The Shrink Packaging Market is expected to register a CAGR of 6% from 2025 to 2031, with a market size expanding from US$ XX million in 2024 to US$ XX Million by 2031.
Shrink Packaging Market covers analysis By Material (Linear Low-Density Polyethylene (LLDPE), Low-Density Polyethylene (LDPE), PVC); Product (Hoods, Labels and Sleeves, Wrap); Application (Food Packaging, Beverages), and Geography (North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America). Shrink packaging is used for many products to protect them from dust and dirt along with moisture damage or weathering. They tend to bind the products, especially small items, together. It is one of the best ways to protect the work during transportation and storage from surface damage. Heat is an essential part of the overall shrink-packaging process.
Purpose of the ReportThe report Shrink 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.
Shrink Packaging Market Segmentation
Material- Linear Low-Density Polyethylene
- Low-Density Polyethylene
- PVC
- Hoods
- Labels and Sleeves
- Wrap
- Food Packaging
- Beverages
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
Strategic Insights
Shrink Packaging Market Growth Drivers- Growth in Demand for Packaged Consumer Goods: In the food, beverage, and personal care industries, shrink packaging is heavily used for protection and presentation. The nature of demand for packaged products because of convenience, the appeal of products on shelves, and transport protection is quickening the need for shrink packaging. This is really visible in developed as well as developing markets.
- Increasing E-commerce and Online Retailing: The boom from online shopping leads to the increased need for shrink packing. Any product passing through e-commerce platforms needs compact, safe, tamper-proof but very light packaging. Shrinkage packaging has the best of it because it seals multiple products and guarantees no internal faults from transit; thereby, it becomes an integral part of all logistical online retailing.
- Focus on Product Protection and Shelf Life Extension: Shrink packaging extends the shelf life of products with the provision of a protective barrier against moisture, contaminants, and physical damage. It is, therefore, one of the most popular varieties in the food industries and beverages. With an increased emphasis on product preservation and durability, other sectors will find it very enticing in the features that drive its market uptake.
- Growing Adoption of Sustainable Shrink Films: Due to increasing environmental problems, there will be a greater need for biodegradable and recyclable shrink films. Renewable sources will produce these sustainable alternatives and bring them to the market. This project will be led by companies geared to develop green solutions in line with what consumers want from packaging in terms of reduced environmental effects.
- Developing Smart Packaging Technologies: Packaging that combines smart mechanisms like RFID tags and QR codes with shrink films will increase. This would improve product traceability, anti-counterfeit protection, and consumer engagement. Smart shrink packaging technology would be utilized in pharmaceuticals, electronics, and food with time to create real-time feedback and additional security features.
- Shrink Pack Customization for Branding: Brands of today are packaging not only for protection but also for marketing their products. The shrink films nowadays provides high-definition quality prints which can include in the form of logos, brandings and product information. This demand for aesthetic and manifestly different packaging solutions will continue to rise, as companies work to differentiate their products in competitive retail spaces.
- Expanding into Emerging Markets: Emerging economies like those in the Latin America and Asia-Pacific regions are greatly inclined towards shrink wrapping because industrialization, urbanization and increase in disposable incomes are all fast thriving avenues for consumers to demand consumer goods and packed products. This becomes an avenue for these manufacturers to penetrate and serve growing markets in these areas.
- Growing Demand for Multi-Pack and Bundling Solutions: Customers are gravitating towards multi-pack setups and bundling systems that utilize shrink film packaging. Hence, this is majorly climbing as it adds comfort, savings among others in cosmetics, beverages, and pharmaceuticals. In consequence, manufacturers can tap this trend by reinventing shrinkage systems to ensure the products are bundled beautifully and effectively.
- Advances in Biodegradable Shrink Films: So as to manufacture shrink films that are biodegradable, attention has been towards development on sustainability. They can also base biodegradable shrink films from plant-based plastics and, thus, enable a reduce environmental footprint in packaging plus attuning users to those environmentally aware, giving lots of potential growth where industries are seeking green packaging alternatives.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Shrink 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 Shrink 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.
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
This text is related
to country scope.
Frequently Asked Questions
The Asia Pacific market is expected to account for the highest CAGR during the forecast period, owing to the growing online retail industry in the region.
