Cast Films Market Growth Drivers and Opportunities by 2031
The Cast Films Market is expected to register a CAGR of 6% from 2024 to 2031, with a market size expanding from US$ XX million in 2024 to US$ XX Million by 2031.
Cast Films Market covers analysis By Material (Polyethylene, Polypropylene, Polyamide, Others); Packaging Format (Pouches, Bags, Laminates, Wraps, Labels); End Use Industry (Food and Beverages, Personal Care, Electrical and Electronics, Pharmaceuticals, Industrial, Others), and Geography (North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America). Cast films are made by extruding melted resin horizontally through a flat die to create a sheet of material that is pinned to a highly polished chilled roller by means of an air curtain or vacuum box.
Purpose of the ReportThe report Cast Films 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.
Cast Films Market Segmentation
Material- Polyethylene
- Polypropylene
- Polyamide
- Pouches
- Bags
- Laminates
- Wraps
- Labels
- Food and Beverages
- Personal Care
- Electrical and Electronics
- Pharmaceuticals
- Industrial
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
Strategic Insights
Cast Films Market Growth Drivers- Increased Demand for Flexible Packaging Drives Growth in the Cast Films Market, Especially in the Food and Beverage Sector: The major driver for the growth of the cast films market is increased demand for flexible packaging solutions. Cast films are known for their exceptional strength and clarity and can be conveniently used for packaging purposes in the food and beverage sector due to their versatility.
- Product Line Extensions Focused on High-Quality Cast Films with Enhanced Barrier Properties for Longer Shelf Life and Better Product Integrity: Exploiting this demand is to develop new products, hence product line extension through inclusion of the high quality cast films that respond to special market requirements, perhaps with enhanced barrier properties to moisture, oxygen, and light for longer shelf life and better product integrity.
- Integration of Smart Packaging Technology in Cast Films, Including Sensors for Freshness and Temperature Tracking, is a Growing Trend: The integration of smart packaging technology in cast films is on the present trend. A large number of scholars have proposed the application of sensors and indicators for tracing freshness, temperature, or any other condition. As consumers and businesses continue to advance into interactive and more informative package solutions, the need for smart cast films will certainly increase.
- There is a customizing trend in cast films: The demand here is not just for customized solutions but is bespoke solutions to meet the specific requirements of the customer; otherwise, the product would not be viable at all. This trend is very relevant in sectors such as food packaging, which have very unique specific requirements for barrier properties and aesthetical requirements.
- Advances in manufacturing technologies: New developments and refinements leading to higher durability, barrier properties, and overall quality inputs fuel adoptions of cast films for industrial and labeling applications. The incorporation of nanoparticles such as clays, carbon nanotubes, or graphene into cast films has resulted in materials with enhanced mechanical strength, improved barrier properties, and better resistance to heat, chemicals, and UV radiation. For example, nanocomposite films can exhibit improved tear resistance and enhanced durability while maintaining a lightweight structure.
- Demand for Cast Films Driven by the Food and Beverage Sector, with Growing Preference for Packaged and Convenience Foods: Demand for Cast Films The largest end-use sector driving the demand of cast films is the food and beverage sector. The growing demand for food and beverages, especially packaged and convenience foods, is thus increasing the demand for quality packaging. Cast films provide transparent and flexible packaging, which helps to enhance visibility and appeal at the shelf, an important factor in attracting consumers to buy products.
- Asia-Pacific and Latin America Show Major Growth Potential for Cast Films, Fueled by Industrial Growth and Increased Consumer Spending: The major growth opportunities for cast films are emerging from the Asia-Pacific and Latin America economies. The market for cast films will rise because such regions are attaining rapid industrial growth along with increased consumer expenditure. There will be an increased demand for packaging solutions that are flexible and durable.
- Cast Films in Shipping and Handling Packaging Gain Popularity, Driven by the Rise in Online Shopping and Need for Protection and Visibility: Cast films are picking up in packaging for shipping and handling. They are used for protection as well as product visibility. As online shopping continues to increase, this reliable and attractive packaging will be important to generate demand for cast films.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Cast Films 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 Cast Films 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
This text is related
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
The growing influence of sustainable packaging solutions is an emerging trend in the market.
The rising demand for flexible packaging solutions is a key driver in the market.
Uflex Ltd, Jindal Poly Films Limited, Berry Global, Inc, Scientex Berhad, Winpak Ltd, Intertape Polymer Group Inc., Bemis Company, Inc., RKW Hyplast Nv, Clondalkin Group Holdings BV, and Bischof + Klein SE and Co. KG are some of the key players operating in the market.
The polyethylene material accounted for the largest market share in 2023.
Based on geography, North America held the largest share of the cast films market due to the growing demand for flexible packaging solutions in the region.
