Cooler Box Market
Cooler Box Market Forecasts to 2028 - Global Analysis By Cooling Material (Wet Ice, Dry Ice, Eutectic Plates, Gel Packs, Insulated Blankets and Liquid Nitrogen), By Type (Disposable Cooler Boxes and Reusable Cooler Boxes), By Raw Material (Extruded Polystyrene, Expanded Polystyrene, Polyurethane Foam and Expanded Polypropylene), By End User (Food & Beverages, Pharmaceuticals and Other End Users) and By Geography
|
Years Covered |
2020-2028 |
|
Estimated Year Value (2022) |
US $5.99 BN |
|
Projected Year Value (2028) |
US $13.21 BN |
|
CAGR (2022 - 2028) |
14.1% |
|
Regions Covered |
North America, Europe, Asia Pacific, South America, and Middle East & Africa |
|
Countries Covered |
US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa |
|
Largest Market |
Asia Pacific |
|
Highest Growing Market |
Asia Pacific |
According to Stratistics MRC, the Global Cooler Box Market is accounted for $5.99 billion in 2022 and is expected to reach $13.21 billion by 2028 growing at a CAGR of 14.1% during the forecast period. One of the consumer storage items, cooler boxes are used to store pharmaceuticals as well as food and beverage products. The products kept within them receive low temperatures from them. They are often made of particular materials with the intention of providing insulation.
According to World health Organisation (WHO) regulations, the pharmaceutical products such as medicine, drugs, syringe, and others are strictly transfer or shipped or store in temperature controlled environment inside the insulated or enclosure box.
Market Dynamics:
Driver:
Increasing need for temperature control to prevent food loss and potential health hazards
The food sector is particularly focused on concerns including food waste reduction, economic and environmental sustainability, and food security. There are several causes of food loss and waste. For instance, perishable products are frequently touched and transported in varying temperatures, which causes them to spoil and eventually disappear. Globally, there has been an increase in demand for thermally controlled packaging solutions, such as cooler boxes, to tackle this.
Restraint:
Stringent environmental rules & regulations
Governments all over the world have implemented strict laws in response to growing concerns about the environmental impact of packaging waste. For instance, on June 26, 2020, the Indian government changed its plastic waste management regulations. In accordance with the International Safe Transport Association (ISTA) standards, which are concerned with the packaging, storage, and transportation of goods, standard tests are also carried out to verify the capacity of packaging systems to maintain the temperature range required by those requirements. The European Commission's packaging directives have also resulted in the imposition of ambitious recycling goals as governments look for new ways to reduce packaging waste. Thus, the expansion of this market is constrained by rising environmental awareness and efficient waste disposal.
Opportunity:
High growth potential markets for insulated packaging
The insulated packaging sector has substantial growth potential in emerging markets like Brazil, India, and China. The food and beverage, healthcare, and chemicals industries have grown as a result of the rapid economic development in China and India. Development in these industries has helped fuel a rise in packaging demand for a wide range of products, including perishable items like meat, fish, and poultry. As a result, cooler box manufacturers are exploring into the untapped potential of developing nations to maximise their market share.
Threat:
Fluctuations in crude oil prices
Plastic, glass, paper, and metal are some of the raw materials used to make cooler boxes. The majority of these raw materials are derivatives based on crude oil that are sensitive to changes in commodity prices. The development of polymers like polyurethane, polyethylene, and polystyrene is severely hampered by the rising cost of crude oil. Polymer foams, which are generated from petrochemical feedstock, are used to manufacture the bulk of cooler boxes. As a result, fluctuating crude oil prices are anticipated to have an impact on polymer foam prices in the near future.
Covid-19 Impact:
The cooler box market has benefited from the COVID-19 outbreak. The need for cooler boxes and chilled storage was at its highest as a result of the worldwide vaccination program. The businesses concentrated on R&D to actually build more complex refrigeration systems to carry vaccinations in. Companies like Panasonic created Panasonic VIXELL Cooling Boxes, which were essential in containing the COVID-19 epidemic. The necessity for temperature control to reduce food loss and associated health hazards is the primary driver of cooler box market growth.
The reusable cooler boxes segment is expected to be the largest during the forecast period
The reusable cooler boxes are preferred to other types of boxes due to their high efficiency and durable shells, the reusable segment held the largest share of the market during the projection period. Moreover, compared to single-use cooler boxes, they are more affordable and robust. The rise of cooler boxes in pharmaceutical companies frequently by using reusable cooler boxes as maintaining a consistent product temperature has been fueled the market growth.
