The global market for the sorting hampers market is estimated to be worth USD 3,161.3 million in 2021 and is anticipated to reach a value of USD 5,769.2 million by 2031. Sales are projected to rise at a CAGR of 6.2% over the forecast period between 2021 and 2031. The revenue generated by the sorting hampers market in 2020 was USD 3,081.2 million. The industry is anticipated to exhibit a Y-o-Y growth of 2.6% in 2021.
Global Sorting Hampers Market Industry Assessment
| Attributes | Key Insights |
|---|---|
| Historical Size, 2020 (A) | USD 3,081.2 million |
| Estimated Size, 2021 (E) | ~USD 3,161.3 million |
| Projected Size, 2031 (F) | ~USD 5,769.2 million |
| Value-based CAGR (2021 to 2031) | ~6.2% |
The target market is segmented under the application and end-use industry. The market is further sub-categorized under these segments to provide a granular aspect which will benefit the businesses operating in the market to improve on their products, gain a competitive edge over other players, and grasp a major portion of the market, in parallel.
The sorting hampers market is growing rapidly due to the rising consumer awareness regarding the need for order in laundry management. Given that possessing less and getting rid of unnecessary items is the recent tendency, multi-compartment hampers that enable dividing clothes are becoming an innovation.
Consumers are also opting for sustainable materials such as bamboo and recycled plastics, which in turn helps increase demand.
With an increased tendency towards apartment living and living in small homes, collapsible sorting hampers are favoured for their versatility. Demand for products to organize a home and keep it neat is also on the rise due to trends.
The competitive landscape of the sorting hampers market is characterized by a mix of established players and emerging brands, each vying to capture a share of this growing segment. Key players in the market include TOMRA Sorting Solutions, Daifuku Co., Ltd., ZenRobotics Ltd., and Active Marketing Co., Ltd., among others. Key companies compete on factors such as design innovation, material quality, and brand reputation.
The industry is set to experience upward growth during the forecast period. It is projected to create an incremental opportunity of USD 2,607.9 million and is predicted to rise approximately 1.8 times the current market value through 2031.
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According to the latest research by Future Market Insights, the sorting hampers market is set to witness steady growth during 2021-2031, with a CAGR of around 6%.
Demand for sorting hamper will witness steady growth owing to the factors such as fueling of demand for automation in the food industry, improving the economic conditions, urbanization, and growing need to improve the working efficiency in the packaging unit. Such factors are likely to boost the demand for sorting hampers in the market.
The rising demand from various industries and residential areas is expected to fuel the demand for the sorting hampers industry.
Additionally, industries involving mass production and exporting of goods like from Pharmaceutical and Automotive industries serve as a high significance for the sorting hampers industry as arranging products will help in improving the work efficiency and will guarantee limited process time.
Further, residential areas also have a huge demand for sorting hampers as consumers like to keep their books, medicines, clothes, etc., in an arranged manner to save them time instead of exploring the whole lot. The busy lifestyles of individuals and changing preferences create an opportunity for the sorting hamper to grow in the residential area.
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The growing implementation of optical sorting in the food industry, an alternative to manual sorting attributing to the rise in shortage of labor, and an enlarged interest from consumers to be served with top-notch systems are likely to grow the sales of sorting hampers.
Further, the rising labor cost is likely to demand the service providers to implement self-service, thus, growing the demands and sales of sorting hamper.
With rapid urbanization and the rising need to integrate the industries in order to boost production, sorting hamper are likely to help the employees to reduce human effort and improve efficiency.
This will result in helping the industry to spread their business worldwide and stand out in the growing competitiveness. This would help them to make more than their estimated projections, thus, creating new opportunities for the sorting hampers industry.
The countries of North America are the largest market for the implementation of sorting hamper globally. The rising population leading to the creation of waste from residential and commercial sectors is likely to grow tremendously thus, boosting the demand and sales of sorting hamper.
Further, the industries are currently, heavily reliant on the laborers to conduct their automation process which increases the chance of risk in business, therefore, growing the demand for improvement in the automation of systems to improve efficiency.
Such regions are also experiencing growing demand from consumers due to development in technologies and adoption of digital platforms, which is encouraging the presence of individuals more on the internet and e-commerce. In order to maintain a large and transparent inventory and allow the business to run smoothly, the demand for sorting hampers is likely to grow in the forecast period.
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Many countries in Europe have been severely impacted by the COVID-19 crisis, which has led to a decline in economic activities.
However, with the changing methodologies among manufacturers and suppliers and rising demand for the latest automation of work processes in order to save time and money and focus on customer experience, the adoption of sorting hamper is likely to grow.
Due to the presence of various large industrialists and a huge global spread in terms of land, the regions account for almost one-third of the market share overall.
Thus, the return is as good as five times the investment, encouraging the growth of automated sorting techniques in order to reduce human effort. Further, the growing expansion with other developing countries is likely to recreate the demand for sorting hamper.
Some of the leading manufacturers and suppliers of sorting hampers include
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain.
The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments.
The report also maps the qualitative impact of various market factors on market segments and geographies.
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Sorting Hampers Market
