Release Agent Market Developments by 2031
The release agent market is expected to register a CAGR of 4% during 2023–2031. Increasing focus on plant-based and vegan-friendly release agents is likely to remain a key trend in the market.
Release Agent Market Analysis
- The global market for food and beverage release agents has been expanding at a remarkable pace over the last few years, thanks to the steady growth of the processed food production sector worldwide and the fact that many consumers are always looking for fast food.
- Keeping up with food manufacturers' goals to increase production efficiency and product standardization by finding new ways of producing and processing a wider variety of food materials with superior quality demonstrates the importance of release agents in preventing sticking and easy removal of food products from processing devices.
- The market will likely shift to more natural clean label release agents, given the trend toward healthier, cleaner-labeled foods.
- Plant-based and natural (i.e., organic) release agents are expected to increase in popularity, especially in countries with extremely strict food safety standards.
- Food processing is about to undergo a technological revolution. New kinds of equipment, new technologies, and new nutritional, functional, and technical standards will create an environment of continual product innovations and pressure manufacturers to create release agents that are fit for purpose.
Release Agent Market Overview
- The sectors are anticipated to witness substantial growth with the significant usage of release agents in the bakery and confectionery industries.
- Given their rate of urbanization, changes in the way they eat, and rising disposable incomes, emerging markets in the Asia Pacific and South & Central American regions also provide considerable growth prospects.
- Sustainability issues will influence the way that products are made, with manufacturers focusing on green formulations and packaging.
- The level of consolidation in the marketplace could rise as large companies look to grow their portfolio of products through acquisitions. Increasing global food safety regulations could lead release agent manufacturers further to demonstrate compliance and transparency in terms of their production.
- Increased automation in food processing by food industries would further spike the demand for high-quality release agents capable of very high pressures and temperatures.
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Release Agent Market: Strategic Insights
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Customize Research To Suit Your Requirement
We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.
Release Agent Market: Strategic Insights
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Release Agent Market Drivers and Opportunities
Rising Demand From Bakery Industry Drives Release Agents Market
- The bakery food products segment is experiencing a notable increase in demand, particularly from the bakery food industry, which is a key driving factor to the release agents market.
- As consumers around the world embrace bakery products and demand increases, release agents provide both better yield and quality, enabling manufacturers to increase production rates and product volume while maintaining yield and product quality.
- Furthermore, as baked goods become increasingly healthy, clean label and natural release agents are used more frequently as consumers demand an ingredient list they can read and recognize. As bakeries come under pressure to add value by providing consumers with more on-the-go convenience products with longer shelf life, release agents play a critical role in ensuring optimal product freshness and aesthetics.
- Large-scale bakery operations have been automated to meet expanding production, further increasing the need for performance-release agents that can stand up to processing temperatures and conditions. The demand for gluten-free foods and other specialty baked goods creates challenges in food release that may inspire innovation in the development of release agent formulations.
- As domestic bakery chains and Western-style baked goods grow more popular on a global scale, especially in emerging markets, the need to support those developments will continue to drive R & D in release agents.
Growing Demand for Gluten-Free Baking or Low-Fat Products
- An increase in health awareness can be attributed as a major factor in the growth of release agent demand, especially for gluten-free and low-fat bakery products. Furthermore, increasing diabetes prevalence and the prevalence of other health diseases, such as celiac disease and gluten sensitivities, also benefit the demand for release agents in the global market.
- Gluten-free baking: Because the doughs and batters that are used in gluten-free baking can be much different in nature and consistency from wheat-based products, they rely even more on the use of good release agents than ever. As the gluten-free market grows, there's increasing demand for release agents that have been specially developed to work well with alternative flours such as rice, almond, or coconut flour that can be used in gluten-free applications and that can give excellent clean release without compromising the more delicate flavor and texture that is often associated with these kinds of flour.
Release Agent Market Report Segmentation Analysis
Key segments that contributed to the derivation of the release agent market analysis are ingredients, form, and application.
- Based on ingredients, the market is segmented into vegetable oils, emulsifiers, wax and wax esters, antioxidants, and others.
- In terms of form, the market is divided into liquid and solid.
- On the basis of application, the market is segmented into confectionery, biscuits and crackers, bakery, packaged food products, fried food products, and others.
Release Agent Market Share Analysis by Geography
- Release Agent Market Report comprises a detailed analysis of five major geographic regions, which includes current and historical market size and forecasts for 2021 to 2031, covering North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA), and South & Central America.
- Each region is further sub-segmented into respective countries. This report provides analysis and forecasts of 18+ countries, covering release agent market dynamics such as drivers, trends, and opportunities that are impacting the markets at the regional level.
