Cannabis
Cannabis Testing Market Size is projected to reach USD 3.6 Billion by 2030, growing at a CAGR of 11.92%: Straits Research
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New York, United States, March 09, 2023 (GLOBE NEWSWIRE) — Cannabis testing refers to the process of analyzing and evaluating cannabis products to ensure their quality, safety, and compliance with regulatory standards. Cannabis testing includes a wide range of analytical techniques such as potency testing, residual solvent analysis, pesticide screening, terpene profiling, and microbial testing. The cannabis industry has seen a surge in demand for testing services due to the increasing legalization of cannabis for medical and recreational purposes across the globe. The accurate testing of cannabis is crucial in ensuring the safety of consumers and preventing harmful effects caused by contaminated or adulterated products.
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Market Dynamics
The global cannabis testing market is influenced by various factors, including the growing demand for cannabis for medical and recreational purposes, the increasing legalization of cannabis in various countries, and the need for quality control and safety regulations. The increasing prevalence of chronic diseases and the growing use of cannabis for pain management and other medical applications are driving the demand for cannabis testing. Moreover, the increasing awareness of the adverse effects of contaminated or adulterated cannabis products and the need for safety testing is expected to drive the growth of the cannabis testing market.
On the other hand, the high cost of testing equipment and the lack of standardization in testing procedures may hinder the market growth. Additionally, the shortage of skilled professionals in cannabis testing and the regulatory challenges associated with cannabis testing may pose challenges to market growth. Nevertheless, the growing trend of cannabis legalization and the increasing investments by key players in the development of advanced cannabis testing methods are expected to create lucrative opportunities for the market players in the coming years.
Segmental Analysis
The cannabis testing market can be segmented by test type and end-user. In terms of test type, it is further divided into heavy metal testing, microbial analysis, and potency testing. Heavy metal testing is performed to identify the presence of harmful metals like lead, arsenic, and mercury in cannabis products, which can be dangerous to human health. The microbial analysis is done to detect the presence of harmful bacteria, yeast, and mold that can cause infections and illnesses. Potency testing measures the concentration of cannabinoids in the product, including THC and CBD.
In terms of end-users, the market is segmented into cannabis cultivators and cannabis drug manufacturers. Cannabis cultivators use testing services to ensure the quality of their products and comply with regulations. They also use testing to optimize their growing methods and improve the overall quality of their crops. Cannabis drug manufacturers use testing to ensure that their products meet regulatory standards and are safe for consumption. They also use testing to develop new products and improve existing ones.
Report Scope
| Report Metric | Details |
| Market Size | USD 3.6 Billion by 2030 |
| CAGR | 11.92% (2022-2030) |
| Historical Data | 2019-2020 |
| Base Year | 2021 |
| Forecast Period | 2022–2030 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Test Type, By End-User |
| Geographies Covered | North America, Europe, Asia-Pacific, LAME, and the Rest of the World |
| Key Companies Profiled/Vendors | Agilent Technologies Inc., Danaher Corporation, MERCK KGAA, Perkin Elmer, Restek Corporation, SC Laboratories, Shimadzu Corporation, Steep Hill |
| Key Market Opportunities | The high Growth Potential of Cannabis Testing in Untapped Emerging Economies is a Major Opportunity for Professionals |
| Key Market Drivers | Growing Demand for Cannabis Legalization for Medical Purposes |
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Regional Analysis
The global cannabis testing market can be segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. North America dominates the cannabis testing market due to the increasing legalization of cannabis for both medical and recreational purposes in various states of the US and Canada. Additionally, the presence of major players and advanced testing facilities in the region further contribute to market growth. Europe is also expected to witness significant growth in the cannabis testing market due to the increasing acceptance of medical cannabis and the growing demand for quality assurance testing.
List of Top Cannabis Testing Market Manufacturers
- Agilent Technologies Inc.
