[Research Report] The sodium bicarbonate market is expected to grow from US$ 1,596.37 million in 2021 to US$ 2,133.33 million by 2028; it is expected to grow at a CAGR of 4.3% from 2021 to 2028.
Sodium bicarbonate is commonly known as baking soda or bicarbonate of soda. It is a chemical compound with the formula NaHCO₃. There is a wide range of applications of sodium bicarbonate. It is widely used in food & beverages, chemical, pharmaceutical, agriculture, and cosmetic & personal care industries.
In 2021, Asia Pacific held the largest revenue share of the global sodium bicarbonate market. The increasing use of sodium bicarbonate in various applications such as animal feed, bakery food, cleaning products, and cosmetic products is mainly driving the market growth in Asia Pacific. Rising disposable income is associated with elevated consumer demand for different bakery products. Moreover, improving socio-economic standards and large-scale development of the digital & manufacturing sectors are leading to high demand for cosmetic products in countries such as India. The cosmetics industry in the region is growing faster, with many people buying personal care and beauty products. Hence, the demand for sodium bicarbonate is increasing as it is used in toothpastes, deodorizers, face packs, face cleansing foams and gels, and cosmetic powders in the cosmetic & personal care industry.
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Sodium Bicarbonate Market: Strategic Insights
Market Size Value in US$ 1,596.37 Million in 2021 Market Size Value by US$ 2,133.33 Million by 2028 Growth rate CAGR of 4.3% from 2021 to 2028 Forecast Period 2021-2028 Base Year 2021
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Sodium Bicarbonate Market: Strategic Insights
| Market Size Value in | US$ 1,596.37 Million in 2021 |
| Market Size Value by | US$ 2,133.33 Million by 2028 |
| Growth rate | CAGR of 4.3% from 2021 to 2028 |
| Forecast Period | 2021-2028 |
| Base Year | 2021 |
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Impact of COVID-19 Pandemic on Sodium Bicarbonate Market
The COVID-19 pandemic has affected economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. In 2020, various industries had to slow down their operations due to disruptions in value chains caused by the restrictions on national and international boundaries. The pandemic disturbed manufacturing processes and created raw materials supply chain disruptions due to restrictions imposed by government authorities. The COVID-19 pandemic forced people to stay inside their homes. People had turned to improve their culinary skills in the extra time. Many people have started indulging in baking and cooking activities. This has created a demand for different bakery ingredients, including sodium bicarbonate.
Various industries are also overcoming the challenges related to the supply chain disruptions of their raw materials. Therefore, the demand for sodium bicarbonate is increasing in different industries.
Market Insights
Rising Consumption of Baked Food
Sodium bicarbonate is one of the most commonly used ingredients in baking. It can be used as a leavening agent, pH buffer, and effervescent agent in bakery industries. Bread, biscuits, cakes, pies, and pastries are among the most common products in the baking industry globally. Bread is a staple food in many European countries. Organic bread is also becoming extensively popular. In terms of organic bread, Germany is becoming one of the largest markets in Europe. Germany has a wide variety of bread due to the country's climatic conditions. It has a climate that allows all kinds of grain to be cultivated. The bakery industry in the US is well-established. Further, the baked goods industry in Australia is growing as consumers continue to buy a wide variety of high-quality, freshly baked food products owing to the increasing desire for healthy food options. Therefore, the surging consumption of baked food is driving the global sodium bicarbonate market.
Grade Insights
Based on grade, the global sodium bicarbonate market is segmented into food grade, pharmaceutical grade, feed grade, and technical grade and others. The technical grade and others segment held the largest share in the global sodium bicarbonate market in 2021. Technical grade sodium bicarbonate is commonly used for commercial and industrial purposes. It is utilized in different applications, including chemical synthesis, dyes, leather, fire extinguishers, water and wastewater treatment, plastic molding, ceramics, textile, waste gas desulphurization, and paper production.
End User Insights
Based on end user, the global sodium bicarbonate market is segmented into food & beverages, pharmaceutical, agriculture, chemical, cosmetic & personal care, textile & leather, homecare, and others. The food & beverages segment held the largest share in the global sodium bicarbonate market in 2021. Sodium bicarbonate is an essential ingredient in the food & beverages industry. It is a valuable buffer and neutralizer in beverages. In several soft drinks, sodium bicarbonate is used as a source of CO2.
Solvay S.A.; Tosoh Corporation; Burwell Technologies; All Chemical Manufacturing & Consultancy Pty Ltd; Pon Pure Chemicals Group; Church & Dwight, Inc.; Sişecam; AGC Inc.; Ciech S.A.; and GHCL Limited are a few of the major players operating in the global sodium bicarbonate market. Market players are focused on providing high-quality products to fulfill customer demand.
Report Spotlights
- Progressive industry trends in the sodium bicarbonate market to help players develop effective long-term strategies
- Business growth strategies adopted by developed and developing markets
- Quantitative analysis of the sodium bicarbonate market from 2020 to 2028
- Estimation of global demand for sodium bicarbonate
- Porter’s Five Forces analysis to illustrate the efficacy of buyers and suppliers operating in the industry
- Recent developments to understand the competitive market scenario
- Market trends and outlook, as well as factors driving and restraining the growth of the sodium bicarbonate market
- Assistance in the decision-making process by highlighting market strategies that underpin commercial interest, leading to the market growth
- The size of the sodium bicarbonate market at various nodes
- Detailed overview and segmentation of the market, as well as the sodium bicarbonate industry dynamics
- Size of the sodium bicarbonate market in various regions with promising growth opportunities
Sodium Bicarbonate Market Report Scope
Global Sodium Bicarbonate Market, by Grade
- Food Grade
- Pharmaceutical Grade
- Feed Grade
- Technical Grade and Others
Global Sodium Bicarbonate Market, by Form
- Powder
- Liquid
Global Sodium Bicarbonate Market, by End User
- Food & Beverages
- Pharmaceutical
- Agriculture
- Chemical
- Cosmetic & Personal Care
- Textile & Leather
- Homecare
- Others
Company Profiles
- Solvay S.A.
