Rigid Plastic Packaging Market Developments by 2031
The Rigid Plastic Packaging Market is expected to register a CAGR of 5% from 2023 to 2031, with a market size expanding from US$ XX million in 2023 to US$ XX Million by 2031.
Rigid Plastic Packaging Market covers analysis by Material (Polystyrene (PS), Polyethylene Terephthalate (PET), Polyethylene (PE), Polypropylene (PP), Others); End-user (Food and Beverage, Personal Care, Household, Healthcare, Others), and Geography (North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America). The demand for rigid plastic packaging has been increasing in recent years due to several factors, including the increasing demand for sustainable packaging solutions and the benefits of rigid plastic packaging. Consumers and manufacturers are becoming increasingly concerned about reducing their environmental footprint, leading to a growing demand for eco-friendly packaging, such as rigid plastic packaging made from recycled materials.
Purpose of the ReportThe report Rigid Plastic Packaging 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.
Rigid Plastic Packaging Market Segmentation
Material- Polystyrene
- Food and Beverage
- Personal Care
- Household
- Healthcare
- Others
Strategic Insights
Rigid Plastic Packaging Market Growth Drivers- Consumer Demand for Convenient Packaging Solutions: The rigid plastic packaging market is being driven by consumer demand for lightweight, durable, and convenient packaging for products in various sectors, including food and beverages, cosmetics, and household goods. Rigid plastic packaging offers superior protection against physical damage, extends shelf life, and improves product visibility, making it a popular choice among manufacturers.
- Growth of E-commerce and Online Retailing: The surge in e-commerce has significantly impacted packaging demand. Rigid plastic packaging is favored for its ability to protect products during shipping and handling. With online retail continuing to grow globally, the demand for durable, tamper-proof, and cost-effective packaging solutions is driving the expansion of the rigid plastic packaging market.
- Sustainability and Recycling Initiatives: As sustainability becomes a key concern, there is increasing pressure on packaging manufacturers to produce recyclable and reusable materials. Innovations in rigid plastic packaging, such as the use of recycled plastics and the development of biodegradable alternatives, are opening new opportunities. Many companies are now focusing on reducing their carbon footprint, which is boosting demand for eco-friendly rigid plastic packaging.
- Increased Focus on Recyclability and Circular Economy: A key future trend in the rigid plastic packaging market will be the shift toward greater recyclability and the circular economy model. Companies are investing in technologies to create packaging that is easier to recycle and reuse. This trend is being driven by stricter regulations on waste management and increasing consumer demand for sustainable packaging solutions.
- Growth in E-commerce and Direct-to-Consumer Packaging: The growth of e-commerce will drive the demand for rigid plastic packaging, particularly for shipping products that need durable protection during transit. Rigid plastic is favored for its ability to withstand rough handling and preserve product integrity, making it a staple for packaging in the e-commerce sector.
- Innovation in Bioplastics and Sustainable Materials: In response to environmental concerns, the rigid plastic packaging market is seeing innovation in bioplastics and other sustainable materials. The development of bioplastics that offer the same durability as conventional plastics but have a lower environmental impact is expected to grow. This trend will help manufacturers meet the growing demand for eco-friendly alternatives to traditional rigid plastic packaging.
- Consumer Demand for Sustainable and Recyclable Packaging: As consumers become more environmentally conscious, there is growing demand for sustainable and recyclable packaging solutions. Rigid plastic packaging manufacturers are focusing on producing more recyclable or biodegradable packaging, offering substantial market opportunities for companies that invest in these sustainable solutions and meet the increasing consumer preference for eco-friendly packaging.
- Innovation in Smart Packaging Solutions: The rise of smart packaging technology, including packaging with embedded sensors to monitor freshness, temperature, or quality, presents a significant opportunity for the rigid plastic packaging market. This technology is particularly beneficial in industries such as food and beverages, pharmaceuticals, and cosmetics, where product integrity is critical. Companies that integrate these technologies into their packaging solutions can capture new market segments.