- Danaher Corporation
- MERCK KGAA
- Perkin Elmer
- Restek Corporation
- SC Laboratories
- Shimadzu Corporation
- Steep Hill
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Cannabis Testing Market Segmentation
By Test Type
- Heavy Metal Testing
- Microbial Analysis, Potency Testing
By End-User
- Cannabis Cultivators
- Cannabis Drug Manufacturers
By Region
- North America
- Europe
- Asia-Pacific
- Latin America and Middle-East & Africa
TABLE OF CONTENT
- EXECUTIVE SUMMARY
- RESEARCH SCOPE & SEGMENTATION
- Research Objectives
- Market Definition
- Limitations & Assumptions
- Market Scope & Segmentation
- Currency & Pricing Considered
- MARKET OPPORTUNITY ASSESSMENT
- Emerging Regions / Countries
- Emerging Companies
- Emerging Applications / End Use
- Investment Landscape
- New Business Models / Revenue Streams
- TAM
- MARKET TRENDS
- Drivers
- Market Warning Factors
- Latest Macro Economic Indicators
- Geopolitical Impact
- Human Factors
- Technology Factors
- MARKET ASSESSMENT
- Porters Five Forces Analysis
- Value Chain Analysis
- Sales And Distribution Channel Analysis
- Trade Analysis
- Average Pricing Analysis
- Patent Analysis
- M & A Agreements & Collabration Analysis
- Cost Structure Analysis
- ESG TRENDS
- GLOBAL CANNABIS TESTING MARKET SIZE ANALYSIS
- Global Cannabis Testing Market Introduction
- By Test Type
- Introduction
- Test Type By Value
- Heavy Metal Testing
- By Value
- Microbial Analysis, Potency Testing
- By Value
- Introduction
- By End-User
- Introduction
- End-User By Value
- Cannabis Cultivators
- By Value
- Cannabis Drug Manufacturers
- By Value
- Introduction
- NORTH AMERICA MARKET ANALYSIS
- Introduction
- By Test Type
- Introduction
- Test Type By Value
- Heavy Metal Testing
- By Value
- Microbial Analysis, Potency Testing
- By Value
- Introduction
- By End-User
- Introduction
- End-User By Value
- Cannabis Cultivators
- By Value
- Cannabis Drug Manufacturers
- By Value
- Introduction
- U.S.
- By Test Type
- Introduction
- Test Type By Value
- Heavy Metal Testing
- By Value
- Microbial Analysis, Potency Testing
- By Value
- Introduction
- By End-User
- Introduction
- End-User By Value
- Cannabis Cultivators
- By Value
- Cannabis Drug Manufacturers
- By Value
- Introduction
- By Test Type
- Canada
- EUROPE MARKET ANALYSIS
- Introduction
- By Test Type
- Introduction
- Test Type By Value
- Heavy Metal Testing
- By Value
- Microbial Analysis, Potency Testing
- By Value
- Introduction
- By End-User
- Introduction
- End-User By Value
- Cannabis Cultivators
- By Value
- Cannabis Drug Manufacturers
- By Value
- Introduction
- U.K.
