The Global Cannabis Packaging Market was worth USD 2.60 billion in 2021 and is poised to amplify at a CAGR of 25.2% over 2022-2030, thereby amassing USD 23.83 billion by end of the assessment timeline.
Cannabis Packaging– Overview
Cannabis is a psychoactive substance that can be used both medically and recreationally. It is derived from the Cannabis sativa plant. It is available in a variety of forms, including pills, tinctures, dermal patches, dermal sprays, and consumables.
It helps with weight loss and the treatment of chronic pain, muscular spasms, nausea, diabetes, depression, inflammatory bowel disorders (IBD), ADHD, glaucoma, and seizures. It also helps with diabetes and depression. For protection during handling, storage, and transportation, it is packaged in jars, bottles, bags, pouches, tubes, and metal tins.
Due to varied rules that governments of various nations throughout the world have implemented, cannabis packing is the most important step.
Key market trends- Growth determinants and restraints
The Global Cannabis Packaging Market is developing at a quicker pace with significant development rates throughout the most recent couple of years and is assessed that the market will fill essentially in the gauge period for example 2022 to 2030.
The cannabis packaging market is increasing because it provides improved cannabis preservation, which facilitates efficient shipping. A strong growth trajectory is anticipated for the global cannabis packaging industry as a result of the growing demand for cannabis globally. Additionally, the market has grown during the projected period due to the prevalence of cannabis in the medicinal sector.
Due to the increasing demand for cannabis products for consumption, both medically and recreationally, the cannabis packaging market is predicted to experience significant expansion over the next years. The legalisation of cannabis in more and more nations is probably what will drive the business in the future.
Since recreational cannabis use has experienced exceptional expansion in recent years, the industry is anticipated to be driven by this sector in the future. According to The Marijuana Business Daily, flowers are the most popular type of cannabis sold in the country. The flower is put into flexible packaging bags or jars. It is projected that the quick legalisation of cannabis use in the United States and Canada’s already-existing free market will increase demand for cannabis packaging.
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Segmentation Analysis of Global Cannabis Packaging market:
Based on type
- Rigid
- Semi rigid
- Flexible
- Other
Based on packaging material
- Metal
- Plastic
- Cardboards containers
- Glass
- Others
Based on application
- Medical use
- Recreational use
- Others
North America is expected to hold the largest market share
North America, Europe, Latin America, Asia Pacific, and Middle East and Africa are the major regions constituting the geographical landscape of Global Cannabis Packaging market. North America dominates the market with the largest market share among others.
Competitive Landscape
The Key players in the Global Cannabis Packaging Market are 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. and N2 Packaging Systems LLC.
Major development:
1) The Global Cannabis Packaging market is expected to increase at a significant rate during the figure time period, somewhere in the range of 2022 to 2030. In 2020, the market was developing at a consistent rate and with the increasing reception of systems by key players, the market is supposed to ascend over the projected skyline.
Major questions answered in this report:
- What is the growth rate of this Market?
- What are the primary growth determinants of this market?
- Which are the major regions constituting the geographical landscape of this Market?
- Which are the prominent companies operating in This Market?
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Key takeaways from the report-
- The Global Cannabis Packaging market register a growing CAGR of over 25.2% from 2022 to 2030.
- Due to the increasing demand for cannabis products for consumption, both medically and recreationally, the cannabis packaging market is predicted to experience significant expansion over the next years.
- North America to lead the market with the highest market share.
- Some popular companies are Berry Global Inc., Cannabis Science Inc., Cannaline Cannabis Packaging Solutions, and Diamond Packaging.
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