Key Insights
The biodegradable plastics market is experiencing robust growth, driven by escalating environmental concerns and stringent regulations against conventional plastics. A compound annual growth rate (CAGR) of 20.70% from 2019 to 2024 indicates a significant expansion, and this trajectory is expected to continue throughout the forecast period (2025-2033). The market's segmentation reflects diverse applications, with starch-based and cellulose-based plastics dominating the type segment due to their cost-effectiveness and wide availability. PLA and PHA, while currently holding smaller shares, are experiencing rapid adoption fueled by their superior biodegradability and potential for high-value applications within the food, pharmaceutical, and personal/homecare sectors. The considerable market size, estimated to be several billion dollars in 2025 (exact figure unavailable but easily derivable using the CAGR and provided base year data), highlights the substantial investment opportunity. Growth is geographically diverse, with North America and Europe currently leading, though the Asia-Pacific region is projected to witness the most significant expansion due to rising disposable incomes and increasing awareness of environmental sustainability. Key players in this dynamic market, such as Kruger Inc., Rengo Co Ltd, and Amcor PLC, are investing heavily in research and development to improve the performance and reduce the cost of biodegradable plastics, further fueling market expansion. Challenges, however, include the higher production cost compared to conventional plastics and inconsistent biodegradability across different types and environmental conditions. Overcoming these hurdles through technological advancements and improved infrastructure will be crucial for unlocking the full potential of this rapidly evolving sector.
Biodegradable Plastics Market Market Size (In Billion)
This significant growth is further fueled by governmental initiatives promoting sustainable packaging and waste reduction, as well as increasing consumer demand for eco-friendly products. The continuous development of new biodegradable plastic types with improved properties, such as enhanced strength, flexibility and biodegradability under various conditions, will be a major driver for market expansion in the coming years. While the higher initial cost of biodegradable plastics remains a restraint, economies of scale and technological advancements are steadily decreasing this difference, making them a increasingly viable alternative for a wider range of applications. The diverse range of applications, combined with the ongoing shift towards sustainable practices across various industries, positions the biodegradable plastics market for continued substantial growth throughout the forecast period and beyond, creating promising opportunities for companies engaged in the production, processing, and distribution of these materials.
Biodegradable Plastics Market Company Market Share
Biodegradable Plastics Market Report: 2019-2033
This comprehensive report provides an in-depth analysis of the Biodegradable Plastics market, encompassing its parent market (packaging materials) and child markets (food packaging, medical packaging, etc.). The study period covers 2019-2033, with 2025 as the base and estimated year. The report projects a market value of xx Million by 2033, driven by increasing environmental concerns and stringent regulations.
Biodegradable Plastics Market Dynamics & Structure
The Biodegradable Plastics market is characterized by moderate concentration, with key players like Kruger Inc, Rengo Co Ltd, DS Smith PLC, Amcor PLC, Mondi PLC, Plastic Suppliers Inc, International Paper Company, Smurfit Kappa Group PLC, Tetra Pak International SA, and Klabin SA holding significant market share. However, the market is witnessing increased competition from new entrants and technological innovations.
- Market Concentration: The market exhibits a moderately concentrated structure with the top 10 players holding approximately xx% of the market share in 2025.
- Technological Innovation: Ongoing research in bio-based polymers and improved production processes are key drivers. However, high production costs and scalability challenges remain barriers.
- Regulatory Frameworks: Government regulations promoting sustainable packaging are significantly boosting market growth. However, variations in regulations across geographies create complexities.
- Competitive Product Substitutes: Conventional plastics remain a strong competitor due to lower costs. However, growing environmental concerns are shifting consumer preference towards biodegradable alternatives.
- End-User Demographics: Growing environmental consciousness among consumers, particularly millennials and Gen Z, fuels demand for eco-friendly packaging.
- M&A Trends: The number of M&A deals in the biodegradable plastics sector increased by xx% between 2020 and 2024, indicating increased consolidation and strategic expansion.
Biodegradable Plastics Market Growth Trends & Insights
The Biodegradable Plastics market experienced significant growth during the historical period (2019-2024), registering a CAGR of xx%. This growth is attributed to increasing awareness of environmental sustainability, stringent regulations on plastic waste, and the rising demand for eco-friendly packaging solutions across various industries. The market is expected to continue its upward trajectory during the forecast period (2025-2033), with a projected CAGR of xx%. Factors like technological advancements leading to improved material properties and cost reductions, coupled with favorable government policies promoting biodegradable plastics, will significantly contribute to market expansion. Consumer behavior is shifting towards sustainable products, further driving the demand for biodegradable alternatives. Market penetration is anticipated to reach xx% by 2033.
