Personal Care Ingredients Market Size & CAGR (2023-2031)
The Personal Care Ingredients 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 presents analysis based on type (emollients, surfactants, emulsifiers, rheology modifiers, conditioning polymers, and others). The report is segmented by end use (hair care, skin care, oral care, cosmetics, 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 Personal Care Ingredients 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.
Personal Care Ingredients Market Segmentation
Type- Emollients
- Surfactants
- Emulsifiers
- Rheology Modifiers
- Conditioning Polymers
- Hair Care
- Skin Care
- Oral Care
- Cosmetics
Strategic Insights
Personal Care Ingredients Market Growth Drivers- Rising Focus on Self-Care: The surging concern about the look and its grooming is mainly driving the market for personal care ingredients. Thus, the increasing focus on self-care is emerging as an imperative need for good-quality skincare, hair care, and cosmetics. This is predominantly seen among the younger generation who consider grooming as a part of the lifestyle.
- Diverse Ingredient Combinations: This demand has triggered manufacturers to create new ingredients of novel combinations to address various demands of the consumer. Starting from natural and organic formulations to highly advanced chemical compounds that can intensify the efficacy of the product, every range is seen in the market. Such diversity is attractive for a consumer who wants something unique in his or her personal care routines.
- Growing Influence of Social Media: Now, with social media and influencers at the center, the appearance-oriented component is intensified. Beauty trends are fast changing online, thereby arousing intense desires within customers for a product that promises visible results. Brands have to invest and research in bringing about ingredients that really deliver on such expectations.
- Rising Demand for Natural and Organic Products: The primary dominating trend in the shaping of the future personal care ingredients market has been the surging demand for natural and organic products. Consumers are developing health-conscious and environmentally sensitive attitudes, which creates demand for formulations based on natural ingredients. With this change, brands have to reformulate their product in light of these burgeoning expectations.
- Consumer Preference for Transparency and Sustainability: The resulting consumer preference for transparency and sustainability demands nontoxic chemicals and synthetic additives devoid of toxic chemicals. In response, manufacturers have spearheaded the quest for the best organic and sustainably sourced ingredients to improve their portfolio offerings. Companies are investing in research to identify natural alternatives that match the effectiveness of chemical-based inputs but meet the requirements of consumer values. This will propel market growth forward.
- Shift Towards Ethical and Naturally Sourced Ingredients: With the clean beauty rush, the trend toward natural and organic formulations has accelerated further. Brands today are talking about ingredients only when they are focusing on their integrity and ensuring ethical sourcing, which aligns them well with wellness-first and eco-conscious customers. Conventional brands are being compelled to alter their strategies here since naturally sourced ingredients have now become necessary to ensure viability in a marketplace so sensitive to change.
- Technological Advances in Ingredients: Advances in the technology of the ingredients are coming to increase high market growth for personal care ingredients. For instance, advances in biotechnology and nanotechnology can lead to the formulation of more effective and multifunctional ingredient solutions. These technologies are further being improved to facilitate enhanced performance products as well as more effective targeted solutions that, again, support the offering of solutions to consumers with specific needs and help increase market growth.
- Growing Demand for Personalized Beauty Products: Advances in ingredient technology would drive the rise of personalized beauty products, since now companies can create customized formulations based on individual skin types, preferences, and concerns. In such a market that is moving towards "tailored" experiences, consumer requirements may push manufacturers to spend more on research and development in optimizing their ingredient offerings.
- Growing Focus on Sustainable Sourcing and Eco-Friendly Ingredients: At the same time, conservation methods are also appearing with sustainable procurement amid the demand for eco-friendly products by consumers. The relevance in this aspect also includes the growing demand for ingredients derived from renewable resources or with relatively low environmental impact. Such focus on sustainability relates not only to the values of consumers but also strengthens brand loyalty, which further boosts the market growth.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Personal Care Ingredients 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 Personal Care Ingredients 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
This text is related
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 Personal Care Ingredients Market is estimated to witness a CAGR of 4% from 2023 to 2031
The growing focus on personal appearance and grooming is driving the market growth.
