GVR Report cover Chitosan Market Size, Share & Trends Report

Chitosan Market Size, Share & Trends Analysis Report By Application (Water Treatment, Medical & Pharmaceutical, Cosmetics, Food & Beverages, Agrochemicals, Others), By Region, And Segment Forecasts, 2024 - 2030

  • Report ID: 978-1-68038-798-8
  • Number of Report Pages: 150
  • Format: PDF, Horizon Databook

Chitosan Market Size & Trends

The global chitosan market size was estimated at USD 13.00 billion in 2023 and is expected to grow at a CAGR of 20.3% from 2024 to 2030. The growth is attributed to the increasing demand for naturally derived products and their high penetration in waste-water treatment, pharmaceutical, and cosmetics applications.

China Chitosan Market Size by Application, 2020 - 2030 (USD Billion)

Chitosan is expected to witness high demand from the food & beverage industry owing to favorable regulatory support by the developed economies and increasing awareness concerning the health benefits offered by the product. In addition, surging demand for the product as a food preservative and stabilizer has contributed to market growth. Furthermore, the rising utilization of the product as a clarifying agent in juices, as a thickening agent in beverages, and in packaging food products is anticipated to propel the demand.

Shrimp shells, crab shells, and squid pens are the most prominent raw materials used to produce chitin and chitosan. Chitosan is available in three varieties: alpha, beta, and gamma. Alpha and beta chitosan are the most widely available products manufactured using shrimp/crab shells and squid pens, respectively. The various types of chitosan differ in their chitin strand structure, which determines the characteristics and properties of the chitosan manufactured.

One of the market growth drivers, especially in the Asia-Pacific region, is the abundant availability of raw materials. It is one of the most abundant biopolymers and a significant waste product in the fishery industry. Chitosan is primarily obtained from various materials, including shrimp & crab shells and squid pens. Traditionally, these wastes were discarded or used directly as fertilizers. In addition, remarkable research on chitosan during the past few decades has revealed its significant importance in various applications, including wastewater treatment, pharmaceuticals, and food & beverage.

However, initiatives taken by manufacturers and researchers to improve purity to meet the required standards are expected to open new avenues for the existing and new market players during the forecasted period. In addition, rising demand for chitosan as an antibacterial, anti-cancerous, anti-inflammatory, and anti-fungal agent in pharmacological applications is expected to drive demand during the forecast period.

Application Insights

Biomedical dominated the market, with the highest revenue share of 31.0% in 2023. This is attributed to the increasing demand for bio-based ingredients in drug manufacturing. High investments in the pharmaceutical and medical sectors, coupled with demand for advanced healthcare products, are expected to impact market growth during the forecast period positively.

On the other hand, increasing demand for bio-derived personal care products is expected to be a key driver for market growth. Chitosan's bacteriostatic and fungistatic properties are expected to open new avenues for the product market in cosmetic applications. Increasing demand for chitosan used for skin and hair care cream manufacturing as a hydrating agent will likely drive market growth.

The rising application scope of chitosan for manufacturing dental care products, including mouthwash, toothpaste, and tooth gels, will likely increase demand for these products. The increasing application scope of chitosan for manufacturing color cosmetics such as lipsticks, eye shadows, and nail polishes is expected to propel demand during the forecast period. Furthermore, the rising demand for chitosan to treat various skin problems, including acne and scars, will likely drive the growth.

Regional Insights

Asia Pacific chitosan market dominated the market with the highest revenue share of nearly 44.5% in 2023. This is attributed to the Asia Pacific region having emerged as a dominant force in the market, driven by a combination of factors that enhance its position in the global landscape. As of 2023, the market in this region is experiencing significant growth, with projections indicating that it will continue to expand rapidly in the coming years.

Chitosan Market Share by Region, 2023 (%)

Asia Pacific is growing significantly during the forecast period. The growing demand for skin care products, especially among women and teenagers, is anticipated to positively impact the product market during the forecast period. The growing fashion industry and increasing demand for naturally derived hair and skin care products in the region are expected to propel demand throughout the forecasted period. Growing investments in municipal wastewater treatment and the increasing use of bio-derived chemicals in the field are expected to drive the demand during the forecast period.