The Cast Films 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 Cast Films Market - By Material
1.3.2 Cast Films Market - By Packaging Format
1.3.3 Cast Films Market - By End Use Industry
1.3.4 Cast Films Market - By Region
1.3.4.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. CAST FILMS 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. CAST FILMS 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. CAST FILMS MARKET - GLOBAL MARKET ANALYSIS
6.1. CAST FILMS - GLOBAL MARKET OVERVIEW
6.2. CAST FILMS - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING
7. CAST FILMS MARKET - REVENUE AND FORECASTS TO 2028 - MATERIAL
7.1. OVERVIEW
7.2. MATERIAL MARKET FORECASTS AND ANALYSIS
7.3. POLYETHYLENE
7.3.1. Overview
7.3.2. Polyethylene Market Forecast and Analysis
7.4. POLYPROPYLENE
7.4.1. Overview
7.4.2. Polypropylene Market Forecast and Analysis
7.5. POLYAMIDE
7.5.1. Overview
7.5.2. Polyamide Market Forecast and Analysis
7.6. OTHERS
7.6.1. Overview
7.6.2. Others Market Forecast and Analysis
8. CAST FILMS MARKET - REVENUE AND FORECASTS TO 2028 - PACKAGING FORMAT
8.1. OVERVIEW
8.2. PACKAGING FORMAT MARKET FORECASTS AND ANALYSIS
8.3. POUCHES
8.3.1. Overview
8.3.2. Pouches Market Forecast and Analysis
8.4. BAGS
8.4.1. Overview
8.4.2. Bags Market Forecast and Analysis
8.5. LAMINATES
8.5.1. Overview
8.5.2. Laminates Market Forecast and Analysis
8.6. WRAPS
8.6.1. Overview
8.6.2. Wraps Market Forecast and Analysis
8.7. LABELS
8.7.1. Overview
8.7.2. Labels Market Forecast and Analysis
9. CAST FILMS MARKET - REVENUE AND FORECASTS TO 2028 - END USE INDUSTRY
9.1. OVERVIEW
9.2. END USE INDUSTRY MARKET FORECASTS AND ANALYSIS
9.3. FOOD AND BEVERAGES
9.3.1. Overview
9.3.2. Food and Beverages Market Forecast and Analysis
9.4. PERSONAL CARE
9.4.1. Overview
9.4.2. Personal Care Market Forecast and Analysis
9.5. ELECTRICAL AND ELECTRONICS
9.5.1. Overview
9.5.2. Electrical and Electronics Market Forecast and Analysis
9.6. PHARMACEUTICALS
9.6.1. Overview
9.6.2. Pharmaceuticals Market Forecast and Analysis
9.7. INDUSTRIAL
9.7.1. Overview
9.7.2. Industrial Market Forecast and Analysis
9.8. OTHERS
9.8.1. Overview
9.8.2. Others Market Forecast and Analysis
10. CAST FILMS MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America Cast Films Market Overview
10.1.2 North America Cast Films Market Forecasts and Analysis
10.1.3 North America Cast Films Market Forecasts and Analysis - By Material
10.1.4 North America Cast Films Market Forecasts and Analysis - By Packaging Format
10.1.5 North America Cast Films Market Forecasts and Analysis - By End Use Industry
10.1.6 North America Cast Films Market Forecasts and Analysis - By Countries
10.1.6.1 United States Cast Films Market
10.1.6.1.1 United States Cast Films Market by Material
10.1.6.1.2 United States Cast Films Market by Packaging Format
10.1.6.1.3 United States Cast Films Market by End Use Industry
10.1.6.2 Canada Cast Films Market
10.1.6.2.1 Canada Cast Films Market by Material
10.1.6.2.2 Canada Cast Films Market by Packaging Format
10.1.6.2.3 Canada Cast Films Market by End Use Industry
10.1.6.3 Mexico Cast Films Market
10.1.6.3.1 Mexico Cast Films Market by Material
10.1.6.3.2 Mexico Cast Films Market by Packaging Format
10.1.6.3.3 Mexico Cast Films Market by End Use Industry
10.2. EUROPE
10.2.1 Europe Cast Films Market Overview
10.2.2 Europe Cast Films Market Forecasts and Analysis
10.2.3 Europe Cast Films Market Forecasts and Analysis - By Material
10.2.4 Europe Cast Films Market Forecasts and Analysis - By Packaging Format
10.2.5 Europe Cast Films Market Forecasts and Analysis - By End Use Industry
10.2.6 Europe Cast Films Market Forecasts and Analysis - By Countries
10.2.6.1 Germany Cast Films Market
10.2.6.1.1 Germany Cast Films Market by Material
10.2.6.1.2 Germany Cast Films Market by Packaging Format
10.2.6.1.3 Germany Cast Films Market by End Use Industry
10.2.6.2 France Cast Films Market
