Global Cannabis Testing Market 2022 – 2030

Report Snapshot

CAGR: 10.5%

1.5B

2021

1.6B

2022

3.0B

2030

Source: CMI

Study Period:	2022-2030
Fastest Growing Market:	Asia-Pacific
Largest Market:	Europe

Major Players

• Saskatchewan Research Council (SRC)
• SC Labs
• Steep Hill, Inc.
• Others

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Reports Description

With a compound annual growth rate (CAGR) of around 10.5 percent between 2022 and 2030, the size of the global cannabis testing market is expected to increase from its estimated value of USD 1.5 billion in 2021 to USD 3.0 billion by 2030. The report examines the forces that are driving and restraining the cannabis testing industry as well as how they will affect demand throughout the forecast period. The paper also looks at international potential in the cannabis testing sector.

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Cannabis Testing Market: Overview

Cannabis testing has many uses, including figuring out the amount of cannabis present in various analytical samples, such as drug samples, and finding contaminants like bacteria and fungi. Additionally, it is done to find trace elements like cadmium and arsenic that, if not regulated, might have harmful impacts on health. Numerous analytical methods, including chromatographic analysis, spectrometry, ELISA, and polymerase chain reaction, are used to carry out these tests (PCR).

Cannabis Testing Market: COVID – 19 Impact Analysis

The newest novel coronavirus, COVID-19, is the infectious disease that it causes. Before the outbreak in Wuhan (China) in December 2019, COVID-19 was largely unknown. Since then, it has transformed from a local issue to a worldwide pandemic. In addition, due to laboratory closures, a decline in the number of cannabis tests conducted, and some restrictions on the import and export of cannabis test products, several market players that provide goods to the cannabis testing industry have seen a decline in sales of tools and consumables. These elements have slowed market expansion by causing a fall in the sales of consumables and equipment used in the cannabis testing sector.

Cannabis Testing Market: Growth Drivers

Medical cannabis has been proven to be useful in a number of medical uses, including easing chemotherapy-induced nausea, increasing appetite in AIDS patients, reducing muscular spasms in MS patients, and lowering intraocular pressure in glaucoma patients. Governments in various nations are allowing the use of medical cannabis because of its advantages for health.

The demand for cannabis analytics to assure its safety before human ingestion has grown recently as medical cannabis is allowed in several nations and states across the world. Industry analysts predict that over the next years, the number of cannabis testing labs will increase significantly, largely as a result of the increased legality and uptake of cannabis testing.

Cannabis Testing Market: Segmentation Analysis

Potency testing services took the industry by storm in 2021 when it came to service types. The main factors driving the market are the expanding use of effective potency testing methods, such as gas chromatography (GC) and high-performance liquid chromatography (HPLC), to test samples, as well as the rising interest in researching the potency of different cannabinoids, particularly CBD (cannabidiol) and tetrahydrocannabinol (THC) in grown cannabis.

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Cannabis cultivators dominated the market in 2021 based on end consumers. Due to government regulations on the THC level of cannabis products in many nations, breeders enter into partnerships with testing labs and research facilities. Additionally, according to the CBD and THC content of their plants, these producers must sell various strains of plants to manufacturers and distributors at various costs. These are the main elements promoting the segment’s expansion.

Report Scope

Key Findings:

• According to our research analyst’s analysis, the cannabis testing market is anticipated to expand annually at a CAGR of about 10.5% throughout the forecast period (2022-2030).
• The cannabis testing market size was estimated to be worth approximately USD 1.5 billion (2021). The market is expected to grow significantly over the coming years as a result of a number of driving factors.
• According to end-use segmentation, the cultivator industry is anticipated to have the most market share in 2021.
• Geographically speaking, the “North America” region generated the most income in 2021.

Recent Development

August 2021 – With the acquisition of pH Solutions, LLC in August 2021, PSI Labs, the top cannabis testing lab in Michigan and a safety compliance facility with ISO 17025 accreditation that provides basic cannabis testing services, expanded to Southern California. One of the first laboratories established in the State of California is pH Solutions, LLC.

Regional Landscape

In 2021, North America had the majority of the market share and is anticipated to expand significantly throughout the projected period. The existence of a significant number of farmers in the area and an increase in testing labs as a result of the government’s rigorous regulations for marijuana growers are the main drivers of the market’s expansion in this area.

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Competitive Landscape

With their company profiles, current developments, and important market strategies, the study covers an in-depth competitive analysis of these major market participants for cannabis testing.

By Product and Software Analysis 

➢ Analytical Instruments

➢ Consumables

➢ Software

By Testing Procedures Analysis 

➢ Residual Solvent Screening

➢ Terpene Profiling

➢ Potency Testing

➢ Genetic Testing

➢ Pesticide Screening

➢ Heavy Metal Testing

➢ Microbial Analysis

By End-User Analysis 

➢ Laboratories

➢ Cannabis Cultivators

➢ Research Institutes

➢ Drug Manufacturers

➢ Dispensaries

On the basis of Geography

North America

• The U.S.
• Canada
• Mexico

Europe

• France
• The UK
• Spain
• Germany
• Italy
• Rest of Europe

Asia Pacific

• China
• Japan
• India
• Australia
• South Korea
• Rest of Asia Pacific

The Middle East & Africa

• Saudi Arabia
• UAE
• Egypt
• Kuwait
• South Africa
• Rest of the Middle East & Africa

Latin America

• Brazil
• Argentina
• Rest of Latin America