The pharmaceutical industry in Canada is considered one of the most profitable sectors and has been the fourth fastest-growing healthcare industry after China, U.S., and Spain. As a result, a positive pharmaceutical industry outlook in Canada is likely to fuel the demand. The robust manufacturing base of global cosmetic producers such as Johnson & Johnson, Unilever, and Procter & Gamble in the U.S. is expected to promote demand for chitosan in formulating personal care products.

Key Chitosan Company Insights

Some of the key players operating in Panvo Organics Pvt. Ltd, Qingdao Yunzhou Biochemistry Co.,Advanced Biopolymers AS3, Meron Biopolymers:

  • Qingdao Yunzhou Biochemistry Co., Ltd. is a biotechnology company based in Qingdao, Shandong, China. The company specializes in producing and supplying chitosan-based products, which are derived from chitin, a natural polymer found in crustaceans' shells.

  • Panvo Organics Pvt. Ltd. is a prominent manufacturer based in Chennai, India, specializing in Active Pharmaceutical Ingredients (APIs), Nutraceutical Ingredients, and Specialty Chemicals. Established in 2006, the company has rapidly become a key player in producing Glucosamine and Chitosan, among other products.

Key companies are adopting several organic and inorganic growth strategies to maintain and expand their market share, such as capacity expansion, mergers & acquisitions, and joint ventures.

Key Chitosan Companies:

The following are the leading companies in the chitosan market. These companies collectively hold the largest market share and dictate industry trends.

  • Qingdao Yunzhou Biochemistry Co.
  • Panvo Organics Pvt. Ltd.
  • Advanced Biopolymers AS
  • Meron Biopolymers
  • Biophrame Technologies
  • United Chitotechnologies Inc.
  • Heppe Medical Chitosan GmbH
  • KitoZyme S.A.
  • Foodchem International Corporation
  • Chitosanlab
  • FMC Corporation
  • Golden-Shell Pharmaceutical Co. Ltd.
  • Primex EHF
  • Nano3Bio
  • Koyo World (Hong Kong) Co. Ltd.
  • Dainichiseika Color & Chemicals Mfg. Co. Ltd.
  • KYTOSAN LLC

View a comprehensive list of companies in the Chitosan Market.

Recent Development

  • In September 2023, Heppe Medical Chitosan (HMC) introduced the first-ever chitosan molecular weight standards at EUCHIS. This innovation enables researchers and customers to utilize dependable chitosan for molecular weight analysis without comparing them to other materials.

  • In November 2022, Chitogen Inc., a U.S.-based medical manufacturing company, signed a letter of intent with Tru Shrimp to purchase commercial quantities of chitosan produced from the ground-up exoskeleton of its farm-raised shrimp. This move was made to build a large-scale shrimp farm in South Dakota, U.S.

  • In September 2021, KitoZyme launched a new version of its vegan chitosan at Vitafoods. KitoZyme has developed a patented process for producing chitin and chitosan from fungi on an industrial scale. This breakthrough innovation has significantly impacted these biopolymers' perception and potential applications.

Chitosan Market Report Scope

Report Attribute

Details

Market size value in 2024

USD 15.55 billion

Revenue forecast in 2030

USD 47.06 billion

Growth rate

CAGR of 20.3% from 2024 to 2030

Actual data

2018 - 2023

Forecast period

2024 - 2030

Quantitative Units

Volume in tons, revenue in USD million/billion, and CAGR from 2024 to 2030

Report coverage

Volume forecast, revenue forecast, competitive landscape, growth factors, and trends

Segments covered

Application, region

Regional scope

North America; Europe; Asia Pacific; Central & South America; Middle East & Africa

Country scope

U.S.; Canada; Mexico; Germany; UK; France; Italy; Spain; China; India; Japan; South Korea; Vietnam; Brazil; Saudi Arbia; South Africa

Key companies profiled

Qingdao Yunzhou Biochemistry Co.; Panvo Organics Pvt Ltd; Advanced Biopolymers AS; Meron Biopolymers; Biophrame Technologies; United Chitotechnologies Inc.; Heppe Medical Chitosan GmbH; KitoZyme S.A; Foodchem International Corporation; Chitosanlab; FMC Corporation; Golden-Shell Pharmaceutical Co. Ltd.; Primex EHF; Nano3Bio; Koyo World (Hong Kong) Co. Ltd.; Dainichiseika Color & Chemicals Mfg. Co. Ltd.; KYTOSAN LLC.