10.2.6.2.1 France Cast Films Market by Material
10.2.6.2.2 France Cast Films Market by Packaging Format
10.2.6.2.3 France Cast Films Market by End Use Industry
10.2.6.3 Italy Cast Films Market
10.2.6.3.1 Italy Cast Films Market by Material
10.2.6.3.2 Italy Cast Films Market by Packaging Format
10.2.6.3.3 Italy Cast Films Market by End Use Industry
10.2.6.4 United Kingdom Cast Films Market
10.2.6.4.1 United Kingdom Cast Films Market by Material
10.2.6.4.2 United Kingdom Cast Films Market by Packaging Format
10.2.6.4.3 United Kingdom Cast Films Market by End Use Industry
10.2.6.5 Russia Cast Films Market
10.2.6.5.1 Russia Cast Films Market by Material
10.2.6.5.2 Russia Cast Films Market by Packaging Format
10.2.6.5.3 Russia Cast Films Market by End Use Industry
10.2.6.6 Rest of Europe Cast Films Market
10.2.6.6.1 Rest of Europe Cast Films Market by Material
10.2.6.6.2 Rest of Europe Cast Films Market by Packaging Format
10.2.6.6.3 Rest of Europe Cast Films Market by End Use Industry
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific Cast Films Market Overview
10.3.2 Asia-Pacific Cast Films Market Forecasts and Analysis
10.3.3 Asia-Pacific Cast Films Market Forecasts and Analysis - By Material
10.3.4 Asia-Pacific Cast Films Market Forecasts and Analysis - By Packaging Format
10.3.5 Asia-Pacific Cast Films Market Forecasts and Analysis - By End Use Industry
10.3.6 Asia-Pacific Cast Films Market Forecasts and Analysis - By Countries
10.3.6.1 Australia Cast Films Market
10.3.6.1.1 Australia Cast Films Market by Material
10.3.6.1.2 Australia Cast Films Market by Packaging Format
10.3.6.1.3 Australia Cast Films Market by End Use Industry
10.3.6.2 China Cast Films Market
10.3.6.2.1 China Cast Films Market by Material
10.3.6.2.2 China Cast Films Market by Packaging Format
10.3.6.2.3 China Cast Films Market by End Use Industry
10.3.6.3 India Cast Films Market
10.3.6.3.1 India Cast Films Market by Material
10.3.6.3.2 India Cast Films Market by Packaging Format
10.3.6.3.3 India Cast Films Market by End Use Industry
10.3.6.4 Japan Cast Films Market
10.3.6.4.1 Japan Cast Films Market by Material
10.3.6.4.2 Japan Cast Films Market by Packaging Format
10.3.6.4.3 Japan Cast Films Market by End Use Industry
10.3.6.5 South Korea Cast Films Market
10.3.6.5.1 South Korea Cast Films Market by Material
10.3.6.5.2 South Korea Cast Films Market by Packaging Format
10.3.6.5.3 South Korea Cast Films Market by End Use Industry
10.3.6.6 Rest of Asia-Pacific Cast Films Market
10.3.6.6.1 Rest of Asia-Pacific Cast Films Market by Material
10.3.6.6.2 Rest of Asia-Pacific Cast Films Market by Packaging Format
10.3.6.6.3 Rest of Asia-Pacific Cast Films Market by End Use Industry
10.4. MIDDLE EAST AND AFRICA
10.4.1 Middle East and Africa Cast Films Market Overview
10.4.2 Middle East and Africa Cast Films Market Forecasts and Analysis
10.4.3 Middle East and Africa Cast Films Market Forecasts and Analysis - By Material
10.4.4 Middle East and Africa Cast Films Market Forecasts and Analysis - By Packaging Format
10.4.5 Middle East and Africa Cast Films Market Forecasts and Analysis - By End Use Industry
10.4.6 Middle East and Africa Cast Films Market Forecasts and Analysis - By Countries
10.4.6.1 South Africa Cast Films Market
10.4.6.1.1 South Africa Cast Films Market by Material
10.4.6.1.2 South Africa Cast Films Market by Packaging Format
10.4.6.1.3 South Africa Cast Films Market by End Use Industry
10.4.6.2 Saudi Arabia Cast Films Market
10.4.6.2.1 Saudi Arabia Cast Films Market by Material
10.4.6.2.2 Saudi Arabia Cast Films Market by Packaging Format
10.4.6.2.3 Saudi Arabia Cast Films Market by End Use Industry
10.4.6.3 U.A.E Cast Films Market
10.4.6.3.1 U.A.E Cast Films Market by Material
10.4.6.3.2 U.A.E Cast Films Market by Packaging Format
10.4.6.3.3 U.A.E Cast Films Market by End Use Industry
10.4.6.4 Rest of Middle East and Africa Cast Films Market
