North America Compostable Foodservice Packaging Market Key Players and Forecast by 2027
North America Compostable Foodservice Packaging Market Forecast to 2027 - COVID-19 Impact and Regional Analysis by Packaging Type (Trays, Cups and Plates, Cutlery, Clamshell, Bowls, Pouches and Sachets, and Others) and Material (Paper and Paperboard, Compostable Plastic (Bio-Plastic), and Others
- Report Date : Jan 2021
- Report Code : TIPRE00018206
- Category : Chemicals and Materials
- Status : Published
- Available Report Formats :
- No. of Pages : 115
The compostable foodservice packaging market in North America was valued at US$ 4,051.36 million in 2019 and is projected to reach US$ 6,139.42 million by 2027; it is expected to grow at a CAGR of 5.5% from 2020 to 2027.
Compostable packaging materials are those materials which do not cause any harm to the environment and can easily compost under certain given conditions. These types of packaging materials are composed of organic matter and do not involve the use of fossil fuels in production. This serves as one of the potential benefit for the growth of the market as there is minimum or no need to create burden on fossil fuel. With the growth of foodservice industry along with rising inclination towards environment friendly packaging materials, the use of compostable packaging materials in foodservice has risen considerably. With the rising concerns towards depletion of natural resources coupled with growing focus towards environment sustainability and zero-waste, the use of compostable form of plant-based material is expected to gain traction in foodservice industry.
In 2019, the US contributed to the largest share in the North America compostable foodservice packaging market. The growth of the compostable foodservice packaging market in this country is primarily attributed to a significant shift of the consumers towards convenience food. The population growth, the surge in disposable income, and an increase in the working population are creating a need for more packaged and ready-to-cook food. The busy lifestyle of the working populace has increased the consumption of convenience food, which has boosted the growth of compostable foodservice packaging in the US. The compostable foodservice packaging also provides safety and is hygienic, which are other reasons for the growing demand for compostable foodservice packaging products. The companies present in the foodservice packaging sector continuously focus on new trends and enhancement in food packaging, improving food quality and safety. Besides, with many innovations, like biodegradable plastic and bioplastic that can mitigate environmental risk, hence the demand for plastic material is rising in the US.
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North America Compostable Foodservice Packaging Market: Strategic Insights
Market Size Value in US$ 4,051.36 Million in 2019 Market Size Value by US$ 6,139.42 Million by 2027 Growth rate CAGR of 5.5% from 2020-2027 Forecast Period 2020-2027 Base Year 2020
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North America Compostable Foodservice Packaging Market: Strategic Insights
| Market Size Value in | US$ 4,051.36 Million in 2019 |
| Market Size Value by | US$ 6,139.42 Million by 2027 |
| Growth rate | CAGR of 5.5% from 2020-2027 |
| Forecast Period | 2020-2027 |
| Base Year | 2020 |
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The COVID-19 pandemic was first reported in Wuhan, China, in December 2019. The pandemic is adversely affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns imposed by governments. Chemical and material is one of the major industries suffering serious disruptions such as supply chain breaks, technology events cancellations, and office shutdowns. The US has the highest number of confirmed cases of COVID-19, as, compared to Canada and Mexico. This is likely to impact the chemicals & materials industry in the region as, due to the COVID-19, the supply chain is likely to get affected and may negatively impact the North America compostable foodservice packaging market.
