Global Medical Marijuana Packaging Market to Derive Growth from Rising Use of Marijuana in the treatment of Various Illness

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.

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Medical Marijuana Packaging Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 – 2024

Medical marijuana can be defined as the use of cannabis for treatment of certain ailments. It can be utilized for medicinal uses; however, the complete safety and efficacy profiling is till unavailable. Medical marijuana is available in various forms such as flower or concentrates, which is extracted in the form of oils, extracts or edibles. Packaging medical marijuana is a growing business and many companies offer holistic solutions to medical marijuana manufacturers. The key packaging modes available in the market include,

• Jars
• Bags
• Bottles
• Vials
• Wrappers
• Concentrate containers
• Tubes
• Custom packaging
• Bubblers

Medical marijuana packaging market is highly reliant on government regulations, as extraction, sale, and distribution not only varies from country to country, but also across states. Due to ever-evolving regulations on marijuana, the market is prone to fluctuations. The packaging manufacturing companies needs to make sure that the packaging is child-proof, opaque, unattractive, re-sealable, properly labelled, tamper-proof and in accordance with the state laws. The market can be segmented on the basis of product type into,

• Flower packaging
• Concentrate packaging
• Edible packaging

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The global cannabis packaging industry has undergone significant growth and various companies have recently launched recyclable packaging such as metal cans, compostable cellophane bags, and compostable pouches. Product marketing through packaging is a focus area for packaging companies, but meeting local and federal laws is critical for success. The medical marijuana packaging market follows different strategies; for example, companies which are based in USA have an advantage to give custom based products in short time, whereas companies based in Asia Pacific can deliver products at cut-rate prices.

Medical Marijuana Packaging Market: Region-wise Analysis

Region-wise, the medical marijuana market can be segmented into five major regions: North America, Europe, Asia-Pacific, Latin America, and Middle East-Africa (MEA). North America is a leading market for medical marijuana, whereas Europe and Asia-Pacific are expected to witness robust growth. The Asia Pacific medical marijuana packaging market is anticipated to witness steady growth during the forecast period, owing to growing use of marijuana in treating various mental illnesses.

Sensing the opportunity that this rapidly growing market offers, several packaging companies have made a foray into the medical marijuana packaging landscape. Some of the key companies operating in the marijuana packaging market are Cannaline, Inkable Label, Second Nature Agency, The Green Cross collective, Elevate Packaging, Blazin Bottles, Honest Marijuana Co., Elevate Packaging, Great Pacific Packaging, Inc., Brandsy Cannabis Creative, Dixie Elixirs & Edibles, McKernan Packaging Clearing House, Shatter Labels, Shenzhen (HK) Alfinity Technology Co., Ltd., Kush Bottles, CannaPack, High Supply, Marijuana Packaging, and Collective Supply. Currently, a significant percentage of small-scale industries are actively involved in medical marijuana packaging market, considering the overall state of the market and the expected growth.

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