The presence of various regulations and regulatory frameworks is indicative of the rising demand for medical marijuana. This in turn is expected to fuel the demand for appropriate packaging. In a report, titled “Medical Marijuana Packaging Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 – 2024,” Transparency Market Research (TMR) studies the various drivers and restraints impacting the market’s growth. It is intended to offer market intelligence to companies operating in the global medical marijuana packaging market besides updating the readers about the prevailing trends.
According to TMR, the global medical marijuana packaging market is governed by stringent regulatory framework. Laws may vary not only from one nation to another but also among states within the same country. However, due to ever-evolving laws with regards to the use of medical marijuanas, the market is subjected to fluctuations. In order to function smoothly, it is important for manufacturers to ascertain that the medical packaging is opaque, child-proof, resalable, unattractive, tamper-proof, and labelled in accordance to state laws.
For the purpose of the study, the global medical marijuana packaging market can be segmented in terms of various criteria. For instance, the market can be classified into concentrate packaging, flower packaging, and edible packaging based on product type. Besides these, several companies have launched recyclable packaging such as compostable cellophane bags, metal cas, and compostable pouches to gain traction. While most companies focus on product marketing via packaging technologies, meeting state and federal laws is of prime importance. Hence, strategies adopted by the companies operating in the global medical marijuana packaging market may vary from nation to nation. For example, companies operating in the US enjoy the facility of manufacturing custom-based products in short time, while their contemporaries in Asia Pacific are required to deliver products at a cut-rate price.
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Regionally, the global medical marijuana packaging market can be segmented into Asia Pacific, North America, Europe, Latin America, and the Middle East and Africa. Among these nations, North America is expected to show lucrative growth opportunities. In Asia Pacific, the medical marijuana packaging market is forecast to witness growth at a steady pace. The rising use of medical marijuana in the treatment of various mental illnesses is expected to boost its sales in the coming years, thus driving the global medical marijuana market.
As per TMR, the market will witness the influx of several companies in the coming years. Some of the leading companies currently operating in the global medical marijuana market are The Green Cross collective, Shatter Labels, Second Nature Agency, Brandsy Cannabis Creative, Shenzhen (HK) Alfinity Technology Co., Ltd., Elevate Packaging, and Dixie Elixirs & Edibles. Strategies adopted by these companies are likely to have a significant influence on the overall market.
Regulatory frameworks are indicative of the rising demand for medical marijuana. This, in turn, is expected to fuel the demand for appropriate cannabis packaging machines.
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ReplyDeleteThanks so much for sharing this information with online! The merchandising options available to a product during a stand up pouch are far greater than other items. Stand up pouches are available in any number of designs and with multiple different access methods, like recolorable zippers, spouts, sliders, or stickers.
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