Market Insights
Advancement and Development in The Packaging Industry
Packaging food materials ensure smooth logistics, also provides adequate product protection, and significantly influences consumer purchasing behaviour. Packaging, therefore, fulfils many different functions, plus it also meets an endless diversity of customer requirements. The recent increase in incomes in developed countries has led to a rise in living standards that includes significantly higher consumption of packaged foods. As a result, food safety guidelines have been more stringent than ever. Since packaging first became a “thing” on the internet of things, its role in the customer journey has extended far beyond the shelf. This has had a transformative effect in several ways, including smart packaging, which helps cut down food waste in complex, global supply chains. Technology is also improving the packaging industry. Advancements in plastic and paper chemistry now allow recycling to be more comfortable and more convenient than ever. Thus, advancement and development in the packaging industry have boosted the North American compostable foodservice packaging market in the forecast period.Packaging Type Insights
Based on packaging type, the compostable foodservice packaging market is bifurcated into trays, cups and plates, cutlery, clamshell, bowls, and pouches and sachets, and others. The cups and plates segment dominated the market in 2019 and is expected to register a higher CAGR during the forecast period. Cups and plates are leak-proof disposables and eco-friendly, which are made out of recycled paper. The rising demand for eco-friendly, sustainable, and safe cutlery, owing to increasing restaurants, fast food joints, and cafeterias, drives the need for compostable plates and cups. Environment-friendly cutleries such as disposable plates and cups are considered as a feasible alternative which offers convenience in handling and does not affect environment. The market for cups and plates in North America is primarily driven by the well-established food and beverage industry in the country. Characterized by the hectic lifestyle of most of its population, North America stands as a witness to a steadily increasing fast food consumption. The on-the-go coffee culture has also led to the expansion of prominent coffee shops, which has boosted the sales of cups and plates for serving and packing beverages and snacks. Moreover, numerous eminent brands, such as Starbucks, are replacing plastic packaging with cups and plates, owing to the enhanced focus towards sustainable development. Various market players are also introducing 100% recyclable, compostable disposables made with fiber-based raw materials.Material Insights
Based on material, the compostable foodservice packaging market is bifurcated into paper and paperboard, compostable plastic (bio-plastic), and others. The paper and paperboard segment led the compostable foodservice packaging market in 2019. Paper sees renewed interest as a packaging alternative, especially in foodservice markets. Functional paper-based boxboard barrier material engineered for takeout food containers and more are certified as compostable. The demand for paper and paperboard have increased with the growing concept towards recyclability and sustainability. The use of paper based packaging helps to effectively renew, recycle and compost the material along with adding the value to the product in rising eco-conscious consumer market. The paper also provides an excellent printing substrate with the potential for high-quality graphics to communicate brand values (and sustainability credentials) virtually in terms of shelf-appeal. Packaging suppliers are switching their focus from plastic to paper and paperboard as it provides environmental benefits in terms of renewability, recyclability, and compostability and is creating a vision of long-term commercial viability in future. Paper-based packaging appears well-positioned for a continued upward trend in a North America market driven by a sustainability plan.A few players operating in the North America compostable foodservice packaging market are Genpak, LLC; Good Start Packaging; Dart Container Corporation; Graphic Packaging International, LLC; WestRock Company; Be Green Packaging; Biobag Canada Inc.; ECO PRODUCTS INC. among many others. Major players in the market focus on strategies such as mergers and acquisitions, and product launch to increase the geographical presence and consumer base globally. For instance, in 2019, Eco-Products, a brand of Novolex, has announced the launch of a line of compostable utensils for use in Cutlerease, a new dispenser offering consumers one fork, knife, or spoon at a time. The patented system improves cleanliness, eliminates waste, saves space and provides consumers with a more efficient way to purchase compostable utensils.
Report Spotlights
- Progressive industry trends in the North America compostable foodservice packaging market to help players develop effective long-term strategies
- Business growth strategies adopted by developed and developing markets
- Quantitative analysis of the market from 2017 to 2027
- Estimation of the demand for compostable foodservice packaging across various industries
- PEST analysis to illustrate the efficacy of buyers and suppliers operating in the industry to predict market growth
- Recent developments to understand the competitive market scenario and the demand for compostable foodservice packaging
- Market trends and outlook coupled with factors driving and restraining the market growth
- Decision-making process by understanding strategies that underpin commercial interest with regard to the market growth
- North America compostable foodservice packaging market size at various nodes of market
- Detailed overview and segmentation of the market as well as its dynamics in the industry
- Compostable foodservice packaging market size in various regions with promising growth opportunities
North America Compostable Foodservice Packaging Market – ByPackaging Type
- Trays
- Cups and Plates
- Cutlery
- Clamshell
- Bowls
- Pouches and Sachets
- Others
North America Compostable Foodservice Packaging Market – By Material
- Paper and Paperboard
- Compostable Plastic (Bio-Plastic)
- Others
North America Compostable Foodservice Packaging Market – By Country
- US
- Canada
- Mexico
Company Profiles
- Genpak, LLC
- Good Start Packaging
- Dart Container Corporation
- Graphic Packaging International, LLC
- WestRock Company
- Be Green Packaging
- Pactiv LLC
- Anchor Packaging
- Biobag Americas Inc.
