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Cannabidiol (CBD) Market will Rise at a Potential Growth Rate of 27.8% by 2029, Market is analyzed by Growth Insights, Upcoming Trends, Size, Share, Opportunity and Demand Analysis

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The comprehensive industry research on “Global Cannabidiol (CBD) Market” published by Data Bridge Market research which includes growth analysis, regional marketing, challenges, opportunities, and drivers analyzed in the report. To have best level of market insights and knowhow of the most excellent market opportunities into the specific markets, Cannabidiol (CBD) market research report is an ideal key. This Cannabidiol (CBD) market report encompasses a market data that provides a detailed analysis of the Cannabidiol (CBD) industry and its impact based on applications and different geographical regions. Additionally, this market report also gives a detailed overview about product specification, technology, and product type and production analysis by taking into consideration other major factors such as revenue, cost, and gross margin. The Cannabidiol (CBD) report is presented with full commitment by assuring the best possible service depending upon business requirements.

The global cannabidiol (CBD) market is expected to gain market growth in the forecast period of 2022 to 2029. Data Bridge Market Research analyses that the market is growing with a CAGR of 27.8% in the forecast period of 2022 to 2029. Technological advancements in cannabidiol (CBD) drug treatments and the rise in the healthcare sector are other factors driving the growth of the global cannabidiol (CBD) market in the forecast period.

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Cannabidiol (CBD) Market Analysis and Insights

Cannabidiol (CBD) is a chemical compound that is found in the cannabis sativa plant, and is extracted from hemp or cannabis, generally from hemp due to its naturally high cannabidiol (CBD) content. It has several benefits in treating anxiety and seizures and reducing pain. Due to its healing properties, the demand for CBD for health and wellness purposes is high, which is the major factor driving the market

The data and information about the cannabidiol (CBD) market are taken from reliable sources such as websites, annual reports of the companies, and journals, and then validated by the market experts. It covers major manufacturers, suppliers, distributors, traders, customers, investors, and major types, and major applications. The principal players of the cannabidiol (CBD) market are making moves like product launches, joint ventures, developments, mergers, and acquisitions which is affecting the market and this Industry as a whole and also affecting the sales, import, export, revenue, and CAGR values. The dependable cannabidiol (CBD) market analysis report brings into light key market dynamics of the sector.

However, side effects associated with CBD oil and counterfeit and synthetic products available in the market will restrain the market growth. Adoption of strategic alliances like partnerships and acquisitions by key market players act as an opportunity for the growth of the global cannabidiol (CBD) market.

Global CBD Market Dynamics:

Drivers

  • Increasing demand for CBD in health & fitness

Rising awareness among consumers regarding health and fitness will help the CBD market to witness rapid growth. Increasing consumer disposable income along with the legalization of medicinal cannabis is anticipated to have a positive impact on the demand for cannabidiol in this sector.

Moreover, CBD products are used to relieve various problems such as anxiety/ stress, sleep/insomnia, chronic pain, migraine, skin care, seizures, joint pain & inflammation, neurological conditions, and many others. Chronic pain treatment has gained much popularity due to the additional benefits offered by CBD when used. There have been increasing demand for cannabidiol (CBD) products over recent years owing to its widespread medical applications and pain relief treatment. CBD helps in reducing chronic pain by acting on a variety of biological processes in the body. In addition, CBD possesses antioxidant, anti-inflammatory, and analgesic properties. Therefore, CBD products reduce the anxiety that is experienced by people suffering from chronic pain. Thus, the increasing demand for CBD in the treatment of chronic pain is augmenting the market to growth. This also helps people to maintain their health and fitness routines while staying away from the pain that may occur during fitness activities.

Key players in the global CBD market are:

  • CV Sciences, Inc.
  • VIVO Cannabis Inc.
  • Gaia Herbs Hemp
  • Phoena Holdings Inc.
  • Medical Marijuana, Inc.
  • The Cronos Group
  • CHARLOTTE’S WEB
  • HEXO Corp.
  • Aurora Cannabis
  • Canopy Growth Corporation
  • Jazz Pharmaceuticals, Inc.
  • Tilray
  • Curaleaf
  • KAZMIRA
  • Freedom Leaf, Inc.
  • Koi CBD
  • Groff North America Hemplex
  • Joy Organics
  • Elixinol Wellness Limited
  • Isodiol International Inc.
  • Healthy Food Ingredients, LLC
  • NuLeaf Naturals, LLC
  • Diamond CBD
  • Medterra CBD
  • ENDOCA
  • Green Roads

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Challenge

  • Side effects associated with CBD oil

Cannabidiol is well-known for its ability to cure a variety of illnesses, including anxiety, seizures, neurological problems, cancer-related nausea, chronic pain, and more. However, being useful for a variety of medical illnesses, various studies and research conducted by numerous organizations have shown that CBD-based medicines can have negative effects as well.

Some of the side effects that are commonly experienced by consumers include dry mouth, drowsiness, low blood pressure, and lightheadedness. CBD is also known to raise the level of Coumadin (a blood thinner) in the body, which can interact with other drugs and cause negative side effectsThese factors might impede the future adoption of CBD for therapeutic purposes.

Market Segmentation Analysis:

The global cannabidiol (CBD) market is segmented on the basic source, grade, application, product type, and nature. The growth among segments helps you analyze niche pockets of growth and strategies to approach the market and determine your core application areas and the Difference in your target markets.

