The Lemongrass Essential Oil Market is expected to register a CAGR of 6% from 2025 to 2031, with a market size expanding from US$ XX million in 2024 to US$ XX Million by 2031.
The report is segmented by product type (food grade and therapeutic grade). The report further presents analysis based on application (pharmaceutical, cosmetic and personal care, food and beverages and others). The global analysis is further broken-down at regional level and major countries. The market size and forecast at global, regional, and country levels for all the key market segments are covered under the scope. The report offers the value in USD for the above analysis and segments. The report provides key statistics on the market status of the key market players and offers market trends and opportunities.
Purpose of the ReportThe report Lemongrass Essential Oil 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.
Lemongrass Essential Oil Market Segmentation
Product Type- Food Grade and Therapeutic Grade
- Pharmaceutical
- Cosmetic and Personal Care
- Food and Beverages and Others
Strategic Insights
Lemongrass Essential Oil Market Growth Drivers- Consumer Shift Toward Natural and Organic Products: The rising consumer inclination towards natural and organic products is a significant factor propelling the growth of lemongrass essential oil. With the growing awareness among the people on the effects of synthetic chemicals in beauty products and home use products, such people are aggressively seeking their natural counterparts. As such, lemongrass essential oil is broadly considered safe and useful for many applications, including but not limited to skincare, haircare, and cleaning products. This is even more intensified to all health-conscious individuals and those searching for environmentally friendly options.
- Booming Aromatherapy: The aromatherapy market has also been booming, raising the demand for the lemongrass essential oil. Due to its calming and uplifting effect, lemongrass essential oil is used in diffusers, massage oils, and therapeutic oil blends. As aromatherapy for relaxation and wellness is being adopted on a large scale, the consumption of essential oils, lemongrass included, is on the rise. This growth is also fostered by the growing acceptance of the practice of alternative health and the introduction of aromatherapy into general healthcare practices.
- Rising Use of Lemongrass Essential Oil in the Food and Beverage Industry: Due to its flavoring and preservative effects, lemongrass essential oil is gaining traction in the food and restaurant industry. There is an added citrus flavor in numerous culinary dishes, drinks, and even herbal teas to enhance their appeal. The increasing tendency to include natural flavors and other ingredients in food products has enhanced the consumption of lemongrass oil as a natural flavoring system. Furthermore, due to the anti-bacterial properties of lemongrass, a broader use in foodstuffs as a preservative is advocated, hence increasing the market scope of the product.
- Advancements in Extraction Technologies:The changes in extraction technologies have enhanced the productivity and quality of lemongrass essential oil. There are processes such as cold pressing and steam distillation that are being perfected to enhance the quantity of the oil while keeping its medicinal values intact. New trends in extraction techniques improved the finished product’s quality and lowered production costs. Manufacturers of high-quality lemongrass essential oil are encouraged to embrace these new methods. It is most likely that the cost and amount of such oil will be less and more available, respectively.
- Sustainability Drives Ethical Sourcing and Eco-Friendly Production of Lemongrass Essential Oil: Sustainability is another vital consideration for manufacturing essential oils, including lemon grass. Consumers and businesses focus more on ethically sourced ingredients with minimal environmental damage. This has forced manufacturers to implement eco-friendly measures such as organic farming and controlled harvesting. Firms that incorporate sustainable practices within their sourcing and production will likely have differentiation advantages over competition, especially from green consumers.
- E-Commerce and Digital Marketing: E-commerce has also affected how essential oils, including lemongrass oil, are sold and marketed. With online shopping, customers can easily click on a product of interest and get all the information, including the health benefits and other uses. In addition, other forms of digital marketing, such as social media campaigns or advertisements with the help of social media, are also used in targeting the audience. The Market of lemongrass essential oil benefits from online selling, especially to the young generation who do not fancy going to physical shops.
- Growth Opportunities in Emerging Markets: The developing regions especially Asia-Pacific, Latin America, and Africa offer high growth prospects for the market of lemongrass essential oil. In these regions, rapid urbanization, higher disposable incomes, and increased awareness about natural products, among others, are creating opportunities. This necessitates placing distribution networks and modifying the products to suit the local tastes of the emerging markets.
- Product Diversification and Value Addition: The manufacturers are also seeing a more significant opportunity to diversify, add value, and include the use of the lemongrass essential oil in the manufactured products. This includes developing formulations for the skin, hair, and well-being products that contain essential oil. Developing products such as ready-to-use lemongrass candles, ready-to-use lemongrass soap, household cleaners, and other products that contain lemongrass can target the market for consumers who want natural products. This helps ensure that the company does not rely on a single segment but expands its operations vertically and horizontally, thus increasing revenues.