- Tosoh Corporation
- Burwell Technologies
- All Chemical Manufacturing & Consultancy Pty Ltd
- Pon Pure Chemicals Group
- Church & Dwight, Inc.
- Sişecam
- AGC Inc.
- Ciech S.A.
- GHCL Limited
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Grade, Form, and End User
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States
Frequently Asked Questions
The sodium bicarbonate market is expanding as a result of rising consumer demand for convenience foods. Its usage in baked products such as bread, biscuits, and cakes is driven by its capacity to neutralise acidic conditions and maintain a stable PH level in food. Additionally, sodium bicarbonate's low environmental impact and lower manufacturing costs are advantageous to baking soda manufacturers.
During the forecast period, the agriculture segment is expected to be the fastest-growing segment. Using sodium bicarbonate in agrochemicals is driven by treating insects in farmlands and washing pesticides from fruits & vegetables. Moreover, it is environment friendly natural agent therefore used in the form of pesticides in agricultural farm which is expected to accelerate sodium bicarbonate market demand during the forecast period.
In 2021, the powder held the largest market share. The powder form of sodium bicarbonate is widely used in baking products such as cakes, biscuits, and bread. It is also used as a cleansing agent due to its mild disinfectant properties. Moreover, animal feed and fire extinguishers' applications led to the powder segment's dominance in 2021.
In 2021, the technical grade and others segment held the largest market share. Increasing usage of technical grade sodium bicarbonate for applications such as chemical synthesis, dyes, leather, fire extinguishers, water treatment, and plastic moulding has led to the dominance of technical grade and others segment in the sodium bicarbonate market.
The major players operating in the sodium bicarbonate market are Solvay S.A., Tosoh Corporation, Church & Dwight, Inc., SiÅŸecam, AGC Inc., Ciech S.A., Tata Chemicals, Ciner Group, Bashkhim Group, and Novacap Group.
In 2021, Asia-Pacific accounted for the largest share of the global sodium bicarbonate market. Growing demand from different end-use industries, including food and beverages, animal feed, pharmaceuticals, and textiles, led to the dominance of the Asia Pacific region in 2021.
1. Introduction
1.1 The Insight Partners Research Report Guidance
1.2 Market Segmentation
1.2.1 Sodium Bicarbonate Market, by Grade
1.2.2 Sodium Bicarbonate Market, by Source
1.2.3 Sodium Bicarbonate Market, by Application
1.2.4 Sodium Bicarbonate Market, by Geography
2. Key Takeaways
3. Research Methodology
3.1 Scope of the Study
3.1.1 Sodium Bicarbonate Market, by Grade, Source, and Application
3.2 Research Methodology
3.2.1 Data Collection:
3.2.2 Primary Interviews:
3.2.3 Hypothesis formulation:
3.2.4 Macro-economic factor analysis:
3.2.5 Developing base number:
3.2.6 Data Triangulation:
3.2.7 Country level data:
4. Sodium Bicarbonate Market Landscape
4.1 Market Overview
4.2 Porter’s Five Forces Analysis
4.2.1 Threat of New Entrants:
4.2.2 Bargaining Power of Suppliers:
4.2.3 Bargaining Power of Buyers:
4.2.4 Competitive Rivalry:
4.2.5 Threat of Substitutes:
4.3 Ecosystem Analysis
4.4 Expert Opinion
5. Sodium Bicarbonate Market – Key Market Dynamics
5.1 Market Drivers
5.2 Market Restraints
5.3 Market Opportunities
5.4 Future Trends
5.5 Impact Analysis of Drivers and Restraints
6. Sodium Bicarbonate – Global Market Analysis
6.1 Sodium Bicarbonate Market Overview
6.2 Sodium Bicarbonate Market –Revenue and Forecast to 2028 (US$ Mn)
6.3 Competitive Positioning – Key Market Players
7. Sodium Bicarbonate Market Analysis – By Grade
7.1 Overview
7.2 Sodium Bicarbonate Market, By Grade (2021 and 2028)
7.3 Food Grade
7.3.1 Overview
7.3.2 Food Grade: Sodium Bicarbonate Market – Revenue and Forecast to 2028 (US$ Million)
7.3.3 Food Grade: Sodium Bicarbonate Market – Volume and Forecast to 2028 (Tons)
7.4 Pharmaceutical Grade
7.4.1 Overview
7.4.2 Pharmaceutical Grade: Sodium Bicarbonate Market – Revenue and Forecast to 2028 (US$ Million)
7.4.3 Pharmaceutical Grade: Sodium Bicarbonate Market – Volume and Forecast to 2028 (Tons)
7.5 Feed Grade
