Cannabis Packaging Market Size, Status, Demand and Global Outlook 2021-2025The Research report on the Cannabis Packaging is complete guide for the new entrants in the market; the report provides the market history of every product ever retailed by the company. It also provides history of the product types, sales, volume, technology, during the forecast period. The growth rate challenges and barriers are also explained in the Cannabis Packaging market research report. The report shades light on the development rate of the strategies. Products and technologies used in the production, manufacturing and marketing of the report.
The cannabis packaging market was valued at USD 101.48 billion in 2019and is expected to reach USD 297.51 billion by 2025, at a CAGR of 22.59% over the forecast period 2020- 2025.
Top Leading Manufactures-
KushCo Holdings Inc., JL Clarks Inc., Kaya Packaging, Impak Corporation, Funksac LLC., Dixie Elixirs & Edibles, Pollen Gear LLC., N2 Packaging Systems, Green Rush Packaging, Isodiol International Inc.
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Green packaging is a significant trend that is the push for weed products to be packaged in materials that are recyclable, biodegradable, and compostable. As more states are legalizing medical cannabis, the cannabis industry across the globe has grown more than 310% in the past 4-5 years. Therefore, it is necessary to have suitable packaging for the cannabis product.
- The packaging of cannabis is the most crucial process owing to various regulations imposed by the governments of different countries across the globe. According to these strict regulations, the packaging of cannabis products should have a single and uniform color, with a standardized font style.
- The packaging is essential for various forms like the Jar protects the integrity of the flower whereas the airtight containers allow the curing process of cannabis to develop over time.
- The increasing use of cannabis by the medical industry for treating various chronic conditions, such as epilepsy, Alzheimer's, etc., is estimated to boost the cannabis packaging market in the future. Cannabis is used to reduce vomiting and nausea during chemotherapy, improve appetite for the patients of HIV/AIDSs, and lower chronic pain and muscle spasms.
- The cannabis packaging market is expected to register notable growth in the next few years, owing to the rising demand for medical and recreational cannabis products. Moreover, the legalization of cannabis in various countries of North America is another major factor driving the global cannabis packaging market. However, the stringent regulation related to cannabis packaging may hamper the market growth of cannabis packaging in the future globally.
Key Market Trends
Recreational Segment to Grow at Faster Rate During the Forecast Period
- The recreational segment, by application, is projected to be the fastest-growing segment in the market. Despite recreational cannabis having an extremely low presence, its consumption and demand remain almost equivalent to that of medicinal cannabis, and hence, with further legalization, the demand for recreational cannabis could look at surpassing the demand for medical cannabis.
- Uruguay and Canada are the only countries in North and South America that have legalized the use of recreational cannabis. The market is projected to remain concentrated in the United States and Canada.
- According to an online publication Marijuana Moment, on October 7th, 2019, the Senate leader of Mexicos ruling party said that the lawmakers will vote on a bill to legalize marijuana for adult use by the end of the month. In doing so, it would become only the third country globally to have waved the green flag on adult-use weed, after Uruguay and Canada.
- In United States, the number of people consuming cannabis is increasing over the year due to cannabis are being legalized in the region for its medicinal and recreational uses that boost consumption.
North America is projected to account for the largest market share during the forecast period.
- The North American market for cannabis is estimated to account for the largest market share. The market in this region is primarily driven by growth in the United States and Canadian markets.
- The cannabis market in this region is also driven by the increasing legalization of cannabis for both medical and recreational purposes all over North America and the increasing awareness among consumers regarding the health benefits of cannabis.
- The cannabis market is further fueled by the presence of major cannabis giants such as Canopy Growth Corporation, Aurora Cannabis Inc., and Medical Marijuana Inc. who are continuously investing and collaborating for the development of new products to fulfill the consumer demand.
- The rapid popularity of alternative ingestion techniques, such as weed-laced topical sprays and edible food items, are also propelling the cannabis market in North America, thereby, boosting the cannabis packaging market.
- Moreover, various medical organizations, such as the American Public Health Association, American Nurses Association, National Multiple Sclerosis Society, American Medical Student Association, Epilepsy Foundation, and Leukemia and Lymphoma Society, have permitted access of medical cannabis to patients with chronic conditions. Therefore, this is likely to further enhance the regional demand for cannabis packaging in the upcoming years.
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- June 2019 - KushCo Holdings, Inc. has partnered with C.A.Fortune, a leading full-service national consumer product sales and marketing agency focused on lifestyle brand partnerships, to provide viable CBD companies access to large scale, conventional retail channels. The groundbreaking partnership will be the first large scale go-to-market operation focused on helping compliant CBD brands achieve mass distribution across legal markets in the United States.
What are the market factors that are explained in the report?
–Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a Global and regional scale.
–Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.
–Analytical Tools: Global Cannabis Packaging Market report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter’s five forces analysis, feasibility study, and investment return analysis have been used to analyzed the growth of the key players operating in the market.
Irfan Tamboli (Head of Sales) – Market Insights Reports
Phone: + 1704 266 3234
MarketInsightsReports provides syndicated market research on industry verticals including Healthcare, Information and Communication Technology (ICT), Technology and Media, Chemicals, Materials, Energy, Heavy Industry, etc. MarketInsightsReports provides global and regional market intelligence coverage, a 360-degree market view which includes statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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