BURLINGAME, Calif., March 14, 2024 /PRNewswire/ — Coherent Market Insights published a report, titled, Global Cannabis Packaging Market, By Material Type (Plastics, Paper, Glass, Metal, Cardboard, and Others (Foils, Hemp Plastic)), By Packaging Type (Rigid Packaging, Flexible Packaging, Semi-rigid Packaging, and Others (Cans, Boxes)), By Application (Food, Beverages, Pharmaceuticals, Cosmetics, and Others (Automotive, Electronics)), and By Geography: Size, Share, Outlook, and Opportunity Analysis, 2023-2030. According to the report, the global cannabis packaging market was valued at US$ 2.64 Bn in 2023 and is expected to reach US$ 13.17 Bn by 2030, growing at a compound annual growth rate (CAGR) of 25.8% from 2023 to 2030.

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Market Dynamics:

The growing legalization of cannabis for medical and recreational purposes across the globe is one of the key drivers driving the growth of the cannabis packaging market. Additionally, the increasing awareness about the importance of child-resistant packaging for cannabis products is also fueling market growth.

Cannabis Packaging Market Report Coverage

Market Trends:

One of the key trends observed in the cannabis packaging market is the development of sustainable packaging solutions. With the increasing focus on environmental sustainability, manufacturers are investing in eco-friendly packaging materials for cannabis products. Another trend is the integration of smart packaging technologies, such as QR codes and RFID tracking, to ensure product safety and authenticity. These technological advancements are expected to drive market growth in the coming years.

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The cannabis packaging market is witnessing a significant rise in demand for sustainable packaging solutions. With the increasing awareness about environmental concerns and the need to reduce plastic waste, consumers are actively seeking eco-friendly packaging options. This trend is driving the market towards materials such as paper, glass, and cardboard, which are biodegradable and recyclable. Manufacturers are focusing on developing innovative, sustainable packaging solutions to meet the growing consumer demand for environmentally friendly products.

The legalization of cannabis for medical and recreational use in various regions around the world is creating new opportunities for the cannabis packaging market. As the cannabis industry grows, the demand for secure and compliant packaging solutions is also increasing. Regulations require cannabis products to be packaged in child-resistant, tamper-evident packaging to ensure safety and compliance. This has led to the development of specialized packaging solutions designed specifically for the cannabis industry, such as child-resistant bags and containers.

Recent Developments:

In February 2021, a new automated cannabis packaging technology was introduced by Spee-dee.

In December 2020, a packaging start up called Dymapak introduced Vessel, a high-end, reusable aluminium container for cannabis flowers.

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Key Market Takeaways:

Cannabis Packaging Market is anticipated to witness a CAGR of 25.8% during the forecast period 2023-2030, owing to the increasing demand for sustainable packaging solutions and the legalization of cannabis in various regions.

On the basis of material type, plastics are dominating the market, with plastic packaging solutions being widely used in the cannabis industry. In the packaging type segment, rigid packaging is expected to hold a dominant position, providing secure and durable packaging solutions for cannabis products. The food application segment is dominating the market, with packaging solutions designed specifically for food products infused with cannabis.

In terms of regions, North America is expected to hold a dominant position in the cannabis packaging market, driven by the legalization of cannabis in various states and the growing demand for compliant packaging solutions. Key players operating in the market include Kush Supply Co., J.L.Clark, KAYA Packaging, and other leading companies in the packaging industry. These players are focusing on developing innovative packaging solutions to meet the unique needs of the cannabis industry and capitalize on the growing market opportunities.

Overall, the cannabis packaging market is poised for significant growth, driven by the increasing demand for sustainable packaging solutions, the legalization of cannabis in various regions, and the focus on compliant packaging solutions for the cannabis industry. Manufacturers and key players in the market are expected to continue innovating and developing specialized packaging solutions to meet the evolving needs of the cannabis industry and capitalize on the growing market opportunities.

Read complete market research report, “Cannabis Packaging Market, By Material Type, By Packaging Type, By Application, By Geography, Market Size And Share Analysis – Growth Trends And Forecasts 2023-2030“, Published by Coherent Market Insights.

