Summary
The global Medical Marijuana Packaging Market is expected to witness a CAGR of xx% over the forecast period 2020-2026 and is expected to reach US$ xx million in 2026, from US$ xx million in 2019.
Medical marijuana, or medicinal marijuana, is the dried leaves and stems of cannabis plants that are recommended by doctors to their patients as a remedy for certain diseases and illnesses. The most common disease treated by medical marijuana is glaucoma, a condition in which the eye has damage inside it; in this condition, the optic nerve must be preserved. Medical marijuana is highly effective in reducing the pressure in the eye by constricting the blood vessels and allowing the veins to heal. It also relieves pain and control nausea, reducing the need for nausea pills. Many other diseases and ailments can be reduced or eliminated with the use of medical marijuana. Medical marijuana packaging refers to the packaging of marijuana and there are different packaging materials available in the market this includes metal cans, child-proof, compostable cellophane bags, and compostable pouches.
Expanding medical marijuana packaging business due to the increasing use of medical marijuana to treat various ailments is driving the growth of the market. The growing launch of metal cans, child-proof, compostable cellophane bags, and compostable pouches for medical marijuana is again fueling the growth of the Medical Marijuana Packaging market. For instance, in December 2020, Diamond Packaging has introduced new Diamond Lockbox folding cartons, an upscale, certified child-resistant (CR) packaging solution for medical or recreational marijuana products. Diamond Lockbox folding cartons combine beauty with strength.
North America is projected to gain significant growth over the forecast period and this is attributed to the high consumption of medical marijuana in the region. According to AmericanMarijuana.org., by 2022, marijuana retail sales are expected to grow substantially, amounting to 7.3 billion U.S. dollars, up from the estimated 6.1 billion U.S. dollars in 2020. Moreover, Michigan had the highest number of medical cannabis production licenses in the U.S. as of 2018, with 215 production licenses issued at the time.
Key Developments:
- In July 2002, Mactac has launched a new range of pressure-sensitive papers and films developed especially for the needs of both consumers as well as medical cannabis segments.
- In December 2020, Medical Marijuana, Inc. the parent company of Kannaway, has launched a rebranding of its subsidiary HempMeds. This change comes as part of the company’s recent shift in consumer strategy and executive leadership
- In February 2020, N2 Packaging Systems, LLC has announced the launch of new paperboard can with child-resistant sustainable packaging for cannabis and cannabis industry products
The Medical Marijuana Packaging Market report highlights product development and growth strategies such as merger and acquisition adopted by market players along with SWOT Analysis, PEST and Porter’s Five Forces analyses of the Medical Marijuana Packaging Market, which highlight the strengths, weaknesses, opportunities, and commination of key companies. Moreover, the report offers two distinct market forecasts, one from the perspective of the producer and another from that of the consumer.
The various contributors involved in the value chain of the product include manufacturers, suppliers, distributors, intermediaries, and customers.
The Key Manufacturers covered in this Report:-
- Cannaline
- Inkable Label
- Second Nature Agency
- The Green Cross collective
- Elevate Packaging
- Blazin Bottles
- Honest Marijuana Co.
- Elevate Packaging
- Great Pacific Packaging, Inc.
- Brandsy Cannabis Creative
- Dixie Elixirs & Edibles
- McKernan Packaging Clearing House
By the Product Type, the market is primarily segmented into:
- Flower packaging
- Concentrate packaging
- Edible packaging
By Applications, the market is segmented into:
- Online Medical Marijuana Market
- Medical Marijuana Dispensaries
The Report covers the following Regions:
- North America
- United States
- Canada
- Mexico
- Asia Pacific
- China
- Japan
- South Korea
- India
- Australia
- Indonesia
- Thailand
- Malaysia
- Philippines
- Vietnam
- Europe
- Germany
- France
- UK
- Italy
- Russia
- Central & South America
- Middle East & Africa
- Turkey
- GCC Countries
- Egypt
- South Africa
Objective of the Medical Marijuana Packaging Market Report:
- To assess the size of the market by value and volume
- Analyze the Medical Marijuana Packaging Market in terms of regions and major countries
- Highlight recent developments and trends in the market
- Offer perceptive data regarding major market players in terms of key developments, strategies, and product portfolio
- Determine share of the Medical Marijuana Packaging Market in terms of various segments such as by product type, application, and end-user
- Offer accurate projection of the market for the forecast period using state-of –the-art tools and the current primary and secondary research approaches
- Discuss major factors that impact growth of the Medical Marijuana Packaging Market
The Medical Marijuana Packaging Market engages the readers with all pivotal approaches to understand their position in the industry based on revenue or sales growth. The report efficiently evaluates the Medical Marijuana Packaging Market from various dimensions to deliver an end-product that is informative, elaborate, and accurate and includes detailed market segmentation, regional analysis, and competition in the market. The information in the report is backed by annual company reports, financial reports, press releases, regulatory databases, government documents, and statistical databases.
For the data information by region, company, type and application, 2019 is considered as the base year. Whenever data information was unavailable for the base year, the prior year has been considered.
Key Stakeholders:
- Material suppliers/wholesalers
- Market Distributors/traders
- Regulatory bodies
- Research organizations, and consulting firms
- Commercial research & developments (R&D)
- Trade associations and industry bodies
- Importers and exporters
- End-use industries
Available Customizations:
Custom research is one of the most crucial components of the business strategy that helps an organization gain insight into specific business sector, aligned with its specific area of interest. Thus, SMI offers more accurate, pragmatic, and actionable information specifically tailored to suit your business needs.
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