Lidding Films Market Report, Global Industry Analysis, Market Size, Share, Growth Trends, Regional Outlook, Competitive Strategies and Segment Forecasts 2023 - 2030

  • Published Date: Jan, 2024
  • Report ID: CR0210219
  • Format: Electronic (PDF)
  • Number of Pages: 176
  • Author(s): Joshi, Madhavi

Report Overview

The Lidding Films Market size was estimated at USD 3.2 billion in 2023 and is projected to reach USD 5.5 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 7.90% during the forecast period (2024-2030).

Lidding Films Market

(Market Size)
$3.2 billion
$5.5 billion
2023
2030
Source: Citius Research
Study Period 2018 - 2030
Base Year For Estimation 2023
Forecast Data Period 2024 - 2030
CAGR (2024-2030) 7.90%
2023 Market Size USD 3.2 billion
2030 Market Size USD 5.5 billion
Key Players Amcor, Berry Global, Sealed Air, Coveris, Constantia Flexibles

Market Summary

The lidding films market is a critical segment within the packaging industry, primarily serving the food, beverage, pharmaceutical, and consumer goods sectors. These films are used as seals for containers, trays, and cups, providing protection against contamination, extending shelf life, and enhancing product presentation. The demand is driven by the need for convenient, safe, and sustainable packaging solutions. Innovations in material science have led to the development of high-barrier films that offer superior oxygen, moisture, and aroma resistance. Key players are focusing on producing films that are easy to peel, resealable, and compatible with various packaging formats. The market is characterized by intense competition and continuous technological advancements aimed at meeting evolving regulatory standards and consumer preferences for eco-friendly options.

Key Highlights

Significant developments in the lidding films market include the adoption of sustainable materials such as bio-based and recyclable polymers, aligning with global environmental initiatives. Advanced manufacturing techniques like co-extrusion and lamination have enabled the production of multi-layer films with enhanced functional properties. The integration of smart packaging features, such as tamper-evidence and freshness indicators, is gaining traction. Major industry participants are expanding their product portfolios through strategic acquisitions and partnerships to strengthen their market presence. The shift towards flexible packaging from rigid alternatives is a notable trend, driven by cost efficiency and reduced material usage. Additionally, the COVID-19 pandemic has accelerated demand for hygienic and secure packaging solutions, further propelling market growth.

Drivers, Opportunities & Restraints

Primary drivers for the lidding films market include the rising consumption of packaged foods and beverages, coupled with increasing health consciousness among consumers demanding longer shelf life and product safety. Growth in the pharmaceutical industry, particularly for blister packaging and medical device sealing, also fuels demand. Opportunities abound in emerging economies where urbanization and disposable incomes are rising, creating new markets for packaged goods. The development of compostable and biodegradable lidding films presents a significant opportunity to cater to environmentally aware consumers. However, restraints include fluctuating raw material prices, such as those for polyethylene and polypropylene, which impact production costs. Stringent regulations regarding plastic usage and recycling challenges pose additional hurdles, necessitating innovation in sustainable alternatives.

Concentration Insights

The lidding films market is moderately concentrated, with a mix of global giants and regional players dominating the landscape. Key companies like Amcor, Berry Global, and Constantia Flexibles hold substantial market shares due to their extensive product ranges and global distribution networks. These players invest heavily in research and development to introduce advanced materials and technologies. Regional manufacturers focus on catering to local demands with cost-effective solutions, often specializing in niche applications. Mergers and acquisitions are common strategies to enhance capabilities and expand geographical reach. The competitive environment encourages continuous innovation, particularly in sustainable packaging, to meet regulatory requirements and consumer expectations for eco-friendly products.