Customization scope

Free report customization (equivalent up to 8 analysts working days) with purchase. Addition or alteration to country, regional & segment scope.

Pricing and purchase options

Avail customized purchase options to meet your exact research needs. Explore purchase options

Global Chitosan Market Report Segmentation

This report forecasts volume and revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the global chitosan market report based on application, and region:

Global Chitosan Market Report Segmentation

  • Application Outlook (Volume, Tons; Revenue, USD Million, 2018 - 2030)

    • Water Treatment

    • Pharmaceutical

    • Biomedical

    • Cosmetics

    • Food & Beverage

    • Others

  • Regional Outlook (Volume, Tons; Revenue, USD Million, 2018 - 2030)

    • North America

      • U.S.

      • Canada

      • Mexico

    • Europe

      • Germany

      • France

      • UK

      • Italy

      • Spain

    • Asia Pacific

      • China

      • Japan

      • South Korea

      • India

      • Singapore

    • Central & South America

      • Brazil

      • Argentina

    • Middle East & Africa

      • Saudi Arabia

      • South Africa

Frequently Asked Questions About This Report

Table of Contents

Chapter 1. Methodology and Scope
                    1.1. Market Segmentation & Scope
                    1.2. Market Definition
                    1.3. Information Procurement
                        1.3.1. Purchased Database
                        1.3.2. GVR’s Internal Database
                        1.3.3. Secondary Sources & Third-Party Perspectives
                        1.3.4. Primary Research
                    1.4. Information Analysis
                        1.4.1. Data Analysis Models
                    1.5. Market Formulation & Data Visualization
                    1.6. Data Validation & Publishing
Chapter 2. Executive Summary
                    2.1. Market Insights
                    2.2. Segmental Outlook
                    2.3. Competitive Outlook
Chapter 3. Chitosan Market Variables, Trends & Scope
                    3.1. Global Chitosan Market Outlook
                    3.2. Industry Value Chain Analysis
                        3.2.1. Raw Material Outlook
                        3.2.2. Manufacturing & Technology Overview
                        3.2.3. Sales Channel Analysis
                    3.3. Price Trend Analysis
                    3.4. Regulatory Framework
                    3.5. Market Dynamics
                        3.5.1. Market Driver Analysis
                        3.5.2. Market Restraint Analysis
                        3.5.3. Industry Challenges
                    3.6. Porter’s Five Forces Analysis
                        3.6.1. Supplier Power
                        3.6.2. Buyer Power
                        3.6.3. Substitution Threat
                        3.6.4. Threat from New Entrant
                        3.6.5. Competitive Rivalry
                    3.7. Macroeconomic Analysis
                        3.7.1. Political Landscape
                        3.7.2. Economic Landscape
                        3.7.3. Social Landscape
                        3.7.4. Technological Landscape
                        3.7.5. Environmental Landscape
                        3.7.6. Legal Landscape
Chapter 4. Chitosan Market: Application Outlook Estimates & Forecasts
                    4.1. Chitosan Market: Application Movement Analysis, 2023 & 2030
                    4.2. Water Treatment
                        4.2.1. Market estimates and forecast, 2018 - 2030 (Tons) (USD Million)
                    4.3. Pharmaceutical
                        4.3.1. Chitosan Market estimates and forecast, by Pharmaceutical, 2018 - 2030 (Tons) (USD Million)
                    4.4. Biomedical
                        4.4.1. Chitosan Market estimates and forecast, by Biomedical, 2018 - 2030 (Tons) (USD Million)
                    4.5. Cosmetics
                        4.5.1. Chitosan Market estimates and forecast, by Cosmetics, 2018 - 2030 (Tons) (USD Million)
                    4.6. Food & Beverage
                        4.6.1. Chitosan Market estimates and forecast, by Food & Beverage 2018 - 2030 (Tons) (USD Million)
                    4.7. Others
                        4.7.1. Chitosan Market estimates and forecast, by Others, 2018 - 2030 (Tons) (USD Million)
Chapter 5. Chitosan Market Regional Outlook Estimates & Forecasts
                    5.1. Regional Snapshot
                    5.2. Chitosan Market: Regional Movement Analysis, 2023 & 2030
                    5.3. North America
                        5.3.1. North America Market estimates and forecast, 2018 - 2030 (Tons) (USD Million)
                        5.3.2. U.S.
                            5.3.2.1. U.S. Market estimates and forecast, 2018 - 2030 (Tons) (USD Million)
                        5.3.3. Canada
                            5.3.3.1. Canada Market estimates and forecast, 2018 - 2030 (Tons) (USD Million)
                        5.3.4. Mexico
                            5.3.4.1. Mexico Market estimates and forecast, 2018 - 2030 (Tons) (USD Million)
                    5.4. Europe
                        5.4.1. Europe Market estimates and forecast, 2018 - 2030 (Tons) (USD Million)
                        5.4.2. Germany
                            5.4.2.1. Germany Market estimates and forecast, 2018 - 2030 (Tons) (USD Million)
                        5.4.3. France
