Global Cannabis Testing Market 2023 to 2035: Growing Demand for Cannabis Legalization and Cannabis-infused Products Fuels the Sector – ResearchAndMarkets.com

DUBLIN–(BUSINESS WIRE)–The “Cannabis Testing Market: Distribution by Type of Cannabis Tested, Type of Sample Tested, Company Size, and Key Geographical Regions: Industry Trends and Global Forecasts, 2023-2035” report has been added to ResearchAndMarkets.com’s offering.

This report features an extensive study of the current market landscape and the likely future potential of the cannabis testing market, over the next 12 years.

It highlights the efforts of various stakeholders engaged in this rapidly emerging segment of the cannabis testing industry.

In the last few years, several countries across the globe have legalized the use of medical cannabis and recreational-use cannabis / adult-use cannabis. This can be attributed to the therapeutic potential of cannabis and cannabis-infused products that has been acknowledged recently.

Studies have shown that cannabis can provide substantial relief from adverse effects, such as chemotherapy-induced nausea and chronic pain associated with multiple sclerosis. In fact, three cannabis-derived prescription medications have already been approved for sale across the US.

Further, the recent legalization of cannabis across several countries, including Canada, Germany and Thailand, has prompted several stakeholders to develop and manufacture cannabis-infused products. However, the illicit market with questionable product quality still remains the primary source of cannabis and cannabis-infused products for the masses.

Further, the high potency of the cannabinoids and presence of contaminants, including microbes, pesticides, heavy metals and residual solvents in cannabis-infused products, compromise their shelf life as well as the consumer safety. This inherent lack of quality raises various concerns, challenging the future of this market.

In order to overcome these challenges, it becomes imperative that cannabis-infused products comply with the regulatory standards, stringent testing protocols to maintain the safety thresholds and protect consumer health. With rise in demand for safe and compliant cannabis-infused products, the cannabis testing market is anticipated to witness steady growth in the upcoming decade, offering various testing solutions to a number of end-users, including cultivators, product manufacturers, and research institutes.

Key Market Insights

Growing Demand for Cannabis Legalization and Cannabis-infused Products

There has been a steady increase in the consumption of cannabis, also known as marijuana; since 2018, the number of young-adults consuming the plant in any form has increased by 5%. Moreover, the consumption of cannabis increased by 20% during the COVID-19 pandemic.

Presently, many countries have legalized medicinal use of cannabis, while 10 such countries have also approved recreational use of the plant. According to the National Organization for the Reform of Marijuana Laws, there were at least 21 US states and District of Columbia that have legalized medical cannabis or adult-use cannabis. Consequently, there is an increasing demand for a diverse range of cannabis-infused products (in terms of applications, medical or recreational), including tinctures, salves, edibles, vape oils and raw plant materials.

Need for Cannabis Testing Labs

The recent legalization of medicinal cannabis across the US and many other regions, coupled with the decriminalization of the plant for recreational use, has revolutionized the field. Stringent regulatory standards have been imposed in order to ensure the quality of the product and safety of consumers.

To comply with these regulatory standards, an increasing number of cultivators, manufacturers and research institutes are leveraging the superior technical expertise of cannabis testing labs. These service providers offer analysis along with options for testing multiple product samples / final products with quick turnaround times, aiding the quality compliance of the products, as well as fortifying consumer safety.

Cannabis Testing Services Market Size

Driven by the rising demand for novel cannabis-infused medicinal and recreational products, the cannabis testing services market is anticipated to witness noteworthy growth in the foreseen future. Specifically, in terms of type of cannabis tested, the market is anticipated to be driven by the high demand for medicinal cannabis. Currently, majority of the revenues are generated from the testing of flower samples; however, in the near future, market for testing extracts and edibles is anticipated to grow at a relatively higher CAGR.

Key Topics Covered:

1. PREFACE

2. EXECUTIVE SUMMARY

3. INTRODUCTION

4. MARKET LANDSCAPE: CANNABIS TESTING SERVICE PROVIDERS

5. CANNABIS TESTING SERVICE PROVIDERS: COMPANY COMPETITIVENESS ANALYSIS

6. CANNABIS TESTING SERVICE PROVIDERS: COMPANY PROFILES

6.1. Chapter Overview

6.2. AccuScience Laboratories

6.2.1. Company Overview

6.2.2. Service Portfolio

6.2.3. Recent Developments and Future Outlook

6.3. Anresco Laboratories

6.4. CDX Analytics

6.5. Coastal Analytical

6.6. Eurofins Scientific

6.7. EVIO Labs

6.8. FoodChain ID

6.9. LGC

6.10. Medicine Creek Analytics

6.11. SGS

6.12. Tentamus

7. MARKET LANDSCAPE: CANNABIS TESTING PRODUCT PROVIDERS

8. PARTNERSHIPS & COLLABORATIONS ANALYSIS

9. GLOBAL EVENTS ANALYSIS

10. CANNABIS TESTING SERVICES MARKET: MARKET SIZING AND OPPORTUNITY ANALYSIS

11. CONCLUDING REMARKS

12. EXECUTIVE INSIGHTS

13. APPENDIX 1: TABULATED DATA

14. APPENDIX 2: LIST OF COMPANIES AND ORGANIZATIONS

For more information about this report visit https://www.researchandmarkets.com/r/i7hqfv

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