Cannabis Testing market size reached USD 1.58 billion in 2022 and is expected to reach USD 3.66 billion by 2029, growing at a CAGR of 12.7 % during the forecast period.
Cannabis Testing Market Overview
The market overview of the Cannabis Testing industry focuses on the detailed dynamics of the market, including aspects such as industry rivalry. The report provides comprehensive market revenue forecasts at the global, regional, segment, and national levels.
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Cannabis Testing Market Report Scope and Research Methodology
The research methodology employed in the report on the Cannabis Testing Market incorporates both primary and secondary research methods. Primary research involves data collection directly from the market via surveys, interviews, and observations. In contrast, secondary research entails gathering data from published sources, such as industry reports, company websites, and news articles.
The analysis provided in the report serves as a guide for stakeholders, investors, market players, and followers, as well as new entrants, by providing them with an overall view of the Cannabis Testing market for formulating investment approaches and marketing tactics. The report utilizes a bottom-up approach to estimate the size of the Cannabis Testing market, which involves aggregating data from individual segments to arrive at a total market size estimate.
Cannabis Testing Market Regional Insights
The market is segmented by region into North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa. Additionally, the report identifies the top countries in each region and provides market forecasts for each one.
Cannabis Testing Market Segmentation
With a revenue share of 23.7% in 2022, potency testing services took the market’s top spot by service type. The market is primarily being driven by a rise in the demand for analysing the potency of different cannabinoids, particularly CBD (Cannabidiol) and Tetra hydro cannabinol (THC) in grown cannabis, as well as a rise in the use of effective potency testing methods like Gas Chromatography (GC) and High-Performance Liquid Chromatography (HPLC) for testing samples.
The Cannabis farmers and cultivators, who accounted for 64.2% of total sales in 2022, held the majority of the market’s income by end-user. Growers are entering into agreements with testing labs and academic organisations as a result of regulatory restrictions on the amount of THC that may be discovered in cannabis products in several countries. Additionally, these growers are required to provide manufacturers and wholesalers with a variety of plant kinds at varied prices based on the levels of CBD and THC in each variety. These are the primary factors fostering the segment’s expansion.
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Cannabis Testing Market Key Players
• Saskatchewan Research Council (SRC)
• SC Labs
• Steep Hill, Inc.
• SGS Canada Inc.
• CW ANALYTICAL
• PharmLabs
• GreenLeaf Lab
• Agilent Technologies Inc.
• Shimadzu Scientific Instruments
• Merck KGaA
• Restek Corporation
• PerkinElmer Inc.,
• Danaher Corporation
• Accelerated Technology Laboratories Inc.
• Steep Hill Halent Laboratories Inc.
• Digipath Inc.
• Pharmlabs LLC.
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Key questions answered in the Cannabis Testing Market are:
- What is Cannabis Testing ?
- What are the factors driving the Cannabis Testing Market growth?
- What are the factors are limiting the Cannabis Testing Market growth?
- What was the Cannabis Testing market size in 2021?
- Which trends are expected to generate additional revenue for the Cannabis Testing market growth?
- What are the recent industry trends that can be implemented to generate additional revenue streams for the Cannabis Testing Market?
- What growth strategies are the players considering to increase their foothold in the Cannabis Testing Market?
- Who held the largest market share in the Cannabis Testing Market?
Key Offerings:
- Past Market Size and Competitive Landscape (2018 to 2021)
- Past Pricing and price curve by region (2018 to 2021)
- Market Size, Share, Size & Forecast by different segment | 2022−2029
- Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by region
- Market Segmentation – A detailed analysis by segment with their sub-segments and Region
- Competitive Landscape – Profiles of selected key players by region from a strategic perspective
- Competitive landscape – Market Leaders, Market Followers, Regional player
- Competitive benchmarking of key players by region
- PESTLE Analysis
- PORTER’s analysis
- Value chain and supply chain analysis
- Legal Aspects of business by region
- Lucrative business opportunities with SWOT analysis
- Recommendations
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Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
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