Research Methodology on Bio-based PET Market
Introduction
Bio-based PET (polyethylene terephthalate) is a type of material derived from renewable waste sources such as paper sludge, wood pulp, sugarcane, and vegetable oils. It is used for various applications such as packaging, containers, and more. It is an eco-friendly alternative to PET and is a recipient of multiple government incentives. Its upsurge in usage is driven by high consumer awareness concerning environmental hazards and the rising inclination towards biodegradable packaging in the food & beverage industry.
The Global Bio-based PET Market Report, compiled by Market Research Future (MRFR), is a comprehensive synopsis of the market performance in terms of market valuation, market size, market growth drivers, market opportunities, market restraints, and competitive landscape. The report provides actionable market insights for the growth of the market during 2023 to 2030.
Research Methodology
The research and analysis undertaken to derive actionable insights on the performance of the bio-based PET market are based on the “Objective Paradigm”. The objective paradigm refers to the guidelines and methodologies used to approach a particular research question on any subject, to draw valid and reliable conclusions, and to create reliable and pertinent information on the topic. The objective paradigm employed for the research on the bio-based PET market has been based on secondary and primary research techniques, with time-series analysis, factor analysis, top-down approach, and bottom-up approach used for deriving complementing perspectives of the market.
Secondary Research
Secondary research, which involves the excavation of publicly available information through various sources, has been the first stage of the research methodology employed in the research about the Bio-based PET market. Sources of secondary research included periodicals related to the market, industry-based white papers, financial reports, SWOT analyses, competitor and industry analysis reports, annual reports, etc. Reference databases such as the World Bank database, EUROSTAT databases, D&B Hoover's databases, the International Trade Centre (ITC, International Organisation of Biological Control (IOBC), and the Global Production Data (GDP) were also used for the research of the Bio-based PET market.
Primary Research
To obtain reliable insights about the Bio-based PET market, primary research avenues were undertaken. Primary research includes surveys, interviews, questionnaires, and initial market research studies. Interviews were conducted with the help of decision-making persons from top-tier organizations and executives in the industry. The survey provides actionable statistics with regard to the market and aids in the collation of reliable market information based on interviews.
Data Triangulation
The collected data was triangulated based on demand and supply side data. Demand-side data was acquired from surveys and interviews and was further derived from the customer perspective in the form of market attractiveness. This was further triangulated with supply-side data, in the form of surveys and interviews of the leading companies and organizations for the market, assessing their contribution to the Global Bio-based PET market and the efficiency in the industry.
Factor Analysis
Factors impacting the market, such as drivers, opportunities, restraints, and challenges, were analyzed to have complete control over the market in terms of trends, technologies, products, profits, pricing, strategies, and growth rate. Factor analysis is a process where the statistical output is observed about the above factors for a real and detailed perspective of the market performance.
Time-Series Analysis
Time-series analysis provides information related to the evolution of the market and aids in predicting the growth of the market accordingly. Historical data related to the previous performance of the market was collated to predict the growth trajectory of the market. Time-series analysis was also used to observe the fluctuation of the market more acutely in terms of market trends and approaches used by the leading players.
Top-Down & Bottom-Up Approach
Top-down and bottom-up approaches were also employed in the research to deliver a holistic perspective of the Global Bio-based PET market. The top-down approach offers useful data regarding the market’s dynamics and data related to macroeconomic factors such as approximate market value, market statistics related to shares, revenue, consumption rate, and growth rate, which enables the readers to understand the overall market structure more efficiently. The bottom-up approach concentrates on individual market growth, which is further aggregated, to provide a global market scenario.
Conclusion
The Market Research Future report on “Global Bio-based PET Market Report” offers comprehensive coverage of the market, providing actionable insights obtained from market-specific research. The research methodology employed for the research includes but is not limited to, secondary and primary research, time-series analysis, factor analysis, bottom-up and top-down approach, and demand-side and supply-side data triangulation. The report obtained from the research provides reliable and useful information on the global bio-based PET market with concrete insights on the market that help in making informed business decisions.