- Also, the report covers Porter's analysis, which involves the study of major factors that influence the release agent market in these regions.
Release Agent Market Report Scope
Release Agent Market News and Recent Development
The release agent market is evaluated by gathering the qualitative and quantitative data post primary and secondary research, which include important corporate publication, association data, and database. The few developments in the release agent market are listed below:
- Vantage Food announces the launch of its SIMPLY KAKE emulsifier, a patent-pending alternative to conventional baking aids, formulated to complement food manufacturers' cleaner label initiatives while attaining taller, lighter and more evenly baked cakes and sweet goods. (Source: Vantage Specialty Chemicals, Press Release, August, 2023)
- AAK now offers Akolec, a line of plant-based lecithin emulsifier systems sourced from sunflower oil and soybean oil. The systems are designed to help improve nutrition, functionality and processing of a variety of foods and beverages, including baked foods, confectionery items, and plant-based dairy and plant-based meat alternatives, according to the company. (Source: AAK AB, Press Release, February, 2021)
Release Agent Market Report Coverage and Deliverables
The " Release Agent Market Size and Forecast (2021–2031)" report provides a detailed analysis of the market covering below areas:
- Release Agent market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Release Agent market trends as well as market dynamics such as drivers, restraints, and key opportunities
- Detailed PEST/Porter's Five Forces and SWOT analysis
- Release Agent market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the release agent market
- Detailed company profiles
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 global release agent market is expected to grow at a CAGR of 4% during the forecast period 2023 - 2031.
The increasing consumer awareness and lifestyle changes are one of the major factors driving the release agent market.
Increasing focus on plant-based and vegan-friendly release agents is anticipated to play a significant role in the global release agent market in the coming years.
The leading players operating in the release agent market are Par-Way Tryson Company; Avatar Corporation; Archer Daniels Midland Company (ADM); AAK AB; Cargill, Inc.; Mallet and Company, Inc.; IFC Solutions; Lallemand Inc; Masterol Foods Pty Ltd.; Puratos Group NV; DowDuPont Inc; Lecico GmbH; Associated British Foods plc; Koninklijke DSM N.V.; and Dübör Groneweg GmbH and Co. KG.
The report can be delivered in PDF/PPT format; we can also share excel dataset based on the request.
Some of the customization options available based on request are additional 3–5 company profiles and country-specific analysis of 3–5 countries of your choice. Customizations are to be requested/discussed before making final order confirmation, as our team would review the same and check the feasibility.
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 Release Agents Market - By Ingredients
1.3.2 Release Agents Market - By Application
1.3.3 Release Agents Market - By Form
1.3.4 Release Agents Market - By Region
1.3.4.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. RELEASE AGENTS 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. RELEASE AGENTS 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. RELEASE AGENTS MARKET - GLOBAL MARKET ANALYSIS
6.1. RELEASE AGENTS - GLOBAL MARKET OVERVIEW
6.2. RELEASE AGENTS - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. RELEASE AGENTS MARKET - REVENUE AND FORECASTS TO 2028 - INGREDIENTS
7.1. OVERVIEW
7.2. INGREDIENTS MARKET FORECASTS AND ANALYSIS
7.3. VEGETABLE OILS
7.3.1. Overview
7.3.2. Vegetable oils Market Forecast and Analysis
7.4. EMULSIFIERS
7.4.1. Overview
7.4.2. Emulsifiers Market Forecast and Analysis
7.5. WAX AND WAX ESTERS
7.5.1. Overview
7.5.2. Wax and Wax esters Market Forecast and Analysis
7.6. ANTIOXIDANTS
7.6.1. Overview
7.6.2. Antioxidants Market Forecast and Analysis
7.7. OTHER INGREDIENTS
7.7.1. Overview
7.7.2. Other ingredients Market Forecast and Analysis
8. RELEASE AGENTS MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
8.1. OVERVIEW
8.2. APPLICATION MARKET FORECASTS AND ANALYSIS
8.3. BAKERY PRODUCTS
8.3.1. Overview
8.3.2. Bakery products Market Forecast and Analysis
8.4. CONFECTIONERY PRODUCTS
8.4.1. Overview
