Connect with us

Cannabis

CBD based Beverages Market Size is projected to grow at CAGR of 25.6%: Straits Research

Published

on

<!– Name:DistributionId Value:8783251 –> <!– Name:EnableQuoteCarouselOnPnr Value:False –> <!– Name:IcbCode Value:5557 –> <!– Name:CustomerId Value:1220679 –> <!– Name:HasMediaSnippet Value:false –> <!– Name:AnalyticsTrackingId Value:c8704088-d08e-4531-adbf-ec96aa44cafe –>

New York, United States, March 07, 2023 (GLOBE NEWSWIRE) — CBD (Cannabidiol) beverages are derived from a non-psychoactive molecule found in cannabis, extracted from marijuana and hemp plants. This non-psychoactive molecule can be infused with non-alcoholic beer, water, coffee, and tea. CBD has the potential to reduce pain and anxiety and to cure cognition and movement disorders. Other fantastic healing properties of CBD beverages include proper digestion, flushing toxins, boosting the immune system, maintaining blood pressure, and reducing the chances of heart disease. These properties of CBD are attracting the attention of many people who were skeptical about using the product, which, in turn, is creating several untapped opportunities for the CBD beverages market in North America. Cannabidiol-based beverages are available in different product types, plant-based, and several other varieties.

Get a Free Sample Copy of This Report @ https://straitsresearch.com/report/cbd-based-beverages-market/request-sample

The Awareness of Numerous Health Benefits is driving the Market For CBD Beverages.

The demand for CBD beverages is driven by the growing awareness of the substance’s many health advantages, including its ability to improve digestion, manage obesity, and boost immunity. Although research and clinical trials to support the benefits are still in the early stages, they are very encouraging. They are stoking consumer interest, particularly in areas where hemp is grown significantly. The CBD beverage market is expanding due to the increased attention paid to health and wellness.

The market for CBD beverages is growing due to the increasing availability of these drinks and trends like the mainstreaming of products for athletes. They are used for replenishment and hydration. Sports performance beverages are thus establishing themselves as a promising market just waiting to be exploited, especially by newcomers.

Many skincare products for treating wrinkles and acne contain cannabidiol oil. For instance, Sephora recently added a skincare line containing cannabidiol, CBD, to its inventory. Similarly, Ulta Beauty plans to introduce a line of cannabidiol-based products. The market for cosmetics infused with cannabidiol is also seeing the entry of several new businesses. Hence this provides a more significant opportunity for the growth of the market.

Report Scope

Report Metric Details
Market Size USD 4.52 billion in 2022
CAGR 25.6% (2023-2031)
Historical Data 2020-2021
Base Year 2022
Forecast Period 2023-2031
Forecast Units Value (USD Billion)
Report Coverage Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered By Type, By Product Type, By Application
Geographies Covered North America, Europe, Asia-Pacific, LAME and Rest of the World
Key Companies Profiled/Vendors Alkaline88 LLC., Rocky Mountain High Brands, Phivida, Cannara Biotech Inc, Kickback, Youngevity International INC., Recess, Sprig.
Key Market Drivers The Awareness of Numerous Health Benefits is driving the Market For CBD Beverages.

Buy Now Full Report @ https://straitsresearch.com/buy-now/cbd-based-beverages-market

Regional Insights

Many countries in North America have taken note of the benefits of cannabidiol, one of which is the U.S. For the recreational use of cannabis, the country has legalized it in 11 of its states, namely Alaska, California, Colorado, Illinois, Maine, Massachusetts, Michigan, Nevada, Oregon, Vermont, and Washington. The legalization of cannabis is soaring in the demand and consumption of CBD-infused alcoholic and non-alcoholic beverages across North America. On 17 October 2018, cannabis was legalized in Canada for recreational purposes by the House of Commons by passing Bill C-45, the Cannabis Act. After amendments and just after the legalization, various vital players started offering CBD-infused beverages. In Canada, The demand for CBD beverages is escalating rapidly among the health-conscious population. In 2017, around 140,000 acres of cannabis were cultivated in Canada to address the growing demand for CBD beverages, according to the Congressional Research Service. Government funding, support for new cannabis research, and public awareness programs drive market growth. For instance, the Government of Canada and the Minister of Health invested USD 24.5 million for funding in R&D to regulate the non-medical use of cannabis. If five ballot measures pass in the 2022 Midterm Elections, recreational marijuana use will be permitted in nearly half of the states in the United States. Nearly half of the U.S. could legalize marijuana.