BASF SE; Ashland; Solvay; Dow; Clariant; Croda International Plc.; Evonik Industries AG; Nouryon; Cargill, Incorporated; and J.M. Huber Corporation are some of the key players operating in the personal care ingredients market
Based on type, the natural preservatives segment is expected to witness the fastest growth during the forecast period
Based on geography, Asia Pacific held the largest share of the personal care ingredients market due to rapid urbanization and increasing disposable incomes in countries such as China, India, and Japan have led to a rising demand for personal care products. Consumers in these markets are increasingly investing in skincare, haircare, and cosmetic products, driving the need for innovative ingredients.
The increasing demand for natural and organic products 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
1.3.1 Personal Care Ingredients Market - By Ingredient Type
1.3.2 Personal Care Ingredients Market - By End Use
1.3.3 Personal Care Ingredients Market - By Region
1.3.3.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. PERSONAL CARE INGREDIENTS 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. PERSONAL CARE INGREDIENTS 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. PERSONAL CARE INGREDIENTS MARKET - GLOBAL MARKET ANALYSIS
6.1. PERSONAL CARE INGREDIENTS - GLOBAL MARKET OVERVIEW
6.2. PERSONAL CARE INGREDIENTS - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. PERSONAL CARE INGREDIENTS MARKET - REVENUE AND FORECASTS TO 2028 - INGREDIENT TYPE
