Cannabis Testing Services Market is Anticipated to Record Steady Sales Growth
Posted by Shrikant Mandlik on July 15th, 2022
The global cannabis testing services market will reach a valuation of USD 1.80 bn by 2025 compared to its previous valuation of 0.96 bn in 2020. The market will witness a growth at a CAGR of 13.5% during the forecast period.
The increasing demand for products with clean labels and potency and the need to meet compliance standards are the key factors driving the growth of this market. Manufacturers are more inclined toward third-party testing services that provide reliable information on their products’ quality, safety, and potency.
ResearchMoz shares a detailed report on the cannabis testing services market. This research report will provide a global and regional overview of the cannabis testing services market. The stakeholders will be able to see the latest opportunities in this market and capitalize on them.
Demand for Certificate Products Bolsters Cannabis Testing Services Market
The growing demand for certificate-based products among the cannabis products will compel the cannabis growers to get them tested. This will lead to significant growth opportunities in the cannabis testing services market in the coming years. The cannabis industry demands cannabis testing services due to the growing need for quality-related testing.
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Rising Legalization Boosts Demand for Cannabis Testing Services
The increasing legalization of marijuana in the U.S., legalization of medical marijuana in Germany, and legalization of recreational marijuana in Canada are driving the global cannabis testing services market. Factors such as falling prices, rising regulations, and growing awareness about cannabis among consumers further contribute to growth in this market.
The global cannabis testing services market is expected to grow at a CAGR of 13.5%. from 2020 to 2025. The market’s growth can be attributed to the increasing demand for products with clean labels and potency and the need to meet compliance standards. Growing demand for third-party testing services that provide reliable information on the quality, safety, and potency of cannabis-based products increases the growth opportunities in the global market.
The global cannabis testing services market is segmented on type, application, end-user, and region. Based on type, the market is segmented into chemical profiling and microbiological services.
The key players in the Cannabis Testing Services Market
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Service Type Outlook (Revenue, USD Billion)
End-User Outlook (Revenue, USD Billion)
Table Of Content
1. Executive Summary
2. Market Overview
3. Market Background
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About the AuthorShrikant Mandlik
Joined: July 7th, 2022
Articles Posted: 168
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