Cannabis Packaging Market Growing Massively by 2021-2026 Major Players: KushCo Holdings Inc., JL Clarks Inc., Kaya Packaging, Impak Corporation

Latest released, the research study on Global Cannabis Packaging Market Report Forecast 2021 - 2026, offers a detailed overview of the factors influencing the global business scope. Cannabis Packaging Market research report shows the latest market insights, current situation analysis with upcoming trends and breakdown of the products and services. The report provides key statistics on the market status, size, share, growth factors of the Cannabis Packaging. The study covers emerging player's data, including competitive landscape, sales, revenue and global market share of top manufacturers are: KushCo Holdings Inc., JL Clarks Inc., Kaya Packaging, Impak Corporation, Funksac LLC., Dixie Elixirs & Edibles, Pollen Gear LLC., among others

The cannabis packaging market was valued at USD 101.48 billion in 2020 and is expected to reach USD 297.51 billion by 2026, at a CAGR of 22.59% over the forecast period 2021 - 2026. 

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Industry News and Updates:

- July 2020 - Ventiv Design, a sustainable packaging solution provider, launched an anti-counterfeit and personalized packaging line for the cannabis industry. The New York City-based company develops distinctive packaging made of sustainably-sourced materials, such as a hemp paper-made Slider Box designed for vapes and pre-rolls.
- 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 collaboration 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.

Regional Analysis:

North America (United States, Canada and Mexico)
Europe (Germany, France, UK, Russia and Italy)
Asia-Pacific (China, Japan, Korea, India, Southeast Asia and Australia)
South America (Brazil, Argentina, Colombia)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)

North America Holds Significant Market Share

- The North American market for cannabis packaging is estimated to account for a significant market share. The market in this region is primarily driven by growth in the US and Canadian markets. Cannabis was legalized for both medical and recreational usage in Canada in 2018. Only 11 states and the District of Columbia have legalized cannabis for recreational usage in the United States. In total, 33 states in the United States have legalized cannabis.
- The Canadian government has restricted the amount of cannabis an individual can possess. The cannabis sold through the retail channel must be packed in containers with seals from the excise department. Due to this, the high volume of containers is required to package cannabis. Statistics Canada reported that the sales of cannabis reached CAD 104 million in July 2019. As the overall retailing process smoothens out, the demand for plastic and glass containers is expected to rise in the future.
- California's current regulations primarily allow that either the product must be in a child-resistant container or must be placed in a CR exit package. New regulations that took effect from January 2020 mandated that all the products must be in a certified child-resistant container. Moreover, the edible products must be in a child-resistant re-sealable package.
- Moreover, in January 2020, California's office of environmental health hazard assessment (OEHHA) approved listing "cannabis smoke" and THC as reproductive toxins under the proposition 65 and, in one year, the cannabis vendors in the state will need to label their products with a Prop 65 warning label.

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-Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years

-Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players

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