Isopropyl Myristate Market
Isopropyl Myristate Market Forecasts to 2030 - Global Analysis By Form (Solid, Liquid, Solidified Melt, Supercooled Melt and Other Forms), Application, End User and By Geography
According to Stratistics MRC, the Global Isopropyl Myristate Market is accounted for $84.7 million in 2024 and is expected to reach $146.1 million by 2030 growing at a CAGR of 9.5% during the forecast period. Isopropyl Myristate (IPM) is an ester derived from isopropyl alcohol and myristic acid, used as a polar emollient in cosmetic and pharmaceutical formulations to enhance skin absorption of active ingredients. Its clear, colorless, oil-like liquid form serves multiple purposes, including skin moisturizer, drug penetration enhancer, pediculicide, and cosmetic ingredient. IPM is primarily used in pharmaceuticals to enhance drug penetration through the skin, treating head lice by coating them and disrupting their waxy exoskeleton.
Market Dynamics:
Driver:
Increasing emphasis on personal grooming and beauty
The global increase in consumer awareness about personal grooming and skincare has boosted the demand for isopropyl myristate in cosmetics and personal care products. Its superior emollient properties and ability to improve skin texture and absorption make it a preferred ingredient in lotions, creams, and makeup. The trend towards non-greasy and lightweight formulations is driving IPM's adoption in various products.
Restraint:
Potential for allergic reactions
Regulatory scrutiny and a shift towards natural alternatives could lead to increased compliance costs for manufacturers and potentially limit the market growth of Inhaled Perfume (IPM). Consumer preference for hypoallergenic products may also drive manufacturers to prioritize ingredients with lower allergenic potential which hampers the growth of the market.
Opportunity:
Technological advancements in aquaculture
The demand for sustainable ingredients in aquaculture-related products is increasing due to the evolution of aquaculture practices. Emollient polymers (IPM) are being used to enhance aquatic organism health and growth. Innovations in aquaculture technology, such as improved feed formulations and health management systems, may incorporate IPM to improve nutrient delivery and absorption in aquatic species.
Threat:
Competition from synthetic alternatives
The increasing demand for natural and organic products may lead to a shift towards synthetic alternatives, potentially decreasing interest in injection molding (IPM), especially in the personal care and cosmetics sectors where natural ingredients are preferred. Moreover to remain competitive, IPM manufacturers may need to invest heavily in research and development to enhance their product offerings and differentiate IPM from synthetic alternatives.
Covid-19 Impact:
The COVID-19 pandemic significantly impacted the isopropyl myristate (IPM) market, causing fluctuations in demand and disruptions in supply chains. Lockdowns and social distancing measures led to reduced consumer spending on non-essential products, particularly in the cosmetics and personal care sectors, which are major consumers of IPM. However, the pharmaceutical industry saw steady demand for IPM due to its use in topical formulations.
The solid segment is expected to be the largest during the forecast period
The solid is expected to be the largest during the forecast period because solid isopropyl myristate (IPM) is a versatile ingredient used in cosmetics, pharmaceuticals, and cosmetics to improve product texture and stability. It enhances active ingredient absorption in topical products, and its use in the growing pharmaceutical industry, especially in developing regions, supports its demand.
The perfumes segment is expected to have the highest CAGR during the forecast period
The perfumes segment is expected to have the highest CAGR during the forecast period as it enhances the perceived intensity of fragrances, making it a valuable ingredient and isopropyl myristate is a solvent and carrier used in perfume formulations to dissolve and stabilize fragrance components. Studies show that mixing a fragrance component with IPM can improve its intensity, especially when applied in fabric care products under dry stage conditions driving the market growth.
Region with largest share:
North America is projected to hold the largest market share during the forecast period owing to their gaining popularity in the personal care and cosmetics industry as an emollient, lubricant, and thickening agent, improving the texture and spreadability of creams, lotions, and other cosmetic products. Its increasing demand in the pharmaceutical industry drives market growth.
Region with highest CAGR:
Asia Pacific is projected to witness the highest CAGR over the forecast period due to the increasing disposable income of consumers drives the growth of the personal care and cosmetics market, while the region's growing manufacturing capabilities in these sectors are facilitating the expansion of the IPM market by increasing the availability of products containing this ingredient.
