The smart drone services market is projected to attain a value of US$ 2.0 billion by 2023 and is anticipated to experience a compounded annual growth rate (CAGR) of 17.7% to achieve a market size of US$ 10.5 billion by 2033. The Smart Drone Services market has emerged as a dynamic and rapidly evolving sector, leveraging cutting-edge technologies to redefine industries and services. Drones, or U...
Industrial Hemp one of the Cannabis sativa species is used across the globe for manufacturing various commercial and industrial goods. Due to its versatility of being used across multitude of products and various health benefits, there’s been a significant increase in demand, thereby, catapulting hemp processing equipment market at a faster rate to meet the market requirements.
Furthermore, hemp processing equipment finds its application in extracting various products such as fibers, herds, seeds, oil and beverages is pushing the demand for hemp processing equipment which can help to get end product from hemp. Moreover, Hemp-based medicines are generally suggested for therapeutic application by doctors around the globe. Bio-degradable plastics are manufactured using hemp which can be used as a substitute for the existing non-biodegradable plastics in the market. All these benefits of hemp is creating significant demand which is cushioning hemp processing equipment market.
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Multi-product extracting hemp processing equipment is the need of an hour. Multi-product manufacturing hemp processing equipment is capable of extracting oil, seeds, fibers and hurd at the same time, thereby, saving substantial time and money for the manufacturers with the added benefits from production of various products. Adaptation to such hemp processing equipment will ensure growth and further development in hemp processing equipment market with an expectation of a single-digit rise in the CAGR over the forecasted period in hemp processing equipment market.
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Segmentation Analysis of Hemp Processing Equipment Market
The Global Hemp Processing Equipment market is bifurcated into four major segments: processing, extraction, end user, and region.
Based on Processing, Hemp Processing Equipment market has been segmented as follows:
Based on Extraction, Hemp Processing Equipment market has been segmented as follows:
- Cannabinoid Extraction
- Oil Extraction
Based on end-user, Hemp Processing Equipment market has been segmented as follows:
- Producer & Cultivator
- Other Commercial Use
- Building Materials
- Animal Care
- Food & Beverage
Based on geographic regions, Hemp Processing Equipment market is segmented as
- North America
- Latin America
- East Asia
- South Asia
- The Middle East and Africa
Hemp Processing Equipment Market: Key Players
Being high in demand market, there’s been a healthy competition between the key players in their region.
- Pure Hemp Technology
- Canadian Greenfields
- Apeks Supercritical
- Mile High Labs
- Aliment Trigone Inc. & Prairie Products LLC
Hemp Processing Equipment Market: Regional Outlook
Based on regional distribution, the report “Hemp Processing Equipment market” takes into account six prime regions including North America, Europe, Latin America, East Asia, South Asia and Oceania and
The Middle East & Africa. Based on production and demand it is expected that there will be significant increase in demand for Hemp Processing Equipment in North America, East Asia and Europe hemp processing equipment market.
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