                            5.4.3.1. France Market estimates and forecast, 2018 - 2030 (Tons) (USD Million)
                        5.4.4. UK
                            5.4.4.1. UK Market estimates and forecast, 2018 - 2030 (Tons) (USD Million)
                        5.4.5. Italy
                            5.4.5.1. Italy Market estimates and forecast, 2018 - 2030 (Tons) (USD Million)
                        5.4.6. Spain
                            5.4.6.1. Spain Market estimates and forecast, 2018 - 2030 (Tons) (USD Million)
                    5.5. Asia Pacific
                        5.5.1. Asia Pacific Market estimates and forecast, 2018 - 2030 (Tons) (USD Million)
                        5.5.2. China
                            5.5.2.1. China Market estimates and forecast, 2018 - 2030 (Tons) (USD Million)
                        5.5.3. India
                            5.5.3.1. India Market estimates and forecast, 2018 - 2030 (Tons) (USD Million)
                        5.5.4. South Korea
                            5.5.4.1. Market estimates and forecast, 2018 - 2030 (Tons) (USD Million)
                        5.5.5. Japan
                            5.5.5.1. Japan Market estimates and forecast, 2018 - 2030 (Tons) (USD Million)
                    5.6. Central & South America
                        5.6.1. Central & South America Market estimates and forecast, 2018 - 2030 (Tons) (USD Million)
                        5.6.2. Brazil
                            5.6.2.1. Brazil Market estimates and forecast, 2018 - 2030 (Tons) (USD Million)
                    5.7. Middle East & Africa
                        5.7.1. Middle East & Africa Market estimates and forecast, 2018 - 2030 (Tons) (USD Million)
                        5.7.2. Saudi Arabia
                            5.7.2.1. Saudi Arabia Market estimates and forecast, 2018 - 2030 (Tons) (USD Million)
                        5.7.3. South Africa
                            5.7.3.1. South Africa Market estimates and forecast, 2018 - 2030 (Tons) (USD Million)
Chapter 6. Competitive Landscape
                    6.1. Recent Developments & Impact Analysis, By Key Market Participants
                    6.2. Company Categorization
                    6.3. Heat Map Analysis
                    6.4. Market Strategies
                    6.5. Company Profiles/Listing
                        6.5.1. Qingdao Yunzhou Biochemistry Co.
                            6.5.1.1. Company Overview
                            6.5.1.2. Financial Performance
                            6.5.1.3. Product Benchmarking
                        6.5.2. Panvo Organics Pvt. Ltd.
                            6.5.2.1. Company Overview
                            6.5.2.2. Financial Performance
                            6.5.2.3. Product Benchmarking
                        6.5.3. Advanced Biopolymers AS
                            6.5.3.1. Company Overview
                            6.5.3.2. Financial Performance
                            6.5.3.3. Product Benchmarking
                        6.5.4. Meron
                            6.5.4.1. Company Overview
                            6.5.4.2. Financial Performance
                            6.5.4.3. Product Benchmarking
                        6.5.5. Heppe Medical Chitosan GmbH
                            6.5.5.1. Company Overview
                            6.5.5.2. Financial Performance
                            6.5.5.3. Product Benchmarking
                        6.5.6. KitoZyme S.A
                            6.5.6.1. Company Overview
                            6.5.6.2. Financial Performance
                            6.5.6.3. Product Benchmarking
                        6.5.7. Kraeber & Co. GmbH
                            6.5.7.1. Company Overview
                            6.5.7.2. Financial Performance
                            6.5.7.3. Product Benchmarking
                        6.5.8. Golden-Shell Pharmaceutical
                            6.5.8.1. Company Overview
                            6.5.8.2. Financial Performance
                            6.5.8.3. Product Benchmarking
                        6.5.9. PRIMEX EHF
                            6.5.9.1. Company Overview
                            6.5.9.2. Financial Performance
                            6.5.9.3. Product Benchmarking
                        6.5.10. Dainichiseika Color & Chemicals Mfg. Co., Ltd.
                            6.5.10.1. Company Overview
                            6.5.10.2. Financial Performance
                            6.5.10.3. Product Benchmarking
                        6.5.11. G.T.C. Bio Corporation
                            6.5.11.1. Company Overview
                            6.5.11.2. Financial Performance
                            6.5.11.3. Product Benchmarking
                        6.5.12. Marshall Marine Products
                            6.5.12.1. Company Overview
                            6.5.12.2. Financial Performance
                            6.5.12.3. Product Benchmarking
                        6.5.13. SFly
                            6.5.13.1. Company Overview
                            6.5.13.2. Financial Performance
                            6.5.13.3. Product Benchmarking
                        6.5.14. Asiamerica Group, Inc.
                            6.5.14.1. Company Overview
                            6.5.14.2. Financial Performance
                            6.5.14.3. Product Benchmarking