Key players in the market
Some of the key players in Isopropyl Myristate market include BASF SE, Berg + Schmidt GmbH & Co. KG, Croda International Plc, Dadiachemical.co, Emco Dyestuff Pvt Ltd, IOI Oleochemicals, Jarchem Industries Inc., KLK OLEO, Kokyu Alcohol Kogyo Co., Ltd., Mosselman S.A., Nanjing Chemical Material Corp, TOP Pharm Chemical Group, Ventos, VG Organics and Wego Chemical Group
Key Developments:
In July 2024, BASF has introduced Haptex® 4.0, a sustainable synthetic leather that aims to address environmental concerns associated with traditional synthetic leathers. This innovative product is designed to meet the growing demand for eco-friendly materials in the fashion and automotive industries.
In July 2024, BASF and ‘Pragati’ extends full transparency & traceability to bio-based footwear solutions with SuCCESS code. This initiative focuses on enhancing sustainability within the footwear industry by ensuring that castor oil and its derivatives
Forms Covered:
• Solid
• Liquid
• Solidified Melt
• Supercooled Melt
• Other Forms
Applications Covered:
• Haircare
• Skincare
• Pesticides
• Oral Care
• Perfumes
• Prosthetics
• Food Additives
• Lipids
• Flavoring Agents
• Other Applications
End Users Covered:
• Cosmetic Industry
• Pharmaceutical
• Food & Beverage
• Other End Users
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2022, 2023, 2024, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Application Analysis
3.7 End User Analysis
3.8 Emerging Markets
3.9 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Isopropyl Myristate Market, By Form