Detailed Segmentation

By Material Type:

• Plastics
• Paper
• Glass
• Metal
• Cardboard
• Others (Foils, Hemp Plastic)

By Packaging Type:

• Rigid Packaging
• Flexible Packaging
• Semi-rigid Packaging
• Others (Cans, Boxes)

By Application:

• Food
• Beverages
• Pharmaceuticals
• Cosmetics
• Others (Automotive, Electronics)

By Region:

• North America

• • U.S.
  • Canada

• Latin America

• • Brazil
  • Mexico
  • Rest of Latin America

• Europe

• • Germany
  • U.K.
  • Spain
  • France
  • Italy
  • Russia
  • Rest of Europe

• Asia Pacific

• • China
  • India
  • Japan
  • Australia
  • South Korea
  • Rest of Asia Pacific

• Middle East & Africa

• • South Africa
  • GCC Countries
  • Rest of Middle East & Africa

Find more related trending reports below:

Mailer Packaging Market, By Type (Cushioned Mailers, Non-cushioned Mailers), By Material Type (Plastic, Paper, Foil), By End User (E-commerce, Shipping & Logistics, Manufacturing & Warehousing), By Insulation (Insulated, Non-insulated), By Geography (North America, Europe, Asia Pacific, Latin America, Middle East and Africa)

Retort Packaging Market, By Product Type (Pouches, Trays, Cartons, Others), By Material Type (Polypropylene, Polyethylene, Aluminum, Paperboard, Nylon, Others), By End-use Industry (Food, Beverages, Pharmaceuticals, Others), By Retort Type (Hard Retort, Soft Retort), By Geography (North America, Europe, Asia Pacific, Latin America, Middle East and Africa)

Clamshell Packaging Market, By Material (PVC, PET, PP, PE, PS, Paper, and Others), By End-use Industry (Food, Consumer Electronics, Cosmetics, Household Goods, Toys, Medical Devices, and Others), By Packaging Type (Mock Clamshell, Full Clamshell, Quad-fold Clamshell, Tri-fold Clamshell, Two-fold Clamshell, and Others), By Geography (North America, Latin America, Europe, Asia Pacific, Middle East & Africa)

Botanical Packaging Market, By Product (Paper-based packaging, Cardboard packaging, Biodegradable/compostable materials, Sustainable or recycled materials), By Packaging Type (Boxes, Tubes, Pouches, Bags, Jars, Bottles, Cartons), By Product Type (Herbal teas, Herbal supplements, Essential oils, Herbal cosmetics, Dried herbs and spices, Herbal extracts), By Application (Food and beverages, Pharmaceuticals, Cosmetics and personal care, Nutraceuticals, Aromatherapy ), By Labeling and Branding (Custom labels, Brand-specific designs, Sustainable packaging certifications, Eco-friendly messaging), By Distribution Channel (Retail stores, E-commerce, Specialty stores, Pharmacies and health stores), By Size (Small packaging (samples, travel size), Standard packaging, Bulk packaging), By Sustainability Features (Recyclability, Compostability, Biodegradability, Renewable materials), By Packaging Functionality (Moisture resistance, Airtight/sealed packaging, UV protection, Child-resistant packaging), By Geography (North America, Latin America, Europe, Middle East & Africa, and Asia Pacific)

About Us:

Coherent Market Insights is a global market intelligence and consulting organization that provides syndicated research reports, customized research reports, and consulting services. We are known for our actionable insights and authentic reports in various domains including aerospace and defense, agriculture, food and beverages, automotive, chemicals and materials, and virtually all domains and an exhaustive list of sub-domains under the sun. We create value for clients through our highly reliable and accurate reports. We are also committed in playing a leading role in offering insights in various sectors post-COVID-19 and continue to deliver measurable, sustainable results for our clients.

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The “Cannabidiol Global Market Report 2023” report has been added to ResearchAndMarkets.com’s offering.

The global cannabidiol market grew from $6.82 billion in 2022 to $9.4 billion in 2023 at a compound annual growth rate (CAGR) of 37.8%. The cannabidiol market is expected to grow to $31.85 billion in 2027 at a CAGR of 35.7%.

The cannabidiol (CBD) market encompasses a range of CBD products, including full-spectrum CBD, broad-spectrum CBD, and CBD isolate, with values reflecting the factory gate values or the prices at which manufacturers and creators sell their goods. These goods are distributed to downstream manufacturers, wholesalers, distributors, retailers, and end customers, and the market’s value includes related services offered by the creators of these CBD products.

CBD, derived from cannabis plants, serves various purposes, from treating epilepsy, anxiety, and pain to addressing conditions like dystonia, Parkinson’s disease, and Crohn’s disease. It also finds applications in coffee and skincare products and pet treats.

In 2022, North America emerged as the largest region in the cannabidiol market, while the Asia-Pacific region is projected to witness the fastest growth in the forecast period. The market report covers regions such as Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

Cannabidiol products come in various forms, including oils, tinctures, suppositories, transdermal patches, vape oils, isolates, creams, roll-ons, capsules, tablets, and more. CBD oil, for instance, is extracted from cannabis plants and diluted with carrier oils like coconut or hemp seed oil. These products have diverse applications, from medical and personal use to pharmaceuticals and wellness, and they are distributed through channels such as hospital pharmacies, retail pharmacies, online stores, and others.