Type Insights

Lidding films are categorized based on materials into polyethylene, polypropylene, aluminum, and others, each offering distinct properties. Polyethylene films are widely used for their flexibility and sealability, ideal for dairy and ready-to-eat meals. Polypropylene variants provide high clarity and strength, suitable for microwaveable packaging. Aluminum lidding films excel in barrier protection, commonly used in pharmaceutical and specialty food applications. Emerging types include bio-based films made from polylactic acid (PLA) and other renewable resources, addressing sustainability concerns. Multi-layer films, combining different materials, are gaining popularity for their enhanced performance in terms of oxygen and moisture barrier, ensuring product integrity across various storage conditions.

Application Insights

In the food and beverage sector, lidding films are extensively used for packaging trays, cups, and bowls containing products like yogurts, desserts, and ready meals, ensuring freshness and preventing leakage. The pharmaceutical industry relies on these films for blister packaging of tablets and capsules, offering child resistance and tamper evidence. Consumer goods applications include sealing containers for personal care products and household items. The growth of e-commerce has increased demand for secure packaging solutions that protect goods during transit. Each application demands specific film characteristics; for instance, high-barrier films are crucial for oxygen-sensitive foods, while easy-peel features are preferred for convenience-oriented products.

Regional Insights

North America and Europe are mature markets for lidding films, driven by strict food safety regulations and high consumer awareness regarding sustainable packaging. The Asia-Pacific region is experiencing rapid growth due to expanding food processing industries, urbanization, and rising disposable incomes in countries like China and India. Latin America and the Middle East & Africa are emerging markets, with increasing adoption of packaged foods and pharmaceuticals fueling demand. Regional variations in regulatory frameworks influence material choices; for example, Europe's emphasis on circular economy principles promotes the use of recyclable films. Local manufacturers in these regions often tailor products to meet specific cultural and climatic conditions, enhancing market diversification.

Company Insights

Prominent companies in the lidding films market include Amcor, Berry Global, Constantia Flexibles, Uflex, and Winpak. These players emphasize innovation, developing films with improved barrier properties and sustainability credentials. Amcor focuses on recyclable and reusable solutions, aligning with its environmental commitments. Berry Global leverages its expertise in flexible packaging to offer a broad portfolio catering to diverse applications. Constantia Flexibles specializes in high-value films for pharmaceutical and food industries, often incorporating smart features. Regional players like Uflex in India and Winpak in North America compete through cost-effective and customized solutions, addressing local market needs. Strategic collaborations and capacity expansions are common to strengthen market positions.

Recent Developments

Recent developments in the lidding films market include the launch of sustainable products, such as films made from post-consumer recycled materials and compostable polymers. Companies are investing in advanced recycling technologies to support circular economy goals. Technological innovations have led to the introduction of films with enhanced seal integrity and compatibility with high-speed packaging machinery. Strategic acquisitions, such as Berry Global's purchase of RPC Group, have expanded product offerings and geographic reach. The pandemic has accelerated trends towards antimicrobial and hygienic packaging solutions, with new films incorporating properties that reduce surface contamination. Collaborations with brand owners to develop customized solutions for specific products are also prevalent.

Report Segmentation

This report on the lidding films market is segmented by material type, including polyethylene, polypropylene, aluminum, and others, to provide detailed insights into each segment's performance and trends. Application segmentation covers food and beverage, pharmaceutical, consumer goods, and other industries, highlighting specific demands and growth areas. Geographical segmentation analyzes North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa, offering regional market dynamics and opportunities. Additional segmentation by technology, such as high-barrier and breathable films, and by end-use packaging format, like trays and cups, ensures comprehensive coverage. This structured approach enables stakeholders to identify niche markets and make informed strategic decisions.

FAQs

What are lidding films? Lidding films are flexible packaging materials used to seal containers, providing protection against contamination and extending product shelf life. They are commonly made from plastics or aluminum and are essential in food, pharmaceutical, and consumer goods packaging.

What materials are used in lidding films? Common materials include polyethylene, polypropylene, aluminum, and bio-based polymers. Each material offers specific benefits, such as flexibility, barrier properties, or sustainability, depending on the application requirements.

