Cannabis Packaging Market Expected To Grow With USD 9,061.40 Million By 2030


 San Francisco, 3 June 2024: The Report Cannabis Packaging Market Size, Share & Trends Analysis Report By Type (Rigid, Flexible), By Material, By Product, By Application, By Region, And Segment Forecasts, 2024 - 2030

The global cannabis packaging market size is expected to reach USD 9,061.40 million by 2030, according to a new report by Grand View Research, Inc., expanding at a CAGR of 22.7% from 2024 to 2030. The growing legalization of cannabis consumption for medical and recreational use is contributing to market growth. Cannabis products are sensitive to factors, such as light, moisture, and air. Packaging solutions that provide adequate protection against these elements are crucial to maintaining the quality and potency of the products. Furthermore, cannabis products are marketed in various forms, such as flowers, edibles, concentrates, and topicals. Each product format may require a specific packaging solution to address storage and usage requirements. In January 2024, NBi FlexPack launched child-resistant pouches with high barrier resistance films designed to pack cannabis products, such as gummies, flower, or other edibles.

The rapid growth of the cannabis industry has spurred innovation in packaging design, sustainability, and functionality, leading to patent filing related to cannabis packaging products. For instance, U.S.-based Tin Canna develops cannabis packaging products under the Eco Packaging Solutions portfolio. Its packaging is compliant with the packaging recycling regulations, which makes it a sustainable packaging option. Its U.S. Patent 15/013,375: Titled "Cannabis Vaporizer Cartridge with Integrated Dose Metering and Tracking Features," was filed on October 29, 2020, and was published on May 31, 2023. Moreover, environmental awareness and sustainability are shaping the preferences of cannabis-selling companies as well as cannabis packaging manufacturers.

This includes the development of sustainable materials (such as paperboard-based packaging) or alternatives to plastics (such as eco-shell developed by Spark Sourcing). The market players are undertaking several strategic initiatives, such as new product developments, expansions, joint ventures, and mergers & acquisitions, to increase their market share. For instance, in October 2023, Brandmydispo, a U.S.-based packaging company, introduced new technologically advanced cannabis pouches and cannabis custom packaging solutions equipped with near-field communication (NFC) technology, real-time freshness indicators, and QR codes. However, the guidelines concerning the usage of cannabis and cannabis packaging products vary from one country to another, thus creating limitations for market expansion across different countries.

Access Research Report of Cannabis Packaging Market @ https://www.grandviewresearch.com/industry-analysis/cannabis-packaging-market-report

Cannabis Packaging Market Report Highlights

  • Rapidly developing pharmaceutical industry for the production of cannabis-inclusive medicines and growing legalization of cannabis are expected to drive market growth
  • The plastics segment dominated the global market in 2023 due to high demand for plastics as they are lightweight, shatterproof, and more cost-effective compared to glass and metal
  • Unlike glass jars, plastic containers are less prone to damage during their transportation and storage
  • North America dominated the global market in 2023. The legalization of both medical use and recreational use of cannabis in various jurisdictions across the U.S. and Canada has propelled the demand for innovative and compliant packaging solutions for cannabis products, thereby supporting regional market growth

Cannabis Packaging Market Report Scope

Report Attribute

Details

Market size value in 2024

USD 2,651.04 million

Revenue forecast in 2030

USD 9,061.40 million

Growth rate

CAGR of 22.7% from 2024 to 2030

Historical data

2018 - 2022

Forecast period

2024 - 2030

List of Key Players in the Cannabis Packaging Market

  • Greenlane Holdings, Inc.
  • L. CLARK
  • Kaya Packaging
  • KacePack
  • Cannaline Cannabis Packaging Solutions
  • Dymapak
  • Diamond Packaging
  • N2 Packaging Systems LLC
  • Green Rush Packaging
  • Elevate Packaging
  • Berry Global Inc.
  • RXD Co
  • MMC Depot
  • Norkol Packaging LLC (Grow Cargo)
  • CurTec Nederland B.V.
  • IMPAK CORPORATION
  • Origin Pharma Packaging
  • SANNER
  • Guangdong Bowe Packaging Co., Ltd.
  • Seidel GmbH & Co. KG
  • Amcor Plc
  • GPA Global

Access Press Release of Cannabis Packaging Market @ https://www.grandviewresearch.com/press-release/global-cannabis-packaging-market

 

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