- Growth in the E-commerce Sector: The rapid growth of online shopping presents an opportunity for rigid plastic packaging, particularly for shipping and logistics. As more products are sold online, the demand for durable, tamper-proof, and lightweight packaging that can withstand shipping conditions increases. Rigid plastics offer protection and convenience, and the growth of e-commerce will likely drive demand for innovative packaging solutions.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Rigid Plastic Packaging 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 Rigid Plastic Packaging 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.
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- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
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 Rigid Plastic Packaging Market is estimated to witness a CAGR of 5% from 2023 to 2031
Consumer demand for convenient packaging solutions is driving the rigid plastic packaging market growth
ALPLA Werke Alwin Lehner GmbH and Co KG, Amcor Plc, Berry Global Group Inc., DS Smith Plc, Klöckner Pentaplast Group, Plastipak Holdings, Inc., Reynolds Group Holdings Limited, RPC Group Plc, Silgan Holdings Inc., and Sonoco Products Company are some of the key players in the market.
The polystyrene material accounted for the largest market share in 2023
The Asia Pacific market is expected to account for the highest CAGR during the forecast period owing to the growing food and beverage industry in the region.
Increased focus on recyclability and circular economy is an emerging trend in the market
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 Rigid Plastic Packaging Market - By Material
1.3.2 Rigid Plastic Packaging Market - By End-user
1.3.3 Rigid Plastic Packaging Market - By Region
1.3.3.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. RIGID PLASTIC PACKAGING 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. ECOSYSTEM ANALYSIS
4.4. EXPERT OPINIONS
5. RIGID PLASTIC PACKAGING 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. RIGID PLASTIC PACKAGING MARKET - GLOBAL MARKET ANALYSIS
6.1. RIGID PLASTIC PACKAGING - GLOBAL MARKET OVERVIEW
6.2. RIGID PLASTIC PACKAGING - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. RIGID PLASTIC PACKAGING MARKET - REVENUE AND FORECASTS TO 2028 - MATERIAL
7.1. OVERVIEW
7.2. MATERIAL MARKET FORECASTS AND ANALYSIS
7.3. POLYSTYRENE (PS)
7.3.1. Overview
7.3.2. Polystyrene (PS) Market Forecast and Analysis
7.4. POLYETHYLENE TEREPHTHALATE (PET)
7.4.1. Overview
7.4.2. Polyethylene Terephthalate (PET) Market Forecast and Analysis
7.5. POLYETHYLENE (PE)
7.5.1. Overview
7.5.2. Polyethylene (PE) Market Forecast and Analysis
7.6. POLYPROPYLENE (PP)
7.6.1. Overview
7.6.2. Polypropylene (PP) Market Forecast and Analysis
7.7. OTHERS
7.7.1. Overview
7.7.2. Others Market Forecast and Analysis
8. RIGID PLASTIC PACKAGING MARKET - REVENUE AND FORECASTS TO 2028 - END-USER
8.1. OVERVIEW
8.2. END-USER MARKET FORECASTS AND ANALYSIS
8.3. FOOD AND BEVERAGE
8.3.1. Overview
8.3.2. Food and Beverage Market Forecast and Analysis
8.4. PERSONAL CARE
8.4.1. Overview
8.4.2. Personal Care Market Forecast and Analysis
8.5. HOUSEHOLD
8.5.1. Overview
8.5.2. Household Market Forecast and Analysis
8.6. HEALTHCARE
8.6.1. Overview
8.6.2. Healthcare Market Forecast and Analysis
8.7. OTHERS
8.7.1. Overview
8.7.2. Others Market Forecast and Analysis
9. RIGID PLASTIC PACKAGING MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
9.1. NORTH AMERICA
9.1.1 North America Rigid Plastic Packaging Market Overview
9.1.2 North America Rigid Plastic Packaging Market Forecasts and Analysis
