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Report
Australia & New Zealand Cannabis Extraction & Analytical Testing Market Forecast 2023-2030
Market Report I 2023-11-04 I 142 Pages I Inkwood Research
KEY FINDINGS
The Australia & New Zealand cannabis extraction & analytical testing market is predicted to develop with a CAGR of 16.94% during the forecast years, 2023 to 2030. Australia is one of the largest importers of unapproved medical cannabis products, as well as cannabis for scientific purposes worldwide, along with Israel and Germany.
MARKET INSIGHTS
In Australia, only two of more than 300 medicinal cannabis products are currently available in the Australian Register of Therapeutic Goods (ARTG). All remaining products are unregistered and can only be accessed with TGA approval via the special access scheme (SAS). The demand for medicinal cannabis is growing in Australia. Most medicinal cannabis approvals are for chronic pain, with almost 70,000 approvals for this condition in 2021. Medicinal cannabis is also commonly approved for anxiety, sleep issues and cancer pain. Through an AP, medical cannabis approvals reached around 304,000 in the first half, indicating an increase of more than 120% over the same period in the previous year when there were 137,000 AP approvals.
Medicinal cannabis constituting CBD has been legally available in New Zealand via prescription since 2018, while THC-only products entered the market eighteen months later in July 2019. Although medicinal cannabis has only recently been legalized in New Zealand, patients and doctors are rapidly making up for lost time. CBD-only products are still the most commonly prescribed forms. Prescriptions of products containing only THC experienced the highest growth of 594% in 2020 and 1040% in 2021 after subsequently becoming available in 2019. Therefore, such factors are anticipated to augment the market growth in Australia & New Zealand over the projection period.
COMPETITIVE INSIGHTS
Major companies operating in the market are SGS SA, Shimadzu Corp, etc.
Our report offerings include:
- Explore key findings of the overall market
- Strategic breakdown of market dynamics (Drivers, Restraints, Opportunities, Challenges)
- Market forecasts for a minimum of 9 years, along with 3 years of historical data for all segments, sub-segments, and regions
- Market Segmentation caters to a thorough assessment of key segments with their market estimations
- Geographical Analysis: Assessments of the mentioned regions and country-level segments with their market share
- Key analytics: Porter's Five Forces Analysis, Vendor Landscape, Opportunity Matrix, Key Buying Criteria, etc.
- The competitive landscape is the theoretical explanation of the key companies based on factors, market share, etc.