- Expanding Research and Application of Lemongrass Essential Oil in Health and Wellness: The apparent health benefits of lemongrass essential oil point to areas where research and production can be expanded. With the increasing demand for health and well-being, and more so natural treatments, lemongrass oil has some prospects considering its applications in health interventions such as alleviating stress, easing pain, and skin care. It is possible to generate and prove products based on the therapeutic effects of lemongrass oil and tissue oil-based treatments.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Lemongrass Essential Oil 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 Lemongrass Essential Oil Market can, therefore, help spearhead the trail of decoding and understanding the industry scenario and growth prospects. Although there can be a few valid concerns, the overall benefits of this report tend to outweigh the disadvantages.
REGIONAL FRAMEWORK
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Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
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to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
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to country scope.
Frequently Asked Questions
Advancements in extraction technology is expected to be the key market trends
The report can be delivered in PDF/Word format, we can also share excel data sheet based on request.
On the basis of geography, the lemongrass essential oil market is classified into North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America
doTerra; Falcon; Go Native New Zealand; Plant Therapy Essential Oils; Rocky Mountain Oils are some of the key players operating in the lemongrass essential oil market
Rising demand for natural and organic products is driving the market growth
The Lemongrass Essential Oil Market is estimated to witness a CAGR of 6% from 2023 to 2031
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Lemongrass Essential Oil Market - By Product Type
1.3.2 Lemongrass Essential Oil Market - By Application
1.3.3 Lemongrass Essential Oil Market - By Region
1.3.3.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. LEMONGRASS ESSENTIAL OIL 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. LEMONGRASS ESSENTIAL OIL 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. LEMONGRASS ESSENTIAL OIL MARKET - GLOBAL MARKET ANALYSIS
6.1. LEMONGRASS ESSENTIAL OIL - GLOBAL MARKET OVERVIEW
6.2. LEMONGRASS ESSENTIAL OIL - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. LEMONGRASS ESSENTIAL OIL MARKET - REVENUE AND FORECASTS TO 2028 - PRODUCT TYPE
7.1. OVERVIEW
7.2. PRODUCT TYPE MARKET FORECASTS AND ANALYSIS
7.3. FOOD GRADE
7.3.1. Overview
7.3.2. Food Grade Market Forecast and Analysis
7.4. THERAPEUTIC GRADE
7.4.1. Overview
7.4.2. Therapeutic Grade Market Forecast and Analysis
8. LEMONGRASS ESSENTIAL OIL MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
8.1. OVERVIEW
8.2. APPLICATION MARKET FORECASTS AND ANALYSIS
8.3. PHARMACEUTICAL
8.3.1. Overview
8.3.2. Pharmaceutical Market Forecast and Analysis
8.4. COSMETIC AND PERSONAL CARE
8.4.1. Overview
8.4.2. Cosmetic and Personal Care Market Forecast and Analysis
8.5. FOOD AND BEVERAGES
8.5.1. Overview
8.5.2. Food and Beverages Market Forecast and Analysis
9. LEMONGRASS ESSENTIAL OIL MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
9.1. NORTH AMERICA
9.1.1 North America Lemongrass Essential Oil Market Overview
9.1.2 North America Lemongrass Essential Oil Market Forecasts and Analysis
9.1.3 North America Lemongrass Essential Oil Market Forecasts and Analysis - By Product Type
9.1.4 North America Lemongrass Essential Oil Market Forecasts and Analysis - By Application
9.1.5 North America Lemongrass Essential Oil Market Forecasts and Analysis - By Countries
9.1.5.1 United States Lemongrass Essential Oil Market
9.1.5.1.1 United States Lemongrass Essential Oil Market by Product Type
9.1.5.1.2 United States Lemongrass Essential Oil Market by Application
9.1.5.2 Canada Lemongrass Essential Oil Market