Dominant Regions, Countries, or Segments in Biodegradable Plastics Market
The Asia-Pacific region is projected to be the leading market for biodegradable plastics in 2025, followed by North America and Europe. Within these regions, China, the US, and Germany are expected to be the largest national markets.
By Type:
- Polylactic Acid (PLA): This segment holds the largest market share due to its wide applicability and established production infrastructure. Growth is driven by advancements in PLA production techniques, leading to improved material properties and cost reductions.
- Starch-based plastics: This segment is experiencing significant growth due to its biodegradability and cost-effectiveness. However, limitations in material properties and susceptibility to moisture hinder its wider adoption.
- Cellulose-based plastics: This segment shows promising potential due to its abundance and renewability. Advancements in cellulose modification techniques are expected to drive growth.
By Application:
- Food and Beverage: This is the dominant application segment, driven by the increasing demand for eco-friendly food packaging.
- Pharmaceutical: The growing focus on sustainable packaging in the pharmaceutical industry is driving demand for biodegradable plastics.
Key Drivers:
- Stringent regulations on plastic waste in several countries.
- Growing consumer awareness of environmental issues.
- Increasing demand for sustainable packaging in various industries.
Biodegradable Plastics Market Product Landscape
The biodegradable plastics market is witnessing continuous innovation in material properties, improving their strength, flexibility, and barrier properties. PLA-based products are currently dominant, but there’s increasing interest in PHA-based materials due to their superior biodegradability. Key product innovations focus on enhancing heat resistance, water resistance, and biodegradability under various conditions. Many manufacturers are focusing on creating products with unique selling propositions, such as compostability at home or specific barrier properties for particular applications.
Key Drivers, Barriers & Challenges in Biodegradable Plastics Market
Key Drivers:
- Growing environmental concerns and the need to reduce plastic waste.
- Increasing government regulations and incentives promoting sustainable packaging.
- Technological advancements leading to improved material properties and cost reductions.
Key Challenges:
- Higher production costs compared to conventional plastics.
- Limited scalability and infrastructure for large-scale production.
- Challenges in achieving consistent biodegradability under various composting conditions. The lack of standardized testing methods leads to inconsistency in product claims.
Emerging Opportunities in Biodegradable Plastics Market
Untapped markets in developing countries with growing middle classes present significant opportunities. Innovation in high-value applications, such as medical implants and electronics packaging, offers substantial potential. Consumer preference shifts toward compostable and home-compostable packaging are creating new niches.
Growth Accelerators in the Biodegradable Plastics Market Industry
Technological breakthroughs in biopolymer synthesis are crucial. Strategic partnerships between material manufacturers, packaging converters, and brands are essential for scaling up production and market penetration. Expansion into new applications, such as single-use medical devices and agricultural films, provides further growth avenues.
Key Players Shaping the Biodegradable Plastics Market Market
- Kruger Inc
- Rengo Co Ltd
- DS Smith PLC
- Amcor PLC
- Mondi PLC
- Plastic Suppliers Inc
- International Paper Company
- Smurfit Kappa Group PLC
- Tetra Pak International SA
- Klabin SA
Notable Milestones in Biodegradable Plastics Market Sector
- 2020: Several major companies launched new lines of biodegradable packaging.
- 2021: New regulations on plastic waste were introduced in several key markets.
- 2022: Significant investments were made in research and development of new biodegradable materials.
- 2023: Several mergers and acquisitions occurred in the industry.
In-Depth Biodegradable Plastics Market Market Outlook
The biodegradable plastics market is poised for robust growth driven by continued technological advancements, favorable regulatory support, and increasing consumer demand for sustainable alternatives. Strategic partnerships and innovations in material properties will be crucial for driving future growth. The market offers significant opportunities for companies that can effectively address the challenges of cost, scalability, and consistent biodegradability. Expansion into new applications and markets will further fuel this expansion.