8.4.2. Confectionery products Market Forecast and Analysis
8.5. PROCESSED MEAT
8.5.1. Overview
8.5.2. Processed meat Market Forecast and Analysis
8.6. OTHERS APPLICATIONS
8.6.1. Overview
8.6.2. Others applications Market Forecast and Analysis
9. RELEASE AGENTS MARKET - REVENUE AND FORECASTS TO 2028 - FORM
9.1. OVERVIEW
9.2. FORM MARKET FORECASTS AND ANALYSIS
9.3. LIQUID
9.3.1. Overview
9.3.2. Liquid Market Forecast and Analysis
9.4. SOLID
9.4.1. Overview
9.4.2. Solid Market Forecast and Analysis
10. RELEASE AGENTS MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America Release Agents Market Overview
10.1.2 North America Release Agents Market Forecasts and Analysis
10.1.3 North America Release Agents Market Forecasts and Analysis - By Ingredients
10.1.4 North America Release Agents Market Forecasts and Analysis - By Application
10.1.5 North America Release Agents Market Forecasts and Analysis - By Form
10.1.6 North America Release Agents Market Forecasts and Analysis - By Countries
10.1.6.1 United States Release Agents Market
10.1.6.1.1 United States Release Agents Market by Ingredients
10.1.6.1.2 United States Release Agents Market by Application
10.1.6.1.3 United States Release Agents Market by Form
10.1.6.2 Canada Release Agents Market
10.1.6.2.1 Canada Release Agents Market by Ingredients
10.1.6.2.2 Canada Release Agents Market by Application
10.1.6.2.3 Canada Release Agents Market by Form
10.1.6.3 Mexico Release Agents Market
10.1.6.3.1 Mexico Release Agents Market by Ingredients
10.1.6.3.2 Mexico Release Agents Market by Application
10.1.6.3.3 Mexico Release Agents Market by Form
10.2. EUROPE
10.2.1 Europe Release Agents Market Overview
10.2.2 Europe Release Agents Market Forecasts and Analysis
10.2.3 Europe Release Agents Market Forecasts and Analysis - By Ingredients
10.2.4 Europe Release Agents Market Forecasts and Analysis - By Application
10.2.5 Europe Release Agents Market Forecasts and Analysis - By Form
10.2.6 Europe Release Agents Market Forecasts and Analysis - By Countries
10.2.6.1 Germany Release Agents Market
10.2.6.1.1 Germany Release Agents Market by Ingredients
10.2.6.1.2 Germany Release Agents Market by Application
10.2.6.1.3 Germany Release Agents Market by Form
10.2.6.2 France Release Agents Market
10.2.6.2.1 France Release Agents Market by Ingredients
10.2.6.2.2 France Release Agents Market by Application
10.2.6.2.3 France Release Agents Market by Form
10.2.6.3 Italy Release Agents Market
10.2.6.3.1 Italy Release Agents Market by Ingredients
10.2.6.3.2 Italy Release Agents Market by Application
10.2.6.3.3 Italy Release Agents Market by Form
10.2.6.4 United Kingdom Release Agents Market
10.2.6.4.1 United Kingdom Release Agents Market by Ingredients
10.2.6.4.2 United Kingdom Release Agents Market by Application
10.2.6.4.3 United Kingdom Release Agents Market by Form
10.2.6.5 Russia Release Agents Market
10.2.6.5.1 Russia Release Agents Market by Ingredients
10.2.6.5.2 Russia Release Agents Market by Application
10.2.6.5.3 Russia Release Agents Market by Form
10.2.6.6 Rest of Europe Release Agents Market
10.2.6.6.1 Rest of Europe Release Agents Market by Ingredients
10.2.6.6.2 Rest of Europe Release Agents Market by Application
10.2.6.6.3 Rest of Europe Release Agents Market by Form
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific Release Agents Market Overview
10.3.2 Asia-Pacific Release Agents Market Forecasts and Analysis
10.3.3 Asia-Pacific Release Agents Market Forecasts and Analysis - By Ingredients
10.3.4 Asia-Pacific Release Agents Market Forecasts and Analysis - By Application
10.3.5 Asia-Pacific Release Agents Market Forecasts and Analysis - By Form
10.3.6 Asia-Pacific Release Agents Market Forecasts and Analysis - By Countries
10.3.6.1 Australia Release Agents Market
10.3.6.1.1 Australia Release Agents Market by Ingredients
10.3.6.1.2 Australia Release Agents Market by Application
10.3.6.1.3 Australia Release Agents Market by Form
10.3.6.2 China Release Agents Market
10.3.6.2.1 China Release Agents Market by Ingredients
10.3.6.2.2 China Release Agents Market by Application
10.3.6.2.3 China Release Agents Market by Form
10.3.6.3 India Release Agents Market
10.3.6.3.1 India Release Agents Market by Ingredients
10.3.6.3.2 India Release Agents Market by Application
10.3.6.3.3 India Release Agents Market by Form
10.3.6.4 Japan Release Agents Market
10.3.6.4.1 Japan Release Agents Market by Ingredients
10.3.6.4.2 Japan Release Agents Market by Application
10.3.6.4.3 Japan Release Agents Market by Form
