UK Cannabis Testing Services Market Size & Outlook
UK cannabis testing services market, 2018-2030 (US$M)
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UK Cannabis testing services market insights
- The UK cannabis testing services market generated a revenue of USD 8.1 million in 2023.
- The market is anticipated to grow at a CAGR of 33.3% 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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UK 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.
According to the UN International Narcotics Control Board (INCB), the UK is the largest exporter and producer of medical marijuana (including cannabis products) in the world, owing to factors such as legalization of medical cannabis and favorable climatic conditions. The country produced nearly 95 tons of medical marijuana and exported nearly 2.1 tons in 2016.
In addition, in November 2018, the UK government changed the law on medicinal cannabis consumption and moved it from schedule 1 to schedule 2 drugs, which allowed doctors to prescribe it to patients suffering from certain medical conditions.
Despite this major step, many patients are not provided with cannabis products, and they have to purchase it from the black market. In the UK, according to Institute of Economic Affairs, illegal cannabis trade is worth USD 3.2 billion, and more than 255 tons was sold to 3 million users between 2016 and 2017.
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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 UK cannabis testing services market, including forecasts for subscribers. This country databook contains high-level insights into UK cannabis testing services market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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UK cannabis testing services market size, by service type, 2018-2030 (US$M)
UK Cannabis Testing Services Market Share, 2023 & 2030 (US$M)
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