- By Test Type
- Introduction
- Test Type By Value
- Heavy Metal Testing
- By Value
- Microbial Analysis, Potency Testing
- By Value
- Introduction
- By End-User
- Introduction
- End-User By Value
- Cannabis Cultivators
- By Value
- Cannabis Drug Manufacturers
- By Value
- Introduction
- By Test Type
- Germany
- France
- Spain
- Italy
- Russia
- Nordic
- Benelux
- Rest Of Europe
- APAC MARKET ANALYSIS
- Introduction
- By Test Type
- Introduction
- Test Type By Value
- Heavy Metal Testing
- By Value
- Microbial Analysis, Potency Testing
- By Value
- Introduction
- By End-User
- Introduction
- End-User By Value
- Cannabis Cultivators
- By Value
- Cannabis Drug Manufacturers
- By Value
- Introduction
- China
- By Test Type
- Introduction
- Test Type By Value
- Heavy Metal Testing
- By Value
- Microbial Analysis, Potency Testing
- By Value
- Introduction
- By End-User
- Introduction
- End-User By Value
- Cannabis Cultivators
- By Value
- Cannabis Drug Manufacturers
- By Value
- Introduction
- By Test Type
- Korea
- Japan
- India
- Australia
- Taiwan
- South East Asia
- Rest Of Asia-Pacific
- MIDDLE EAST AND AFRICA MARKET ANALYSIS
- Introduction
- By Test Type
- Introduction
- Test Type By Value
- Heavy Metal Testing
- By Value
- Microbial Analysis, Potency Testing
- By Value
- Introduction
- By End-User
- Introduction
- End-User By Value
- Cannabis Cultivators
- By Value
- Cannabis Drug Manufacturers
- By Value
- Introduction
- UAE
- By Test Type
- Introduction
- Test Type By Value
- Heavy Metal Testing
- By Value
- Microbial Analysis, Potency Testing
- By Value
- Introduction
- By End-User
- Introduction
- End-User By Value
- Cannabis Cultivators
- By Value
- Cannabis Drug Manufacturers
- By Value
- Introduction
- By Test Type
- Turkey
- Saudi Arabia
- South Africa
- Egypt
- Nigeria
- Rest Of MEA
- LATAM MARKET ANALYSIS
- Introduction
- By Test Type
- Introduction
- Test Type By Value
- Heavy Metal Testing
- By Value
- Microbial Analysis, Potency Testing
- By Value
- Introduction
- By End-User
- Introduction
- End-User By Value
- Cannabis Cultivators
- By Value
- Cannabis Drug Manufacturers
- By Value
- Introduction
- Brazil
- By Test Type
- Introduction
- Test Type By Value
- Heavy Metal Testing
- By Value
- Microbial Analysis, Potency Testing
- By Value
- Introduction
- By End-User
- Introduction
- End-User By Value
- Cannabis Cultivators
- By Value
- Cannabis Drug Manufacturers
- By Value
- Introduction
- By Test Type
- Mexico
- Argentina
- Chile
- Colombia
- Rest Of LATAM
- COMPETITIVE ASSESSMENT
- Adoption Matrix
- Cannabis Testing Market Share By Manufacturers
- Cannabis Testing Market Ranking By Revenue For Manufacturers
- Average Price By Manufacturers
- Vendor Footprint Analysis
- MARKET PLAYERS ASSESSMENT
- Agilent Technologies Inc.
- Overview
- Business Information
- Revenue
- ASP
- Gross Margin
- Swot Analysis
- Recent Developmments
- Danaher Corporation
- MERCK KGAA
- Perkin Elmer
- Restek Corporation
- SC Laboratories
- Shimadzu Corporation
- Steep Hill
- Agilent Technologies Inc.
- RESEARCH METHODOLOGY
- Research Data
- Secondary Data
- Major Secondary Sources
- Key Data From Secondary Sources
- Primary Data
- Key Data From Primary Sources
- Breakdown Of Primaries
- Secondary And Primary Research
- Key Industry Insights
- Secondary Data
- Market Size Estimation
- Bottom-Up Approach
- Top-Down Approach
- Market Projection
- Research Assumptions
- Assumptions
- Limitations
- Risk Assessment
- Research Data
- APPENDIX
- Discussion Guide
- Customization Options
- Related Reports
- DISCLAIMER
Table of Content @ https://straitsresearch.com/report/cannabis-testing-market/toc
Market News
- In June 2022, Agilent Technologies Inc. signed MOU with Mahidol University for Science Industry Research and Development in Thailand.
- In May 2022, Danaher Corporation joined Bespoke Gene Therapy Consortium (BGTC) for rare disease research and prevention measures.
- In June 2022, MERCK KGAA and Agilent technologies signed a collaboration deal to fill up the industry gap in process analytical technology.
- In June 2022, Perkin Elmer launched two assays for the quantification of SARS –CoV-2 antibodies.
News Media
Cannabis Testing Market to Reach USD 2,727.59 Million by 2026 at a CAGR of 11.6%
Global CBD Market to Grow at a Healthy CAGR of 16.7%
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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.
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