Due to extensive online product advertising, CBD products are becoming more and more well-liked among consumers. Because the U.S. and Canada are among the technologically most developed nations, consumers are well-informed about the benefits of CBD products and the regulatory environment surrounding them. The use of CBD products has also increased dramatically in the nation in recent years due to the rising prevalence of diseases, and a similar trend is anticipated to drive the regional market.

Key Highlights

  • The global CBD based Beverages Market size was valued at USD 4.52 billion in 2022 and is growing with a CAGR of 25.6% during the forecast period (2023–2031).
  • Based on type, the North American CBD beverages market is bifurcated into marijuana-derived and hemp-derived cannabis.
  • By product type, The CBD beverages market is segmented into beer, water, juice, tea, coffee, and others.
  • CBD-infused beer is a booming market in the U.S., and it is expected to become an international product in the coming years.
  • Based on age group, the CBD market is segmented into millennials, Gen-Z, and baby boomers. North America houses the largest millennial population. In 2022, around 76 million people were covered under the millennial age group in the region, which is about 21% of the region’s population.
  • Depending on the country, the market is analyzed in the US, Canada, Mexico, and the rest of North America, where the U.S. dominates.

Some key market players in the CBD beverage market are

  • Alkaline88, LLC
  • Rocky Mountain High Brands
  • Phivida
  • Cannara Biotech Inc
  • Kickback
  • Youngevity International, Inc.
  • Recess
  • Sprig

Get a Free Sample Copy of This Report @ https://straitsresearch.com/report/cbd-based-beverages-market/request-sample

CBD-based Beverages Market Segmentation

By Type

  • Marijuana-derived
  • Hemp-derived cannabis

By Product Type

  • Beer
  • Water
  • Juice
  • Tea
  • Coffee
  • Others

By Application

  • Millennials
  • gen-z
  • Baby boomers.

By Regional covered

  • North America
  • Europe
  • Asia Pacific
  • The Middle East & Africa

 

