New York – A detailed estimate and forecast of the global market by cannabis form are provided as dry cannabis, concentrates, edibles, and others.The report also examines and quantifies the cannabis packaging market based on regions.
Further, the report analyzes the industry structure, market dynamics, and supply chain analysis of the cannabis packaging industry.
The report estimates the global market for cannabis packaging in 2021 and provides projections for the expected market size through 2027.Using 2021 as the base year, the report provides estimated market data for the forecast period of 2022-2027.
Revenue forecasts for this period are segmented based on material, cannabis form, and geography. Market values have been estimated based on the total revenue of cannabis packaging solution providers.
– 17 data tables and 6 additional tables
– An overview of the global market outlook for cannabis packaging within the industry
– Analyses of the global market trends, with historic sales data for 2021, estimates for 2022, and projections of compound annual growth rates (CAGRs) through 2027
– Estimation of the actual market size and revenue forecast for global cannabis packaging market in USD millions, and corresponding market share analysis based on material, product, cannabis form, and region
– Discussion of current and future market potential for cannabis packaging industry, along with a supply chain analysis, government regulations, and other forces relevant to this market
– Regional market outlook with select sub-regional breakdowns for countries with promising market demands for cannabis packaging materials and technologies
– Emphasis on the trends and developments in the cannabis industry packaging landscape, global competitive landscape analysis, and innovations within the market ecosystem
– Company profiles of major players within the industry, including Cannaline Cannabis Packaging Solutions, Diamond Packaging, Drug Plastics Group, Dymapak and KushCo Holdings
Cannabis is now broadly recognized and used for its medical benefits.People consume seed oil, flowers, leaves, and other parts of the cannabis plant for medicinal and recreational purposes.
Rising demand for medical cannabis in markets where cannabis consumption is legal is a major factor driving the cannabis packaging market growth. In the U.S., cannabis is used to produce various medications; for instance, in 2018, the Food and Drug Administration (FDA) approved a medication derived from cannabis called Epidiolex. This is a purified form of CBD with zero THC content used to treat severe and rare types of epilepsy.
The global market for cannabis packaging was estimated to be $REDACTED in 2021.It is projected the cannabis packaging market will grow at a compound annual growth rate (CAGR) of REDACTED% and is forecast to reach $REDACTED through 2027.
Decriminalization and legalization of cannabis use for medical and recreational purposes are expected to further drive market growth. In the U.S., around REDACTED% of all states allow the consumption of cannabis for medical purposes and many have decriminalized it for recreational use. Thirty-seven states in the U.S. allow the use of cannabis for medical purposes for patients with a proper prescription. The increasing cultivation and commercialization of cannabis-based products has enhanced the demand for cannabis packaging solutions. The existing free environment in Canada for cannabis consumption is also estimated to boost the demand for cannabis packaging.
Furthermore, regulatory and consumer concerns regarding increasing packaging waste coupled with fast-moving cannabis producers, suppliers, and retailers focused on improving the sustainability of packaging products are expected to enhance market growth.
In this report, the global market of cannabis packaging has been segmented based on material, cannabis form, and geography.Based on product, the cannabis packaging market has been categorized into plastic, paper and paperboard, glass, metal, and others.
Plastic packaging currently dominates the market and was valued at $REDACTED in 2021. It is estimated that the cannabis packaging market for plastic material will grow at a CAGR of REDACTED% and is forecast to reach $REDACTED through 2027.
Based on cannabis form, the cannabis packaging market has been segmented into dry cannabis, concentrates, edibles, and others.Dry cannabis accounted for the major share of the market.
(This information is primarily sourced from Reportlinker. Highly Capitalized has neither approved nor disapproved the contents of this news release. Read our Disclaimer here).