Europe Food Packaging Market to Grow at a CAGR of 4.9% to reach US$ 115,256.45 million from 2022 to 2030

Europe Food Packaging Market Size and Forecasts (2020 - 2030), Regional Share, Trends, and Growth Opportunity Analysis Report Coverage: By Product Type [Trays (Molded Fiber, Plastic, Aluminum, and Others), Bottles, Tubs and Cups, Boxes, and Others] and Application (Commercial Catering, Food-to-Go, Ready-to-Eat Meals, and Others)

  • Report Code : TIPRE00030084
  • Category : Chemicals and Materials
  • Status : Published
  • No. of Pages : 150
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Europe Food Packaging Market to Grow at a CAGR of 4.9% to reach US$ 115,256.45 million from 2022 to 2030

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The Europe food packaging market is expected to grow from US$ 79,344.12 million in 2022 to US$ 115,256.45 million by 2030; it is expected to register a CAGR of 4.9% from 2022 to 2030.

MARKET ANALYSIS

Food packaging plays an essential role in maintaining quality and keeping food safe during transportation, distribution, storage, retailing, handling, and end-use, and delivering food products safely to the consumer. Food packaging products include trays, bottles, boxes, tubs and cups, ampules, and others. The packaging helps preserve food products from contamination caused by microorganisms, air, and moisture and helps catalytic activity in fresh food. Food packaging is durable, strong, and protective and plays a vital role in safety, convenience, efficiency, and providing product information to consumers. All these factors drive the Europe food packaging market growth.

GROWTH DRIVERS AND CHALLENGES

Organized retail and e-commerce platforms provide a broader reach and greater visibility for food packaging. Consumers increasingly prefer organized retail formats due to the convenience and wide range of products they offer. Organized retail, including supermarkets, hypermarkets, and specialty stores, offers many products such as dairy products, meat, seafood, and ready-to-eat (RTE) meals. The convenience of having multiple products under one roof attracts consumers and encourages them to choose organized retail over traditional retail formats. The diverse product assortment requires appropriate packaging to ensure product integrity, hygiene, and presentation on store shelves, further driving the Europe food packaging market growth. According to the Food Industry Association, Food Marketing Institute, consumers have increasingly turned to grocery store food service for their meal plans, fueling the ongoing food-at-home trend. Additionally, food packaging helps extend the shelf life of perishable products by providing protective barriers against oxygen, moisture, and contaminants. Hence, retailers can stock various food items for longer periods, lowering the risk of spoilage and minimizing product waste. Proper packaging ensures product visibility, brand recognition, and consumer appeal, enhancing the chances of sales. With dedicated shelves, refrigerated sections, or an online listing, e-commerce platforms and retail stores showcase a wide range of food items. Thus, the expanding organized retail & e-commerce industry bolsters the Europe food packaging market growth.

Stringent government regulations are imposed on food packaging to ensure consumer safety and environmental sustainability. The regulations present challenges and limitations for packaging manufacturers and suppliers. Complying with stringent norms often requires significant investments in research, testing, certification, and ongoing compliance monitoring. These additional costs can pose financial burdens on packaging companies, especially small- and medium-sized enterprises, limiting their ability to invest in innovation, expansion, and new product development. Government regulations may restrict or ban the use of certain packaging materials, particularly those considered harmful to human health or the environment. These factors limit the Europe food packaging market growth.

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Europe Food Packaging Market: Strategic Insights

europe-food-packaging-market
Market Size Value inUS$ 79,344.12 million in 2022
Market Size Value byUS$ 115,256.45 million by 2030
Growth rateCAGR of 4.9% from 2022 to 2030
Forecast Period2022 to 2030
Base Year2022
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REPORT SEGMENTATION AND SCOPE

The "Europe Food Packaging Market Analysis to 2030" is a specialized and in-depth study with a major focus on the Europe food packaging market trends and growth opportunities in Europe. The report aims to provide an overview of the Europe food packaging market with detailed market segmentation by product type and application. The report provides key statistics on the use of food packaging in Europe. In addition, it provides a qualitative assessment of various factors affecting the food packaging market performance in Europe. The report also includes a comprehensive analysis of the leading players in the Europe food packaging market and their key strategic developments. Several analyses on the market dynamics are also included to help identify the key driving factors, market trends, and lucrative opportunities that would, in turn, aid in identifying the major revenue pockets.

