NEW YORK , Aug. 27, 2024 /PRNewswire/ -- Report with the AI impact on market trends- The global cannabis testing market size is estimated to grow by USD 2.04 billion from 2024-2028, according to Technavio.
The market is estimated to grow at a CAGR of about 15.23% during the forecast period. Increasing use of cannabis for medical purposes is driving market growth, with a trend towards emergence of luxury cannabis products.
However, high cost of analytical products poses a challenge. Key market players include Agilent Technologies Inc., AmSpec LLC, Analytical Center Biopharm GmbH, Bio Rad Laboratories Inc.
, Danaher Corp., Digipath Inc., Eurofins Scientific SE, KNAUER Wissenschaftliche Gerate GmbH, LabWare Inc.
, Medicinal Genomics Corp., Merck KGaA, Mettler Toledo International Inc., PerkinElmer Inc.
, Sartorius AG, SGS SA, Shimadzu Corp., Thermo Fisher Scientific Inc., and Waters Corp.
. Get a detailed analysis on regions, market segments, customer landscape, and companies- View the snapshot of this report Market Driver In the cannabis market, there is a growing trend towards luxury cannabis products, particularly edibles. These products offer consumers controlled and monitored quantities of cannabis, allowing them to enjoy therapeutic benefits without the negative effects of smoking.
Companies like Madame Munchie, Defonce Chocolates, and Kikoko Teas are leading this trend, producing a range of edible items such as macarons, chocolates, and teas. Madame Munchie's macarons contain.