Biodegradable Plastics Market Segmentation
-
1. Type
- 1.1. Starch Based plastic
- 1.2. Cellulose Based Plastics
- 1.3. Polylactic Acid (PLA)
- 1.4. Polyhydroxyalkanoates (PHA)
- 1.5. Other Plastic Types
-
2. Application
- 2.1. Food
- 2.2. Beverage
- 2.3. Pharmaceutical
- 2.4. Personal/Homecare
- 2.5. Other Applications
Biodegradable Plastics Market Segmentation By Geography
- 1. North America
- 2. Europe
- 3. Asia Pacific
- 4. Latin America
- 5. Middle East
Biodegradable Plastics Market Regional Market Share
Geographic Coverage of Biodegradable Plastics Market
Biodegradable Plastics Market REPORT HIGHLIGHTS
| Aspects | Details |
|---|---|
| Study Period | 2020-2034 |
| Base Year | 2025 |
| Estimated Year | 2026 |
| Forecast Period | 2026-2034 |
| Historical Period | 2020-2025 |
| Growth Rate | CAGR of 20.70% from 2020-2034 |
| Segmentation |
|
Table of Contents
- 1. Introduction
- 1.1. Research Scope
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.4. Definitions and Assumptions
- 2. Executive Summary
- 2.1. Introduction
- 3. Market Dynamics
- 3.1. Introduction
- 3.2. Market Drivers
- 3.2.1. ; Growing Environmental Concerns Regarding Plastic Pollution; Stringent Regulations by Various Government and Federal Agencies
- 3.3. Market Restrains
- 3.3.1. ; High Costs Compared to Normal Plastic
- 3.4. Market Trends
- 3.4.1. Use of Bioplastics is Stimulating the Market Growth
- 4. Market Factor Analysis
- 4.1. Porters Five Forces
- 4.2. Supply/Value Chain
- 4.3. PESTEL analysis
- 4.4. Market Entropy
- 4.5. Patent/Trademark Analysis
- 5. Global Biodegradable Plastics Market Analysis, Insights and Forecast, 2020-2032
- 5.1. Market Analysis, Insights and Forecast - by Type
- 5.1.1. Starch Based plastic
- 5.1.2. Cellulose Based Plastics
- 5.1.3. Polylactic Acid (PLA)
- 5.1.4. Polyhydroxyalkanoates (PHA)
- 5.1.5. Other Plastic Types
- 5.2. Market Analysis, Insights and Forecast - by Application
- 5.2.1. Food
- 5.2.2. Beverage
- 5.2.3. Pharmaceutical
- 5.2.4. Personal/Homecare
- 5.2.5. Other Applications
- 5.3. Market Analysis, Insights and Forecast - by Region
- 5.3.1. North America
- 5.3.2. Europe
- 5.3.3. Asia Pacific
- 5.3.4. Latin America
- 5.3.5. Middle East
- 5.1. Market Analysis, Insights and Forecast - by Type
- 6. North America Biodegradable Plastics Market Analysis, Insights and Forecast, 2020-2032
- 6.1. Market Analysis, Insights and Forecast - by Type
- 6.1.1. Starch Based plastic
- 6.1.2. Cellulose Based Plastics
- 6.1.3. Polylactic Acid (PLA)
- 6.1.4. Polyhydroxyalkanoates (PHA)
- 6.1.5. Other Plastic Types
- 6.2. Market Analysis, Insights and Forecast - by Application
- 6.2.1. Food
- 6.2.2. Beverage
- 6.2.3. Pharmaceutical
- 6.2.4. Personal/Homecare
- 6.2.5. Other Applications
- 6.1. Market Analysis, Insights and Forecast - by Type
- 7. Europe Biodegradable Plastics Market Analysis, Insights and Forecast, 2020-2032
- 7.1. Market Analysis, Insights and Forecast - by Type
- 7.1.1. Starch Based plastic
- 7.1.2. Cellulose Based Plastics
- 7.1.3. Polylactic Acid (PLA)
- 7.1.4. Polyhydroxyalkanoates (PHA)
- 7.1.5. Other Plastic Types
- 7.2. Market Analysis, Insights and Forecast - by Application
- 7.2.1. Food
- 7.2.2. Beverage
- 7.2.3. Pharmaceutical
- 7.2.4. Personal/Homecare
- 7.2.5. Other Applications
- 7.1. Market Analysis, Insights and Forecast - by Type
- 8. Asia Pacific Biodegradable Plastics Market Analysis, Insights and Forecast, 2020-2032
- 8.1. Market Analysis, Insights and Forecast - by Type
- 8.1.1. Starch Based plastic
- 8.1.2. Cellulose Based Plastics
- 8.1.3. Polylactic Acid (PLA)
- 8.1.4. Polyhydroxyalkanoates (PHA)
- 8.1.5. Other Plastic Types
- 8.2. Market Analysis, Insights and Forecast - by Application
- 8.2.1. Food
- 8.2.2. Beverage
- 8.2.3. Pharmaceutical
- 8.2.4. Personal/Homecare
- 8.2.5. Other Applications
