Polylactic Acid Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis
Analyst Perspective
The global polylactic acid market is estimated to register a CAGR of 17.6%. The global polylactic acid market is witnessing increased demand due to the need for environmentally friendly packaging alternatives. PLA is gaining prominence as a substitute for petroleum-based polymers, particularly in the agricultural sector for bio-based plastic films. This surge in demand is driven by a broader trend of consumers preferring eco-friendly plastic products. However, with its multi-functionalities, PLA faces challenges in performance compared to conventional plastics. This transparency poses a hurdle to the overall growth of the global PLA market.
Market Overview
Polylactic acid (PLA), also known as polylactide derived from lactic acid, stands out as a promising biodegradable polymer in the current market. It is valued for its robust mechanical properties and compostable nature; PLA is widely used in packaging, particularly in the food, beverage, and consumer goods industries. Its organic origin from sources like corn and sugarcane positions it favorably against traditional petroleum-based plastics, aligning with the industry's growing preference for sustainable solutions. PLA's ease of printing and biocompatible nature make it easier to use in the 3d printing industry. PLA fuels innovation and sustainable practices in this rapidly evolving space, from intricate medical models to personalized consumer products. The industry is at a crucial juncture, balancing the advantages of eco-friendly solutions with the performance expectations of traditional plastics, and navigating this balance will be key to the sustained expansion of the PLA market in the face of the increasing demand for biodegradable packaging alternatives.
Market Drivers
- With rising awareness about environmental issues, consumers are actively seeking sustainable alternatives. PLA's eco-friendly credentials resonate with this growing segment, driving demand for PLA-based products.
- PLA boasts exceptional biodegradability, breaking down into harmless elements like water and carbon dioxide. It fights against plastic pollution, especially for single-use products like food packaging and disposable cutlery.
- Technological breakthroughs are making PLA production more efficient and cost-competitive, narrowing the gap with traditional plastics and leading to market expansion. Additionally, governments worldwide are implementing stricter regulations on plastic waste and fossil fuel use, which incentivizes adopting sustainable alternatives like PLA, further propelling market growth.
Market Segmentation
The global polylactic acid market is segmented based on technology and application. The polylactic acid market is segmented based on technology into thermoforming, fibers & non-woven, film & coatings, molding, and 3d printing. The polylactic acid market is segmented based on application into food & beverage packaging, medical, consumer goods, agriculture, textile, automotive, and electronics.
Regional Analysis
The report provides a detailed industry overview, which includes qualitative and quantitative information. It gives information on an overview and forecast of the global polylactic acid market based on several segments. It also provides market size and forecast estimates from 2020 to 2030 concerning five major regions: Europe, North America, Asia-Pacific (APAC), Middle East & Africa (MEA) and South & Central America. The polylactic acid market by region is also sub-segmented by respective countries and segments. The polylactic acid market report covers an analysis and forecast of eighteen countries globally and the prevailing trends and opportunities in the region.
The report analyses factors affecting the polylactic acid market from both the demand and supply side. Furthermore, it evaluates market dynamics during the forecast period, i.e., drivers, challenges, opportunities, and future trends. The report also provides an extensive Porter's Five Forces analysis highlighting factors affecting these regions' polylactic acid market.
Key Players
The reports cover vital organic and inorganic growth strategy developments in the polylactic acid market. Various companies concentrate on organic growth strategies such as product launches, approvals, patents, and others. Inorganic growth strategies activities observed in the market were acquisitions, partnerships & collaborations. These activities have paved the way for the development of the business and customer base of market players. The market players in the polylactic acid market are expected to have lucrative growth opportunities with the increasing awareness of environmental issues in the global market.
The report includes key companies' profiles, SWOT analysis, and polylactic acid market strategies. The report also focuses on leading market players with information including components and services offered, company profiles, financial information for the last three years, and critical development in the past five years.
Below is a list of companies engaged in the polylactic acid market.
- BASF SE
- Daito Kasei Kogyo Co. Ltd.
- Evonik Industries AG
- FUTERRO
- iSuoChem Group
- Kobo Products Inc.
- MG Chemicals
- Mitsubishi Chemical America, Inc.
- NatureWorks LLC
- TotalEnergies Corbion BV
Have a question?
Shejal
Shejal will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.
Speak to Analyst
- 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.
