PR Newswire | Nov 16, 2021 02:04PM EST

Cannabis Packaging Sector

11/16 13:03 CST

Advanced Container Technologies - One of the Fastest Growing Companies in Cannabis Packaging SectorCompany reports revenue gains that significantly outperform sector growth and key competitors CORONA, Calif., Nov. 16, 2021

CORONA, Calif., Nov. 16, 2021 /PRNewswire/ -- Advanced Container Technologies, Inc (Ticker: ACTX), reported that its revenue gains have outperformed the market and the growth of its key competitors.

According to a new report, the Global Cannabis Packaging Market is expected to reach USD 297.51 billion by 2026, with a CAGR of 22.59%. The report states that cannabis packaging is "critical" due to the necessity of meeting various state's regulations and child-resistance requirements.

Major players in the sector include Kushco, Greenlane, and ACTX.

In recent filings, KushCo reported third-quarter 2021 revenue growth that equaled a 27% year-over-year increase.

Greenlane announced revenue growth of 7.1% for second-quarter 2021 and third-quarter revenue up 16% after completing a merger with KushCo.

ACTX announced its year-over-year revenues, which show a 209% increase over the prior period.

"We believe that we are in a stronger position than most of our competitors who are hampered by enormous operating expenses and dwindling growth rates," says Douglas Heldoorn, CEO of Advanced Container Technologies. "With our focus on remaining nimble and keeping costs and operating expenses as low as possible, we are in an excellent position to continue to grow rapidly outperform our competition in many key indicators."

ACTX was formed to provide vertically integrated solutions for the cannabis industry. The company provides a variety of products including a wide range of packaging options for virtually every type of cannabis and hemp product, branding solutions, controlled environment cultivation systems, lighting, nutrients, and a variety of other essential items.

For information, contact:

Advanced Container Technologies(951) 381-2555 www.advancedcontainertechnologies.com.

Forward-Looking StatementsThis 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.

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SOURCE Advanced Container Technologies, Inc.