BY SOURCE

  • HEMP
  • MARIJUANA

 BY PRODUCT TYPE

  • CBD OIL
  • CBD ISOLATES
  • CBD CONCENTRATES
  • OTHERS

BY NATURE

  • ORGANIC
  • INORGANIC

BY GRADE

  • FOOD GRADE
  • THERAPEUTIC GRADE

BY APPLICATION

  • Tincture
  •  Food
  •  Beverages
  • Pharmaceutical
  • Topicals
  • Dietary supplements
  • Others

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Country Level Analysis

The cannabidiol (CBD) market is analyzed and market size information is provided by source, grade, application, product type, nature.

The countries covered in the cannabidiol (CBD) market report are U.S., CanadaMexicoGermany, U.K., ItalyNetherlandsSwitzerlandFranceRussiaSpainTurkeyBelgium, Rest of EuropeChinaJapanIndiaSouth KoreaThailandMalaysiaAustraliaNew Zealand and rest of Asia-Pacific, U.A.E, IsraelSouth Africa and rest of the Middle East and AfricaBrazilArgentina and the rest of South America.

In 2022, North America is dominating due to the presence of key market players along the largest consumer market with high GDP. U.S is expected to grow due to rise in technological advancement in drug treatments.

Trends:

The market is projected to grow at a fast pace during the forecast period, due to various latest trends such as rising online sales of cannabidiol (CBD), use of blockchain technology, rising demand for natural products, expanding research areas, rising demand for ingestible products, etc. Due to the convenience and heavy discounts provided by the online platforms people are shifting towards e-commerce. Online platforms also widen the reach of the manufacturers and enable them to sell CBD products even to those customers who were not aware of the CBD-based products.

What to Expect from the Report, a 7-Pointer Guide

  • The cannabidiol (CBD) report dives into the holistic Strategy and Innovation for this market ecosystem
  • The cannabidiol (CBD) report keenly isolates and upholds notable prominent market drivers and barriers
  • The cannabidiol (CBD) report sets clarity in identifying technological standardization as well as the regulatory
  • framework, besides significantly assessing various implementation models besides evaluation of numerous use cases
  • The cannabidiol (CBD) report is also a rich repository of crucial information across the industry, highlighting details on novel investments as well as stakeholders and relevant contributors and market participants.
  • A through market analytical survey and forecast references through the forecast tenure, encapsulating details on historical developments, concurrent events as well as future growth probability

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TABLE OF CONTENTS

Part 01: Executive Summary

Part 02: Scope Of The Report

Part 03: Research Methodology

Part 04: Market Landscape

Part 05: Pipeline Analysis

Part 06: Market Sizing

Part 07: Five Forces Analysis

Part 08: Market Segmentation

Part 09: Customer Landscape

Part 10: Regional Landscape

Part 11: Decision Framework

Part 12: Drivers And Challenges

Part 13: Market Trends

Part 14: Vendor Landscape

Part 15: Vendor Analysis

Part 16: Appendix

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Region-wise Related Reports:-

Europe Cannabidiol (CBD) Market – Industry Trends and Forecast to 2029:  Europe cannabidiol (CBD) market is expected to gain market growth in the forecast period of 2022 to 2029. Data Bridge Market Research analyses that the market is growing with a CAGR of 26.7% in the forecast period of 2022 to 2029. Technological advancements in cannabidiol (CBD) drug treatments and the rise in the healthcare sector are other factors driving the growth of the Europe cannabidiol (CBD) market in the forecast period.

Middle East and Africa Cannabidiol (CBD) Market – Industry Trends and Forecast to 2029: The Middle East & Africa cannabidiol (CBD) market is expected to gain market growth in the forecast period of 2022 to 2029. Data Bridge Market Research analyses that the market is growing with a CAGR of 22.7% in the forecast period of 2022 to 2029. Technological advancements in cannabidiol (CBD) drug treatments and a rise in the healthcare sector are other factors driving the growth of the Middle East & Africa cannabidiol (CBD) market in the forecast period.

North America Cannabidiol (CBD) Market – Industry Trends and Forecast to 2029: North America cannabidiol (CBD) market is expected to gain market growth in the forecast period of 2022 to 2029. Data Bridge Market Research analyses that the market is growing with a CAGR of 28.7% in the forecast period of 2022 to 2029. Technological advancements in cannabidiol (CBD) drug treatments and the rise in the healthcare sector are other factors driving the growth of the North America cannabidiol (CBD) market in the forecast period.

Asia-Pacific Cannabidiol (CBD) Market – Industry Trends and Forecast to 2029: Asia-Pacific cannabidiol (CBD) market is expected to gain market growth in the forecast period of 2022 to 2029. Data Bridge Market Research analyses that the market is growing with a CAGR of 24.1% in the forecast period of 2022 to 2029. Technological advancements in cannabidiol (CBD) drug treatments and the rise in the healthcare sector are other factors driving the growth of the Asia-Pacific cannabidiol (CBD) market in the forecast period.

Hemp-Derived Cannabidiol Market – Industry Trends and Forecast to 2028: Hemp-derived cannabidiol market is expected to gain market growth in the forecast period of 2021-2028. Data Bridge Market Research analyses the market to account to grow at a CAGR of 27.20% in the above-mentioned forecast period.

Cannabis

Cannabis Testing Market Worth $4.0 billion | MarketsandMarkets™

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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:

  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.

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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

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.

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MarketsandMarkets™ INC.
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