List of Tables

Table 1 List of Potential End Users
Table 2 Regulatory Framework, by regions
Table 3 List of Raw Material Suppliers
Table 4 U.S. Macroeconomic Outlay
Table 5 Canada Macroeconomic Outlay
Table 6 Mexico Macroeconomic Outlay
Table 7 Germany Macroeconomic Outlay
Table 8 UK Macroeconomic Outlay
Table 9 France Macroeconomic Outlay
Table 10 Italy Macroeconomic Outlay
Table 11 Spain Macroeconomic Outlay
Table 12 China Macroeconomic Outlay
Table 13 India Macroeconomic Outlay
Table 14 Japan Macroeconomic Outlay
Table 15 South Korea Macroeconomic Outlay
Table 16 Brazil Macroeconomic Outlay
Table 17 Argentina Macroeconomic Outlay
Table 18 Saudi Arabia Macroeconomic Outlay
Table 19 South Africa Macroeconomic Outlay
Table 20 Participant's Overview
Table 21 Financial Performance
Table 22 Product Benchmarking
Table 23 Company Heat Map Analysis
Table 24 Key Strategy Mapping


List of Figures

Fig. 1 Market segmentation
Fig. 2 Information procurement
Fig. 3 Data Analysis Models
Fig. 4 Market Formulation and Validation
Fig. 5 Market snapshot
Fig. 6 Segmental outlook- application
Fig. 7 Competitive outlook
Fig. 8 Chitosan market, 2018 - 2030 (USD Million) (Tons)
Fig. 9 Value chain analysis
Fig. 10 Market dynamics
Fig. 11 Porter’s Analysis
Fig. 12 PESTEL Analysis
Fig. 13 Chitosan market, by application: Key takeaways
Fig. 14 Chitosan market, by application: Market share, 2023 & 2030
Fig. 15 Chitosan market, by region: Key takeaways
Fig. 16 Chitosan market, by region: Market share, 2023 & 2030

