USD 8.31 billion
Cannabis Extraction Equipment Market Size, Share, Growth Analysis, By Type(Extraction Equipment, Sub/Supercritical Co2 Extraction Equipment, Hydrocarbon Extraction, Others), By Application(Hemp extraction, Marijuana extraction), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG20I2206 |
Region:
Global |
Published Date: July, 2001
Pages:
221
|Tables:
63
|Figures:
75
Cannabis Extraction Equipment Market Insights
Cannabis Extraction Equipment Market size was valued at USD 8.31 billion in 2019 and is poised to grow from USD 9.56 billion in 2023 to USD 33.74 billion by 2031, growing at a CAGR of 15.04% in the forecast period (2024-2031).
The cannabis extraction equipment industry is growing because there is a growing demand for cannabis extracts like oils and tinctures, as more countries are legalizing marijuana to treat chronic diseases like arthritis, Alzheimer's, anxiety, and cancer. However, as more people get aware of the medical benefits of marijuana the demand for its byproducts will drive the market growth. The market for cannabis extract is expected to grow because more people are suffering from cancer, diabetes, and other diseases.
According to a report from the American Cancer Society, there would be more than 1.9 million new cancer cases in the US in 2019. Also, the World Health Organization (WHO) says that 2.5% of the world's population uses cannabis in some way every year. This means that more people are looking for CBD which will propel the market growth during the forecast period.
US Cannabis Extraction Equipment Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Extraction equipment
Fastest Growth
Extraction equipment
Growth Rate
15.04% CAGR
Global Cannabis Extraction Equipment Market ($ Bn)
Country Share for North America Region (%)
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Cannabis Extraction Equipment Market Segmental Analysis
The global cannabis extraction equipment market is segmented based on type, application, and region. Based on type, the market is segmented into extraction equipment, sub/supercritical co2 extraction equipment, hydrocarbon extraction, and others. Based on application, the market is segmented into hemp extraction and marijuana extraction. Based on region, the global Cannabis Extraction Equipment market is segmented into North America, Europe, Asia-Pacific, South America, and MEA.
Cannabis Extraction Equipment Market Analysis by Type
The cannabis extraction equipment market is divided into extraction equipment, sub/supercritical co2 extraction equipment, hydrocarbon extraction, and others based on their types of which the extraction equipment accounted for the largest market share during the year 2021 and is expected to hold the same throughout the analysis period. growing awareness regarding the use of hemp in medical conditions and increasing usage in various medications are driving the demand for hemp in medical use that is propelling the cannabis extraction market during the forecast period.
Cannabis Extraction Equipment Market Analysis by Application
In 2021, the hemp extraction segment accounted for the largest market share of the global cannabis extraction market and is expected to dominate throughout the analysis period. hemp is used for various medical condition treatment as side therapy such as constipation, high cholesterol, eczema, arthritis, and many other conditions which is driving the demand for the hemp extraction segment. The marijuana extraction segment is expected to show the fastest growth during the analysis period due to its increasing demand and these all factors will propel the cannabis extraction equipment market during the analysis period.
Global Cannabis Extraction Equipment Market By Type
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Cannabis Extraction Equipment Market Regional Insights
In 2021, North America dominate the global cannabis extraction equipment market and this domination is due to the US being the largest consumer and producer of it. Investments in the field of cannabis extraction equipment increased after the 2018 farm bill legislation in the US which gave a huge boost to the market and propel the demand for the cannabis extraction equipment market during the same period. advanced technology and automated function to produce products with precision are driving the cannabis extraction equipment market in the region.
Growth in the pharmaceutical and food and beverage industries in the Asia Pacific is expected to boost the cannabis extraction equipment market in the region. It's estimated that Australia and New Zealand will control about 34.1% of the Asia-Pacific market. In addition, the market for cannabidiol extraction equipment in Australia and New Zealand is expected to grow at a substantial CAGR of 10.5% throughout the analysis period. These are some of the factors driving the cannabis extraction equipment market during the analysis period.
Global Cannabis Extraction Equipment Market By Region
- Largest
- Fastest
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Cannabis Extraction Equipment Market Dynamics
Cannabis Extraction Equipment Market Driver
Increasing demand and government regulations favoring the extraction and product derivation from cannabis are driving the market.
