Global Cannabis Testing Services Market Size & Outlook
Global cannabis testing services market, 2018-2030 (US$M)
Related Markets
Cannabis testing services market insights
- The cannabis testing services market worldwide generated a revenue of USD 1,638.5 million in 2023.
- The market is expected to grow at a CAGR (2023 - 2030) of 15.1% to attain a revenue of USD 4,372.0 million by 2030.
- In terms of segment, potency testing accounted for a revenue of USD 373.3 million in 2023.
- In 2023, the North America accounted for the largest revenue share of cannabis testing services market.
Market Dynamics
CBD is primarily extracted from hemp and marijuana found in the Cannabis sativa plant. These sources were considered to provide CBD with high THC content, which can be hazardous to the human body. Thus, most countries have regulated the cultivation and distribution of CBD owing to its harmful effects.
In the past couple of years, CBD has been legalized in several countries across the globe for industrial applications such as pharmaceuticals, personal care & cosmetics, and food & beverages, as it was found to be safe for human consumption when consumed in the prescribed quantity.
Legalizing cannabis-based products has opened up significant opportunities for various end-use industries to expand their product offerings. For instance, in April 2023, CV SCIENCES, INC. launched its +PlusCBD reserve collection of extra gummies. The reserve collection product line offers blend of full-spectrum cannabinoids capable of providing relief when intense support is required.
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Cannabis Testing Services Market Scope
Cannabis Testing Services Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Global cannabis testing services market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to cannabis testing services market will help companies and investors design strategic landscapes.
- Global Cannabis Testing Services Service Type Outlook (Revenue, USD Million, 2018-2030)
- Potency Testing
- Terpene Profiling
- Heavy Metal Testing
- Pesticide Screening
- Microscopy Testing
- Residual Solvent Screening
- Others
- Global Cannabis Testing Services End Use Outlook (Revenue, USD Million, 2018-2030)
- Cannabis Cultivators/Growers
- Cannabis Drug Manufacturers
- Others (Research Institutes & Labs)
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Target buyers of Global cannabis testing services market databook
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Our clientele includes a mix of cannabis testing services market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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Horizon Databook provides a detailed overview of global-level data and insights on the Global cannabis testing services market, including forecasts for subscribers. This global databook contains high-level insights into Global cannabis testing services market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Global cannabis testing services market size, by regions, 2018-2030 (US$M)
Top 10 countries: Cannabis testing services market size, 2023 (US$M)
Global cannabis testing services market share, by service type, 2023 & 2030 (%, US$M)
Cannabis testing services market: Opportunity assessment by country
Global cannabis testing services market, by region, 2023 (US$M)
| Service Type | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | 2028 | 2029 | 2030 | CAGR |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| North America | 727.6 | 792.4 | 862.2 | 931.2 | 1,009.2 | 1,094.3 | 1,185.4 | 1,293.2 | 1,400.0 | 1,521.2 | 1,645.7 | 1,774.3 | 1,903.8 | 8.2% |
| Europe | 80.4 | 95.4 | 113.3 | 133.7 | 158.6 | 188.5 | 224.5 | 269.9 | 323.3 | 390.3 | 471.7 | 571.8 | 695.3 | 20.5% |
| Asia Pacific | 82.2 | 109.9 | 143.9 | 184.4 | 235.0 | 297.3 | 374.0 | 472.4 | 591.2 | 742.7 | 930.4 | 1,165.4 | 1,460.4 | 25.5% |
| Latin America | 13.0 | 18.7 | 25.8 | 34.4 | 45.1 | 58.4 | 74.9 | 96.1 | 121.9 | 154.9 | 196.0 | 247.6 | 312.6 | 27.1% |
| Overall | 903.2 | 1,016.5 | 1,145.2 | 1,283.7 | 1,447.8 | 1,638.5 | 1,858.8 | 2,131.6 | 2,436.4 | 2,809.1 | 3,243.8 | 3,759.2 | 4,372.0 | 15.1% |
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