demand in Pharmaceuticals & Personal Care: Another category of non-fuel grade alcohols where ethanol and isopropyl alcohol have the most applications is pharmaceutical and personal care products. The alcohols are found in rubs, solvents, and also for disinfection. The global commodity market has been altered by adopting health measures to ensure safety due to pandemic diseases like COVID-19 as people maintain healthy standards of cleanliness, increasing the consumption of sanitizers and disinfectants. This trend will likely persist, accounting for considering non-fuel grade alcohols in industrial usage, creating more demand.
- Increased Use in Manufacturing & Solvent Applications: Non-fuel grade alcohol solvents are crucial in all facilities, including coatings, adhesives, or even cleaning agents. With the growth of the manufacturing segment in fast-developing countries, solvent consumption is increasing, which helps the non-fuel grade alcohol market as well. As production methods transform with new techniques and machines to maximize output, so will the use of non-fuel grade alcohols in manufacturing processes.
- Advancements in Non-Fuel Grade Alcohol Production: The efficiency and sustainability of producing non-fuel grade alcoholic beverages have significantly improved due to recent technologies. Optimizing fermentation and using other biochemical processes has been adopted in producing ethanol and other types of alcohol. These technologies are aimed at cutting production costs and reducing the adverse effects of pollution associated with production on the course of the practices, a trend in modern society for chemical industries sustainability issues.
- Sustainability Trends in Non-Fuel Grade Alcohol Manufacturing: The concern for sustainability in producing and selling non-fuel grade alcohols is noticeable in the current market. More and more companies are turning to those methods of alcohol production that include the use of raw materials from crops and recycling other alcohol. The reason the market is shifting towards this more sustainable supply of alcohol is due to the demand for green solutions from consumers and regulations limiting the emission of greenhouse gases. Those shifts in markets coupled with sustainable practices in adopting green manufacturing processes, will propulse some manufacturers to the forefront of that market.
- Strategic Alliances for Growth and Innovation: Players in the market of non-fuel grade alcohols are entering into strategic alliances to improve their products and services and to increase their presence. Strategic partnerships between alcohol manufacturers, technological companies, and research establishments promote development and create new markets for non-fuel grade alcohols. These strategies aid in remaining relevant in a business environment characterized by fast technological changes.
- Emerging Non-Fuel Grade Alcohol Markets: New non-fuel grade alcohol markets surface in countries like Asia-Pacific and Latin America that has great potential for growth. These regions baulk from too much economic growth and industrialization yet if carried out the non-fuel grade alcohols is expected to permeate into all other areas that call for their use and thus the demand for them will escalate. Expansion will be seen by those companies able to find the demand in these markets and localize their product.
- Opportunities for Specialty Non-Fuel Grade Alcohols: There exists numerous potentials for the manufacturers because of the specialty non-fuel grade alcohols which address select applications. For example; one can enter the market by seeking high purity alcohols for the pharmaceuticals or unique alcohol structures for certain industrial applications. Modify products according to different industrial demands and it will be possible to earn a larger market and increase profits.
- Growth Driven by Personal Care and Hygiene Industries: The growth of the personal care and hygiene industries creates an attractive prospect for non-fuel grade alcohols market. The need in the market for products such as hand sanitizers and disinfectants creates room for manufacturers to turn to the non-fuel grade alcohols for use in the products with new strategies. This will market the need to grow these products manufactured in this segment as customers expectations on effectiveness and safety will not be compromised.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Non-Fuel 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 Non-Fuel 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.
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- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
Frequently Asked Questions
The Non-Fuel Grade Alcohol Market is estimated to witness a CAGR of 5% from 2023 to 2031
Increasing demand in the food and beverage sector is driving the market growth
Archer Daniels Midland Company; Cargill Inc; Lallemand Inc; Green Plains Inc; Godavari Biorefineries Ltd are some of the key players operating in the non-fuel grade alcohol market
On the basis of geography, the non-fuel grade alcohol market is classified into North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America
The report can be delivered in PDF/Word format, we can also share excel data sheet based on request.
