The Global Cannabis Testing Market size was valued at USD 1.2 billion in 2019 and is anticipated to grow at a CAGR of 14.1% during the forecast period. Cannabis is a drug that is psychoactive and is primarily for medicinal and recreational use.
Global Cannabis Testing Market: Overview
Tetrahydrocannabinol (THC) is an element in cannabis which causes the feeling of euphoria, perception change, and appetite increase. Increasing the use of cannabis for medical purposes has led to the legalization of cannabis in numerous countries across the world. Moreover, increasing focus to fulfill the growing needs of hemp and cannabis cultivators can further lead to an increase in a number of cannabis testing laboratory setup, so resulting in cannabis testing business growth in the future.
The cannabis testing market has been segmented on the basis of type, product & software, cannabis type and end user. On the basis of type, the market has been further segregated into terpene profiling, heavy metal, microbial analysis, genetic, residual solvent screening, potency and pesticide screening. The growing demand for the potency of the cannabis by the end user to evaluate its strength is boosting the growth in the potency segment. The end users mainly test the cannabis plants specifically for cannabinoids which helps them to evaluate the strength of cannabis and also the effect of cannabis on medical users.
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Increasing use of cannabis for medical purposes have led to legalization of cannabis in various countries across the globe. For instance, currently, more than 30 countries across the globe have legalized the use of cannabis for medical treatment. Legalization of cannabis for medical purposes will provide new growth avenues for testing laboratories, thus leading to huge development of cannabis testing industry across the forecast timeframe. Moreover, increasing focus to meet the growing needs of hemp and cannabis cultivators will further lead to increase in number of cannabis testing laboratory setup, thus leading to cannabis testing business growth in the future.
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.
Key Factors Impacting the Growth of Cannabis testing Market:
- Recognition of cannabis for medical and therapeutic use by the medical fraternity.
- The rise in the number of testing facilities.
- The increasing legalization of the use of cannabis for medicine and research.
- Rising awareness about cannabis benefits aided by strong community support.
Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT Analysis:
Agilent Technologies, Inc., Waters Corporation, Shimadzu Corporation, PerkinElmer, Inc., Millipore Sigma, AB SCIEX LLC, Restek Corporation, Steep Hill Labs, Inc.,SC Laboratories, Inc., PharmLabs, Digipath Labs, Inc., and CannaSafe Analytics.
Key Developments in Cannabis Testing Market:
- In November 2016, Waters Corporation introduced two novel chemistries— CORTECS T3 and CORTECS Shield RP18. These new CORTECS column chemistries allow scientists to obtain more information per analysis and reduce the cost of analyzing complex samples such as biomarkers, natural products, counterfeit cosmetics, synthetic cannabinoids, veterinary drugs, drinking water, and vitamins.
- In August 2016, Agilent Technologies, Inc. acquired iLab Solution LLC, (U.S.), a prominent player in providing cloud-based laboratory management software. This acquisition helped Agilent to strengthen its software and informatics product portfolio.
Global Cannabis Testing Market: Regional Outlook
Asia Pacific was the fastest growing geographic market and it is expected to be the fastest revenue generator during the forecast period. Asia Pacific market was driven by the factors such as large population countries such as China and India, increasing number of accidents with cannabis intoxication, adoption of trends from western regions in terms of legalization of medical and recreational use of cannabis.
Market Segmentation:
By Product
- Analytical Instruments
- Consumables
- Software
By Mode of Services
- Potency Testing
- Terpene Profiling
- Pesticide Screening
By End User
- Laboratories
- Research Institute
- Drug Manufacturer
- Cultivators
By Region:
North America
Asia Pacific
Western Europe
Eastern Europe
Middle East
Rest of the World
Reasons to Buy This Report:
- Market size estimation of the cannabis testing market on a regional and global basis
- Unique research Usage for market size estimation and forecast
- Profiling of major companies operating in the market with key developments
- Broad scope to cover all the possible segments helping every stakeholder in the market
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The Spirulina Market is expected to grow at a CAGR of 10.3% from 2020-2030, according to a new research report by Next Move Strategy ConsultingSpirulina is a blue green algae with high nutrient content, usually consumed by human & animals.
It is also used as a complementary diet ingredient in aquaculture & poultry feeds owing to the presence of high protein & vitamin content.According to the report, growth in health consciousness among people and the rising demand for dietary supplements are major factors driving the spirulina market growth.
Additionally, high penetration of spirulina in industries such as cosmetics and pharmaceutical owing to the advantageous properties such as anti-aging, anti-wrinkles and othersare bringing changes in market tends.However, low stability & poor sustainability of spirulina derived colours is expected to restrict the market growth.Moreover, growth in research & development activities followed by untapped market opportunities in developing economies are anticipated to provide numerous opportunities to the market players in the coming few years.On the basis of type, spirulina market share is segmented into Arthrospira Platensis and Arthrospira Maxima.
