Cannabis Packaging Market worth USD 3,534.2 million by 2030

The Market Statsville Group (MSG) publishes the new report on the "Cannabis Packaging Market by Type (Rigid Packaging and Flexible Packaging), by Packaging Material (Glass, Metal, Plastic, and Cardboard Containers), by Region – Global Share and Forecast to 2030". The global cannabis packaging market size is projected to register a CAGR of 24.3% to grow USD 3,534.2 million by 2030 from USD 620.2 million in 2021. Medicinal Cannabis has witnessed significant usage in recent years. Still, recreational cannabis usage is anticipated to outpace the demand of medical needs with growing public support for the parent industry over the forecast period. Companies offering medicinal packaging can be noted to stress on cleanroom manufacturing facilities to comply with strict pharmaceutical standards. Medicinal cannabis packaging has further comprehended electrically driven manufacturing processes due to its aggressive demands of cleanroom facilities.  

The packaging of this medical cannabis is growing, thus boosting various companies to offer holistic solutions to its manufacturers. The increased demand for cannabis products in medical and recreational products has directly impacted the growth of the studied market. The COVID-19 pandemic has played a major role in increasing the consumption of cannabis products. Cannabis products are used in the medical field to increase appetite, reduce anxiety, and relieve imminent pain. The COVID-19 pandemic took a heavy toll on emotional health, with people being compelled to stay at home and completely cut off from the external world. This has directly contributed to the increased use of cannabis products driving the ancillary demand for cannabis packaging products.

Scope of Global Cannabis Packaging Market

Segments of the cannabis packaging market are type, packaging material, and region.

• By Type (Rigid Packaging and Flexible Packaging)
• By Packaging Material (Glass, Metal, Plastic, and Cardboard Containers)
• By Region (US, Canada, Mexico, UK, Germany, France, Italy, Spain, China, Japan, India, South Korea, Southeast Asia, Australia, Saudi Arabia, UAE, South Africa, Qatar, Nigeria, Israel, Brazil, Argentina, Peru)

Plastic hold the largest market share by packaging material

The global cannabis packaging market is segmented into glass, metal, plastic, and cardboard containers based on packaging material. In 2021, the plastics segment accounted for the largest market share of 54.5% and was projected to register a CAGR of 23.8% from 2022 to 2030. Plastic packaging is preferred for several cannabis consumption forms, like flowers, tinctures, oils, patches, and pills. Plastic can meet the various challenges encountered by cannabis manufacturers. Dried flower is most commonly placed by hand into a plastic jar with a child-resistant lid, be it screw-top or push-top.

Cannabis-based products are being packaged in small quantities, due to which they generate significantly large volumes of packaging waste. The lower-weight plastic has been able to address this concern as well. This was, further, backed by Hansen, which launched its lightweight jars in 2019. According to the company, the jars and lids weighed only 18 gms, and the company estimates that 10 million containers sold could save up to GBP 1.2 million. Flowers, pre-rolls, and cartilage containers are all packaged in rigid plastic containers.

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In 2021, North America had the largest share of the cannabis packaging market

Based on the regions, the global cannabis packaging market has been segmented across North America, Asia-Pacific, Europe, South America, and the Middle East & Africa. In 2021, North America accounted for the highest market share of 81.1% in the global cannabis packaging market and was anticipated to maintain its dominance throughout the forecast period. Growth in North America is attributed to the widespread adoption and farming of cannabis in countries such as the United States and Canada. Cannabis packaging is required in various forms to safeguard the flower's integrity, while airtight containers allow the curing process to progress over time. Furthermore, in the next years, increased research and development (R&D) activities in the medical applications of cannabis are projected to generate significant prospects for both incumbent players and new entrants.

In the North American region, there has been a substantial increase in the usage of cannabis for medical purposes. Research and product development have grown since cannabis was legalized in countries like the United States and Canada. The FDA has recognized the promise of cannabis and has made significant contributions to the industry's growth.

This research report includes a study on the development and marketing strategies, along with a study on the product portfolios and winning strategies of the leading companies operating in the cannabis packaging market. It also consists of the profiles of leading companies such as KushCo Holdings Inc., Kaya Packaging, Cannaline Cannabis Packaging Solutions, N2 Packaging Systems, Dynapack, Diamond Packaging, Greenlane Holdings Inc., JL Clarks Inc., Green Rush Packaging, Elevate Packaging Inc., and Berry Global Inc.

Browse complete report: https://www.marketstatsville.com/cannabis-packaging-market

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