- 8.1. Market Analysis, Insights and Forecast - by Type
- 9. Latin America Biodegradable Plastics Market Analysis, Insights and Forecast, 2020-2032
- 9.1. Market Analysis, Insights and Forecast - by Type
- 9.1.1. Starch Based plastic
- 9.1.2. Cellulose Based Plastics
- 9.1.3. Polylactic Acid (PLA)
- 9.1.4. Polyhydroxyalkanoates (PHA)
- 9.1.5. Other Plastic Types
- 9.2. Market Analysis, Insights and Forecast - by Application
- 9.2.1. Food
- 9.2.2. Beverage
- 9.2.3. Pharmaceutical
- 9.2.4. Personal/Homecare
- 9.2.5. Other Applications
- 9.1. Market Analysis, Insights and Forecast - by Type
- 10. Middle East Biodegradable Plastics Market Analysis, Insights and Forecast, 2020-2032
- 10.1. Market Analysis, Insights and Forecast - by Type
- 10.1.1. Starch Based plastic
- 10.1.2. Cellulose Based Plastics
- 10.1.3. Polylactic Acid (PLA)
- 10.1.4. Polyhydroxyalkanoates (PHA)
- 10.1.5. Other Plastic Types
- 10.2. Market Analysis, Insights and Forecast - by Application
- 10.2.1. Food
- 10.2.2. Beverage
- 10.2.3. Pharmaceutical
- 10.2.4. Personal/Homecare
- 10.2.5. Other Applications
- 10.1. Market Analysis, Insights and Forecast - by Type
- 11. Competitive Analysis
- 11.1. Global Market Share Analysis 2025
- 11.2. Company Profiles
- 11.2.1 Kruger Inc
- 11.2.1.1. Overview
- 11.2.1.2. Products
- 11.2.1.3. SWOT Analysis
- 11.2.1.4. Recent Developments
- 11.2.1.5. Financials (Based on Availability)
- 11.2.2 Rengo Co Ltd*List Not Exhaustive
- 11.2.2.1. Overview
- 11.2.2.2. Products
- 11.2.2.3. SWOT Analysis
- 11.2.2.4. Recent Developments
- 11.2.2.5. Financials (Based on Availability)
- 11.2.3 DS Smith PLC
- 11.2.3.1. Overview
- 11.2.3.2. Products
- 11.2.3.3. SWOT Analysis
- 11.2.3.4. Recent Developments
- 11.2.3.5. Financials (Based on Availability)
- 11.2.4 Amcor PLC
- 11.2.4.1. Overview
- 11.2.4.2. Products
- 11.2.4.3. SWOT Analysis
- 11.2.4.4. Recent Developments
- 11.2.4.5. Financials (Based on Availability)
- 11.2.5 Mondi PLC
- 11.2.5.1. Overview
- 11.2.5.2. Products
- 11.2.5.3. SWOT Analysis
- 11.2.5.4. Recent Developments
- 11.2.5.5. Financials (Based on Availability)
- 11.2.6 Plastic Suppliers Inc
- 11.2.6.1. Overview
- 11.2.6.2. Products
- 11.2.6.3. SWOT Analysis
- 11.2.6.4. Recent Developments
- 11.2.6.5. Financials (Based on Availability)
- 11.2.7 International Paper Company
- 11.2.7.1. Overview
- 11.2.7.2. Products
- 11.2.7.3. SWOT Analysis
- 11.2.7.4. Recent Developments
- 11.2.7.5. Financials (Based on Availability)
- 11.2.8 Smurfit Kappa Group PLC
- 11.2.8.1. Overview
- 11.2.8.2. Products
- 11.2.8.3. SWOT Analysis
- 11.2.8.4. Recent Developments
- 11.2.8.5. Financials (Based on Availability)
- 11.2.9 Tetra Pak International SA
- 11.2.9.1. Overview
- 11.2.9.2. Products
- 11.2.9.3. SWOT Analysis
- 11.2.9.4. Recent Developments
- 11.2.9.5. Financials (Based on Availability)
- 11.2.10 Klabin SA
- 11.2.10.1. Overview
- 11.2.10.2. Products
- 11.2.10.3. SWOT Analysis
- 11.2.10.4. Recent Developments
- 11.2.10.5. Financials (Based on Availability)
- 11.2.1 Kruger Inc
List of Figures
- Figure 1: Global Biodegradable Plastics Market Revenue Breakdown (Million, %) by Region 2025 & 2033
- Figure 2: North America Biodegradable Plastics Market Revenue (Million), by Type 2025 & 2033
- Figure 3: North America Biodegradable Plastics Market Revenue Share (%), by Type 2025 & 2033
- Figure 4: North America Biodegradable Plastics Market Revenue (Million), by Application 2025 & 2033
- Figure 5: North America Biodegradable Plastics Market Revenue Share (%), by Application 2025 & 2033
- Figure 6: North America Biodegradable Plastics Market Revenue (Million), by Country 2025 & 2033
- Figure 7: North America Biodegradable Plastics Market Revenue Share (%), by Country 2025 & 2033
- Figure 8: Europe Biodegradable Plastics Market Revenue (Million), by Type 2025 & 2033
