Food Processing Seals Market Opportunities 2031
The food processing seals market is expected to register a CAGR of around 3% during 2023–2031. Rising demand for packaged goods and beverages is likely to remain a key trend in the market.
Food Processing Seals Market Analysis
- As the population soars and the developing world demands more processed and packaged foods, equipment for food processing will have to become more efficient, hygienic, and reliable, and, therefore, more of a driver for high-performance seals.
- Technological innovations will be the major factor driving the trajectory of this market, with manufacturers investing heavily in RD to develop new sealing solutions to cater to the new needs of the market.
- More widely, we have seen the integration of smart technologies and IoT-enabled sensors into sealing systems, which can monitor the seal performance in real time, facilitate predictive maintenance and, ultimately, enhance the overall operational efficiency of food processing facilities. Such development aligns with the principles of Industry 4.0, which, as a result, will lead to the development of more advanced, self-diagnostic sealing solutions with the ability to alert operators before a failure occurs, avoiding expensive downtime and product contamination.
Food Processing Seals Market Overview
- The food processing seals market has witnessed a healthy growth over the past few years due to a rise in demand for processed and packaged food products around the world.
- In response to increased food-safety standards and more hygiene-conscious consumers, high-quality, reliable seals have been implemented in more and more equipment used in food processing, not only to prevent contamination but also to ensure the quality of products and the efficacy of processing machines across the different food-processing sectors.
- The seal market, which includes O-rings, gaskets, lip seals, mechanical seals, and other types, is one of the most diverse in food processing, as each type must be carefully designed to suit specific requirements and applications.
- Manufacturers are tirelessly developing seals that can withstand high temperatures, caustic cleaners, high pressures and other common operating conditions of food and pharmaceutical plants.
- At the same time, as more food processing and packaging moves from handmade crafts to high-speed automated equipment, seal manufacturers are being challenged to create products that can be easily fitted or integrated into modern processing equipment. The trend toward CIP and SIP in food processing plants is also increasing demand for seals that can withstand these cleaning processes.
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Food Processing Seals Market: Strategic Insights
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Customize Research To Suit Your Requirement
We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.
Food Processing Seals Market: Strategic Insights
Shejal
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Shejal will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.
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Food Processing Seals Market Drivers and Opportunities
Growing Demand for Processed and Convenience Foods Drives Food Processing Seals Market
- Increasing demand for processed food and convenient food is expected to be one of the major drivers for the food processing seals market, and this is expected to propel the market growth and innovation in the industry.
- As urbanization swells globally and lifestyles become fast-paced, consumers are increasingly seeking ready-to-eat meals, packaged snacks and convenience foods that provide time-saving solutions for meals and snacks while maintaining taste and nutrition.
- With the rise of processed and convenience foods, volumes are expected to grow, and the food itself must be more highly processed and durable, so even more sophisticated sealing systems are required.
- The ability to seal effectively is crucial for food manufacturers who are constantly working to extend product shelf life, maintain freshness and improve safety standards in processing equipment.
- Modern food processing machines can be exposed to multiple conditions: they can be subjected to high temperatures during cooking and sterilization and to low temperatures during freezing and packaging. All these conditions require seals that withstand extreme temperatures, resist chemical degradation, and are still functional at very high pressure.
Technological Developments in Sealing Materials
- The increasing technological developments in sealing materials drive the food processing seals market. This results in unparalleled opportunities for efficiency, innovation, and performance enhancement.
- The significance of advanced sealing materials is becoming increasingly crucial in the developing food processing sector, driven by demands for greater food safety, increased efficiency, and environmentally friendly operations.
- Nanotechnology is one of the most attractive areas with enormous potential for the food processing seals market. For instance, shape memory polymers and self-healing materials are being studied for their ability to build seals that can adapt to varied pressures and temperatures and repair small damage autonomously, considerably increasing their lifespan and decreasing maintenance downtime.
Food Processing Seals Market Report Segmentation Analysis
Key segments that contributed to the derivation of the food processing seals market analysis are material and application.
- On the basis of material, the market is segmented into metals, face materials, elastomers, and others.
- Based on application, the market is bifurcated into bakery and confectionery, meat poultry and seafood, dairy products, beverages, and others.