- Company profiling: A detailed company overview, product/services offered, SCOT analysis, and recent strategic developments
TABLE OF CONTENTS
1. RESEARCH SCOPE & METHODOLOGY
1.1. STUDY OBJECTIVES
1.2. METHODOLOGY
1.3. ASSUMPTIONS & LIMITATIONS
2. EXECUTIVE SUMMARY
2.1. MARKET SIZE & ESTIMATES
2.2. COUNTRY SNAPSHOT
2.3. COUNTRY ANALYSIS
2.4. SCOPE OF STUDY
2.5. CRISIS SCENARIO ANALYSIS
2.5.1. IMPACT OF COVID-19 ON CANNABIS EXTRACTION & ANALYTICAL TESTING MARKET
2.6. MAJOR MARKET FINDINGS
2.6.1. RISE IN ADOPTION OF GREEN AND SUSTAINABLE PRACTICES FOR CANNABIS EXTRACTION
2.6.2. INCREASED DEMAND FOR THC-FREE PRODUCTS
2.6.3. GROWING POPULARITY OF CANNABIS STRAIN AND TERPENE PROFILING
3. MARKET DYNAMICS
3.1. KEY DRIVERS
3.1.1. LEGISLATIVE SHIFT IN THE COUNTRY AND LEGALISATION OF CANNABIS
3.1.2. GROWING CANNABIS HEALTH AND WELLNESS TRENDS AMONG CONSUMERS
3.1.3. SURGE IN MEDICAL USE OF CANNABIS
3.2. KEY RESTRAINTS
3.2.1. REGULATORY HURDLES
3.2.2. DIFFICULTIES IN QUALITY CONTROL AND STANDARDIZATION
3.2.3. EXPENSIVE PRODUCTION EQUIPMENT COSTS AND EFFICIENCIES
4. KEY ANALYTICS
4.1. PARENT MARKET ANALYSIS
4.1.1. INTRODUCTION TO CANNABIS MARKET
4.1.2. TYPES OF CANNABIS EXTRACTS
4.1.3. APPLICATION OF CANNABIS
4.1.3.1. MEDICAL & PHARMACEUTICAL PRODUCTS
4.1.3.2. WELLNESS
4.1.3.3. ADULT-USE
4.1.4. INVESTMENT IN CANNABIS INDUSTRY
4.2. CANNABIS EXTRACTION & ANALYTICAL TESTING MARKET INTRODUCTION
4.3. DIFFERENT STAGES OF CANNABIS EXTRACTION
4.3.1. GRINDING
4.3.2. EXTRACTION
4.3.3. WINTERISATION
4.3.4. DECARBOXYLATION
4.3.5. DISTILLATION
4.3.6. ISOLATION
4.4. EQUIPMENT USED IN CANNABIS EXTRACTION PROCESS
4.4.1. INLINE CHILLER
4.4.2. CENTRIFUGE UTILITY PLATFORM (CUP)
4.4.3. PARTICULATE FILTER
4.4.4. FALLING FILM EVAPORATOR (FFE)
4.4.5. DECARBOXYLATION VESSEL
4.4.6. ROLLED FILM SHORT PATH DISTILLATION (RFD)
4.5. KEY MARKET TRENDS
4.5.1. EDIBLES INNOVATIONS MAKING WAVES IN THE INDUSTRY
4.5.2. EMERGENCE OF ANTI-INFLAMMATORY MEDICINES
4.5.3. CANNABIS BEVERAGES GAINING TRACTION ACROSS SATURATED & EMERGING MARKETS
4.5.4. ANALYTICAL CHARACTERIZATION OF CANNABIS STRAIN THROUGH CANNABIS FINGERPRINTING
4.6. PEST ANALYSIS
4.7. PORTER'S FIVE FORCES ANALYSIS
4.7.1. BUYERS POWER
4.7.2. SUPPLIERS POWER
4.7.3. SUBSTITUTION
4.7.4. NEW ENTRANTS
4.7.5. INDUSTRY RIVALRY
4.8. GROWTH PROSPECT MAPPING
4.8.1. GROWTH PROSPECT MAPPING FOR AUSTRALIA & NEW ZEALAND
4.9. MARKET CONCENTRATION ANALYSIS
4.10. VALUE CHAIN ANALYSIS
4.10.1. RESEARCH & DEVELOPMENT
4.10.2. RAW MATERIAL SOURCING
4.10.3. MANUFACTURING
4.10.4. DISTRIBUTION
4.10.5. INSTALLATION & TRAINING
4.11. KEY BUYING CRITERIA
4.11.1. TYPE OF PROCESSING
4.11.2. THROUGHPUT
4.11.3. TYPE OF SOLVENT USED
4.11.4. TYPE OF FINAL PRODUCT
4.12. REGULATORY FRAMEWORK
4.12.1. CANNABIS EXTRACTION CERTIFICATIONS