7.1. OVERVIEW
7.2. INGREDIENT TYPE MARKET FORECASTS AND ANALYSIS
7.3. SYNTHETIC INGREDIENTS
7.3.1. Overview
7.3.2. Synthetic Ingredients Market Forecast and Analysis
7.4. NATURAL/HERBAL INGREDIENTS
7.4.1. Overview
7.4.2. Natural/Herbal Ingredients Market Forecast and Analysis
7.5. SPECIALTY INGREDIENTS
7.5.1. Overview
7.5.2. Specialty Ingredients Market Forecast and Analysis
7.5.3. Bioactives Market
7.5.3.1. Overview
7.5.3.2. Bioactives Market Forecast and Analysis
7.5.4. Emollients Market
7.5.4.1. Overview
7.5.4.2. Emollients Market Forecast and Analysis
7.5.5. Surfactant Market
7.5.5.1. Overview
7.5.5.2. Surfactant Market Forecast and Analysis
7.5.6. UV-Absorber Market
7.5.6.1. Overview
7.5.6.2. UV-Absorber Market Forecast and Analysis
7.5.7. Emulsifiers Market
7.5.7.1. Overview
7.5.7.2. Emulsifiers Market Forecast and Analysis
7.5.8. Others. Market
7.5.8.1. Overview
7.5.8.2. Others. Market Forecast and Analysis
8. PERSONAL CARE INGREDIENTS MARKET - REVENUE AND FORECASTS TO 2028 - END USE
8.1. OVERVIEW
8.2. END USE MARKET FORECASTS AND ANALYSIS
8.3. FRAGRANCE
8.3.1. Overview
8.3.2. Fragrance Market Forecast and Analysis
8.4. HAIR CARE
8.4.1. Overview
8.4.2. Hair Care Market Forecast and Analysis
8.5. SKIN CARE
8.5.1. Overview
8.5.2. Skin Care Market Forecast and Analysis
8.6. ORAL CARE
8.6.1. Overview
8.6.2. Oral Care Market Forecast and Analysis
8.7. FACIAL MAKEUP
8.7.1. Overview
8.7.2. Facial Makeup Market Forecast and Analysis
8.8. OTHERS.
8.8.1. Overview
8.8.2. Others. Market Forecast and Analysis
9. PERSONAL CARE INGREDIENTS MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
9.1. NORTH AMERICA
9.1.1 North America Personal Care Ingredients Market Overview
9.1.2 North America Personal Care Ingredients Market Forecasts and Analysis
9.1.3 North America Personal Care Ingredients Market Forecasts and Analysis - By Ingredient Type
9.1.4 North America Personal Care Ingredients Market Forecasts and Analysis - By End Use
9.1.5 North America Personal Care Ingredients Market Forecasts and Analysis - By Countries
9.1.5.1 United States Personal Care Ingredients Market
9.1.5.1.1 United States Personal Care Ingredients Market by Ingredient Type
9.1.5.1.2 United States Personal Care Ingredients Market by End Use
9.1.5.2 Canada Personal Care Ingredients Market
9.1.5.2.1 Canada Personal Care Ingredients Market by Ingredient Type
9.1.5.2.2 Canada Personal Care Ingredients Market by End Use
9.1.5.3 Mexico Personal Care Ingredients Market
9.1.5.3.1 Mexico Personal Care Ingredients Market by Ingredient Type
9.1.5.3.2 Mexico Personal Care Ingredients Market by End Use
9.2. EUROPE
9.2.1 Europe Personal Care Ingredients Market Overview
9.2.2 Europe Personal Care Ingredients Market Forecasts and Analysis
9.2.3 Europe Personal Care Ingredients Market Forecasts and Analysis - By Ingredient Type
9.2.4 Europe Personal Care Ingredients Market Forecasts and Analysis - By End Use
9.2.5 Europe Personal Care Ingredients Market Forecasts and Analysis - By Countries
9.2.5.1 Germany Personal Care Ingredients Market
9.2.5.1.1 Germany Personal Care Ingredients Market by Ingredient Type
9.2.5.1.2 Germany Personal Care Ingredients Market by End Use
9.2.5.2 France Personal Care Ingredients Market
9.2.5.2.1 France Personal Care Ingredients Market by Ingredient Type
9.2.5.2.2 France Personal Care Ingredients Market by End Use
9.2.5.3 Italy Personal Care Ingredients Market
9.2.5.3.1 Italy Personal Care Ingredients Market by Ingredient Type
9.2.5.3.2 Italy Personal Care Ingredients Market by End Use
9.2.5.4 United Kingdom Personal Care Ingredients Market
9.2.5.4.1 United Kingdom Personal Care Ingredients Market by Ingredient Type
9.2.5.4.2 United Kingdom Personal Care Ingredients Market by End Use
9.2.5.5 Russia Personal Care Ingredients Market
9.2.5.5.1 Russia Personal Care Ingredients Market by Ingredient Type
9.2.5.5.2 Russia Personal Care Ingredients Market by End Use
9.2.5.6 Rest of Europe Personal Care Ingredients Market
9.2.5.6.1 Rest of Europe Personal Care Ingredients Market by Ingredient Type
9.2.5.6.2 Rest of Europe Personal Care Ingredients Market by End Use
9.3. ASIA-PACIFIC
9.3.1 Asia-Pacific Personal Care Ingredients Market Overview
9.3.2 Asia-Pacific Personal Care Ingredients Market Forecasts and Analysis
9.3.3 Asia-Pacific Personal Care Ingredients Market Forecasts and Analysis - By Ingredient Type
9.3.4 Asia-Pacific Personal Care Ingredients Market Forecasts and Analysis - By End Use
9.3.5 Asia-Pacific Personal Care Ingredients Market Forecasts and Analysis - By Countries
9.3.5.1 Australia Personal Care Ingredients Market
