Auguest 05, 2021, New York, USA – Cannabis Packaging Equipment Market is a growing industry owing to the much demand for cannabis. In the earlier days, cannabis was packaged in tiny small bags without any branding or marketing, however, the packaging of the cannabis is taking a whole new turn for the better.
Cannabis is normally packed in a container and some of the products may also contain an outer container. Some of the products have shrink-wrapped or huge wrapper paper. Initially, cannabis was packaged and sold illicitly all across the globe however there are been a change in the packaging of cannabis. This has been because cannabis has been legalized in many of the countries in the United States and also in Canada and this has led to the growth of the market which is showing explosive growth.
This has subsequently led to a rise in efficient and faster packaging processes and which has led to packaging automation. The benefits of an auto packaging system can not only speed up the process but also reduce manual labor and can lead to more accurate package weights which can produce fresher, longer and quality products that sustain their quality for the longest time.
Along with the decrease in manual processes, there is also a rise in production and subsequent profits. There will be higher accuracy along with high speed which gives you quality product along with timely delivery.
Market Drivers for The Global Cannabis Packaging Equipment Market-
The United Nations Report which was published in the year 2020 reported one crucial fact and that was that cannabis was used by over 190 billion people globally making it the most consumed substance. This number is going to increase even more as there are a large number of consumers who are entering the market along with a large number of suppliers.
This proportional rise in demand and supply has led to the growth of the cannabis packaging market.
The Global Packaging Market Equipment is expected to grow at a rate of $US 24.10 million by the year 2028 and is expected to grow at Compounded Annual Growth Rate of 7.10% for the forecast period from 2021 to 2028.
The reason for cannabis growth is due to the fact of both medical and recreational purposes. The rising demand in the medical domain has further proliferated the need for safe medical packaging and increasing demand for different packaging equipment.
The countries which are at the forefront in the Global Packaging Equipment Market are North America, Canada, Mexico, Germany, France, UK, Netherlands, Switzerland, Belgium, France, India, South Korea, Thailand, Saudi Arabia, and Africa.
North America leads the market due to the increasing use of cannabis for the treatment of different chronic diseases and also for recreational purposes. Over 33 states in America have legalized the use of cannabis for recreational purposes. The second leading in this market in Asia-Pacific is due to the rising use of cannabis for treating different mental illnesses which is the primary reason in the Asia Pacific.
The top market players in the Cannabis Packaging Market are highly stabilized markets and there are few players which are dominating the major market share across the globe.
Among these Ventiv Design is at the forefront where it manufactures personalized and sustainable packaging for cannabis. The packaging is made up of hemp paper and with a unique slider box.
The major players in the Global Packaging Cannabis Market are-
- JL Clark
- Elevate Packaging
- Kush Supply
- Box Maker
- Kaya Cannabis
- Sana Packaging
- Pollen Gear
- N2 Packaging
For the packaging of the equipment, plastic holds a major share and is one of the preferred packaging options for different types of cannabis. Cannabis such as tinctures, flowers, oil, and pills are some of the preferable options for the plastic packaging of cannabis.
This is because the low weight of the plastics is one of the driving factors for the preferred type of packaging equipment.
Another reason why the cannabis products are packaged in small equipment as a result of which they generate very low volumes of waste and also generate less packaging weights.
The key challenges for the Global Cannabis Packaging Market-
Even though Cannabis is legalized in the United States the FDA and federal regulations keep on changing. Also, the packaging and the labeling laws keep on changing. Updating the machines with new and improved technologies is another challenge. The key players are focused on bringing in innovative technology and strong identifications of branding and packaging solutions.
Some of them include-
Customization of the packaging shapes.
Enhanced quality of labels
Improved quality of packaging materials
Good sealing and locking properties
The protection and the branding of the products are the key parameters to look out for the products. Increased consumption of cannabis with chocolates and cannabis-infused butter provides a huge opportunity for cannabis packaging manufacturing equipment manufacturers.
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