Medical Marijuana Packaging Market to Witness Steady Growth through 2024
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The key packaging modes available in the market include,
Medical marijuana packaging market is highly reliant on government regulations, as extraction, sale, and distribution not only varies from country to country, but also across states. Due to ever-evolving regulations on marijuana, the market is prone to fluctuations. The packaging manufacturing companies needs to make sure that the packaging is child-proof, opaque, unattractive, re-sealable, properly labelled, tamper-proof and in accordance with the state laws. The market can be segmented on the basis of product type into,
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The global cannabis packaging industry has undergone significant growth and various companies have recently launched recyclable packaging such as metal cans, compostable cellophane bags, and compostable pouches. Product marketing through packaging is a focus area for packaging companies, but meeting local and federal laws is critical for success. The medical marijuana packaging market follows different strategies; for example, companies which are based in USA have an advantage to give custom based products in short time, whereas companies based in Asia Pacific can deliver products at cut-rate prices.
Medical Marijuana Packaging Market: Region-wise Analysis
Region-wise, the medical marijuana market can be segmented into five major regions: North America, Europe, Asia-Pacific, Latin America, and Middle East-Africa (MEA). North America is a leading market for medical marijuana, whereas Europe and Asia-Pacific are expected to witness robust growth. The Asia Pacific medical marijuana packaging market is anticipated to witness steady growth during the forecast period, owing to growing use of marijuana in treating various mental illnesses.
Sensing the opportunity that this rapidly growing market offers, several packaging companies have made a foray into the medical marijuana packaging landscape. Some of the key companies operating in the marijuana packaging market are Cannaline, Inkable Label, Second Nature Agency, The Green Cross collective, Elevate Packaging, Blazin Bottles, Honest Marijuana Co., Elevate Packaging, Great Pacific Packaging, Inc., Brandsy Cannabis Creative, Dixie Elixirs & Edibles, McKernan Packaging Clearing House, Shatter Labels, Shenzhen (HK) Alfinity Technology Co., Ltd., Kush Bottles, CannaPack, High Supply, Marijuana Packaging, and Collective Supply. Currently, a significant percentage of small-scale industries are actively involved in medical marijuana packaging market, considering the overall state of the market and the expected growth.
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