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Growth driven by rising consumption of cannabis for medical purposes, technological advancements in the packaging industry, and increasing legalization of cannabis across the globe.
The global biodegradable packaging market is expected to reach USD 21.60 billion by 2026 according to a new study published by Polaris Market Research.
Functionality, sustainability and shelf appeal will continue to be key factors in the choice of packaging in this market, with formats made from plastic continuing to edge out other materials in most cases.
A report from MarketsandMarkets finds that the market is witnessing high growth owing to the increase in demand for lightweight, convenient and cost-effective packaging products and solutions for food and beverage applications.