7.5.1 Overview
7.5.2 Feed Grade: Sodium Bicarbonate Market – Revenue and Forecast to 2028 (US$ Million)
7.5.3 Feed Grade: Sodium Bicarbonate Market – Volume and Forecast to 2028 (Tons)
7.6 Technical Grade and Others
7.6.1 Overview
7.6.2 Technical Grade and Others: Sodium Bicarbonate Market – Revenue and Forecast to 2028 (US$ Million)
7.6.3 Technical Grade and Others: Sodium Bicarbonate Market – Volume and Forecast to 2028 (Tons)
8. Sodium Bicarbonate Market Analysis – By Form
8.1 Overview
8.2 Sodium Bicarbonate Market, By Form (2021 and 2028)
8.3 Powder
8.3.1 Overview
8.3.2 Powder: Sodium Bicarbonate Market – Revenue and Forecast to 2028 (US$ Million)
8.4 Liquid
8.4.1 Overview
8.4.2 Liquid: Sodium Bicarbonate Market – Revenue and Forecast to 2028 (US$ Million)
9. Sodium Bicarbonate Market Analysis – By End User
9.1 Overview
9.2 Sodium Bicarbonate Market, By End User (2021 and 2028)
9.3 Food and Beverage
9.3.1 Overview
9.3.2 Food and Beverage: Sodium Bicarbonate Market – Revenue and Forecast to 2028 (US$ Million)
9.4 Pharmaceutical
9.4.1 Overview
9.4.2 Pharmaceutical: Sodium Bicarbonate Market – Revenue and Forecast to 2028 (US$ Million)
9.5 Agriculture
9.5.1 Overview
9.5.2 Agriculture: Sodium Bicarbonate Market – Revenue and Forecast to 2028 (US$ Million)
9.6 Chemical
9.6.1 Overview
9.6.2 Chemical: Sodium Bicarbonate Market – Revenue and Forecast to 2028 (US$ Million)
9.7 Cosmetic and Personal Care
9.7.1 Overview
9.7.2 Cosmetic and Personal Care: Sodium Bicarbonate Market – Revenue and Forecast to 2028 (US$ Million)
9.8 Textile and Leather
9.8.1 Overview
9.8.2 Textile and Leather: Sodium Bicarbonate Market – Revenue and Forecast to 2028 (US$ Million)
9.9 Homecare
9.9.1 Overview
9.9.2 Homecare: Sodium Bicarbonate Market – Revenue and Forecast to 2028 (US$ Million)
9.10 Others
9.10.1 Overview
9.10.2 Others: Sodium Bicarbonate Market – Revenue and Forecast to 2028 (US$ Million)
10. Sodium Bicarbonate Market – Geographic Analysis
10.1 Overview
10.2 North America: Sodium Bicarbonate Market
10.2.1 North America: Sodium Bicarbonate Market –Revenue and Forecast to 2028 (US$ Million) (Tons)
10.2.2 North America: Sodium Bicarbonate Market, by Grade
10.2.3 North America: Sodium Bicarbonate Market, by Source
10.2.4 North America: Sodium Bicarbonate Market, by Application
10.2.5 North America: Sodium Bicarbonate Market, by Key Country
10.2.5.1 US: Sodium Bicarbonate Market–Analysis and Forecast to 2028 (US$ Million) (Tons)
10.2.5.1.1 US: Sodium Bicarbonate Market, by Grade
10.2.5.1.2 US: Sodium Bicarbonate Market, by Source
10.2.5.1.3 US: Sodium Bicarbonate Market, by Application
10.2.5.2 Canada: Sodium Bicarbonate Market–Analysis and Forecast to 2028 (US$ Million) (Tons)
10.2.5.2.1 Canada: Sodium Bicarbonate Market, by Grade
10.2.5.2.2 Canada: Sodium Bicarbonate Market, by Source
10.2.5.2.3 Canada: Sodium Bicarbonate Market, by Application
10.2.5.3 Mexico: Sodium Bicarbonate Market–Revenue and Forecast to 2028 (US$ Million) (Tons)
10.2.5.3.1 Mexico: Sodium Bicarbonate Market, by Grade
10.2.5.3.2 Mexico: Sodium Bicarbonate Market, by Source
10.2.5.3.3 Mexico: Sodium Bicarbonate Market, by Application
10.3 Europe: Sodium Bicarbonate Market
10.3.1 Europe: Sodium Bicarbonate Market – Analysis and Forecast to 2028 (USD Mn)
10.3.2 Europe: Sodium Bicarbonate Market, by Grade
10.3.3 Europe: Sodium Bicarbonate Market, by Source
10.3.4 Europe: Sodium Bicarbonate Market, by Application
10.3.5 Europe: Sodium Bicarbonate Market, by Key Country
10.3.5.1 Germany: Sodium Bicarbonate Market –Analysis and Forecast to 2028 (USD Mn)
10.3.5.1.1 Germany: Sodium Bicarbonate Market, by Grade
10.3.5.1.2 Germany: Sodium Bicarbonate Market, by Source
10.3.5.1.3 Germany: Sodium Bicarbonate Market, by Application
10.3.5.2 France: Sodium Bicarbonate Market –Analysis and Forecast to 2028 (USD Mn)
10.3.5.2.1 France: Sodium Bicarbonate Market, by Grade
10.3.5.2.2 France: Sodium Bicarbonate Market, by Source
10.3.5.2.3 France: Sodium Bicarbonate Market, by Application
10.3.5.3 UK: Sodium Bicarbonate Market –Analysis and Forecast to 2028 (USD Mn)
10.3.5.3.1 UK: Sodium Bicarbonate Market, by Grade
10.3.5.3.2 UK: Sodium Bicarbonate Market, by Source
10.3.5.3.3 UK: Sodium Bicarbonate Market, by Application