How do lidding films enhance product safety? Lidding films provide a hermetic seal that prevents exposure to oxygen, moisture, and contaminants, thereby maintaining product integrity and safety. Features like tamper-evidence and freshness indicators further enhance security.

What are the sustainability trends in lidding films? Sustainability trends include the use of recyclable, compostable, and bio-based materials, reducing environmental impact. Companies are also focusing on lightweighting and improving recyclability to align with circular economy principles.

Which industries use lidding films? Key industries include food and beverage, pharmaceutical, and consumer goods. These films are used for packaging items like dairy products, medicines, and personal care items, ensuring protection and convenience.

What are the innovations in lidding films? Innovations include the development of high-barrier multi-layer films, smart packaging with freshness sensors, and easy-peel/reseal features. Advances in sustainable materials and manufacturing processes are also significant trends.

Citius Research has developed a research report titled “Lidding Films Market Report - Global Industry Analysis, Size, Share, Growth Trends, Regional Outlook, Competitive Strategies and Segment Forecasts 2024 - 2030” delivering key insights regarding business intelligence and providing concrete business strategies to clients in the form of a detailed syndicated report. The report details out the factors such as business environment, industry trend, growth opportunities, competition, pricing, global and regional market analysis, and other market related factors.

Details included in the report for the years 2024 through 2030

• Lidding Films Market Potential
• Segment-wise breakup
• Compounded annual growth rate (CAGR) for the next 6 years
• Key customers and their preferences
• Market share of major players and their competitive strength
• Existing competition in the market
• Price trend analysis
• Key trend analysis
• Market entry strategies
• Market opportunity insights

The report focuses on the drivers, restraints, opportunities, and challenges in the market based on various factors geographically. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report. The Lidding Films Market report is segmented on the basis of various market segments and their analysis, both in terms of value and volume, for each region for the period under consideration.

Lidding Films Market Segmentation

Market Segmentation

Regions Covered

• North America
• Latin America
• Europe
• MENA
• Asia Pacific
• Sub-Saharan Africa and
• Australasia

Lidding Films Market Analysis

The report covers below mentioned analysis, but is not limited to:

• Overview of Lidding Films Market
• Research Methodology
• Executive Summary
• Market Dynamics of Lidding Films Market
  • Driving Factors
  • Restraints
  • Opportunities
• Global Market Status and Forecast by Segment A
• Global Market Status and Forecast by Segment B
• Global Market Status and Forecast by Segment C
• Global Market Status and Forecast by Regions
• Upstream and Downstream Market Analysis of Lidding Films Market
• Cost and Gross Margin Analysis of Lidding Films Market
• Lidding Films Market Report - Global Industry Analysis, Size, Share, Growth Trends, Regional Outlook, Competitive Strategies and Segment Forecasts 2024 - 2030
  • Competition Landscape
  • Market Share of Major Players
• Key Recommendations

The “Lidding Films Market Report - Global Industry Analysis, Size, Share, Growth Trends, Regional Outlook, Competitive Strategies and Segment Forecasts 2024 - 2030” report helps the clients to take business decisions and to understand strategies of major players in the industry. The report delivers the market driven results supported by a mix of primary and secondary research. The report provides the results triangulated through authentic sources and upon conducting thorough primary interviews with the industry experts. The report includes the results on the areas where the client can focus and create point of parity and develop a competitive edge, based on real-time data results.

Lidding Films Market Key Stakeholders

Below are the key stakeholders for the Lidding Films Market:

• Manufacturers
• Distributors/Traders/Wholesalers
• Material/Component Manufacturers
• Industry Associations
• Downstream vendors

Lidding Films Market Report Scope

Report AttributeDetails
Base year2023
Historical data2018 – 2023
Forecast2024 - 2030
CAGR2024 - 2030
Quantitative UnitsValue (USD Million)
Report coverageRevenue Forecast, Competitive Landscape, Growth Factors, Trends and Strategies. Customized report options available on request
Segments coveredProduct type, technology, application, geography
Regions coveredNorth America, Latin America, Europe, MENA, Asia Pacific, Sub-Saharan Africa and Australasia
Countries coveredUS, UK, China, Japan, Germany, India, France, Brazil, Italy, Canada, Russia, South Korea, Australia, Spain, Mexico and others
Customization scopeAvailable on request
PricingVarious purchase options available as per your research needs. Discounts available on request

