Cannabis Packaging Market Size
Cannabis Packaging Market size was valued at over USD 151 million in 2021 and is estimated to grow at a CAGR of above 11.7% from 2022 to 2028 owing to the rising demand for recreational & medical cannabis products in various forms such as flowers, leaves, concentrates, etc. for consumption. The industry size is expected to cross 60,722.5 tons by 2028 in terms of volume with an anticipated CAGR of 11.1% through the forecast period.
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The increasing acceptance and legalization of cannabis in several countries is further expected to drive market growth in the near future. The surging demand for cannabis in North America along with increasing usage of cannabis owing to the COVID-19 outburst across the globe is estimated to offer new growth opportunities for the cannabis packaging market.
The rapid legalization of cannabis consumption in the U.S. and the existing free environment in Canada are anticipated to drive the demand for cannabis packaging. 37 states in the U.S. allow the use of cannabis for medical purpose for the patients with a proper prescription. Growth in the North America cannabis market indicates that the region is expected to witness rapid development during the study market.
Cannabis Packaging Market Report Attributes
| 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 |
- Increasing legalization of cannabis for medical purposes
- Rising usage of cannabis for recreational purposes in North America
|
| Pitfalls & Challenges |
- Stringent regulation related to cannabis packaging
- Stringent regulations on the usage of cannabis
|
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A major trend in the cannabis packaging sector is to tap into the rising consumption of cannabis for recreational purpose amongst the younger population. Packaging plays a major role among the emerging players to strengthen their brand image owing to the presence of large number of cannabis suppliers and high brand saturation amongst players.
Cannabis Packaging Market Analysis
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The plastics segment is expected to grow at a CAGR of 11.8% during the forecast timeframe. Plastics are used in the manufacturing of the majority of packaging products and provide ease of design & cost-effectiveness. They are used to produce containers, bottles, closures, pouches, and other packaging products.
Plastics packaging offers various properties such as easy moldability, strength, and effective barrier against external environments at a lower cost compared to other materials such as metal, glass, and paper. Plastic packaging is one of the preferred packaging choices for different cannabis forms such as flowers, tinctures, oils, pills, and patches.
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The flexible packaging type segment accounted for a 13.2% share in 2021 and is expected to reach USD 48,250.8 thousand by 2028. Flexible packaging products such as pouches produced from plastic or paper can meet the stringent regulations on packaging cannabis. Several suppliers across the globe have been able to grab a significant share in the flexible packaging market owing to the low-cost product offerings and the absence or withdrawal of major players from the market due to stringent regulation of cannabis.
The cannabis flower segment is projected to experience the highest CAGR of 12% from 2022 to 2028. Several countries, such as the U.S. and Canada, have started the legalization of the product for recreational usage, which has enhanced the demand for cannabis flowers. The recreational use of cannabis involves the use of various forms of cannabis for personal enjoyment instead of medical purpose. Packaging for recreational cannabis is used for the packaging of dry forms of marijuana, which include a shredded green & brown mix of flowers, stems, leave, and seeds.
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North America cannabis packaging market share is anticipated to grow at a significant rate of 11.9% over the forecast timeframe. The legalization of cannabis usage for recreational purpose in various U.S. states, such as California, Michigan, Colorado, Florida, Nevada, Washington, Oregon, Massachusetts, Arizona, and Illinois, have enhanced the regional market in the last few years. Moreover, other states across the U.S. are also encouraging the medical use of cannabis, such as Arkansas, Alaska, Connecticut, Louisiana, Hawaii, Maryland, Montana, Minnesota, Rhode Island, Vermont, and Utah, along with established medical cannabis programs.
Growth in the North America cannabis industry along with the presence of several packaging companies is driving the regional cannabis packaging market. Growth in North America region is attributed to the widespread farming and adoption of cannabis in countries such as the U.S. and Canada.
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
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By Material
- Plastics
- Paper & paperboard
- Glass
- Metal
- Others
By Type
By Cannabis Form
- Flowers
- Concentrates
- Edibles
- Others
By Region
- North America
- U.S.
- California
- Colorado
- Washington
- Oregon
- Canada
- Europe
- Netherland
- Czech Republic
- Asia Pacific
- Latin America
- Uruguay
- Costa Rica
- Colombia
- Argentina
- Middle East & Africa
