With 7.3% CAGR, Optical Sorter Market Size Worth USD 3.61 Billion In 2029

Fortune Business Insights
Fortune Business Insights

As per the report by Fortune Business Insights, the global optical sorter market size is projected to reach USD 3.61 billion in 2029, at a CAGR of 7.3% during the forecast period, 2022-2029

Pune, India, Oct. 06, 2022 (GLOBE NEWSWIRE) -- The global Optical Sorter Market Size was valued at USD 2.12 billion in 2021 and is expected to reach a valuation of USD 2.21 billion in 2022. The market is expected to reach USD 3.61 billion by 2029 with a CAGR of 7.3% during the forecast period. Rising demand for food packers, food processing units, and cultivators is projected to propel a positive market progress. Adoption of advancements and innovations and development of advanced technology-based sorters are expected to shape market course. Rise in the adoption and development of advanced color-based sorting machines is expected to aid market development. Fortune Business Insights™ shares this information in its report titled “Optical Sorter Market, 2022-2029.”


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Key Industry Development

June 2022- GRIMME UK partnered with Haith Group for the development of new technology joint project named mobile optical sorter. The project is designed to remove clod, stone, and foreign debris from potatoes that helps farmers to cope with labor shortages.

Report Scope & Segmentation

Report Coverage

Details

Forecast Period

2022 to 2029

Forecast Period 2022 to 2029 CAGR

7.3%

2029 Value Projection

USD 3.61 Billion

Base Year

2021

Optical Sorter Market Size in 2021

USD 2.12 Billion

Historical Data for

2018 to 2020

No. of Pages

172

Segments covered

Type; End-User

Optical Sorter Market Growth Drivers

Increasing Adoption of Sorter in the Food Processing Industry to Aid Market Growth

High Costs Associated with Machine Manufacturing to Hinder Market Growth


COVID-19 Impact:

Halt on International Trade Activities During Pandemic Led to Market Decline

The outbreak of COVID-19 led to the downfall in demand due to restrictions in international trade activities. Halt in various end-user industries, such as mining, food & beverage, and others, affected the demand for the product negatively.


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Drivers and Restraints

Adoption of Sorters in the Food Processing Industry to Fuel Market Progress

Increasing adoption of sorter in the food processing industry as it helps in the reduction of wastes is estimated to drive the optical sorter market growth. There is rise in the food industry at a rapid pace due to increasing demand for packaged food products. Increasing labor wages in various countries and strict rules & regulations for packaged food packaged products is estimated to propel market growth. Various food processing manufacturers have been adopting advanced technology to avoid wastage of food.

However, high cost in machine manufacturing is projected to hamper market development.

Regional Insights

Asia Pacific to Lead the Market Due to Presence of Leading Manufacturers

Asia Pacific is projected to lead the optical sorter market share and is estimated to have highest part due to the presence of leading manufacturers of optical sorters. Rise in the number of food processing manufacturers due to growing population is expected to drive market growth. Development of advanced sorters for food and recycling plants in the region is anticipated to propel market growth.

North America is estimated to have a moderate CAGR due to rising demand from waste recycling plants. Development of advanced technology-based sorters in this region is also set to push market development.

Europe is projected to have a moderate CAGR due to demand from food and beverage manufacturers. Investments in advanced technology for processing manufacturers will drive the region’s market growth.

Competitive Landscape

Planned Expansions by Key Players to Dictate Market Course

Primary players of the market have used planned expansion, new product, acquisitions, mergers, and partnerships strategies to gain market grip. In October 2020, Satake launched an advanced sorter called FMSR-IR at Pack Expo in Las Vegas. The machine removes unwanted products, irregular-shaped and defects from products such as dry beans, seeds, tree nuts, corn, and plastics. Other companies, such as TOMRA, BarcoVision, Daewon GSE, BT-Wolfgang Binder, Bühler Sortex, and others, have been focusing on enhancing their processes by offering advanced optical sorter.


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Report Coverage

The report provides a detailed analysis of the top segments and the latest trends in the market. It comprehensively discusses the driving and restraining factors and the impact of COVID-19 on the market. Additionally, it examines the regional developments and the strategies undertaken by the market's key players.

Segments

Camera Sorter to Lead Due to Increasing Adoption

On the basis of type, the market is segmented into camera sorter, laser sorter, Near Infrared (NIR) sorters, hyperspectral cameras & combined sorters, and others (color sorters). Camera sorter segment is expected to hold a major part in 2021. The dominance is due to rising adoption of such machinery in the food processing industry.

Food and Beverages to Dominate Due to Rising Consumption of Cereals

Based on end-user, the market is segmented into food and beverages, waste recycling, mining, pharmaceutical, and others (logistics, nutraceuticals). Food and beverages dominated the end-user segment due to rising production and consumption of cereals. Pharmaceutical segment is also anticipated to have a moderate CAGR due to demand for sorting of essential pharmaceutical drugs and devices.

Geographically, the market is divided into North America, South America, Europe, Asia Pacific, and the Middle East & Africa.

List of Key Players Profiled in the Report

  • TOMRA (Norway)

  • Buhler Group (Switzerland)

  • Key Technology Inc. (U.S.)

  • Binder (Austria)

  • Satake (U.S.)

  • Allgaier Werke (Germany)

  • Cimbria (Denmark)

  • C.P. Manufacturing (U.S.)

  • GREEFA (Netherlands)

  • NEWTEC (Denmark)

  • National Recovery Technologies (U.S.)


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Major Table of Contents:

  • Introduction

    • Definition, By Segment

    • Research Methodology/Approach

    • Data Sources

  • Executive Summary

  • Market Dynamics

    • Drivers, Restraints, Opportunities and Trends

    • Impact of COVID-19

      • Short-term Impact

      • Long-term Impact

  • Competition Landscape

    • Business Strategies Adopted by Key Players

    • Consolidated SWOT Analysis of Key Players

    • Global Optical Sorter Key Players Market Share Insights and Analysis, 2021

  • Global Optical Sorter Market Size Estimates and Forecasts, By Segments, 2018-2029

    • Key Findings

    • By Types (USD)

      • Camera Sorter

      • Lasers Sorter

      • Near Infrared (NIR) Sorters

      • Hyperspectral Cameras & Combined Sorters

      • Others (Belt Sorter)

    • By End-user (USD)

      • Food and Beverages

      • Waste Recycling

      • Mining

      • Pharmaceutical

      • Others (Logistics, Nutraceutical)

    • By Region (USD)

      • North America

      • South America

      • Europe

      • Middle East & Africa

      • Asia Pacific

  • North America Optical Sorter Market Size Estimates and Forecasts, By Segments, 2018-2029

    • Key Findings

    • By Types (USD)

      • Camera Sorter

      • Lasers Sorter

      • Near Infrared (NIR) Sorters

      • Hyperspectral Cameras & Combined Sorters

      • Others (Belt Sorter)

    • By End-user (USD)

      • Food and Beverages

      • Waste Recycling

      • Mining

      • Pharmaceutical

      • Others (Logistics, Nutraceutical)

    • By Country (USD)

      • United States

      • Canada

      • Mexico

TOC Continued…!


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