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Market Segmentation

  • Chitosan Application Outlook (Volume, Tons; Revenue, USD Million, 2018 - 2030)
    • Water Treatment
    • Pharmaceutical
    • Biomedical
    • Cosmetics
    • Food & Beverage
    • Others
  • Chitosan Regional Outlook (Volume, Tons; Revenue, USD Million, 2018 - 2030)
    • North America
      • North America Chitosan Market, By Application
        • Water Treatment
        • Pharmaceutical
        • Biomedical
        • Cosmetics
        • Food & Beverage
        • Others
      • U.S.
        • U.S. Chitosan Market, By Application
          • Water Treatment
          • Pharmaceutical
          • Biomedical
          • Cosmetics
          • Food & Beverage
          • Others
      • Canada
        • Canada Chitosan Market, By Application
          • Water Treatment
          • Pharmaceutical
          • Biomedical
          • Cosmetics
          • Food & Beverage
          • Others
      • Mexico
        • Mexico Chitosan Market, By Application
          • Water Treatment
          • Pharmaceutical
          • Biomedical
          • Cosmetics
          • Food & Beverage
          • Others
    • Europe
      • Europe Chitosan Market, By Application
        • Water Treatment
        • Pharmaceutical
        • Biomedical
        • Cosmetics
        • Food & Beverage
        • Others
      • Germany
        • Germany Chitosan Market, By Application
          • Water Treatment
          • Pharmaceutical
          • Biomedical
          • Cosmetics
          • Food & Beverage
          • Others
      • France
        • France Chitosan Market, By Application
          • Water Treatment
          • Pharmaceutical
          • Biomedical
          • Cosmetics
          • Food & Beverage
          • Others
      • U.K.
        • U.K. Chitosan Market, By Application
          • Water Treatment
          • Pharmaceutical
          • Biomedical
          • Cosmetics
          • Food & Beverage
          • Others
      • Italy
        • Italy Chitosan Market, By Application
          • Water Treatment
          • Pharmaceutical
          • Biomedical
          • Cosmetics
          • Food & Beverage
          • Others
      • Spain
        • Spain Chitosan Market, By Application
          • Water Treatment
          • Pharmaceutical
          • Biomedical
          • Cosmetics
          • Food & Beverage
          • Others
    • Asia Pacific
      • Asia Pacific Chitosan Market, By Application
        • Water Treatment
        • Pharmaceutical
        • Biomedical
        • Cosmetics
        • Food & Beverage
        • Others
      • China
        • China Chitosan Market, By Application
          • Water Treatment
          • Pharmaceutical
          • Biomedical
          • Cosmetics
          • Food & Beverage
          • Others
      • South Korea
        • South Korea Chitosan Market, By Application
          • Water Treatment
          • Pharmaceutical
          • Biomedical
          • Cosmetics
          • Food & Beverage
          • Others
      • Japan
        • Japan Chitosan Market, By Application
          • Water Treatment
          • Pharmaceutical
          • Biomedical
          • Cosmetics
          • Food & Beverage
          • Others
      • India
        • India Chitosan Market, By Application
          • Water Treatment
          • Pharmaceutical
          • Biomedical
          • Cosmetics
          • Food & Beverage
          • Others
    • Central & South America
      • Central & South America Chitosan Market, By Application
        • Water Treatment
        • Pharmaceutical
        • Biomedical
        • Cosmetics
        • Food & Beverage
        • Others
      • Brazil
        • Brazil Chitosan Market, By Application
          • Water Treatment
          • Pharmaceutical
          • Biomedical
          • Cosmetics
          • Food & Beverage
          • Others
    • Middle East & Africa
      • Middle East & Africa Chitosan Market, By Application
        • Water Treatment
        • Pharmaceutical
        • Biomedical
        • Cosmetics
        • Food & Beverage
        • Others
      • Saudi Arabia
        • Saudi Arabia Chitosan Market, By Application
          • Water Treatment
          • Pharmaceutical
          • Biomedical
          • Cosmetics
          • Food & Beverage
          • Others
      • South Africa
        • South Africa Chitosan Market, By Application
          • Water Treatment
          • Pharmaceutical
          • Biomedical
          • Cosmetics
          • Food & Beverage
          • Others

Report content

Qualitative Analysis

  • Industry overview
  • Industry trends
  • Market drivers and restraints
  • Market size
  • Growth prospects
  • Porter’s analysis
  • PESTEL analysis
  • Key market opportunities prioritized
  • Competitive landscape
    • Company overview
    • Financial performance
    • Product benchmarking
    • Latest strategic developments

Quantitative Analysis

  • Market size, estimates, and forecast from 2018 to 2030
  • Market estimates and forecast for product segments up to 2030
  • Regional market size and forecast for product segments up to 2030
  • Market estimates and forecast for application segments up to 2030
  • Regional market size and forecast for application segments up to 2030
  • Company financial performance
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Research Methodology