Food Processing Seals Market Share Analysis by Geography
- Food Processing Seals Market Report comprises a detailed analysis of five major geographic regions, which includes current and historical market size and forecasts for 2021 to 2031, covering North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA), and South & Central America.
- Each region is further sub-segmented into respective countries. This report provides analysis and forecasts of 18+ countries, covering food processing seals market dynamics such as drivers, trends, and opportunities that are impacting the markets at the regional level.
- Also, the report covers Porter's analysis, which involves the study of major factors that influence the food processing seals market in these regions.
Food Processing Seals Market Report Scope
Food Processing Seals Market News and Recent Development
The food processing seals market is evaluated by gathering the qualitative and quantitative data post primary and secondary research, which include important corporate publication, association data, and database. The few developments in the food processing seals market are listed below:
- Global packaging provider Eviosys has introduced ‘Ecopeel’, a new metal food can packaging solution featuring a peelable foil seal. The foil is directly sealed onto the body of the can and replaces the conventionally used ring-pull opening mechanism. This peelable seal is expected to minimise up to 20% of the overall carbon footprint produced per can. The Ecopeel solution is easy to open and has a 45-degree sealing surface, which means less force is required to open the can. (Source: Verdict Media Limited, News, June 2023)
Food Processing Seals Market Report Coverage and Deliverables
The " Food Processing Seals Market Size and Forecast (2021–2031)" report provides a detailed analysis of the market covering below areas:
- Food processing seals market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Food processing seals market trends as well as market dynamics such as drivers, restraints, and key opportunities
- Detailed PEST/Porter's Five Forces and SWOT analysis
- Food processing seals market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the food processing seals market
- Detailed company profiles
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
This text is related
to country scope.
Frequently Asked Questions
The global food processing seals market is expected to grow at a CAGR of 3% during the forecast period 2023 - 2031.
Growing demand for processed and convenience foods is one of the major factors driving the food processing seals market.
Rising demand for packaged goods and beverages is anticipated to play a significant role in the global food processing seals market in the coming years.
The leading players operating in the food processing seals market are Garlock (EnPro Industries), Freudenberg Sealing Technologies, Trelleborg Sealing Solutions, SKF, Parker Hannifin Corporation, John Crane (Smiths Group), EagleBurgmann, Flowserve Corporation, James Walker, A.W. Chesterton Company, Bal Seal Engineering, Vulcan Seals, Aesseal, Meccanotecnica Umbra, and Flexitallic.
The report can be delivered in PDF/PPT format; we can also share excel dataset based on the request.
Some of the customization options available based on request are additional 3–5 company profiles and country-specific analysis of 3–5 countries of your choice. Customizations are to be requested/discussed before making final order confirmation, as our team would review the same and check the feasibility.
TABLE OF CONTENTS
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Food Processing Seals Market - By Material Type
1.3.2 Food Processing Seals Market - By Application
1.3.3 Food Processing Seals Market - By Region
1.3.3.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. FOOD PROCESSING SEALS 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. FOOD PROCESSING SEALS 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, RESTRAINTS & EXPECTED INFLUENCE OF COVID-19 PANDEMIC
6. FOOD PROCESSING SEALS MARKET - GLOBAL MARKET ANALYSIS
6.1. FOOD PROCESSING SEALS - GLOBAL MARKET OVERVIEW
6.2. FOOD PROCESSING SEALS - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. FOOD PROCESSING SEALS MARKET - REVENUE AND FORECASTS TO 2028 - MATERIAL TYPE
