Cannabis Packaging Market Size Volume, Share, Demand Growth, Business Opportunity by 2030 – The Bollywood Ticket

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the global cannabis packaging market the size was estimated to grow $3,534.2 million by 2030 from 620.2 million USD in 2021increasing at a CAGR of 24.3% from 2022 to 2030. Growing demand and use of medical and recreational cannabis products for consumption and growing legalization and certification of cannabis in various countries are likely to drive the global cannabis packaging market.

The market was plagued by the non-uniform legal status of cannabis around the world, due to which major packaging companies stayed away from the market. However, larger packaging companies are entering the market with increasing legalization. Berry Global was the top player to enter the cannabis packaging market in 2018, and the other top players are expected to enter the market with unprecedented growth. Currently, several players operate in the studied market, such as Green Rush and JL Clarks.

Additionally, the cannabis packaging market is still a maturing industry due to the extensive restrictions on the free distribution of cannabis. Canada was the first country to fully legalize the growth, consumption and sale of cannabis, with Uruguay, Georgia and South Africa having similar but significantly more restrictive national legalization models in place.

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Global Cannabis Packaging Market Definition

Cannabis: Cannabis is a psychoactive drug from the cannabis plant, and cannabis is also known as marijuana. For centuries, the cannabis plant has been used for recreational and entheogenic purposes and in various traditional medicines.

Cannabis packaging: The cannabis packaging market deals with several rigid and flexible packaging formats, including childproof containers, barrier bags, flexible films, among others. The packaging market demand is driven by the consumption of packaging for recreational and medicinal purposes.

covid19 Global Cannabis Packaging Market Impact

The COVID-19 pandemic has had a significant impact on several industries, causing ripples in the supply chain, but has been beneficial for the growth of the market studied. Cannabis was labeled an “essential item” during the COVID-19 pandemic, allowing its distribution even during lockdowns. After government authorities in several regions deemed cannabis businesses “essential” operations, states with legal medical or recreational stores were opened amid the pandemic due to its operating status. Continued retail operations enabled growth in cannabis sales which, in turn, positively impacted the packaging market.

Additionally, the start of 2020 brought with it problems that plastic manufacturers are facing amid the coronavirus outbreak. For example, in March 2020, the British Plastics Federation (BPF) surveyed its members to describe the impact of the coronavirus pandemic on plastics manufacturing in the UK.

During the pandemic, the increased demand for cannabis products has led to the geographic expansion of key players targeting the emerging set of customers. For example, in April 2021, Her Highness, a luxury cannabis brand with a presence in several states in the United States, announced its expansion into Canada and other countries. The company said its strategic expansion meets increased demand in the pandemic era.

Global Cannabis Packaging Market Dynamics

Drivers: Cannabis legalization in various North American countries

Cannabis has been cultivated, sold and distributed through illegal channels for several years. The legalization of the product channeled sales through appropriate channels, prompting systematic governance of the industry. The legalized distribution of products across countries has had a direct impact on the need for sophisticated packaging formats to enhance brand image and extend shelf life, among other requirements.

The consumption of medical cannabis has been legalized for several years in countries such as the United States. But the legalization of cannabis in Canada and several states in the United States is driving the growth of the market studied. Canada already legalized cannabis for medicinal and recreational purposes in 2018. The United States is rapidly catching up with several state governments by legalizing use alongside public pressure and curbing the illegal distribution of the product.

For example, in Arizona, voters approved Proposition 207 in November 2020, which legalized cannabis for adult use. The state provided licenses to operators who allowed adults to buy cannabis 80 days after voters approved the initiative. The new legalization allows buyers to purchase a maximum amount of one ounce per transaction from regulated sources. There are 1.37 operational dispensaries in Arizona per 100,000 population. The increased demand for the products should boost retail sales.

Constraints: Strict Cannabis Packaging Regulations

The regulatory stringency should provide some degree of flexibility over the forecast period so as not to stifle innovation in the cannabis packaging industry, but currently poses an immense challenge. Even with this recent legitimization of cannabis in several countries, several strict standards must be followed for the packaging of cannabis products. For example, under California state regulations, which were codified in Proposition 64, the law that legalizes adult use of cannabis in the state, cannabis packaging was defined with requirements different.