4.12.1.1. EU GMP (EUROPEAN MEDICINES AGENCY)
4.12.1.2. CGMP (FOOD AND DRUG ADMINISTRATION)
4.12.1.3. API (ACTIVE PHARMACEUTICAL INGREDIENT) CERTIFIED
4.12.1.4. ISO (INTERNATIONAL ORGANISATION FOR STANDARDISATION)
5. MARKET BY EQUIPMENT TYPE
5.1. CANNABIS EXTRACTION EQUIPMENT
5.1.1. MARKET FORECAST FIGURE
5.1.2. SEGMENT ANALYSIS
5.2. CANNABIS ANALYTICAL TESTING EQUIPMENT
5.2.1. MARKET FORECAST FIGURE
5.2.2. SEGMENT ANALYSIS
6. MARKET BY SERVICE
6.1. CANNABIS EXTRACTION SERVICE
6.1.1. MARKET FORECAST FIGURE
6.1.2. SEGMENT ANALYSIS
6.2. CANNABIS ANALYTICAL TESTING SERVICE
6.2.1. MARKET FORECAST FIGURE
6.2.2. SEGMENT ANALYSIS
6.3. CANNABIS REGULATORY AND COMPLIANCE SERVICE
6.3.1. MARKET FORECAST FIGURE
6.3.2. SEGMENT ANALYSIS
7. MARKET BY EXTRACTION METHOD
7.1. CO2-BASED EXTRACTION
7.1.1. MARKET FORECAST FIGURE
7.1.2. SEGMENT ANALYSIS
7.2. ALCOHOL/ETHANOL-BASED EXTRACTION
7.2.1. MARKET FORECAST FIGURE
7.2.2. SEGMENT ANALYSIS
7.3. HYDROCARBON-BASED EXTRACTION
7.3.1. MARKET FORECAST FIGURE
7.3.2. SEGMENT ANALYSIS
7.4. VEGETABLE OIL-BASED EXTRACTION
7.4.1. MARKET FORECAST FIGURE
7.4.2. SEGMENT ANALYSIS
7.5. SOLVENTLESS EXTRACTION
7.5.1. MARKET FORECAST FIGURE
7.5.2. SEGMENT ANALYSIS
7.6. OTHER EXTRACTION METHODS
7.6.1. MARKET FORECAST FIGURE
7.6.2. SEGMENT ANALYSIS
8. COMPETITIVE LANDSCAPE
8.1. KEY STRATEGIC DEVELOPMENTS
8.1.1. MERGERS & ACQUISITIONS
8.1.2. PRODUCT LAUNCHES & DEVELOPMENTS
8.1.3. PARTNERSHIPS & AGREEMENTS
8.1.4. BUSINESS EXPANSIONS & DIVESTITURES
8.2. COMPANY PROFILES
8.2.1. AGILENT TECHNOLOGIES INC
8.2.1.1. COMPANY OVERVIEW
8.2.1.2. SERVICE LIST
8.2.2. MERCK KGAA
8.2.2.1. COMPANY OVERVIEW
8.2.2.2. SERVICE LIST
8.2.3. AURORA EUROPE GMBH
8.2.3.1. COMPANY OVERVIEW
8.2.3.2. SERVICE LIST
8.2.4. SGS SA
8.2.4.1. COMPANY OVERVIEW
8.2.4.2. SERVICE LIST
8.2.5. THERMO FISHER SCIENTIFIC CORP
8.2.5.1. COMPANY OVERVIEW
8.2.5.2. SERVICE LIST
8.2.6. SHIMADZU CORP
8.2.6.1. COMPANY OVERVIEW
8.2.6.2. SERVICE LIST
8.2.7. SIAM HERBAL TECH
8.2.7.1. COMPANY OVERVIEW
8.2.7.2. PRODUCT LIST
LIST OF TABLES
TABLE 1: COUNTRY SNAPSHOT - CANNABIS EXTRACTION & ANALYTICAL TESTING
TABLE 2: TYPES OF CANNABIS EXTRACTS
TABLE 3: APPROVED CANNABIS PHARMACEUTICAL DRUGS
TABLE 4: AUSTRALIA & NEW ZEALAND CANNABIS EXTRACTION & ANALYTICAL TESTING MARKET, BY EQUIPMENT TYPE, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)
TABLE 5: AUSTRALIA & NEW ZEALAND CANNABIS EXTRACTION & ANALYTICAL TESTING MARKET, BY EQUIPMENT TYPE, FORECAST YEARS, 2023-2028 (IN $ MILLION)
TABLE 6: AUSTRALIA & NEW ZEALAND CANNABIS EXTRACTION & ANALYTICAL TESTING MARKET, BY SERVICE, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)
TABLE 7: AUSTRALIA & NEW ZEALAND CANNABIS EXTRACTION & ANALYTICAL TESTING MARKET, BY SERVICE, FORECAST YEARS, 2023-2028 (IN $ MILLION)
