Medical Marijuana Packaging Market to Reach USD 40 billion with Massive CAGR of 15.05% by 2025
Zion Market Research has published a new report titled “Medical Marijuana Packaging Market by Packaging Type (Flower Packaging, Concentrate Packaging, and Edible Packaging) and by Mode (Jars, Bottles, Vials, Tubes, Wrappers, Concentrate Containers, and Custom Packaging): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025”. According to the report, the global medical marijuana packaging market was valued at approximately USD 15 billion in 2018 and is expected to generate around USD 40 billion by 2025, at a CAGR of around 15.05% between 2019 and 2025.
The high demand for medical marijuana for medical and therapeutic treatments and operations is the primary factor contributing to the growth of the medical marijuana packaging market. Additionally, huge public and private investments in R&D to discover safer forms of ingesting marijuana, such as oils and tinctures, is expected to have a positive impact on this market’s growth in the future. The presence of several regulatory bodies and institutions for policy formulations, such as the Medical Marijuana Regulation and Safety Act, will further stimulate the medical marijuana packaging market in the upcoming years. There are a specific set of rules and regulations that every packaging company has to follow to sell medical marijuana. Every packaging should have labeling and specific dosage information for safety purposes, particularly for child-resistant packaging. Labeling regulations should be particular about quantity and information of chemicals in medical marijuana. However, the time-consuming government approval process may hamper the medical marijuana packaging market in the future.
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Based on packaging type, the medical marijuana packaging market is segmented into flower packaging, concentrate packaging, and edible packaging. Flower packaging segment is expected to dominate the market, as it usually consists of pop tops and glass jars apart from being tamper-free and child-resistant.
On the basis of mode, the market is categorized into jars, bottles, vials, tubes, wrappers, concentrate containers and custom packaging. Vials are expected to dominate the global market in the future, owing to extensive product use for medical marijuana packaging as they are child-resistant in nature. As per the packaging laws, medical marijuana packaging should be done in a child-resistant manner.
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By region, North America held an extensive revenue share of the global medical marijuana packaging market in 2018 and is expected to dominate in the upcoming years as well. This regional growth can be attributed to the growing acceptance of medical marijuana in most of the states in the U.S. and the widened scope of medical marijuana due to cannabis legalization. The Asia Pacific medical marijuana packaging market is expected to provide significant opportunities in the global market, owing to the growing acceptance of medical marijuana in the Southeast Asian nations. Thailand was the first country to legalize the use of medical marijuana.
Some key industry players operating in the global medical marijuana packaging market include 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, and McKernan Packaging Clearing House, among others.
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This report segments the global medical marijuana packaging market into:
Global Medical Marijuana Packaging Market: Packaging Type Analysis
- Flower Packaging
- Concentrate Packaging
- Edible Packaging
Global Medical Marijuana Packaging Market: Mode Analysis
- Concentrate Containers
- Custom Packaging
Global Medical Marijuana Packaging Market: Regional Analysis
- North America
- The U.S.
- Asia Pacific