TABLE OF CONTENTS
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Polylactic Acid Market - By Raw Material
1.3.2 Polylactic Acid Market - By Form
1.3.3 Polylactic Acid Market - By Application
1.3.4 Polylactic Acid Market - By Region
1.3.4.1 By Country
2. KEY TAKEWAYS
3. RESEARCH METHODOLOGY
4. POLYLACTIC ACID 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. POLYLACTIC ACID 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, RESTRAINTS & EXPECTED INFLUENCE OF COVID-19 PANDEMIC
6. POLYLACTIC ACID MARKET - GLOBAL MARKET ANALYSIS
6.1. POLYLACTIC ACID - GLOBAL MARKET OVERVIEW
6.2. POLYLACTIC ACID - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. POLYLACTIC ACID MARKET - REVENUE AND FORECASTS TO 2028 - RAW MATERIAL
7.1. OVERVIEW
7.2. RAW MATERIAL MARKET FORECASTS AND ANALYSIS
7.3. CORN
7.3.1. Overview
7.3.2. Corn Market Forecast and Analysis
7.4. CASSAVA
7.4.1. Overview
7.4.2. Cassava Market Forecast and Analysis
7.5. SUGARCANE AND SUGAR BEET
7.5.1. Overview
7.5.2. Sugarcane and Sugar Beet Market Forecast and Analysis
7.6. OTHERS
7.6.1. Overview
7.6.2. Others Market Forecast and Analysis
8. POLYLACTIC ACID MARKET - REVENUE AND FORECASTS TO 2028 - FORM
8.1. OVERVIEW
8.2. FORM MARKET FORECASTS AND ANALYSIS
8.3. FIBER
8.3.1. Overview
8.3.2. Fiber Market Forecast and Analysis
8.4. FILMS AND SHEETS
8.4.1. Overview
8.4.2. Films and Sheets Market Forecast and Analysis
8.5. COATINGS
8.5.1. Overview
8.5.2. Coatings Market Forecast and Analysis
8.6. OTHERS
8.6.1. Overview
8.6.2. Others Market Forecast and Analysis
9. POLYLACTIC ACID MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
9.1. OVERVIEW
9.2. APPLICATION MARKET FORECASTS AND ANALYSIS
9.3. PACKAGING
9.3.1. Overview
9.3.2. Packaging Market Forecast and Analysis
9.4. AUTOMOTIVE
9.4.1. Overview
9.4.2. Automotive Market Forecast and Analysis
9.5. MEDICAL
9.5.1. Overview
9.5.2. Medical Market Forecast and Analysis
9.6. ELECTRONICS
9.6.1. Overview
9.6.2. Electronics Market Forecast and Analysis
9.7. AGRICULTURE
9.7.1. Overview
9.7.2. Agriculture Market Forecast and Analysis
9.8. TEXTILES
9.8.1. Overview
9.8.2. Textiles Market Forecast and Analysis
9.9. OTHERS
9.9.1. Overview
9.9.2. Others Market Forecast and Analysis
10. POLYLACTIC ACID MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America Polylactic Acid Market Overview
10.1.2 North America Polylactic Acid Market Forecasts and Analysis
10.1.3 North America Polylactic Acid Market Forecasts and Analysis - By Raw Material
10.1.4 North America Polylactic Acid Market Forecasts and Analysis - By Form
10.1.5 North America Polylactic Acid Market Forecasts and Analysis - By Application
10.1.6 North America Polylactic Acid Market Forecasts and Analysis - By Countries
10.1.6.1 United States Polylactic Acid Market
10.1.6.1.1 United States Polylactic Acid Market by Raw Material
10.1.6.1.2 United States Polylactic Acid Market by Form
10.1.6.1.3 United States Polylactic Acid Market by Application
10.1.6.2 Canada Polylactic Acid Market
10.1.6.2.1 Canada Polylactic Acid Market by Raw Material
10.1.6.2.2 Canada Polylactic Acid Market by Form
10.1.6.2.3 Canada Polylactic Acid Market by Application
10.1.6.3 Mexico Polylactic Acid Market
10.1.6.3.1 Mexico Polylactic Acid Market by Raw Material
10.1.6.3.2 Mexico Polylactic Acid Market by Form
10.1.6.3.3 Mexico Polylactic Acid Market by Application
10.2. EUROPE
10.2.1 Europe Polylactic Acid Market Overview
10.2.2 Europe Polylactic Acid Market Forecasts and Analysis
10.2.3 Europe Polylactic Acid Market Forecasts and Analysis - By Raw Material
10.2.4 Europe Polylactic Acid Market Forecasts and Analysis - By Form
10.2.5 Europe Polylactic Acid Market Forecasts and Analysis - By Application
10.2.6 Europe Polylactic Acid Market Forecasts and Analysis - By Countries
10.2.6.1 Germany Polylactic Acid Market
10.2.6.1.1 Germany Polylactic Acid Market by Raw Material
10.2.6.1.2 Germany Polylactic Acid Market by Form
10.2.6.1.3 Germany Polylactic Acid Market by Application
