The global cannabis packaging market size is expected to reach USD 23.83 Billion in 2030 and register a revenue CAGR of 25.2% over the forecast period, according to a latest report by Reports and Data. Legalization of marijuana and rising demand for medical and recreational cannabis products is expected to drive market revenue growth during the forecast period. Increasing global awareness about the medicinal properties of cannabis along with other utilities has led to legalization and decriminalization of cannabis in various countries. Colorado and Washington's state became the first states in North America to legalize marijuana for recreational purposes. Similarly, possession and consumption of marijuana is legal in various countries in Europe.
This has led to introduction of number of new cannabis products which includes not only medicinal products but also cannabis products for recreational purposes. Packaging keeps the product fresh and provides valuable information about the product, along with branding opportunities. This is expected to increase the demand for cannabis packaging and thereby contribute to the revenue growth of the market.
However, stringent standards for packaging and regulation are a significant factor hampering revenue growth of the market. In addition, the lack of uniform standards and regulation is another significant factor hindering the growth of the market globally.
Get a sample of the report @ https://www.reportsanddata.com/download-free-sample/1035
Companies profiled in the global market report include KushCo Holdings, Inc., Cannabis Science Inc., Calyx Containers, JL Clark Inc., Maple Leaf Green World Inc., Kaya Cannabis, Lexaria Bioscience Corp, Berry Global Inc., Cannaline Cannabis Packaging Solutions, and Green Rush Packaging.
Some Key Highlights in the Report
- Flexible segment is expected to account for largest revenue share in global cannabis packaging market between 2021 and 2030, owing to legalization of marijuana and increase in number of start-ups selling various well-packaged cannabis products.
- Recreational segment is expected to register significantly steady revenue growth over the forecast period due to rising demand for products such as cannabis-infused beer which produces feelings of relaxation and lethargy rather than intoxication caused by regular alcoholic beverages.
- Market in North America is expected to register a higher revenue growth rate in the cannabis-based beverages market over the forecast period compared to other regional markets, due to high presence of cannabis cultivators producing various strains of cannabis for both medical and recreational purposes.
- In December 2021, KushCo Holdings, Inc. merged with Greenlane Holdings Inc. This will facilitate an increase in sales to the company's top 25 customers that include leading multi-state operators, licensed producers, and brands and will eventually become the leading global platform for the development and distribution of premium cannabis accessories and lifestyle products.
To know more about the report @ https://www.reportsanddata.com/report-detail/cannabis-packaging-market
For the purpose of this report, Reports and Data has segmented global cannabis packaging market based on type, material, application, and region:
Type Outlook (Revenue, USD Billion; 2018-2030)
- Rigid,
- Semi Rigid
- Flexible
Material Outlook (Revenue, USD Billion; 2018-2030)
- Metals
- Plastics
- Glass
- Cardboard Containers
- Others
Application Outlook (Revenue, USD Billion; 2018-2030)
- Medical
- Recreational
Regional Outlook (Revenue, USD Billion; 2018-2030)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Sweden
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East Africa
- Saudi Arabia
- UAE
- South Africa
- Israel
- Rest of MEA
Request a customization of the report @ https://www.reportsanddata.com/request-customization-form/1035
Thank you for reading our report. We also offer report customization as per client interest. Kindly connect to know more about the customization plan and avail the best suited report.
About Reports and Data
Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyse consumer behaviour shifts across demographics, across industries, and help clients to make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Products, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
Contact:
John W, Head of Business Development
Reports And Data | Web: www.reportsanddata.com
Direct Line: +1-212-710-1370
E-mail: sales@reportsanddata.com
LinkedIn | Twitter | Blogs