10.4.6.4.1 Rest of Middle East and Africa Cast Films Market by Material
10.4.6.4.2 Rest of Middle East and Africa Cast Films Market by Packaging Format
10.4.6.4.3 Rest of Middle East and Africa Cast Films Market by End Use Industry
10.5. SOUTH AND CENTRAL AMERICA
10.5.1 South and Central America Cast Films Market Overview
10.5.2 South and Central America Cast Films Market Forecasts and Analysis
10.5.3 South and Central America Cast Films Market Forecasts and Analysis - By Material
10.5.4 South and Central America Cast Films Market Forecasts and Analysis - By Packaging Format
10.5.5 South and Central America Cast Films Market Forecasts and Analysis - By End Use Industry
10.5.6 South and Central America Cast Films Market Forecasts and Analysis - By Countries
10.5.6.1 Brazil Cast Films Market
10.5.6.1.1 Brazil Cast Films Market by Material
10.5.6.1.2 Brazil Cast Films Market by Packaging Format
10.5.6.1.3 Brazil Cast Films Market by End Use Industry
10.5.6.2 Argentina Cast Films Market
10.5.6.2.1 Argentina Cast Films Market by Material
10.5.6.2.2 Argentina Cast Films Market by Packaging Format
10.5.6.2.3 Argentina Cast Films Market by End Use Industry
10.5.6.3 Rest of South and Central America Cast Films Market
10.5.6.3.1 Rest of South and Central America Cast Films Market by Material
10.5.6.3.2 Rest of South and Central America Cast Films Market by Packaging Format
10.5.6.3.3 Rest of South and Central America Cast Films Market by End Use Industry
11. INDUSTRY LANDSCAPE
11.1. MERGERS AND ACQUISITIONS
11.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
11.3. NEW PRODUCT LAUNCHES
11.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
12. CAST FILMS MARKET, KEY COMPANY PROFILES
12.1. UFLEX LTD.
12.1.1. Key Facts
12.1.2. Business Description
12.1.3. Products and Services
12.1.4. Financial Overview
12.1.5. SWOT Analysis
12.1.6. Key Developments
12.2. JINDAL POLY FILMS LIMITED
12.2.1. Key Facts
12.2.2. Business Description
12.2.3. Products and Services
12.2.4. Financial Overview
12.2.5. SWOT Analysis
12.2.6. Key Developments
12.3. BERRY GLOBAL, INC.
12.3.1. Key Facts
12.3.2. Business Description
12.3.3. Products and Services
12.3.4. Financial Overview
12.3.5. SWOT Analysis
12.3.6. Key Developments
12.4. SCIENTEX BERHAD
12.4.1. Key Facts
12.4.2. Business Description
12.4.3. Products and Services
12.4.4. Financial Overview
12.4.5. SWOT Analysis
12.4.6. Key Developments
12.5. WINPAK LTD.
12.5.1. Key Facts
12.5.2. Business Description
12.5.3. Products and Services
12.5.4. Financial Overview
12.5.5. SWOT Analysis
12.5.6. Key Developments
12.6. INTERTAPE POLYMER GROUP INC.
12.6.1. Key Facts
12.6.2. Business Description
12.6.3. Products and Services
12.6.4. Financial Overview
12.6.5. SWOT Analysis
12.6.6. Key Developments
12.7. BEMIS COMPANY, INC.
12.7.1. Key Facts
12.7.2. Business Description
12.7.3. Products and Services
12.7.4. Financial Overview
12.7.5. SWOT Analysis
12.7.6. Key Developments
12.8. RKW HYPLAST NV
12.8.1. Key Facts
12.8.2. Business Description
12.8.3. Products and Services
12.8.4. Financial Overview
12.8.5. SWOT Analysis
12.8.6. Key Developments
12.9. CLONDALKIN GROUP HOLDINGS BV
12.9.1. Key Facts
12.9.2. Business Description
12.9.3. Products and Services
12.9.4. Financial Overview
12.9.5. SWOT Analysis
12.9.6. Key Developments
12.10. BISCHOF + KLEIN SE AND CO. KG
12.10.1. Key Facts
12.10.2. Business Description
12.10.3. Products and Services
12.10.4. Financial Overview
12.10.5. SWOT Analysis
12.10.6. Key Developments
13. APPENDIX
13.1. ABOUT THE INSIGHT PARTNERS
13.2. GLOSSARY OF TERMS
1. Uflex Ltd.
2. Jindal Poly Films Limited
3. Berry Global, Inc.
4. Scientex Berhad
5. Winpak Ltd.
6. Intertape Polymer Group Inc.
7. Bemis Company, Inc.
8. RKW Hyplast Nv
9. Clondalkin Group Holdings BV
10. Bischof + Klein SE and Co. KG
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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