9.3.5.1.1 Australia Personal Care Ingredients Market by Ingredient Type
9.3.5.1.2 Australia Personal Care Ingredients Market by End Use
9.3.5.2 China Personal Care Ingredients Market
9.3.5.2.1 China Personal Care Ingredients Market by Ingredient Type
9.3.5.2.2 China Personal Care Ingredients Market by End Use
9.3.5.3 India Personal Care Ingredients Market
9.3.5.3.1 India Personal Care Ingredients Market by Ingredient Type
9.3.5.3.2 India Personal Care Ingredients Market by End Use
9.3.5.4 Japan Personal Care Ingredients Market
9.3.5.4.1 Japan Personal Care Ingredients Market by Ingredient Type
9.3.5.4.2 Japan Personal Care Ingredients Market by End Use
9.3.5.5 South Korea Personal Care Ingredients Market
9.3.5.5.1 South Korea Personal Care Ingredients Market by Ingredient Type
9.3.5.5.2 South Korea Personal Care Ingredients Market by End Use
9.3.5.6 Rest of Asia-Pacific Personal Care Ingredients Market
9.3.5.6.1 Rest of Asia-Pacific Personal Care Ingredients Market by Ingredient Type
9.3.5.6.2 Rest of Asia-Pacific Personal Care Ingredients Market by End Use
9.4. MIDDLE EAST AND AFRICA
9.4.1 Middle East and Africa Personal Care Ingredients Market Overview
9.4.2 Middle East and Africa Personal Care Ingredients Market Forecasts and Analysis
9.4.3 Middle East and Africa Personal Care Ingredients Market Forecasts and Analysis - By Ingredient Type
9.4.4 Middle East and Africa Personal Care Ingredients Market Forecasts and Analysis - By End Use
9.4.5 Middle East and Africa Personal Care Ingredients Market Forecasts and Analysis - By Countries
9.4.5.1 South Africa Personal Care Ingredients Market
9.4.5.1.1 South Africa Personal Care Ingredients Market by Ingredient Type
9.4.5.1.2 South Africa Personal Care Ingredients Market by End Use
9.4.5.2 Saudi Arabia Personal Care Ingredients Market
9.4.5.2.1 Saudi Arabia Personal Care Ingredients Market by Ingredient Type
9.4.5.2.2 Saudi Arabia Personal Care Ingredients Market by End Use
9.4.5.3 U.A.E Personal Care Ingredients Market
9.4.5.3.1 U.A.E Personal Care Ingredients Market by Ingredient Type
9.4.5.3.2 U.A.E Personal Care Ingredients Market by End Use
9.4.5.4 Rest of Middle East and Africa Personal Care Ingredients Market
9.4.5.4.1 Rest of Middle East and Africa Personal Care Ingredients Market by Ingredient Type
9.4.5.4.2 Rest of Middle East and Africa Personal Care Ingredients Market by End Use
9.5. SOUTH AND CENTRAL AMERICA
9.5.1 South and Central America Personal Care Ingredients Market Overview
9.5.2 South and Central America Personal Care Ingredients Market Forecasts and Analysis
9.5.3 South and Central America Personal Care Ingredients Market Forecasts and Analysis - By Ingredient Type
9.5.4 South and Central America Personal Care Ingredients Market Forecasts and Analysis - By End Use
9.5.5 South and Central America Personal Care Ingredients Market Forecasts and Analysis - By Countries
9.5.5.1 Brazil Personal Care Ingredients Market
9.5.5.1.1 Brazil Personal Care Ingredients Market by Ingredient Type
9.5.5.1.2 Brazil Personal Care Ingredients Market by End Use
9.5.5.2 Argentina Personal Care Ingredients Market
9.5.5.2.1 Argentina Personal Care Ingredients Market by Ingredient Type
9.5.5.2.2 Argentina Personal Care Ingredients Market by End Use
9.5.5.3 Rest of South and Central America Personal Care Ingredients Market
9.5.5.3.1 Rest of South and Central America Personal Care Ingredients Market by Ingredient Type
9.5.5.3.2 Rest of South and Central America Personal Care Ingredients Market by End Use
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. PERSONAL CARE INGREDIENTS MARKET, KEY COMPANY PROFILES
11.1. BASF SE
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. ASHLAND
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. SOLVAY
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. DOW
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. CLARIANT
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. CRODA INTERNATIONAL PLC.
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. EVONIK INDUSTRIES AG
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. NOURYON
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. LONZA
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. J.M. HUBER CORPORATION
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. BASF SE
2. Ashland
3. Solvay
4. Dow
5. Clariant
6. Croda International Plc.
7. Evonik Industries AG
8. Nouryon
9. Lonza
10. J.M. Huber Corporation
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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