Global Medical Marijuana Packaging Market
Posted by Ganesh Mane on April 14th, 2021
Global Medical Marijuana Packaging Market was valued at US$ 15.1 Bn in 2019 and is expected to reach US$ 41.7 Bn by 2027, at a CAGR of 13.54% during a forecast period.
The report includes an analysis of the impact of COVID-19 lockdown on the revenue of market leaders, followers, and disruptors. Since the lockdown was implemented differently in various regions and countries; the impact of the same is also seen differently by regions and segments. The report has covered the current short-term and long-term impact on the market, and it would help the decision-makers to prepare the outline and strategies for companies by region.
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The Medical Marijuana Packaging market is witnessing vibrant growth as huge demand for medical marijuana for medical and therapeutic treatments and operations across the globe. Growing investments in R&D to discover safer forms of ingesting marijuana, such as oils and tinctures is estimated to drive the global medical marijuana packaging market growth during the forecast period. Increased demand for recyclable packaging solutions among consumers across the globe as rising concerns regarding the environment is also expected to fuel the market growth during the forecast period.
The presence of various regulatory bodies and institutions for policy formulations, such as the Medical Marijuana Regulation and Safety Act is expected to boom the market growth positively. The growing demand for holistic solutions around the world is propelling market growth in a positive way. However, the government’s time-consuming approval process is estimated to hamper the market in the forecast period.
Based on packaging type, the flower packaging segment is expected to hold the largest share in the global medical marijuana packaging market, as it usually consists of pop tops and glass jars apart from being tamper-free and child-resistant. Based on mode, the vial's segment is expected to hold the largest share in the global medical marijuana packaging market in the forecast period owing to rising strict regulations regarding packaging such as medical marijuana packaging should be done in a child-resistant manner. The rise in extensive product usage as they are child-resistant in nature.
In terms of region, North America is expected to hold the largest share in the global medical marijuana packaging market during the forecast period. The US is expected to drive the global medical marijuana packaging market growth in the forecast period owing to the increasing acceptance of medical marijuana in this country. The Asia Pacific is expected to generate the highest CAGR in the global medical marijuana packaging market during the forecast period as the increasing use of marijuana in treating various mental illnesses.
The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data, and projections with a suitable set of assumptions and methodology. The report also helps in understanding Medical Marijuana Packaging Market dynamics, structure by identifying and analyzing the market segments and project the global market size.
Further, the report also focuses on the competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence.
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Global Medical Marijuana Packaging Market, by Packaging Type
• Flower Packaging
• North America
• Great Pacific Packaging, Inc.
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About the AuthorGanesh Mane
Joined: January 27th, 2021
Articles Posted: 125
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