Global Cannabis Packaging Market
Global Cannabis Packaging Market Report Description:
Global cannabis packaging market report gives comprehensive outlook on cannabis packaging across the globe with special emphasis on key regions such as North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. The report on global cannabis packaging market gives historical, current, and future market sizes (US$ Mn) on the basis of type, material, application, and region. This report studies global cannabis packaging market dynamics elaborately to identify the current trends & drivers, future opportunities and possible challenges to the key stakeholders operating in the market. In addition, global cannabis packaging market report includes human demographics; regulatory scenario, and competition analysis with vividly illustrated the competition dashboard to assess the market competition. Moreover, PBI analyzed global market to better equip clients with possible investment opportunities across the regions (regional Investment Hot-Spots) and market unmet needs (Product Opportunities). Key stakeholders of the global market report include suppliers, manufacturers, marketers, policy makers, and healthcare service providers engaged in global cannabis packaging products.
Global Cannabis Packaging Market:
The global cannabis packaging market is expected to be valued at US$ 1,382.1 Mn in 2019 and growing at a CAGR of 23.7% over the forecast period to reach US $ Mn by 2026 owing to legalization of medical marijuana and green packaging plays significant role in increasing weed products to be packaged in recyclable, bio-degradable, and compostable materials, drives the growth of the market over the forecast years. It is noticed that the market has grown by 310% over the past four years soon after the legalization of marijuana in medical sector. As per the Association for Packaging and Processing Technologies, marijuana has been legalized in 28 states and is pending for approval or legalization in 13+ others. In the coming years, the market is anticipated to grow with significant growth rate and recreational products are anticipated to register notable market share in the future years. However, lack of legal rights for marijuana in most of the countries and government involvement in price fixation for packaging with fixed price for premium products restrains the growth of the market.
Legalization of marijuana in number of countries boosts the growth of the market
The United States accounted for noteworthy share and is anticipated to grow at a CAGR of 21% throughout the forecasted period. Legalization of marijuana in more number of states, the weed industry around the globe has grown-up by 310% in the last four years. As per the Association for Packaging and Processing Technologies, marijuana has been legalized in 28 states and is pending for approval or legalization in 13+ others. Legalization of marijuana in various countries would fuel the growth of the market over the forecast years.
North America is leading the global market
North America is leading the global market and is expected to grow with significant CAGR owing to legalization of marijuana in both the United States and Canada. Consumption of weed in Uruguay has been increased significantly since that has been introduced to the eyes of public scrutiny. Asia Pacific and Europe are anticipated to grow with significant CAGR over the forecast years. Latin America is estimated to grow with notable CAGR over the forecasted period.
Key player’s profiles in the global cannabis packaging market include:
- Kush Bottles,
- Cannabis Science Inc.
- Medical Marijuana Corp
- JL Clark
- KAYA CANNABIS
- Lexaria Bioscience
- Maple Leaf Green World
- Dixie Elixirs & Edibles
- McKernan Packaging Clearing House
Key Findings of the Report:
- Global cannabis packaging market expanding at significant CAGR over 2018 to 2025 owing to legalization of marijuana in number of countries and rising consumption of recreational marijuana and for medical purpose.
- Based on region, North America accounted for larger market revenue share in 2018 and projected gain market revenue share over the forecast period
- Players focusing on innovation of newer products and collaboration strategies to retain market position in global market
- Rigid Packaging
- Semi-Rigid Packaging
- Flexible Packaging)
- Rest of Europe
- Australia & New Zealand
- ASEAN (Includes Indonesia, Thailand, Vietnam, Philippines, Malaysia, and Others)
- South Korea
- Rest of Asia-Pacific
- Rest of Latin America
Middle East and Africa (MEA)
- Gulf Cooperation Council (GCC) Countries
- South Africa
- Rest of MEA
Key Features of the Report:
- The report provides granular level information about the market size, regional market share, historic market (2015-2019) and forecast (2020-2026)
- The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and their key strategies
- The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
- The report tracks recent innovations, key developments and startup’s details that are actively working in the market
- The report provides plethora of information about market entry strategies, regulatory framework and reimbursement scenario
- The report analyses the impact of socio-political environment through PESTLE Analysis and competition through Porter’s Five Force Analysis in addition to recent technology advancements and innovations in the market