- Figure 9: Europe Biodegradable Plastics Market Revenue Share (%), by Type 2025 & 2033
- Figure 10: Europe Biodegradable Plastics Market Revenue (Million), by Application 2025 & 2033
- Figure 11: Europe Biodegradable Plastics Market Revenue Share (%), by Application 2025 & 2033
- Figure 12: Europe Biodegradable Plastics Market Revenue (Million), by Country 2025 & 2033
- Figure 13: Europe Biodegradable Plastics Market Revenue Share (%), by Country 2025 & 2033
- Figure 14: Asia Pacific Biodegradable Plastics Market Revenue (Million), by Type 2025 & 2033
- Figure 15: Asia Pacific Biodegradable Plastics Market Revenue Share (%), by Type 2025 & 2033
- Figure 16: Asia Pacific Biodegradable Plastics Market Revenue (Million), by Application 2025 & 2033
- Figure 17: Asia Pacific Biodegradable Plastics Market Revenue Share (%), by Application 2025 & 2033
- Figure 18: Asia Pacific Biodegradable Plastics Market Revenue (Million), by Country 2025 & 2033
- Figure 19: Asia Pacific Biodegradable Plastics Market Revenue Share (%), by Country 2025 & 2033
- Figure 20: Latin America Biodegradable Plastics Market Revenue (Million), by Type 2025 & 2033
- Figure 21: Latin America Biodegradable Plastics Market Revenue Share (%), by Type 2025 & 2033
- Figure 22: Latin America Biodegradable Plastics Market Revenue (Million), by Application 2025 & 2033
- Figure 23: Latin America Biodegradable Plastics Market Revenue Share (%), by Application 2025 & 2033
- Figure 24: Latin America Biodegradable Plastics Market Revenue (Million), by Country 2025 & 2033
- Figure 25: Latin America Biodegradable Plastics Market Revenue Share (%), by Country 2025 & 2033
- Figure 26: Middle East Biodegradable Plastics Market Revenue (Million), by Type 2025 & 2033
- Figure 27: Middle East Biodegradable Plastics Market Revenue Share (%), by Type 2025 & 2033
- Figure 28: Middle East Biodegradable Plastics Market Revenue (Million), by Application 2025 & 2033
- Figure 29: Middle East Biodegradable Plastics Market Revenue Share (%), by Application 2025 & 2033
- Figure 30: Middle East Biodegradable Plastics Market Revenue (Million), by Country 2025 & 2033
- Figure 31: Middle East Biodegradable Plastics Market Revenue Share (%), by Country 2025 & 2033
List of Tables
- Table 1: Global Biodegradable Plastics Market Revenue Million Forecast, by Type 2020 & 2033
- Table 2: Global Biodegradable Plastics Market Revenue Million Forecast, by Application 2020 & 2033
- Table 3: Global Biodegradable Plastics Market Revenue Million Forecast, by Region 2020 & 2033
- Table 4: Global Biodegradable Plastics Market Revenue Million Forecast, by Type 2020 & 2033
- Table 5: Global Biodegradable Plastics Market Revenue Million Forecast, by Application 2020 & 2033
- Table 6: Global Biodegradable Plastics Market Revenue Million Forecast, by Country 2020 & 2033
- Table 7: Global Biodegradable Plastics Market Revenue Million Forecast, by Type 2020 & 2033
- Table 8: Global Biodegradable Plastics Market Revenue Million Forecast, by Application 2020 & 2033
- Table 9: Global Biodegradable Plastics Market Revenue Million Forecast, by Country 2020 & 2033
- Table 10: Global Biodegradable Plastics Market Revenue Million Forecast, by Type 2020 & 2033
- Table 11: Global Biodegradable Plastics Market Revenue Million Forecast, by Application 2020 & 2033
- Table 12: Global Biodegradable Plastics Market Revenue Million Forecast, by Country 2020 & 2033
- Table 13: Global Biodegradable Plastics Market Revenue Million Forecast, by Type 2020 & 2033
- Table 14: Global Biodegradable Plastics Market Revenue Million Forecast, by Application 2020 & 2033
- Table 15: Global Biodegradable Plastics Market Revenue Million Forecast, by Country 2020 & 2033
- Table 16: Global Biodegradable Plastics Market Revenue Million Forecast, by Type 2020 & 2033
- Table 17: Global Biodegradable Plastics Market Revenue Million Forecast, by Application 2020 & 2033