COVID-19 Impact Analysis

Like most other markets, the outbreak of COVID-19 had an unfavorable impact on the Lidding Films Market worldwide. This report discusses in detail the disruptions experienced by the market, the impact on flow of raw materials, manufacturing operations, production trends, consumer demand and the projected future of this market post pandemic.

The report has helped our clients:

• To describe and forecast the Lidding Films Market size, on the basis of various segmentations and geography, in terms of value and volume
• To measure the changing needs of customers/industries
• To provide detailed information regarding the drivers, restraints, opportunities, and challenges influencing the growth of the market
• To gain competitive intelligence and uncover new opportunities
• To analyse opportunities in the market for stakeholders by identifying high-growth segments in Lidding Films Market
• To strategically profile key players and provide details of the current competitive landscape
• To analyse strategic approaches adopted by players in the market, such as product launches and developments, acquisitions, collaborations, contracts, expansions, and partnerships

Report Customization

Citius Research provides free customization of reports as per your need. This report can be personalized to meet your requirements. Get in touch with our sales team, who will guarantee you to get a report that suits your necessities.

Customize This Report

Frequently Asked Questions

The Global Lidding Films Market size was valued at $XX billion in 2023 and is anticipated to reach $XX billion by 2030 growing at a CAGR of XX%
The global Lidding Films Market is expected to grow at a CAGR of XX% from 2023 to 2030.
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Table of Contents

