The latest report by IMARC, titled “Cannabis Packaging Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, finds that the global cannabis packaging market size reached US$ 1247.6 Million in 2022. Cannabis refers to a psychoactive drug obtained from the Cannabis Sativa plant, which is used for medical and recreational purposes. numerous can be consumed in numerous forms, such as tinctures, capsules, dermal sprays, dermal patches, edibles, and dermal sprays. It aids in weight loss, muscle spasms, curing chronic pain, diabetes, nausea, depression, inflammatory bowel diseases (IBD), attention deficit hyperactivity disorder (ADHD), glaucoma, and seizures. Cannabis packaging plays a crucial role in preventing damage while handling, transporting, and storing cannabis in bottles, jars, pouches, tubes, bags, and metal tins. In recent years, the demand for cannabis packaging has been escalating due to the legalization of cannabis in numerous nations to increase job growth and investment opportunities.
Global Cannabis Packaging Market Trends:
One of the primary factors driving the market is the extensive employment of cannabis in the healthcare sector. Additionally, its utilization for the treatment of numerous medical conditions, including arthritis, cancer, migraines, Alzheimer, epilepsy, post-traumatic stress disorder (PTSD), Parkinson’s, and Tourette’s is creating a positive market outlook. Other than this, cannabis is also used in the food and beverage (F&B) industry for the purpose of manufacturing sparkling water, nutritional supplements, and confectionary and bakery products. Along with this, the rising usage of social media has led to the prevalence of stress among the masses, which is increasing the demand for cannabis packaging. Furthermore, stringent regulations imposed by the governments of numerous nations on the packaging of cannabis are enabling key players to provide child-resistant, tamper-evident, re-sealable, and opaque packaging. Moreover, the introduction of recyclable packaging variants, including biodegradable cellophane bags, compostable pouches, and metal cans, is another major growth-inducing factor. Looking forward, IMARC Group expects the market value to reach US$ 4,980.6 Million by 2028, expanding at a CAGR of 25.76% during the forecast period (2023-2028).
- Based on the type, the market has been divided into rigid, semi-rigid, and flexible.
- On the basis of the packaging material, the market has been segmented into metal, plastic, cardboard containers, glass, and others.
- Based on the application, the market has been categorized into medical use, recreational use, and others.
- Region-wise, the market has been classified into North America, Europe, and others.
- The competitive landscape of the market has also been analyzed, with some of the key players being Berry Global Inc., Cannabis Science Inc., Cannaline Cannabis Packaging Solutions, Diamond Packaging, Dymapak, Elevate Packaging Inc., Green Rush Packaging, Greenlane Holdings Inc., Kaya packaging, KushCo Holdings Inc., Maple Leaf Green World Inc., and N2 Packaging Systems LLC.
|Base Year of the Analysis
||Type, Packaging Material, Application, Region
||North America, Europe, Others
||Berry Global Inc., Cannabis Science Inc., Cannaline Cannabis Packaging Solutions, Diamond Packaging, Dymapak, Elevate Packaging Inc., Green Rush Packaging, Greenlane Holdings Inc., Kaya Packaging, KushCo Holdings Inc., Maple Leaf Green World Inc. and N2 Packaging Systems LLC.
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