One driving force behind the cannabidiol market’s growth is the increasing acceptance and use of CBD products, thanks to government approvals. Recognizing the potential medical benefits of cannabidiol, governments worldwide are taking steps to improve regulatory pathways for lawful CBD product marketing, ensuring public health while promoting market growth. For instance, in January 2022, Australia’s Therapeutic Goods Administration approved a substantial number of SAS Category B applications for unapproved medicinal cannabis products.

Product innovation is a noteworthy trend in the cannabidiol market, allowing companies to stand out in a competitive landscape and attract more customers. For example, Cibdol, a Netherlands-based CBD and wellness company, launched its exclusive CBD Oil 2.0 range in December 2021, featuring higher levels of essential compounds like CBC, CBG, CBN, and CBDa alongside pure CBD. This innovative CBD oil formula addresses various modern living-related challenges, from appetite and mood to pain and sleep.

Additionally, in August 2021, Canada-based greenhouse produce company Village Farms International Inc. acquired Balanced Health Botanicals for $75 million, strengthening its position in the US retail CBD market. Balanced Health Botanicals is known for producing high-quality health and wellness products in the hemp-derived CBD market, aligning with Village Farms International Inc.’s expansion goals.

These developments underscore the dynamic nature of the cannabidiol market, driven by factors like government approvals and product innovation, promising growth and evolution in the foreseeable future.

Major players in the cannabidiol market are

• ENDOCA
• Cannoid, LLC
• Medical Marijuana, Inc.
• Folium Biosciences
• Elixinol
• NuLeaf Naturals, LLC
• Isodiol International, Inc.
• Pharmahemp d.o.o.
• Canopy Growth Corp
• CV Sciences Inc.
• Endoca BV
• Medterra
• The Cronos Group
• CBD American Shaman LLC
• Walgreens Boots Alliance
• Aphria, Inc.
• Maricann, Inc.
• Tilray
• Organigram Holding, Inc.
• CannTrust

Key Topics Covered:

1. Executive Summary

2. Cannabidiol Market Characteristics

3. Cannabidiol Market Trends And Strategies

4. Cannabidiol Market – Macro Economic Scenario
4.1 COVID-19 Impact On Cannabidiol Market
4.2 Ukraine-Russia War Impact On Cannabidiol Market
4.3 Impact Of High Inflation On Cannabidiol Market

5. Cannabidiol Market Size And Growth
5.1. Global Cannabidiol Historic Market, 2017-2022, $ Billion
5.1.1. Drivers Of The Market
5.1.2. Restraints On The Market
5.2. Global Cannabidiol Forecast Market, 2022-2027F, 2032F, $ Billion
5.2.1. Drivers Of The Market
5.2.2. Restraints On the Market

6. Cannabidiol Market Segmentation
6.1. Global Cannabidiol Market, Segmentation By Product, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion

• Oil
• Tinctures
• Suppository
• Transdermal Patches
• Vape Oil
• Isolates
• Creams And Roll-On
• Capsules
• Tablet
• Other Products

6.2. Global Cannabidiol Market, Segmentation By Source, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion

• Marijuana
• Hemp

6.3. Global Cannabidiol Market, Segmentation By Treatment, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion

• CBD Oil
• Supplements

6.4. Global Cannabidiol Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion

• Medical
• Personal Use
• Pharmaceuticals
• Wellness

6.5. Global Cannabidiol Market, Segmentation By Distribution Channel, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion

• Hospital Pharmacies
• Retail Pharmacies
• Online Stores
• Other Distribution Channels

7. Cannabidiol Market Regional And Country Analysis
7.1. Global Cannabidiol Market, Split By Region, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
7.2. Global Cannabidiol Market, Split By Country, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion

For more information about this report visit https://www.researchandmarkets.com/r/p1rys

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SOURCE Research and Markets

 The “Global Industrial Hemp Market Size By Type, By Application, By Sources, By Geographic Scope And Forecast” report has been published by Verified Market Research®. The report provides an in-depth analysis of the global Industrial Hemp Market, including its growth prospects, market trends, and market challenges.

JERSEY CITY, N.J., Sept. 12, 2023 /PRNewswire/ — The Global Industrial Hemp Market is projected to grow at a CAGR of 14.05% from 2023 to 2030, according to a new report published by Verified Market Research®. The report reveals that the market was valued at USD 8.10 Billion in 2022 and is expected to reach USD 23.20 Billion by the end of the forecast period.

