Wheat Seeds Market Drivers and Opportunities [2021-2031]
The Wheat Seeds 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 is segmented by Type (GM, Non-GM), Trait (Drought Tolerant, Herbicide Tolerant, Others). The report further presents analysis based on Seed Treatment (Treated, Untreated). Global analysis is further broken-down at regional level and major countries. In terms of geography, the market is divided into North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America). The Report Offers the Value in USD for the above analysis and segments.
Purpose of the ReportThe report Wheat Seeds 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.
Wheat Seeds Market Segmentation
Type- GM
- Non-GM
- Drought Tolerant
- Herbicide Tolerant
- Treated
- Untreated
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
Strategic Insights
Wheat Seeds Market Growth Drivers- Global Population Growth Drives Wheat Demand and Seed Production: As a staple food for billions, the increasing global population expands demand for wheat. Developing countries substantially increase consumption, making wheat-based products preferred choices, and thus stimulates seeds production and development by compelling farmers to plant the varieties needed: high-yielding, for example, or resistant to diseases-to meet that demand.
- :Advancements in Agricultural Technology: Use of improved agricultural technology through genetically modified seeds and precision farming enhances the yields of wheat production. These reported increases make the crop more durable against pests and, thus, climate change brings about this influence as it compels farmers to buy the better seed varieties available in the market, hence increasing the demand for wheat seeds.
- Government Policies and Subsidies: Agriculture policies that support food security, such as subsidies and incentives for wheat farming, along with research funding for better seed varieties, encourage farmers to adopt advanced technologies. This drives the growth of the wheat seeds market as improved seed varieties become more accessible.
- Advancements in Seed Genetics: Technology on seed genetics is fast developing in the wheat seeds market. Advances in GMO and hybrid varieties enhance yield and disease resistance. Such developments are contributing to better resilience from farmers, overcoming challenges with climate change and pest pressure, which enhance market growth.
- Sustainability Trends: There is an increasing trend towards adopting sustainable agriculture practices in the wheat seeds market. Aspects of eco-friendly farming practices, such as reduced chemical usage and crop rotation, are increasingly adopted in promoting soil health and biodiversity by farmers. It would thus meet the demand for sustainable products from consumers while at the same time enhancing long-term agricultural viability.
- Increased Demand for Hybrid Wheat Varieties: The main reasons for the increase in demand for hybrid varieties of wheat are its high yield potential as well as adaptability. Hybrids are expected to perform stable and productive across diverse environments and thereby increase profitability to farmers. This development is reflective of broader trends toward more efficient and resilient agriculture.
- Opportunities in Developing Markets: The wheat seeds market is one of the greatest opportunities to grow in developing markets. With an accompanying increase in populations and increases in incomes in developing countries also comes a rising demand for wheat as a staple food. Companies can take advantage of these trends by introducing high-quality, adaptable seed varieties suitable for local conditions.
- Growing Demand for Organic and Sustainable Wheat Seed Varieties: The emerging possibility to introduce organic, more environmental-friendly seed varieties responds to the consumers' demand to have agriculture practiced in a sustainable manner. If companies focus on more organic, environmentally-friendly wheat seeds, they'll attract more environmentally-conscious farmers and customers, so their market share will be much larger while attempting to aid sustainability efforts across the globe.
- The Role of Digital Agriculture Technologies: This way, the introduction of digital agriculture technologies into the wheat seeds market becomes an opportunity. Use, for example, through the application of data analytics, precision farming, and smart irrigation, can ensure that seed performance and yield improve. As a result, companies will be able to pass on the insights gathered to farmers to improve productivity and relate better over time.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Wheat Seeds 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 Wheat Seeds 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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- 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
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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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to country scope.
Frequently Asked Questions
The Wheat Seeds Market is estimated to witness a CAGR of 4 % from 2023 to 2031
Rising consumption of wheat in developing countries, coupled with dietary shifts toward wheat-based products are the major factors driving the wheat seeds market growth.
significant technological advancements in seed genetics and growing trend towards sustainable agriculture practices within the wheat seeds market is likely to remain the key trends in the market.
