China Cannabis Testing Services Market Size & Outlook
China cannabis testing services market, 2018-2030 (US$M)
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China Cannabis testing services market insights
- The China cannabis testing services market generated a revenue of USD 84.8 million in 2023.
- The market is anticipated to grow at a CAGR of 22.3% from 2024 to 2030.
- In terms of segment, potency testing was the largest segment in 2023.
- Potency Testing is the most lucrative product segment registering the fastest growth during the forecast period.
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Cannabis Testing Services Market Scope
Cannabis Testing Services Market Companies
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China 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.
Marijuana is illegal in China, but cultivation and production of hemp has been an established business since centuries. China is the largest cultivator of hemp in Asia and cultivates nearly half of the hemp production of the world. Presently, China has allowed cultivation of hemp in three provinces: Yunnan, Heilongjiang, and Jilin.
The country also exports approximately 90% of the produce to the U.S., Germany, the UK, the Netherlands, and Japan. China is also considered to be a superpower in hemp production, as it currently owns 300 hemp patents out of total 660 in the world and provides half of the world’s hemp products.
Moreover, the country is looking to produce CBD from hemp. Furthermore, China is currently allowing sale of hemp oil and use of hemp derivatives in cosmetics. Only four Chinese companies that hold special licenses to grow and process hemp provide them.
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Target buyers of China 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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The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of country-level data and insights on the China cannabis testing services market, including forecasts for subscribers. This country databook contains high-level insights into China cannabis testing services market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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China cannabis testing services market size, by service type, 2018-2030 (US$M)
China Cannabis Testing Services Market Share, 2023 & 2030 (US$M)
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