Innovation in production processes is expected to be the key market trends
1.INTRODUCTION
1.1.SCOPE OF THE STUDY
1.2.THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3.MARKET SEGMENTATION
1.3.1Non-Fuel Grade Alcohol - By Type
1.3.2Non-Fuel Grade Alcohol - By End-Use Industry
1.3.3Non-Fuel Grade Alcohol - By Region
1.3.3.1By Country
2.KEY TAKEWAYS
3.RESEARCH METHODOLOGY
4.NON-FUEL GRADE ALCOHOL L and SCAPE
4.1.OVERVIEW
4.2.PEST ANALYSIS
4.2.1North America - Pest Analysis
4.2.2Europe - Pest Analysis
4.2.3Asia-Pacific - Pest Analysis
4.2.4Middle East and Africa - Pest Analysis
4.2.5South and Central America - Pest Analysis
4.3.EXPERT OPINIONS
5.NON-FUEL GRADE ALCOHOL - 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.NON-FUEL GRADE ALCOHOL - GLOBAL MARKET ANALYSIS
6.1.NON-FUEL GRADE ALCOHOL - GLOBAL MARKET OVERVIEW
6.2.NON-FUEL GRADE ALCOHOL - GLOBAL MARKET and FORECAST TO 2028
6.3.MARKET POSITIONING/MARKET SHARE
7.NON-FUEL GRADE ALCOHOL - REVENUE and FORECASTS TO 2028 - TYPE
7.1.OVERVIEW
7.2.TYPE MARKET FORECASTS and ANALYSIS
7.3.FOOD GRADE
7.3.1.Overview
7.3.2.Food Grade Market Forecast and Analysis
7.4.PHARMACEUTICAL GRADE
7.4.1.Overview
7.4.2.Pharmaceutical Grade Market Forecast and Analysis
7.5.LAB GRADE
7.5.1.Overview
7.5.2.Lab Grade Market Forecast and Analysis
7.6.INDUSTRIAL GRADE
7.6.1.Overview
7.6.2.Industrial Grade Market Forecast and Analysis
7.7.OTHERS
7.7.1.Overview
7.7.2.Others Market Forecast and Analysis
8.NON-FUEL GRADE ALCOHOL - REVENUE and FORECASTS TO 2028 - END-USE INDUSTRY
8.1.OVERVIEW
8.2.END-USE INDUSTRY MARKET FORECASTS and ANALYSIS
8.3.FOOD and BEVERAGES
8.3.1.Overview
8.3.2.Food and Beverages Market Forecast and Analysis
8.4.PHARMACEUTICALS
8.4.1.Overview
8.4.2.Pharmaceuticals Market Forecast and Analysis
8.5.COSMETICS and PERSONAL CARE
8.5.1.Overview
8.5.2.Cosmetics and Personal Care Market Forecast and Analysis
8.6.CHEMICAL SOLVENT
8.6.1.Overview
8.6.2.Chemical Solvent Market Forecast and Analysis
8.7.OTHERS
8.7.1.Overview
8.7.2.Others Market Forecast and Analysis
9.NON-FUEL GRADE ALCOHOL REVENUE and FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
9.1.NORTH AMERICA
9.1.1North America Non-Fuel Grade Alcohol Overview
9.1.2North America Non-Fuel Grade Alcohol Forecasts and Analysis
9.1.3North America Non-Fuel Grade Alcohol Forecasts and Analysis - By Type
9.1.4North America Non-Fuel Grade Alcohol Forecasts and Analysis - By End-Use Industry
9.1.5North America Non-Fuel Grade Alcohol Forecasts and Analysis - By Countries
9.1.5.1Canada Non-Fuel Grade Alcohol
9.1.5.1.1Canada Non-Fuel Grade Alcohol by Type
9.1.5.1.2Canada Non-Fuel Grade Alcohol by End-Use Industry
9.1.5.2Mexico Non-Fuel Grade Alcohol
9.1.5.2.1Mexico Non-Fuel Grade Alcohol by Type
9.1.5.2.2Mexico Non-Fuel Grade Alcohol by End-Use Industry
9.1.5.3US Non-Fuel Grade Alcohol
9.1.5.3.1US Non-Fuel Grade Alcohol by Type
9.1.5.3.2US Non-Fuel Grade Alcohol by End-Use Industry