- ECO PRODUCTS INC.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Packaging Type and Material, and Others
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Canada, Mexico, United States
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.1 Scope of the Study
3.2 Research Methodology
3.2.1 Data Collection:
3.2.2 Primary Interviews:
3.2.3 Hypothesis formulation:
3.2.4 Macro-economic factor analysis:
3.2.5 Developing base number:
3.2.6 Data Triangulation:
3.2.7 Country level data:
4. North America Compostable Foodservice Packaging Market Landscape
4.1 Market Overview
4.2 PEST Analysis
4.3 Expert Opinion
5. North America Compostable Foodservice Packaging Market – Key Market Dynamics
5.1 Market Drivers
5.1.1 Growing Demand for Foodservice Industry
5.1.2 Advancement and Development in The Packaging Industry
5.2 Restraint
5.2.1 High Price of Compostable Materials for Packaging
5.3 Opportunity
5.3.1 Focus on Sustainable Packaging Aims to Creates Opportunities
5.4 Future Trend
5.4.1 Rising Consumer Demand for Pre-Packed Food
5.5 Impact Analysis Of Drivers And Restraints
6. Compostable Foodservice Packaging – North America Market Analysis
6.1 North America Compostable Foodservice Packaging Market Overview
6.2 North America Compostable Foodservice Packaging Market –Revenue and Forecast to 2027 (US$ Million)
6.3 Market Positioning – Global Market Players
7. Compostable Foodservice Packaging Market Analysis – By Product Type
7.1 Overview
7.2 Compostable Foodservice Packaging Market, By Packaging Type (2019 and 2027)
7.3 Trays
7.3.1 Overview
7.3.2 Trays: Compostable Foodservice Packaging Market – Revenue, and Forecast to 2027 (US$ Million)
7.4 Cups and Plates
7.4.1 Overview
7.4.2 Cups and Plates: Compostable Foodservice Packaging Market – Revenue, and Forecast to 2027 (US$ Million)
7.5 Cutlery
7.5.1 Overview
7.5.2 Cutlery: Compostable Foodservice Packaging Market – Revenue, and Forecast to 2027 (US$ Million)
7.6 Clamshell
7.6.1 Overview
7.6.2 Clamshell: Compostable Foodservice Packaging Market – Revenue, and Forecast to 2027 (US$ Million)
7.7 Bowls
7.7.1 Overview
7.7.2 Bowls: Compostable Foodservice Packaging Market – Revenue, and Forecast to 2027 (US$ Million)
7.8 Pouches and Sachets
7.8.1 Overview
7.8.2 Pouches and Sachets: Compostable Foodservice Packaging Market – Revenue, and Forecast to 2027 (US$ Million)
7.9 Others
7.9.1 Overview
7.9.2 Others: Compostable Foodservice Packaging Market – Revenue, and Forecast to 2027 (US$ Million)
8. Compostable Foodservice Packaging Market Analysis – By Material
8.1 Overview
8.2 Compostable Foodservice Packaging Market, By Material (2019 and 2027)
8.3 Paper and Paperboard
8.3.1 Overview
8.3.2 Paper and Paperboard: Compostable Foodservice Packaging Market – Revenue, and Forecast to 2027 (US$ Million)
8.4 Compostable Plastic (Bio-Plastic)
8.4.1 Overview
8.4.2 Compostable Plastic (Bio-Plastic): Compostable Foodservice Packaging Market – Revenue, and Forecast to 2027 (US$ Million)