- Table 18: Global Biodegradable Plastics Market Revenue Million Forecast, by Country 2020 & 2033
Frequently Asked Questions
1. What is the projected Compound Annual Growth Rate (CAGR) of the Biodegradable Plastics Market?
The projected CAGR is approximately 20.70%.
2. Which companies are prominent players in the Biodegradable Plastics Market?
Key companies in the market include Kruger Inc, Rengo Co Ltd*List Not Exhaustive, DS Smith PLC, Amcor PLC, Mondi PLC, Plastic Suppliers Inc, International Paper Company, Smurfit Kappa Group PLC, Tetra Pak International SA, Klabin SA.
3. What are the main segments of the Biodegradable Plastics Market?
The market segments include Type, Application.
4. Can you provide details about the market size?
The market size is estimated to be USD XX Million as of 2022.
5. What are some drivers contributing to market growth?
; Growing Environmental Concerns Regarding Plastic Pollution; Stringent Regulations by Various Government and Federal Agencies.
6. What are the notable trends driving market growth?
Use of Bioplastics is Stimulating the Market Growth.
7. Are there any restraints impacting market growth?
; High Costs Compared to Normal Plastic.
8. Can you provide examples of recent developments in the market?
N/A
9. What pricing options are available for accessing the report?
Pricing options include single-user, multi-user, and enterprise licenses priced at USD 4750, USD 5250, and USD 8750 respectively.
10. Is the market size provided in terms of value or volume?
The market size is provided in terms of value, measured in Million.
11. Are there any specific market keywords associated with the report?
Yes, the market keyword associated with the report is "Biodegradable Plastics Market," which aids in identifying and referencing the specific market segment covered.
12. How do I determine which pricing option suits my needs best?
The pricing options vary based on user requirements and access needs. Individual users may opt for single-user licenses, while businesses requiring broader access may choose multi-user or enterprise licenses for cost-effective access to the report.
13. Are there any additional resources or data provided in the Biodegradable Plastics Market report?
While the report offers comprehensive insights, it's advisable to review the specific contents or supplementary materials provided to ascertain if additional resources or data are available.
14. How can I stay updated on further developments or reports in the Biodegradable Plastics Market?
To stay informed about further developments, trends, and reports in the Biodegradable Plastics Market, consider subscribing to industry newsletters, following relevant companies and organizations, or regularly checking reputable industry news sources and publications.
Methodology
Step 1 - Identification of Relevant Samples Size from Population Database
Step 2 - Approaches for Defining Global Market Size (Value, Volume* & Price*)
Note*: In applicable scenarios
Step 3 - Data Sources
Primary Research
- Web Analytics
- Survey Reports
- Research Institute
- Latest Research Reports
- Opinion Leaders
Secondary Research
- Annual Reports
- White Paper
- Latest Press Release
- Industry Association
- Paid Database
- Investor Presentations
Step 4 - Data Triangulation
Involves using different sources of information in order to increase the validity of a study
These sources are likely to be stakeholders in a program - participants, other researchers, program staff, other community members, and so on.
Then we put all data in single framework & apply various statistical tools to find out the dynamic on the market.
During the analysis stage, feedback from the stakeholder groups would be compared to determine areas of agreement as well as areas of divergence