The global market of cannabis packaging is predicted to observe an annualized average rate of revenue growth from 2021 to 2026. With individuals demanding more and more medical and recreational cannabis products for consumption, the cannabis packaging market might witness notable growth in the future. Various countries have already legalized the consumption and growth of cannabis, and this increased legalization is likely to influence the growth of the future market. Discover some of the factors that will likely support the future of cannabis custom packaging solutions.
- Medical Cannabis Requires Multiple Packaging Solutions
Since medical cannabis is found in different forms, be it flowers, concentrates, extracts, or oils. Packaging companies have to follow various regulations imposed by their government and thus have to offer holistic solutions to their manufacturers. Many cannabis packaging brands are committed to offering only custom packaging solutions that are eco-friendly and adhere to the legal packaging rules.
- Increase in Demand For Recreational Cannabis
The rising consumption of recreational cannabis and its application are anticipated to drive the Global Cannabis Packaging Market. Recreational cannabis, especially flowers, showed unprecedented growth in recent years, and therefore, companies are also designing child-resistant jars or flexible packaging bags for storing all sorts of recreational cannabis. Also, our existing youth is demanding recreational cannabis daily. Hence, all the small and emerging cannabis packaging players try to offer efficient custom packaging solutions.
- Increasing Demand for Sustainable And Eco-Friendly Cannabis Packaging
The packaging of cannabis is being highly impacted due to increased focus on strict regulations, sustainable and custom packaging solutions, and branding. Companies are shifting their focus to creating custom printed packaging boxes with logos and delivering customers eco-friendly packaging. Also, the cannabis packaging industry is switching to automated packaging machines instead of relying on manual labor for processing and packaging cannabis products.
- High Demand For Cannabis Packaging Products Due To A Nationwide Lockdown
During the COVID-19 outbreak, retail stores observed unprecedented sales of cannabis products as individuals suffered from fear of its scarcity. Thus, with the lockdown infused, Multiple retail stores registered massive traffic from consumers demanding a vast supply of cannabis custom packaging solutions and products.