Sodium Cocoyl Glycinate Market Analysis 2021-2031 | Trends and Top Players
The Sodium Cocoyl Glycinate 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 sodium cocoyl glycinate market report is segmented by form (solid and liquid). The market is segmented based on application (skincare, haircare, and others). The global analysis is further broken down at the 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, segments, regions, and countries. The report covers market trends, as well as market dynamics such as drivers, restraints, and key opportunities. The report also covers industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments in the market.
Purpose of the ReportThe report Sodium Cocoyl Glycinate 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.
Sodium Cocoyl Glycinate Market Segmentation
Form- Solid and Liquid
- Skincare
- Haircare
Strategic Insights
Sodium Cocoyl Glycinate Market Growth Drivers- Rising Demand for Natural, Clean-Label Ingredients in Personal Care: The use of natural, clean-label, or organic ingredients in personal care products is becoming more popular among consumers. There is an understanding among the consumers of the irritation of chemical compounds like sulfates and other surfactants that may be harmful to the skin and the hair. Sodium cocoyl glycinate is less aggressive and more eco-friendly than sulphates and other harmful chemicals and is obtained from coconut oil and the amino acid glycine. It is perfect for delicate skin, for baby care, and for other products used for painful conditions, such as eczema and acne. In this way, the consumers’ shift of attention from unhealthful products to healthful ones has caused a high demand for sodium cocoyl glycinate.
- Sodium Cocoyl Glycinate and the Shift Toward Sustainable Personal Care: Sustainability has evolved into a serious consideration in the personal care segment of the market as consumers demand appliances manufactured from renewable and ecological materials. Sodium cocoyl glycinate can be viewed as an environmentally sustainable surfactant as it is derived from plants and is eco-friendly because it is easily broken down in the environment, unlike synthetic surfactants. Consequently, as consumers and manufacturers start to prioritize sustainability, the use of sodium cocoyl glycinate and other plant-based additives, which are eco-friendly and decompose naturally, is on the rise in personal care products such as skincare, haircare, and body care.
- The Clean Beauty Movement Driving Demand for Sodium Cocoyl Glycinate: The controversial ‘clean beauty’ concept is becoming a trend as consumers want products that do not contain any harmful constituents, additives, or even non-natural components. Fitting within this concept of clean beauty is sodium cocoyl glycinate, which is mild, non-irritating, and non-toxic. Due to the rise in the number of brands claiming to offer clean beauty products, the demand for suitable surfactants has also increased. The clean beauty movement remains a key factor for the growth of the global sodium cocoyl glycinate market because it has turned out to be a solution to the ever-increasing consumer desire for beauty products that are safer, efficient, and eco-friendly.
- Growing Demand for Multi-Functional Personal Care Products: The consumer’s desire for a product that can perform so many functions all at once that it can cleanse, moisturize, and counteract aging. The emergence of sodium cocoyl glycinate in the formulation of various multi-functional personal care products is because, apart from being a mild surfactant good for cleansing, it also has skin conditioning properties. In fact, the growing popularity of multi-functional, ‘all-in-one’ types of products, which do away with the need for many single items, will create an upsurge in demand for gentle cleansing agents like sodium cocoyl glycinate, which will offer a cleansing effect while enhancing other skin benefits.
- Sodium Cocoyl Glycinate's Role in Baby and Sensitive Skin Care: Alongside the general awareness, hence the fast growth of the appropriate personal care products particularly the baby ones. Dermatologically tested products include sodium cocoyl glycinate, which is a non-irritant even in cleansing, hence suitable for delicate skin. With parents and other end users understanding that babies and sensitive skin users require non-harsh or savage skin care products, better still gentle ones, the adoption of sodium-dodecylglycinate to baby shampoos, cleansers, and lotions shall be on an upward trend. The sensitive skin care and baby care products market shall continue to provide impetus for the development of innovations in formulations with this mild surfactant.
- Sodium Cocoyl Glycinate in Premium and Luxury Beauty Products: There has been a positive growth trend in the beauty products of the premium and luxury segments due to the preference of consumers towards high quality and well-differentiated personal health care products. Sodium cocoyl glycinate is increasingly used in the gear and bathroom essentials produced for the upper class as this raw material is predominantly regarded to be gentle, effective, and calming to the skin. Women and Men alike’s aversion to cheap, toxic beauty products based on chemicals while embracing ‘green’ expensive materials will influence the growth of sodium cocoyl glycinate in premium products as consumers look for easily purchasable and effective products.