Further, ecosystem analysis and Porter's five forces analysis provide a 360-degree view of the Europe food packaging market, which helps understand the entire supply chain and various factors influencing the Europe food packaging market growth.  

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SEGMENTAL ANALYSIS

The Europe food packaging market is bifurcated on the basis of product type and application. Based on product type, the Europe food packaging market is segmented into trays (molded fiber, plastic, aluminum, and others), bottles, tubs and cups, boxes, and others. By application, the Europe food packaging market is segmented into commercial catering, food-to-go, ready-to-eat meals, and others. Based on product type, in 2022, the boxes segment accounted for the largest share of the Europe food packaging market. Food packaging boxes are a popular choice for transporting and storing a wide range of food products, including baked goods, sandwiches, and fast-food meals. These boxes come in various sizes and made of cardboard, paperboard, and plastic. Cardboard and paperboard boxes are lightweight, biodegradable, and recyclable, making them an eco-friendly option. They also offer excellent insulation and protection for the food inside. These factors bolster the market growth for the boxes segment.

  • Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
  • Request discounts available for Start-Ups & Universities

REGIONAL ANALYSIS

Based on country, the Europe food packaging market is segmented into Germany, France, Italy, the UK, Russia, and the Rest of Europe. Germany was estimated to be around ~US$ 15,000 million in 2022. The convenience food market in Germany is growing steadily and transforming the German food industry. The evolution of Germany's convenience retail markets, including spanning supermarkets, independently run convenience stores, forecourt sites, discounters, and bakeries, has driven the food packaging market. As part of the new developments in Germany, consumers prefer convenient food and packaged foods for immediate consumption, and distributors work to meet their demands. Germany's status as a popular tourist destination and people's desire to consume food more outside of their homes boost sales of packaged food products in the country. Italy is expected to register a CAGR of ~5% from 2022 to 2030. The lifestyle of Italian families is changing with the rising number of working women. According to the World Health Organization, the labor force participation rate among females was 41%, and among males was 58.4% in 2022 in Italy. These factors have led to a robust demand for convenience foods, which helps in saving time and effort. The well-established distribution channels such as supermarkets & hypermarkets, online retail, and convenience stores have driven the sales of convenience food in the country. In addition, online shopping platforms gained tremendous traction during the COVID-19 pandemic. According to the US Department of Agriculture report published on June 23, 2021, Italy's food retail sales reached US$ 175 billion in 2020, registering an increase of 5.6% as compared to 2019. During the same year, online grocery shopping grew by 134.4%. The retail industry in Italy is highly diversified and is expected to offer new opportunities to the food packaging market. Furthermore, France is forecasted to be valued at ~US$ 17,000 million by 2030. In France, the hotel, restaurant, and institutional food service sector is highly competitive, offering a large scale of establishments with quality and diversity. There is a growing demand for different convenience food products in the country. Modern lifestyles in France often lead to busy schedules, making on-the-go dining and meal preparation increasingly common. As a result, consumers seek food products that are easy to carry, store, and consume. The rising preferences for RTE products create the demand for food packaging products. The growing online food delivery market in the country also boosts the Europe food packaging market growth.

INDUSTRY DEVELOPMENTS AND FUTURE OPPORTUNITIES

The report provides a detailed overview of the Europe food packaging market.

In March 2023, Hinojosa Packaging Group launched Foodservice, a new line of 100% recyclable packaging. This new line encompasses a collection of 100% recyclable primary packaging products designed for hot and cold beverages and 4th and 5th-range prepared foods.