The hoods product segment accounted for the largest market share in 2023
Aakriti Packaging, Amcor Ltd, American Eagle Packaging Corporation, Bemis Company, Inc., Berry Global, Inc., Bonset America Corporation, Deufol SE, Dow Chemical Company, and Printpack Incorporated are some of the key players in the market.
Growing demand for protective packaging is a key driver in the market.
The Shrink Packaging Market is estimated to witness a CAGR of 6% from 2023 to 2031
Growing automation in packaging is an emerging trend in the market.
1.INTRODUCTION
1.1.SCOPE OF THE STUDY
1.2.THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3.MARKET SEGMENTATION
1.3.1Shrink Packaging Market - By Material
1.3.2Shrink Packaging Market - By Product
1.3.3Shrink Packaging Market - By Application
1.3.4Shrink Packaging Market - By Region
1.3.4.1By Country
2.KEY TAKEAWAYS
3.RESEARCH METHODOLOGY
4.SHRINK PACKAGING MARKET LANDSCAPE
4.1.OVERVIEW
4.2.PEST ANALYSIS
4.2.1North America - Pest Analysis
4.2.2Europe - Pest Analysis
4.2.3Asia-Pacific - Pest Analysis
4.2.4Middle East and Africa - Pest Analysis
4.2.5South and Central America - Pest Analysis
4.3.EXPERT OPINIONS
5.SHRINK 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 AND RESTRAINTS
6.SHRINK PACKAGING MARKET - GLOBAL MARKET ANALYSIS
6.1.SHRINK PACKAGING - GLOBAL MARKET OVERVIEW
6.2.SHRINK PACKAGING - GLOBAL MARKET AND FORECAST TO 2028
6.3.MARKET POSITIONING/MARKET SHARE
7.SHRINK PACKAGING MARKET - REVENUE AND FORECASTS TO 2028 â" MATERIAL
7.1.OVERVIEW
7.2.MATERIAL MARKET FORECASTS AND ANALYSIS
7.3.LINEAR LOW-DENSITY POLYETHYLENE (LLDPE)
7.3.1.Overview
7.3.2.Linear Low-Density Polyethylene (LLDPE) Market Forecast and Analysis
7.4.LOW-DENSITY POLYETHYLENE (LDPE)
7.4.1.Overview
7.4.2.Low-Density Polyethylene (LDPE) Market Forecast and Analysis
7.5.PVC
7.5.1.Overview
7.5.2.PVC Market Forecast and Analysis
8.SHRINK PACKAGING MARKET - REVENUE AND FORECASTS TO 2028 â" PRODUCT
8.1.OVERVIEW
8.2.PRODUCT MARKET FORECASTS AND ANALYSIS
8.3.HOODS
8.3.1.Overview
8.3.2.Hoods Market Forecast and Analysis
8.4.LABELS AND SLEEVES
8.4.1.Overview
8.4.2.Labels and Sleeves Market Forecast and Analysis
8.5.WRAP
8.5.1.Overview
8.5.2.Wrap Market Forecast and Analysis
9.SHRINK PACKAGING MARKET - REVENUE AND FORECASTS TO 2028 â" APPLICATION
9.1.OVERVIEW
9.2.APPLICATION MARKET FORECASTS AND ANALYSIS
9.3.FOOD PACKAGING
9.3.1.Overview
9.3.2.Food Packaging Market Forecast and Analysis
9.4.BEVERAGES
9.4.1.Overview
9.4.2.Beverages Market Forecast and Analysis
10.SHRINK PACKAGING MARKET REVENUE AND FORECASTS TO 2028 â" GEOGRAPHICAL ANALYSIS
10.1.NORTH AMERICA
10.1.1North America Shrink Packaging Market Overview
10.1.2North America Shrink Packaging Market Forecasts and Analysis
10.1.3North America Shrink Packaging Market Forecasts and Analysis - By Material
10.1.4North America Shrink Packaging Market Forecasts and Analysis - By Product
10.1.5North America Shrink Packaging Market Forecasts and Analysis - By Application
10.1.6North America Shrink Packaging Market Forecasts and Analysis - By Countries
10.1.6.1United States Shrink Packaging Market
10.1.6.1.1United States Shrink Packaging Market by Material
10.1.6.1.2United States Shrink Packaging Market by Product
10.1.6.1.3United States Shrink Packaging Market by Application
10.1.6.2Canada Shrink Packaging Market
10.1.6.2.1Canada Shrink Packaging Market by Material
10.1.6.2.2Canada Shrink Packaging Market by Product
10.1.6.2.3Canada Shrink Packaging Market by Application
10.1.6.3Mexico Shrink Packaging Market
10.1.6.3.1Mexico Shrink Packaging Market by Material
10.1.6.3.2Mexico Shrink Packaging Market by Product
10.1.6.3.3Mexico Shrink Packaging Market by Application