10.3.5.4 Italy: Sodium Bicarbonate Market –Analysis and Forecast to 2028 (USD Mn)
10.3.5.4.1 Italy: Sodium Bicarbonate Market, by Grade
10.3.5.4.2 Italy: Sodium Bicarbonate Market, by Source
10.3.5.4.3 Italy: Sodium Bicarbonate Market, by Application
10.3.5.5 Russia: Sodium Bicarbonate Market –Analysis and Forecast to 2028 (USD Mn)
10.3.5.5.1 Russia: Sodium Bicarbonate Market, by Grade
10.3.5.5.2 Russia: Sodium Bicarbonate Market, by Source
10.3.5.5.3 Russia: Sodium Bicarbonate Market, by Application
10.3.5.6 Rest of Europe: Sodium Bicarbonate Market –Analysis and Forecast to 2028 (USD Mn)
10.3.5.6.1 Rest of Europe: Sodium Bicarbonate Market, by Grade
10.3.5.6.2 Rest of Europe: Sodium Bicarbonate Market, by Source
10.3.5.6.3 Rest of Europe: Sodium Bicarbonate Market, by Application
10.4 Asia-Pacific: Sodium Bicarbonate Market
10.4.1 Asia- Pacific: Sodium Bicarbonate Market –Revenue and Forecast to 2028 (US$ Million) (Tons)
10.4.2 Asia-Pacific: Sodium Bicarbonate Market, By Grade
10.4.3 Asia-Pacific: Sodium Bicarbonate Market, by Source
10.4.4 Asia-Pacific: Sodium Bicarbonate Market, by Application
10.4.5 Asia- Pacific: Sodium Bicarbonate Market, by Key Country
10.4.5.1 Australia: Sodium Bicarbonate Market –Revenue and Forecast to 2028 (US$ Million) (Tons)
10.4.5.1.1 Australia: Sodium Bicarbonate Market, by Grade
10.4.5.1.2 Australia: Sodium Bicarbonate Market, by Source
10.4.5.1.3 Australia: Sodium Bicarbonate Market, by Application
10.4.5.2 China: Sodium Bicarbonate Market –Revenue and Forecast to 2028 (US$ Million) (Tons)
10.4.5.2.1 China: Sodium Bicarbonate Market, by Grade
10.4.5.2.2 China: Sodium Bicarbonate Market, by Source
10.4.5.2.3 China: Sodium Bicarbonate Market, by Application
10.4.5.3 India: Sodium Bicarbonate Market –Revenue and Forecast to 2028 (US$ Million) (Tons)
10.4.5.3.1 India: Sodium Bicarbonate Market, by Grade
10.4.5.3.2 India: Sodium Bicarbonate Market, by Source
10.4.5.3.3 India: Sodium Bicarbonate Market, by Application
10.4.5.4 Japan: Sodium Bicarbonate Market –Revenue and Forecast to 2028 (US$ Million) (Tons)
10.4.5.4.1 Japan: Sodium Bicarbonate Market, by Grade
10.4.5.4.2 Japan: Sodium Bicarbonate Market, by Source
10.4.5.4.3 Japan: Sodium Bicarbonate Market, by Application
10.4.5.5 South Korea: Sodium Bicarbonate Market –Revenue and Forecast to 2028 (US$ Million) (Tons)
10.4.5.5.1 South Korea: Sodium Bicarbonate Market, by Grade
10.4.5.5.2 South Korea: Sodium Bicarbonate Market, by Source
10.4.5.5.3 South Korea: Sodium Bicarbonate Market, by Application
10.4.5.6 Rest of Asia-Pacific: Sodium Bicarbonate Market –Revenue and Forecast to 2028 (US$ Million) (Tons)
10.4.5.6.1 Rest of Asia-Pacific: Sodium Bicarbonate Market, by Grade
10.4.5.6.2 Rest of Asia-Pacific: Sodium Bicarbonate Market, by Source
10.4.5.6.3 Rest of Asia-Pacific: Sodium Bicarbonate Market, by Application
10.5 Middle East and Africa: Sodium Bicarbonate Market
10.5.1 Middle East and Africa: Sodium Bicarbonate Market –Revenue and Forecast to 2028 (US$ Million) (Tons)
10.5.2 Middle East and Africa: Sodium Bicarbonate Market, By Grade
10.5.3 Middle East and Africa: Sodium Bicarbonate Market, by Source
10.5.4 Middle East and Africa: Sodium Bicarbonate Market, by Application
10.5.5 Middle East and Africa: Sodium Bicarbonate Market, by Key Country
10.5.5.1 South Africa: Sodium Bicarbonate Market –Revenue and Forecast to 2028 (US$ Million) (Tons)
10.5.5.1.1 South Africa: Sodium Bicarbonate Market, by Grade
10.5.5.1.2 South Africa: Sodium Bicarbonate Market, by Source
10.5.5.1.3 South Africa: Sodium Bicarbonate Market, by Application
10.5.5.2 Saudi Arabia: Sodium Bicarbonate Market –Revenue and Forecast to 2028 (US$ Million) (Tons)
10.5.5.2.1 Saudi Arabia: Sodium Bicarbonate Market, by Grade
10.5.5.2.2 Saudi Arabia: Sodium Bicarbonate Market, by Source
10.5.5.2.3 Saudi Arabia Sodium Bicarbonate Market, by Application
10.5.5.3 UAE: Sodium Bicarbonate Market –Revenue and Forecast to 2028 (US$ Million) (Tons)
10.5.5.3.1 UAE: Sodium Bicarbonate Market, by Grade
10.5.5.3.2 UAE: Sodium Bicarbonate Market, by Source
10.5.5.3.3 UAE Sodium Bicarbonate Market, by Application
10.5.5.4 Rest of the Middle East and Africa: Sodium Bicarbonate Market –Revenue and Forecast to 2028 (US$ Million) (Tons)
