The Global Cannabis Packaging Market is expected to reach USD 5.20 billion by 2026, according to a new report by Reports and Data. Green packing a significant trend arising is the push for weed products to be packaged in materials that are recyclable, biodegradable, and compostable. As more states legalize medical marijuana, the weed industry across the globe has grown more than 310% in the past four years. As per the Association for Packaging and Processing Technologies, marijuana has been legalized at some or the other level in 28+ states and is pending further legalization in 13+ others. This exponential growth, along with an attribute of self-funded small organizations, has helped legitimize its use in the eyes of many. By 2020, it is anticipated the industry is expected to reach $24.5 billion alone in the U.S., with $11.2 billion alone for recreational products. While 89% of customers preferred flowers in 2017, by 2020 only 61% of customers prefer flowers, instead favoring concentrated, processed weed formats.
The report encompasses the key dimensions of the market including major regional markets, product and technology landscape, application areas, end-use verticals, and competitive environment. Other key elements of the market included in the report are market size, revenue growth rate, demand & supply graphs, production & consumption patterns, driving & restraining factors, latest & upcoming trends, potential threats & challenges, and various econometric aspects.
The companies considered and profiled for this market are Kush Bottles, Cannabis Science Inc., Medical Marijuana Corp, JL Clark, Maple Leaf Green World, J.L.Clark, KAYA CANNABIS, Lexaria Bioscience, and Cannaline.
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For this study, Reports and Data have segmented the Cannabis Packaging Market on the basis of Packaging Type, Packaging Material, Applications, and Region:
Packaging Type (Revenue, USD Million; 2016–2026)
- Plastic Tubes
- Box Inserts
- Shatter Containers
Packaging Material (Revenue, USD Million; 2016–2026)
- Hinge-Top Containers
- Cardboard Containers
Applications (Revenue, USD Million; 2016–2026)
- Medical Use
- Recreational Use
Regional Outlook of the Global Cannabis Packaging Market:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
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Aims of the study
- To curate a concise report of the market, highlighting the key vendors and significant changes observed in the market
- Examine the existing and emergent trends and promising technological innovations in the market
- Assessment of market values, modeled values, and international trade values, to deduce the market volume
- Offered research-backed insights for the parent market, cost analysis, and prevailing industry trends
- Calculate capacity utilization rate
Key Points of the Competitive Outlook:
- The latest Cannabis Packaging industry analysis report highlights the top companies operating in the industry and carefully assesses their current market standing, revenue growth trajectory, and product portfolios.
- The report highlights the company profiles of these industry players and discusses their pricing models, consumer demands, and gross profit margins.
- Furthermore, the report offers vital information on the product portfolios, new product additions, strategic developments, and annual revenues of these companies.
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