10.3.6.5 South Korea Release Agents Market
10.3.6.5.1 South Korea Release Agents Market by Ingredients
10.3.6.5.2 South Korea Release Agents Market by Application
10.3.6.5.3 South Korea Release Agents Market by Form
10.3.6.6 Rest of Asia-Pacific Release Agents Market
10.3.6.6.1 Rest of Asia-Pacific Release Agents Market by Ingredients
10.3.6.6.2 Rest of Asia-Pacific Release Agents Market by Application
10.3.6.6.3 Rest of Asia-Pacific Release Agents Market by Form
10.4. MIDDLE EAST AND AFRICA
10.4.1 Middle East and Africa Release Agents Market Overview
10.4.2 Middle East and Africa Release Agents Market Forecasts and Analysis
10.4.3 Middle East and Africa Release Agents Market Forecasts and Analysis - By Ingredients
10.4.4 Middle East and Africa Release Agents Market Forecasts and Analysis - By Application
10.4.5 Middle East and Africa Release Agents Market Forecasts and Analysis - By Form
10.4.6 Middle East and Africa Release Agents Market Forecasts and Analysis - By Countries
10.4.6.1 South Africa Release Agents Market
10.4.6.1.1 South Africa Release Agents Market by Ingredients
10.4.6.1.2 South Africa Release Agents Market by Application
10.4.6.1.3 South Africa Release Agents Market by Form
10.4.6.2 Saudi Arabia Release Agents Market
10.4.6.2.1 Saudi Arabia Release Agents Market by Ingredients
10.4.6.2.2 Saudi Arabia Release Agents Market by Application
10.4.6.2.3 Saudi Arabia Release Agents Market by Form
10.4.6.3 U.A.E Release Agents Market
10.4.6.3.1 U.A.E Release Agents Market by Ingredients
10.4.6.3.2 U.A.E Release Agents Market by Application
10.4.6.3.3 U.A.E Release Agents Market by Form
10.4.6.4 Rest of Middle East and Africa Release Agents Market
10.4.6.4.1 Rest of Middle East and Africa Release Agents Market by Ingredients
10.4.6.4.2 Rest of Middle East and Africa Release Agents Market by Application
10.4.6.4.3 Rest of Middle East and Africa Release Agents Market by Form
10.5. SOUTH AND CENTRAL AMERICA
10.5.1 South and Central America Release Agents Market Overview
10.5.2 South and Central America Release Agents Market Forecasts and Analysis
10.5.3 South and Central America Release Agents Market Forecasts and Analysis - By Ingredients
10.5.4 South and Central America Release Agents Market Forecasts and Analysis - By Application
10.5.5 South and Central America Release Agents Market Forecasts and Analysis - By Form
10.5.6 South and Central America Release Agents Market Forecasts and Analysis - By Countries
10.5.6.1 Brazil Release Agents Market
10.5.6.1.1 Brazil Release Agents Market by Ingredients
10.5.6.1.2 Brazil Release Agents Market by Application
10.5.6.1.3 Brazil Release Agents Market by Form
10.5.6.2 Argentina Release Agents Market
10.5.6.2.1 Argentina Release Agents Market by Ingredients
10.5.6.2.2 Argentina Release Agents Market by Application
10.5.6.2.3 Argentina Release Agents Market by Form
10.5.6.3 Rest of South and Central America Release Agents Market
10.5.6.3.1 Rest of South and Central America Release Agents Market by Ingredients
10.5.6.3.2 Rest of South and Central America Release Agents Market by Application
10.5.6.3.3 Rest of South and Central America Release Agents Market by Form
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. RELEASE AGENTS MARKET, KEY COMPANY PROFILES
12.1. AAK - THE CO-DEVELOPMENT COMPANY
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. ASSOCIATED BRITISH FOODS PLC
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. AVATAR CORPORATION
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. BAKELS WORLDWIDE
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. CARGILL, INCORPORATED
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. E. I. DU PONT DE NEMOURS AND 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. IFC SOLUTIONS
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. MALLET AND COMPANY, INC
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. MASTEROL FOODS PTY. LTD.
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. THE ARCHER DANIELS MIDLAND COMPANY
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. AAK - The Co-Development Company
2. Associated British Foods plc
3. AVATAR CORPORATION
4. Bakels Worldwide
5. Cargill, Incorporated
6. E. I. du Pont de Nemours and Company
7. IFC Solutions
8. Mallet and Company, Inc
9. Masterol Foods Pty. Ltd.
10. The Archer Daniels Midland Company
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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