Bayer AG, Corteva Agriscience, Syngenta International AG, Groupe Limagrain, KWS Saat SE & Co. KGa, Monsanto, Northern Seeds, Pro Harvest, DuPont, AGT are the key players operating in the market
Based on geography, Asia Pacific held the largest share of the wheat seeds market.
The report can be delivered in PDF/Word format, we can also share excel data sheet based on request.
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Wheat Seeds Market - By Type
1.3.2 Wheat Seeds Market - By Trait
1.3.3 Wheat Seeds Market - By Seed Treatment
1.3.4 Wheat Seeds Market - By Region
1.3.4.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. WHEAT SEEDS 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. WHEAT SEEDS 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. WHEAT SEEDS MARKET - GLOBAL MARKET ANALYSIS
6.1. WHEAT SEEDS - GLOBAL MARKET OVERVIEW
6.2. WHEAT SEEDS - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING
7. WHEAT SEEDS MARKET - REVENUE AND FORECASTS TO 2028 - TYPE
7.1. OVERVIEW
7.2. TYPE MARKET FORECASTS AND ANALYSIS
7.3. GM
7.3.1. Overview
7.3.2. GM Market Forecast and Analysis
7.4. NON-GM
7.4.1. Overview
7.4.2. Non-GM Market Forecast and Analysis
8. WHEAT SEEDS MARKET - REVENUE AND FORECASTS TO 2028 - TRAIT
8.1. OVERVIEW
8.2. TRAIT MARKET FORECASTS AND ANALYSIS
8.3. DROUGHT TOLERANT
8.3.1. Overview
8.3.2. Drought Tolerant Market Forecast and Analysis
8.4. HERBICIDE TOLERANT
8.4.1. Overview
8.4.2. Herbicide Tolerant Market Forecast and Analysis
8.5. OTHERS
8.5.1. Overview
8.5.2. Others Market Forecast and Analysis
9. WHEAT SEEDS MARKET - REVENUE AND FORECASTS TO 2028 - SEED TREATMENT
9.1. OVERVIEW
9.2. SEED TREATMENT MARKET FORECASTS AND ANALYSIS
9.3. TREATED
9.3.1. Overview
9.3.2. Treated Market Forecast and Analysis
9.4. UNTREATED
9.4.1. Overview
9.4.2. Untreated Market Forecast and Analysis
10. WHEAT SEEDS MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America Wheat Seeds Market Overview
10.1.2 North America Wheat Seeds Market Forecasts and Analysis
10.1.3 North America Wheat Seeds Market Forecasts and Analysis - By Type
10.1.4 North America Wheat Seeds Market Forecasts and Analysis - By Trait
10.1.5 North America Wheat Seeds Market Forecasts and Analysis - By Seed Treatment
10.1.6 North America Wheat Seeds Market Forecasts and Analysis - By Countries
10.1.6.1 United States Wheat Seeds Market
10.1.6.1.1 United States Wheat Seeds Market by Type
10.1.6.1.2 United States Wheat Seeds Market by Trait
10.1.6.1.3 United States Wheat Seeds Market by Seed Treatment
10.1.6.2 Canada Wheat Seeds Market
10.1.6.2.1 Canada Wheat Seeds Market by Type
10.1.6.2.2 Canada Wheat Seeds Market by Trait
10.1.6.2.3 Canada Wheat Seeds Market by Seed Treatment
10.1.6.3 Mexico Wheat Seeds Market
10.1.6.3.1 Mexico Wheat Seeds Market by Type
10.1.6.3.2 Mexico Wheat Seeds Market by Trait
10.1.6.3.3 Mexico Wheat Seeds Market by Seed Treatment
10.2. EUROPE
10.2.1 Europe Wheat Seeds Market Overview
10.2.2 Europe Wheat Seeds Market Forecasts and Analysis
10.2.3 Europe Wheat Seeds Market Forecasts and Analysis - By Type
10.2.4 Europe Wheat Seeds Market Forecasts and Analysis - By Trait
10.2.5 Europe Wheat Seeds Market Forecasts and Analysis - By Seed Treatment
