The Skin 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.
The report is segmented by material (polyethylene, polypropylene, polyethylene terephthalate, ethylene-vinyl acetate, polystyrene, polyvinyl chloride and others) and substrate (plastic, paper and paperboard and others). The report further presents analysis based on application (meat and poultry products, seafood, dairy products, ready-to-eat meals and others). The global analysis is further broken-down at regional level and major countries. The market size and forecast at global, regional, and country levels for all the key market segments are covered under the scope. The report offers the value in USD for the above analysis and segments. The report provides key statistics on the market status of the key market players and offers market trends and opportunities.
Purpose of the ReportThe report Skin 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.
Skin Packaging Market Segmentation
Material- Polyethylene
- Polypropylene
- Polyethylene Terephthalate
- Ethylene-Vinyl Acetate
- Polystyrene
- Polyvinyl Chloride and Others
- Plastic
- Paper and Paperboard and Others
- Meat and Poultry Products
- Seafood
- Dairy Products
- Ready-to-Eat Meals and Others
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
Strategic Insights
Skin Packaging Market Growth Drivers- Growing demand for convenience food: The escalating requirement for ready-to-eat and convenience food is one of the significant factors compelling the growth of the skin packaging market. With the fast-paced modern lifestyle, consumers increasingly prefer to purchase foods that do not consume much time to prepare and eat. Skin packaging is a crucial form that tightens the grip around food to seal it off and preserve it for an extended period. This phenomenon is greatly observable in the meat and dairy sectors and in prepared foods, mainly where quality and safety issues are concerned with skin packaging utilized.
- Growth of e-commerce: The expansion of the internet and online grocery purchases has many effects on the packaging sector, skin packaging included. Many people buy groceries online instead of physically going to the stores; hence, the need for packaging that can withstand transport and handling increases. Such damage due to external shipping conditions is minimal while using skin packaging, which is why it is mainly preferred for most e-commerce retailers. Therefore, this increased tendency to purchase online will further enhance the skin packaging market's growth.
- Importance of packaging in the food sector: In the marketplace, where there is tough competition among retailers, how a product is packaged to attract customers becomes an issue of concern. Skin packaging assists in making products more appealing as this packaging enables viewing the product. This is more so for markets like cosmetics and other Functional consumables where consumers are highly influenced by how the products are packaged. This feature of skin packaging is by far the most appealing and is responsible for its growing popularity in multiple sectors.
- Advancements in material science: Recent developments in material science are improving skin packaging performance. Film and coating manufacturers are developing films and coatings with better barrier properties, more heat-resistant, and more eco-friendly. For example, their use also addresses the consumer trends towards biodegradable packaging, as the available materials are also recyclable. Such developments are likely to propel the skin packaging sector as businesses try to comply with increasing support for greener manufactured goods by consumers and regulations.
- Process automation in the packaging sector: The skin packaging market is also changing due to the on-going packaging process automation trends. Skin pack machines are being invented and adopted, aiding these manufacturers in maximizing their production and minimizing labor costs. This trend towards automation increases the packaging rate and ensures repeatability and the manner and quality of the packages. The utilization of automated skin pack solutions is likely to increase, with the growing preference for organizational efficiency.
- Collaborations and partnerships among manufacturers: The skin packaging industry has seen a rise in strategic partnerships and mergers between companies to improve product range and gain market share. Such collaborations tend to include product development plans to develop different types of packaging for specific products. Companies can access each other’s resources, push new products faster, and compete more in the market.
- Demand for custom formulations: Many manufacturers have the chance to create skin packaging solutions for particular applications or industry needs instead of general-purpose skin pack solutions. This can be achieved by providing unique formulations and designs for different sectors, including food, cosmetics, and pharmaceutical industries. This will help widen their target or customer base. Customization may involve changes in the film thickness, sealing methods, and barrier capacities, among others.
- Growth of end-use industries in Asia Pacific: The skin packaging market harbors enormous potential for market penetration, especially in the emerging regions of Asia-Pacific and Latin America. These regions are characterized by an outgoing potential in economic development and consumer power; therefore, the market for packaged products is likely to grow. This growth can be met by setting up local production plants and developing joint ventures with local companies.
- Demand from the electronics sector: The concept of skin packaging is not only limited to food applications but also offers opportunities for other sectors like electronics, automotive parts, and medical devices. Skin packaging is ideal for many products that need protection and visibility from many industries. By engaging in these alternate opportunities, manufacturers can expand their existing range of products and service other markets increasingly demanding advanced packaging.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Skin 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 Skin 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
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to country scope.