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Browse in-depth TOC on “Industrial Hemp Market“

202 – Pages
126 – Tables
37 – Figures

Global Industrial Hemp Market: Growing Demand and Regulatory Shifts Shape Industry Landscape

The global Industrial Hemp Market is poised for significant expansion, driven by an array of market drivers and regulatory shifts. Key players such as Hemp Oil Canada, Hemp Inc., Konoplex Group, BAFA, Hemp Poland, Dun Agro, HempFlax BV, HempFlax BV, and others are at the forefront of this transformative industry, capitalizing on the increasing consumer awareness of hemp-based products and their diverse applications.

Industrial Hemp Market Drivers:

• Diverse Applications: Industrial hemp is a versatile commodity utilized across numerous sectors, including clothing, textiles, food and beverages, cosmetics, dietary supplements, paper production, construction materials, and more. This wide-ranging applicability fuels Industrial Hemp Market growth.
• Health and Sustainability: Rising consumer health consciousness and the demand for natural, sustainable products are propelling the market. Hemp oil, with its high essential fatty acid content, is garnering attention for its health benefits, particularly in the food and beverage industry.
• Automotive Sector: Industrial hemp’s exceptional mechanical properties make it an ideal choice for specialty paper, insulation, and bio-composites in the automotive industry. As governments worldwide focus on fuel efficiency, the demand for lightweight materials is set to soar, benefiting key players in this space.
• Regulatory Liberalization: Favorable regulatory changes, especially in the United States, are expected to drive Industrial Hemp Market growth. Regulatory shifts are enabling increased production and consumption of industrial hemp across countries.

Industrial Hemp Market Outlook:

The global industrial hemp market is set to witness robust growth over the forecast period. With the increasing preference for natural and sustainable products, the market’s trajectory remains positive. The food and beverage industry is anticipated to experience substantial growth due to the demand for hemp oil, which is rich in essential fatty acids and known for its health benefits. Additionally, the automotive sector’s adoption of lightweight materials, including hemp-based bio-composites, will contribute to market expansion.

However, the complex regulatory landscape poses a challenge to market participants. Companies operating in this sector must navigate varying regulations across countries, and even within the same nation, which can be cumbersome for compliance.

Industrial Hemp Market Key Players:

Leading the charge in the global industrial hemp market are:

• Hemp Oil Canada
• Hemp Inc.
• Konoplex Group
• BAFA
• Hemp Poland
• Dun Agro
• HempFlax BV

These key players, alongside others in the market, are actively capitalizing on the growing demand for industrial hemp and its derivative products. Their contributions are shaping the industry landscape and driving innovation in the sector.

In conclusion, the global industrial hemp market is on a trajectory of substantial growth, driven by factors such as diverse applications, consumer health consciousness, automotive sector demand, and evolving regulations. Key players are well-positioned to leverage these opportunities and contribute to the industry’s development.

To get market data, market insights, financial statements and a comprehensive analysis of the Global Industrial Hemp Market, please Contact Verified Market Research®.

Based on the research, Verified Market Research® has segmented the global Industrial Hemp Market into Type, Application, Sources, And Geography.

• Industrial Hemp Market, by Type
  • Hemp Seed
  • Hemp Seed Oil
  • Hemp Fiber
  • CBD Hemp Oil
• Industrial Hemp Market, by Application
  • Food
  • Beverages
  • Personal Care Products
  • Textiles
  • Pharmaceuticals
• Industrial Hemp Market, by Sources
  • Organic
  • Conventional
• Industrial Hemp Market, by Geography
  •  North America
    • U.S
    • Canada
    • Mexico
  •  Europe
    •  Germany
    • France
    • U.K
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • Rest of Asia Pacific
  •  ROW
    • Middle East & Africa
    • Latin America

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7 Leading Industrial Hemp Companies producing assured quality hemp for industrial purposes

Visualize Industrial Hemp Market using Verified Market Intelligence -:

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VMI provides a holistic overview and global competitive landscape with respect to Region, Country, Segment, and Key players of your market. Present your Market Report & findings with an inbuilt presentation feature saving over 70% of your time and resources for Investor, Sales & Marketing, R&D, and Product Development pitches. VMI enables data delivery In Excel and Interactive PDF formats with over 15+ Key Market Indicators for your market.

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Our 250 Analysts and SMEs offer a high level of expertise in data collection and governance use industrial techniques to collect and analyze data on more than 15,000 high impact and niche markets. Our analysts are trained to combine modern data collection techniques, superior research methodology, expertise and years of collective experience to produce informative and accurate research.

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