In February 2023, ProAmpac launched ProActive Recyclable R-2050, a new patent-pending addition to this ProActive Recyclable series of polyethylene-based structures that it plans to introduce to the European market.

IMPACT OF COVID-19 PANDEMIC

The COVID-19 pandemic adversely affected almost all industries in various countries. Lockdowns, travel restrictions, and business shutdowns in European countries hampered the growth of several industries, including the packaging industry. The shutdown of manufacturing units of food packaging companies disturbed global supply chains, manufacturing activities, and delivery schedules. Various companies reported delays in product deliveries and a slump in their product sales in 2020. Most of the industrial manufacturing facilities were shut down during the pandemic, decreasing the use of food packaging. In addition, the COVID-19 pandemic caused fluctuations in packaging material prices. However, various industries revived their operations after supply constraints were resolved, which led to a revival of the Europe food packaging market. Moreover, the rising demand for food packaging from the food service sector promotes the Europe food packaging market growth.

COMPETITIVE LANDSCAPE AND KEY COMPANIES

Amcor Plc, Tetra Pak International SA, Crown Holdings Inc, Smurfit Kappa Group Plc, International Paper Co, DS Smith Plc, Ardagh Group SA, Huhtamaki Oyj, WestRock Co, and Pactiv Evergreen Inc are among the key players operating in the Europe food packaging market.

Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

Europe Food Packaging Market

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

This text is related
to country scope.

