South Africa Cannabis Testing Services Market Size & Outlook
South Africa cannabis testing services market, 2018-2030 (US$M)
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South Africa Cannabis testing services market insights
- The South Africa cannabis testing services market generated a revenue of USD 165.4 million in 2023.
- The market is anticipated to grow at a CAGR of 29.6% from 2024 to 2030.
- In terms of segment, potency testing was the largest segment in 2023.
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Cannabis Testing Services Market Scope
Cannabis Testing Services Market Companies
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South Africa 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.
In South Africa, cannabis for personal and private use was decriminalized in 2018. The country defines regulations for the cultivation of cannabis for scientific, medical, and research purposes. Owing to legalization in the country, cannabis derived CBD products have gained popularity and has attracted companies to invest in the market.
Furthermore, in South Africa, the regulatory authority— South African Health Products Regulatory Authority (SAHPRA)—has authorized patients access to cannabis-containing products in exceptional circumstances, during which the products have to be subscribed by physicians first in order to obtain permission to import the required product.
In addition, South African Department of Health and SAHPRA have issued guidelines for the cultivation of cannabis and ensuring accessibility of superior quality cannabis for medical, scientific, and clinical research purposes. Moreover, House of Hemp, a South African company, has acquired the license for cannabis cultivation from SAHPRA.
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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 South Africa cannabis testing services market, including forecasts for subscribers. This country databook contains high-level insights into South Africa cannabis testing services market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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South Africa cannabis testing services market size, by service type, 2018-2030 (US$M)
South Africa Cannabis Testing Services Market Share, 2023 & 2030 (US$M)
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