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Cannabis Packaging Market Size

Report ID: GMI5284
Published Date: Jun 2022
Report Format: PDF

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Cannabis Packaging Market Size

Cannabis Packaging Market size was valued at over USD 151 million in 2021 and is estimated to grow at a CAGR of above 11.7% from 2022 to 2028 owing to the rising demand for recreational & medical cannabis products in various forms such as flowers, leaves, concentrates, etc. for consumption. The industry size is expected to cross 60,722.5 tons by 2028 in terms of volume with an anticipated CAGR of 11.1% through the forecast period.

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The increasing acceptance and legalization of cannabis in several countries is further expected to drive market growth in the near future. The surging demand for cannabis in North America along with increasing usage of cannabis owing to the COVID-19 outburst across the globe is estimated to offer new growth opportunities for the cannabis packaging market.

The rapid legalization of cannabis consumption in the U.S. and the existing free environment in Canada are anticipated to drive the demand for cannabis packaging. 37 states in the U.S. allow the use of cannabis for medical purpose for the patients with a proper prescription. Growth in the North America cannabis market indicates that the region is expected to witness rapid development during the study market.

Cannabis Packaging Market Report Attributes
Report Attribute	Details
Base Year:	2021
Cannabis Packaging Market Size in 2021:	151 Million (USD)
Forecast Period:	2022 to 2028
Forecast Period 2022 to 2028 CAGR:	11.7%
2028 Value Projection:	356. 28 Million (USD)
Historical Data for:	2018 to 2021
No. of Pages:	250
Tables, Charts & Figures:	387
Segments covered:	Material, Type, Cannabis Form
Growth Drivers:	Increasing legalization of cannabis for medical purposes Rising usage of cannabis for recreational purposes in North America
Pitfalls & Challenges:	Stringent regulation related to cannabis packaging Stringent regulations on the usage of cannabis

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A major trend in the cannabis packaging sector is to tap into the rising consumption of cannabis for recreational purpose amongst the younger population. Packaging plays a major role among the emerging players to strengthen their brand image owing to the presence of large number of cannabis suppliers and high brand saturation amongst players.

Authors: Suraj Gujar, Sunita Singh

Frequently Asked Questions (FAQ) :

Cannabis packaging market share is slated to surpass at USD 356.3 million by 2028 and is anticipated to expand at a CAGR of 11.7% from 2022 to 2028 driven by the escalating demand for medical and recreational cannabis products.

The market size from plastic materials is poised to expand at a CAGR of 11.8% through 2028 considering their escalating usage in pouches, containers, bottles, closures, and other packaging products.

North America cannabis packaging market value is expected to grow at a rate of 11.9% through 2028 owing to the legalization of product usage for recreational purpose in various states including Florida, Michigan, California, Oregon, Illinois, Arizona, and other U.S. states.

Prominent companies in the cannabis packaging industry comprise Drug Plastics Group, Berry Global Inc., Impak Corporation, KushCo Holdings Inc., Green Rush Packaging, Pollen Gear, and others.