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 report delivered by Maximize Market Research helps clients to understand the competitive landscape in detail, which is a guide for strategic planning. The total global market for the Cannabis Testing Market was valued at USD in 2022 and is expected to grow at a CAGR of percent over the forecast period to reach USD by 2029.
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Cannabis Testing Market Report Scope and Research Methodology
The Cannabis Testing Market report includes current trends and market highlights, assisting clients in exploring lucrative opportunities in the market. During the forecast period, the report covers market size with estimations and growth rates. To understand Cannabis Testing market penetration, competitive structure, pricing, and demand analysis, regional market analysis is carried out at the local, regional, and global levels.
Data is collected using primary and secondary collection methods with qualitative and quantitative approaches. Primary data include surveys, questionnaires and telephonic interviews with market experts, market leaders and business owners. Secondary data was taken from press releases, annual reports, financial reports, government organizations’ sites and white papers. The bottom-up approach was used for Cannabis Testing market estimation. For a competitive landscape of the Cannabis Testing Market, Key players are collected based on various parameters that involve the products and services offered, revenue generated, technological advancements adopted and mergers and acquisitions. Research tools such as SWOT, PESTLE and Porter’s Five forces were used for the Cannabis Testing Market analysis for the Micro and macro factors affecting the Cannabis Testing Market presented.
Cannabis Testing Market Regional Insights
The Cannabis Testing market is broadly segmented into North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa. The report includes a thorough analysis of all the factors, market size, growth rate, and import and export in regions.
Cannabis Testing Market Segmentation
by Service Type
• Potency Testing
• Terpene Profiling
• Heavy Metal Testing
• Pesticide Screening
• Microscopy Testing
• Residual Solvent Screening
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
• Cannabis Drug Manufacturers
• Cannabis Cultivators/Growers
• Others (Research Institutes & Labs)
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.
by Technology
• Chromatography
o Liquid Chromatography
o Gas Chromatography
o Other
• Spectroscopy
o Mass Spectrometry
o Atomic Spectrometry
• Others
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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.
Key questions answered in the Cannabis Testing Market are:
- What is Cannabis Testing?
- What was the Cannabis Testing market size in 2023?
- What is the growth rate of the Cannabis Testing Market?
- Which are the factors expected to drive the Cannabis Testing market growth?
- What are the different segments of the Cannabis Testing Market?
- What growth strategies are the players considering to increase their presence in Cannabis Testing?
- What are the upcoming industry applications and trends for the Cannabis Testing Market?
- What are the recent industry trends that can be implemented to generate additional revenue streams for the Cannabis Testing Market?
- What is the demand pattern of the Cannabis Testing Market?
- What major challenges could the Cannabis Testing Market face in the future?
- What segments are covered in the Cannabis Testing Market?
- Who are the leading companies and what are their portfolios in Cannabis Testing Market?
- What segments are covered in the Cannabis Testing Market?
- Who are the key players in the Cannabis Testing market?
Key Offerings:
- Past Market Size and Competitive Landscape (2018 to 2023)
- Past Pricing and price curve by region (2018 to 2023)
- Market Size, Share, Size & Forecast by different segment | 2023−2029
- 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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