10.5.5.4.1 Rest of the Middle East and Africa: Sodium Bicarbonate Market, by Grade
10.5.5.4.2 Rest of the Middle East and Africa: Sodium Bicarbonate Market, by Source
10.5.5.4.3 Rest of the Middle East and Africa: Sodium Bicarbonate Market, by Application
10.6 South and Central America: Sodium Bicarbonate Market
10.6.1 South and Central America: Sodium Bicarbonate Market –Revenue and Forecast to 2028 (US$ Million) (Tons)
10.6.2 South and Central America: Sodium Bicarbonate Market, By Grade
10.6.3 South and Central America: Sodium Bicarbonate Market, by Source
10.6.4 South and Central America: Sodium Bicarbonate Market, by Application
10.6.5 South and Central America: Sodium Bicarbonate Market, by Key Country
10.6.5.1 Brazil: Sodium Bicarbonate Market –Revenue and Forecast to 2028 (US$ Million) (Tons)
10.6.5.1.1 Brazil: Sodium Bicarbonate Market, by Grade
10.6.5.1.2 Brazil: Sodium Bicarbonate Market, by Source
10.6.5.1.3 Brazil: Sodium Bicarbonate Market, by Application
10.6.5.2 Argentina: Sodium Bicarbonate Market –Revenue and Forecast to 2028 (US$ Million) (Tons)
10.6.5.2.1 Argentina: Sodium Bicarbonate Market, by Grade
10.6.5.2.2 Argentina: Sodium Bicarbonate Market, by Source
10.6.5.2.3 Argentina: Sodium Bicarbonate Market, by Application
10.6.5.3 Rest of South and Central America: Sodium Bicarbonate Market –Revenue and Forecast to 2028 (US$ Million) (Tons)
10.6.5.3.1 Rest of South and Central America: Sodium Bicarbonate Market, by Grade
10.6.5.3.2 Rest of South and Central America: Sodium Bicarbonate Market, by Source
10.6.5.3.3 Rest of South and Central America: Sodium Bicarbonate Market, by Application
11. Impact of COVID-19
11.1 Overview – Impact of COVID-19
11.2 Impact of COVID-19 on Sodium Bicarbonate Market
11.3 North America: Impact Assessment of COVID-19 Pandemic
11.4 Europe: Impact Assessment of COVID-19 Pandemic
11.5 Asia Pacific: Impact Assessment of COVID-19 Pandemic
11.6 Middle East and Africa: Impact Assessment of COVID-19 Pandemic
11.7 South America: Impact Assessment of COVID-19 Pandemic
12. Industry Landscape
12.1 Overview
12.2 Market Initiative
12.3 New Product Development
13. Company Profiles
13.1 Solvay S.A.
13.1.1 Key Facts
13.1.2 Business Description
13.1.3 Products and Services
13.1.4 Financial Overview
13.1.5 SWOT Analysis
13.1.6 Key Developments
13.2 Tosoh Corporation
13.2.1 Key Facts
13.2.2 Business Description
13.2.3 Products and Services
13.2.4 Financial Overview
13.2.5 SWOT Analysis
13.2.6 Key Developments
13.3 Burwell Technologies
13.3.1 Key Facts
13.3.2 Business Description
13.3.3 Products and Services
13.3.4 Financial Overview
13.3.5 SWOT Analysis
13.3.6 Key Developments
13.4 All Chemical Manufacturing & Consultancy Pty Ltd
13.4.1 Key Facts
13.4.2 Business Description
13.4.3 Products and Services
13.4.4 Financial Overview
13.4.5 SWOT Analysis
13.4.6 Key Developments
13.5 Pon Pure Chemicals Group
13.5.1 Key Facts
13.5.2 Business Description
13.5.3 Products and Services
13.5.4 Financial Overview
13.5.5 SWOT Analysis
13.5.6 Key Developments
13.6 Church & Dwight, Inc.
13.6.1 Key Facts
13.6.2 Business Description
13.6.3 Products and Services
13.6.4 Financial Overview
13.6.5 SWOT Analysis
13.6.6 Key Developments
13.7 Si?ecam
13.7.1 Key Facts
13.7.2 Business Description
13.7.3 Products and Services
13.7.4 Financial Overview
13.7.5 SWOT Analysis
13.7.6 Key Developments
13.8 AGC Inc.
13.8.1 Key Facts
13.8.2 Business Description
13.8.3 Products and Services
13.8.4 Financial Overview
13.8.5 SWOT Analysis
13.8.6 Key Developments
13.9 Ciech S.A.
13.9.1 Key Facts
13.9.2 Business Description
13.9.3 Products and Services
13.9.4 Financial Overview
13.9.5 SWOT Analysis
13.9.6 Key Developments
13.10 GHCL Limited
13.10.1 Key Facts
13.10.2 Business Description
13.10.3 Products and Services
13.10.4 Financial Overview
13.10.5 SWOT Analysis
13.10.6 Key Developments
14. Appendix
14.1 About The Insight Partners
14.2 Glossary of Terms
LIST OF TABLES
Table 1. Sodium Bicarbonate Market –Revenue and Forecast to 2028 (US$ Mn)
Table 2. Global Sodium Bicarbonate Market, by Grade – Revenue and Forecast to 2028 (US$ Million)
Table 3. Global Sodium Bicarbonate Market, by Source – Revenue and Forecast to 2028 (US$ Million)
Table 4. Global Sodium Bicarbonate Market, by Application – Revenue and Forecast to 2028 (US$ Million)
Table 5. North America Sodium Bicarbonate Market, by Grade – Revenue and Forecast to 2028 (USD Million)
Table 6. North America Sodium Bicarbonate Market, by Application – Revenue and Forecast to 2028 (USD Million)
Table 7. US: Sodium Bicarbonate Market, by Grade– Revenue and Forecast to 2028 (US$ Million)
Table 8. US: Sodium Bicarbonate Market, by Grade– Revenue and Forecast to 2028 (US$ Million)
Table 9. US: Sodium Bicarbonate Market, by Application – Revenue and Forecast to 2028 (US$ Million)
Table 10. Canada: Sodium Bicarbonate Market, by Grade– Revenue and Forecast to 2028 (USD Million)
Table 11. Canada: Sodium Bicarbonate Market, by Source– Revenue and Forecast to 2028 (USD Million)
Table 12. Canada: Sodium Bicarbonate Market, by Application – Revenue and Forecast to 2028 (USD Million)
Table 13. Mexico Sodium Bicarbonate Market, by Grade– Revenue and Forecast to 2028 (US$ Million)
