Cannabis, a psychoactive substance derived from the Cannabis plant, is sometimes referred to as marijuana and other names. The cannabis plant, which is indigenous to Central and South Asia, has been used for ages in traditional remedies and as a medication for both recreational and entheogenic uses.
Cannabis produces a variety of psychological and physiological effects, including euphoria, altered states of consciousness and perception of time, trouble focusing, reduced short-term memory, poor balance and fine psychomotor control, relaxation, and an increase in appetite.
Cannabis Packaging Market was worth USD 2.60 billion in 2021 and is poised to amplify at a CAGR of 25.2% over 2022-2030, thereby amassing USD 23.83 billion by end of the assessment timeline.
During the forecast period, factors including the legalisation of marijuana, increasing demand for medical and recreational cannabis products, and an increase in the number of new cannabis product start-ups are anticipated to propel market revenue growth.
Cannabis has become legal in many nations due to growing public understanding of its many benefits. Governments in many nations have decriminalised and legalised cannabis cultivation and possession, which is anticipated to enhance consumer demand for cannabis and cannabis-based goods and boost market income.
Growing consumer demand for cannabis products for both medical and recreational purposes is a major driver of the market's revenue growth over the forecast period. The legalisation of marijuana has increased demand for a variety of cannabis products, which calls for suitable packaging to extend shelf life. During the projected period, this is a factor that is anticipated to assist the market's revenue growth.
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Segmentation Analysis of Global Cannabis Packaging market:
Based on type
- Rigid
- Semi rigid
- Flexible
- Other
Based on packaging material
- Metal
- Plastic
- Cardboards containers
- Glass
- Others
Based on application
- Medical use
- Recreational use
- Others
Competitive Landscape:
The Key players in the Global Cannabis Packaging Market are 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.
Key Questions Asked:
- What is the growth rate of this Market?
- What are the primary growth determinants of this market?
- Which are the major regions constituting the geographical landscape of this Market?
- Which are the prominent companies operating in This Market?
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