Latin America Cannabis Testing Services Market Size & Outlook
Latin America cannabis testing services market, 2018-2030 (US$M)
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Latin America Cannabis testing services market insights
- The Latin America cannabis testing services market generated a revenue of USD 58.4 million in 2023.
- The market is anticipated to grow at a CAGR of 27.1% from 2024 to 2030.
- Mexico cannabis testing services market was the largest revenue contributor in Latin America in 2023.
- 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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Latin America 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.
Latin America has imposed stringent regulations on cannabis and its derivatives, primarily due to the history of drug trafficking in the region. However, various initiatives are being undertaken by many countries for legalization of cannabis and its derivatives.
Furthermore, there are countries in the region providing access to cultivation of cannabis at home and for personal consumption, with certain restrictions. Uruguay, Mexico, Brazil, Colombia, and Chile have allowed home-growing for either medical or recreational purposes, within certain limits.
This, in turn, has increased the demand for testing services to avoid contaminants or harmful chemicals and verify that the products are safe for human consumption. Furthermore, due to legalization in some countries, many companies are keen on entering the Latin America cannabis market.
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Target buyers of Latin America 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 continent-level data and insights on the Latin America cannabis testing services market, including forecasts for subscribers. This continent databook contains high-level insights into Latin America cannabis testing services market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Latin America cannabis testing services market size, by country, 2018-2030 (US$M)
Latin America Cannabis Testing Services Market Share, 2023 & 2030 (US$M)
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