The market for cannabis testing tools and technology is anticipated to hit its stride in 2025. The market, which was worth a little over $1 billion in 2017, will be worth $2.4 billion within the next five years. According to the latest research from The Insight Partners, that works out to a CAGR of 11.9 percent.
A little under twelve percent in five years might not make an investor’s head spin, but it proves that steady growth is possible despite the legal restrictions tethering North American cannabis. Insight’s 100-page report details exactly how the cannabis testing market will toughen out the political landscape, especially in the United States.
The United States has the most to gain from cannabis testing
Insight’s report names North America as the largest market for cannabis testing. And as thirty states have already legalized cannabis for medical use, the U.S. represents the largest share in