Do you know what’s in your cannabis? A new industry report suggests that demand for high-quality cannabis is expected to jump significantly due to shifting opinions, increased moves towards legalization and decriminalization globally, and new market opportunities in the recreational and medical sectors.
According to a Frost & Sullivan report released last month, the global market for legal cannabis is estimated at about $15-17 billion currently and is projected to reach some $100 billion by 2025. Amid the increasing demand and the rising number of global ventures in the industry, there are also strict regulations, which vary by country, for the proper labeling of tetrahydrocannabinol (THC) and cannabidiol (CBD) values to ensure the therapeutic benefits and safety of cannabis for medical uses. THC is the principal psychoactive constituent of cannabis, while CBD is an active essential component derived from the hemp plant.
To this end, the cannabis testing market is projected to rise from $926 million in 2017 to $1.5-2 billion by 2025, according to the report.
Israeli cannabis tech startup GemmaCert is one of the few players in the testing field, having developed personal kits to test the active ingredients in cannabis. The devices, the GemmaCert and the GemmaCert Lite, analyze the total THC and CBD levels in a sample of cannabis, including levels in ground cannabis, dry flower buds, and CBD oil.