Steve Katz, Associate Editor01.24.23
Remember when the only way to acquire cannabis products was through purchasing on the black market? Pepperidge Farm remembers. But seriously, in most places in North America, long gone are the days when cannabis users have to resort to sketchy black or grey market deals. When it comes to cannabis and cannabis packaging, the market is now green – the color of money.
The US cannabis packaging market was valued at $842.7 million in 2021 and is expected to grow at a compound annual growth rate (CAGR) of 30.6% from 2022 to 2030, according to Grandview Research. The firm says the market is witnessing significant growth, owing to the increasing legalization of cannabis usage in US states. As of today, the recreational use of cannabis has been legalized in 21 US states, Guam, the Northern Mariana Islands, and Washington DC, while a plethora of other states and US territories have decriminalized its use, perhaps paving the way for further legalization. Internationally, more dominos continue to fall. In North America, both Mexico and Canada have legalized cannabis nationwide. Many cannabis experts believe it’s only a matter of time until cannabis is legalized at th
The US cannabis packaging market was valued at $842.7 million in 2021 and is expected to grow at a compound annual growth rate (CAGR) of 30.6% from 2022 to 2030, according to Grandview Research. The firm says the market is witnessing significant growth, owing to the increasing legalization of cannabis usage in US states. As of today, the recreational use of cannabis has been legalized in 21 US states, Guam, the Northern Mariana Islands, and Washington DC, while a plethora of other states and US territories have decriminalized its use, perhaps paving the way for further legalization. Internationally, more dominos continue to fall. In North America, both Mexico and Canada have legalized cannabis nationwide. Many cannabis experts believe it’s only a matter of time until cannabis is legalized at th
Continue reading this story and get 24/7 access to Label and Narrow Web for FREE
FREE SUBSCRIPTION
