29 November 2019
Visiongain has launched a new pharma report ‘’Marijuana Drying and Curing Equipment Market Report 2020-2030’’
Global marijuana drying and curing equipment market is anticipated to grow on account of growing legalization across several countries for medical and recreational consumption coupled with an increase in cannabis cultivation across the globe. The global marijuana drying and curing equipment market is anticipated to grow at a lucrative CAGR of 10.8% and anticipated to reach USD 266.36 Million by 2030.
The widespread legalization of hemp across the globe is anticipated to fuel demand for marijuana drying and curing equipment market, thus creating fresh revenue generation avenues and opportunities for the companies. Also, it is projected that a growing demand for high-quality and potent marijuana will further boost global market growth for technologically advanced equipment that can accelerate the drying and curing process.
Increasing demand for high quality and potent hemp for the treatment of numerous medical conditions has increased the production of marijuana across the globe. The development of technologically advanced drying and curing equipment has helped in avoiding contamination, moisture variations, & oil preservation, which was otherwise hard to maintain using traditional methods.
With myriad growers, most of whom are concentrated in the North American region, the global marijuana cultivation market is extremely fragmented. As a result, the highest demand for these machines is reflected in North America. However, over the forecast period, Australia and Germany will experience tremendous growth in the marijuana cultivation industry as the countries shift towards indigenous development.
In the year 2018, U.S. dominated marijuana drying and curing equipment market with over 50% market share. Dominance is attributed to the increased consumption of marijuana for recreational and medical purposes. Also, growing demand from end-users for high-quality marijuana with low moisture content, higher THC content, and low unpleasant odor are some of the factors which are anticipated to fuel demand for advanced marijuana drying and curing equipment over the forecast period.
Canada is the second-largest market in terms of market share. Some of the factors which are responsible for Canadian marijuana drying and curing equipment market are the legalization of recreational cannabis, increased demand for marijuana edibles, and increased hemp consumption among other contributing growth factors. Also, the presence of cannabis growing and distributing companies such as Canopy Growth & Aurora Cannabis are considering expanding their growing capacity, which is anticipated to boost market growth over the forecast period from 2020-2030.
Germany's marijuana drying and equipment market is anticipated to witness the fastest growth in the European region. Also, the country is one of the largest medical marijuana markets outside North America and accounts for maximum sales as compared to other European nations. The possible liberalization of Germany's legislation on cannabis cultivation by 2020 and the growing number of companies investing in marijuana cultivation are expected to drive demand in the country for marijuana drying and curing equipment. Also, the growing number of patients showing a preference for medical purposes for a variety of ailments would further boost growth in Germany.
The comprehensive market report features companies such as Auto Cure, Cann Systems, LLC, Cannabis Drying Technology (CDT), Cannatrols, Canncas, Conviron, Darwin Chambers, Dhydra Technologies, PROTEIN SOLUTIONS GROUP, LLC, Sanitary Design Industries, VULCAN DRYING SYSTEMS, and Yofumo Technologies Inc. among other prominent players. Also, the research study offers market estimation and forecast for the period ranging from 2020-2030 for global markets such as the U.S., Canada, Australia, Germany, Israel, Uruguay, Colombia and the Rest of the World.
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