- Opportunities for Sodium Cocoyl Glycinate in Emerging Markets: Regions like Asia-Pacific, Latin America, and Africa, among others, have emerging markets that have a very young and vibrant growing middle class. Encouraging personal care and cosmetic markets for these regions includes increasing disposable incomes, urban migration, and changing some attitudes of the consumers, Towards personal care. Due to the fact that customers from these regions are now more educated and know how to appreciate the usefulness of natural ingredients as well as gentle ones, this poses an opportunity for the manufacturers of sodium cocoyl glycinate. This is projected to provide the opportunity for the growth of sodium cocoyl glycinate in these nations since there will be a high demand for safe and efficient personal care products in the new emerging markets.
- Strategic Alliances with Clean Beauty Brands: Sodium cocoyl glycinate suppliers have room to pursue strategic alliances with clean beauty brands that are surfacing in the market. Most of the clean beauty brands on the rise are focused on providing safe and efficient esthetic treatments. In this regard, sodium cocoyl glycinate manufacturers are able to engage with the segment of the market that supports using natural ingredients and crafting eco-friendly products. Besides, these collaborations may also include a sodium cocoyl glycinate based formulation for the clean beauty brand.
- Creating Niche Formulations for Specific Consumer Needs: Sodium cocoyl glycinate finds an opportunity to create distinct formulations that include products for niche audiences, such as formulators for aging skin, acne treatment, or hyperpigmentation. In line with this, a New Product Development strategy can be adopted by plethoric manufacturers, and personal care products targeting its utilities can be introduced without any change in existing product lines. For example, sodium cocoyl glycinate performs wonderfully in anti-aging face washes, which not only cleanse the skin but also hydrate it. Products aimed at niche audiences enable buyers to satisfy specific needs, thereby enhancing the growth of sodium cocoyl glycinate.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Sodium Cocoyl Glycinate 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 Sodium Cocoyl Glycinate 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
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to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
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Frequently Asked Questions
The Sodium Cocoyl Glycinate Market is estimated to witness a CAGR of 4% from 2023 to 2031
Rising consumer demand for natural and gentle personal care products is driving the market growth.
Parchem, Sino Lion, Solvay S.A., Henan Surface Chemical Industry Co Ltd, Innospec Inc, Galaxy Surfactants Ltd, Guangzhou Tinci Materials Technology Co Ltd, Clariant International Ltd, Ajinomoto Omnichem S.A, and Starchem Enterprises Limited are the key players operating in the sodium cocoyl glycinate market.
Based on application, the skincare segment is expected to witness the fastest growth during the forecast period.
Based on geography, Asia Pacific held the largest share of the sodium cocoyl glycinate market due to the strong growth of the personal care and cosmetics industry in the region.
Formulation of multi-functional personal care 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 Sodium Cocoyl Glycinate Market - By Type
1.3.2 Sodium Cocoyl Glycinate Market - By Application
1.3.3 Sodium Cocoyl Glycinate Market - By Region
1.3.3.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. SODIUM COCOYL GLYCINATE 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. SODIUM COCOYL GLYCINATE 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. SODIUM COCOYL GLYCINATE MARKET - GLOBAL MARKET ANALYSIS
6.1. SODIUM COCOYL GLYCINATE - GLOBAL MARKET OVERVIEW
6.2. SODIUM COCOYL GLYCINATE - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. SODIUM COCOYL GLYCINATE MARKET - REVENUE AND FORECASTS TO 2028 - TYPE
