Cannabis

Low Glycaemic Index Driving Consumption of Liquid Jaggery among Diabetic Population, States Fact.MR

Published

2 years ago

June 23, 2022

United States, Rockville MD, June 23, 2022 (GLOBE NEWSWIRE) — According to a new report published by Fact.MR, a market research and competitive intelligence provider, the global liquid jaggery market is estimated at US$ 544.8 million in 2022. The market is predicted to expand at an impressive CAGR of 8.3% during the forecast years 2022-2032.

Changing consumer behaviour and rising demand for health-beneficial food products without compromising on the taste are factors paving the path for liquid jaggery market growth. White sugar is now becoming optional for people who crave sweets, and the demand for healthy sugar alternatives such as liquid jaggery is rising. The shift to healthy alternatives is further boosted by the growing adoption of a sedentary lifestyle and increasing prevalence of diabetes among the population.

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Furthermore, liquid jaggery is gaining popularity among youngsters as it can be consumed as a rich nutrition source as well as can be used for skin smoothening and pimple reduction. In addition, liquid jaggery is seeing high demand among women due to its essential nutrients, which is an effective natural treatment for menstruation and specifically helps relieve cramps and relax the body.

What is the Main Factor Driving Liquid Jaggery Market Growth?

“Liquid Jaggery – The Perfect Substitute for White Sugar”

Several health benefits have led to the rising popularity of liquid jaggery among the youth and health-conscious people. Its high antioxidant property helps increase immunity and assists in preventing diseases. Additionally, liquid jaggery is the perfect option for those who want to eat healthy food without compromising on taste.
Liquid jaggery is a healthy natural source and can be used as a substitute for white sugar, which has some negative impacts on health. Jaggery also adds an exciting flavour to daily sweeteners.

Apart from this, a key driver behind the growth of the liquid jaggery market is the escalating diabetic population because of the concentration of the Glycemic Index, which affects blood sugar levels in diabetic patients. These factors are contributing to the rising consumption of liquid jaggery across the world.

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Key Segments Covered in the Liquid Jaggery Industry Survey

Liquid Jaggery Market by Source :
- Sugarcane Liquid Jaggery
- Date Palm Liquid Jaggery

Liquid Jaggery Market by Processing Type :
- Natural Liquid Jaggery
- Refined Liquid Jaggery
- Others
Liquid Jaggery Market by Sales Channel :
- Online Sales of Liquid Jaggery
  - Brand Websites
  - e-Commerce Websites
- Offline Sales of Liquid Jaggery
  - Hypermarkets/Supermarkets
  - Specialty Stores (Organic Stores)
  - Convenience Stores
  - D2C

Development of Market

Unawareness of the significant health benefits offered by liquid jaggery over any other sugar alternatives has restrained its market to limited regions. However, over the last few years, liquid jaggery has gained rapid traction. Several manufacturers are focusing on expanding their distribution channels in untapped regions, which will also drive market growth over the decade.

Competitive Landscape

Liquid jaggery manufacturers are highly fragmented in the South Asia region. However, there are very few manufacturers who have successfully expanded their business on an international scale.

Moreover, market players are more concerned about spreading awareness about liquid jaggery globally so that they can launch their liquid jaggery products successfully in international markets.

Aazol and Green Leaves International started the distribution of liquid jaggery on an international scale. However, they set a parameter that within 15 to 20 days the liquid jaggery should be delivered in an international market.

Such initiations will support the awareness and growth of the liquid jaggery market across the world.

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Key players in the Liquid Jaggery Market

Balaji Jaggery Farm
Vinayak Jaggery Manufacturers
Siddhagiri’s Satvyk
Dev Bhoomi Jaivik Krishi Utpad
Sandeshwar Agro Producer company
Phoennix Spices
Dr. Jaggery’s

Key Takeaways from Liquid Jaggery Market Study

The global liquid jaggery market is projected to expand at an impressive CAGR of 8.3% during the forecast years to be valued at US$ 1.2 billion by 2032.
The market witnessed 4.7% CAGR during the period 2017-2021.
Under source, sugarcane dominates the market with a valuation of US$ 469.4 million in 2022.
South Asia & ASEAN dominated the market with 60.8% market share in 2021.
Together, South Asia & ASEAN and Latin America are likely to represent 69.3% market share in 2022.
Demand for liquid jaggery is expected to increase at CAGRs of 10.4% and 10.0% in North America and Europe, respectively, over the forecast period.