The pharmaceutical segment is expected to have the highest CAGR during the forecast period
Because pharmaceutical products are typically temperature-sensitive and require consistent low or freezing temperatures, the pharmaceuticals segment is expected to expand at a highest growth throughout the projection period. The need for cooler boxes is rising as a result of the growing pharmaceutical industry's need for a portable, user-friendly, and sustainable solution to store drugs, blood, organs, vaccines, and other supplies. Moreover, with the use of these cooler boxes, the pharmaceutical companies is able to adhere to WHO recommendations for maintaining a certain temperature while keeping medical products. However, these containers allow temperatures ranging from 2° to 8°C. The expanded vaccination campaigns during pandemics enhance the need to rapidly preserve essential pharmaceutical supplies, which raises the demand for cooler boxes.
Region with largest share:
Due to the increase in demand for cold storage and transportation in countries like China and India, the Asia-Pacific region is anticipated to experience the cooler box market's largest percentage of revenue growth during the projected period. Also, end-user businesses are focused in nations like China, India, Japan, and Korea, and they demand higher prices for cooler boxes. Additionally, the cooler box market is also predicted to grow in developed countries like Japan and South Korea as consumers become more aware of the benefits of using coolers. Also, the market for cooler boxes is expected to benefit from the growing need for cooling solutions that are both energy- and environmentally-friendly.
Region with highest CAGR:
Throughout the projected period, the cooler box market in the Asia-Pacific region is anticipated to grow at the highest CAGR. The major nations contributing to the high demand for cooler boxes in the Asia-Pacific region are China, Japan, South Korea, and India. Because of the low cost of labor and raw materials, cooler box manufacturing facilities prefer to operate in Asia Pacific. Also, the APAC region's countries are developing their current manufacturing sectors' capacity to serve significant cooler box shipments.
Key players in the market
Some of the key players in Cooler Box market include B Medical System, ISONOVA, Softbox Systems Ltd, Sonoco Thermosafe, Eurobox Logistics, Blowkings, va-Q-tec AG, Sofrigam Group, Coldchain Technologies, Inc, Igloo, Wild Coolers, Cool Ice Box Company, FEURER GmbH, Bison Coolers and K2 Coolers.
Key Developments:
In November 2022, Sonoco, a global leader in diversified packaging, plans to further expand Sonopost cornerpost manufacturing with the new facility in Bursa, Turkey.
In October 2022, AZENTA, INC. announced the acquisition of B Medical Systems S.Á R.L and its subsidiaries, a market leader in temperature-controlled storage and transportation solutions that enable the delivery of life-saving treatments to more than 150 countries worldwide. This acquisition complements Azenta’s cold chain capabilities, adding differentiated solutions for reliable and traceable transport of temperature-sensitive specimens.
In October 2022, CSafe Global, the largest provider of a complete range of active and passive temperature-controlled shipping solutions for the pharmaceutical industry, announced the launch of its new advanced reusable pallet shipper, CSafeAPS.
Cooling Materials Covered:
• Wet Ice
• Dry Ice
• Eutectic Plates
• Gel Packs
• Insulated Blankets
• Liquid Nitrogen
Types Covered:
• Disposable Cooler Boxes
• Reusable Cooler Boxes
Raw Materials Covered:
• Extruded Polystyrene
• Expanded Polystyrene
• Polyurethane Foam
• Expanded Polypropylene
End Users Covered:
• Food & Beverages
• Pharmaceuticals
• Other End Users
