United States, Rockville, MD, May 11, 2022 (GLOBE NEWSWIRE) -- According to the latest industry analysis published by Fact.MR, a market research and competitive intelligence provider, the global CBD extraction equipment market is expected to expand at a CAGR of 12.8% and reach a market valuation of US$ 152.4 Mn by the end of 2032.
The pharmaceutical and food & beverage end-use sectors promise significant growth and a dynamic shift in CBD extraction equipment. Moreover, technological advancements are paving the way for the CBD product market, and thereby, for extraction equipment. Additionally, political, social, and economic factors aid not only CBD extraction equipment suppliers but also consumer preferences for CBD products.
There is dynamically shifting customer preference toward advanced CO2 and solvent-based CBD extraction equipment, owing to need for efficient and precise CBD production in end-use sectors. Favorable government regulations for CBD product derived from hemp and marijuana will provide ample opportunities for CBD extraction equipment manufacturers during forecast period.
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CO2-based CBD extraction equipment demand is expected to see steady growth due to efficient and safe operations. Solvent-based CBD extraction equipment accounted for roughly 28.2% of total CBD extraction equipment sales in 2021.
Key Takeaways from Market Study
- On the basis of type, the market is projected to be dominated by CO2-based extraction equipment, which is projected to account for 73.6% market share by 2032.
- North America is likely to be the most attractive region and utilize more than 3,400 units of CBD extraction equipment by 2032.
- By capacity, up to 2.5 Kg/h is likely to account for 38.2% revenue share and create an absolute $ opportunity of US$ 41.6 Mn over the assessment period.
- Marijuana-derived CBD extraction equipment is projected to grow 3X by value, while hemp-derived CBD extraction equipment will grow by 3.5X by 2032.
- The European market is expected to register a CAGR of 14.3% over the forecast period.
- Under end-use industry, pharmaceuticals is medical are estimated to account for approximately a 43.6% share in 2022, but is expected to lose 407 BPS in its market share by 2032.
”In recent times, the CBD market has witnessed normalization, commercialization, and liberalization, which will led to the expansion of the CBD extraction equipment market going forward,” says a Fact.MR analyst
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Winning Strategy
Standard capacity CBD machine manufacturing has been a prominent approach by manufacturers for a long time. Changing government regulations for CBD products push manufacturers to change their strategies based on current norms. Prominent market players have started manufacturing customized products for specific purposes.
To meet the tailored requirements of the industry, market player are diversifying their product portfolios. Some CBD extraction equipment companies have started manufacturing equipment for emerging end-use industries such as food processing & beverages and cosmetics. However, government bodies across the world are imposing restrictions on the addition of cannabidiol in beverages and food items amid anecdotal clinical evidence, despite the industrial hemp having received a green signal, leaving consumers bewildered about the effects of Cannabidiol.
Vertical integration of business strategy is allowing manufacturers to keep ahead of other competitive market players. This includes integration of production the process and supply chain, including cultivation, extraction, and refinement operations. PAOG is on pace to introduce a CBD Nutraceuticals range of products that will generate income this year, in 2021.
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Key Segments Covered in CBD Industry Survey
- Source
- Hemp-based CBD
- Marijuana-based CBD
- Form
- CBD Processed Oil
- CBD Distillate
- CBD Isolate
- Grade
- Food Grade CBD
- Therapeutic Grade CBD
- Application
- CBD for Food & Beverage
- CBD for Cosmetics & Personal Care
- CBD for Pharmaceuticals
- CBD for Other Applications
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More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global CBD extraction equipment market, presenting historical demand data (2017-2021) and forecast statistics for the period of 2022-2032.
The study divulges essential insights on the market on the basis of extraction type (solvent extraction, CO2 extraction, hydrocarbons extraction, mechanical separation, cold pressed extraction, rosin pressed extraction), extraction material (marijuana, hemp), capacity (up to 2.5 Kg/h, 2.5 - 5 Kg/h, 5 - 8 Kg/h, 8 - 10 Kg/h, above 10 Kg/h), and end-use sector (cultivation & processing, industrial (pharmaceuticals, food & beverages, personal care & cosmetics)), across five major regions (North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa).
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