Table 14. Mexico Sodium Bicarbonate Market, by Source– Revenue and Forecast to 2028 (US$ Million)
Table 15. Mexico Sodium Bicarbonate Market, by Application – Revenue and Forecast to 2028 (US$ Million)
Table 16. Europe Sodium Bicarbonate Market, by Grade – Revenue and Forecast to 2028 (USD Million)
Table 17. Europe Sodium Bicarbonate Market, by Source – Revenue and Forecast to 2028 (USD Million)
Table 18. Europe Sodium Bicarbonate Market, by Application – Revenue and Forecast to 2028 (USD Million)
Table 19. Germany Sodium Bicarbonate Market, by Grade – Revenue and Forecast to 2028 (USD Million)
Table 20. Germany Sodium Bicarbonate Market, by Source – Revenue and Forecast to 2028 (USD Million)
Table 21. Germany Sodium Bicarbonate Market, by Application – Revenue and Forecast to 2028 (USD Million)
Table 22. France Sodium Bicarbonate Market, by Grade – Revenue and Forecast to 2028 (USD Million)
Table 23. France Sodium Bicarbonate Market, by Source – Revenue and Forecast to 2028 (USD Million)
Table 24. France Sodium Bicarbonate Market, by Application – Revenue and Forecast to 2028 (USD Million)
Table 25. UK Sodium Bicarbonate Market, by Grade – Revenue and Forecast to 2028 (USD Million)
Table 26. UK Sodium Bicarbonate Market, by Source – Revenue and Forecast to 2028 (USD Million)
Table 27. UK Sodium Bicarbonate Market, by Application – Revenue and Forecast to 2028 (USD Million)
Table 28. Italy Sodium Bicarbonate Market, by Grade – Revenue and Forecast to 2028 (USD Million)
Table 29. Italy Sodium Bicarbonate Market, by Source – Revenue and Forecast to 2028 (USD Million)
Table 30. Italy Sodium Bicarbonate Market, by Application – Revenue and Forecast to 2028 (USD Million)
Table 31. Russia Sodium Bicarbonate Market, by Grade – Revenue and Forecast to 2028 (USD Million)
Table 32. Russia Sodium Bicarbonate Market, by Source – Revenue and Forecast to 2028 (USD Million)
Table 33. Russia Sodium Bicarbonate Market, by Application – Revenue and Forecast to 2028 (USD Million)
Table 34. Rest of Europe Sodium Bicarbonate Market, by Grade – Revenue and Forecast to 2028 (USD Million)
Table 35. Rest of Europe Sodium Bicarbonate Market, by Source – Revenue and Forecast to 2028 (USD Million)
Table 36. Rest of Europe Sodium Bicarbonate Market, by Application – Revenue and Forecast to 2028 (USD Million)
Table 37. Asia Pacific Sodium Bicarbonate Market, by Grade – Revenue and Forecast to 2028 (USD Million)
Table 38. Asia Pacific Sodium Bicarbonate Market, by Source – Revenue and Forecast to 2028 (USD Million)
Table 39. Asia Pacific Sodium Bicarbonate Market, by Application – Revenue and Forecast to 2028 (USD Million)
Table 40. Australia Sodium Bicarbonate Market, by Grade – Revenue and Forecast to 2028 (USD Million)
Table 41. Australia Sodium Bicarbonate Market, by Source – Revenue and Forecast to 2028 (USD Million)
Table 42. Australia Sodium Bicarbonate Market, by Application – Revenue and Forecast to 2028 (USD Million)
Table 43. China Sodium Bicarbonate Market, by Grade – Revenue and Forecast to 2028 (USD Million)
Table 44. China Sodium Bicarbonate Market, by Source – Revenue and Forecast to 2028 (USD Million)
Table 45. China Sodium Bicarbonate Market, by Application – Revenue and Forecast to 2028 (USD Million)
Table 46. India Sodium Bicarbonate Market, by Grade – Revenue and Forecast to 2028 (USD Million)
Table 47. India Sodium Bicarbonate Market, by Source – Revenue and Forecast to 2028 (USD Million)
Table 48. India Sodium Bicarbonate Market, by Application – Revenue and Forecast to 2028 (USD Million)
Table 49. Japan Sodium Bicarbonate Market, by Grade – Revenue and Forecast to 2028 (USD Million)
Table 50. Japan Sodium Bicarbonate Market, by Source – Revenue and Forecast to 2028 (USD Million)
Table 51. Japan Sodium Bicarbonate Market, by Application – Revenue and Forecast to 2028 (USD Million)
Table 52. South Korea Sodium Bicarbonate Market, by Grade – Revenue and Forecast to 2028 (USD Million)
Table 53. South Korea Sodium Bicarbonate Market, by Source – Revenue and Forecast to 2028 (USD Million)
Table 54. South Korea Sodium Bicarbonate Market, by Application – Revenue and Forecast to 2028 (USD Million)
Table 55. Rest of Asia Pacific Sodium Bicarbonate Market, by Grade – Revenue and Forecast to 2028 (USD Million)
Table 56. Rest of Asia Pacific Sodium Bicarbonate Market, by Source – Revenue and Forecast to 2028 (USD Million)
Table 57. Rest of Asia Pacific Sodium Bicarbonate Market, by Application – Revenue and Forecast to 2028 (USD Million)
Table 58. Middle East and Africa Sodium Bicarbonate Market, by Grade – Revenue and Forecast to 2028 (USD Million)
Table 59. Middle East and Africa Sodium Bicarbonate Market, by Source – Revenue and Forecast to 2028 (USD Million)
Table 60. Middle East and Africa Sodium Bicarbonate Market, by Application – Revenue and Forecast to 2028 (USD Million)
Table 61. South Africa Sodium Bicarbonate Market, by Grade – Revenue and Forecast to 2028 (USD Million)
Table 62. South Africa Sodium Bicarbonate Market, by Source – Revenue and Forecast to 2028 (USD Million)
Table 63. South Africa Sodium Bicarbonate Market, by Application – Revenue and Forecast to 2028 (USD Million)
