Home Categories Info Network

Asia Pacific: Cannabis Testing And The Untapped Cbd Market

Permalink Report to webmaster

Cannabis and hemp are generally illegal across the Asia Pacific region however, places such as Thailand have recently legalised medical cannabis.

As attitudes changes towards the plant are changing, the different markets are set to grow in the region. Asia is a largely untapped CBD market and represents the next enormous market opportunity to benefit from the global secular trend towards the legalisation of cannabis.

Cannabis testing market in the Asia Pacific region

The Asia Pacific is considered to be the most attractive regional market for laboratory proficiency testing owing to the large base of manufacturers and research laboratories in the region. Also, the growing scientific base and research capabilities in several Asian countries; growth of the Asian pharmaceutical, food, and biologics markets; and the large base of CROs in the region are some of the other major factors driving market growth in the region.

The Asia Pacific Cannabis Testing Market to 2025 – Regional Analysis and Forecasts by Type; Services; End User and Country report has estimated that the Asia Pacific cannabis testing market is expected to reach $422.74m USD (~€384.88m) in 2025 from $132.38m in 2017.

The market is estimated to grow with a CAGR of 15.8% from 2018-2025.

The growth of the cannabis testing market is primarily attributed to the growing adoption of LIMS and cannabis legalisation for medical and recreational purpose in the region.

Source: https://420intel.com/articles/2019/10/07/asia-pacific-cannabis-testing-and-untapped-cbd-market

Continue reading

Nobody has rated this post!
Vote now!
Cumulative results: 0 points • Rating: 0.000

Send a comment 0 comments

Leave a comment

Your name (required)
Your email (required)
Your website URL (optional):
Save your details in cookies (only on this browser)