Global Palm Date Processing Equipment Markets 2020-2027: Focus on Pitting, Fumigation, Packing
20 January 2021
Dublin, Jan. 20, 2021 (GLOBE NEWSWIRE) -- The "Palm Date Processing Equipment - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering. Key Topics Covered: 2. FOCUS ON SELECT PLAYERS III. MARKET ANALYSIS IV. COMPETITION For more information about this report visit https://www.researchandmarkets.com/r/pty6ad Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research.
Global Palm Date Processing Equipment Market to Reach $49.5 Million by 2027
Amid the COVID-19 crisis, the global market for Palm Date Processing Equipment estimated at US$35.4 Million in the year 2020, is projected to reach a revised size of US$49.5 Million by 2027, growing at a CAGR of 4.9% over the analysis period 2020-2027.
Pitting, one of the segments analyzed in the report, is projected to record a 5.8% CAGR and reach US$21.4 Million by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Fumigation segment is readjusted to a revised 4% CAGR for the next 7-year period.
The U. S. Market is Estimated at $9.6 Million, While China is Forecast to Grow at 7.6% CAGR
The Palm Date Processing Equipment market in the U. S. is estimated at US$9.6 Million in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$10.2 Million by the year 2027 trailing a CAGR of 7.6% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.6% and 4.4% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 3% CAGR.
Packaging Segment to Record 4.8% CAGR
In the global Packaging segment, USA, Canada, Japan, China and Europe will drive the 4.3% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$5.8 Million in the year 2020 will reach a projected size of US$7.9 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$6.6 Million by the year 2027, while Latin America will expand at a 5.8% CAGR through the analysis period.
The report presents concise insights into how the pandemic has impacted production and the buy side for 2020 and 2021. A short-term phased recovery by key geography is also addressed.
Competitors identified in this market include, among others:
I. INTRODUCTION, METHODOLOGY & REPORT SCOPE
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
3. MARKET TRENDS & DRIVERS
4. GLOBAL MARKET PERSPECTIVE
GEOGRAPHIC MARKET ANALYSIS
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