Increased legalization and a growing demand for medical and recreational cannabis across the world has the legal marijuana market size expecting to reach $73.6 billion by 2027, says a new report published by Grand View Research, Inc. The benefits and opportunities offered by this global industry are profound, and according to Global Cannabis Market Prediction, the demand for a sophisticated cannabis packaging industry has begun to take precedence.
The U.S. has yet to legalize cannabis on a national level, but strict childproof packaging regulations have been attached to cannabis, inadvertently producing excessive packaging standards. A joint report by BDS Analytics and Arcview Market Research confirms U.S. companies sold $8.5 billion worth of cannabis products in 2018.These products tend to come in plastic packaging, which is the most affordable material to meet these federal requirements, and can range from four to 30 times the weight of the products they contain.