Strategic Vision for Latin America Rigid Plastic Packaging Market Market Expansion

Key Insights

The Latin America Rigid Plastic Packaging market is experiencing steady growth, driven by factors such as the increasing demand for packaged food and beverages, the rise of e-commerce leading to a surge in demand for protective packaging, and the burgeoning cosmetics and personal care industry. The market's CAGR of 3.47% from 2019-2024 suggests a consistent upward trajectory, projected to continue into the forecast period (2025-2033). While precise market size figures are unavailable, industry reports suggest a significant market value in the billions of dollars, with a considerable portion attributable to the region's large and growing population. This growth, however, faces challenges including concerns about environmental sustainability and the increasing adoption of alternative packaging materials. Government regulations promoting eco-friendly solutions and the development of biodegradable plastics are shaping industry dynamics. Key players like Amcor, Berry Global, and Silgan are navigating these challenges by investing in sustainable packaging solutions and expanding their production capabilities to meet the rising regional demand. The market segmentation, encompassing food & beverage, healthcare, consumer goods, and industrial applications, presents opportunities for specialized packaging solutions catering to unique needs. Regional variations exist, with larger markets in Brazil and Mexico driving overall growth. The competitive landscape is characterized by both established multinational corporations and emerging local players, leading to intense competition focused on innovation and cost efficiency.

The competitive landscape necessitates strategic partnerships and mergers & acquisitions to gain a foothold in the market. Established players are leveraging their extensive distribution networks and technological capabilities to maintain market dominance, while emerging players are focusing on niche markets and providing innovative, cost-effective solutions. The forecast period will likely witness increased adoption of advanced technologies such as lightweighting and improved barrier properties to meet consumer demand for enhanced product protection and sustainability. Furthermore, the growing middle class in Latin America contributes to increased disposable income, fueling demand for packaged consumer goods and influencing market growth. This market is set for continued expansion, but success will hinge on players' ability to adapt to changing consumer preferences and regulatory landscapes, focusing on sustainable and innovative solutions.

Latin America Rigid Plastic Packaging Market Research Report - Market Size, Growth & Forecast

Latin America Rigid Plastic Packaging Market: A Comprehensive Report (2019-2033)

This in-depth report provides a comprehensive analysis of the Latin America Rigid Plastic Packaging Market, offering invaluable insights for industry professionals, investors, and strategic decision-makers. The study period covers 2019-2033, with a base year of 2025 and a forecast period of 2025-2033. We delve into market dynamics, competitive landscapes, and future growth potential, utilizing data from the historical period (2019-2024) and incorporating recent key developments. The market size is projected at xx Million in 2025 and is expected to reach xx Million by 2033.

Latin America Rigid Plastic Packaging Market Structure & Innovation Trends

This section analyzes the market structure, encompassing concentration levels, innovation drivers, regulatory landscapes, and competitive dynamics within the Latin American rigid plastic packaging industry. We examine the impact of mergers and acquisitions (M&A) on market share distribution, highlighting key transactions and their implications. The report also explores the influence of substitute products, end-user demographics, and evolving consumer preferences on market growth trajectories.

Market Concentration: The market exhibits a moderately concentrated structure, with several large players holding significant shares. Market share data will be provided within the full report.
Innovation Drivers: Sustainability initiatives, evolving packaging designs for enhanced product protection and consumer appeal, and technological advancements in material science are key drivers of innovation.
Regulatory Framework: Government regulations concerning plastic waste management and recycling significantly influence market dynamics. A detailed analysis of these regulations across different Latin American countries will be included.
Product Substitutes: The rise of alternative packaging materials, such as paper-based and biodegradable options, poses a competitive threat, requiring strategic adaptation by existing players.
M&A Activities: The report analyzes recent M&A activities, detailing deal values and their impact on market consolidation. We estimate that total M&A deal values for the period 2019-2024 totaled xx Million. Examples include (but are not limited to) details within the full report.
End-User Demographics: This analysis includes consumer preferences across key sectors, influencing demand for specific packaging types.