Table 64. Saudi Arabia Sodium Bicarbonate Market, by Grade – Revenue and Forecast to 2028 (USD Million)
Table 65. Saudi Arabia Sodium Bicarbonate Market, by Source – Revenue and Forecast to 2028 (USD Million)
Table 66. Saudi Arabia Sodium Bicarbonate Market, by Application – Revenue and Forecast to 2028 (USD Million)
Table 67. UAE Sodium Bicarbonate Market, by Grade – Revenue and Forecast to 2028 (USD Million)
Table 68. UAE Sodium Bicarbonate Market, by Source – Revenue and Forecast to 2028 (USD Million)
Table 69. UAE Sodium Bicarbonate Market, by Application – Revenue and Forecast to 2028 (USD Million)
Table 70. Rest of Middle East and Africa Sodium Bicarbonate Market, by Grade – Revenue and Forecast to 2028 (USD Million)
Table 71. Rest of Middle East and Africa Sodium Bicarbonate Market, by Source – Revenue and Forecast to 2028 (USD Million)
Table 72. Rest of Middle East and Africa Sodium Bicarbonate Market, by Application – Revenue and Forecast to 2028 (USD Million)
Table 73. South and Central America Sodium Bicarbonate Market, by Grade – Revenue and Forecast to 2028 (USD Million)
Table 74. South and Central America Sodium Bicarbonate Market, by Source – Revenue and Forecast to 2028 (USD Million)
Table 75. South and Central America Sodium Bicarbonate Market, by Application – Revenue and Forecast to 2028 (USD Million)
Table 76. Brazil Sodium Bicarbonate Market, by Grade – Revenue and Forecast to 2028 (USD Million)
Table 77. Brazil Sodium Bicarbonate Market, by Source – Revenue and Forecast to 2028 (USD Million)
Table 78. Brazil Sodium Bicarbonate Market, by Application – Revenue and Forecast to 2028 (USD Million)
Table 79. Argentina Sodium Bicarbonate Market, by Grade – Revenue and Forecast to 2028 (USD Million)
Table 80. Argentina Sodium Bicarbonate Market, by Source – Revenue and Forecast to 2028 (USD Million)
Table 81. Argentina Sodium Bicarbonate Market, by Application – Revenue and Forecast to 2028 (USD Million)
Table 82. Rest of South and Central America Sodium Bicarbonate Market, by Grade – Revenue and Forecast to 2028 (USD Million)
Table 83. Rest of South and Central America Sodium Bicarbonate Market, by Source – Revenue and Forecast to 2028 (USD Million)
Table 84. Rest of South and Central America Sodium Bicarbonate Market, by Application – Revenue and Forecast to 2028 (USD Million)
LIST OF FIGURES
Figure 1. Sodium Bicarbonate Market Segmentation
Figure 2. Sodium Bicarbonate Market Segmentation – By Geography
Figure 3. Global Sodium Bicarbonate Market Overview
Figure 4. Global Sodium Bicarbonate Market, By Grade
Figure 5. Global Sodium Bicarbonate Market, by Geography
Figure 6. Global Sodium Bicarbonate Market, Industry Landscape
Figure 7. Porter’s Five Forces Analysis of Sodium Bicarbonate Market
Figure 8. Sodium Bicarbonate Market, Ecosystem
Figure 9. Expert Opinion
Figure 10. Sodium Bicarbonate Market Impact Analysis of Drivers and Restraints
Figure 11. Geographic Overview of Sodium Bicarbonate Market
Figure 12. Sodium Bicarbonate Market – Revenue and Forecast to 2028 (US$ Mn)
Figure 14. Sodium Bicarbonate Market Revenue Share, By Grade (2021 and 2028)
Figure 15. Food Grade: Sodium Bicarbonate Market – Revenue and Forecast To 2028 (US$ Million)
Figure 16. Food Grade: Sodium Bicarbonate Market – Volume and Forecast To 2028 (Tons)
Figure 17. Pharmaceutical Grade : Sodium Bicarbonate Market – Revenue and Forecast To 2028 (US$ Million)
Figure 18. Pharmaceutical Grade : Sodium Bicarbonate Market – Volume and Forecast To 2028 (Tons)
Figure 19. Feed Grade: Sodium Bicarbonate Market – Revenue and Forecast To 2028 (US$ Million)
Figure 20. Feed Grade: Sodium Bicarbonate Market – Revenue and Forecast To 2028 (Tons)
Figure 21. Technical Grade and Others: Sodium Bicarbonate Market – Revenue and Forecast To 2028 (US$ Million)
Figure 22. Technical Grade and Others: Sodium Bicarbonate Market – Volume and Forecast To 2028 (Tons)
Figure 23. Sodium Bicarbonate Market Revenue Share, By Form (2021 and 2028)
Figure 24. Powder: Sodium Bicarbonate Market – Revenue and Forecast To 2028 (US$ Million)
Figure 25. Liquid: Sodium Bicarbonate Market – Revenue and Forecast To 2028 (US$ Million)
Figure 26. Sodium Bicarbonate Market Revenue Share, By End User (2021 and 2028)
Figure 27. Food and Beverage: Sodium Bicarbonate Market – Revenue and Forecast To 2028 (US$ Million)
Figure 28. Pharmaceutical: Sodium Bicarbonate Market – Revenue and Forecast To 2028 (US$ Million)
Figure 29. Agriculture: Sodium Bicarbonate Market – Revenue and Forecast To 2028 (US$ Million)
Figure 30. Chemical: Sodium Bicarbonate Market – Revenue and Forecast To 2028 (US$ Million)
Figure 31. Cosmetic and Personal Care: Sodium Bicarbonate Market – Revenue and Forecast To 2028 (US$ Million)
Figure 32. Textile and Leather: Sodium Bicarbonate Market – Revenue and Forecast To 2028 (US$ Million)
Figure 33. Homecare: Sodium Bicarbonate Market – Revenue and Forecast To 2028 (US$ Million)
Figure 34. Others: Sodium Bicarbonate Market – Revenue and Forecast To 2028 (US$ Million)
Figure 29. Global Sodium Bicarbonate Market Revenue Share, by Region (2020 and 2028)