10.2.6.2 France Polylactic Acid Market
10.2.6.2.1 France Polylactic Acid Market by Raw Material
10.2.6.2.2 France Polylactic Acid Market by Form
10.2.6.2.3 France Polylactic Acid Market by Application
10.2.6.3 Italy Polylactic Acid Market
10.2.6.3.1 Italy Polylactic Acid Market by Raw Material
10.2.6.3.2 Italy Polylactic Acid Market by Form
10.2.6.3.3 Italy Polylactic Acid Market by Application
10.2.6.4 United Kingdom Polylactic Acid Market
10.2.6.4.1 United Kingdom Polylactic Acid Market by Raw Material
10.2.6.4.2 United Kingdom Polylactic Acid Market by Form
10.2.6.4.3 United Kingdom Polylactic Acid Market by Application
10.2.6.5 Russia Polylactic Acid Market
10.2.6.5.1 Russia Polylactic Acid Market by Raw Material
10.2.6.5.2 Russia Polylactic Acid Market by Form
10.2.6.5.3 Russia Polylactic Acid Market by Application
10.2.6.6 Rest of Europe Polylactic Acid Market
10.2.6.6.1 Rest of Europe Polylactic Acid Market by Raw Material
10.2.6.6.2 Rest of Europe Polylactic Acid Market by Form
10.2.6.6.3 Rest of Europe Polylactic Acid Market by Application
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific Polylactic Acid Market Overview
10.3.2 Asia-Pacific Polylactic Acid Market Forecasts and Analysis
10.3.3 Asia-Pacific Polylactic Acid Market Forecasts and Analysis - By Raw Material
10.3.4 Asia-Pacific Polylactic Acid Market Forecasts and Analysis - By Form
10.3.5 Asia-Pacific Polylactic Acid Market Forecasts and Analysis - By Application
10.3.6 Asia-Pacific Polylactic Acid Market Forecasts and Analysis - By Countries
10.3.6.1 Australia Polylactic Acid Market
10.3.6.1.1 Australia Polylactic Acid Market by Raw Material
10.3.6.1.2 Australia Polylactic Acid Market by Form
10.3.6.1.3 Australia Polylactic Acid Market by Application
10.3.6.2 China Polylactic Acid Market
10.3.6.2.1 China Polylactic Acid Market by Raw Material
10.3.6.2.2 China Polylactic Acid Market by Form
10.3.6.2.3 China Polylactic Acid Market by Application
10.3.6.3 India Polylactic Acid Market
10.3.6.3.1 India Polylactic Acid Market by Raw Material
10.3.6.3.2 India Polylactic Acid Market by Form
10.3.6.3.3 India Polylactic Acid Market by Application
10.3.6.4 Japan Polylactic Acid Market
10.3.6.4.1 Japan Polylactic Acid Market by Raw Material
10.3.6.4.2 Japan Polylactic Acid Market by Form
10.3.6.4.3 Japan Polylactic Acid Market by Application
10.3.6.5 South Korea Polylactic Acid Market
10.3.6.5.1 South Korea Polylactic Acid Market by Raw Material
10.3.6.5.2 South Korea Polylactic Acid Market by Form
10.3.6.5.3 South Korea Polylactic Acid Market by Application
10.3.6.6 Rest of Asia-Pacific Polylactic Acid Market
10.3.6.6.1 Rest of Asia-Pacific Polylactic Acid Market by Raw Material
10.3.6.6.2 Rest of Asia-Pacific Polylactic Acid Market by Form
10.3.6.6.3 Rest of Asia-Pacific Polylactic Acid Market by Application
10.4. MIDDLE EAST AND AFRICA
10.4.1 Middle East and Africa Polylactic Acid Market Overview
10.4.2 Middle East and Africa Polylactic Acid Market Forecasts and Analysis
10.4.3 Middle East and Africa Polylactic Acid Market Forecasts and Analysis - By Raw Material
10.4.4 Middle East and Africa Polylactic Acid Market Forecasts and Analysis - By Form
10.4.5 Middle East and Africa Polylactic Acid Market Forecasts and Analysis - By Application
10.4.6 Middle East and Africa Polylactic Acid Market Forecasts and Analysis - By Countries
10.4.6.1 South Africa Polylactic Acid Market
10.4.6.1.1 South Africa Polylactic Acid Market by Raw Material
10.4.6.1.2 South Africa Polylactic Acid Market by Form
10.4.6.1.3 South Africa Polylactic Acid Market by Application
10.4.6.2 Saudi Arabia Polylactic Acid Market
10.4.6.2.1 Saudi Arabia Polylactic Acid Market by Raw Material
10.4.6.2.2 Saudi Arabia Polylactic Acid Market by Form
10.4.6.2.3 Saudi Arabia Polylactic Acid Market by Application
10.4.6.3 U.A.E Polylactic Acid Market
10.4.6.3.1 U.A.E Polylactic Acid Market by Raw Material
10.4.6.3.2 U.A.E Polylactic Acid Market by Form