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 End User Analysis
3.7 Emerging Markets
3.8 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Cooler Box Market, By Cooling Material
5.1 Introduction
5.2 Wet Ice
5.3 Dry Ice
5.4 Eutectic Plates
5.5 Gel Packs
5.6 Insulated Blankets
5.7 Liquid Nitrogen
6 Global Cooler Box Market, By Type
6.1 Introduction
6.2 Disposable Cooler Boxes
6.3 Reusable Cooler Boxes
7 Global Cooler Box Market, By Raw Material
7.1 Introduction
7.2 Extruded Polystyrene
7.3 Expanded Polystyrene
7.4 Polyurethane Foam
7.5 Expanded Polypropylene
8 Global Cooler Box Market, By End User
8.1 Introduction
8.2 Food & Beverages
8.3 Pharmaceuticals
8.4 Other End Users
9 Global Cooler Box Market, By Geography
9.1 Introduction
9.2 North America
9.2.1 US
9.2.2 Canada
9.2.3 Mexico
9.3 Europe
9.3.1 Germany
9.3.2 UK
9.3.3 Italy
9.3.4 France
9.3.5 Spain
9.3.6 Rest of Europe
9.4 Asia Pacific
9.4.1 Japan
9.4.2 China
9.4.3 India
9.4.4 Australia
9.4.5 New Zealand
9.4.6 South Korea
9.4.7 Rest of Asia Pacific
9.5 South America
9.5.1 Argentina
9.5.2 Brazil
9.5.3 Chile
9.5.4 Rest of South America
9.6 Middle East & Africa
9.6.1 Saudi Arabia
9.6.2 UAE
9.6.3 Qatar
9.6.4 South Africa
9.6.5 Rest of Middle East & Africa
10 Key Developments
10.1 Agreements, Partnerships, Collaborations and Joint Ventures
10.2 Acquisitions & Mergers
10.3 New Product Launch
10.4 Expansions
10.5 Other Key Strategies
11 Company Profiling
11.1 B Medical System
11.2 ISONOVA
11.3 Softbox Systems Ltd
11.4 Sonoco Thermosafe
11.5 Eurobox Logistics
11.6 Blowkings
11.7 va-Q-tec AG
11.8 Sofrigam Group
11.9 Coldchain Technologies, Inc
11.10 Igloo
11.11 Wild Coolers
11.12 Cool Ice Box Company
11.13 FEURER GmbH
11.14 Bison Coolers
11.15 K2 Coolers
List of Tables
1 Global Cooler Box Market Outlook, By Region (2020-2028) ($MN)
2 Global Cooler Box Market Outlook, By Cooling Material (2020-2028) ($MN)
3 Global Cooler Box Market Outlook, By Wet Ice (2020-2028) ($MN)
4 Global Cooler Box Market Outlook, By Dry Ice (2020-2028) ($MN)
5 Global Cooler Box Market Outlook, By Eutectic Plates (2020-2028) ($MN)
6 Global Cooler Box Market Outlook, By Gel Packs (2020-2028) ($MN)
7 Global Cooler Box Market Outlook, By Insulated Blankets (2020-2028) ($MN)
8 Global Cooler Box Market Outlook, By Liquid Nitrogen (2020-2028) ($MN)
9 Global Cooler Box Market Outlook, By Type (2020-2028) ($MN)
10 Global Cooler Box Market Outlook, By Disposable Cooler Boxes (2020-2028) ($MN)
11 Global Cooler Box Market Outlook, By Reusable Cooler Boxes (2020-2028) ($MN)
12 Global Cooler Box Market Outlook, By Raw Material (2020-2028) ($MN)
13 Global Cooler Box Market Outlook, By Extruded Polystyrene (2020-2028) ($MN)
14 Global Cooler Box Market Outlook, By Expanded Polystyrene (2020-2028) ($MN)
15 Global Cooler Box Market Outlook, By Polyurethane Foam (2020-2028) ($MN)
16 Global Cooler Box Market Outlook, By Expanded Polypropylene (2020-2028) ($MN)
17 Global Cooler Box Market Outlook, By End User (2020-2028) ($MN)
18 Global Cooler Box Market Outlook, By Food & Beverages (2020-2028) ($MN)
19 Global Cooler Box Market Outlook, By Pharmaceuticals (2020-2028) ($MN)
20 Global Cooler Box Market Outlook, By Other End Users (2020-2028) ($MN)
21 North America Cooler Box Market Outlook, By Country (2020-2028) ($MN)
22 North America Cooler Box Market Outlook, By Cooling Material (2020-2028) ($MN)
23 North America Cooler Box Market Outlook, By Wet Ice (2020-2028) ($MN)
24 North America Cooler Box Market Outlook, By Dry Ice (2020-2028) ($MN)
25 North America Cooler Box Market Outlook, By Eutectic Plates (2020-2028) ($MN)
26 North America Cooler Box Market Outlook, By Gel Packs (2020-2028) ($MN)
27 North America Cooler Box Market Outlook, By Insulated Blankets (2020-2028) ($MN)