7.1. OVERVIEW
7.2. TYPE MARKET FORECASTS AND ANALYSIS
7.3. SOLID
7.3.1. Overview
7.3.2. Solid Market Forecast and Analysis
7.4. LIQUID
7.4.1. Overview
7.4.2. Liquid Market Forecast and Analysis
8. SODIUM COCOYL GLYCINATE MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
8.1. OVERVIEW
8.2. APPLICATION MARKET FORECASTS AND ANALYSIS
8.3. SKIN CARE
8.3.1. Overview
8.3.2. Skin Care Market Forecast and Analysis
8.4. HAIR CARE
8.4.1. Overview
8.4.2. Hair Care Market Forecast and Analysis
8.5. OTHER
8.5.1. Overview
8.5.2. Other Market Forecast and Analysis
9. SODIUM COCOYL GLYCINATE MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
9.1. NORTH AMERICA
9.1.1 North America Sodium Cocoyl Glycinate Market Overview
9.1.2 North America Sodium Cocoyl Glycinate Market Forecasts and Analysis
9.1.3 North America Sodium Cocoyl Glycinate Market Forecasts and Analysis - By Type
9.1.4 North America Sodium Cocoyl Glycinate Market Forecasts and Analysis - By Application
9.1.5 North America Sodium Cocoyl Glycinate Market Forecasts and Analysis - By Countries
9.1.5.1 Canada Sodium Cocoyl Glycinate Market
9.1.5.1.1 Canada Sodium Cocoyl Glycinate Market by Type
9.1.5.1.2 Canada Sodium Cocoyl Glycinate Market by Application
9.1.5.2 Mexico Sodium Cocoyl Glycinate Market
9.1.5.2.1 Mexico Sodium Cocoyl Glycinate Market by Type
9.1.5.2.2 Mexico Sodium Cocoyl Glycinate Market by Application
9.1.5.3 US Sodium Cocoyl Glycinate Market
9.1.5.3.1 US Sodium Cocoyl Glycinate Market by Type
9.1.5.3.2 US Sodium Cocoyl Glycinate Market by Application
9.2. EUROPE
9.2.1 Europe Sodium Cocoyl Glycinate Market Overview
9.2.2 Europe Sodium Cocoyl Glycinate Market Forecasts and Analysis
9.2.3 Europe Sodium Cocoyl Glycinate Market Forecasts and Analysis - By Type
9.2.4 Europe Sodium Cocoyl Glycinate Market Forecasts and Analysis - By Application
9.2.5 Europe Sodium Cocoyl Glycinate Market Forecasts and Analysis - By Countries
9.2.5.1 Germany Sodium Cocoyl Glycinate Market
9.2.5.1.1 Germany Sodium Cocoyl Glycinate Market by Type
9.2.5.1.2 Germany Sodium Cocoyl Glycinate Market by Application
9.2.5.2 France Sodium Cocoyl Glycinate Market
9.2.5.2.1 France Sodium Cocoyl Glycinate Market by Type
9.2.5.2.2 France Sodium Cocoyl Glycinate Market by Application
9.2.5.3 Italy Sodium Cocoyl Glycinate Market
9.2.5.3.1 Italy Sodium Cocoyl Glycinate Market by Type
9.2.5.3.2 Italy Sodium Cocoyl Glycinate Market by Application
9.2.5.4 United Kingdom Sodium Cocoyl Glycinate Market
9.2.5.4.1 United Kingdom Sodium Cocoyl Glycinate Market by Type
9.2.5.4.2 United Kingdom Sodium Cocoyl Glycinate Market by Application
9.2.5.5 Russia Sodium Cocoyl Glycinate Market
9.2.5.5.1 Russia Sodium Cocoyl Glycinate Market by Type
9.2.5.5.2 Russia Sodium Cocoyl Glycinate Market by Application
9.2.5.6 Rest of Europe Sodium Cocoyl Glycinate Market
9.2.5.6.1 Rest of Europe Sodium Cocoyl Glycinate Market by Type
9.2.5.6.2 Rest of Europe Sodium Cocoyl Glycinate Market by Application
9.3. ASIA-PACIFIC
9.3.1 Asia-Pacific Sodium Cocoyl Glycinate Market Overview
9.3.2 Asia-Pacific Sodium Cocoyl Glycinate Market Forecasts and Analysis
9.3.3 Asia-Pacific Sodium Cocoyl Glycinate Market Forecasts and Analysis - By Type
9.3.4 Asia-Pacific Sodium Cocoyl Glycinate Market Forecasts and Analysis - By Application
9.3.5 Asia-Pacific Sodium Cocoyl Glycinate Market Forecasts and Analysis - By Countries
9.3.5.1 Australia Sodium Cocoyl Glycinate Market
9.3.5.1.1 Australia Sodium Cocoyl Glycinate Market by Type
9.3.5.1.2 Australia Sodium Cocoyl Glycinate Market by Application
9.3.5.2 China Sodium Cocoyl Glycinate Market
9.3.5.2.1 China Sodium Cocoyl Glycinate Market by Type
9.3.5.2.2 China Sodium Cocoyl Glycinate Market by Application
9.3.5.3 India Sodium Cocoyl Glycinate Market
9.3.5.3.1 India Sodium Cocoyl Glycinate Market by Type
9.3.5.3.2 India Sodium Cocoyl Glycinate Market by Application
9.3.5.4 Japan Sodium Cocoyl Glycinate Market
9.3.5.4.1 Japan Sodium Cocoyl Glycinate Market by Type