10.2.EUROPE
10.2.1Europe Shrink Packaging Market Overview
10.2.2Europe Shrink Packaging Market Forecasts and Analysis
10.2.3Europe Shrink Packaging Market Forecasts and Analysis - By Material
10.2.4Europe Shrink Packaging Market Forecasts and Analysis - By Product
10.2.5Europe Shrink Packaging Market Forecasts and Analysis - By Application
10.2.6Europe Shrink Packaging Market Forecasts and Analysis - By Countries
10.2.6.1Germany Shrink Packaging Market
10.2.6.1.1Germany Shrink Packaging Market by Material
10.2.6.1.2Germany Shrink Packaging Market by Product
10.2.6.1.3Germany Shrink Packaging Market by Application
10.2.6.2France Shrink Packaging Market
10.2.6.2.1France Shrink Packaging Market by Material
10.2.6.2.2France Shrink Packaging Market by Product
10.2.6.2.3France Shrink Packaging Market by Application
10.2.6.3Italy Shrink Packaging Market
10.2.6.3.1Italy Shrink Packaging Market by Material
10.2.6.3.2Italy Shrink Packaging Market by Product
10.2.6.3.3Italy Shrink Packaging Market by Application
10.2.6.4United Kingdom Shrink Packaging Market
10.2.6.4.1United Kingdom Shrink Packaging Market by Material
10.2.6.4.2United Kingdom Shrink Packaging Market by Product
10.2.6.4.3United Kingdom Shrink Packaging Market by Application
10.2.6.5Russia Shrink Packaging Market
10.2.6.5.1Russia Shrink Packaging Market by Material
10.2.6.5.2Russia Shrink Packaging Market by Product
10.2.6.5.3Russia Shrink Packaging Market by Application
10.2.6.6Rest of Europe Shrink Packaging Market
10.2.6.6.1Rest of Europe Shrink Packaging Market by Material
10.2.6.6.2Rest of Europe Shrink Packaging Market by Product
10.2.6.6.3Rest of Europe Shrink Packaging Market by Application
10.3.ASIA-PACIFIC
10.3.1Asia-Pacific Shrink Packaging Market Overview
10.3.2Asia-Pacific Shrink Packaging Market Forecasts and Analysis
10.3.3Asia-Pacific Shrink Packaging Market Forecasts and Analysis - By Material
10.3.4Asia-Pacific Shrink Packaging Market Forecasts and Analysis - By Product
10.3.5Asia-Pacific Shrink Packaging Market Forecasts and Analysis - By Application
10.3.6Asia-Pacific Shrink Packaging Market Forecasts and Analysis - By Countries
10.3.6.1Australia Shrink Packaging Market
10.3.6.1.1Australia Shrink Packaging Market by Material
10.3.6.1.2Australia Shrink Packaging Market by Product
10.3.6.1.3Australia Shrink Packaging Market by Application
10.3.6.2China Shrink Packaging Market
10.3.6.2.1China Shrink Packaging Market by Material
10.3.6.2.2China Shrink Packaging Market by Product
10.3.6.2.3China Shrink Packaging Market by Application
10.3.6.3India Shrink Packaging Market
10.3.6.3.1India Shrink Packaging Market by Material
10.3.6.3.2India Shrink Packaging Market by Product
10.3.6.3.3India Shrink Packaging Market by Application
10.3.6.4Japan Shrink Packaging Market
10.3.6.4.1Japan Shrink Packaging Market by Material
10.3.6.4.2Japan Shrink Packaging Market by Product
10.3.6.4.3Japan Shrink Packaging Market by Application
10.3.6.5South Korea Shrink Packaging Market
10.3.6.5.1South Korea Shrink Packaging Market by Material
10.3.6.5.2South Korea Shrink Packaging Market by Product
10.3.6.5.3South Korea Shrink Packaging Market by Application
10.3.6.6Rest of Asia-Pacific Shrink Packaging Market
10.3.6.6.1Rest of Asia-Pacific Shrink Packaging Market by Material
10.3.6.6.2Rest of Asia-Pacific Shrink Packaging Market by Product
10.3.6.6.3Rest of Asia-Pacific Shrink Packaging Market by Application
10.4.MIDDLE EAST AND AFRICA
10.4.1Middle East and Africa Shrink Packaging Market Overview
10.4.2Middle East and Africa Shrink Packaging Market Forecasts and Analysis
10.4.3Middle East and Africa Shrink Packaging Market Forecasts and Analysis - By Material
