Medical Cannabis (CBD) Packaging Market was at US$ 992.21 Mn in 2021 and is growing to approx US$ 2,742.34 Mn by 2030, with a CAGR growth of 11.7%, 2022 - 2030.

SANDY, UTAH, UNITED STATES, January 15, 2023 /EINPresswire.com/ -- According to the study, The Global Medical Cannabis (CBD) Packaging Market was estimated at USD 992.21 Million in 2021 and is anticipated to reach around USD 2,742.34 Million by 2030, growing at a CAGR of roughly 11.7% between 2022 and 2030.

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Medical Cannabis (CBD) Packaging Market: Overview

The huge number of health benefits that are obtained from the use of these products has propelled the size of the market to a great extent. The various advanced packaging options available in the market have enabled the manufacturers to provide better protection to the material’s structure and shape, which helps attract potential consumers. And it took to packaging helps to drive the market to new heights.

Medical Cannabis (CBD) Packaging Market: Growth Drivers

The use of medical Cannabis (CBD) in treating various diseases related to the central nervous system has encouraged a huge population to opt for such products. The one-stop packaging techniques that the key market players have adopted have attracted potential consumers worldwide. Innovative packaging options introduced by the key market players help spread easy awareness regarding the contents and uses of such products, enabling people to purchase them. Induction cell research and development carried out by the key market players, along with a huge investment made by them for this purpose, has helped drive the market to new heights and is foreseen to record considerable growth during the forecast period.

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Key Insights:

A) As per the analysis shared by our research analyst, the Medical Cannabis (CBD) Packaging market is estimated to grow annually at a CAGR of around 11.7% over the forecast period (2022-2030).
B) In terms of revenue, the Medical Cannabis (CBD) Packaging market size was valued at around USD 992.21 Million in 2021 and is projected to reach USD 2,742.34 Million by 2030. Due to a variety of driving factors, the market is predicted to rise at a significant rate.
C) The use of advanced packaging options imposes an additional cost on the product’s total price, which greatly hampers the market’s growth. The use of plastics hampers the quality of the medicine over time, which also emerges as a restraining factor for the market’s growth.
D) The huge number of benefits obtained from medical Cannabis (CBD) to manage the treatment of chronic diseases has emerged as a major opportunity for the market’s growth, which also, in turn, supports the packaging industry. Cannabis (CBD) products act as a major pain reliever; hence, the demand for such products is increasing in the market.
E) Lack of awareness among the people regarding the health benefits obtained from using Cannabis (CBD) products has also challenged the packaging industry’s growth. The total cost of the product increases along with the use of advanced packaging options, which greatly challenges the packaging industry’s growth.

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Regional Landscape

The region of North America has emerged as the largest sector for the medical Cannabis (CBD) packaging market due to the huge number of products demanded by this region. The process of legalization that has taken place in this region has helped to boost the sales and demand for cannabis products which enhances the growth of the packaging industry as well. Advanced packaging options available in this region, including glass and plastics, emerged as the major segments that have greatly boosted the market’s size.

The European countries also have legalized cannabis products, which is a major driving force for the packaging industry. Restrictions imposed by the countries belonging to the Asia Pacific region have greatly hampered the market’s growth to a great extent. The key market players are trying to spread awareness regarding the benefits of Cannabis (CBD) products which are helping the packaging industry boost its business.

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Key Players

L. CLARK
IMPAK Corp.
Berry Global Inc.
KushCo Holdings Inc.
Pollen Gear
Cannaline Cannabis Packaging Solutions
Norkol Packaging LLC
N2 Packaging Systems, LLC
Green Rush Packaging
MMC DEPOT

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The Medical Cannabis (CBD) Packaging Market is segmented as follows:

By Material

Plastic
Glass
Metal
Paper

By Product

Tubes
Jars and bottles
Pouches
Tins
Clamshells and blisters
Others

By Application

Medical use
Recreational use

By Geography

North America

The USA
Canada
Mexico
Europe
The UK
Germany
France
Italy
Russia
Rest of Europe

Asia Pacific

China
India
Japan
South Korea
Malaysia
Philippines
Rest of Asia-pacific

Latin America

Brazil
Rest of Latin America
Middle East and Africa
GCC
North Africa
South Africa
Rest of Middle East & Africa

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