By Mike Coyne, Federal Equipment Company
No one can deny that the cannabis industry is one to watch. With an estimated sales potential expected to increase from $17.1 billion in North America to $47.3 billion by 2024, the cannabis industry is poised to boom. The District of Columbia and 11 states have legalized recreational use of marijuana: Alaska, California, Colorado, Illinois, Maine, Massachusetts, Michigan, Nevada, Oregon, Vermont and Washington. 33 other states have legalized medical marijuana use. Canada has legalized marijuana use across the entire country. Cannabidiol, the non-intoxicating cannabinoid found in cannabis also referred to as “CBD”, is garnering significant research and development efforts for many different alternative health uses and products. Marijuana-based pharmaceuticals are starting to be approved by the FDA. As more states legalize use, more uses for marijuana and CBD are developed, and even FDA approvals increase, the competition for manufacturing resources may be fierce.
Anyone looking to compete in the marijuana and CBD manufacturing business will need to secure process and packaging equipment necessary to produce these products on a commercial scale and with the expected quality. Main categories for cannabis manufacturing equipment include:
- CBD and Hemp Evaporators
- CBD and Hemp Centrifuges
- Cannabis and Hemp Capsule Fillers
- Cannabis/Hemp Milling
- Cannabis and Hemp Extraction Equipment
Read how used process and packaging equipment for the marijuana and CBD industry can fill an immediate and growing need for manufacturing equipment.