Frequently Asked Questions
Increased automation in packaging processes is expected to be the key market trends
The report can be delivered in PDF/Word format, we can also share excel data sheet based on request.
Sealed Air; FLEXOPACK SA; PLASTOPIL; Shandong Qilu Ethylene Chemicals Co Ltd; Shanghai Yifu Packing Products Co Ltd are some of the key players operating in the skin packaging market
On the basis of geography, the skin packaging market is classified into North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America
Rising demand for ready-to-consume food products is driving the market growth
The Skin Packaging 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 Skin Packaging Market - By Type
1.3.2 Skin Packaging Market - By Base Material
1.3.3 Skin Packaging Market - By Heat Seal Coating
1.3.4 Skin Packaging Market - By Application
1.3.5 Skin Packaging Market - By Region
1.3.5.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. SKIN 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. EXPERT OPINIONS
5. SKIN 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. SKIN PACKAGING MARKET - GLOBAL MARKET ANALYSIS
6.1. SKIN PACKAGING - GLOBAL MARKET OVERVIEW
6.2. SKIN PACKAGING - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. SKIN PACKAGING MARKET - REVENUE AND FORECASTS TO 2028 - TYPE
7.1. OVERVIEW
7.2. TYPE MARKET FORECASTS AND ANALYSIS
7.3. CARDED SKIN PACKAGING
7.3.1. Overview
7.3.2. Carded Skin Packaging Market Forecast and Analysis
7.4. NON-CARDED SKIN PACKAGING
7.4.1. Overview
7.4.2. Non-Carded Skin Packaging Market Forecast and Analysis
8. SKIN PACKAGING MARKET - REVENUE AND FORECASTS TO 2028 - BASE MATERIAL
8.1. OVERVIEW
8.2. BASE MATERIAL MARKET FORECASTS AND ANALYSIS
8.3. PLASTIC FILMS
8.3.1. Overview
8.3.2. Plastic Films Market Forecast and Analysis
8.4. PAPER AND PAPERBOARD
8.4.1. Overview
8.4.2. Paper and Paperboard Market Forecast and Analysis
8.5. OTHERS
8.5.1. Overview
8.5.2. Others Market Forecast and Analysis
9. SKIN PACKAGING MARKET - REVENUE AND FORECASTS TO 2028 - HEAT SEAL COATING
9.1. OVERVIEW
9.2. HEAT SEAL COATING MARKET FORECASTS AND ANALYSIS
9.3. WATER-BASED HEAT SEAL COATING
9.3.1. Overview
9.3.2. Water-Based Heat Seal Coating Market Forecast and Analysis
9.4. SOLVENT-BASED HEAT SEAL COATING
9.4.1. Overview
9.4.2. Solvent-Based Heat Seal Coating Market Forecast and Analysis
9.5. OTHERS
9.5.1. Overview
9.5.2. Others Market Forecast and Analysis
10. SKIN PACKAGING MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
10.1. OVERVIEW
10.2. APPLICATION MARKET FORECASTS AND ANALYSIS
10.3. FOOD
10.3.1. Overview
10.3.2. Food Market Forecast and Analysis
10.4. CONSUMER GOODS
10.4.1. Overview
10.4.2. Consumer Goods Market Forecast and Analysis
10.5. INDUSTRIAL GOODS
10.5.1. Overview
10.5.2. Industrial Goods Market Forecast and Analysis
10.6. OTHERS
10.6.1. Overview
10.6.2. Others Market Forecast and Analysis
11. SKIN PACKAGING MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
11.1. NORTH AMERICA
11.1.1 North America Skin Packaging Market Overview
11.1.2 North America Skin Packaging Market Forecasts and Analysis
11.1.3 North America Skin Packaging Market Forecasts and Analysis - By Type
11.1.4 North America Skin Packaging Market Forecasts and Analysis - By Base Material
11.1.5 North America Skin Packaging Market Forecasts and Analysis - By Heat Seal Coating
11.1.6 North America Skin Packaging Market Forecasts and Analysis - By Application
11.1.7 North America Skin Packaging Market Forecasts and Analysis - By Countries
11.1.7.1 United States Skin Packaging Market
11.1.7.1.1 United States Skin Packaging Market by Type