9.1.5.2.1 Canada Lemongrass Essential Oil Market by Product Type
9.1.5.2.2 Canada Lemongrass Essential Oil Market by Application
9.1.5.3 Mexico Lemongrass Essential Oil Market
9.1.5.3.1 Mexico Lemongrass Essential Oil Market by Product Type
9.1.5.3.2 Mexico Lemongrass Essential Oil Market by Application
9.2. EUROPE
9.2.1 Europe Lemongrass Essential Oil Market Overview
9.2.2 Europe Lemongrass Essential Oil Market Forecasts and Analysis
9.2.3 Europe Lemongrass Essential Oil Market Forecasts and Analysis - By Product Type
9.2.4 Europe Lemongrass Essential Oil Market Forecasts and Analysis - By Application
9.2.5 Europe Lemongrass Essential Oil Market Forecasts and Analysis - By Countries
9.2.5.1 Germany Lemongrass Essential Oil Market
9.2.5.1.1 Germany Lemongrass Essential Oil Market by Product Type
9.2.5.1.2 Germany Lemongrass Essential Oil Market by Application
9.2.5.2 France Lemongrass Essential Oil Market
9.2.5.2.1 France Lemongrass Essential Oil Market by Product Type
9.2.5.2.2 France Lemongrass Essential Oil Market by Application
9.2.5.3 Italy Lemongrass Essential Oil Market
9.2.5.3.1 Italy Lemongrass Essential Oil Market by Product Type
9.2.5.3.2 Italy Lemongrass Essential Oil Market by Application
9.2.5.4 United Kingdom Lemongrass Essential Oil Market
9.2.5.4.1 United Kingdom Lemongrass Essential Oil Market by Product Type
9.2.5.4.2 United Kingdom Lemongrass Essential Oil Market by Application
9.2.5.5 Russia Lemongrass Essential Oil Market
9.2.5.5.1 Russia Lemongrass Essential Oil Market by Product Type
9.2.5.5.2 Russia Lemongrass Essential Oil Market by Application
9.2.5.6 Rest of Europe Lemongrass Essential Oil Market
9.2.5.6.1 Rest of Europe Lemongrass Essential Oil Market by Product Type
9.2.5.6.2 Rest of Europe Lemongrass Essential Oil Market by Application
9.3. ASIA-PACIFIC
9.3.1 Asia-Pacific Lemongrass Essential Oil Market Overview
9.3.2 Asia-Pacific Lemongrass Essential Oil Market Forecasts and Analysis
9.3.3 Asia-Pacific Lemongrass Essential Oil Market Forecasts and Analysis - By Product Type
9.3.4 Asia-Pacific Lemongrass Essential Oil Market Forecasts and Analysis - By Application
9.3.5 Asia-Pacific Lemongrass Essential Oil Market Forecasts and Analysis - By Countries
9.3.5.1 Australia Lemongrass Essential Oil Market
9.3.5.1.1 Australia Lemongrass Essential Oil Market by Product Type
9.3.5.1.2 Australia Lemongrass Essential Oil Market by Application
9.3.5.2 China Lemongrass Essential Oil Market
9.3.5.2.1 China Lemongrass Essential Oil Market by Product Type
9.3.5.2.2 China Lemongrass Essential Oil Market by Application
9.3.5.3 India Lemongrass Essential Oil Market
9.3.5.3.1 India Lemongrass Essential Oil Market by Product Type
9.3.5.3.2 India Lemongrass Essential Oil Market by Application
9.3.5.4 Japan Lemongrass Essential Oil Market
9.3.5.4.1 Japan Lemongrass Essential Oil Market by Product Type
9.3.5.4.2 Japan Lemongrass Essential Oil Market by Application
9.3.5.5 South Korea Lemongrass Essential Oil Market
9.3.5.5.1 South Korea Lemongrass Essential Oil Market by Product Type
9.3.5.5.2 South Korea Lemongrass Essential Oil Market by Application
9.3.5.6 Rest of Asia-Pacific Lemongrass Essential Oil Market
9.3.5.6.1 Rest of Asia-Pacific Lemongrass Essential Oil Market by Product Type
9.3.5.6.2 Rest of Asia-Pacific Lemongrass Essential Oil Market by Application
9.4. MIDDLE EAST AND AFRICA
9.4.1 Middle East and Africa Lemongrass Essential Oil Market Overview
9.4.2 Middle East and Africa Lemongrass Essential Oil Market Forecasts and Analysis
9.4.3 Middle East and Africa Lemongrass Essential Oil Market Forecasts and Analysis - By Product Type
9.4.4 Middle East and Africa Lemongrass Essential Oil Market Forecasts and Analysis - By Application
9.4.5 Middle East and Africa Lemongrass Essential Oil Market Forecasts and Analysis - By Countries
9.4.5.1 South Africa Lemongrass Essential Oil Market
9.4.5.1.1 South Africa Lemongrass Essential Oil Market by Product Type
9.4.5.1.2 South Africa Lemongrass Essential Oil Market by Application
9.4.5.2 Saudi Arabia Lemongrass Essential Oil Market
9.4.5.2.1 Saudi Arabia Lemongrass Essential Oil Market by Product Type