8.5 Others
8.5.1 Overview
8.5.2 Others: Compostable Foodservice Packaging Market – Revenue, and Forecast to 2027 (US$ Million)
9. Compostable Foodservice Packaging Market – Regional Analysis
9.1 Overview
9.1.1 North America: Compostable Foodservice Packaging Market – Revenue and Forecast to 2027(US$ Million)
9.1.2 North America: Compostable Foodservice Packaging Market, by Packaging Type
9.1.3 North America: Compostable Foodservice Packaging Market, by Material
9.1.4 North America: Compostable Foodservice Packaging Market, by Key Country
9.1.4.1 US: Compostable Foodservice Packaging Market –Revenue and Forecast to 2027 (US$ Million)
9.1.4.1.1 US: Compostable Foodservice Packaging Market, by Packaging Type
9.1.4.1.2 US: Compostable Foodservice Packaging Market, by Material
9.1.4.2 Canada: Compostable Foodservice Packaging Market –Revenue and Forecast to 2027 (US$ Million)
9.1.4.2.1 Canada: Compostable Foodservice Packaging Market, by Packaging Type
9.1.4.2.2 Canada: Compostable Foodservice Packaging Market, by Material
9.1.4.3 Mexico: Compostable Foodservice Packaging Market –Revenue and Forecast to 2027 (US$ Million)
9.1.4.3.1 Mexico: Compostable Foodservice Packaging Market, by Packaging Type
9.1.4.3.2 Mexico: Compostable Foodservice Packaging Market, by Material
10. Overview- Impact of COVID-19
10.1 North America: Impact Assessment of COVID-19 Pandemic
11. Industry Landscape
11.1 Product Development
11.2 Mergers and Acquisitions
12. Company Profiles
12.1 Genpak, LLC
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
12.2 Good Start Packaging
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
12.3 Dart Container 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
12.4 Graphic Packaging International, LLC
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
12.5 WestRock Company
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
12.6 Be Green Packaging
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
12.7 Pactiv LLC
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
12.8 Anchor Packaging
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
12.9 Biobag Americas Inc.
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
12.10 ECO PRODUCTS INC.
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
LIST OF TABLES
Table 1. North America: Compostable Foodservice Packaging Market –Revenue and Forecast to 2027 (US$ Million)
Table 2. North America Compostable Foodservice Packaging Market, by Packaging Type – Revenue and Forecast to 2027 (USD Million)
Table 3. North America Compostable Foodservice Packaging Market, by Material – Revenue and Forecast to 2027 (USD Million)
Table 4. US Compostable Foodservice Packaging Market, by Packaging Type – Revenue and Forecast to 2027 (USD Million)
Table 5. US Compostable Foodservice Packaging Market, by Material – Revenue and Forecast to 2027 (USD Million)
Table 6. Canada Compostable Foodservice Packaging Market, by Packaging Type – Revenue and Forecast to 2027 (USD Million)
Table 7. Canada Compostable Foodservice Packaging Market, by Material – Revenue and Forecast to 2027 (USD Million)
Table 8. Mexico Compostable Foodservice Packaging Market, by Packaging Type – Revenue and Forecast to 2027 (USD Million)
Table 9. Mexico Compostable Foodservice Packaging Market, by Material – Revenue and Forecast to 2027 (USD Million)
Table 10. Glossary of Terms, Global Compostable Foodservice Packaging Market
LIST OF FIGURES
Figure 1. North America Compostable Foodservice Packaging Market Segmentation
Figure 2. North America Compostable Foodservice Packaging Market Segmentation – By Country
Figure 3. North America Compostable Foodservice Packaging Market Overview
Figure 4. Cups and Plates Segment Held Largest Share of North America Compostable Foodservice Packaging Market
Figure 5. US Held Largest Share of North America Compostable Foodservice Packaging Market
Figure 6. North America Compostable Foodservice Packaging Market, Industry Landscape
Figure 7. North America: PEST Analysis
Figure 8. Expert Opinion
Figure 9. North America Compostable Foodservice Packaging Market Impact Analysis Of Driver And Restraints
Figure 10. Geographic Overview of Compostable Foodservice Packaging Market
Figure 11. North America: Compostable Foodservice Packaging Market – Revenue and Forecast to 2027 (US$ Million)
Figure 12. Compostable Foodservice Packaging Market Revenue Share, by Packaging Type (2019 and 2027)
Figure 13. Trays: Compostable Foodservice Packaging Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 14. Cups and Plates: Compostable Foodservice Packaging Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 15. Cutlery: Compostable Foodservice Packaging Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 16. Clamshell: Compostable Foodservice Packaging Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 17. Bowls: Compostable Foodservice Packaging Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 18. Pouches and Sachets: Compostable Foodservice Packaging Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 19. Others: Compostable Foodservice Packaging Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 20. Compostable Foodservice Packaging Market Revenue Share, by Material (2019 and 2027)
Figure 21. Paper and Paperboard: Compostable Foodservice Packaging Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 22. Compostable Plastic (Bio-Plastic): Compostable Foodservice Packaging Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 23. Others: Compostable Foodservice Packaging Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 24. North America: Compostable Foodservice Packaging Market – Revenue and Forecast to 2027 (US$ Million)
Figure 25. North America: Compostable Foodservice Packaging Market Revenue Share, by Packaging Type (2019 and 2027)
Figure 26. North America: Compostable Foodservice Packaging Market Revenue Share, by Material (2019 and 2027)
Figure 27. North America: Compostable Foodservice Packaging Market Revenue Share, by Key Country (2019 and 2027)
Figure 28. US: Compostable Foodservice Packaging Market –Revenue and Forecast to 2027 (US$ Million)
Figure 29. Canada: Compostable Foodservice Packaging Market –Revenue and Forecast to 2027 (US$ Million)
Figure 30. Mexico: Compostable Foodservice Packaging Market –Revenue and Forecast to 2027 (US$ Million)
Figure 31. Impact of COVID-19 Pandemic in North American Country Markets
The List of Companies - North America Compostable Foodservice Packaging Market
- Genpak, LLC;
- Good Start Packaging;
- Dart Container Corporation;
- Graphic Packaging International, LLC;
- WestRock Company;
- Be Green Packaging;
- Biobag Canada Inc.;
- ECO PRODUCTS INC.
- Pactiv, LLC
- Elk Packaging
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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