TABLE 8: AUSTRALIA & NEW ZEALAND CANNABIS EXTRACTION & ANALYTICAL TESTING MARKET, BY EXTRACTION METHOD, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)
TABLE 9: AUSTRALIA & NEW ZEALAND CANNABIS EXTRACTION & ANALYTICAL TESTING MARKET, BY EXTRACTION METHOD, FORECAST YEARS, 2023-2028 (IN $ MILLION)
TABLE 10: LIST OF MERGERS & ACQUISITIONS
TABLE 11: LIST OF PRODUCT LAUNCHES & DEVELOPMENTS
TABLE 12: LIST OF PARTNERSHIPS & AGREEMENTS
TABLE 13: LIST OF BUSINESS EXPANSIONS & DIVESTITURES
LIST OF FIGURES
FIGURE 1: MAJOR PHYTOCHEMICALS IDENTIFIED IN CANNABIS
FIGURE 2: KEY MARKET TRENDS
FIGURE 3: PORTER'S FIVE FORCES ANALYSIS
FIGURE 4: GROWTH PROSPECT MAPPING FOR AUSTRALIA & NEW ZEALAND
FIGURE 5: MARKET MATURITY ANALYSIS
FIGURE 6: VALUE CHAIN ANALYSIS
FIGURE 7: KEY BUYING CRITERIA
FIGURE 8: AUSTRALIA & NEW ZEALAND CANNABIS EXTRACTION & ANALYTICAL TESTING MARKET, GROWTH POTENTIAL, BY EQUIPMENT TYPE, IN 2022
FIGURE 9: AUSTRALIA & NEW ZEALAND CANNABIS EXTRACTION & ANALYTICAL TESTING MARKET, BY CANNABIS EXTRACTION EQUIPMENT, 2023-2028 (IN $ MILLION)
FIGURE 10: AUSTRALIA & NEW ZEALAND CANNABIS ANALYTICAL TESTING & ANALYTICAL TESTING MARKET, BY CANNABIS ANALYTICAL TESTING EQUIPMENT, 2023-2028 (IN $ MILLION)
FIGURE 11: AUSTRALIA & NEW ZEALAND CANNABIS EXTRACTION & ANALYTICAL TESTING MARKET, GROWTH POTENTIAL, BY SERVICE, IN 2022
FIGURE 12: AUSTRALIA & NEW ZEALAND CANNABIS EXTRACTION & ANALYTICAL TESTING MARKET, BY CANNABIS EXTRACTION SERVICE, 2023-2028 (IN $ MILLION)
FIGURE 13: AUSTRALIA & NEW ZEALAND CANNABIS EXTRACTION & ANALYTICAL TESTING MARKET, BY CANNABIS ANALYTICAL TESTING SERVICE, 2023-2028 (IN $ MILLION)
FIGURE 14: AUSTRALIA & NEW ZEALAND CANNABIS EXTRACTION & ANALYTICAL TESTING MARKET, BY CANNABIS REGULATORY AND COMPLIANCE SERVICE, 2023-2028 (IN $ MILLION)
FIGURE 15: AUSTRALIA & NEW ZEALAND CANNABIS EXTRACTION & ANALYTICAL TESTING MARKET, GROWTH POTENTIAL, BY EXTRACTION METHOD, IN 2022
FIGURE 16: AUSTRALIA & NEW ZEALAND CANNABIS EXTRACTION & ANALYTICAL TESTING MARKET, BY CO2-BASED EXTRACTION, 2023-2028 (IN $ MILLION)
FIGURE 17: AUSTRALIA & NEW ZEALAND CANNABIS EXTRACTION & ANALYTICAL TESTING MARKET, BY ALCOHOL/ETHANOL-BASED EXTRACTION, 2023-2028 (IN $ MILLION)
FIGURE 18: AUSTRALIA & NEW ZEALAND CANNABIS EXTRACTION & ANALYTICAL TESTING MARKET, BY HYDROCARBON-BASED EXTRACTION, 2023-2028 (IN $ MILLION)
FIGURE 19: AUSTRALIA & NEW ZEALAND CANNABIS EXTRACTION & ANALYTICAL TESTING MARKET, BY VEGETABLE OIL-BASED EXTRACTION, 2023-2028 (IN $ MILLION)
FIGURE 20: AUSTRALIA & NEW ZEALAND CANNABIS EXTRACTION & ANALYTICAL TESTING MARKET, BY SOLVENTLESS EXTRACTION, 2023-2028 (IN $ MILLION)
FIGURE 21: AUSTRALIA & NEW ZEALAND CANNABIS EXTRACTION & ANALYTICAL TESTING MARKET, BY OTHER EXTRACTION METHODS, 2023-2028 (IN $ MILLION)
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