Latin America Rigid Plastic Packaging Market Growth

Latin America Rigid Plastic Packaging Market Dynamics & Trends

This section provides a detailed analysis of market dynamics, including growth drivers, technological disruptions, consumer preferences, and competitive dynamics within the Latin American rigid plastic packaging market. Key metrics such as CAGR and market penetration will be explored to provide a comprehensive understanding of market trends. Specific industry segments and their growth trajectories will be detailed. The report also identifies key challenges and growth limitations and predicts future market trends and opportunities. The CAGR for the forecast period (2025-2033) is estimated at xx%.

Dominant Regions & Segments in Latin America Rigid Plastic Packaging Market

This section pinpoints the leading regions and segments within the Latin American rigid plastic packaging market. A detailed dominance analysis is provided, supported by key drivers like economic policies and infrastructure development, contributing to the regional and segmental performance disparities. This analysis is supported by regional economic data and specific market research.

Leading Region: [Region Name] is identified as the leading region due to [reasons detailed in the report]
Key Drivers:
- [Specific economic policies and their impact]
- [Infrastructure development contributing to growth]
- [Other relevant factors]

Latin America Rigid Plastic Packaging Market Product Innovations

This section offers a succinct overview of recent product developments, their applications, and competitive advantages. It emphasizes the impact of technological trends on market fit and future product evolution. The focus is on the introduction of sustainable and innovative packaging solutions addressing consumer demand for environmentally friendly options.

Report Scope & Segmentation Analysis

This section details all market segmentations including material type (PET, HDPE, PP, etc.), packaging type (bottles, containers, closures, etc.), end-use industry (food and beverage, personal care, healthcare, etc.), and region (Brazil, Mexico, Argentina, etc.). Growth projections, market sizes, and competitive dynamics are analyzed for each segment. Specific market size data in Million for each segment for the base year and forecast period will be provided in the full report.

Key Drivers of Latin America Rigid Plastic Packaging Market Growth

This section outlines the key factors driving market growth, including technological advancements, favorable economic conditions, and supportive regulatory frameworks. Specific examples will be provided, illustrating the impact of each driver on market expansion. Factors such as increasing consumer spending and growth in specific end-use industries are considered.

Challenges in the Latin America Rigid Plastic Packaging Market Sector

This section discusses major barriers and restraints influencing the Latin America Rigid Plastic Packaging Market sector. The impact of these challenges on market growth is quantified where possible. Areas covered include regulatory hurdles, supply chain inefficiencies, fluctuating raw material prices, and competitive pressures. The challenges are analyzed in relation to their specific impact on market size and growth projections.

Emerging Opportunities in Latin America Rigid Plastic Packaging Market

This section identifies emerging trends and opportunities for growth within the Latin American Rigid Plastic Packaging Market. The focus is on emerging markets, technological innovations, and evolving consumer preferences. Areas of potential expansion and market diversification are analyzed.

Leading Players in the Latin America Rigid Plastic Packaging Market Market

This section profiles key players in the Latin American rigid plastic packaging market:

*List Not Exhaustive. A more detailed competitor analysis, including a heat map and comparison of emerging vs. established players, is included in the full report.

Key Developments in Latin America Rigid Plastic Packaging Market Industry

This section details key industry developments, emphasizing their impact on market dynamics:

June 2024: Method's shift to 100% recycled coastal plastic bottles, driven by its partnership with SC Johnson and Plastic Bank, highlights the growing demand for sustainable packaging solutions. This development is expected to accelerate the adoption of recycled materials within the market.
August 2023: Indorama Ventures' USD 20 Million investment in modernizing its Brazilian rePET resin recycling facility demonstrates a commitment to enhancing recycling infrastructure and reducing water consumption within the industry. This directly impacts the supply of recycled materials and promotes a circular economy.
May 2023: Greenback's launch of a state-of-the-art plastic recycling facility in Mexico, in collaboration with Nestle, signifies advancements in plastic recycling technology, particularly for previously non-recyclable plastics. This initiative contributes to enhancing the circularity of plastics within the region.

Future Outlook for Latin America Rigid Plastic Packaging Market Market

The Latin America Rigid Plastic Packaging Market is poised for continued growth, driven by factors such as increasing demand from key end-use industries, ongoing investments in recycling infrastructure, and the growing adoption of sustainable packaging solutions. Strategic opportunities exist for companies focusing on innovation, sustainability, and efficient supply chain management. The market's future potential is significant, particularly considering the expanding middle class and rising consumer spending power across the region.