11.1.7.1.2 United States Skin Packaging Market by Base Material
11.1.7.1.3 United States Skin Packaging Market by Heat Seal Coating
11.1.7.1.4 United States Skin Packaging Market by Application
11.1.7.2 Canada Skin Packaging Market
11.1.7.2.1 Canada Skin Packaging Market by Type
11.1.7.2.2 Canada Skin Packaging Market by Base Material
11.1.7.2.3 Canada Skin Packaging Market by Heat Seal Coating
11.1.7.2.4 Canada Skin Packaging Market by Application
11.1.7.3 Mexico Skin Packaging Market
11.1.7.3.1 Mexico Skin Packaging Market by Type
11.1.7.3.2 Mexico Skin Packaging Market by Base Material
11.1.7.3.3 Mexico Skin Packaging Market by Heat Seal Coating
11.1.7.3.4 Mexico Skin Packaging Market by Application
11.2. EUROPE
11.2.1 Europe Skin Packaging Market Overview
11.2.2 Europe Skin Packaging Market Forecasts and Analysis
11.2.3 Europe Skin Packaging Market Forecasts and Analysis - By Type
11.2.4 Europe Skin Packaging Market Forecasts and Analysis - By Base Material
11.2.5 Europe Skin Packaging Market Forecasts and Analysis - By Heat Seal Coating
11.2.6 Europe Skin Packaging Market Forecasts and Analysis - By Application
11.2.7 Europe Skin Packaging Market Forecasts and Analysis - By Countries
11.2.7.1 Germany Skin Packaging Market
11.2.7.1.1 Germany Skin Packaging Market by Type
11.2.7.1.2 Germany Skin Packaging Market by Base Material
11.2.7.1.3 Germany Skin Packaging Market by Heat Seal Coating
11.2.7.1.4 Germany Skin Packaging Market by Application
11.2.7.2 France Skin Packaging Market
11.2.7.2.1 France Skin Packaging Market by Type
11.2.7.2.2 France Skin Packaging Market by Base Material
11.2.7.2.3 France Skin Packaging Market by Heat Seal Coating
11.2.7.2.4 France Skin Packaging Market by Application
11.2.7.3 Italy Skin Packaging Market
11.2.7.3.1 Italy Skin Packaging Market by Type
11.2.7.3.2 Italy Skin Packaging Market by Base Material
11.2.7.3.3 Italy Skin Packaging Market by Heat Seal Coating
11.2.7.3.4 Italy Skin Packaging Market by Application
11.2.7.4 United Kingdom Skin Packaging Market
11.2.7.4.1 United Kingdom Skin Packaging Market by Type
11.2.7.4.2 United Kingdom Skin Packaging Market by Base Material
11.2.7.4.3 United Kingdom Skin Packaging Market by Heat Seal Coating
11.2.7.4.4 United Kingdom Skin Packaging Market by Application
11.2.7.5 Russia Skin Packaging Market
11.2.7.5.1 Russia Skin Packaging Market by Type
11.2.7.5.2 Russia Skin Packaging Market by Base Material
11.2.7.5.3 Russia Skin Packaging Market by Heat Seal Coating
11.2.7.5.4 Russia Skin Packaging Market by Application
11.2.7.6 Rest of Europe Skin Packaging Market
11.2.7.6.1 Rest of Europe Skin Packaging Market by Type
11.2.7.6.2 Rest of Europe Skin Packaging Market by Base Material
11.2.7.6.3 Rest of Europe Skin Packaging Market by Heat Seal Coating
11.2.7.6.4 Rest of Europe Skin Packaging Market by Application
11.3. ASIA-PACIFIC
11.3.1 Asia-Pacific Skin Packaging Market Overview
11.3.2 Asia-Pacific Skin Packaging Market Forecasts and Analysis
11.3.3 Asia-Pacific Skin Packaging Market Forecasts and Analysis - By Type
11.3.4 Asia-Pacific Skin Packaging Market Forecasts and Analysis - By Base Material
11.3.5 Asia-Pacific Skin Packaging Market Forecasts and Analysis - By Heat Seal Coating
11.3.6 Asia-Pacific Skin Packaging Market Forecasts and Analysis - By Application
11.3.7 Asia-Pacific Skin Packaging Market Forecasts and Analysis - By Countries
11.3.7.1 Australia Skin Packaging Market
11.3.7.1.1 Australia Skin Packaging Market by Type
11.3.7.1.2 Australia Skin Packaging Market by Base Material
11.3.7.1.3 Australia Skin Packaging Market by Heat Seal Coating
11.3.7.1.4 Australia Skin Packaging Market by Application
