CORONA, Calif., Dec. 16, 2021 /PRNewswire/ — Advanced Container Technologies, Inc (Ticker: ACTX), reported the global cannabis packaging market is expected to reach $14.34 Billion by 2028, according to analysis by Reports and Data.
The analysis forecasts a 1700% rise in cannabis users by the end of 2026, with packaging likely observing a whopping 26.42 % growth in the forecasted period.
However, there are significant barriers to entry in the cannabis packaging market, giving an advantage to companies already established in the sector. These barriers include developing a thorough knowledge of the myriad of regulations that govern cannabis packaging (which differ in each state), and child-resistance requirements.
For cannabis brands, getting packaging right is critical to their success, yet highly challenging. Numerous federal, state, and local agencies and regulatory authorities have oversight authority over cannabis products. And each imposes its own rules.
Furthermore, there exists a wide variety of packaging types in the sector, from flexible bags, rigid cardboard containers, and glass jars, to solutions for pre-rolls, waxes, tinctures, infused food products, and more. Ultimately, even companies with packaging experience in other markets may find it challenging to enter the cannabis sector.
Doug Heldoorn, CEO of Advanced Container Technologies, said he finds the market ripe with opportunities.
“We have an established presence in the cannabis market along with patented products and a vast array of customizable solutions,” Heldoorn commented. “Additionally, we have expertise in cannabis regulations, so our packaging not only looks great and sells more products, but is also fully compliant.”
For more information on Advanced Container Technologies, call: (951) 381-2555 or visit: www.advancedcontainertechnologies.com.
Advanced Container Technologies, Inc. provides packaging solutions, controlled environment farms called GrowPods, lighting equipment, nutrients, humidity control inserts, lighters, accessories, plus private labeling and branding services.
This release includes predictions or information considered “forward-looking” within securities laws. These statements represent Company’s current judgments but are subject to uncertainties that could cause results to differ. Readers are cautioned to not place undue reliance on these statements, which reflect management’s opinions only as of the date of this release. The Company is not obligated to revise any statements in light of new information or events.
SOURCE Advanced Container Technologies, Inc.