Table of Content

  1. EXECUTIVE SUMMARY
  2. RESEARCH SCOPE & SEGMENTATION
    1. Research Objectives
    2. Market Definition
    3. Limitations & Assumptions
    4. Market Scope & Segmentation
    5. Currency & Pricing Considered
  3. MARKET OPPORTUNITY ASSESSMENT
    1. Emerging Regions / Countries
    2. Emerging Companies
    3. Emerging Applications / End Use
    4. Investment Landscape
    5. New Business Models / Revenue Streams
    6. TAM
  4. MARKET TRENDS
    1. Drivers
    2. Market Warning Factors
    3. Latest Macro Economic Indicators
    4. Geopolitical Impact
    5. Human Factors
    6. Technology Factors
  5. MARKET ASSESSMENT
    1. Porters Five Forces Analysis
    2. Value Chain Analysis
    3. Raw Material Analysis
    4. Sales And Distribution Channel Analysis
    5. Trade Analysis
    6. M & A Agreements & Collabration Analysis
    7. Export Import Analysis
    8. Cost Structure Analysis
  6. ESG TRENDS
  7. GLOBAL CBD BASED BEVERAGES MARKET SIZE ANALYSIS
    1. Global CBD Based Beverages Market Introduction
    2. By Type
      1. Introduction
        1. Type By Value
      2. Marijuana-Derived
        1. By Value
      3. Hemp-Derived Cannabis
        1. By Value
    3. By Product Type
      1. Introduction
        1. Product Type By Value
      2. Beer
        1. By Value
      3. Water
        1. By Value
      4. Juice
        1. By Value
      5. Tea
        1. By Value
      6. Coffee
        1. By Value
      7. Others
        1. By Value
    4. By Application
      1. Introduction
        1. Application By Value
      2. Millennials
        1. By Value
      3. Gen-Z
        1. By Value
      4. Baby Boomers.
        1. By Value
  8. NORTH AMERICA MARKET ANALYSIS
    1. Introduction
    2. By Type
      1. Introduction
        1. Type By Value
      2. Marijuana-Derived
        1. By Value
      3. Hemp-Derived Cannabis
        1. By Value
    3. By Product Type
      1. Introduction
        1. Product Type By Value
      2. Beer
        1. By Value
      3. Water
        1. By Value
      4. Juice
        1. By Value
      5. Tea
        1. By Value
      6. Coffee
        1. By Value
      7. Others
        1. By Value
    4. By Application
      1. Introduction
        1. Application By Value
      2. Millennials
        1. By Value
      3. Gen-Z
        1. By Value
      4. Baby Boomers.
        1. By Value
    5. U.S.
      1. By Type
        1. Introduction
          1. Type By Value
        2. Marijuana-Derived
          1. By Value
        3. Hemp-Derived Cannabis
          1. By Value
      2. By Product Type
        1. Introduction
          1. Product Type By Value
        2. Beer
          1. By Value
        3. Water
          1. By Value
        4. Juice
          1. By Value
        5. Tea
          1. By Value
        6. Coffee
          1. By Value
        7. Others
          1. By Value
      3. By Application
        1. Introduction
          1. Application By Value
        2. Millennials
          1. By Value
        3. Gen-Z
          1. By Value
        4. Baby Boomers.
          1. By Value
    6. Canada
  9. EUROPE MARKET ANALYSIS
    1. Introduction
    2. By Type
      1. Introduction
        1. Type By Value
      2. Marijuana-Derived
        1. By Value
      3. Hemp-Derived Cannabis
        1. By Value
    3. By Product Type
      1. Introduction
        1. Product Type By Value
      2. Beer
        1. By Value
      3. Water
        1. By Value
      4. Juice
        1. By Value
      5. Tea
        1. By Value
      6. Coffee
        1. By Value
      7. Others
        1. By Value
    4. By Application
      1. Introduction
        1. Application By Value
      2. Millennials
        1. By Value
      3. Gen-Z
        1. By Value
      4. Baby Boomers.
        1. By Value
    5. U.K.
      1. By Type
        1. Introduction
          1. Type By Value
        2. Marijuana-Derived
          1. By Value
        3. Hemp-Derived Cannabis
          1. By Value
      2. By Product Type
        1. Introduction
          1. Product Type By Value
        2. Beer
          1. By Value
        3. Water
          1. By Value
        4. Juice
          1. By Value
        5. Tea
          1. By Value
        6. Coffee
          1. By Value
        7. Others
          1. By Value
      3. By Application
        1. Introduction
          1. Application By Value
        2. Millennials
          1. By Value
        3. Gen-Z
          1. By Value
        4. Baby Boomers.
          1. By Value
    6. Germany
    7. France
    8. Spain
    9. Italy
    10. Russia
    11. Nordic
    12. Benelux
    13. Rest Of Europe
  10. APAC MARKET ANALYSIS
    1. Introduction
    2. By Type
      1. Introduction
        1. Type By Value
      2. Marijuana-Derived
        1. By Value
      3. Hemp-Derived Cannabis
        1. By Value
    3. By Product Type
      1. Introduction
        1. Product Type By Value
      2. Beer
        1. By Value
      3. Water
        1. By Value
      4. Juice
        1. By Value
      5. Tea
        1. By Value
      6. Coffee
        1. By Value
      7. Others
        1. By Value
    4. By Application
      1. Introduction
        1. Application By Value
