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Sorting Machines Market Insights, Competitive Analysis, Latest Trends, And Forecast To 2033
Sorting Machines Market Insights
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According to The Business Research Company's, The sorting machines market size has grown strongly in recent years. It will grow from $3.75 billion in 2023 to $4.08 billion in 2024 at a compound annual growth rate (CAGR) of 8.8%. The growth in the historic period can be attributed to increased demand for processed and nutritional food, rise in demand for sorting machines from end-user industries, environmental concerns and recycling efforts, expansion of e-commerce, increased adoption of industrial automation.
The sorting machines market size is expected to see rapid growth in the next few years. It will grow to $6.49 billion in 2028 at a compound annual growth rate (CAGR) of 12.3%. The growth in the forecast period can be attributed to increasing volume of electronic waste, growing emphasis on sustainable packaging materials, increasingly adopted in the pharmaceutical industry, urban mining, emerging markets. Major trends in the forecast period include artificial intelligence integration, robotics and cobots, customization and modular systems, internet of things (iot), sustainability and green sorting.
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Market Drivers and Trends:
The increase in demand from the food and beverage industries is driving the growth of the sorting machines market. The food and beverage industries encompass businesses involved in the production, processing, distribution, and sale of food and drink products. Optical sorters are mainly utilized in the food industry around the globe, with improved penetration in the processing of collected foods such as fruits and vegetables. For instance, in 2023, according to the Food and Drink Federation, a UK-based organization representing and advising UK food and drink manufacturers, the exports of food and drink experienced a substantial 31% increase in 2022 compared to the previous year. Furthermore, the food and beverage industry boasted a remarkable turnover of $10.84 billion (£10.3 billion) in 2022, contributing to 33% of the total manufacturing output in Scotland. Therefore, the increase in demand from the food and beverage industries will contribute to the growth of the sorting machines market.
Technological advancements are a key trend gaining popularity in the sorting machines market. For instance, in April 2023, REDWAVE a China-based sensor-based sorting technology company, launched the XRF fine sorting machine. It can identify and sort a mixture of nonferrous metals starting at 4 mm in size to generate high-quality goods such pure copper, brass, zinc, and precious metal fractions. The REDWAVE XRF fine machine has an increased number of energy-saving valves that are precisely positioned and spaced to optimize sorting precision. The machine also has cutting-edge sensor technology that provides quicker scan rates, greater resolution, and precise material recognition.
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Major Key Players of the Market:
Tomra, Sesotec Inc., Aweta G & P BV, Raytec Vision SpA, BT-Wolfgang Binder GmbH, Concept Engineers Inc., GREEFA, Allgaier Werke, Cimbria, Satake Corporation, CP Global, Duravant, Anhui Jiexun Optoelectronic Technology Co. Ltd., Yuuki Anzai, Hefei Meyer Optoelectronic Technology Inc., Bühler AG, Key Technology Inc., National Recovery Technologies (NRT), Binder+Co AG, Beston (Henan) Machinery Co. Ltd., Yangzhou Kedi Electromechanical Manufacturing Co. Ltd., Newtec, Pellenc ST, Hefei Taihe Optoelectronic Technology Co. Ltd., SORTEX (Bühler), Allgaier Werke GmbH, NRT Optical Sorting (Bulk Handling Systems), Tolsa Group, ELISAM, S+S Separation and Sorting Technology GmbH, JRS Plastic Grinder, CFT Group, AMIS Maschinen-Vertriebs GmbH, Sino-Food Machinery Co. Ltd., Tong Engineering, Advanced Detection Systems
Sorting Machines Market 2024 Key Insights:
• The sorting machines market size is expected to see rapid growth in the next few years. It will grow to $6.49 billion in 2028 at a compound annual growth rate (CAGR) of 12.3%.
• Surging Food And Beverage Industry Fuels Sorting Machines Market
• Sorting Technology Revolutionizing Sorting Machines Market
• Europe was the largest region in the sorting machines market in 2023
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