According to the research report titled ‘Global Sorting Equipment Market – Analysis By Product Type (Weight, Size, Others), Application, By Region, By Country (2021 Edition): Market Insights, Covid-19 Impact, Competition and Forecast (2021-2026)’, available with MarketStudyReport, global sorting equipment market was worth USD 3221.18 million in the year 2020 and is projected to yield substantial gains during the forecast timespan 2021-2026.
Increasing consumer expenditure on minimizing landfills, growing recycling rates, and efforts towards lowering environmental emissions are the major growth drivers of global sorting equipment market, claims the study. Furthermore, heavy emphasis on environmental protection, as well as rising demand for recycling initiatives is expected to boost market growth throughout the anticipated period.
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To limit the dangers to customers’ health by controlling microbiological and chemical threats, several food safety systems, legislation, and controls are being developed. Moreover, several government regulatory authorities are working to formulate a food safety policy that will aid in food traceability at several phases, including processing, production, and distribution. These factors are likely to boost the industry progress in the upcoming years.
Based on application scope, food segment is expected to show remarkable growth over the analysis period, owing to increasing adoption of automation in the food industry.
With respect to product type segmentation of worldwide sorting equipment industry, size-based segment currently accounts for a significant market share, owing to rising government initiatives for maintaining high food quality standards.
From a regional perspective, as per the report, Asia Pacific held 42.14% market share in 2020 and is slated to continue growing at a similar pace through 2027. This can be attributed to expanding demand due to innovation and development of resource recycling projects. Furthermore, growing industrial sector and faster technological developments in economies such as Japan and China are also propelling regional market expansion.
Considering the competitive landscape, CFT S.p.A, Optimum NV, Charoen Pokphand Group (CP), GREEFA Italia GmbH, Bühler Holding AG, Sesotec GmbH, Duravant LLC, Raytec Vision S.p.A, Aweta G & P BV, and Tomra Systems ASA are the major contenders in global sorting equipment market.
Questions and Answers:
Question 1: Which are the major companies influencing global sorting equipment market trends?
Answer 1: CFT S.p.A, Optimum NV, Charoen Pokphand Group (CP), GREEFA Italia GmbH, Bühler Holding AG, Sesotec GmbH, Duravant LLC, Raytec Vision S.p.A, Aweta G & P BV, and Tomra Systems ASA are the major players influencing industry trends.
Question 2: What are the major growth drivers of global sorting equipment market?
Answer 2: Increasing consumer expenditure on minimizing landfills, growing recycling rates, and efforts towards lowering environmental emissions are the primary factors boosting industry demand.
Question 3: Why is global sorting equipment market slated to record strong gains from food application segment?
Answer 3: Increasing adoption of automation in the food sector is propelling the demand for sorting equipment in the food sector, thereby driving the overall market growth.
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