      2. Millennials
        1. By Value
      3. Gen-Z
        1. By Value
      4. Baby Boomers.
        1. By Value
    5. China
      1. By Type
        1. Introduction
          1. Type By Value
        2. Marijuana-Derived
          1. By Value
        3. Hemp-Derived Cannabis
          1. By Value
      2. By Product Type
        1. Introduction
          1. Product Type By Value
        2. Beer
          1. By Value
        3. Water
          1. By Value
        4. Juice
          1. By Value
        5. Tea
          1. By Value
        6. Coffee
          1. By Value
        7. Others
          1. By Value
      3. By Application
        1. Introduction
          1. Application By Value
        2. Millennials
          1. By Value
        3. Gen-Z
          1. By Value
        4. Baby Boomers.
          1. By Value
    6. Korea
    7. Japan
    8. India
    9. Australia
    10. Taiwan
    11. South East Asia
    12. Rest Of Asia-Pacific
  11. MIDDLE EAST AND AFRICA MARKET ANALYSIS
    1. Introduction
    2. By Type
      1. Introduction
        1. Type By Value
      2. Marijuana-Derived
        1. By Value
      3. Hemp-Derived Cannabis
        1. By Value
    3. By Product Type
      1. Introduction
        1. Product Type By Value
      2. Beer
        1. By Value
      3. Water
        1. By Value
      4. Juice
        1. By Value
      5. Tea
        1. By Value
      6. Coffee
        1. By Value
      7. Others
        1. By Value
    4. By Application
      1. Introduction
        1. Application By Value
      2. Millennials
        1. By Value
      3. Gen-Z
        1. By Value
      4. Baby Boomers.
        1. By Value
    5. UAE
      1. By Type
        1. Introduction
          1. Type By Value
        2. Marijuana-Derived
          1. By Value
        3. Hemp-Derived Cannabis
          1. By Value
      2. By Product Type
        1. Introduction
          1. Product Type By Value
        2. Beer
          1. By Value
        3. Water
          1. By Value
        4. Juice
          1. By Value
        5. Tea
          1. By Value
        6. Coffee
          1. By Value
        7. Others
          1. By Value
      3. By Application
        1. Introduction
          1. Application By Value
        2. Millennials
          1. By Value
        3. Gen-Z
          1. By Value
        4. Baby Boomers.
          1. By Value
    6. Turkey
    7. Saudi Arabia
    8. South Africa
    9. Egypt
    10. Nigeria
    11. Rest Of MEA
  12. LATAM MARKET ANALYSIS
    1. Introduction
    2. By Type
      1. Introduction
        1. Type By Value
      2. Marijuana-Derived
        1. By Value
      3. Hemp-Derived Cannabis
        1. By Value
    3. By Product Type
      1. Introduction
        1. Product Type By Value
      2. Beer
        1. By Value
      3. Water
        1. By Value
      4. Juice
        1. By Value
      5. Tea
        1. By Value
      6. Coffee
        1. By Value
      7. Others
        1. By Value
    4. By Application
      1. Introduction
        1. Application By Value
      2. Millennials
        1. By Value
      3. Gen-Z
        1. By Value
      4. Baby Boomers.
        1. By Value
    5. Brazil
      1. By Type
        1. Introduction
          1. Type By Value
        2. Marijuana-Derived
          1. By Value
        3. Hemp-Derived Cannabis
          1. By Value
      2. By Product Type
        1. Introduction
          1. Product Type By Value
        2. Beer
          1. By Value
        3. Water
          1. By Value
        4. Juice
          1. By Value
        5. Tea
          1. By Value
        6. Coffee
          1. By Value
        7. Others
          1. By Value
      3. By Application
        1. Introduction
          1. Application By Value
        2. Millennials
          1. By Value
        3. Gen-Z
          1. By Value
        4. Baby Boomers.
          1. By Value
    6. Mexico
    7. Argentina
    8. Chile
    9. Colombia
    10. Rest Of LATAM
  13. COMPETITIVE ASSESSMENT
    1. Adoption Matrix
    2. CBD Based Beverages Market Share By Manufacturers
    3. CBD Based Beverages Market Ranking By Revenue For Manufacturers
    4. Average Price By Manufacturers
    5. Vendor Footprint Analysis
  14. MARKET PLAYERS ASSESSMENT
    1. Alkaline88 LLC.
      1. Overview
      2. Business Information
      3. Revenue
      4. ASP
      5. Gross Margin
      6. Swot Analysis
      7. Recent Developmments
    2. Rocky Mountain High Brands
    3. Phivida
    4. Cannara Biotech Inc
    5. Kickback
    6. Youngevity International INC.
    7. Recess
    8. Sprig.
  15. RESEARCH METHODOLOGY
    1. Research Data
      1. Secondary Data
        1. Major Secondary Sources
        2. Key Data From Secondary Sources
      2. Primary Data
        1. Key Data From Primary Sources
        2. Breakdown Of Primaries
      3. Secondary And Primary Research
        1. Key Industry Insights
    2. Market Size Estimation
      1. Bottom-Up Approach
      2. Top-Down Approach
      3. Market Projection
    3. Research Assumptions
      1. Assumptions
    4. Limitations
    5. Risk Assessment
  16. APPENDIX
    1. Discussion Guide
    2. Customization Options
    3. Related Reports
  17. DISCLAIMER

