According to the latest industry analysis report by Reports and Data, the global Cannabis Packaging Market is expected to reach a robust size during the forecast period. The report elaborates on the key market dynamics including drivers, restraints, opportunities, supply & demand ratios, upcoming market trends, technological innovations, and value chain analysis. Advanced analytical methods such as SWOT analysis, Porter’s Five Forces analysis, and investment analysis have been used by the authors to explain the Cannabis Packaging industry’s highly competitive scenario and development scope over the forecast period on a deeper level.
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.
In this report, the global packaging industry is segmented on the basis of product type, application, technology, and region. The authors have also implemented many primary and secondary research methodologies to derive vital data & information about the key regional markets of the global packaging industry including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. The report offers key insights into the factors positively influencing the revenue growth of each regional market and provides information about the most lucrative investment opportunities for all stakeholders, investors, and clients in these markets. Furthermore, the report elucidates the intensely competitive scenario of the Cannabis Packaging industry and highlights the key strategic developments taking place in the industry, such as mergers & acquisitions, joint ventures, corporate deals, and partnerships & collaborations.
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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.
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Revenue growth of the global packaging industry is primarily attributed to rise in global population, increasing demand for consumer goods worldwide, and increasing adoption of eco-friendly and sustainable packaging solutions across various industry verticals including food & beverage, pharmaceutical, retail & e-commerce, and electronics industries. Increasing imports & exports of goods worldwide, rapid development of the transportation & logistics infrastructure, technological advances in cold chain logistics solutions, and development of advanced and environmentally sustainable raw materials for packaging to reduce carbon footprint are other major factors contributing to the global packaging industry revenue growth.
Key Players:
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.
Regional Outlook (Revenue, USD Billion; 2018-2030)
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
Market Segmentation:
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
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Thank you for reading this article. You can also get chapter-wise sections or region-wise report coverage for North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
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