28 North America Cooler Box Market Outlook, By Liquid Nitrogen (2020-2028) ($MN)
29 North America Cooler Box Market Outlook, By Type (2020-2028) ($MN)
30 North America Cooler Box Market Outlook, By Disposable Cooler Boxes (2020-2028) ($MN)
31 North America Cooler Box Market Outlook, By Reusable Cooler Boxes (2020-2028) ($MN)
32 North America Cooler Box Market Outlook, By Raw Material (2020-2028) ($MN)
33 North America Cooler Box Market Outlook, By Extruded Polystyrene (2020-2028) ($MN)
34 North America Cooler Box Market Outlook, By Expanded Polystyrene (2020-2028) ($MN)
35 North America Cooler Box Market Outlook, By Polyurethane Foam (2020-2028) ($MN)
36 North America Cooler Box Market Outlook, By Expanded Polypropylene (2020-2028) ($MN)
37 North America Cooler Box Market Outlook, By End User (2020-2028) ($MN)
38 North America Cooler Box Market Outlook, By Food & Beverages (2020-2028) ($MN)
39 North America Cooler Box Market Outlook, By Pharmaceuticals (2020-2028) ($MN)
40 North America Cooler Box Market Outlook, By Other End Users (2020-2028) ($MN)
41 Europe Cooler Box Market Outlook, By Country (2020-2028) ($MN)
42 Europe Cooler Box Market Outlook, By Cooling Material (2020-2028) ($MN)
43 Europe Cooler Box Market Outlook, By Wet Ice (2020-2028) ($MN)
44 Europe Cooler Box Market Outlook, By Dry Ice (2020-2028) ($MN)
45 Europe Cooler Box Market Outlook, By Eutectic Plates (2020-2028) ($MN)
46 Europe Cooler Box Market Outlook, By Gel Packs (2020-2028) ($MN)
47 Europe Cooler Box Market Outlook, By Insulated Blankets (2020-2028) ($MN)
48 Europe Cooler Box Market Outlook, By Liquid Nitrogen (2020-2028) ($MN)
49 Europe Cooler Box Market Outlook, By Type (2020-2028) ($MN)
50 Europe Cooler Box Market Outlook, By Disposable Cooler Boxes (2020-2028) ($MN)
51 Europe Cooler Box Market Outlook, By Reusable Cooler Boxes (2020-2028) ($MN)
52 Europe Cooler Box Market Outlook, By Raw Material (2020-2028) ($MN)
53 Europe Cooler Box Market Outlook, By Extruded Polystyrene (2020-2028) ($MN)
54 Europe Cooler Box Market Outlook, By Expanded Polystyrene (2020-2028) ($MN)
55 Europe Cooler Box Market Outlook, By Polyurethane Foam (2020-2028) ($MN)
56 Europe Cooler Box Market Outlook, By Expanded Polypropylene (2020-2028) ($MN)
57 Europe Cooler Box Market Outlook, By End User (2020-2028) ($MN)
58 Europe Cooler Box Market Outlook, By Food & Beverages (2020-2028) ($MN)
59 Europe Cooler Box Market Outlook, By Pharmaceuticals (2020-2028) ($MN)
60 Europe Cooler Box Market Outlook, By Other End Users (2020-2028) ($MN)
61 Asia Pacific Cooler Box Market Outlook, By Country (2020-2028) ($MN)
62 Asia Pacific Cooler Box Market Outlook, By Cooling Material (2020-2028) ($MN)
63 Asia Pacific Cooler Box Market Outlook, By Wet Ice (2020-2028) ($MN)
64 Asia Pacific Cooler Box Market Outlook, By Dry Ice (2020-2028) ($MN)
65 Asia Pacific Cooler Box Market Outlook, By Eutectic Plates (2020-2028) ($MN)
66 Asia Pacific Cooler Box Market Outlook, By Gel Packs (2020-2028) ($MN)
67 Asia Pacific Cooler Box Market Outlook, By Insulated Blankets (2020-2028) ($MN)
68 Asia Pacific Cooler Box Market Outlook, By Liquid Nitrogen (2020-2028) ($MN)
69 Asia Pacific Cooler Box Market Outlook, By Type (2020-2028) ($MN)
70 Asia Pacific Cooler Box Market Outlook, By Disposable Cooler Boxes (2020-2028) ($MN)
71 Asia Pacific Cooler Box Market Outlook, By Reusable Cooler Boxes (2020-2028) ($MN)
72 Asia Pacific Cooler Box Market Outlook, By Raw Material (2020-2028) ($MN)
73 Asia Pacific Cooler Box Market Outlook, By Extruded Polystyrene (2020-2028) ($MN)
74 Asia Pacific Cooler Box Market Outlook, By Expanded Polystyrene (2020-2028) ($MN)
75 Asia Pacific Cooler Box Market Outlook, By Polyurethane Foam (2020-2028) ($MN)
76 Asia Pacific Cooler Box Market Outlook, By Expanded Polypropylene (2020-2028) ($MN)
