IMARC Group, a leading market research company, has recently releases report titled “Cannabis Packaging Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global cannabis packaging market size, share, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
Report Highlights
How big is the Cannabis Packaging market?
|
Report Attributes |
Details |
|
Market Size in 2022 |
US$ 1247.6 Million |
|
Market Forecast in 2028 |
US$ 4,980.6 Million |
|
Growth rate (2023 to 2028) |
CAGR of 25.76% |
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Base Year of the Analysis |
2022 |
|
Forecast Period |
2023-2028 |
What are Cannabis Packaging?
Cannabis represents a psychoactive drug obtained from the Cannabis Sativa plant and used for medical and recreational purposes. It can be taken in various forms, such as tinctures, dermal patches, capsules, dermal sprays, and edibles. Cannabis assists in weight loss and treating muscle spasms, nausea, diabetes, depression, chronic pain, inflammatory bowel diseases (IBD), attention deficit hyperactivity disorder (ADHD), glaucoma, and seizures. It is packed in bottles, bags, pouches, jars, tubes, and metal tins to prevent damage while handling, transporting, and storing. The need for cannabis packaging has been boosted, owing to the legalization of this drug in several nations, to increase job growth and investment opportunities.
What are the growth prospects and trends in the Cannabis Packaging industry?
The escalating product demand in the healthcare industry to treat various medical conditions, including cancer, arthritis, migraines, epilepsy, Alzheimer’s, post-traumatic stress disorder (PTSD), Parkinson’s, and Tourette’s, on account of its therapeutic benefits, is primarily driving the cannabis packaging market. Besides this, the elevating requirement for this drug in the food and beverage (F&B) sector to manufacture nutritional supplements, sparkling water, and confectionery and bakery products is further augmenting the market growth.
Moreover, the launch of several policies by the government bodies is propelling the leading players to offer tamper-evident, child-resistant, re-sealable, and opaque packaging for edible cannabis, which is also catalyzing the global market. Apart from this, the rising automation in the packing of this drug to focus on sustainability and branding is acting as another significant growth-inducing factor. Furthermore, the introduction of recyclable variants, such as compostable pouches, biodegradable cellophane bags, and metal cans, is expected to bolster the cannabis packaging market in the coming years.
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Who are the key players operating in the industry?
The report covers the major market players including:
- Berry Global Inc.
- Cannabis Science Inc.
- Cannaline Cannabis Packaging Solutions
- Diamond Packaging
- Dymapak
- Elevate Packaging Inc.
- Green Rush Packaging
- Greenlane Holdings Inc.
- Kaya Packaging
- KushCo Holdings Inc.
- Maple Leaf Green World Inc.
- N2 Packaging Systems LLC.
What is included in market segmentation?
The report has segmented the market into the following categories:
Breakup by Type:
- Rigid
- Semi Rigid
- Flexible
Breakup by Packaging Material:
- Metal
- Plastic
- Cardboard Containers
- Glass
- Others
Breakup by Application:
- Medical Use
- Recreational Use
- Others
Breakup by Region:
- North America
- Europe
- Others
If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.
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