Published today, The Cannabis Testing Report offers comprehensive and invaluable insights into the critical aspect of cannabis testing.
Packed with meticulously researched data, industry analysis, and expert commentary, this report is a must-have resource for stakeholders seeking to navigate the evolving landscape of cannabis testing.
It covers topics such as testing methodologies, emerging technologies, regulatory frameworks, and global market trends. Whether you’re a cannabis producer, laboratory, or regulatory authority, The Cannabis Testing Report is an indispensable tool for staying ahead in the rapidly-evolving global cannabis industry.
Overview
The global cannabis industry is undergoing rapid growth, attracting numerous new entrants seeking to establish a foothold in this evolving market. Due to the swift expansion of the sector, the practice and regulation around product testing and quality control, both in-house as part of manufacturing and third-party as part of independent quality checks, is still in the process of development.
As the industry becomes more sophisticated, technological advancements and a growing wealth of knowledge around cannabis testing will allow comprehensive regulatory frameworks to be developed, and quality control systems to become harmonised internationally. Currently, due to the emerging nature of the industry, there are a variety of different approaches taken by regulators and operators in different markets regarding cannabis testing. Nevertheless, a focus on testing is increasingly being prioritised as the sector places greater emphasis on transparency and product quality.
As the wider cannabis industry grows, so too does the market for cannabis testing. To understand the revenue potential of the global cannabis testing market, it is helpful to look at how much similar sectors, like the food & beverage sectors or pharmaceuticals, spend on testing. Based on this measure, the total global market size for cannabis testing could range from 0.29% to 0.64%, of the total global cannabis market size. In absolute terms, this means that by 2027, global cannabis testing could be worth between US$360 million and US$770 million.
The growth and development of cannabis testing is a necessary prerequisite for the global cannabis industry to flourish, because the reliable testing of products is of paramount importance for; the well-being of patients and consumers, the success of businesses, the confidence of investors and the overall reputation of the industry.
Key Findings
- The total global market size for cannabis testing could range from 0.29% to 0.64% of the total global cannabis market size.
- In absolute terms, this means that, by 2027, the global cannabis testing market could be worth between US$360 million and US$770 million.
- High performance liquid chromatography (HPLC) and gas chromatography (GC) remain the most significant methodologies used for cannabis analysis currently.
- The capacity for rapid on-site analysis is growing, particularly with devices which use near-infrared (NIR) spectroscopy.
- In Europe, Germany currently holds the highest concentration of third-party lab operators that offer testing services for the cannabis industry. This is primarily driven by Germany as it is the largest medical cannabis market in the region.
- In North America, the testing market for cannabis is fairly mature as there are uniform regulations for cannabis in Canada and for hemp in the US. In Canada, the market is held by smaller specialised cannabis testing labs whereas, in the U.S., larger operations and multistate operators (MSOs) have a grip on the market.
Partners
We’d like to say a massive ‘thank you’ to our partners for sponsoring this critical report: CANNAVIGIA, Shimadzu, VerneBio, NIRLAB, and Advantcode. Without these forward-thinking organisations sponsoring the report and showing an unwavering commitment to product quality and consumer safety, the creation of the report itself would not have been possible.