77 Asia Pacific Cooler Box Market Outlook, By End User (2020-2028) ($MN)
78 Asia Pacific Cooler Box Market Outlook, By Food & Beverages (2020-2028) ($MN)
79 Asia Pacific Cooler Box Market Outlook, By Pharmaceuticals (2020-2028) ($MN)
80 Asia Pacific Cooler Box Market Outlook, By Other End Users (2020-2028) ($MN)
81 South America Cooler Box Market Outlook, By Country (2020-2028) ($MN)
82 South America Cooler Box Market Outlook, By Cooling Material (2020-2028) ($MN)
83 South America Cooler Box Market Outlook, By Wet Ice (2020-2028) ($MN)
84 South America Cooler Box Market Outlook, By Dry Ice (2020-2028) ($MN)
85 South America Cooler Box Market Outlook, By Eutectic Plates (2020-2028) ($MN)
86 South America Cooler Box Market Outlook, By Gel Packs (2020-2028) ($MN)
87 South America Cooler Box Market Outlook, By Insulated Blankets (2020-2028) ($MN)
88 South America Cooler Box Market Outlook, By Liquid Nitrogen (2020-2028) ($MN)
89 South America Cooler Box Market Outlook, By Type (2020-2028) ($MN)
90 South America Cooler Box Market Outlook, By Disposable Cooler Boxes (2020-2028) ($MN)
91 South America Cooler Box Market Outlook, By Reusable Cooler Boxes (2020-2028) ($MN)
92 South America Cooler Box Market Outlook, By Raw Material (2020-2028) ($MN)
93 South America Cooler Box Market Outlook, By Extruded Polystyrene (2020-2028) ($MN)
94 South America Cooler Box Market Outlook, By Expanded Polystyrene (2020-2028) ($MN)
95 South America Cooler Box Market Outlook, By Polyurethane Foam (2020-2028) ($MN)
96 South America Cooler Box Market Outlook, By Expanded Polypropylene (2020-2028) ($MN)
97 South America Cooler Box Market Outlook, By End User (2020-2028) ($MN)
98 South America Cooler Box Market Outlook, By Food & Beverages (2020-2028) ($MN)
99 South America Cooler Box Market Outlook, By Pharmaceuticals (2020-2028) ($MN)
100 South America Cooler Box Market Outlook, By Other End Users (2020-2028) ($MN)
101 Middle East & Africa Cooler Box Market Outlook, By Country (2020-2028) ($MN)
102 Middle East & Africa Cooler Box Market Outlook, By Cooling Material (2020-2028) ($MN)
103 Middle East & Africa Cooler Box Market Outlook, By Wet Ice (2020-2028) ($MN)
104 Middle East & Africa Cooler Box Market Outlook, By Dry Ice (2020-2028) ($MN)
105 Middle East & Africa Cooler Box Market Outlook, By Eutectic Plates (2020-2028) ($MN)
106 Middle East & Africa Cooler Box Market Outlook, By Gel Packs (2020-2028) ($MN)
107 Middle East & Africa Cooler Box Market Outlook, By Insulated Blankets (2020-2028) ($MN)
108 Middle East & Africa Cooler Box Market Outlook, By Liquid Nitrogen (2020-2028) ($MN)
109 Middle East & Africa Cooler Box Market Outlook, By Type (2020-2028) ($MN)
110 Middle East & Africa Cooler Box Market Outlook, By Disposable Cooler Boxes (2020-2028) ($MN)
111 Middle East & Africa Cooler Box Market Outlook, By Reusable Cooler Boxes (2020-2028) ($MN)
112 Middle East & Africa Cooler Box Market Outlook, By Raw Material (2020-2028) ($MN)
113 Middle East & Africa Cooler Box Market Outlook, By Extruded Polystyrene (2020-2028) ($MN)
114 Middle East & Africa Cooler Box Market Outlook, By Expanded Polystyrene (2020-2028) ($MN)
115 Middle East & Africa Cooler Box Market Outlook, By Polyurethane Foam (2020-2028) ($MN)
116 Middle East & Africa Cooler Box Market Outlook, By Expanded Polypropylene (2020-2028) ($MN)
117 Middle East & Africa Cooler Box Market Outlook, By End User (2020-2028) ($MN)
118 Middle East & Africa Cooler Box Market Outlook, By Food & Beverages (2020-2028) ($MN)
119 Middle East & Africa Cooler Box Market Outlook, By Pharmaceuticals (2020-2028) ($MN)
120 Middle East & Africa Cooler Box Market Outlook, By Other End Users (2020-2028) ($MN)
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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