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Global Cannabis Testing Market Future Growth, Industry Share and Forecast 2029

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Global Cannabis Testing Market Future Growth, Industry Share and Forecast 2029

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 research on the Cannabis Testing Market is based on the detailed dynamics the Cannabis Testing market. The report covers market revenue forecasts at global, regional and segment, and national levels. Industry potential is deeply studied. Industry rivalry during the forecast period is studied and the individual market share are all included in Cannabis Testing Market research.

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Cannabis Testing Market Report Scope and Research Methodology

The report is a comprehensive analysis of the complementary and Cannabis Testing market by region, segment and competitive landscape. The report covers the current trends prevailing in the market & changing consumer preferences, opportunities in the market, innovations & market regulations.  The analysis acts as a guide for stakeholders, investors, market players and followers and new entrants with an overall view of the Cannabis Testing formulating investment approaches and marketing tactics.

Secondary data was collected from official databases of various organisations and government sites, industry journals, white papers, annual reports, releases of product manufacturers and suppliers in the Cannabis Testing industry along with paid and free databases. To estimate the segment wise, regional and global Cannabis Testing Market size, bottom-up approach was used.

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Cannabis Testing Market Segmentation

By Type, the Potency testing services led the market in terms of service type in 2022 with a revenue share of 23.7 %. The market is primarily being driven by an increase in the demand for analyzing the potency of various cannabinoids, particularly CBD (Cannabidiol) and Tetra hydro cannabinol (THC) in grown cannabis, as well as an increase in the use of efficient potency testing techniques like Gas Chromatography (GC) and High-Performance Liquid Chromatography (HPLC) for testing samples.

By End-user, the Cannabis farmers and cultivators held the majority of the market's revenue in 2022, accounting for 64.2% of all sales. Because of official regulations on the amount of THC that can be found in cannabis products in many nations, growers are establishing contracts with testing labs and research institutions. Additionally, these producers must offer several plant varieties at various costs to manufacturers and wholesalers according to their CBD and THC concentrations. These are the main elements promoting the segment's growth.

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.

Cannabis Testing Market Regional Insights

The Regional Analysis in the report helps to understand the Cannabis Testing market in various countries. The report includes a detailed analysis of the market potential & country wise market share. North America, Europe, Asia Pacific, Latin America, Middle East, and Africa.

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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

About Maximize Market Research:

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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Pune, Maharashtra 411041, India

[email protected]

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