Latin America Rigid Plastic Packaging Market Segmentation

1. Resin
- 1.1. Polyethylene (PE)
  - 1.1.1. LDPE and LLDPE
  - 1.1.2. HDPE
- 1.2. Polyethylene terephthalate (PET)
- 1.3. Polypropylene (PP)
- 1.4. Polystyrene (PS) and Expanded polystyrene (EPS)
- 1.5. Polyvinyl chloride (PVC)
- 1.6. Other Re
2. Product Type
- 2.1. Bottles and Jars
- 2.2. Trays and Containers
- 2.3. Caps and Closures
- 2.4. Intermediate Bulk Containers (IBCs)
- 2.5. Drums
- 2.6. Pallets
- 2.7. Other Pr
3. End-user Industry
- 3.1. Food**
  - 3.1.1. Candy and Confectionery
  - 3.1.2. Frozen Foods
  - 3.1.3. Fresh Produce
  - 3.1.4. Dairy Products
  - 3.1.5. Dry Foods
  - 3.1.6. Meat, Poultry, and Seafood
  - 3.1.7. Pet Food
  - 3.1.8. Other Fo
- 3.2. Foodservice**
  - 3.2.1. Quick Service Restaurants (QSRs)
  - 3.2.2. Full-Service Restaurants (FSRs)
  - 3.2.3. Coffee and Snack Outlets
  - 3.2.4. Retail Establishments
  - 3.2.5. Institutional
  - 3.2.6. Hospitality
  - 3.2.7. Other Foodservice
- 3.3. Beverage
- 3.4. Healthcare
- 3.5. Cosmetics and Personal Care
- 3.6. Industri
- 3.7. Building and Construction
- 3.8. Automotive
- 3.9. Other En

Latin America Rigid Plastic Packaging Market Segmentation By Geography

1. Latin America
- 1.1. Brazil
- 1.2. Argentina
- 1.3. Chile
- 1.4. Colombia
- 1.5. Mexico
- 1.6. Peru
- 1.7. Venezuela
- 1.8. Ecuador
- 1.9. Bolivia
- 1.10. Paraguay

Latin America Rigid Plastic Packaging Market Regional Share

Latin America Rigid Plastic Packaging Market REPORT HIGHLIGHTS

Aspects	Details
Study Period	2019-2033
Base Year	2024
Estimated Year	2025
Forecast Period	2025-2033
Historical Period	2019-2024
Growth Rate	CAGR of 3.47% from 2019-2033
Segmentation	By Resin Polyethylene (PE) LDPE and LLDPE HDPE Polyethylene terephthalate (PET) Polypropylene (PP) Polystyrene (PS) and Expanded polystyrene (EPS) Polyvinyl chloride (PVC) Other Re By Product Type Bottles and Jars Trays and Containers Caps and Closures Intermediate Bulk Containers (IBCs) Drums Pallets Other Pr By End-user Industry Food Candy and Confectionery Frozen Foods Fresh Produce Dairy Products Dry Foods Meat, Poultry, and Seafood Pet Food Other Fo Foodservice Quick Service Restaurants (QSRs) Full-Service Restaurants (FSRs) Coffee and Snack Outlets Retail Establishments Institutional Hospitality Other Foodservice Beverage Healthcare Cosmetics and Personal Care Industri Building and Construction Automotive Other En By Geography Latin America Brazil Argentina Chile Colombia Mexico Peru Venezuela Ecuador Bolivia Paraguay