Chapter 1. Introduction
  1.1. Market Scope
  1.2. Key Segmentations
  1.3. Research Objective
Chapter 2. Research Methodology & Assumptions
Chapter 3. Executive Summary
Chapter 4. Market Background
  4.1. Dynamics
    4.1.1. Drivers
    4.1.2. Restraints
    4.1.3. Opportunity
    4.1.4. Challenges
  4.2. Key Trends in the Impacting the Market
    4.2.1. Demand & Supply
  4.3. Industry SWOT Analysis
  4.4. Porter’s Five Forces Analysis
  4.5. Value and Supply Chain Analysis
  4.6. Macro-Economic Factors
  4.7. COVID-19 Impact Analysis
    4.7.1. Global and Regional Assessment
  4.8. Profit Margin Analysis
  4.9. Trade Analysis
    4.9.1. Importing Countries
    4.9.2. Exporting Countries
  4.10. Market Entry Strategies
  4.11. Market Assessment (US$ Mn and Units)
Chapter 5. Global Lidding Films Market Size (US$ Mn and Units), Forecast and Trend Analysis, By Segment A
  5.1. By Segment A, 2024 - 2030
    5.1.1. Sub-Segment A
    5.1.2. Sub-Segment B
  5.2. Opportunity Analysis
Chapter 6. Global Lidding Films Market Size (US$ Mn and Units), Forecast and Trend Analysis, By Segment B
  6.1. By Segment B, 2024 - 2030
    6.1.1. Sub-Segment A
    6.1.2. Sub-Segment B
  6.2. Opportunity Analysis
Chapter 7. Global Lidding Films Market Size (US$ Mn and Units), Forecast and Trend Analysis, By Segment C
  7.1. By Segment C, 2024 - 2030
    7.1.1. Sub-Segment A
    7.1.2. Sub-Segment B
  7.2. Opportunity Analysis
Chapter 8. Global Lidding Films Market Size (US$ Mn and Units), Forecast and Trend Analysis, By Region
  8.1. By Region, 2024 - 2030
    8.1.1. North America
    8.1.2. Latin America
    8.1.3. Europe
    8.1.4. MENA
    8.1.5. Asia Pacific
    8.1.6. Sub-Saharan Africa
    8.1.7. Australasia
  8.2. Opportunity Analysis
Chapter 9. North America Lidding Films Market Forecast and Trend Analysis
  9.1. Regional Overview
  9.2. Pricing Analysis
  9.3. Key Trends in the Region
    9.3.1. Supply and Demand
  9.4. Demographic Structure
  9.5. By Segment A , 2024 - 2030, (US$ Mn and Units)
    9.5.1. Sub-Segment A
    9.5.2. Sub-Segment B
  9.6. By Segment B, 2024 - 2030, (US$ Mn and Units)
    9.6.1. Sub-Segment A
    9.6.2. Sub-Segment B
  9.7. By Segment C, 2024 - 2030, (US$ Mn and Units)
    9.7.1. Sub-Segment A
    9.7.2. Sub-Segment B
  9.8. By Country, 2024 - 2030, (US$ Mn and Units)
    9.8.1. U.S.
    9.8.2. Canada
    9.8.3. Rest of North America
  9.9. Opportunity Analysis
Chapter 10. Latin America Lidding Films Market Forecast and Trend Analysis
  10.1. Regional Overview
  10.2. Pricing Analysis
  10.3. Key Trends in the Region
    10.3.1. Supply and Demand
  10.4. Demographic Structure
  10.5. By Segment A , 2024 - 2030, (US$ Mn and Units)
    10.5.1. Sub-Segment A
    10.5.2. Sub-Segment B
  10.6. By Segment B, 2024 - 2030, (US$ Mn and Units)
    10.6.1. Sub-Segment A
    10.6.2. Sub-Segment B
  10.7. By Segment C, 2024 - 2030, (US$ Mn and Units)
    10.7.1. Sub-Segment A
    10.7.2. Sub-Segment B
  10.8. By Country, 2024 - 2030, (US$ Mn and Units)
    10.8.1. Brazil
    10.8.2. Argentina
    10.8.3. Rest of Latin America
  10.9. Opportunity Analysis
Chapter 11. Europe Lidding Films Market Forecast and Trend Analysis
  11.1. Regional Overview
  11.2. Pricing Analysis
  11.3. Key Trends in the Region
    11.3.1. Supply and Demand
  11.4. Demographic Structure
  11.5. By Segment A , 2024 - 2030, (US$ Mn and Units)
    11.5.1. Sub-Segment A
    11.5.2. Sub-Segment B
  11.6. By Segment B, 2024 - 2030, (US$ Mn and Units)
    11.6.1. Sub-Segment A
    11.6.2. Sub-Segment B
  11.7. By Segment C, 2024 - 2030, (US$ Mn and Units)
    11.7.1. Sub-Segment A
    11.7.2. Sub-Segment B
  11.8. By Country, 2024 - 2030, (US$ Mn and Units)
    11.8.1. UK
    11.8.2. Germany
    11.8.3. France
    11.8.4. Spain
    11.8.5. Rest of Europe
  11.9. Opportunity Analysis
Chapter 12. MENA Lidding Films Market Forecast and Trend Analysis
  12.1. Regional Overview
  12.2. Pricing Analysis
  12.3. Key Trends in the Region
    12.3.1. Supply and Demand
  12.4. Demographic Structure
  12.5. By Segment A , 2024 - 2030, (US$ Mn and Units)
    12.5.1. Sub-Segment A
    12.5.2. Sub-Segment B
  12.6. By Segment B, 2024 - 2030, (US$ Mn and Units)
    12.6.1. Sub-Segment A
    12.6.2. Sub-Segment B
  12.7. By Segment C, 2024 - 2030, (US$ Mn and Units)
    12.7.1. Sub-Segment A
    12.7.2. Sub-Segment B