Table of Content @ https://straitsresearch.com/report/cbd-based-beverages-market/toc

Market News

  • The Alkaline Water Company Inc. (NASDAQ and CSE: WTER) (the “Company”), the largest independent alkaline water company in the nation and the maker of Clean Beverage®, provided an update on the development of Alkaline88on-premise ®’s sales in the health and fitness channel in December 2022. Three SKUs from the brand are offered in Gold’s Gyms in Texas, Oklahoma, and the Carolinas, which make up about a quarter of the renowned gym’s locations in the country.
  • Alkaline88® Launches Sports Drink in More Than 250 Harris Teeter Stores in November 2022
  • The establishment of Rocky Mountain NexBev, Inc., a wholly-owned subsidiary specializing in cannabis beverages, was announced by Rocky Mountain High Brands, Inc. (OTC: RMHB) in July 2022. NexBev will make efforts to guarantee CBD Life Mexico S.A. de C.V. By utilizing a solid network of cannabis co-packers across the United States, (CBD Life) has produced and developed RMHB’s HEMPd brand.

News Media

Global CBD Market to Grow at a Healthy CAGR of 16.7%

Have a Look at the Related Research Report?

CBD Skin Care Products Market: Information by Product Type (Oils, Lotions, and Creams), Distribution Channel (E-commerce, Hypermarkets, Retail Pharmacies), and Region — Forecast till 2031

Hemp-Derived CBD Oil Market: Analysis by Source (Organic, Inorganic),Application (Pharmaceutical, Food and Beverages, Others), Distribution Channel, and Region — Forecast till 2030

CBD Skin Care Market: Information by Source (Hemp, Marijuana), Type (Oils, Creams & Moisturizers), and Region — Forecast till 2030

CBD Pet Market: Information by Product (Therapeutic Grade, Food Grade), Application (Joint Pain), End-User (Veterinary Hospital Pharmacies), and Region — Forecast till 2029

Protein Ingredients Market: Information by Source (Animal, Plant), Form (Solid, Liquid), Application (Food and Beverages, Animal Feed), and Region — Forecast till 2031

About Straits Research Pvt. Ltd.

Straits Research is a market intelligence company providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision-makers. Straits Research Pvt. Ltd. provides actionable market research data, especially designed and presented for decision-making and ROI.

Whether you are looking at business sectors in the next town or crosswise over continents, we understand the significance of being acquainted with the client’s purchase. We overcome our clients’ issues by recognizing and deciphering the target group and generating leads with utmost precision. We seek to collaborate with our clients to deliver a broad spectrum of results through a blend of market and business research approaches.

For more information on your target market, please contact us below:

Phone: +1 646 480 7505 (the U.S.)

+91 8087085354 (APAC)

+44 208 068 9665 (the U.K.)

Email: [email protected]

Follow Us: LinkedIn | Facebook | Instagram | Twitter

Cannabis

Cannabis Testing Market Worth $4.0 billion | MarketsandMarkets™

Published

on

cannabis-testing-market-worth-$4.0-billion-|-marketsandmarkets™

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.

Download an Illustrative overview: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=46932450

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.

Request Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=46932450

Cannabis Testing Market Dynamics:

Drivers:

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

Restraints:

  1. Lack of standardization
  2. Investment risks due to regularization

Opportunities:

  1. Untapped markets in emerging economies
  2. Research collaborations

Challenge:

  1. 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.

Get 10% Free Customization on this Report:
https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=46932450

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

Get access to the latest updates on Cannabis Testing Companies and Cannabis Testing Industry Growth

About MarketsandMarkets™:

MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

Earlier this year, we made a formal transformation into one of America’s best management consulting firms as per a survey conducted by Forbes.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: [email protected]
Visit Our Website: https://www.marketsandmarkets.com/

Logo: https://mma.prnewswire.com/media/1951202/4609423/MarketsandMarkets.jpg

 

Cision View original content:https://www.prnewswire.co.uk/news-releases/cannabis-testing-market-worth-4-0-billion–marketsandmarkets-302154066.html

Continue Reading

Cannabis

Solei Brand Introduces New Cannabis-Infused ‘Warming Deep Tissue Stick’

Published

on

Continue Reading

Cannabis

Medical Cannabis Market Report 2024-2030: Asia-Pacific Set to Witness Robust Growth, Driven by R&D Discovery Initiatives

Published

on

Continue Reading

Trending on Grassnews

GrassNews.net: Your premier portal for the latest developments in the cannabis industry. We provide timely news, insightful analysis, and in-depth features on everything from legislation changes and business trends, to scientific research and lifestyle topics. Stay informed and navigate the rapidly evolving cannabis landscape with GrassNews.net..

Contact us: [email protected]

Editorial / PR Submissions

Copyright © 2007 - 2024 Hipther Agency. Registered in Romania under Proshirt SRL, Company number: 2134306, EU VAT ID: RO21343605. Office address: Blvd. 1 Decembrie 1918 nr.5, Targu Mures, Romania