1. Introduction
- 1.1. Research Scope
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.4. Definitions and Assumptions
2. Executive Summary
- 2.1. Introduction
3. Market Dynamics
- 3.1. Introduction
- - 3.2. Market Drivers
  - - 3.2.1. Rising Demand for Sustainable and Innovative Food Packaging Products; Increasing Consumption of Cosmetic Products
- - 3.3. Market Restrains
  - - 3.3.1. Rising Demand for Sustainable and Innovative Food Packaging Products; Increasing Consumption of Cosmetic Products
- - 3.4. Market Trends
  - - 3.4.1. Food and Beverage Occupies the Largest Market Share
4. Market Factor Analysis
- 4.1. Porters Five Forces
- 4.2. Supply/Value Chain
- 4.3. PESTEL analysis
- 4.4. Market Entropy
- 4.5. Patent/Trademark Analysis
5. Latin America Rigid Plastic Packaging Market Analysis, Insights and Forecast, 2019-2031
- 5.1. Market Analysis, Insights and Forecast - by Resin
  - 5.1.1. Polyethylene (PE)
    - 5.1.1.1. LDPE and LLDPE
    - 5.1.1.2. HDPE
  - 5.1.2. Polyethylene terephthalate (PET)
  - 5.1.3. Polypropylene (PP)
  - 5.1.4. Polystyrene (PS) and Expanded polystyrene (EPS)
  - 5.1.5. Polyvinyl chloride (PVC)
  - 5.1.6. Other Re
- 5.2. Market Analysis, Insights and Forecast - by Product Type
  - 5.2.1. Bottles and Jars
  - 5.2.2. Trays and Containers
  - 5.2.3. Caps and Closures
  - 5.2.4. Intermediate Bulk Containers (IBCs)
  - 5.2.5. Drums
  - 5.2.6. Pallets
  - 5.2.7. Other Pr
- 5.3. Market Analysis, Insights and Forecast - by End-user Industry
  - 5.3.1. Food**
    - 5.3.1.1. Candy and Confectionery
    - 5.3.1.2. Frozen Foods
    - 5.3.1.3. Fresh Produce
    - 5.3.1.4. Dairy Products
    - 5.3.1.5. Dry Foods
    - 5.3.1.6. Meat, Poultry, and Seafood
    - 5.3.1.7. Pet Food
    - 5.3.1.8. Other Fo
  - 5.3.2. Foodservice**
    - 5.3.2.1. Quick Service Restaurants (QSRs)
    - 5.3.2.2. Full-Service Restaurants (FSRs)
    - 5.3.2.3. Coffee and Snack Outlets
    - 5.3.2.4. Retail Establishments
    - 5.3.2.5. Institutional
    - 5.3.2.6. Hospitality
    - 5.3.2.7. Other Foodservice
  - 5.3.3. Beverage
  - 5.3.4. Healthcare
  - 5.3.5. Cosmetics and Personal Care
  - 5.3.6. Industri
  - 5.3.7. Building and Construction
  - 5.3.8. Automotive
  - 5.3.9. Other En
- 5.4. Market Analysis, Insights and Forecast - by Region
  - 5.4.1. Latin America
6. Competitive Analysis
- 6.1. Market Share Analysis 2024
- - 6.2. Company Profiles
  - - 6.2.1 Amcor Group GmbH
      6.2.1.1. Overview
      6.2.1.2. Products
      6.2.1.3. SWOT Analysis
      6.2.1.4. Recent Developments
      6.2.1.5. Financials (Based on Availability)
    - 6.2.2 Berry Global Inc
      6.2.2.1. Overview
      6.2.2.2. Products
      6.2.2.3. SWOT Analysis
      6.2.2.4. Recent Developments
      6.2.2.5. Financials (Based on Availability)
    - 6.2.3 Alpla Werke Alwin Lehner GmbH & Co KG
      6.2.3.1. Overview
      6.2.3.2. Products
      6.2.3.3. SWOT Analysis
      6.2.3.4. Recent Developments
      6.2.3.5. Financials (Based on Availability)
    - 6.2.4 Silgan Holdings Inc
      6.2.4.1. Overview
      6.2.4.2. Products
      6.2.4.3. SWOT Analysis
      6.2.4.4. Recent Developments
      6.2.4.5. Financials (Based on Availability)
    - 6.2.5 Sealed Air Corporation
      6.2.5.1. Overview
      6.2.5.2. Products
      6.2.5.3. SWOT Analysis
      6.2.5.4. Recent Developments
      6.2.5.5. Financials (Based on Availability)
    - 6.2.6 Plastipak Holding Inc
      6.2.6.1. Overview
      6.2.6.2. Products
      6.2.6.3. SWOT Analysis
      6.2.6.4. Recent Developments
      6.2.6.5. Financials (Based on Availability)
    - 6.2.7 Sonoco Products Company
      6.2.7.1. Overview
      6.2.7.2. Products
      6.2.7.3. SWOT Analysis
      6.2.7.4. Recent Developments
      6.2.7.5. Financials (Based on Availability)
    - 6.2.8 Albea Group
      6.2.8.1. Overview
      6.2.8.2. Products
      6.2.8.3. SWOT Analysis
      6.2.8.4. Recent Developments
      6.2.8.5. Financials (Based on Availability)
    - 6.2.9 Greiner Packaging International GmbH
      6.2.9.1. Overview
      6.2.9.2. Products
      6.2.9.3. SWOT Analysis
      6.2.9.4. Recent Developments
      6.2.9.5. Financials (Based on Availability)
    - 6.2.10 BERICAP Holding GmbH
      6.2.10.1. Overview
      6.2.10.2. Products
      6.2.10.3. SWOT Analysis
      6.2.10.4. Recent Developments
      6.2.10.5. Financials (Based on Availability)
    - 6.2.11 Rioplastic
      6.2.11.1. Overview
      6.2.11.2. Products
      6.2.11.3. SWOT Analysis
      6.2.11.4. Recent Developments
      6.2.11.5. Financials (Based on Availability)
    - 6.2.12 IPACKCHEM GROUP*List Not Exhaustive 7 2 Heat Map Analysis7 3 Competitor Analysis - Emerging vs Established Player
      6.2.12.1. Overview
      6.2.12.2. Products
      6.2.12.3. SWOT Analysis
      6.2.12.4. Recent Developments
      6.2.12.5. Financials (Based on Availability)