7.1. OVERVIEW
7.2. MATERIAL TYPE MARKET FORECASTS AND ANALYSIS
7.3. METALS
7.3.1. Overview
7.3.2. Metals Market Forecast and Analysis
7.4. FACE MATERIALS
7.4.1. Overview
7.4.2. Face Materials Market Forecast and Analysis
7.5. ELASTOMERS
7.5.1. Overview
7.5.2. Elastomers Market Forecast and Analysis
7.6. OTHERS
7.6.1. Overview
7.6.2. Others Market Forecast and Analysis
8. FOOD PROCESSING SEALS MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
8.1. OVERVIEW
8.2. APPLICATION MARKET FORECASTS AND ANALYSIS
8.3. BAKERY AND CONFECTIONERY
8.3.1. Overview
8.3.2. Bakery and Confectionery Market Forecast and Analysis
8.4. MEAT POULTRY AND SEAFOOD
8.4.1. Overview
8.4.2. Meat Poultry and Seafood Market Forecast and Analysis
8.5. DAIRY PRODUCTS
8.5.1. Overview
8.5.2. Dairy Products Market Forecast and Analysis
8.6. ALCOHOLIC BEVERAGE
8.6.1. Overview
8.6.2. Alcoholic Beverage Market Forecast and Analysis
8.7. NON-ALCOHOLIC BEVERAGE
8.7.1. Overview
8.7.2. Non-Alcoholic Beverage Market Forecast and Analysis
8.8. OTHERS
8.8.1. Overview
8.8.2. Others Market Forecast and Analysis
9. FOOD PROCESSING SEALS MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
9.1. NORTH AMERICA
9.1.1 North America Food Processing Seals Market Overview
9.1.2 North America Food Processing Seals Market Forecasts and Analysis
9.1.3 North America Food Processing Seals Market Forecasts and Analysis - By Material Type
9.1.4 North America Food Processing Seals Market Forecasts and Analysis - By Application
9.1.5 North America Food Processing Seals Market Forecasts and Analysis - By Countries
9.1.5.1 United States Food Processing Seals Market
9.1.5.1.1 United States Food Processing Seals Market by Material Type
9.1.5.1.2 United States Food Processing Seals Market by Application
9.1.5.2 Canada Food Processing Seals Market
9.1.5.2.1 Canada Food Processing Seals Market by Material Type
9.1.5.2.2 Canada Food Processing Seals Market by Application
9.1.5.3 Mexico Food Processing Seals Market
9.1.5.3.1 Mexico Food Processing Seals Market by Material Type
9.1.5.3.2 Mexico Food Processing Seals Market by Application
9.2. EUROPE
9.2.1 Europe Food Processing Seals Market Overview
9.2.2 Europe Food Processing Seals Market Forecasts and Analysis
9.2.3 Europe Food Processing Seals Market Forecasts and Analysis - By Material Type
9.2.4 Europe Food Processing Seals Market Forecasts and Analysis - By Application
9.2.5 Europe Food Processing Seals Market Forecasts and Analysis - By Countries
9.2.5.1 Germany Food Processing Seals Market
9.2.5.1.1 Germany Food Processing Seals Market by Material Type
9.2.5.1.2 Germany Food Processing Seals Market by Application
9.2.5.2 France Food Processing Seals Market
9.2.5.2.1 France Food Processing Seals Market by Material Type
9.2.5.2.2 France Food Processing Seals Market by Application
9.2.5.3 Italy Food Processing Seals Market
9.2.5.3.1 Italy Food Processing Seals Market by Material Type
9.2.5.3.2 Italy Food Processing Seals Market by Application
9.2.5.4 United Kingdom Food Processing Seals Market
9.2.5.4.1 United Kingdom Food Processing Seals Market by Material Type
9.2.5.4.2 United Kingdom Food Processing Seals Market by Application
9.2.5.5 Russia Food Processing Seals Market
9.2.5.5.1 Russia Food Processing Seals Market by Material Type
9.2.5.5.2 Russia Food Processing Seals Market by Application
9.2.5.6 Rest of Europe Food Processing Seals Market
9.2.5.6.1 Rest of Europe Food Processing Seals Market by Material Type
9.2.5.6.2 Rest of Europe Food Processing Seals Market by Application
9.3. ASIA-PACIFIC
9.3.1 Asia-Pacific Food Processing Seals Market Overview
9.3.2 Asia-Pacific Food Processing Seals Market Forecasts and Analysis
9.3.3 Asia-Pacific Food Processing Seals Market Forecasts and Analysis - By Material Type
9.3.4 Asia-Pacific Food Processing Seals Market Forecasts and Analysis - By Application
9.3.5 Asia-Pacific Food Processing Seals Market Forecasts and Analysis - By Countries
9.3.5.1 Australia Food Processing Seals Market
9.3.5.1.1 Australia Food Processing Seals Market by Material Type
9.3.5.1.2 Australia Food Processing Seals Market by Application
9.3.5.2 China Food Processing Seals Market
9.3.5.2.1 China Food Processing Seals Market by Material Type
9.3.5.2.2 China Food Processing Seals Market by Application