Figure 30. North America: Sodium Bicarbonate Market – Revenue and Forecast to 2028 (US$ Million)
Figure 31. North America: Sodium Bicarbonate Market Revenue Share, by Grade (2020 and 2028)
Figure 32. North America: Sodium Bicarbonate Market Revenue Share, by Grade (2020 and 2028)
Figure 33. North America: Sodium Bicarbonate Market Revenue Share, by Application (2020 and 2028)
Figure 34. North America: Sodium Bicarbonate Market Revenue Share, by Key Country (2020 and 2028)
Figure 35. US: Sodium Bicarbonate Market–Revenue and Forecast to 2028 (US$ Million)
Figure 36. Canada: Sodium Bicarbonate Market–Revenue and Forecast to 2028 (US$ Million)
Figure 37. Mexico: Sodium Bicarbonate Market–Revenue and Forecast to 2028 (US$ Million)
Figure 38. Europe: Sodium Bicarbonate Market – Revenue and Forecast to 2028 (USD Mn)
Figure 39. Europe: Sodium Bicarbonate Market Revenue Share, by Grade (2020 and 2028)
Figure 40. Europe: Sodium Bicarbonate Market Revenue Share, by Source (2020 and 2028)
Figure 41. Europe: Sodium Bicarbonate Market Revenue Share, by Application (2020 and 2028)
Figure 42. Europe: Sodium Bicarbonate Market Revenue Share, by Key Country (2020 and 2028)
Figure 43. Germany: Sodium Bicarbonate Market –Revenue and Forecast to 2028 (USD Mn)
Figure 44. France: Sodium Bicarbonate Market –Revenue and Forecast to 2028 (USD Mn)
Figure 45. UK: Sodium Bicarbonate Market –Revenue and Forecast to 2028 (USD Mn)
Figure 46. Italy: Sodium Bicarbonate Market –Revenue and Forecast to 2028 (USD Mn)
Figure 47. Russia: Sodium Bicarbonate Market –Revenue and Forecast to 2028 (USD Mn)
Figure 48. Rest of Europe: Sodium Bicarbonate Market –Revenue and Forecast to 2028 (USD Mn)
Figure 49. Asia-Pacific: Sodium Bicarbonate Market – Revenue and Forecast to 2028 (US$ Million)
Figure 50. Asia-Pacific: Sodium Bicarbonate Market Revenue Share, by Grade (2020 and 2028)
Figure 51. Asia-Pacific: Sodium Bicarbonate Market Revenue Share, by Source (2020 and 2028)
Figure 52. Asia-Pacific: Sodium Bicarbonate Market Revenue Share, by Application (2020 and 2028)
Figure 53. Asia- Pacific: Sodium Bicarbonate Market Revenue Share, by Key Country (2020 and 2028)
Figure 54. Australia: Sodium Bicarbonate Market –Revenue and Forecast to 2028 (US$ Million)
Figure 55. China: Sodium Bicarbonate Market –Revenue and Forecast to 2028 (US$ Million)
Figure 56. India: Sodium Bicarbonate Market –Revenue and Forecast to 2028 (US$ Million)
Figure 57. Japan: Sodium Bicarbonate Market –Revenue and Forecast to 2028 (US$ Million)
Figure 58. South Korea: Sodium Bicarbonate Market –Revenue and Forecast to 2028 (US$ Million)
Figure 59. Rest of Asia-Pacific: Sodium Bicarbonate Market –Revenue and Forecast to 2028 (US$ Million)
Figure 60. Middle East and Africa: Sodium Bicarbonate Market – Revenue and Forecast to 2028 (US$ Million)
Figure 61. Middle East and Africa: Sodium Bicarbonate Market Revenue Share, by Grade (2020 and 2028)
Figure 62. Middle East and Africa: Sodium Bicarbonate Market Revenue Share, by Source (2020 and 2028)
Figure 63. Middle East and Africa: Sodium Bicarbonate Market Revenue Share, by Application (2020 and 2028)
Figure 64. Middle East and Africa: Sodium Bicarbonate Market Revenue Share, by Key Country (2020 and 2028)
Figure 65. South Africa: Sodium Bicarbonate Market –Revenue and Forecast to 2028 (US$ Million)
Figure 66. Saudi Arabia: Sodium Bicarbonate Market –Revenue and Forecast to 2028 (US$ Million)
Figure 67. UAE: Sodium Bicarbonate Market –Revenue and Forecast to 2028 (US$ Million)
Figure 68. Rest of the Middle East and Africa: Sodium Bicarbonate Market –Revenue and Forecast to 2028 (US$ Million)
Figure 69. South and Central America: Sodium Bicarbonate Market – Revenue and Forecast to 2028 (US$ Million)
Figure 70. South and Central America: Sodium Bicarbonate Market Revenue Share, by Grade (2020 and 2028)
Figure 71. South and Central America: Sodium Bicarbonate Market Revenue Share, by Source (2020 and 2028)
Figure 72. Middle East and Africa: Sodium Bicarbonate Market Revenue Share, by Application (2020 and 2028)
Figure 73. South and Central America: Sodium Bicarbonate Market Revenue Share, by Key Country (2020 and 2028)
Figure 74. Brazil: Sodium Bicarbonate Market –Revenue and Forecast to 2028 (US$ Million)
Figure 75. Argentina: Sodium Bicarbonate Market –Revenue and Forecast to 2028 (US$ Million)
Figure 76. Rest of South and Central America: Sodium Bicarbonate Market –Revenue and Forecast to 2028 (US$ Million)
Figure 77. Impact of COVID-19 Pandemic on Sodium Bicarbonate Market in North America
Figure 78. Impact of COVID-19 Pandemic on Sodium Bicarbonate Market in Europe
Figure 79. Impact of COVID-19 Pandemic on Sodium Bicarbonate Market in Asia Pacific
Figure 80. Impact of COVID-19 Pandemic on Sodium Bicarbonate in Middle East and Africa
Figure 81. Impact of COVID-19 Pandemic on Sodium Bicarbonate in South America
The List of Companies - Sodium Bicarbonate Market
- Solvay S.A.
- Tosoh Corporation
- Church & Dwight, Inc.
- Si?ecam
- AGC Inc.
- Ciech S.A.
- Tata Chemicals
- Ciner Group
- Bashkhim Group
- Novacap Group
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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