New York, NY, March 06, 2019 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Cannabis Packaging Market by Type (Rigid Packaging and Flexible Packaging) and Application (Medical, Recreational, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025”. According to the report, the global cannabis packaging market was valued at USD 12.63 billion in 2018 and is expected to reach USD 20.41 billion by 2025, at a CAGR of 7.1% between 2019 and 2025.
The packaging of cannabis is the most crucial process owing to various regulations imposed by the governments of different countries across the globe. The packaging of cannabis may differ based on its application area, such as medical and recreational. Generally, there are two types of packaging available—flexible and rigid. Moreover, manufacturers are also focusing on developing innovative protective packaging for cannabis.
Browse through 71 Tables & 33 Figures spread over 110 Pages and in-depth TOC on “Global Cannabis Packaging Market: Industry Size, Share, Trends, Growth, Applications, Analysis and Forecast, 2018–2025”.
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The surging demand for cannabis in various countries of North America is one of the key driving factors of the global cannabis packaging market. Many manufacturers are striving to introduce active packaging in the cannabis packaging market. This active packaging will provide better assistance for cannabis preservation, which includes preservation of THC levels by controlling oxygen and carbon dioxide levels, humidity, and thermodynamic cooling. Additionally, the active packaging system also improves the cannabis safety by emitting safe food oxidizers to lessen bacteria, mold, and other pathogens. Therefore, this is projected to further propel the cannabis packaging market over the forecast time period globally. However, the stringent regulation related to cannabis packaging may hamper the market growth of cannabis packaging in the future globally. Alternatively, the rising demand for cannabis for medical use and edible products is projected to offer new growth opportunities in the global cannabis packaging market in the upcoming years.
The global cannabis packaging market is classified based on type and application. The type segment of the cannabis packaging market includes rigid packaging and flexible packaging. The rigid packaging segment is expected to contribute significantly to the global cannabis packaging in the future, owing to the extensive use of vials and bottles for medical cannabis packaging. Based on application, the global cannabis packaging includes medical, recreational, and others. The medical segment is anticipated to grow substantially over the forecast time period, owing to the rising cannabis demand for medicinal purposes in government authorized medical centers in countries where cannabis is legalized. Besides this, recreational use of cannabis in the U.S., Canada, and South Africa are estimated to grow the cannabis packaging market growth in the upcoming years.
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In 2018, North America dominated the cannabis packaging market due to the emerging applications of cannabis in the medical industry. North America is expected to grow significantly over the forecast time period owing to the region’s flourishing pharmaceutical industry. Moreover, the rapid popularity of alternative ingestion techniques, such as weed-laced topical sprays and edible food items, are also propelling the cannabis market in North America, thereby, boosting the cannabis packaging market. Canada and the U.S. are expected to be the largest regional contributors due to the legalized cannabis in these countries. Moreover, various medical organizations, such as the American Public Health Association, American Nurses Association, National Multiple Sclerosis Society, American Medical Student Association, Epilepsy Foundation, and Leukemia and Lymphoma Society, have permitted the access of medical cannabis to patients with chronic conditions. Therefore, this is likely to further enhance the regional demand for cannabis packaging in the upcoming years.
The European cannabis packaging market is expected to grow sluggishly in the future, owing to strict government regulations related to cannabis. However, the increasing use of cannabis by the medical industry may fuel the region’s cannabis packaging market growth in the future.
Browse the full “Cannabis Packaging Market by Type (Rigid Packaging and Flexible Packaging) and Application (Medical, Recreational, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025” Report at https://www.zionmarketresearch.com/report/cannabis-packaging-market
The Asia Pacific cannabis packaging market is likely to grow gradually over the estimated timeframe, owing to the rising demand for cannabis in food, beverages, and skin creams. The legalization of cannabis for medical use in Southeast Asia may positively influence the cannabis packaging market. However, China is still against cannabis usage in the region, which may hamper the region’s market growth in the years ahead.
Latin America is projected to grow significantly in the cannabis packaging market, owing to the rising demand for cannabis in medical use but in small dosage and the increasing use of cannabis in South Africa for medical and recreational uses. The Middle East and Africa are anticipated to grow considerably over the estimated timeline, due to the legalized use of cannabis in the medical industry.
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Some key manufacturers of the global cannabis packaging market are Laguna Blends, Lexaria Bioscience, J.L. Clark, Elevate Packaging, Kush Bottles, Brandy Cannabis Creative, Dixie Elixirs & Edibles, McKernan Packaging Clearing House, Shatter Labels, LifeLoc Technologies, Maple Leaf Green World, and Kaya Cannabis, among others.
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This report segments the global cannabis packaging market into:
Global Cannabis Packaging Market: Type Analysis
- Rigid Packaging
- Flexible Packaging
Global Cannabis Packaging Market: Application Analysis
- Medical
- Recreational
- Others
Global Cannabis Packaging Market: Regional Analysis
- North America
- The U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
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