5.1 Introduction
5.2 Solid
5.3 Liquid
5.4 Solidified Melt
5.5 Supercooled Melt
5.6 Other Forms
6 Global Isopropyl Myristate Market, By Application
6.1 Introduction
6.2 Haircare
6.3 Skincare
6.4 Pesticides
6.5 Oral Care
6.6 Perfumes
6.7 Prosthetics
6.8 Food Additives
6.9 Lipids
6.10 Flavoring Agents
6.11 Other Applications
7 Global Isopropyl Myristate Market, By End User
7.1 Introduction
7.2 Cosmetic Industry
7.3 Pharmaceutical
7.4 Food & Beverage
7.5 Other End Users
8 Global Isopropyl Myristate Market, By Geography
8.1 Introduction
8.2 North America
8.2.1 US
8.2.2 Canada
8.2.3 Mexico
8.3 Europe
8.3.1 Germany
8.3.2 UK
8.3.3 Italy
8.3.4 France
8.3.5 Spain
8.3.6 Rest of Europe
8.4 Asia Pacific
8.4.1 Japan
8.4.2 China
8.4.3 India
8.4.4 Australia
8.4.5 New Zealand
8.4.6 South Korea
8.4.7 Rest of Asia Pacific
8.5 South America
8.5.1 Argentina
8.5.2 Brazil
8.5.3 Chile
8.5.4 Rest of South America
8.6 Middle East & Africa
8.6.1 Saudi Arabia
8.6.2 UAE
8.6.3 Qatar
8.6.4 South Africa
8.6.5 Rest of Middle East & Africa
9 Key Developments
9.1 Agreements, Partnerships, Collaborations and Joint Ventures
9.2 Acquisitions & Mergers
9.3 New Product Launch
9.4 Expansions
9.5 Other Key Strategies
10 Company Profiling
10.1 BASF SE
10.2 Berg + Schmidt GmbH & Co. KG
10.3 Croda International Plc
10.4 Dadiachemical.com
10.5 Emco Dyestuff Pvt Ltd
10.6 IOI Oleochemicals
10.7 Jarchem Industries Inc.
10.8 KLK OLEO
10.9 Kokyu Alcohol Kogyo Co., Ltd.
10.10 Mosselman S.A.
10.11 Nanjing Chemical Material Corp
10.12 TOP Pharm Chemical Group
10.13 Ventos
10.14 VG Organics
10.15 Wego Chemical Group
List of Tables
1 Global Isopropyl Myristate Market Outlook, By Region (2022-2030) ($MN)
2 Global Isopropyl Myristate Market Outlook, By Form (2022-2030) ($MN)
3 Global Isopropyl Myristate Market Outlook, By Solid (2022-2030) ($MN)
4 Global Isopropyl Myristate Market Outlook, By Liquid (2022-2030) ($MN)
5 Global Isopropyl Myristate Market Outlook, By Solidified Melt (2022-2030) ($MN)
6 Global Isopropyl Myristate Market Outlook, By Supercooled Melt (2022-2030) ($MN)
7 Global Isopropyl Myristate Market Outlook, By Other Forms (2022-2030) ($MN)
8 Global Isopropyl Myristate Market Outlook, By Application (2022-2030) ($MN)
9 Global Isopropyl Myristate Market Outlook, By Haircare (2022-2030) ($MN)
10 Global Isopropyl Myristate Market Outlook, By Skincare (2022-2030) ($MN)
11 Global Isopropyl Myristate Market Outlook, By Pesticides (2022-2030) ($MN)
12 Global Isopropyl Myristate Market Outlook, By Oral Care (2022-2030) ($MN)
13 Global Isopropyl Myristate Market Outlook, By Perfumes (2022-2030) ($MN)
14 Global Isopropyl Myristate Market Outlook, By Prosthetics (2022-2030) ($MN)
15 Global Isopropyl Myristate Market Outlook, By Food Additives (2022-2030) ($MN)
16 Global Isopropyl Myristate Market Outlook, By Lipids (2022-2030) ($MN)
17 Global Isopropyl Myristate Market Outlook, By Flavoring Agents (2022-2030) ($MN)
18 Global Isopropyl Myristate Market Outlook, By Other Applications (2022-2030) ($MN)
19 Global Isopropyl Myristate Market Outlook, By End User (2022-2030) ($MN)
20 Global Isopropyl Myristate Market Outlook, By Cosmetic Industry (2022-2030) ($MN)
21 Global Isopropyl Myristate Market Outlook, By Pharmaceutical (2022-2030) ($MN)
22 Global Isopropyl Myristate Market Outlook, By Food & Beverage (2022-2030) ($MN)
23 Global Isopropyl Myristate Market Outlook, By Other End Users (2022-2030) ($MN)
24 North America Isopropyl Myristate Market Outlook, By Country (2022-2030) ($MN)
25 North America Isopropyl Myristate Market Outlook, By Form (2022-2030) ($MN)
26 North America Isopropyl Myristate Market Outlook, By Solid (2022-2030) ($MN)
27 North America Isopropyl Myristate Market Outlook, By Liquid (2022-2030) ($MN)
28 North America Isopropyl Myristate Market Outlook, By Solidified Melt (2022-2030) ($MN)
29 North America Isopropyl Myristate Market Outlook, By Supercooled Melt (2022-2030) ($MN)
30 North America Isopropyl Myristate Market Outlook, By Other Forms (2022-2030) ($MN)
31 North America Isopropyl Myristate Market Outlook, By Application (2022-2030) ($MN)
32 North America Isopropyl Myristate Market Outlook, By Haircare (2022-2030) ($MN)
33 North America Isopropyl Myristate Market Outlook, By Skincare (2022-2030) ($MN)
34 North America Isopropyl Myristate Market Outlook, By Pesticides (2022-2030) ($MN)
35 North America Isopropyl Myristate Market Outlook, By Oral Care (2022-2030) ($MN)
36 North America Isopropyl Myristate Market Outlook, By Perfumes (2022-2030) ($MN)
