According to the latest report by IMARC Group, titled “Cannabis Packaging Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027.” the global cannabis packaging market reached a value of US$ 982.4 Million in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 3949.6 Million by 2027, exhibiting a CAGR of 25.40% during 2022-2027. Cannabis represents a psychoactive drug derived from the cannabis sativa plant that is utilized for medical as well as recreational purposes. It can be taken in numerous forms, such as tinctures, capsules, dermal patches, dermal sprays, edibles, etc. Cannabis aids in weight loss and treating muscle spasms, chronic pain, inflammatory bowel diseases (IBD), nausea, diabetes, depression, attention deficit hyperactivity disorder (ADHD), glaucoma, seizures, etc. It is usually packed in bottles, jars, bags, pouches, tubes, metal tins, etc., to prevent damage while handling, transporting, and storing.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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The rising prevalence of stress among individuals, on account of their poor sleeping habits and hectic lifestyles, is primarily driving the cannabis packaging market. Additionally, the implementation of several stringent regulations by government bodies is propelling the leading manufacturers to develop tamper-evident, child-resistant, re-sealable, and opaque packaging for edible cannabis products, which is further catalyzing the market growth. Besides this, the escalating demand for cannabis in the production of nutritional supplements, sparkling water, confectionery and bakery items, etc., is acting as another significant growth-inducing factor. Moreover, the increasing adoption of automation in cannabis packaging to focus on sustainability and branding is also positively influencing the global market. Apart from this, the introduction of recyclable variants, including compostable pouches, biodegradable cellophane bags, metal cans, etc., is anticipated to fuel the cannabis packaging market over the forecasted period.
Competitive Landscape with Key Players:
- Berry Global Inc.
- Cannabis Science Inc.
- Cannaline Cannabis Packaging Solutions
- Diamond Packaging
- Elevate Packaging Inc.
- Green Rush Packaging
- Greenlane Holdings Inc.
- Kaya Packaging
- KushCo Holdings Inc.
- Maple Leaf Green World Inc.
- N2 Packaging Systems LLC.
Key Market Segmentation:
Breakup by Type:
- Semi Rigid
Breakup by Packaging Material:
- Cardboard Containers
Breakup by Application:
- Medical Use
- Recreational Use
Breakup by Region:
- North America
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Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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