Cannabis Testing Market booming Worldwide Opportunity, Upcoming Trends & Growth Forecast 2024-2030

Cannabis Testing Market Overview

The Cannabis Testing Market Research Report provides an extensive examination of strategies, micro and macro market trends, pricing analysis, short-term market conditions, and a comprehensive assessment of primary competitors. The report delves into forthcoming trends projected to shape the evolution of the Cannabis Testing market.

Market Growth Projection

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.

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Cannabis Testing Market Report Scope and Research Methodology

The document presents a comprehensive analysis of the worldwide Cannabis Testing market, encompassing insights into its growth trajectories, competitive landscape assessment, and developmental status across different regions. The Cannabis Testing market report encompasses a range of key players, including import and export consumption, supply and demand dynamics, cost structures, pricing trends, revenue streams, and gross margins. The research methodology involves a thorough exploration of multiple factors influencing the Cannabis Testing sector, encompassing governmental policies, competitive outlook, historical data, prevailing market trends, technological advancements, emerging innovations, and progress within related industries. The utilization of SWOT analysis is leveraged to delineate the strengths and weaknesses of pivotal players in the Cannabis Testing sector.

Cannabis Testing Market Regional Insights

The Cannabis Testing market study includes company profiles from various regions, as well as information on their business strategies and statistics. The analysis of dynamics and the Cannabis Testing market size has been provided at local, regional and global levels.

• North America (United States, Canada and Mexico)
• Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
• Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
• Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
• South America (Brazil, Argentina Rest of South America) 

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Cannabis Testing Market Segmentation

by Service Type

• Potency Testing
• Terpene Profiling
• Heavy Metal Testing
• Pesticide Screening
• Microscopy Testing
• Residual Solvent Screening

With a revenue share of 23.7% in 2022, potency testing services topped the market in terms of service type. The primary drivers of the market are the growing need to analyze the potency of different cannabinoids, specifically Tetra hydro cannabinol (THC) and CBD (cannabidiol) in cannabis grown, and the growing use of potency testing techniques such as High-Performance Liquid Chromatography (HPLC) and Gas Chromatography (GC) for testing samples.

by End-user

• Cannabis Drug Manufacturers
• Cannabis Cultivators/Growers
• Others (Research Institutes & Labs)

With 64.2% of all sales coming from end users, cannabis farmers and cultivators controlled the lion's share of market revenue in 2022. Due to government regulations in many countries governing the maximum THC content of cannabis products, growers are entering into agreements with testing labs and research institutions. Furthermore, based on the CBD and THC concentrations of their plants, these growers must provide manufacturers and distributors with a range of plant varieties at different prices. These are the primary factors driving the growth of the segment.

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 Key Competitors

• 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 Outdoor Apparelare:

• What is Cannabis Testing?
• What are the global and regional trends in the Cannabis Testing Market?
• Which Cannabis Testing market segment is expected to grow at a high rate during the forecast period?
• Which factors are expected to drive the Cannabis Testing market during the forecast period?
• What are the major challenges that the Cannabis Testing Market could face in the future? 
• How is the intervention from regulatory authority is shaping the Cannabis Testing Market?
• What growth strategies are the players considering to increase their presence in Automotive Relay Market?
• Which region held the largest Cannabis Testing market share? 

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 | 2024−2030
• Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by region
• Market Segmentation – A detailed analysis by Application, Technology, Type, End-User and Region 
• Competitive Landscape – Profiles of selected key players by region in 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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