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Cannabis Testing Market Analysis

Report ID: GMI3567
Published Date: Mar 2023
Report Format: PDF

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Cannabis Testing Market Analysis

Cannabis testing market from chromatography segment is expected to generate a valuation of around USD 17.5 billion by 2032. Chromatographic methods are gaining prominence for cannabis testing as they provide quick and accurate results. Furthermore, reputed laboratories are investing in new technologies to enhance their service offering, which is likely to propel segment development. Additionally, its automation and configurability allow Smithers to analyze the most recent advancements in cannabis and terpenes methodologies and provide customers with a route toward strain phenotyping.

Pesticide screening segment held over 18.5% revenue share of the cannabis testing market in 2022 and is projected to dominate the industry through 2032. Due to the substantial health risks that pesticides provide to users, several jurisdictions, allow the use of certain pesticides under strict limits, while some have completely outlawed the use of pesticides on cannabis plants and mandate the testing of all cannabis products to guarantee that they are pesticide-free. Due to its selectivity, sensitivity, and toughness, LC-MS has emerged as a preferred technology for pesticide analysis. With the rapid expansion of the cannabis industry, the need for pesticide screening is expected to drive segment size.

Cannabis Testing Market Size, By Region

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Europe cannabis testing market held a sizable revenue share in 2022 and is estimated to grow at more than 14% CAGR over 2023-2032. The possession of small amounts of cannabis is no longer regarded as illegal in several European nations. Key businesses are developing cutting-edge technologies and cannabinoid products to explore new opportunities, which is expected to boost the regional market progression. U.S. cannabis testing industry is expected to grow at a CAGR of over 10.5% in the coming years owing to rigorous R&D initiatives to utilize cannabis for treating infections and illnesses.

Authors: Mariam Faizullabhoy, Gauri Wani

Frequently Asked Questions (FAQ) :

Global market for cannabis testing was worth more than USD 7 billion in 2022 and is poised to grow at over 13.5% CAGR through 2032 owing to the increasing legalization of cannabis in several countries for medical purposes.

Chromatography technology segment is expected to account for around USD 17.5 billion by the end of 2032 owing to the growing adoption of chromatographic methods for quick and accurate results.

Europe cannabis testing market is estimated to grow at more than 14% CAGR from 2023 to 2032 attributed to the ongoing efforts by key business players to develop cutting-edge technology and products.

Some of the prominent enterprises operating in the market are Green Scientific Labs, EVIO, Anandia Labs, Eurofins Scientific, Anresco, Eirlab, Digipath, SC Labs, Pure Analytics, PSI Labs LLC, Steep Hill, and Phytovista Laboratories, among others.