List of Figures

Figure 1: Latin America Rigid Plastic Packaging Market Revenue Breakdown (Million, %) by Product 2024 & 2032
Figure 2: Latin America Rigid Plastic Packaging Market Share (%) by Company 2024

List of Tables

Table 1: Latin America Rigid Plastic Packaging Market Revenue Million Forecast, by Region 2019 & 2032
Table 2: Latin America Rigid Plastic Packaging Market Revenue Million Forecast, by Resin 2019 & 2032
Table 3: Latin America Rigid Plastic Packaging Market Revenue Million Forecast, by Product Type 2019 & 2032
Table 4: Latin America Rigid Plastic Packaging Market Revenue Million Forecast, by End-user Industry 2019 & 2032
Table 5: Latin America Rigid Plastic Packaging Market Revenue Million Forecast, by Region 2019 & 2032
Table 6: Latin America Rigid Plastic Packaging Market Revenue Million Forecast, by Resin 2019 & 2032
Table 7: Latin America Rigid Plastic Packaging Market Revenue Million Forecast, by Product Type 2019 & 2032
Table 8: Latin America Rigid Plastic Packaging Market Revenue Million Forecast, by End-user Industry 2019 & 2032
Table 9: Latin America Rigid Plastic Packaging Market Revenue Million Forecast, by Country 2019 & 2032
Table 10: Brazil Latin America Rigid Plastic Packaging Market Revenue (Million) Forecast, by Application 2019 & 2032
Table 11: Argentina Latin America Rigid Plastic Packaging Market Revenue (Million) Forecast, by Application 2019 & 2032
Table 12: Chile Latin America Rigid Plastic Packaging Market Revenue (Million) Forecast, by Application 2019 & 2032
Table 13: Colombia Latin America Rigid Plastic Packaging Market Revenue (Million) Forecast, by Application 2019 & 2032
Table 14: Mexico Latin America Rigid Plastic Packaging Market Revenue (Million) Forecast, by Application 2019 & 2032
Table 15: Peru Latin America Rigid Plastic Packaging Market Revenue (Million) Forecast, by Application 2019 & 2032
Table 16: Venezuela Latin America Rigid Plastic Packaging Market Revenue (Million) Forecast, by Application 2019 & 2032
Table 17: Ecuador Latin America Rigid Plastic Packaging Market Revenue (Million) Forecast, by Application 2019 & 2032
Table 18: Bolivia Latin America Rigid Plastic Packaging Market Revenue (Million) Forecast, by Application 2019 & 2032
Table 19: Paraguay Latin America Rigid Plastic Packaging Market Revenue (Million) Forecast, by Application 2019 & 2032

Frequently Asked Questions

1. What is the projected Compound Annual Growth Rate (CAGR) of the Latin America Rigid Plastic Packaging Market?

The projected CAGR is approximately 3.47%.

