Cannabis Packaging Market Size
Rising demand for recreational and medical cannabis products in many forms like flowers, leaves, concentrates, etc. for consumption is expected to drive a CAGR of over 11.7% from 2022 to 2028, thereby valuing the size of cannabis packaging market at over USD 151 million in 2021. With a projected CAGR of 11.1% over the next years, the industry size is estimated to exceed 60,722.5 tons by 2028 in terms of volume.
Further projected to boost market expansion in not too distant future is the growing acceptability and legalization of cannabis in several nations. The rising demand for cannabis in North America together with growing consumption of cannabis owing to the COVID-19 epidemic worldwide are expected to present fresh development chances for the cannabis packaging industry.
Demand for cannabis packaging is expected to be driven by the fast legalization of cannabis use in the United States and the current free environment in Canada. With a valid prescription, 37 states in the United States let the use of cannabis for medical purposes for the patients. Development in the North America cannabis market shows that the area is projected to have quick expansion during the research period.
| Report Attribute | Details |
|---|---|
| Base Year | 2021 |
| Cannabis Packaging Market Size in 2021 | 151 Million (USD) |
| Forecast Period | 2022 to 2028 |
| Forecast Period 2022 to 2028 CAGR | 11.7% |
| 2028 Value Projection | 356. 28 Million (USD) |
| Historical Data for | 2018 to 2021 |
| No. of Pages | 250 |
| Tables, Charts & Figures | 387 |
| Segments covered | Material, Type, Cannabis Form |
| Growth Drivers |
|
| Pitfalls & Challenges |
|
Using the growing consumption of cannabis for recreational use among the younger generation is a big trend in the cannabis packaging market. Given the abundance of cannabis suppliers and significant brand saturation among the new entrants, packaging is rather important in helping them to develop their brand image.
Cannabis Packaging Market Analysis
Over the projection period, the plastics segment is predicted to expand with a CAGR of 11.8%. Most packaging products are produced from plastics, which also offer simplicity of design and economy of cost. They are made into closures, pouches, bottles, containers, and other packaging goods.
At a lower cost than other materials including metal, glass, and paper, plastics packaging has several qualities including easy moldability, strength, and excellent barrier against external conditions. For several cannabis forms including flowers, tinctues, oils, tablets, and patches, plastic packaging is one of the recommended packing options.
With a 13.2% share in 2021, the segment on flexible packaging type is predicted to reach USD 48,250.8 thousand by 2028. Products made from flexible packaging, such pouches made of plastic or paper, can satisfy the strict guidelines for cannabis packaging. The low-cost product offers and the absence or removal of important participants from the market due to strict regulation of cannabis have helped several suppliers worldwide to acquire a sizable portion in the flexible packaging market.
From 2022 to 2028, the category on cannabis flowers is expected to have the highest CAGR—at 12%. Legalizing the product for recreational use by several nations including the United States and Canada has helped to increase demand for cannabis flowers. Recreational cannabis is the usage of several kinds of cannabis for personal enjoyment rather than medicinal intent. Dry types of marijuana—which comprise a shredded green and brown combination of flowers, stems, leaves, and seeds—are packaged using recreational cannabis packaging.
Over the next forecast period, North America's cannabis packaging market share is expected to rise at a noteworthy 11.9%. The regional market has improved recently with the legalization of cannabis use for recreational purposes in many U.S. states including California, Michigan, Colorado, Florida, Nevada, Washington, Oregon, Massachusetts, Arizona, and Illinois. Along with established medical cannabis programs, additional states around the United States are also supporting the medical use of cannabis including Arkansas, Alaska, Connecticut, Louisiana, Hawaii, Maryland, Montana, Minnesota, Rhode Island, Vermont, and Utah.
The regional cannabis packaging market is driven by expansion in the North America cannabis sector together with the existence of several packaging firms. The extensive farming and acceptance of cannabis in nations like the United States and Canada help to explain North American region's growth.
Several small, medium & international players are operating in the global cannabis packaging market. Cannabis packaging companies adopt various key growth strategies, such as investments, expansion & new product launches, to gain a higher market share.
Cannabis Packaging Market Share
Companies including
- Berry Global Inc.
- Pollen Gear
- Kaya Packaging
- Green Rush Packaging
- KushCo Holdings Inc.
- Drug Plastics Group
- Cannaline Cannabis Packaging Solutions
- Impak Corporation
are some of the leading players in the cannabis packaging industry. Other players operating in the global market include
- N2 Packaging
- Dymapak
- Diamond Packaging
- Max Bright Packaging Ltd.
- Packaging Bee
The cannabis packaging market report includes in-depth coverage of the industry with estimates & forecasts in terms of volume in kilo tons revenue in USD million from 2022 to 2028 for the following segments
By Material
- Plastics
- Paper & paperboard
- Glass
- Metal
- Others
By Type
- Flexible
- Rigid
By Cannabis Form
- Flowers
- Concentrates
- Edibles
- Others
By Region
- North America
- U.S.
- California
- Colorado
- Washington
- Oregon
- Canada
- U.S.
- Europe
- Netherland
- Czech Republic
- Asia Pacific
- Australia
- Thailand
- Latin America
- Uruguay
- Costa Rica
- Colombia
- Argentina
- Middle East & Africa
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