DUBLIN–(BUSINESS WIRE)–The “Cannabis Packaging Market – Growth, Trends, COVID-19 Impact, and Forecasts (2021 – 2026)” report has been added to ResearchAndMarkets.com’s providing.
The hashish packaging market was valued at USD 101.48 billion in 2020 and is anticipated to succeed in USD 297.51 billion by 2026, at a CAGR of 22.59% over the forecast interval 2021 – 2026.
The hashish packaging market is anticipated to witness notable development within the subsequent few years, owing to the rising demand for medical and leisure hashish merchandise for consumption. The growing legalization of hashish in varied nations is more likely to drive the longer term market.
The leisure hashish utility is anticipated to drive the market sooner or later, because it confirmed unprecedented development in recent times. The Marijuana Business Daily reported flowers as probably the most most well-liked type of hashish offered within the United States. The flower is packed in jars or versatile packaging baggage.
The widespread legalization of hashish has elevated since 2018, resulting from which the market remains to be new and extra superior processing and packaging usually are not getting used available in the market. The handbook strategies are largely utilized by cultivators to ship their bulk produce to dispensaries. However, because the market matures, the demand for pre-packaged hashish is anticipated to develop sooner or later. This demand might not solely drive the market sooner or later, however the elevated competitors is anticipated to see extra premium and custom-made packaging options being supplied available in the market. The present gamers, like KushCo, supply customization by printing on completely different jars they provide.
Furthermore, beginning in 2020, Chicago legalized hashish gross sales and reported USD 10 million value of hashish gross sales within the first six days, because it was legalized. Almost 271,000 transactions have been made throughout this era. On January 2, 2020, the Department of Revenue reported that, within the first spherical of functions for brand spanking new hashish dispensary licenses, it acquired greater than 700 functions in search of virtually 4,000 licenses.
The packaging of hashish is important for varied kinds to guard the flower’s integrity, whereas the hermetic containers permit the curing strategy of hashish to develop over time. According to those strict laws, hashish merchandise’ packaging ought to have a single and uniform shade, with a standardized font model. As extra states have been legalizing medical hashish, the hashish business the world over is rising at an incredible price, thereby fueling the demand for its packaging within the rising market.
The packaging of hashish is probably the most essential course of, owing to varied laws imposed by completely different nations’ governments the world over. For occasion, medical hashish is accessible in varied kinds, akin to flowers or concentrates, that are extracted within the type of oils, extracts, or edibles. This medical hashish packaging is rising, thus boosting varied corporations to supply holistic options to its producers.
In August 2020, researchers in Israel have been testing the efficacy of hashish terpenes in treating COVID-19 infections. The research performed by the hashish analysis and growth agency Eybna and Cannasoul examined how a selected hashish terpene formulation can deal with the inflammatory circumstances, akin to cytokine storm syndrome, a standard incidence in extreme COVID-19 circumstances.
The hashish packaging market is a extremely consolidated market with few high gamers dominating the market’s vital share. Some of the dominant gamers available in the market are KushCo Holdings Inc., JL Clarks Inc., Kaya Packaging, Impak Corporation, Funksac LLC., Dixie Elixirs & Edibles, Pollen Gear LLC., amongst others.
Key Topics Covered:
2 RESEARCH METHODOLOGY
Three EXECUTIVE SUMMARY
Four MARKET INSIGHTS
4.1 Market Overview
4.2 Industry Value Chain Analysis
4.3 Industry Attractiveness – Porter’s Five Force Analysis
4.4 Assessment of COVID-19 Impact on the Cannabis Packaging Market
5 MARKET DYNAMICS
5.1 Market Drivers
5.1.1 Rising Demand for Medical and Recreational Cannabis Products
5.1.2 Legalization of Cannabis in Various North American Countries
5.2 Market Restraints
5.2.1 Stringent Regulation Related to Cannabis Packaging
6 CANNABIS APPLICATIONS (QUALITATIVE ANALYSIS)
7 MARKET SEGMENTATION
7.1 By Type
7.1.1 Rigid Packaging
7.1.2 Flexible Packaging
7.2 By Packaging Materials
7.2.4 Cardboard Containers
Eight COMPETITIVE LANDSCAPE
8.1 Company Profiles
8.1.1 KushCo Holdings Inc.
8.1.2 JL Clarks Inc.
8.1.3 Kaya Packaging
8.1.4 Cannaline Cannabis Packaging Solutions
8.1.5 Funksac LLC.
8.1.6 Dixie Elixirs & Edibles
8.1.7 Pollen Gear LLC.
8.1.Eight N2 Packaging Systems
8.1.9 Green Rush Packaging
8.1.10 Isodiol International Inc.
8.1.11 Berry Global Inc.
9 INVESTMENT ANALYSIS
10 FUTURE OF THE MARKET
For extra details about this report go to https://www.researchandmarkets.com/r/me236g