9.1.3 North America Rigid Plastic Packaging Market Forecasts and Analysis - By Material
9.1.4 North America Rigid Plastic Packaging Market Forecasts and Analysis - By End-user
9.1.5 North America Rigid Plastic Packaging Market Forecasts and Analysis - By Countries
9.1.5.1 Canada Rigid Plastic Packaging Market
9.1.5.1.1 Canada Rigid Plastic Packaging Market by Material
9.1.5.1.2 Canada Rigid Plastic Packaging Market by End-user
9.1.5.2 Mexico Rigid Plastic Packaging Market
9.1.5.2.1 Mexico Rigid Plastic Packaging Market by Material
9.1.5.2.2 Mexico Rigid Plastic Packaging Market by End-user
9.1.5.3 US Rigid Plastic Packaging Market
9.1.5.3.1 US Rigid Plastic Packaging Market by Material
9.1.5.3.2 US Rigid Plastic Packaging Market by End-user
9.2. EUROPE
9.2.1 Europe Rigid Plastic Packaging Market Overview
9.2.2 Europe Rigid Plastic Packaging Market Forecasts and Analysis
9.2.3 Europe Rigid Plastic Packaging Market Forecasts and Analysis - By Material
9.2.4 Europe Rigid Plastic Packaging Market Forecasts and Analysis - By End-user
9.2.5 Europe Rigid Plastic Packaging Market Forecasts and Analysis - By Countries
9.2.5.1 Germany Rigid Plastic Packaging Market
9.2.5.1.1 Germany Rigid Plastic Packaging Market by Material
9.2.5.1.2 Germany Rigid Plastic Packaging Market by End-user
9.2.5.2 France Rigid Plastic Packaging Market
9.2.5.2.1 France Rigid Plastic Packaging Market by Material
9.2.5.2.2 France Rigid Plastic Packaging Market by End-user
9.2.5.3 Italy Rigid Plastic Packaging Market
9.2.5.3.1 Italy Rigid Plastic Packaging Market by Material
9.2.5.3.2 Italy Rigid Plastic Packaging Market by End-user
9.2.5.4 United Kingdom Rigid Plastic Packaging Market
9.2.5.4.1 United Kingdom Rigid Plastic Packaging Market by Material
9.2.5.4.2 United Kingdom Rigid Plastic Packaging Market by End-user
9.2.5.5 Russia Rigid Plastic Packaging Market
9.2.5.5.1 Russia Rigid Plastic Packaging Market by Material
9.2.5.5.2 Russia Rigid Plastic Packaging Market by End-user
9.2.5.6 Rest of Europe Rigid Plastic Packaging Market
9.2.5.6.1 Rest of Europe Rigid Plastic Packaging Market by Material
9.2.5.6.2 Rest of Europe Rigid Plastic Packaging Market by End-user
9.3. ASIA-PACIFIC
9.3.1 Asia-Pacific Rigid Plastic Packaging Market Overview
9.3.2 Asia-Pacific Rigid Plastic Packaging Market Forecasts and Analysis
9.3.3 Asia-Pacific Rigid Plastic Packaging Market Forecasts and Analysis - By Material
9.3.4 Asia-Pacific Rigid Plastic Packaging Market Forecasts and Analysis - By End-user
9.3.5 Asia-Pacific Rigid Plastic Packaging Market Forecasts and Analysis - By Countries
9.3.5.1 Australia Rigid Plastic Packaging Market
9.3.5.1.1 Australia Rigid Plastic Packaging Market by Material
9.3.5.1.2 Australia Rigid Plastic Packaging Market by End-user
9.3.5.2 China Rigid Plastic Packaging Market
9.3.5.2.1 China Rigid Plastic Packaging Market by Material
9.3.5.2.2 China Rigid Plastic Packaging Market by End-user
9.3.5.3 India Rigid Plastic Packaging Market
9.3.5.3.1 India Rigid Plastic Packaging Market by Material
9.3.5.3.2 India Rigid Plastic Packaging Market by End-user
9.3.5.4 Japan Rigid Plastic Packaging Market
9.3.5.4.1 Japan Rigid Plastic Packaging Market by Material
9.3.5.4.2 Japan Rigid Plastic Packaging Market by End-user
9.3.5.5 South Korea Rigid Plastic Packaging Market
9.3.5.5.1 South Korea Rigid Plastic Packaging Market by Material
9.3.5.5.2 South Korea Rigid Plastic Packaging Market by End-user
9.3.5.6 Rest of Asia-Pacific Rigid Plastic Packaging Market
9.3.5.6.1 Rest of Asia-Pacific Rigid Plastic Packaging Market by Material