Arthrospira Maxima dominates the global Spirulina market and will be the dominant throughout the forecasted period.On the basis of application, the Spirulina market is categorised into Nutraceuticals, Food & Beverages, Cosmetics, Animal Feed, and Others.Food & Beverages segment is likely to develop significantly over the period of time owing to fast growing food & beverage industry.On the basis of drug formulation, the spirulina market is bifurcated into Powder, Tablet & Capsule, Liquid, and Granule & Gelling Agent.
Powder segment is expected to account for the major market share & dominate the market growth over the forecast period.North America dominates the spirulina market in terms of market size over the forecast period, owing to rising health consciousness among people.
Hansen Holding A/S, Algenol Biofuels Inc., Dongtai City Spirulina Bio-engineering Co., Ltd., Prolgae, Parry Neutraceuticals, Sensient Technologies Corporation, DDW Inc., Algatec and Naturex S.A.Browse key industry insights from the report, “Spirulina Market Size By Type (ArthrospiraPlatensis and Arthrospira Maxima) By Application (Nutraceuticals, Food & Beverages, Cosmetics, Animal Feed, and Others), By Drug Formulation (Powder, Tablet & Capsule, Liquid, and Granule & Gelling Agent)Regional Outlook (U.S., Canada, Germany, UK, France, Spain, Italy, Russia, China, India, Japan, Australia, Indonesia, Malaysia, South Korea, Brazil, Mexico, South Africa, Saudi Arabia, UAE, Kuwait), Growth Potential, Price Trends, Competitive Market Share & Forecast, 2020–2030” in detail along with the table of contents:Key Insights from the Spirulina Market Report:Asia Pacific is the fastest growing region in Spirulina market owing to the rising demand of spirulina from various industries such as cosmetics, food , healthcare and others and government initiatives to promote local spirulina production.The Food & Beverages segment dominates the market in terms of application and is expected to grow at a significant CAGR to maintain the lead till 2030.Some of the major players in the market are DIC Corporation, Cyanotech Corporation, Chr.
According to the new market research report "Cannabis Testing Market by Product & Software (LC, GC, Spectroscopy (MS, Atomic), Column, Standards, Accessories, LIMS), Service (Potency, Pesticides, Heavy Metal, Genetic Testing), End User (Lab, Pharmaceutical, Research) - Global Forecast to 2021", published by MarketsandMarkets™, the overall cannabis testing market expected to reach USD 1,416.3 million by 2021 from USD 822.0 million in 2016, at a CAGR of 11.5% of during the forecast period (2016-2021).
Don’t miss out on business opportunities in Cannabis Testing Market SizeOwing to various social and political factors, cannabis has been banned in most countries since the early 1900s.
At present, many countries are increasingly recognizing the benefits of cannabis for medicinal purposes and are hence approving its use.Legalization fo medical cannabis coupled with the growing number of cannabis testing laboratoriesMedical cannabis is proven to be effective in various medical applications, such as reducing nausea caused due to chemotherapy, stimulating appetite in AIDS patients, controlling muscular spasms in multiple sclerosis patients, and reducing intraocular pressure in patients with glaucoma.
Owing to these potential health benefits, governments in various countries are legalizing the use of medical cannabis.
Countries including Australia (2016), Canada (2015), North Korea, Spain, Portugal (2001), the U.K. (2006), Germany (awaiting approval by the end of 2017), Italy, the Netherlands, Israel, and Brazil have legalized the use of medical cannabis in recent years.
Moreover, in the U.S., 25 states have legalized medical cannabis; four states Colorado, Washington, Oregon, and Alaska—have legalized cannabis for both medical and recreational use.Browse and in-depth TOC on " Cannabis Testing Market " 160 - Tables49 - Figures203 - PagesTo know about the assumptions considered for the study, download the pdf brochureThe following are the major objectives of the study : Cannabis Testing MarketTo define, describe, and forecast the global cannabis testing market on the basis of product and software, service, end user, and regionTo provide detailed information regarding the major factors influencing the growth of the market (drivers, restraints, opportunities, and industry-specific challenges)To strategically analyze micromarkets1 with respect to individual growth trends, future prospects, and contributions to the overall marketTo analyze the opportunities in the market for stakeholders and provide details of the competitive landscape for market leadersTo forecast the market size of market segments with respect to four main regions (along with the countries), namely, North America, Europe, Asia-Pacific, and LATAM & MEATo speak to our analyst for a discussion on the above findings, click Speak to Analyst
