Rapid Legalization Of Cannabis Across Multiple States

Posted 2023-12-11 13:02:00

The US cannabis testing services market is estimated to be valued at US$ 1.87 Billion in 2023 and is expected to exhibit a CAGR of 16 % over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Key Takeaways:

The Global US Cannabis Testing Services Market Growth is expected to witness high, exhibiting CAGR of 16% over the forecast period, due to increasing legalization of cannabis across various states. Several states have legalized medical and recreational cannabis in recent years which will boost market revenues through requirement of quality certification.

Regional analysis: The western region accounts for the largest share in the US cannabis testing services market currently. States like Colorado, California and Washington have established regulatory frameworks for cultivation, processing and retail sales of cannabis since several years. This provides a major boost to testing laboratories in these states. The northeast region is expected to see fastest growth during the forecast period led by developing medical cannabis programs in New York and New Jersey.

Key players operating in the US cannabis testing services market are Saskatchewan Research Council (SRC), SC Labs, Steep Hill, Inc., SGS Canada Inc., CW ANALYTICAL and PharmLabs, GreenLeaf Lab, Eurofins Scientific. Most companies offer multi-dimensional testing services including potency analysis, residual solvents screening, terpene profiling, microbial examinations, mycotoxin detection, heavy metals testing and pesticides testing. They also provide testing equipment and consumables to support laboratory operations.

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