10.2.6 Europe Wheat Seeds Market Forecasts and Analysis - By Countries
10.2.6.1 Germany Wheat Seeds Market
10.2.6.1.1 Germany Wheat Seeds Market by Type
10.2.6.1.2 Germany Wheat Seeds Market by Trait
10.2.6.1.3 Germany Wheat Seeds Market by Seed Treatment
10.2.6.2 France Wheat Seeds Market
10.2.6.2.1 France Wheat Seeds Market by Type
10.2.6.2.2 France Wheat Seeds Market by Trait
10.2.6.2.3 France Wheat Seeds Market by Seed Treatment
10.2.6.3 Italy Wheat Seeds Market
10.2.6.3.1 Italy Wheat Seeds Market by Type
10.2.6.3.2 Italy Wheat Seeds Market by Trait
10.2.6.3.3 Italy Wheat Seeds Market by Seed Treatment
10.2.6.4 United Kingdom Wheat Seeds Market
10.2.6.4.1 United Kingdom Wheat Seeds Market by Type
10.2.6.4.2 United Kingdom Wheat Seeds Market by Trait
10.2.6.4.3 United Kingdom Wheat Seeds Market by Seed Treatment
10.2.6.5 Russia Wheat Seeds Market
10.2.6.5.1 Russia Wheat Seeds Market by Type
10.2.6.5.2 Russia Wheat Seeds Market by Trait
10.2.6.5.3 Russia Wheat Seeds Market by Seed Treatment
10.2.6.6 Rest of Europe Wheat Seeds Market
10.2.6.6.1 Rest of Europe Wheat Seeds Market by Type
10.2.6.6.2 Rest of Europe Wheat Seeds Market by Trait
10.2.6.6.3 Rest of Europe Wheat Seeds Market by Seed Treatment
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific Wheat Seeds Market Overview
10.3.2 Asia-Pacific Wheat Seeds Market Forecasts and Analysis
10.3.3 Asia-Pacific Wheat Seeds Market Forecasts and Analysis - By Type
10.3.4 Asia-Pacific Wheat Seeds Market Forecasts and Analysis - By Trait
10.3.5 Asia-Pacific Wheat Seeds Market Forecasts and Analysis - By Seed Treatment
10.3.6 Asia-Pacific Wheat Seeds Market Forecasts and Analysis - By Countries
10.3.6.1 Australia Wheat Seeds Market
10.3.6.1.1 Australia Wheat Seeds Market by Type
10.3.6.1.2 Australia Wheat Seeds Market by Trait
10.3.6.1.3 Australia Wheat Seeds Market by Seed Treatment
10.3.6.2 China Wheat Seeds Market
10.3.6.2.1 China Wheat Seeds Market by Type
10.3.6.2.2 China Wheat Seeds Market by Trait
10.3.6.2.3 China Wheat Seeds Market by Seed Treatment
10.3.6.3 India Wheat Seeds Market
10.3.6.3.1 India Wheat Seeds Market by Type
10.3.6.3.2 India Wheat Seeds Market by Trait
10.3.6.3.3 India Wheat Seeds Market by Seed Treatment
10.3.6.4 Japan Wheat Seeds Market
10.3.6.4.1 Japan Wheat Seeds Market by Type
10.3.6.4.2 Japan Wheat Seeds Market by Trait
10.3.6.4.3 Japan Wheat Seeds Market by Seed Treatment
10.3.6.5 South Korea Wheat Seeds Market
10.3.6.5.1 South Korea Wheat Seeds Market by Type
10.3.6.5.2 South Korea Wheat Seeds Market by Trait
10.3.6.5.3 South Korea Wheat Seeds Market by Seed Treatment
10.3.6.6 Rest of Asia-Pacific Wheat Seeds Market
10.3.6.6.1 Rest of Asia-Pacific Wheat Seeds Market by Type
10.3.6.6.2 Rest of Asia-Pacific Wheat Seeds Market by Trait
10.3.6.6.3 Rest of Asia-Pacific Wheat Seeds Market by Seed Treatment
10.4. MIDDLE EAST AND AFRICA
10.4.1 Middle East and Africa Wheat Seeds Market Overview
10.4.2 Middle East and Africa Wheat Seeds Market Forecasts and Analysis
10.4.3 Middle East and Africa Wheat Seeds Market Forecasts and Analysis - By Type
10.4.4 Middle East and Africa Wheat Seeds Market Forecasts and Analysis - By Trait
10.4.5 Middle East and Africa Wheat Seeds Market Forecasts and Analysis - By Seed Treatment