9.4.5.2.2 Saudi Arabia Lemongrass Essential Oil Market by Application
9.4.5.3 U.A.E Lemongrass Essential Oil Market
9.4.5.3.1 U.A.E Lemongrass Essential Oil Market by Product Type
9.4.5.3.2 U.A.E Lemongrass Essential Oil Market by Application
9.4.5.4 Rest of Middle East and Africa Lemongrass Essential Oil Market
9.4.5.4.1 Rest of Middle East and Africa Lemongrass Essential Oil Market by Product Type
9.4.5.4.2 Rest of Middle East and Africa Lemongrass Essential Oil Market by Application
9.5. SOUTH AND CENTRAL AMERICA
9.5.1 South and Central America Lemongrass Essential Oil Market Overview
9.5.2 South and Central America Lemongrass Essential Oil Market Forecasts and Analysis
9.5.3 South and Central America Lemongrass Essential Oil Market Forecasts and Analysis - By Product Type
9.5.4 South and Central America Lemongrass Essential Oil Market Forecasts and Analysis - By Application
9.5.5 South and Central America Lemongrass Essential Oil Market Forecasts and Analysis - By Countries
9.5.5.1 Brazil Lemongrass Essential Oil Market
9.5.5.1.1 Brazil Lemongrass Essential Oil Market by Product Type
9.5.5.1.2 Brazil Lemongrass Essential Oil Market by Application
9.5.5.2 Argentina Lemongrass Essential Oil Market
9.5.5.2.1 Argentina Lemongrass Essential Oil Market by Product Type
9.5.5.2.2 Argentina Lemongrass Essential Oil Market by Application
9.5.5.3 Rest of South and Central America Lemongrass Essential Oil Market
9.5.5.3.1 Rest of South and Central America Lemongrass Essential Oil Market by Product Type
9.5.5.3.2 Rest of South and Central America Lemongrass Essential Oil Market by Application
10. INDUSTRY LANDSCAPE
10.1. MERGERS AND ACQUISITIONS
10.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
10.3. NEW PRODUCT LAUNCHES
10.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
11. LEMONGRASS ESSENTIAL OIL MARKET, KEY COMPANY PROFILES
11.1. DOTERRA
11.1.1. Key Facts
11.1.2. Business Description
11.1.3. Products and Services
11.1.4. Financial Overview
11.1.5. SWOT Analysis
11.1.6. Key Developments
11.2. FALCON
11.2.1. Key Facts
11.2.2. Business Description
11.2.3. Products and Services
11.2.4. Financial Overview
11.2.5. SWOT Analysis
11.2.6. Key Developments
11.3. GO NATIVE NEW ZEALAND
11.3.1. Key Facts
11.3.2. Business Description
11.3.3. Products and Services
11.3.4. Financial Overview
11.3.5. SWOT Analysis
11.3.6. Key Developments
11.4. KIS OILS
11.4.1. Key Facts
11.4.2. Business Description
11.4.3. Products and Services
11.4.4. Financial Overview
11.4.5. SWOT Analysis
11.4.6. Key Developments
11.5. PLANT THERAPY ESSENTIAL OILS
11.5.1. Key Facts
11.5.2. Business Description
11.5.3. Products and Services
11.5.4. Financial Overview
11.5.5. SWOT Analysis
11.5.6. Key Developments
11.6. RAJKEERTH AROMATICS AND BIOTECH PVT LTD.
11.6.1. Key Facts
11.6.2. Business Description
11.6.3. Products and Services
11.6.4. Financial Overview
11.6.5. SWOT Analysis
11.6.6. Key Developments
11.7. ROCKY MOUNTAIN OILS
11.7.1. Key Facts
11.7.2. Business Description
11.7.3. Products and Services
11.7.4. Financial Overview
11.7.5. SWOT Analysis
11.7.6. Key Developments
11.8. SYDELLA LABORATOIRE
11.8.1. Key Facts
11.8.2. Business Description
11.8.3. Products and Services
11.8.4. Financial Overview
11.8.5. SWOT Analysis
11.8.6. Key Developments
11.9. THE LEBURMUTH COMPANY
11.9.1. Key Facts
11.9.2. Business Description
11.9.3. Products and Services
11.9.4. Financial Overview
11.9.5. SWOT Analysis
11.9.6. Key Developments
11.10. YOUNG LIVING ESSENTIAL OILS
11.10.1. Key Facts
11.10.2. Business Description
11.10.3. Products and Services
11.10.4. Financial Overview
11.10.5. SWOT Analysis
11.10.6. Key Developments
12. APPENDIX
12.1. ABOUT THE INSIGHT PARTNERS
12.2. GLOSSARY OF TERMS
1. doTerra
2. Falcon
3. Go Native New Zealand
4. Kis Oils
5. Plant Therapy Essential Oils
6. Rajkeerth Aromatics and Biotech Pvt Ltd.
7. Rocky Mountain Oils
8. Sydella Laboratoire
9. The Leburmuth Company
10. Young Living Essential Oils
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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