Dublin, October 11, 2021 (GLOBE NEWSWIRE) – The report “Global Cannabis Packaging Market – Growth, Trends, Impact Of COVID-19, And Forecasts (2021-2026)” has been added ResearchAndMarkets.com to offer.
For the global cannabis packaging market, a CAGR of 24.3% is expected in the forecast period from 2021 to 2026.
The cannabis packaging market is expected to see remarkable growth over the next few years due to the increasing demand for medical and recreational cannabis products for consumption. The increasing legalization of cannabis in various countries is likely to drive the future market.
Recreational cannabis use is expected to drive the market in the future as it has shown unprecedented growth in recent years. The Marijuana Business Daily reported that flowers are the most popular form of cannabis sold in the United States. The flower is packed in jars or flexible packaging bags.
The rapid legalization of cannabis use in the United States and the existing free environment in Canada are expected to fuel additional demand for cannabis packaging. 36 out of 50 states in the United States allow patients to use medicinal cannabis with an appropriate prescription. The growth of the cannabis market in the North American region suggests that the region is likely to see the rapid development of the market under study.
The packaging of cannabis is the most important process due to various regulations imposed by the governments of different countries around the world. Medical cannabis, for example, is available in various forms, such as flowers or concentrates, extracted in oils, extracts, or edibles. This medical cannabis packaging is growing and empowering various companies to offer holistic solutions to their manufacturers.
A notable trend in the cannabis packaging industry is to capitalize on the increasing consumption of recreational cannabis among the younger population. Due to the high level of brand saturation among cannabis players, packaging plays a major role for smaller and emerging players in strengthening the brand image.
The announcement of a nationwide lockdown during the COVID-19 outbreak led to increased demand for cannabis products. Several retail stores registered devastating traffic from consumers as the general idea of stocking up cannabis products for fear of scarcity took center stage. Relevant statistics point to the high growth in retail sales of cannabis products in March 2020, creating additional demand for cannabis packaging products.
The focus on sustainability, regulations and branding has had a major impact on the packaging of cannabis, facilitating the shift from traditional methods that relied on manual labor for processing and packaging to more complex methods using automated machines. The integration of automation is slowly gaining traction in the cannabis packaging industry as industry players realize the benefits of automating packaging processes. This is said to gain popularity with the standardization of the legal landscape of cannabis.
The global cannabis packaging market is a highly consolidated market with a few top players dominating a significant portion of the market. Some of the dominant players in the market include KushCo Holdings Inc., JL Clarks Inc., Kaya Packaging, Impak Corporation, Funksac LLC., Dixie Elixirs & Edibles, Pollen Gear LLC.
Some of the recent developments in the market are:
- Sep 2021 – Green Rush Packaging announced the availability of Grip ‘N Lock cannabis boxes. These boxes are available in small and large sizes as standard and allow the customer to customize them. In addition, Green Rush Packaging’s cannabis storage boxes are Grip ‘N Lock 16 CFR 1700 certified. The gloss box surfaces also give the packaging water resistance and prevent the box’s print designs from fading.
- Apr. 2021 – Cannaline has announced its new C-Class Jars. These jars are shorter and wider than the company’s previous models, making them easier to stack and store. These C-class jars come in all major sizes, from 2 oz to 5 oz., And customers can purchase them in matte black, matte white, and clear jars with lid options in matte or glossy black and matte or glossy white lids.
Key topics covered:
2 RESEARCH METHOD
4 MARKET INSIGHTS
4.1 Market overview
4.2 Industry Attractiveness – Porter’s Five Forces Analysis
4.3 Analysis of the industry’s value chain
4.4 Assessing the impact of COVID-19 on the market
5 MARKET DYNAMICS
5.1 Market drivers
5.1.1 Growing demand for medicinal and recreational cannabis products
5.1.2 Legalization of cannabis in various North American countries
5.2 Market Restrictions
5.2.1 Strict regulation regarding cannabis packaging
6 CANNABIS APPLICATIONS (QUALITATIVE ANALYSIS)
6.2 Free time
7 MARKET SEGMENTATION
7.1 By type
7.1.1 Rigid packaging
7.1.2 Flexible packaging
7.2 Through packaging materials
7.2.4 Cardboard container
7.3 By geography
7.3.1 North America
7.3.3 Latin America
7.3.4 Rest of the world
8 MOST IMPORTANT VENDOR PROFILES
8.1 KushCo Holdings Inc.
8.2 JL Clarks Inc.
8.3 So packaging
8.4 Packaging solutions for cannaline cannabis
8.6 Diamond packaging
8.7 Greenlane Holdings Inc.
8.8 N2 Packaging Systems LLC
8.9 Green Rush packaging
8.10 Elevate Packaging Inc.
8.11 Berry Global Inc.
Please visit https://www.researchandmarkets.com/r/c4oado for more information on this report