Cannabis packaging market expected to reach $ 5.20 billion by 2026, according to reports and data
NEW YORK, NY, USA, September 21, 2021 /EINPresswire.com/ – The global cannabis packaging market is expected to reach $ 5.20 billion by 2026, according to a new report from Reports and Data. Eco-Friendly Packaging An important emerging trend is the pressure for weed-based products to be packaged in recyclable, biodegradable and compostable materials. As more states legalize medical marijuana, the weed industry around the world has grown by over 310% in the past four years. According to the Association for Packaging and Processing Technologies, marijuana has been legalized to one level or another in more than 28 states and is pending re-legalization in more than 13 more. This exponential growth, coupled with an attribute of small self-funded organizations, has helped legitimize its use in the eyes of many. By 2020, the industry is expected to reach $ 24.5 billion in the United States alone, including $ 11.2 billion in recreational products alone. While 89% of customers preferred flowers in 2017, by 2020, only 61% of customers prefer flowers, favoring concentrated and processed cannabis formats instead.
The companies considered and profiled for this market are:
Kush Bottles, Cannabis Science Inc., Medical Marijuana Corp, JL Clark, Maple Leaf Green World, JLClark, KAYA CANNABIS, Lexaria Bioscience and Cannaline. In March 2018, Cannabis Science Inc. acquired Bottle It Inc. State-of-the-art bottle manufacturing facility
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Other key findings from the report suggest
The weed packaging market in Uruguay is expected to grow at a significant rate of 18.8% during the forecast period. Its consumption in Uruguay has increased since it was introduced to the public eye. In 2011, 5.3% of the population admitted to having consumed it. The prevalence of living had quadrupled in 2016, with 22.1% of Uruguayans acknowledging some consumption.
The major challenges for weed control players to enter the market are cost competitiveness. Reports indicate that the majority of retailers to survive the government fixed price of $ 1.50 would prefer inexpensive packaging, even on high-end products. The rigid segment of the material processed in Uruguay was valued at 1.6 billion in 2026.
The US region accounted for a significant share and is expected to grow at a CAGR of 18% during the forecast period. As more states legalize medical marijuana, the weed industry around the world has grown by over 310% in the past four years. According to the Association for Packaging and Processing Technologies, marijuana has been legalized to one level or another in more than 28 states and is pending re-legalization in more than 13 more. This exponential growth, coupled with an attribute of small self-funded organizations, has helped legitimize its use in the eyes of many.
According to PMMI, the inconsistent legal status between state and federal laws is a pervasive challenge faced by manufacturers. Other issues include separate RFID tags for the factory and packaged product, the resistance of financial institutions to work with businesses, and strict FDA regulations. The packaging of weed products is highly regulated with requirements for child resistant and resalable lids, tamper evidence and opacity. Sizes differ for different forms of cannabis as well, with flower in glass jars and tubes, concentrates in heat-resistant, borosilicate, glass or polystyrene containers and edibles in anti-dust bags. resalable odors.
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For this study, reports and data segmented the cannabis packaging market on the basis of packaging type, packaging material, applications and region:
Package Type (Revenue, USD Million; 2016-2026)
Break the containers
Packaging Material (Revenue, USD Million; 2016-2026)
Applications (Revenue, USD Million; 2016-2026)
Regional Outlook (Revenue, USD Million; 2016-2026)
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Chapter 1. Market synopsis
1.1. Market definition
1.2. Scope and premise of the research
1.4. Market estimation technique
Chapter 2. Executive summary
2.1. Summary overview, 2018-2026
Chapter 3. Indicative measures
Chapter 4. Cannabis Packaging Market Segmentation and Impact Analysis
4.1. Cannabis packaging segmentation analysis
4.2. Industrial outlook
4.3. Regulatory framework
4.4. Analysis of the impact of the cannabis packaging market
4.4.1. Market Driver Analysis
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