Acumen Research and Consulting has published a new report titled "Marijuana Drying and Curing Equipment Market (By Marijuana Type: Medical Marijuana, Recreational Marijuana; By Product Type: Buds, Oil, Tinctures; By Application: Chronic Pain, Mental Disorders, Cancer, Others) - Global Industry Analysis, Market Size, Opportunities and Forecast, 2018 - 2026". The worldwide marijuana drying and curing equipment market size is expected to around USD 146.0 billion by 2026, this market is foreseen to develop with 10.3% CAGR during the forecast time period.
Expanding number of nations legalizing cannabis for recreational and medical consumption and developing cannabis cultivation are some of the components driving need for curing and drying equipment. The quantity of patients living with incessant infections, for example, arthritis, headache, and disease, deciding on cannabis to ease torment has been on an ascent, along these lines powering market development.
Extensive legalization of hemp over the world is foreseen to support need for the same, which is foreseen to make business openings and advance needs being developed of capital equipment and cultivation facilities and relieving. Expanded need for high caliber and powerful marijuana is relied upon to fuel need for innovatively propelled equipment that can accelerate the drying procedure.
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The market is required to observe a steady chance of USD 81.4 million somewhere in the range of 2018 and 2025. Rising need for high caliber and intense hemp for treatment of different medical conditions has increased the requirement for its creation through natural strategies. Improvement of advance drying and curing equipment helps avoid oil preservations, moisture variations, contamination, and which was generally hard to keep up by customary strategies. This has made a relative favourable position for present day procedures and equipment.
The worldwide marijuana cultivation market is amazingly divided with myriad growers, the greater part of which are packed in North America. Therefore, the region reflects the most astounding need for these machines. The quantity of cultivators in Germany and Australia is required to observe grand development as the nation’s push toward indigenous production. This is foreseen to drive need for marijuana curing and drying equipment somewhere in the range of 2018 and 2025.
The global marijuana drying and curing equipment market is segmented into marijuana type, product type, medical application, and region.On the basis marijuana type, the global marijuana drying and curing equipment market is segmented into medical marijuana and recreational marijuana. On the basis product type, the global marijuana drying and curing equipment market is segmented into buds, oil, and tinctures. On the basis medical application, the global marijuana drying and curing equipment market is segmented into Chronic Pain, Mental Disorders, Cancer, and Others. On the basis of region the global marijuana drying and curing equipment market is bifurcated into Europe, Latin America, North America, Middle East & Africa, and Asia Pacific.
U.S. captures the largest market for global the marijuana drying and curing equipment market in 2018, with a 56.0% revenue share, and is required to keep up its strength over the coming years. Expanding utilization of cannabis for medical and recreational purposes and rising cannabis development is relied upon to drive need for these machines with various advancements. Likewise, surging consumer preference for astounding cannabis with low dampness content, bring down horrendous scent, and similarly higher dynamic fixings will reinforce market development.
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The Germany market is anticipated to observe the quickest revenue development at a CAGR of 5.8% somewhere in the range of 2020 and 2025. The potential progression of Germany's cannabis development control by 2020 and rising number of organizations putting resources into development of marijuana is foreseen to drive need for these devices in the nation. Presences of an expansive populace base and developing number of patients appearing for medical marijuana in the treatment and indication control of various diseases are likewise liable to make Germany one of the key markets in Europe.
Canada represented are venue offer of 32.4% in 2018 and is foreseen to show a vigorous CAGR of 5.2% over the coming years. Legalization of recreational cannabis, expanded hemp utilization, and developing need for marijuana edibles are some of the variables adding to appeal for drying and and curing equipment in Canada. Furthermore, weed developing organizations, for example, Aurora Cannabis and Canopy Growth are thinking about the extension of their development limit, which is relied upon to profit showcase development amid the forecast period.
Some of the mainkey players associated with the marijuana drying and curing equipment market are Tikun Olam, Canopy Growth Corporation, ABcannMedicinals, Inc., Aphria, Inc., Organigram Holdings, Inc, Aurora Cannabis, The Cronos Group, Maricann Group, Inc., and Tilray.
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