What is the global market size of Cannabis Extraction Equipment Market?

Cannabis Extraction Equipment Market size was valued at USD 8.31 billion in 2021 and is poised to grow from USD 9.56 billion in 2022 to USD 33.74 billion by 2030, growing at a CAGR of 15.04% in the forecast period (2023-2030).

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

Q: What is the key driver of Global Cannabis Extraction Equipment 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.

Report ID: SQMIG20I2206 | Region: Global | Published Date: July, 2001
Pages: 221 | Tables: 63 | Figures: 75

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.

Cannabis Extraction Equipment Market Report Snapshots

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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 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. '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.'

As more people can purchase cannabis legally, the 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.

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.

In 2021, North America dominate the 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.

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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

Cannabis Extraction Equipment Market Regional Insights

Cannabis Extraction Equipment Market Report Snapshots

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What is the market size of Cannabis Extraction Equipment Market?

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