2. Which companies are prominent players in the Latin America Rigid Plastic Packaging Market?

Key companies in the market include Amcor Group GmbH, Berry Global Inc, Alpla Werke Alwin Lehner GmbH & Co KG, Silgan Holdings Inc, Sealed Air Corporation, Plastipak Holding Inc, Sonoco Products Company, Albea Group, Greiner Packaging International GmbH, BERICAP Holding GmbH, Rioplastic, IPACKCHEM GROUP*List Not Exhaustive 7 2 Heat Map Analysis7 3 Competitor Analysis - Emerging vs Established Player.

3. What are the main segments of the Latin America Rigid Plastic Packaging Market?

The market segments include Resin, Product Type, End-user Industry.

4. Can you provide details about the market size?

The market size is estimated to be USD XX Million as of 2022.

5. What are some drivers contributing to market growth?

Rising Demand for Sustainable and Innovative Food Packaging Products; Increasing Consumption of Cosmetic Products.

6. What are the notable trends driving market growth?

Food and Beverage Occupies the Largest Market Share.

7. Are there any restraints impacting market growth?

Rising Demand for Sustainable and Innovative Food Packaging Products; Increasing Consumption of Cosmetic Products.

8. Can you provide examples of recent developments in the market?

June 2024: Method, a producer of environmentally conscious cleaning and personal care items, announced a significant shift: all its transparent plastic bottles are crafted entirely from 100% recycled coastal plastic. This move stems from a strategic alliance with SC Johnson and Plastic Bank. Since 2018, SC Johnson, in tandem with Plastic Bank, has overseen the inception of over 550 plastic collection sites, notably in nations like Indonesia, the Philippines, Thailand, and Brazil.August 2023: Indorama Ventures, a player in the production of recycled PET (rePET) resin, extended its recycling operations in Brazil by investing USD 20 million to modernize the facility's operations and purchase new equipment, including washing machines, to facilitate the removal of labels, the grinding of bottles in water, and a 70% reduction in water consumption.May 2023: Greenback claimed to have completed the recycling cycle with its first state-of-the-art plastic recycling facility, which was set to commence operations in collaboration with Nestle, located in the Mexican city of Cuautla. The recycling technology is designed to circularize non-recyclable plastics and trace the origin of the material.

9. What pricing options are available for accessing the report?

Pricing options include single-user, multi-user, and enterprise licenses priced at USD 4750, USD 4950, and USD 6800 respectively.

10. Is the market size provided in terms of value or volume?

The market size is provided in terms of value, measured in Million.

11. Are there any specific market keywords associated with the report?

Yes, the market keyword associated with the report is "Latin America Rigid Plastic Packaging Market," which aids in identifying and referencing the specific market segment covered.

12. How do I determine which pricing option suits my needs best?

The pricing options vary based on user requirements and access needs. Individual users may opt for single-user licenses, while businesses requiring broader access may choose multi-user or enterprise licenses for cost-effective access to the report.

13. Are there any additional resources or data provided in the Latin America Rigid Plastic Packaging Market report?

While the report offers comprehensive insights, it's advisable to review the specific contents or supplementary materials provided to ascertain if additional resources or data are available.

14. How can I stay updated on further developments or reports in the Latin America Rigid Plastic Packaging Market?

To stay informed about further developments, trends, and reports in the Latin America Rigid Plastic Packaging Market, consider subscribing to industry newsletters, following relevant companies and organizations, or regularly checking reputable industry news sources and publications.

Methodology

Step 1 - Identification of Relevant Samples Size from Population Database

Step 2 - Approaches for Defining Global Market Size (Value, Volume* & Price*)

Top-down and bottom-up approaches are used to validate the global market size and estimate the market size for manufactures, regional segments, product, and application.

Note*: In applicable scenarios

Step 3 - Data Sources

Primary Research

Web Analytics
Survey Reports
Research Institute
Latest Research Reports
Opinion Leaders

Secondary Research

Annual Reports
White Paper
Latest Press Release
Industry Association
Paid Database
Investor Presentations

Step 4 - Data Triangulation

Involves using different sources of information in order to increase the validity of a study

These sources are likely to be stakeholders in a program - participants, other researchers, program staff, other community members, and so on.

Then we put all data in single framework & apply various statistical tools to find out the dynamic on the market.

During the analysis stage, feedback from the stakeholder groups would be compared to determine areas of agreement as well as areas of divergence

Additionally, after gathering mixed and scattered data from a wide range of sources, data is triangulated and correlated to come up with estimated figures which are further validated through primary mediums or industry experts, opinion leaders.