  12.8. By Country, 2024 - 2030, (US$ Mn and Units)
    12.8.1. Egypt
    12.8.2. Algeria
    12.8.3. GCC
    12.8.4. Rest of MENA
  12.9. Opportunity Analysis
Chapter 13. Asia Pacific Lidding Films Market Forecast and Trend Analysis
  13.1. Regional Overview
  13.2. Pricing Analysis
  13.3. Key Trends in the Region
    13.3.1. Supply and Demand
  13.4. Demographic Structure
  13.5. By Segment A , 2024 - 2030, (US$ Mn and Units)
    13.5.1. Sub-Segment A
    13.5.2. Sub-Segment B
  13.6. By Segment B, 2024 - 2030, (US$ Mn and Units)
    13.6.1. Sub-Segment A
    13.6.2. Sub-Segment B
  13.7. By Segment C, 2024 - 2030, (US$ Mn and Units)
    13.7.1. Sub-Segment A
    13.7.2. Sub-Segment B
  13.8. By Country, 2024 - 2030, (US$ Mn and Units)
    13.8.1. India
    13.8.2. China
    13.8.3. Japan
    13.8.4. ASEAN
    13.8.5. Rest of Asia Pacific
  13.9. Opportunity Analysis
Chapter 14. Sub-Saharan Africa Lidding Films Market Forecast and Trend Analysis
  14.1. Regional Overview
  14.2. Pricing Analysis
  14.3. Key Trends in the Region
    14.3.1. Supply and Demand
  14.4. Demographic Structure
  14.5. By Segment A , 2024 - 2030, (US$ Mn and Units)
    14.5.1. Sub-Segment A
    14.5.2. Sub-Segment B
  14.6. By Segment B, 2024 - 2030, (US$ Mn and Units)
    14.6.1. Sub-Segment A
    14.6.2. Sub-Segment B
  14.7. By Segment C, 2024 - 2030, (US$ Mn and Units)
    14.7.1. Sub-Segment A
    14.7.2. Sub-Segment B
  14.8. By Country, 2024 - 2030, (US$ Mn and Units)
    14.8.1. Ethiopia
    14.8.2. Nigeria
    14.8.3. Rest of Sub-Saharan Africa
  14.9. Opportunity Analysis
Chapter 15. Australasia Lidding Films Market Forecast and Trend Analysis
  15.1. Regional Overview
  15.2. Pricing Analysis
  15.3. Key Trends in the Region
    15.3.1. Supply and Demand
  15.4. Demographic Structure
  15.5. By Segment A , 2024 - 2030, (US$ Mn and Units)
    15.5.1. Sub-Segment A
    15.5.2. Sub-Segment B
  15.6. By Segment B, 2024 - 2030, (US$ Mn and Units)
    15.6.1. Sub-Segment A
    15.6.2. Sub-Segment B
  15.7. By Segment C, 2024 - 2030, (US$ Mn and Units)
    15.7.1. Sub-Segment A
    15.7.2. Sub-Segment B
  15.8. By Country, 2024 - 2030, (US$ Mn and Units)
    15.8.1. Australia
    15.8.2. New Zealand
    15.8.3. Rest of Australasia
  15.9. Opportunity Analysis
Chapter 16. Competition Analysis
  16.1. Competitive Benchmarking
    16.1.1. Top Player’s Market Share
    16.1.2. Price and Product Comparison
  16.2. Company Profiles
    16.2.1. Company A
      16.2.1.1. Company Overview
      16.2.1.2. Segmental Revenue
      16.2.1.3. Product Portfolio
      16.2.1.4. Key Developments
      16.2.1.5. Strategic Outlook
    16.2.2. Company B
      16.2.2.1. Company Overview
      16.2.2.2. Segmental Revenue
      16.2.2.3. Product Portfolio
      16.2.2.4. Key Developments
      16.2.2.5. Strategic Outlook
    16.2.3. Company C
      16.2.3.1. Company Overview
      16.2.3.2. Segmental Revenue
      16.2.3.3. Product Portfolio
      16.2.3.4. Key Developments
      16.2.3.5. Strategic Outlook
    16.2.4. Company D
      16.2.4.1. Company Overview
      16.2.4.2. Segmental Revenue
      16.2.4.3. Product Portfolio
      16.2.4.4. Key Developments
      16.2.4.5. Strategic Outlook
    16.2.5. Company E
      16.2.5.1. Company Overview
      16.2.5.2. Segmental Revenue
      16.2.5.3. Product Portfolio
      16.2.5.4. Key Developments
      16.2.5.5. Strategic Outlook
    16.2.6. Company F
      16.2.6.1. Company Overview
      16.2.6.2. Segmental Revenue
      16.2.6.3. Product Portfolio
      16.2.6.4. Key Developments
      16.2.6.5. Strategic Outlook
    16.2.7. Company G
      16.2.7.1. Company Overview
      16.2.7.2. Segmental Revenue
      16.2.7.3. Product Portfolio
      16.2.7.4. Key Developments
      16.2.7.5. Strategic Outlook
    16.2.8. Company H
      16.2.8.1. Company Overview
      16.2.8.2. Segmental Revenue
      16.2.8.3. Product Portfolio
      16.2.8.4. Key Developments
      16.2.8.5. Strategic Outlook
    16.2.9. Company I
      16.2.9.1. Company Overview
      16.2.9.2. Segmental Revenue
      16.2.9.3. Product Portfolio
      16.2.9.4. Key Developments
      16.2.9.5. Strategic Outlook
    16.2.10. Company J
      16.2.10.1. Company Overview
      16.2.10.2. Segmental Revenue
      16.2.10.3. Product Portfolio
      16.2.10.4. Key Developments
      16.2.10.5. Strategic Outlook
Chapter 17. Go-To-Market Strategy