37 North America Isopropyl Myristate Market Outlook, By Prosthetics (2022-2030) ($MN)
38 North America Isopropyl Myristate Market Outlook, By Food Additives (2022-2030) ($MN)
39 North America Isopropyl Myristate Market Outlook, By Lipids (2022-2030) ($MN)
40 North America Isopropyl Myristate Market Outlook, By Flavoring Agents (2022-2030) ($MN)
41 North America Isopropyl Myristate Market Outlook, By Other Applications (2022-2030) ($MN)
42 North America Isopropyl Myristate Market Outlook, By End User (2022-2030) ($MN)
43 North America Isopropyl Myristate Market Outlook, By Cosmetic Industry (2022-2030) ($MN)
44 North America Isopropyl Myristate Market Outlook, By Pharmaceutical (2022-2030) ($MN)
45 North America Isopropyl Myristate Market Outlook, By Food & Beverage (2022-2030) ($MN)
46 North America Isopropyl Myristate Market Outlook, By Other End Users (2022-2030) ($MN)
47 Europe Isopropyl Myristate Market Outlook, By Country (2022-2030) ($MN)
48 Europe Isopropyl Myristate Market Outlook, By Form (2022-2030) ($MN)
49 Europe Isopropyl Myristate Market Outlook, By Solid (2022-2030) ($MN)
50 Europe Isopropyl Myristate Market Outlook, By Liquid (2022-2030) ($MN)
51 Europe Isopropyl Myristate Market Outlook, By Solidified Melt (2022-2030) ($MN)
52 Europe Isopropyl Myristate Market Outlook, By Supercooled Melt (2022-2030) ($MN)
53 Europe Isopropyl Myristate Market Outlook, By Other Forms (2022-2030) ($MN)
54 Europe Isopropyl Myristate Market Outlook, By Application (2022-2030) ($MN)
55 Europe Isopropyl Myristate Market Outlook, By Haircare (2022-2030) ($MN)
56 Europe Isopropyl Myristate Market Outlook, By Skincare (2022-2030) ($MN)
57 Europe Isopropyl Myristate Market Outlook, By Pesticides (2022-2030) ($MN)
58 Europe Isopropyl Myristate Market Outlook, By Oral Care (2022-2030) ($MN)
59 Europe Isopropyl Myristate Market Outlook, By Perfumes (2022-2030) ($MN)
60 Europe Isopropyl Myristate Market Outlook, By Prosthetics (2022-2030) ($MN)
61 Europe Isopropyl Myristate Market Outlook, By Food Additives (2022-2030) ($MN)
62 Europe Isopropyl Myristate Market Outlook, By Lipids (2022-2030) ($MN)
63 Europe Isopropyl Myristate Market Outlook, By Flavoring Agents (2022-2030) ($MN)
64 Europe Isopropyl Myristate Market Outlook, By Other Applications (2022-2030) ($MN)
65 Europe Isopropyl Myristate Market Outlook, By End User (2022-2030) ($MN)
66 Europe Isopropyl Myristate Market Outlook, By Cosmetic Industry (2022-2030) ($MN)
67 Europe Isopropyl Myristate Market Outlook, By Pharmaceutical (2022-2030) ($MN)
68 Europe Isopropyl Myristate Market Outlook, By Food & Beverage (2022-2030) ($MN)
69 Europe Isopropyl Myristate Market Outlook, By Other End Users (2022-2030) ($MN)
70 Asia Pacific Isopropyl Myristate Market Outlook, By Country (2022-2030) ($MN)
71 Asia Pacific Isopropyl Myristate Market Outlook, By Form (2022-2030) ($MN)
72 Asia Pacific Isopropyl Myristate Market Outlook, By Solid (2022-2030) ($MN)
73 Asia Pacific Isopropyl Myristate Market Outlook, By Liquid (2022-2030) ($MN)
74 Asia Pacific Isopropyl Myristate Market Outlook, By Solidified Melt (2022-2030) ($MN)
75 Asia Pacific Isopropyl Myristate Market Outlook, By Supercooled Melt (2022-2030) ($MN)
76 Asia Pacific Isopropyl Myristate Market Outlook, By Other Forms (2022-2030) ($MN)
77 Asia Pacific Isopropyl Myristate Market Outlook, By Application (2022-2030) ($MN)
78 Asia Pacific Isopropyl Myristate Market Outlook, By Haircare (2022-2030) ($MN)
79 Asia Pacific Isopropyl Myristate Market Outlook, By Skincare (2022-2030) ($MN)
80 Asia Pacific Isopropyl Myristate Market Outlook, By Pesticides (2022-2030) ($MN)
81 Asia Pacific Isopropyl Myristate Market Outlook, By Oral Care (2022-2030) ($MN)
82 Asia Pacific Isopropyl Myristate Market Outlook, By Perfumes (2022-2030) ($MN)
83 Asia Pacific Isopropyl Myristate Market Outlook, By Prosthetics (2022-2030) ($MN)
84 Asia Pacific Isopropyl Myristate Market Outlook, By Food Additives (2022-2030) ($MN)
85 Asia Pacific Isopropyl Myristate Market Outlook, By Lipids (2022-2030) ($MN)
86 Asia Pacific Isopropyl Myristate Market Outlook, By Flavoring Agents (2022-2030) ($MN)
87 Asia Pacific Isopropyl Myristate Market Outlook, By Other Applications (2022-2030) ($MN)
88 Asia Pacific Isopropyl Myristate Market Outlook, By End User (2022-2030) ($MN)
89 Asia Pacific Isopropyl Myristate Market Outlook, By Cosmetic Industry (2022-2030) ($MN)
90 Asia Pacific Isopropyl Myristate Market Outlook, By Pharmaceutical (2022-2030) ($MN)
91 Asia Pacific Isopropyl Myristate Market Outlook, By Food & Beverage (2022-2030) ($MN)