Grand View Research employs a comprehensive and iterative research methodology focused on minimizing deviance in order to provide the most accurate estimates and forecast possible. The company utilizes a combination of bottom-up and top-down approaches for segmenting and estimating quantitative aspects of the market. In Addition, a recurring theme prevalent across all our research reports is data triangulation that looks market from three different perspectives. Critical elements of the methodology employed for all our studies include:

Preliminary data mining

Raw market data is obtained and collated on a broad front. Data is continuously filtered to ensure that only validated and authenticated sources are considered. In addition, data is also mined from a host of reports in our repository, as well as a number of reputed paid databases. For a comprehensive understanding of the market, it is essential to understand the complete value chain, and in order to facilitate this; we collect data from raw material suppliers, distributors as well as buyers.

Technical issues and trends are obtained from surveys, technical symposia, and trade journals. Technical data is also gathered from an intellectual property perspective, focusing on white space and freedom of movement. Industry dynamics with respect to drivers, restraints, pricing trends are also gathered. As a result, the material developed contains a wide range of original data that is then further cross-validated and authenticated with published sources.

Statistical model

Our market estimates and forecasts are derived through simulation models. A unique model is created customized for each study. Gathered information for market dynamics, technology landscape, application development, and pricing trends are fed into the model and analyzed simultaneously. These factors are studied on a comparative basis, and their impact over the forecast period is quantified with the help of correlation, regression, and time series analysis. Market forecasting is performed via a combination of economic tools, technological analysis, industry experience, and domain expertise.

Econometric models are generally used for short-term forecasting, while technological market models are used for long-term forecasting. These are based on an amalgamation of the technology landscape, regulatory frameworks, economic outlook, and business principles. A bottom-up approach to market estimation is preferred, with key regional markets analyzed as separate entities and integration of data to obtain global estimates. This is critical for a deep understanding of the industry as well as ensuring minimal errors. Some of the parameters considered for forecasting include:

    • Market drivers and restraints, along with their current and expected impact
    • Raw material scenario and supply v/s price trends
    • Regulatory scenario and expected developments
    • Current capacity and expected capacity additions up to 2030

We assign weights to these parameters and quantify their market impact using weighted average analysis, to derive an expected market growth rate.

Primary validation

This is the final step in estimating and forecasting for our reports. Exhaustive primary interviews are conducted, face to face as well as over the phone to validate our findings and assumptions used to obtain them. Interviewees are approached from leading companies across the value chain including suppliers, technology providers, domain experts, and buyers so as to ensure a holistic and unbiased picture of the market. These interviews are conducted across the globe, with language barriers overcome with the aid of local staff and interpreters. Primary interviews not only help in data validation but also provide critical insights into the market, current business scenario, and future expectations and enhance the quality of our reports. All our estimates and forecast are verified through exhaustive primary research with Key Industry Participants (KIPs) which typically include:

    • Market-leading companies
    • Raw material suppliers
    • Product distributors
    • Buyers

The key objectives of primary research are as follows:

    • To validate our data in terms of accuracy and acceptability
    • To gain an insight in to the current market and future expectations

Data Collection Matrix

Perspective

Primary research

Secondary research

Supply-side
  • Manufacturers
  • Technology distributors and wholesalers
  • Company reports and publications
  • Government publications
  • Independent investigations
  • Economic and demographic data

Demand-side
  • End-user surveys
  • Consumer surveys
  • Mystery shopping
  • Case studies
  • Reference customers


Industry Analysis Matrix

Qualitative analysis

Quantitative analysis
  • Industry landscape and trends
  • Market dynamics and key issues
  • Technology landscape
  • Market opportunities
  • Porter’s analysis and PESTEL analysis
  • Competitive landscape and component benchmarking
  • Policy and regulatory scenario
  • Market revenue estimates and forecast up to 2030
  • Market revenue estimates and forecasts up to 2030, by technology
  • Market revenue estimates and forecasts up to 2030, by application
  • Market revenue estimates and forecasts up to 2030, by type
  • Market revenue estimates and forecasts up to 2030, by component
  • Regional market revenue forecasts, by technology
  • Regional market revenue forecasts, by application
  • Regional market revenue forecasts, by type
  • Regional market revenue forecasts, by component

 

What questions do you have? Get quick response from our industry experts. Request a Free Consultation
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