Latest Trends in Cannabis Packaging Market:
The cannabis industry in North America is like other legal consumer goods industries, such as food, tobacco or alcohol. Some cannabis-infused products already look strikingly similar to existing consumer products. In addition to ‘flower’ which is the smokable leaf that most people usually associate with cannabis, there are many cannabis-infused products that range from edibles such as snacks and meals, to concentrates such as pills and oils, and beverages.
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Scope of the Report:
One of the major drivers for this market is the growing cannabis sales market. The North American cannabis market posted a revenue of $6700 million in 2016, marking about 30% increase from the 2015 figures. Cannabis sales are expected to grow at a CAGR of 10.40% during the forecast period when the North American market is expected to reach $8900 million in 2021. In the case of the cannabis boom, legalization is bringing new users to the market.
In Colorado, Washington, and Oregon, recreational use was legal before 2016, with the consumer spending on cannabis about 62% during 2015-2016. Seven US states legalized cannabis in some form on the Election Day. The sudden popularity of alternative ingestion techniques, such as weed-laced topical sprays and edibles fueled the growth of the growing cannabis market in North America, thereby subsequently boosting the cannabis packaging market in North America.
The Key Manufacturers of Cannabis Packaging Market Covered In This Report:
Kush Bottles, Maple Leaf Green World, J.L.Clark, KAYA CANNABIS, Lexaria Bioscience
Market segment by Type, the product can be split into
Market segment by Application, the market can be split into
The Cannabis Packaging Market report also splits the market by region:
North America (United States, Canada, Mexico)
South America (Brazil, Argentina, Ecuador, Chile)
Asia Pacific (China, Japan, India, Korea)
Europe (Germany, UK, France, Italy)
Middle East Africa (Egypt, Turkey, Saudi Arabia, Iran) And More.
This study mainly helps understand which market segments or Region or Country they should focus in coming years to channelize their efforts and investments to maximize growth and profitability. The segmentation study equips interested parties to identify high-growth portions of the global Cannabis Packaging market and understand How the leading segments could grow during the forecast period.
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- Focuses on the key global Cannabis Packaging manufacturers, to define, describe and analyze the sales volume, value, market share, market competition landscape, SWOT analysis, and development plans in the next few years.
- What end markets make good investment choices?
- Should my company focus on a particular Cannabis Packaging market for maximum growth?
- What overall trends can be discerned for the period under report?
- What forecasts are in store for the quarter? For the long term?
- What is the individual market outlook per application, per device, and per submarket?
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Key Points sheathed in the Cannabis Packaging Market Report Coverage:
• Among end-user industries, the industrial segment is projected to lead the Cannabis Packaging market during the forecast period.
• Among types, the market segment is projected to grow at the highest CAGR during the forecast period.
• Increasing demand for Cannabis Packaging market in the Asia-Pacific is the major driver for the growth of the coating equipment market in the region.
• How to deal with new innovations?
Further, the Cannabis Packaging industry research report determines the Marketing Analysis, Regional Market Analysis, International Trade Analysis. The market Traders or Distributors with Contact Information by Region and Supply Chain Analysis. That is followed by various business strategies, the report contains essential outcome help could boost the interest level of the individuals in the market.