9.3.5.4.2 Japan Sodium Cocoyl Glycinate Market by Application
9.3.5.5 South Korea Sodium Cocoyl Glycinate Market
9.3.5.5.1 South Korea Sodium Cocoyl Glycinate Market by Type
9.3.5.5.2 South Korea Sodium Cocoyl Glycinate Market by Application
9.3.5.6 Rest of Asia-Pacific Sodium Cocoyl Glycinate Market
9.3.5.6.1 Rest of Asia-Pacific Sodium Cocoyl Glycinate Market by Type
9.3.5.6.2 Rest of Asia-Pacific Sodium Cocoyl Glycinate Market by Application
9.4. MIDDLE EAST AND AFRICA
9.4.1 Middle East and Africa Sodium Cocoyl Glycinate Market Overview
9.4.2 Middle East and Africa Sodium Cocoyl Glycinate Market Forecasts and Analysis
9.4.3 Middle East and Africa Sodium Cocoyl Glycinate Market Forecasts and Analysis - By Type
9.4.4 Middle East and Africa Sodium Cocoyl Glycinate Market Forecasts and Analysis - By Application
9.4.5 Middle East and Africa Sodium Cocoyl Glycinate Market Forecasts and Analysis - By Countries
9.4.5.1 South Africa Sodium Cocoyl Glycinate Market
9.4.5.1.1 South Africa Sodium Cocoyl Glycinate Market by Type
9.4.5.1.2 South Africa Sodium Cocoyl Glycinate Market by Application
9.4.5.2 Saudi Arabia Sodium Cocoyl Glycinate Market
9.4.5.2.1 Saudi Arabia Sodium Cocoyl Glycinate Market by Type
9.4.5.2.2 Saudi Arabia Sodium Cocoyl Glycinate Market by Application
9.4.5.3 U.A.E Sodium Cocoyl Glycinate Market
9.4.5.3.1 U.A.E Sodium Cocoyl Glycinate Market by Type
9.4.5.3.2 U.A.E Sodium Cocoyl Glycinate Market by Application
9.4.5.4 Rest of Middle East and Africa Sodium Cocoyl Glycinate Market
9.4.5.4.1 Rest of Middle East and Africa Sodium Cocoyl Glycinate Market by Type
9.4.5.4.2 Rest of Middle East and Africa Sodium Cocoyl Glycinate Market by Application
9.5. SOUTH AND CENTRAL AMERICA
9.5.1 South and Central America Sodium Cocoyl Glycinate Market Overview
9.5.2 South and Central America Sodium Cocoyl Glycinate Market Forecasts and Analysis
9.5.3 South and Central America Sodium Cocoyl Glycinate Market Forecasts and Analysis - By Type
9.5.4 South and Central America Sodium Cocoyl Glycinate Market Forecasts and Analysis - By Application
9.5.5 South and Central America Sodium Cocoyl Glycinate Market Forecasts and Analysis - By Countries
9.5.5.1 Brazil Sodium Cocoyl Glycinate Market
9.5.5.1.1 Brazil Sodium Cocoyl Glycinate Market by Type
9.5.5.1.2 Brazil Sodium Cocoyl Glycinate Market by Application
9.5.5.2 Argentina Sodium Cocoyl Glycinate Market
9.5.5.2.1 Argentina Sodium Cocoyl Glycinate Market by Type
9.5.5.2.2 Argentina Sodium Cocoyl Glycinate Market by Application
9.5.5.3 Rest of South and Central America Sodium Cocoyl Glycinate Market
9.5.5.3.1 Rest of South and Central America Sodium Cocoyl Glycinate Market by Type
9.5.5.3.2 Rest of South and Central America Sodium Cocoyl Glycinate Market by Application
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. SODIUM COCOYL GLYCINATE MARKET, KEY COMPANY PROFILES
11.1. PARCHEM
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. SINO LION (USA)
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 S.A.
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. HENAN SURFACE CHEMICAL INDUSTRY CO. 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. INNOSPEC INC
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. GALAXY SURFACTANTS LTD
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. GUANGZHOU TINCI MATERIALS TECHNOLOGY CO. LTD
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. CLARIANT INTERNATIONAL LTD
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. AJINOMOTO OMNICHEM S.A
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. STARCHEM ENTERPRISES LIMITED
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. Parchem
2. Sino Lion (USA)
3. Solvay S.A.
4. Henan Surface Chemical Industry Co. Ltd
5. Innospec Inc
6. Galaxy Surfactants Ltd
7. Guangzhou Tinci Materials Technology Co. Ltd
8. Clariant International Ltd
9. Ajinomoto Omnichem S.A
10. Starchem Enterprises Limited
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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