9.3.5.3 India Food Processing Seals Market
9.3.5.3.1 India Food Processing Seals Market by Material Type
9.3.5.3.2 India Food Processing Seals Market by Application
9.3.5.4 Japan Food Processing Seals Market
9.3.5.4.1 Japan Food Processing Seals Market by Material Type
9.3.5.4.2 Japan Food Processing Seals Market by Application
9.3.5.5 South Korea Food Processing Seals Market
9.3.5.5.1 South Korea Food Processing Seals Market by Material Type
9.3.5.5.2 South Korea Food Processing Seals Market by Application
9.3.5.6 Rest of Asia-Pacific Food Processing Seals Market
9.3.5.6.1 Rest of Asia-Pacific Food Processing Seals Market by Material Type
9.3.5.6.2 Rest of Asia-Pacific Food Processing Seals Market by Application
9.4. MIDDLE EAST AND AFRICA
9.4.1 Middle East and Africa Food Processing Seals Market Overview
9.4.2 Middle East and Africa Food Processing Seals Market Forecasts and Analysis
9.4.3 Middle East and Africa Food Processing Seals Market Forecasts and Analysis - By Material Type
9.4.4 Middle East and Africa Food Processing Seals Market Forecasts and Analysis - By Application
9.4.5 Middle East and Africa Food Processing Seals Market Forecasts and Analysis - By Countries
9.4.5.1 South Africa Food Processing Seals Market
9.4.5.1.1 South Africa Food Processing Seals Market by Material Type
9.4.5.1.2 South Africa Food Processing Seals Market by Application
9.4.5.2 Saudi Arabia Food Processing Seals Market
9.4.5.2.1 Saudi Arabia Food Processing Seals Market by Material Type
9.4.5.2.2 Saudi Arabia Food Processing Seals Market by Application
9.4.5.3 U.A.E Food Processing Seals Market
9.4.5.3.1 U.A.E Food Processing Seals Market by Material Type
9.4.5.3.2 U.A.E Food Processing Seals Market by Application
9.4.5.4 Rest of Middle East and Africa Food Processing Seals Market
9.4.5.4.1 Rest of Middle East and Africa Food Processing Seals Market by Material Type
9.4.5.4.2 Rest of Middle East and Africa Food Processing Seals Market by Application
9.5. SOUTH AND CENTRAL AMERICA
9.5.1 South and Central America Food Processing Seals Market Overview
9.5.2 South and Central America Food Processing Seals Market Forecasts and Analysis
9.5.3 South and Central America Food Processing Seals Market Forecasts and Analysis - By Material Type
9.5.4 South and Central America Food Processing Seals Market Forecasts and Analysis - By Application
9.5.5 South and Central America Food Processing Seals Market Forecasts and Analysis - By Countries
9.5.5.1 Brazil Food Processing Seals Market
9.5.5.1.1 Brazil Food Processing Seals Market by Material Type
9.5.5.1.2 Brazil Food Processing Seals Market by Application
9.5.5.2 Argentina Food Processing Seals Market
9.5.5.2.1 Argentina Food Processing Seals Market by Material Type
9.5.5.2.2 Argentina Food Processing Seals Market by Application
9.5.5.3 Rest of South and Central America Food Processing Seals Market
9.5.5.3.1 Rest of South and Central America Food Processing Seals Market by Material Type
9.5.5.3.2 Rest of South and Central America Food Processing Seals 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. FOOD PROCESSING SEALS MARKET, KEY COMPANY PROFILES
11.1. A. W. CHESTERTON COMPANY INC.
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. AB SKF
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. AESSEAL INDIA PRIVATE LIMITED
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. IDEX CORPORATION
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. JAMES WALKER AND CO.
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. MECCANOTECNICA UMBRA S.P.A
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. PRECISION ASSOCIATES, INC.
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. THE FLOWSERVE CORPORATION
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 FREUDENBERG GROUP
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. TRELLEBORG GROUP
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
The List of Companies
1.A. W. Chesterton Company Inc.
2.AB SKF
3.AESSEAL India Private Limited
4.IDEX Corporation
5.James Walker and Co.
6.Meccanotecnica Umbra S.p.A
7.Precision Associates, Inc.
8.The Flowserve Corporation
9.The Freudenberg Group
10.Trelleborg Group
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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