Marijuana Drying and Curing Equipment Market Size, Share and Growth Report, 2019 to 2025
by Susan Hill Business ConsultantThe global marijuana drying and curing equipment market size is
expected to reach USD 157.1 million by 2025, according to a new report by Grand
View Research, Inc., registering a 10.4% CAGR during the forecast period.
Increasing number of countries legalizing cannabis cultivation and consumption,
growing cultivation capacity, rising cannabis preference by patients suffering
from cancer pain, arthritis, and epilepsy, as well as for other relevant
medical conditions are some of the factors driving demand for marijuana drying
and curing equipment.
Stringent quality standards for cultivation and
curing of medical
marijuana is anticipated to boost demand for high quality and potent
marijuana produced through organic methods due to their usage in treatment of
various medical conditions. These newly developed machines help avoid
contamination, prevent moisture variations, preserve active ingredients, and
maintain optimum external conditions, all of which were difficult to maintain
by traditional methods. Thus, higher product quality obtained through these
equipment is expected to drive the market.
The number of weed cultivators has increased at a
rapid rate with a rise in the number of countries legalizing marijuana.
Globally, North America was the largest contributor in terms of number of
marijuana cultivators in 2017. This has had a positive impact on demand for
marijuana drying and curing equipment, as consumer demand shifts to high
quality and potent products.
U.S. dominated this market in 2017, with a 55.0%
revenue share, and is expected to maintain its dominance through 2025. This is
attributed due to rapid legalization of cannabis in an increasing number of
states in the country and growing consumption of medical cannabis for chronic
pain, arthritis, cancer, and epilepsy. U.S. is anticipated to witness
incremental opportunity of USD 17.6 million between 2018 and 2025, owing to
potential legalization
of cannabis in other states. Germany is expected to witness the
second-highest incremental opportunity of USD 11.7 million between 2020 and
2025 as the country is expected to start distributing licenses for weed
cultivation in early 2019. This, in turn, is expected to drive demand for
marijuana drying and curing equipment over the forecast period.
Further
key findings from the report suggest:
- U.S. dominated the global market in 2017, owing to rising number of
states legalizing the cultivation, sale, and consumption of marijuana; the
incremental opportunity in the country is expected to be USD 17.6 million
between 2018 to 2025
- Germany is anticipated to be the fastest growing market with a CAGR
of 5.9 % between 2020 and 2025. The country is expected to start
distributing licenses for weed cultivation in early 2019
- Some of the key market players in the market are Cann Systems, LLC; Darwin Chambers; Conviron; Autocure; Yofumo Technologies, Inc.; DHydra Technologies; EnWave Corporation; HARTER GmbH; and PROTEIN SOLUTIONS GROUP, LLC.
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Created on Jun 25th 2019 05:06. Viewed 502 times.