Technavio market research analysts forecast the global sorting equipment marketto grow at a CAGR of close to 8% during the forecast period, according to their latest report.
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Technavio has published a new report on the global sorting equipment market from 2017-2021. (Graphic: Business Wire)
The market study covers the present scenario and growth prospects of the global sorting equipmentmarketfor 2017-2021. The report also lists food sorting, mineral sorting and waste sorting as the three main end-user segments of the global sorting equipment market.
The food processing sector accounted for a market share of close to 84% in 2016. With the growing demand and consumption of food products, more food manufacturers are expected to invest in this technology to ensure impurity-free food. This sector is expected to maintain its dominant position in the sorting equipment market during the forecast period.
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Technavio analysts highlight the following three market drivers that are contributing to the growth of the global sorting equipment market:
- Growing concerns about food quality
- Awareness about the benefits of automation
- Stringent regulatory standards
Growing concerns about food quality
Food security is one of the biggest concerns worldwide. The have been numerous instances of foodborne illnesses and contamination in recent times. Spoilt or low-quality food can result in serious health implications and even death. Food manufacturers need to ensure the quality of food before the packaging stage. The fresh produce or raw materials contain contaminants and germs, while some materials are of inferior quality.
Food quality is enhanced through the removal of certain low molecular weight materials, such as the removal of cholesterol from milk and butter, without compromising on the nutritional value. Such processes offer growth opportunities that comply with the ongoing trend of increasing health consciousness among consumers.
"Food product manufacturers must comply with the guidelines for food manufacturing and quality. They use processing machinery or sorting equipment to ensure that the highest grade of raw material is used in the production process. There will be a considerable demand for sorting equipment during the forecast period, thus contributing to the global market growth," says Chetan Mohan, a lead research analyst at Technavio for embedded systems research.
Awareness about the benefits of automation
Productivity can be significantly improved by adopting automation. Automation can also help in improving the efficiency and reducing the costs associated with operating, maintenance, and wastage. Automated food sorting machinery can eliminate operational errors. This helps in minimizing faults in the manufacturing processes and increasing the overall quality and productivity.
"Vendors need to shift their focus to emerging economies as developed economies have already adopted automation. These factors are expected to stimulate the growth of the global sorting equipment market during the forecast period," says Chetan.
Stringent regulatory standards
Governments worldwide have implemented stringent policies to encourage food safety, waste reduction, and recycling. Also, there is a heightened awareness about the depreciating amount of natural resources among global communities. This has given rise to several measures that reduce the dependence on the use of natural resources and move to other alternative sources.
The US government has set regulations under the Environmental Protection Agency regarding state environmental policies and integrated waste management plans. State environmental policies have set requirements regarding mining activities and sorting of waste before they are dumped in landfills to prevent contamination. These policies must be incorporated by companies that function in such sectors. Thus, the presence of stringent environmental and health regulations is expected to generate demand for sorting equipment in the market.
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Technaviois a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.
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