10.4.6 Middle East and Africa Wheat Seeds Market Forecasts and Analysis - By Countries
10.4.6.1 South Africa Wheat Seeds Market
10.4.6.1.1 South Africa Wheat Seeds Market by Type
10.4.6.1.2 South Africa Wheat Seeds Market by Trait
10.4.6.1.3 South Africa Wheat Seeds Market by Seed Treatment
10.4.6.2 Saudi Arabia Wheat Seeds Market
10.4.6.2.1 Saudi Arabia Wheat Seeds Market by Type
10.4.6.2.2 Saudi Arabia Wheat Seeds Market by Trait
10.4.6.2.3 Saudi Arabia Wheat Seeds Market by Seed Treatment
10.4.6.3 U.A.E Wheat Seeds Market
10.4.6.3.1 U.A.E Wheat Seeds Market by Type
10.4.6.3.2 U.A.E Wheat Seeds Market by Trait
10.4.6.3.3 U.A.E Wheat Seeds Market by Seed Treatment
10.4.6.4 Rest of Middle East and Africa Wheat Seeds Market
10.4.6.4.1 Rest of Middle East and Africa Wheat Seeds Market by Type
10.4.6.4.2 Rest of Middle East and Africa Wheat Seeds Market by Trait
10.4.6.4.3 Rest of Middle East and Africa Wheat Seeds Market by Seed Treatment
10.5. SOUTH AND CENTRAL AMERICA
10.5.1 South and Central America Wheat Seeds Market Overview
10.5.2 South and Central America Wheat Seeds Market Forecasts and Analysis
10.5.3 South and Central America Wheat Seeds Market Forecasts and Analysis - By Type
10.5.4 South and Central America Wheat Seeds Market Forecasts and Analysis - By Trait
10.5.5 South and Central America Wheat Seeds Market Forecasts and Analysis - By Seed Treatment
10.5.6 South and Central America Wheat Seeds Market Forecasts and Analysis - By Countries
10.5.6.1 Brazil Wheat Seeds Market
10.5.6.1.1 Brazil Wheat Seeds Market by Type
10.5.6.1.2 Brazil Wheat Seeds Market by Trait
10.5.6.1.3 Brazil Wheat Seeds Market by Seed Treatment
10.5.6.2 Argentina Wheat Seeds Market
10.5.6.2.1 Argentina Wheat Seeds Market by Type
10.5.6.2.2 Argentina Wheat Seeds Market by Trait
10.5.6.2.3 Argentina Wheat Seeds Market by Seed Treatment
10.5.6.3 Rest of South and Central America Wheat Seeds Market
10.5.6.3.1 Rest of South and Central America Wheat Seeds Market by Type
10.5.6.3.2 Rest of South and Central America Wheat Seeds Market by Trait
10.5.6.3.3 Rest of South and Central America Wheat Seeds Market by Seed Treatment
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. WHEAT SEEDS MARKET, KEY COMPANY PROFILES
12.1. BAYER AG
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. CORTEVA AGRISCIENCE
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. SYNGENTA INTERNATIONAL AG
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. GROUPE LIMAGRAIN
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. KWS SAAT SE AND CO. KGAA
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. MONSANTO
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. NORTHERN SEEDS
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. PRO HARVEST
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. DUPONT
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. AGT
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
1. Bayer AG
2. Corteva Agriscience
3. Syngenta International AG
4. Groupe Limagrain
5. KWS Saat SE and Co. KGaA
6. Monsanto
7. Northern Seeds
8. Pro Harvest
9. DuPont
10. AGT
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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