10.4.6.3.3 U.A.E Polylactic Acid Market by Application
10.4.6.4 Rest of Middle East and Africa Polylactic Acid Market
10.4.6.4.1 Rest of Middle East and Africa Polylactic Acid Market by Raw Material
10.4.6.4.2 Rest of Middle East and Africa Polylactic Acid Market by Form
10.4.6.4.3 Rest of Middle East and Africa Polylactic Acid Market by Application
10.5. SOUTH AND CENTRAL AMERICA
10.5.1 South and Central America Polylactic Acid Market Overview
10.5.2 South and Central America Polylactic Acid Market Forecasts and Analysis
10.5.3 South and Central America Polylactic Acid Market Forecasts and Analysis - By Raw Material
10.5.4 South and Central America Polylactic Acid Market Forecasts and Analysis - By Form
10.5.5 South and Central America Polylactic Acid Market Forecasts and Analysis - By Application
10.5.6 South and Central America Polylactic Acid Market Forecasts and Analysis - By Countries
10.5.6.1 Brazil Polylactic Acid Market
10.5.6.1.1 Brazil Polylactic Acid Market by Raw Material
10.5.6.1.2 Brazil Polylactic Acid Market by Form
10.5.6.1.3 Brazil Polylactic Acid Market by Application
10.5.6.2 Argentina Polylactic Acid Market
10.5.6.2.1 Argentina Polylactic Acid Market by Raw Material
10.5.6.2.2 Argentina Polylactic Acid Market by Form
10.5.6.2.3 Argentina Polylactic Acid Market by Application
10.5.6.3 Rest of South and Central America Polylactic Acid Market
10.5.6.3.1 Rest of South and Central America Polylactic Acid Market by Raw Material
10.5.6.3.2 Rest of South and Central America Polylactic Acid Market by Form
10.5.6.3.3 Rest of South and Central America Polylactic Acid Market by Application
11. INDUSTRY LANDSCAPE
11.1. MERGERS AND ACQUISITIONS
11.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
11.3. NEW PRODUCT LAUNCHES
11.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
12. POLYLACTIC ACID MARKET, KEY COMPANY PROFILES
12.1. BASF SE
12.1.1. Key Facts
12.1.2. Business Description
12.1.3. Products and Services
12.1.4. Financial Overview
12.1.5. SWOT Analysis
12.1.6. Key Developments
12.2. BAYER AG
12.2.1. Key Facts
12.2.2. Business Description
12.2.3. Products and Services
12.2.4. Financial Overview
12.2.5. SWOT Analysis
12.2.6. Key Developments
12.3. CORBION
12.3.1. Key Facts
12.3.2. Business Description
12.3.3. Products and Services
12.3.4. Financial Overview
12.3.5. SWOT Analysis
12.3.6. Key Developments
12.4. DANIMER SCIENTIFIC
12.4.1. Key Facts
12.4.2. Business Description
12.4.3. Products and Services
12.4.4. Financial Overview
12.4.5. SWOT Analysis
12.4.6. Key Developments
12.5. DOWDUPONT
12.5.1. Key Facts
12.5.2. Business Description
12.5.3. Products and Services
12.5.4. Financial Overview
12.5.5. SWOT Analysis
12.5.6. Key Developments
12.6. EASTMAN CHEMICAL COMPANY
12.6.1. Key Facts
12.6.2. Business Description
12.6.3. Products and Services
12.6.4. Financial Overview
12.6.5. SWOT Analysis
12.6.6. Key Developments
12.7. FUTERRO
12.7.1. Key Facts
12.7.2. Business Description
12.7.3. Products and Services
12.7.4. Financial Overview
12.7.5. SWOT Analysis
12.7.6. Key Developments
12.8. HENAN JINDAN LACTIC ACID TECHNOLOGY CO., LTD
12.8.1. Key Facts
12.8.2. Business Description
12.8.3. Products and Services
12.8.4. Financial Overview
12.8.5. SWOT Analysis
12.8.6. Key Developments
12.9. MITSUBISHI CHEMICAL CORPORATION
12.9.1. Key Facts
12.9.2. Business Description
12.9.3. Products and Services
12.9.4. Financial Overview
12.9.5. SWOT Analysis
12.9.6. Key Developments
12.10. NATUREWORKS LLC
12.10.1. Key Facts
12.10.2. Business Description
12.10.3. Products and Services
12.10.4. Financial Overview
12.10.5. SWOT Analysis
12.10.6. Key Developments
13. APPENDIX
13.1. ABOUT THE INSIGHT PARTNERS
13.2. GLOSSARY OF TERMS
The List of Companies
1. BASF SE
2. Bayer AG
3. Corbion
4. Danimer Scientific
5. DowDuPont
6. Eastman Chemical Company
7. Futerro
8. Henan Jindan Lactic Acid Technology Co., Ltd
9. Mitsubishi Chemical Corporation
10. NatureWorks LLC
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.
Get Free Sample For