According to the latest report by IMARC Group, titled “Cannabis Packaging Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027.” the global cannabis packaging market reached a value of US$ 982.4 Million in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 3949.6 Million by 2027, exhibiting a CAGR of 25.40% during 2022-2027.
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.
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Cannabis Packaging Market Trends:
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.
Cannabis Packaging Market 2022-2027 Competitive Analysis and Segmentation:
Competitive Landscape With Key Players:
The competitive landscape of the cannabis packaging market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
- Berry Global Inc.
- Cannabis Science Inc.
- Cannaline Cannabis Packaging Solutions
- Diamond Packaging
- Elevate Packaging Inc.
- Green Rush Packaging
- Greenlane Holdings Inc.
- Kaya Packaging
- KushCo Holdings Inc.
- Maple Leaf Green World Inc.
- N2 Packaging Systems LLC.
Key Market Segmentation:
The report has segmented the cannabis packaging market on the basis of type, packaging material and application
Breakup by Type:
- Semi Rigid
Breakup by Packaging Material:
- Cardboard Containers
Breakup by Application:
- Medical Use
- Recreational Use
Breakup by Region:
- North America
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Key Highlights of the Report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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