1. Introduction

1.1 The Insight Partners Research Report Guidance

1.2 Market Segmentation

2. Executive Summary

2.1 Key Insights

2.2 Market Attractiveness

3. Research Methodology

3.1 Coverage

3.2 Secondary Research

3.3 Primary Research

4. Europe Food Packaging Market Landscape

4.1 Overview

4.2 Porter's Five Forces Analysis

4.2.1 Threat of New Entrants:

4.2.2 Bargaining Power of Suppliers:

4.2.3 Bargaining Power of Buyers:

4.2.4 Competitive Rivalry:

4.2.5 Threat of Substitutes:

4.3 Ecosystem Analysis

4.3.1 Overview:

4.3.2 Raw Material Suppliers:

4.3.3 Manufacturers

4.3.4 Distributors or Suppliers

4.3.5 End Users

4.4 List of Vendors in the Value Chain

5. Europe Food Packaging Market – Key Market Dynamics

5.1 Market Drivers

5.1.1 Expansion of Organized Retail and E-Commerce

5.1.2 Increase in Demand for Convenience Food

5.2 Market Restraints

5.2.1 Stringent Government Regulations Related to Food Packaging

5.3 Market Opportunities

5.3.1 Increasing Focus on Sustainable and Eco-Friendly Packaging

5.4 Future Trends

5.4.1 Advancements in Smart and Active Packaging

5.5 Impact Analysis

6. Food Packaging Market - Europe Market Analysis

6.1 Europe Food Packaging Market Revenue (US$ Billion)

6.2 Europe Food Packaging Market Forecast and Analysis

7. Europe Food Packaging Market Analysis - Product Type

7.1 Trays

7.1.1 Overview

7.1.2 Trays Market Revenue and Forecast to 2030 (US$ Billion)

7.1.3 Molded Fiber

7.1.4 Plastic

7.1.5 Aluminum

7.1.6 Others

7.2 Bottles

7.2.1 Overview

7.2.2 Bottles Market Revenue and Forecast to 2030 (US$ Billion)

7.3 Tubs and Cups

7.3.1 Overview

7.3.2 Tubs and Cups Market Revenue and Forecast to 2030 (US$ Billion)

7.4 Boxes

7.4.1 Overview

7.4.2 Boxes Market Revenue and Forecast to 2030 (US$ Billion)

7.5 Others

7.5.1 Overview

7.5.2 Others Market Revenue and Forecast to 2030 (US$ Billion)

8. Europe Food Packaging Market Analysis – Application

8.1 Commercial Catering

8.1.1 Overview

8.1.2 Commercial Catering Market Revenue, and Forecast to 2030 (US$ Billion)

8.2 Food-to-go

8.2.1 Overview

8.2.2 Food-to-go Market Revenue, and Forecast to 2030 (US$ Billion)

8.3 Ready to Eat Meals

8.3.1 Overview

8.3.2 Ready to Eat Meals Market Revenue and Forecast to 2030 (US$ Billion)

8.4 Others

8.4.1 Overview

8.4.2 Others Market Revenue and Forecast to 2030 (US$ Billion)

9. Europe Food Packaging Market - Geographical Analysis

9.1 Europe Food Packaging Market

9.1.1 Overview

9.1.2 Europe Food Packaging Market Breakdown by Country

9.1.2.1 Europe Food Packaging Market Breakdown by Country

9.1.2.2 Germany Food Packaging Market Revenue and Forecasts To 2030 (US$ Billion)

9.1.2.2.1 Germany Food Packaging Market Breakdown by Product Type

9.1.2.2.2 Germany Food Packaging Market Breakdown by Application

9.1.2.3 France Food Packaging Market Revenue and Forecasts To 2030 (US$ Billion)

9.1.2.3.1 France Food Packaging Market Breakdown by Product Type

9.1.2.3.2 France Food Packaging Market Breakdown by Application

9.1.2.4 Italy Food Packaging Market Revenue and Forecasts To 2030 (US$ Billion)

9.1.2.4.1 Italy Food Packaging Market Breakdown by Product Type

9.1.2.4.2 Italy Food Packaging Market Breakdown by Application

9.1.2.5 UK Food Packaging Market Revenue and Forecasts To 2030 (US$ Billion)

9.1.2.5.1 UK Food Packaging Market Breakdown by Product Type

9.1.2.5.2 UK Food Packaging Market Breakdown by Application

9.1.2.6 Russia Food Packaging Market Revenue and Forecasts To 2030 (US$ Billion)

9.1.2.6.1 Russia Food Packaging Market Breakdown by Product Type

9.1.2.6.2 Russia Food Packaging Market Breakdown by Application

9.1.2.7 Rest of Europe Food Packaging Market Revenue and Forecasts To 2030 (US$ Billion)

9.1.2.7.1 Rest of Europe Food Packaging Market Breakdown by Product Type

9.1.2.7.2 Rest of Europe Food Packaging Market Breakdown by Application

10. Impact of COVID-19 Pandemic on Europe Food Packaging Market

10.1 Pre & Post Covid-19 Impact

11. Industry Landscape

11.1 Overview

11.2 Expansion

11.3 New Product Development

11.4 Merger and Acquisition

11.5 Partnerships

11.6 Other Business Strategies

12. Competitive Landscape

12.1 Heat Map Analysis by Key Players

12.2 Company Positioning & Concentration

13. Company Profiles

13.1 Amcor Plc

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 Tetra Pak International SA

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 Crown Holdings Inc

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 Smurfit Kappa Group Plc

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 International Paper Co

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 DS Smith Plc

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 Ardagh Group SA

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 Huhtamaki Oyj

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 WestRock Co

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 Pactiv Evergreen Inc

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

List of Tables

Table 1. Europe Food Packaging Market Segmentation

Table 2. List of Raw Material Suppliers in Value Chain:

Table 3. List of Manufacturers in Value Chain:

Table 4. Europe Food Packaging Market Revenue and Forecasts To 2030 (US$ Billion)

Table 5. Europe Food Packaging Market Revenue and Forecasts To 2030 (US$ Billion) – Product Type

Table 6. Europe Food Packaging Market Revenue and Forecasts To 2030 (US$ Billion) – Application

Table 7. Germany Food Packaging Market Revenue and Forecasts To 2030 (US$ Billion) – Product Type

Table 8. Germany Food Packaging Market Revenue and Forecasts To 2030 (US$ Billion) – Application