11.3.7.2 China Skin Packaging Market
11.3.7.2.1 China Skin Packaging Market by Type
11.3.7.2.2 China Skin Packaging Market by Base Material
11.3.7.2.3 China Skin Packaging Market by Heat Seal Coating
11.3.7.2.4 China Skin Packaging Market by Application
11.3.7.3 India Skin Packaging Market
11.3.7.3.1 India Skin Packaging Market by Type
11.3.7.3.2 India Skin Packaging Market by Base Material
11.3.7.3.3 India Skin Packaging Market by Heat Seal Coating
11.3.7.3.4 India Skin Packaging Market by Application
11.3.7.4 Japan Skin Packaging Market
11.3.7.4.1 Japan Skin Packaging Market by Type
11.3.7.4.2 Japan Skin Packaging Market by Base Material
11.3.7.4.3 Japan Skin Packaging Market by Heat Seal Coating
11.3.7.4.4 Japan Skin Packaging Market by Application
11.3.7.5 South Korea Skin Packaging Market
11.3.7.5.1 South Korea Skin Packaging Market by Type
11.3.7.5.2 South Korea Skin Packaging Market by Base Material
11.3.7.5.3 South Korea Skin Packaging Market by Heat Seal Coating
11.3.7.5.4 South Korea Skin Packaging Market by Application
11.3.7.6 Rest of Asia-Pacific Skin Packaging Market
11.3.7.6.1 Rest of Asia-Pacific Skin Packaging Market by Type
11.3.7.6.2 Rest of Asia-Pacific Skin Packaging Market by Base Material
11.3.7.6.3 Rest of Asia-Pacific Skin Packaging Market by Heat Seal Coating
11.3.7.6.4 Rest of Asia-Pacific Skin Packaging Market by Application
11.4. MIDDLE EAST AND AFRICA
11.4.1 Middle East and Africa Skin Packaging Market Overview
11.4.2 Middle East and Africa Skin Packaging Market Forecasts and Analysis
11.4.3 Middle East and Africa Skin Packaging Market Forecasts and Analysis - By Type
11.4.4 Middle East and Africa Skin Packaging Market Forecasts and Analysis - By Base Material
11.4.5 Middle East and Africa Skin Packaging Market Forecasts and Analysis - By Heat Seal Coating
11.4.6 Middle East and Africa Skin Packaging Market Forecasts and Analysis - By Application
11.4.7 Middle East and Africa Skin Packaging Market Forecasts and Analysis - By Countries
11.4.7.1 South Africa Skin Packaging Market
11.4.7.1.1 South Africa Skin Packaging Market by Type
11.4.7.1.2 South Africa Skin Packaging Market by Base Material
11.4.7.1.3 South Africa Skin Packaging Market by Heat Seal Coating
11.4.7.1.4 South Africa Skin Packaging Market by Application
11.4.7.2 Saudi Arabia Skin Packaging Market
11.4.7.2.1 Saudi Arabia Skin Packaging Market by Type
11.4.7.2.2 Saudi Arabia Skin Packaging Market by Base Material
11.4.7.2.3 Saudi Arabia Skin Packaging Market by Heat Seal Coating
11.4.7.2.4 Saudi Arabia Skin Packaging Market by Application
11.4.7.3 U.A.E Skin Packaging Market
11.4.7.3.1 U.A.E Skin Packaging Market by Type
11.4.7.3.2 U.A.E Skin Packaging Market by Base Material
11.4.7.3.3 U.A.E Skin Packaging Market by Heat Seal Coating
11.4.7.3.4 U.A.E Skin Packaging Market by Application
11.4.7.4 Rest of Middle East and Africa Skin Packaging Market
11.4.7.4.1 Rest of Middle East and Africa Skin Packaging Market by Type
11.4.7.4.2 Rest of Middle East and Africa Skin Packaging Market by Base Material
11.4.7.4.3 Rest of Middle East and Africa Skin Packaging Market by Heat Seal Coating
11.4.7.4.4 Rest of Middle East and Africa Skin Packaging Market by Application
11.5. SOUTH AND CENTRAL AMERICA
11.5.1 South and Central America Skin Packaging Market Overview
11.5.2 South and Central America Skin Packaging Market Forecasts and Analysis
11.5.3 South and Central America Skin Packaging Market Forecasts and Analysis - By Type
11.5.4 South and Central America Skin Packaging Market Forecasts and Analysis - By Base Material
11.5.5 South and Central America Skin Packaging Market Forecasts and Analysis - By Heat Seal Coating