- As more people can purchase cannabis legally, the global cannabis extraction equipment industry is expected to grow. This will affect the social standards and regulatory frameworks considerably in a positive direction. Growth in R&D spending by businesses and supportive government norms is also expected to fuel demand for cannabis extraction equipment during the analysis period.
Cannabis Extraction Equipment Market Restraint
High manufacturing costs and the lack of essential raw materials are the major restraints.
- The major challenges facing the cannabis extraction equipment market are the high manufacturing costs and the lack of essential raw materials. cannabis extraction equipment has a higher production cost since it is made from more expensive components with a longer lifespan and higher durability, which leads to a more complicated pricing structure. These are factors that restrain and slow the market growth during the analysis period.
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Cannabis Extraction Equipment Market Competitive Landscape
The Cannabis Extraction Equipment market is relatively fragmented, with a high level of competition. Few large players, like Rough Brothers, Inc., Eden Labs, and Isolate Extraction Systems Inc., now control the market in terms of market share. These industry leaders are extending their customer base across several areas, and many corporations are creating strategic and collaborative initiatives with other start-up enterprises to enhance their market share and profitability.
Cannabis Extraction Equipment Market Top Player’s Company Profiles
- Apeks Supercritical
- Buchi Labortechnik AG
- Capna Systems
- Delta Separations LLC
- Eden Labs LLC
- ExtraktLAB
- GEA Group AG
- Green Mill Supercritical
- Isolate Extraction Systems Inc.
- Kind Enterprises Ltd.
- Lab Society
- MRX Xtractors
- Precision Extraction Solutions
- Root Sciences LLC
- Shanghai Better Industry Co. Ltd.
- SFE Process
- Thar Process Inc.
- VTA Verfahrenstechnische Anlagen GmbH & Co. KG
- Waters Corporation
- Xtraction Services Holding Corp.
Cannabis Extraction Equipment Market Recent Developments
- In January 2022, Gibraltar Industry announced its new product for people who process cannabis called Delta Ethanol Extraction CUP-5. The company has made closed-loop cold alcohol extraction technology that is new and advanced in terms of technology.
- In October 2021, Green Mill Supercritical announced its product launch of PARALLEL PRO equipment for extracting cannabis. This product has a competitive design that makes it easy and cheap to increase capacity by making the extraction parts bigger.
Cannabis Extraction Equipment Key Market Trends
- A new generation of transformational innovators is prioritizing the use of technology and digital enablement through AI and machine learning to achieve efficient cost management. Demand for CBD extraction machinery is expected to rise in the next years as manufacturers adopt cutting-edge technologies based on IR4.0 and IR5.0, which include energy-efficient standards and help lower operational costs by integrating technology like self-cleaning systems.
- Many companies have begun incorporating automated technologies into the cannabis extraction process in response to the rising demand for technology that can improve upon the current extraction methods. These techniques are well suited for use in the medical and food, and beverage sectors, and other sectors. This will help to reduce the total cost of production and operations which will drive the demand for new generation cannabis extraction equipment and propel the market growth during the analysis period.
Cannabis Extraction Equipment Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analysis, the cannabis extraction equipment industry is growing because of a growing demand for cannabis extracts like oils and tinctures. According to the American Cancer Society, there would be more than 1.9 million new cancer cases in the US in 2022. The World Health Organization (WHO) says that 2.5% of the world's population uses cannabis in some way every year. This means that more people are looking for CBD which will propel the market growth during the analysis period. In 2021, the hemp extraction segment accounted for the largest market share of the global cannabis extraction equipment market. Growing awareness regarding the use of hemp in medical conditions and increasing usage in various medications are driving the demand for hemp extraction equipment. The marijuana extraction segment is expected to show the fastest growth during the analysis period due to its increasing demand. Australia and New Zealand will control about 34.1% of the Asia-Pacific market.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 8.31 billion |
| Market size value in 2031 | USD 33.74 billion |
| Growth Rate | 15.04% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
| Historical Year | 2019 |
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Cannabis Extraction Equipment Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Cannabis Extraction Equipment Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Cannabis Extraction Equipment Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Cannabis Extraction Equipment Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Cannabis Extraction Equipment Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Cannabis Extraction Equipment Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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