Fact.MR’s Domain Knowledge in Food & Beverage Division

Expert analysis, actionable insights, and strategic recommendations of the highly seasoned food and beverage team at Fact.MR helps clients from across the globe with their unique business intelligence needs.

With a repertoire of over thousand reports and 1 million-plus data points, the team has analysed the food and beverage domain across 50+ countries for over a decade. The team provides unmatched end-to-end research and consulting services.

Explore Fact.MR’s Coverage on the Food & Beverage Domain-

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Cannabis

Cannabis Testing Market Worth $4.0 billion | MarketsandMarkets™

Published

3 days ago

May 23, 2024

CISION (PR Newswire)

CHICAGO, May 23, 2024 /PRNewswire/ — Cannabis Testing Market in terms of revenue was estimated to be worth $1.8 billion in 2024 and is poised to reach $4.0 billion by 2029, growing at a CAGR of 17.2% from 2024 to 2029 according to a new report by MarketsandMarkets™.

The important factors impacting market growth are legalization trends and rising medical applications for cannabis. Rising approvals for medical and recreational cannabis drive the regulations requiring product safety testing which in turn fuel the need for cannabis testing services. Additionally, the rise in the number of cannabis testing labs due to legalization is propelling the demand for analytical instruments is likely to uplift market growth in coming years.

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Browse in-depth TOC on “Cannabis Testing Market”
439 – Tables
52 – Figures
378 – Pages

Cannabis Testing Market Scope:

Report Coverage	Details
Market Revenue in 2024	$1.8 billion
Estimated Value by 2029	$4.0 billion
Growth Rate	Poised to grow at a CAGR of 17.2%
Market Size Available for	2022–2029
Forecast Period	2024–2029
Forecast Units	Value (USD Billion)
Report Coverage	Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered	By Product & Software, By Service & By End User
Geographies Covered	North America, Europe, the Asia Pacific, Latin America and the Middle East & Africa
Report Highlights	Updated financial information / product portfolio of players
Key Market Opportunities	Untapped markets in emerging economies
Key Market Drivers	Increasing legalization of medical and recreational cannabis

Products segment held the highest estimated share of the cannabis testing market.

Based on product & software, the cannabis testing market is segmented into products (analytical instruments {chromatography instruments [liquid chromatography, gas chromatography & other chromatography instruments], spectroscopy instruments [mass spectrometry instruments & atomic spectroscopy instruments] & other analytical instruments} and consumables {chromatography columns, standards and CRMS, sample preparation products and other consumables) and software. The product segment accounted for the largest share of the cannabis testing market in 2023. Market growth is driven by technological advancements providing sophisticated tools for precise analysis, ensuring compliance and quality control, and the expanding legalization of cannabis products. Additionally, increasing requirements for potency labeling and pesticide screening fuel the demand for specialized consumables, further propelling growth in the cannabis testing market. For example, Thermo Fisher Scientific Inc. launched the Thermo Scientific SureSTART consumables portfolio consisting of vials, well plates, caps, inserts, kits, and mats to improve analytical performance and sample security for chromatography and mass spectrometry users in routine and research labs in clinical, food, pharma, biopharma, environmental, and academic sectors.

High growth of services segment attributed to potency testing services.

Based on service, the cannabis testing market is broadly segmented into terpene profiling, microbial analysis, residual solvent analysis, potency testing, heavy metal testing, pesticide screening, and other services. In 2023, potency testing accounted for the largest share of the cannabis testing services market. The high growth of this segment is due to stringent regulatory requirements ensuring accurate THC and CBD levels. This is crucial for product labeling, consumer safety, and compliance, driving demand from producers and dispensaries seeking to meet legal standards and provide reliable, high-quality products.

Services take away the largest estimated share of the end-user segment.

Based on end users, the cannabis testing market is classified into segmented into product & software end users (cannabis testing laboratories {small-scale laboratories, medium-scale laboratories, large-scale laboratories} and research institutes) and service end users (cannabis drug manufacturers & dispensaries, cannabis cultivators/growers). In 2023, the service end users’ segment was predicted to account for the highest share of the global cannabis testing market. The large share of this end user segment is due to the rising consumer awareness of quality and safety, rising legalization of cannabis, stringent regulatory standards, and technological advancements in cannabis testing.

During the forecast period, North America displayed lucrative market growth.