11.5.6 South and Central America Skin Packaging Market Forecasts and Analysis - By Application
11.5.7 South and Central America Skin Packaging Market Forecasts and Analysis - By Countries
11.5.7.1 Brazil Skin Packaging Market
11.5.7.1.1 Brazil Skin Packaging Market by Type
11.5.7.1.2 Brazil Skin Packaging Market by Base Material
11.5.7.1.3 Brazil Skin Packaging Market by Heat Seal Coating
11.5.7.1.4 Brazil Skin Packaging Market by Application
11.5.7.2 Argentina Skin Packaging Market
11.5.7.2.1 Argentina Skin Packaging Market by Type
11.5.7.2.2 Argentina Skin Packaging Market by Base Material
11.5.7.2.3 Argentina Skin Packaging Market by Heat Seal Coating
11.5.7.2.4 Argentina Skin Packaging Market by Application
11.5.7.3 Rest of South and Central America Skin Packaging Market
11.5.7.3.1 Rest of South and Central America Skin Packaging Market by Type
11.5.7.3.2 Rest of South and Central America Skin Packaging Market by Base Material
11.5.7.3.3 Rest of South and Central America Skin Packaging Market by Heat Seal Coating
11.5.7.3.4 Rest of South and Central America Skin Packaging Market by Application
12. INDUSTRY LANDSCAPE
12.1. MERGERS AND ACQUISITIONS
12.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
12.3. NEW PRODUCT LAUNCHES
12.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
13. SKIN PACKAGING MARKET, KEY COMPANY PROFILES
13.1. BEMIS COMPANY, INC.
13.1.1. Key Facts
13.1.2. Business Description
13.1.3. Products and Services
13.1.4. Financial Overview
13.1.5. SWOT Analysis
13.1.6. Key Developments
13.2. BERRY PLASTICS GROUP, INC.
13.2.1. Key Facts
13.2.2. Business Description
13.2.3. Products and Services
13.2.4. Financial Overview
13.2.5. SWOT Analysis
13.2.6. Key Developments
13.3. CLONDALKIN GROUP HOLDINGS B.V.
13.3.1. Key Facts
13.3.2. Business Description
13.3.3. Products and Services
13.3.4. Financial Overview
13.3.5. SWOT Analysis
13.3.6. Key Developments
13.4. DISPLAY PACK INC.
13.4.1. Key Facts
13.4.2. Business Description
13.4.3. Products and Services
13.4.4. Financial Overview
13.4.5. SWOT Analysis
13.4.6. Key Developments
13.5. E.I. DU PONT DE NEMOURS AND COMPANY
13.5.1. Key Facts
13.5.2. Business Description
13.5.3. Products and Services
13.5.4. Financial Overview
13.5.5. SWOT Analysis
13.5.6. Key Developments
13.6. G. MONDINI SPA
13.6.1. Key Facts
13.6.2. Business Description
13.6.3. Products and Services
13.6.4. Financial Overview
13.6.5. SWOT Analysis
13.6.6. Key Developments
13.7. LINPAC PACKAGING LIMITED
13.7.1. Key Facts
13.7.2. Business Description
13.7.3. Products and Services
13.7.4. Financial Overview
13.7.5. SWOT Analysis
13.7.6. Key Developments
13.8. SEALED AIR CORPORATION
13.8.1. Key Facts
13.8.2. Business Description
13.8.3. Products and Services
13.8.4. Financial Overview
13.8.5. SWOT Analysis
13.8.6. Key Developments
13.9. THE DOW CHEMICAL COMPANY
13.9.1. Key Facts
13.9.2. Business Description
13.9.3. Products and Services
13.9.4. Financial Overview
13.9.5. SWOT Analysis
13.9.6. Key Developments
13.10. WESTROCK COMPANY
13.10.1. Key Facts
13.10.2. Business Description
13.10.3. Products and Services
13.10.4. Financial Overview
13.10.5. SWOT Analysis
13.10.6. Key Developments
14. APPENDIX
14.1. ABOUT THE INSIGHT PARTNERS
14.2. GLOSSARY OF TERMS
1. Bemis Company, Inc.
2. Berry Plastics Group, Inc.
3. Clondalkin Group Holdings B.V.
4. Display Pack Inc.
5 .E.I. Du Pont De Nemours and Company
6. G. Mondini SPA
7. Linpac Packaging Limited
8. Sealed Air Corporation
9. The DOW Chemical Company
10. Westrock 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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