Table 9. France Food Packaging Market Revenue and Forecasts To 2030 (US$ Billion) – Product Type

Table 10. France Food Packaging Market Revenue and Forecasts To 2030 (US$ Billion) – Application

Table 11. Italy Food Packaging Market Revenue and Forecasts To 2030 (US$ Billion) – Product Type

Table 12. Italy Food Packaging Market Revenue and Forecasts To 2030 (US$ Billion) – Application

Table 13. UK Food Packaging Market Revenue and Forecasts To 2030 (US$ Billion) – Product Type

Table 14. UK Food Packaging Market Revenue and Forecasts To 2030 (US$ Billion) – Application

Table 15. Russia Food Packaging Market Revenue and Forecasts To 2030 (US$ Billion) – Product Type

Table 16. Russia Food Packaging Market Revenue and Forecasts To 2030 (US$ Billion) – Application

Table 17. Rest of Europe Food Packaging Market Revenue and Forecasts To 2030 (US$ Billion) – Product Type

Table 18. Rest of Europe Food Packaging Market Revenue and Forecasts To 2030 (US$ Billion) – Application

List of Figures

Figure 1. Europe Food Packaging Market Segmentation, By Country

Figure 2. Europe Food Packaging Market – Porter’s Analysis

Figure 3. Ecosystem: Food Packaging Market

Figure 4. Market Dynamics: Europe Food Packaging Market

Figure 5. Europe Food Packaging Market Impact Analysis of Drivers and Restraints

Figure 6. Europe Food Packaging Market Revenue (US$ Billion), 2020 – 2030

Figure 7. Europe Food Packaging Market Share (%) – Product Type, 2022 and 2030

Figure 8. Trays Market Revenue and Forecasts To 2030 (US$ Billion)

Figure 9. Bottles Market Revenue and Forecasts To 2030 (US$ Billion)

Figure 10. Tubs and Cups Market Revenue and Forecasts To 2030 (US$ Billion)

Figure 11. Boxes Market Revenue and Forecasts To 2030 (US$ Billion)

Figure 12. Others Market Revenue and Forecasts To 2030 (US$ Billion)

Figure 13. Europe Food Packaging Market Share (%) –Application, 2022 and 2030

Figure 14. Commercial Catering Market Revenue and Forecasts To 2030 (US$ Billion)

Figure 15. Food-to-go Market Revenue and Forecasts To 2030 (US$ Billion)

Figure 16. Ready to Eat Meals Market Revenue and Forecasts To 2030 (US$ Billion)

Figure 17. Others Market Revenue and Forecasts To 2030 (US$ Billion)

Figure 18. Europe Food Packaging Market Breakdown by Key Countries, 2022 And 2030 (%)

Figure 19. Germany Food Packaging Market Revenue and Forecasts To 2030 (US$ Billion)

Figure 20. France Food Packaging Market Revenue and Forecasts To 2030 (US$ Billion)

Figure 21. Italy Food Packaging Market Revenue and Forecasts To 2030 (US$ Billion)

Figure 22. UK Food Packaging Market Revenue and Forecasts To 2030 (US$ Billion)

Figure 23. Russia Food Packaging Market Revenue and Forecasts To 2030 (US$ Billion)

Figure 24. Rest of Europe Food Packaging Market Revenue and Forecasts To 2030 (US$ Billion)

Figure 25. Company Positioning & Concentration

Figure 26. Heat Map Analysis by Key Players

The List of Companies - Europe Food Packaging Market 

  1. Amcor Plc
  2. Tetra Pak International SA
  3. Crown Holdings Inc
  4. Smurfit Kappa Group Plc
  5. International Paper Co
  6. DS Smith Plc
  7. Ardagh Group SA
  8. Huhtamaki Oyj
  9. WestRock Co
  10. Pactiv Evergreen Inc.

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. 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.

  1. 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:

Research Methodology

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.

  1. 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.

  1. 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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