10.4.4Middle East and Africa Shrink Packaging Market Forecasts and Analysis - By Product
10.4.5Middle East and Africa Shrink Packaging Market Forecasts and Analysis - By Application
10.4.6Middle East and Africa Shrink Packaging Market Forecasts and Analysis - By Countries
10.4.6.1South Africa Shrink Packaging Market
10.4.6.1.1South Africa Shrink Packaging Market by Material
10.4.6.1.2South Africa Shrink Packaging Market by Product
10.4.6.1.3South Africa Shrink Packaging Market by Application
10.4.6.2Saudi Arabia Shrink Packaging Market
10.4.6.2.1Saudi Arabia Shrink Packaging Market by Material
10.4.6.2.2Saudi Arabia Shrink Packaging Market by Product
10.4.6.2.3Saudi Arabia Shrink Packaging Market by Application
10.4.6.3U.A.E Shrink Packaging Market
10.4.6.3.1U.A.E Shrink Packaging Market by Material
10.4.6.3.2U.A.E Shrink Packaging Market by Product
10.4.6.3.3U.A.E Shrink Packaging Market by Application
10.4.6.4Rest of Middle East and Africa Shrink Packaging Market
10.4.6.4.1Rest of Middle East and Africa Shrink Packaging Market by Material
10.4.6.4.2Rest of Middle East and Africa Shrink Packaging Market by Product
10.4.6.4.3Rest of Middle East and Africa Shrink Packaging Market by Application
10.5.SOUTH AND CENTRAL AMERICA
10.5.1South and Central America Shrink Packaging Market Overview
10.5.2South and Central America Shrink Packaging Market Forecasts and Analysis
10.5.3South and Central America Shrink Packaging Market Forecasts and Analysis - By Material
10.5.4South and Central America Shrink Packaging Market Forecasts and Analysis - By Product
10.5.5South and Central America Shrink Packaging Market Forecasts and Analysis - By Application
10.5.6South and Central America Shrink Packaging Market Forecasts and Analysis - By Countries
10.5.6.1Brazil Shrink Packaging Market
10.5.6.1.1Brazil Shrink Packaging Market by Material
10.5.6.1.2Brazil Shrink Packaging Market by Product
10.5.6.1.3Brazil Shrink Packaging Market by Application
10.5.6.2Argentina Shrink Packaging Market
10.5.6.2.1Argentina Shrink Packaging Market by Material
10.5.6.2.2Argentina Shrink Packaging Market by Product
10.5.6.2.3Argentina Shrink Packaging Market by Application
10.5.6.3Rest of South and Central America Shrink Packaging Market
10.5.6.3.1Rest of South and Central America Shrink Packaging Market by Material
10.5.6.3.2Rest of South and Central America Shrink Packaging Market by Product
10.5.6.3.3Rest of South and Central America Shrink Packaging Market by Application
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.SHRINK PACKAGING MARKET, KEY COMPANY PROFILES
12.1.AAKRITI PACKAGING
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.AMCOR LTD
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.AMERICAN EAGLE PACKAGING CORPORATION
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.BEMIS COMPANY, INC.
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.BERRY GLOBAL, INC.
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.BONSET AMERICA CORPORATION
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.DEUFOL SE
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.DOW CHEMICAL COMPANY
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.PRINTPACK INCORPORATED
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.OTHERS
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. Aakriti Packaging
2. Amcor Ltd
3. American Eagle Packaging Corporation
4. Bemis Company, Inc.
5. Berry Global, Inc.
6. Bonset America Corporation
7. Deufol SE
8. Dow Chemical Company
9. Printpack Incorporated
10. Others
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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