9.2.EUROPE
9.2.1Europe Non-Fuel Grade Alcohol Overview
9.2.2Europe Non-Fuel Grade Alcohol Forecasts and Analysis
9.2.3Europe Non-Fuel Grade Alcohol Forecasts and Analysis - By Type
9.2.4Europe Non-Fuel Grade Alcohol Forecasts and Analysis - By End-Use Industry
9.2.5Europe Non-Fuel Grade Alcohol Forecasts and Analysis - By Countries
9.2.5.1Germany Non-Fuel Grade Alcohol
9.2.5.1.1Germany Non-Fuel Grade Alcohol by Type
9.2.5.1.2Germany Non-Fuel Grade Alcohol by End-Use Industry
9.2.5.2France Non-Fuel Grade Alcohol
9.2.5.2.1France Non-Fuel Grade Alcohol by Type
9.2.5.2.2France Non-Fuel Grade Alcohol by End-Use Industry
9.2.5.3Italy Non-Fuel Grade Alcohol
9.2.5.3.1Italy Non-Fuel Grade Alcohol by Type
9.2.5.3.2Italy Non-Fuel Grade Alcohol by End-Use Industry
9.2.5.4United Kingdom Non-Fuel Grade Alcohol
9.2.5.4.1United Kingdom Non-Fuel Grade Alcohol by Type
9.2.5.4.2United Kingdom Non-Fuel Grade Alcohol by End-Use Industry
9.2.5.5Russia Non-Fuel Grade Alcohol
9.2.5.5.1Russia Non-Fuel Grade Alcohol by Type
9.2.5.5.2Russia Non-Fuel Grade Alcohol by End-Use Industry
9.2.5.6Rest of Europe Non-Fuel Grade Alcohol
9.2.5.6.1Rest of Europe Non-Fuel Grade Alcohol by Type
9.2.5.6.2Rest of Europe Non-Fuel Grade Alcohol by End-Use Industry
9.3.ASIA-PACIFIC
9.3.1Asia-Pacific Non-Fuel Grade Alcohol Overview
9.3.2Asia-Pacific Non-Fuel Grade Alcohol Forecasts and Analysis
9.3.3Asia-Pacific Non-Fuel Grade Alcohol Forecasts and Analysis - By Type
9.3.4Asia-Pacific Non-Fuel Grade Alcohol Forecasts and Analysis - By End-Use Industry
9.3.5Asia-Pacific Non-Fuel Grade Alcohol Forecasts and Analysis - By Countries
9.3.5.1Australia Non-Fuel Grade Alcohol
9.3.5.1.1Australia Non-Fuel Grade Alcohol by Type
9.3.5.1.2Australia Non-Fuel Grade Alcohol by End-Use Industry
9.3.5.2China Non-Fuel Grade Alcohol
9.3.5.2.1China Non-Fuel Grade Alcohol by Type
9.3.5.2.2China Non-Fuel Grade Alcohol by End-Use Industry
9.3.5.3India Non-Fuel Grade Alcohol
9.3.5.3.1India Non-Fuel Grade Alcohol by Type
9.3.5.3.2India Non-Fuel Grade Alcohol by End-Use Industry
9.3.5.4Japan Non-Fuel Grade Alcohol
9.3.5.4.1Japan Non-Fuel Grade Alcohol by Type
9.3.5.4.2Japan Non-Fuel Grade Alcohol by End-Use Industry
9.3.5.5South Korea Non-Fuel Grade Alcohol
9.3.5.5.1South Korea Non-Fuel Grade Alcohol by Type
9.3.5.5.2South Korea Non-Fuel Grade Alcohol by End-Use Industry
9.3.5.6Rest of Asia-Pacific Non-Fuel Grade Alcohol
9.3.5.6.1Rest of Asia-Pacific Non-Fuel Grade Alcohol by Type
9.3.5.6.2Rest of Asia-Pacific Non-Fuel Grade Alcohol by End-Use Industry
9.4.MIDDLE EAST and AFRICA
9.4.1Middle East and Africa Non-Fuel Grade Alcohol Overview
9.4.2Middle East and Africa Non-Fuel Grade Alcohol Forecasts and Analysis
9.4.3Middle East and Africa Non-Fuel Grade Alcohol Forecasts and Analysis - By Type
9.4.4Middle East and Africa Non-Fuel Grade Alcohol Forecasts and Analysis - By End-Use Industry