North America accounted for the largest share of 65.5% of the cannabis testing market in 2023. The North American market is projected to reach a value of USD 2.6 billion by 2029 from an estimated value of USD 1.2 million in 2024, at a CAGR of 17.3% during the forecast period. The region leads the cannabis testing market due to stringent regulatory standards, robust infrastructure, and widespread legalization of cannabis for medical and recreational purposes. Additionally, North America’s advanced R&D capabilities and evolving consumer demand for quality assurance drive its prominence in this growing sector.

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Cannabis Testing Market Dynamics:

Drivers:

Increasing legalization of medical and recreational cannabis
Increasing use of cannabis for medicinal applications
Technological advancements in testing technologies

Restraints:

Lack of standardization
Investment risks due to regularization

Opportunities:

Untapped markets in emerging economies
Research collaborations

Challenge:

High setup costs

Key Market Players of Cannabis Testing Industry:

The global cannabis testing market comprises many key market players competing for markets shares like Agilent Technologies, Inc. (US), Shimadzu Corporation (Japan), Thermo Fisher Scientific Inc. (US), Danaher Corporation (US), Waters Corporation (US), Restek Corporation (US), SGS SA (Switzerland), Merck KGaA (Germany), PerkinElmer, Inc. (US), Hamilton Company (US), Sigma Analytical Services (Canada), SC Labs (US), PharmLabs LLC (US), MCS, Inc. (US), ProVerde Laboratories (US), and Eurofins Scientific (Luxembourg).

The primary interviews conducted for this report can be categorized as follows:

By Respondent: Supply Side- 70%, and Demand Side – 30%
By Designation (Supply Side): Managers – 45%, CXOs & Directors – 30%, Executives- 25%
By Region: North America -40%, Europe -25%, Asia-Pacific -20%, Latin America -10%, MEA- 5%

Recent Developments:

In September 2023, Shimadzu Corporation launched the Brevis GC-2050 gas chromatograph used in various applications including cannabis testing.
In April 2023, SC Labs, one of the leading cannabis testing companies, acquired C4 Laboratories, one of the first Arizona cannabis labs, thus allowing it to be licensed and accredited in five states: California, Colorado, Michigan, Oregon, and Arizona.
In June 2022, Shimadzu Corporation launched the AA-7800 series atomic absorption spectrophotometers. The AA-7800 series is used for quality control in the raw material, food, and for inspecting water quality and hazardous substances in soil thus presenting an advantage in heavy metal testing of cannabis.

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Cannabis Testing Market – Key Benefits of Buying the Report:

The report will help market leaders/new entrants by providing them with the closest approximations of the revenue numbers for the overall cannabis testing market and its subsegments. It will also help stakeholders better understand the competitive landscape and gain more insights to better position their business and make suitable go-to-market strategies. This report will enable stakeholders to understand the market’s pulse and provide them with information on the key market drivers, restraints, opportunities, and challenges.

The report provides insights on the following pointers:

Analysis of key drivers (increasing legalization of medical and recreational cannabis, increasing use of cannabis for medicinal applications and technological advancements in testing technologies), restraints (lack of standardization and investment risks due to regularization), opportunities (untapped markets in emerging economies and research collaborations) and challenges (high setup costs) are influencing the growth of cannabis testing market.
Product Development/Innovation: Detailed insights on newly launched products of the cannabis testing market.
Market Development: Comprehensive information about lucrative markets – the report analyses the cannabis testing market across varied regions.
Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the cannabis testing market.
Competitive Assessment: In-depth assessment of market shares, growth strategies, and product offerings of leading players include Agilent Technologies, Inc. (US), Shimadzu Corporation (Japan), Thermo Fisher Scientific Inc. (US), Danaher Corporation (US), Waters Corporation (US), Restek Corporation (US), SGS SA (Switzerland), Merck KGaA (Germany), PerkinElmer, Inc. (US), Hamilton Company (US), Sigma Analytical Services (Canada), SC Labs (US), PharmLabs LLC (US), MCS, Inc. (US), ProVerde Laboratories (US), and Eurofins Scientific (Luxembourg) among others in the cannabis testing market.

Related Reports:

Drug Screening Market – Global Forecasts to 2029

Laboratory Proficiency Testing Market – Global Forecasts to 2028

Life Science Instrumentation Market – Global Forecasts to 2028

Digital PCR Market – Global Forecasts to 2028

Flow Cytometry Market – Global Forecasts to 2028

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