In addition to labeling requirements, the law also provides instructions for cannabis packages sold at a dispensary in California. The requirements are listed below. These stringent practices have created a challenge for packaging solution providers to maintain compliance.

Additionally, cannabis packaging standards differ from country to country and state to state in some cases. The lack of uniform regulations in countries like the United States, where state governments actively legalize marijuana, but the product continues to be illegal at the federal level, has created immense confusion among cannabis sellers and their packaging suppliers.

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Segmentation of the global cannabis packaging market

The cannabis packaging market has been categorized based on type, packaging material, and region.

By Outlook type (Sales, million USD, 20172030)

  • Rigid packaging
  • Soft packaging

By Packaging Materials Outlook (Sales, million USD, 20172030)

  • Glass
  • Metal
  • Plastic
  • Cardboard containers

Outlook by region (Sales, million USD, 20172030)

  • North America (United States, Canada, Mexico)
  • South America (Brazil, Argentina, Colombia, Peru, Rest of Latin America)
  • Europe (Germany, Italy, France, United Kingdom, Spain, Poland, Russia, Slovenia, Slovakia, Hungary, Czech Republic, Belgium, Netherlands, Norway, Sweden, Denmark, Rest of Europe)
  • Asia Pacific (China, Japan, India, South Korea, Indonesia, Malaysia, Thailand, Vietnam, Myanmar, Cambodia, Philippines, Singapore, Australia and New Zealand, Rest of Asia Pacific)
  • The Middle East and Africa (Saudi Arabia, United Arab Emirates, South Africa, North Africa, Rest of MEA)

By Type, Rigid Packaging Segment Holds Largest Market Share

The global cannabis packaging market is segmented into rigid and flexible packaging on the basis of type. The rigid packaging segment of the global cannabis packaging market held the largest market share of 78.2% in 2021. Rigid packaging includes plastic bottles, glass jars, and metal cans. Although there are different types of materials used for cannabis packaging, plastic is the most commonly used material for cannabis packaging. Two main reasons involve product preservation and the strict regulatory environment of cannabis packaging.

Another advancement that has greatly expanded the evolution of cannabis packaging is the use of airtight containers. Although plastic wraps are convenient storage, they don’t completely keep cannabis airtight and fresh. Therefore, the need for airtight cannabis packaging arose quickly. This led to the invention of nitrogen-sealed cannabis packaging. The cannabis hermetic packaging market continues to grow every day. A player like JohnsByrne has been an important player in the evolution of cannabis packaging. The most significant advancement of the EPIK LOK packaging solution is 16CFR Part1700 tested and CR certified. EPIK LOK is an innovative CR packaging solution that provides cannabis businesses with maximum surface area for aesthetic and decorative elements while ensuring child safety.

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Europe represents the fastest growing region

North America, Asia-Pacific, Europe, South America, Middle East and Africa are the regions into which the global cannabis packaging market has been classified. Europe will have the highest CAGR of 25.5% in the global cannabis packaging market during the forecast period. Cannabis legalization is accelerating in Europe, with several significant developments in the last quarter of 2020. The European Court of Justice ruled in November 2020 that CBD is not a narcotic under EU law, opening the way to future CBD markets. A few weeks later, the United Nations finally recognized the medical potential of cannabis by removing the plant and its derivatives from Schedule IV of the Single Convention on Narcotic Drugs, with all EU countries voting in favor except Hungary.

According to a study published in April 2020 on Pan European Networks Ltd, a European health website, researchers will conduct an anonymous survey of medical cannabis patients about their mental and physical health, and examine changes in frequency of use. patient cannabis, dosage and route of administration based on COVID-19 related closures and updates. As a result, the COVID-19 pandemic is expected to offer significant market expansion potential.

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Main market players

The cannabis packaging market is slightly concentrated in nature with few global players operating in the market such as KushCo Holdings Inc., JL Clarks Inc., Kaya Packaging, Cannaline Cannabis Packaging Solutions, Dynapack, Diamond Packaging, Greenlane Holdings Inc., N2 Packaging Systems, Green Rush Packaging, Elevate Packaging Inc., and Berry Global Inc. Each company follows its business strategy to achieve maximum market share.

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