The World Market For Terpene Distillation Kits, Forecast To 2034: Revenues Expected To Cross $58.4 Billion, At A CAGR Of 10.14%

Dublin, Jan. 07, 2025 (GLOBE NEWSWIRE) -- The "Terpene Distillation Kit market by Type, Application, End-user, and Region" report has been added to ResearchAndMarkets.com's offering. This extensive research report concentrates on the size and projections of the global and regional markets from 2023 to 2034.
The global terpene distillation kit market accounted for USD 20.20 billion in 2023 and is expected to reach at USD 58.44 billion by 2034 with a CAGR of 10.14% during the forecast period 2024-2034. The market will grow due to factors such as growing consumer demand for natural products, the expansion of the cannabis and hemp industries, growing awareness of aromatherapy, many applications in various industries, and emerging markets and opportunities.

By type, the steam distillation segment accounted for the highest revenue-grossing segment in the global terpene distillation kit market in 2023 owing to the method's efficiency, cost-effectiveness, and widespread use in extracting high-purity terpenes. For instance, in October 2023, Isolate Extraction Systems, Inc. (IES) purchased Apeks Supercritical. Through this transaction, the qualities of both businesses are combined, improving their technological prowess, product offering, and market presence in CO2 extraction systems. It's Additionally, the microwave distillation segment is predicted to grow at the fastest CAGR during the forecast period owing to the rapid extraction process, energy efficiency, and ability to preserve the integrity of heat-sensitive terpenes.
By application, the medical cannabis segment accounted for the highest revenue-grossing segment in the global terpene distillation kit market in 2023 owing to the increasing legalization, rising demand for high-quality medicinal products, and the therapeutic benefits of cannabis-derived terpenes. For instance, in 2023 Lab Society developed a new kind of terpene distillation kit especially for separating uncommon terpenes in collaboration with a top academic institute. Additionally, the food and beverage industry segment is predicted to grow at the fastest CAGR during the forecast period owing to the rising consumer demand for natural flavors and ingredients, and the increasing use of terpenes for their aromatic and health-enhancing properties.
By end-user, the laboratory segment accounted for the highest revenue-grossing segment in the global terpene distillation kit market in 2023 owing to the high demand for precise and high-purity terpene extraction for research and development purposes. For instance, in 2022, Pope Scientific expanded their terpene distillation kit line to include benchtop units for smaller facilities. Additionally, the research center segment is predicted to grow at the fastest CAGR during the forecast period owing to the increasing focus on discovering new applications and benefits of terpenes, and the rising investment in scientific studies and innovation.
North American region is anticipated to have the highest revenue share during the forecast period owing to the widespread legalization of cannabis, advanced extraction technologies, and high consumer demand for natural and organic products. Additionally, the Asia Pacific region is predicted to grow at the fastest CAGR during the forecast period owing to the increasing adoption of natural products, expanding pharmaceutical and cosmetics industries, and rising investments in research and development. For instance, in 2023, ExtractionTek Solutions received a large investment to increase manufacturing capacity and satisfy the increased demand for specialized terpene distillation systems.
Report Scope

• Base Year: 2023
• Forecast Period: 2024-2034

Study Coverage

• Market Forecast by Type, Application, and End-User
• Market Forecast for 5 Regions and 17+ Countries
  • North America (U.S. and Canada)
  • Europe (Germany, France, UK, Spain, Italy, Russia, Rest of Europe)
  • Asia Pacific (China, Japan, India, Australia, South Korea, Rest of APAC)
  • Latin America (Brazil, Mexico, Argentina, Rest of LATAM)
  • MEA (South Africa, GCC, Rest of MEA)
• Exhaustive Company Profiles of the Top 10+ Market Players
  • Apeks Supercritical
  • Across International
  • Precision Extraction Solutions
  • Lab Society
  • Pope Scientific Inc.
  • ExtractionTek Solutions
  • Delta Separations
  • Root Sciences
  • Eden Labs
  • Rocky Mountain PLC
  • BR Instrument
  • Cannabis Technology
  • TruSteel
  • Cedarstone Industry
  • Heidolph Instrument
• 20% Free Customization Available to Meet Your Exact Requirements

Terpene Distillation Kit Market Analysis & Forecast by Type 2023 - 2034 (Revenue USD Bn)

• Microwave Distillation
• Steam Distillation

Terpene Distillation Kit Market Analysis & Forecast by Application 2023 - 2034 (Revenue USD Bn)

• Medical Cannabis
• Recreational Cannabis
• Food and Beverage Industry
• Perfume Industry

Terpene Distillation Kit Market Analysis & Forecast by End-User 2023 - 2034 (Revenue USD Bn)

• Hospital
• Research Center
• Laboratory

Key Attributes

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Attachment

• Global Terpene Distillation Kit Market

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