Advanced Container Technologies - One of the Fastest Growing Companies in Cannabis Packaging Sector
Company reports revenue gains that significantly outperform sector growth and key competitors
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.
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
SOURCE Advanced Container Technologies, Inc.
Company Codes: OTC-PINK:ACTX
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