Research Methodology

We follow a robust research methodology to analyze the market in order to provide our clients with qualitative and quantitative analysis which has a very low or negligible deviance. Extensive secondary research supported by primary data collection methods help us to thoroughly understand and gauge the market. We incorporate both top-down and bottom-up approach for estimating the market. The below mentioned methods are then adopted to triangulate and validate the market.

Secondary data collection and interpretation

Secondary research includes sources such as published books, articles in journals, news media and published businesses, government and international body publications, and associations. Sources also include paid databases such as Hoovers, Thomson Reuters, Passport and others. Data derived through secondary sources is further validated through primary sources. The secondary sources also include major manufacturers mapped on the basis of revenues, product portfolios, and sales channels.

Primary data collection

Primary data collection methods include conducting interviews with industry experts and various stakeholders across the supply chain, such as raw material suppliers, manufacturers, product distributors and customers. The interviews are either telephonic or face-to-face, or even a combination of both. Prevailing trends in the industry are gathered by conducting surveys. Primary interviews also help us to understand the market drivers, restraints and opportunities, along with the challenges in the market. This method helps us in validating the data gathered through secondary sources, further triangulating the data and developing it through our statistical tools. We generally conduct interviews with -

  • CEOs, Directors, and VPs
  • Sales and Marketing Managers
  • Plant Heads and Manufacturing Department Heads
  • Product Specialists

Supply Side and Demand Side Data Collection

Supply side analysis is based on the data collected from the manufacturers and the product providers in terms of their segmental revenues. Secondary sources for this type of analysis include company annual reports and publications, associations and organisations, government publications and others.

Demand side analysis is based upon the consumer insights who are the end users of the particular product in question. They could be an individual user or an organisation. Such data is gathered through consumer surveys and focused group interviews.

Market Engineering

As a primary step, in order to develop the market numbers we follow a vigorous methodology that includes studying the parent market of the niche product and understanding the industry trends, acceptance among customers of the product, challenges, future growth, and others, followed by further breaking down the market under consideration into various segments and sub-markets. Additionally, in order to cross-validate the market, we also determine the top players in the market, along with their segmental revenues for the said market. Our secondary sources help us to validate the market share of the top players. Using both the qualitative and quantitative analysis of all the possible factors helps us determine the market numbers which are inclined towards accuracy.

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