92 Asia Pacific Isopropyl Myristate Market Outlook, By Other End Users (2022-2030) ($MN)
93 South America Isopropyl Myristate Market Outlook, By Country (2022-2030) ($MN)
94 South America Isopropyl Myristate Market Outlook, By Form (2022-2030) ($MN)
95 South America Isopropyl Myristate Market Outlook, By Solid (2022-2030) ($MN)
96 South America Isopropyl Myristate Market Outlook, By Liquid (2022-2030) ($MN)
97 South America Isopropyl Myristate Market Outlook, By Solidified Melt (2022-2030) ($MN)
98 South America Isopropyl Myristate Market Outlook, By Supercooled Melt (2022-2030) ($MN)
99 South America Isopropyl Myristate Market Outlook, By Other Forms (2022-2030) ($MN)
100 South America Isopropyl Myristate Market Outlook, By Application (2022-2030) ($MN)
101 South America Isopropyl Myristate Market Outlook, By Haircare (2022-2030) ($MN)
102 South America Isopropyl Myristate Market Outlook, By Skincare (2022-2030) ($MN)
103 South America Isopropyl Myristate Market Outlook, By Pesticides (2022-2030) ($MN)
104 South America Isopropyl Myristate Market Outlook, By Oral Care (2022-2030) ($MN)
105 South America Isopropyl Myristate Market Outlook, By Perfumes (2022-2030) ($MN)
106 South America Isopropyl Myristate Market Outlook, By Prosthetics (2022-2030) ($MN)
107 South America Isopropyl Myristate Market Outlook, By Food Additives (2022-2030) ($MN)
108 South America Isopropyl Myristate Market Outlook, By Lipids (2022-2030) ($MN)
109 South America Isopropyl Myristate Market Outlook, By Flavoring Agents (2022-2030) ($MN)
110 South America Isopropyl Myristate Market Outlook, By Other Applications (2022-2030) ($MN)
111 South America Isopropyl Myristate Market Outlook, By End User (2022-2030) ($MN)
112 South America Isopropyl Myristate Market Outlook, By Cosmetic Industry (2022-2030) ($MN)
113 South America Isopropyl Myristate Market Outlook, By Pharmaceutical (2022-2030) ($MN)
114 South America Isopropyl Myristate Market Outlook, By Food & Beverage (2022-2030) ($MN)
115 South America Isopropyl Myristate Market Outlook, By Other End Users (2022-2030) ($MN)
116 Middle East & Africa Isopropyl Myristate Market Outlook, By Country (2022-2030) ($MN)
117 Middle East & Africa Isopropyl Myristate Market Outlook, By Form (2022-2030) ($MN)
118 Middle East & Africa Isopropyl Myristate Market Outlook, By Solid (2022-2030) ($MN)
119 Middle East & Africa Isopropyl Myristate Market Outlook, By Liquid (2022-2030) ($MN)
120 Middle East & Africa Isopropyl Myristate Market Outlook, By Solidified Melt (2022-2030) ($MN)
121 Middle East & Africa Isopropyl Myristate Market Outlook, By Supercooled Melt (2022-2030) ($MN)
122 Middle East & Africa Isopropyl Myristate Market Outlook, By Other Forms (2022-2030) ($MN)
123 Middle East & Africa Isopropyl Myristate Market Outlook, By Application (2022-2030) ($MN)
124 Middle East & Africa Isopropyl Myristate Market Outlook, By Haircare (2022-2030) ($MN)
125 Middle East & Africa Isopropyl Myristate Market Outlook, By Skincare (2022-2030) ($MN)
126 Middle East & Africa Isopropyl Myristate Market Outlook, By Pesticides (2022-2030) ($MN)
127 Middle East & Africa Isopropyl Myristate Market Outlook, By Oral Care (2022-2030) ($MN)
128 Middle East & Africa Isopropyl Myristate Market Outlook, By Perfumes (2022-2030) ($MN)
129 Middle East & Africa Isopropyl Myristate Market Outlook, By Prosthetics (2022-2030) ($MN)
130 Middle East & Africa Isopropyl Myristate Market Outlook, By Food Additives (2022-2030) ($MN)
131 Middle East & Africa Isopropyl Myristate Market Outlook, By Lipids (2022-2030) ($MN)
132 Middle East & Africa Isopropyl Myristate Market Outlook, By Flavoring Agents (2022-2030) ($MN)
133 Middle East & Africa Isopropyl Myristate Market Outlook, By Other Applications (2022-2030) ($MN)
134 Middle East & Africa Isopropyl Myristate Market Outlook, By End User (2022-2030) ($MN)
135 Middle East & Africa Isopropyl Myristate Market Outlook, By Cosmetic Industry (2022-2030) ($MN)
136 Middle East & Africa Isopropyl Myristate Market Outlook, By Pharmaceutical (2022-2030) ($MN)
137 Middle East & Africa Isopropyl Myristate Market Outlook, By Food & Beverage (2022-2030) ($MN)
138 Middle East & Africa Isopropyl Myristate Market Outlook, By Other End Users (2022-2030) ($MN)
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
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Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
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The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
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