9.3.5.6.2 Rest of Asia-Pacific Rigid Plastic Packaging Market by End-user
9.4. MIDDLE EAST AND AFRICA
9.4.1 Middle East and Africa Rigid Plastic Packaging Market Overview
9.4.2 Middle East and Africa Rigid Plastic Packaging Market Forecasts and Analysis
9.4.3 Middle East and Africa Rigid Plastic Packaging Market Forecasts and Analysis - By Material
9.4.4 Middle East and Africa Rigid Plastic Packaging Market Forecasts and Analysis - By End-user
9.4.5 Middle East and Africa Rigid Plastic Packaging Market Forecasts and Analysis - By Countries
9.4.5.1 South Africa Rigid Plastic Packaging Market
9.4.5.1.1 South Africa Rigid Plastic Packaging Market by Material
9.4.5.1.2 South Africa Rigid Plastic Packaging Market by End-user
9.4.5.2 Saudi Arabia Rigid Plastic Packaging Market
9.4.5.2.1 Saudi Arabia Rigid Plastic Packaging Market by Material
9.4.5.2.2 Saudi Arabia Rigid Plastic Packaging Market by End-user
9.4.5.3 U.A.E Rigid Plastic Packaging Market
9.4.5.3.1 U.A.E Rigid Plastic Packaging Market by Material
9.4.5.3.2 U.A.E Rigid Plastic Packaging Market by End-user
9.4.5.4 Rest of Middle East and Africa Rigid Plastic Packaging Market
9.4.5.4.1 Rest of Middle East and Africa Rigid Plastic Packaging Market by Material
9.4.5.4.2 Rest of Middle East and Africa Rigid Plastic Packaging Market by End-user
9.5. SOUTH AND CENTRAL AMERICA
9.5.1 South and Central America Rigid Plastic Packaging Market Overview
9.5.2 South and Central America Rigid Plastic Packaging Market Forecasts and Analysis
9.5.3 South and Central America Rigid Plastic Packaging Market Forecasts and Analysis - By Material
9.5.4 South and Central America Rigid Plastic Packaging Market Forecasts and Analysis - By End-user
9.5.5 South and Central America Rigid Plastic Packaging Market Forecasts and Analysis - By Countries
9.5.5.1 Brazil Rigid Plastic Packaging Market
9.5.5.1.1 Brazil Rigid Plastic Packaging Market by Material
9.5.5.1.2 Brazil Rigid Plastic Packaging Market by End-user
9.5.5.2 Argentina Rigid Plastic Packaging Market
9.5.5.2.1 Argentina Rigid Plastic Packaging Market by Material
9.5.5.2.2 Argentina Rigid Plastic Packaging Market by End-user
9.5.5.3 Rest of South and Central America Rigid Plastic Packaging Market
9.5.5.3.1 Rest of South and Central America Rigid Plastic Packaging Market by Material
9.5.5.3.2 Rest of South and Central America Rigid Plastic Packaging Market by End-user
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. RIGID PLASTIC PACKAGING MARKET, KEY COMPANY PROFILES
11.1. ALPLA WERKE ALWIN LEHNER GMBH AND CO KG
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. AMCOR PLC
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. BERRY GLOBAL GROUP INC.
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. DS SMITH PLC
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. KLöCKNER PENTAPLAST GROUP
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. PLASTIPAK HOLDINGS, INC.
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. REYNOLDS GROUP HOLDINGS LIMITED
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. RPC GROUP PLC
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. SILGAN HOLDINGS INC.
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. SONOCO PRODUCTS COMPANY
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. ALPLA Werke Alwin Lehner GmbH and Co KG
2. Amcor Plc
3. Berry Global Group Inc.
4. DS Smith Plc
5. Klöckner Pentaplast Group
6. Plastipak Holdings, Inc.
7. Reynolds Group Holdings Limited
8. RPC Group Plc
9. Silgan Holdings Inc.
10. Sonoco Products Company
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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