9.4.5Middle East and Africa Non-Fuel Grade Alcohol Forecasts and Analysis - By Countries
9.4.5.1South Africa Non-Fuel Grade Alcohol
9.4.5.1.1South Africa Non-Fuel Grade Alcohol by Type
9.4.5.1.2South Africa Non-Fuel Grade Alcohol by End-Use Industry
9.4.5.2Saudi Arabia Non-Fuel Grade Alcohol
9.4.5.2.1Saudi Arabia Non-Fuel Grade Alcohol by Type
9.4.5.2.2Saudi Arabia Non-Fuel Grade Alcohol by End-Use Industry
9.4.5.3U.A.E Non-Fuel Grade Alcohol
9.4.5.3.1U.A.E Non-Fuel Grade Alcohol by Type
9.4.5.3.2U.A.E Non-Fuel Grade Alcohol by End-Use Industry
9.4.5.4Rest of Middle East and Africa Non-Fuel Grade Alcohol
9.4.5.4.1Rest of Middle East and Africa Non-Fuel Grade Alcohol by Type
9.4.5.4.2Rest of Middle East and Africa Non-Fuel Grade Alcohol by End-Use Industry
9.5.SOUTH and CENTRAL AMERICA
9.5.1South and Central America Non-Fuel Grade Alcohol Overview
9.5.2South and Central America Non-Fuel Grade Alcohol Forecasts and Analysis
9.5.3South and Central America Non-Fuel Grade Alcohol Forecasts and Analysis - By Type
9.5.4South and Central America Non-Fuel Grade Alcohol Forecasts and Analysis - By End-Use Industry
9.5.5South and Central America Non-Fuel Grade Alcohol Forecasts and Analysis - By Countries
9.5.5.1Brazil Non-Fuel Grade Alcohol
9.5.5.1.1Brazil Non-Fuel Grade Alcohol by Type
9.5.5.1.2Brazil Non-Fuel Grade Alcohol by End-Use Industry
9.5.5.2Argentina Non-Fuel Grade Alcohol
9.5.5.2.1Argentina Non-Fuel Grade Alcohol by Type
9.5.5.2.2Argentina Non-Fuel Grade Alcohol by End-Use Industry
9.5.5.3Rest of South and Central America Non-Fuel Grade Alcohol
9.5.5.3.1Rest of South and Central America Non-Fuel Grade Alcohol by Type
9.5.5.3.2Rest of South and Central America Non-Fuel Grade Alcohol by End-Use Industry
10.INDUSTRY L and SCAPE
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.NON-FUEL GRADE ALCOHOL, KEY COMPANY PROFILES
11.1.ARCHER DANIELS MIDL and COMPANY
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.CARGILL, INCORPORATED
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.CROPENERGIES AG
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.GODAVARI BIOREFINERIES LTD
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.LYONDELLBASELL INDUSTRIES HOLDINGS BV
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.MERCK KGAA
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.PANNONIA BIO
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.SASOL
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.SOLVAY
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.WILMAR BIOETHANOL
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. Archer Daniels Midl and Company2. Cargill, Incorporated3. CropEnergies AG4. Godavari Biorefineries Ltd5. LyondellBasell Industries Holdings BV6. Merck KGaA7. Pannonia Bio8. Sasol9. Solvay10. Wilmar Bioethanol
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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