GVR Report cover Cannabis Packaging Market Size, Share & Trends Report

Cannabis Packaging Market Size, Share & Trends Analysis Report By Material, By Product, End Use Analysis, Regional Outlook, Competitive Strategies, And Segment Forecasts, 2019 To 2027

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  • Report ID: GVR7060
  • Format: Electronic (PDF)
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The global cannabis packaging market has been witnessing exponential demand from the past few years on account of the rising recreational applications of cannabis. In addition, increasing the legalization of cannabis, particularly in North American countries, is principally attributing to the mushrooming growth of the market.

In 2013, Uruguay legalized the production of cannabis for recreational purposes. Further, in October 2018, Canada legalized the cultivation, possession, acquisition of cannabis, and its by-products. On the same line, several U.S. states and countries, including Georgia and South Africa, legalized the application of cannabis in various products. Legality regarding production and application varies as per country. The developing market for cannabis-infused products across the globe is anticipated to prompt other countries to legalize cannabis production, which in turn, expected to fuel the demand for cannabis packaging in the near future.

Cannabis and cannabis-infused products need to adhere to stringent regulations and guidelines enforced by various regulatory bodies across the world. Due to this factor, packaging has given prime importance by the cannabis manufacturers. As per a few basic guidelines, cannabis packaging needs to be tamper-evident, child-resistant, re-sealable, and should be opaque in case of edible cannabis products. These stringent regulations are anticipated to act as market restraint for the growth of cannabis packaging over the forecast period.

Cannabis finds multiple applications in end-use industries; among these, it is widely utilized for the manufacturing of medicinal products. Cannabis used to treat pain, muscle spasm, nausea, weight loss, seizure disorder, and others. Medical cannabis can be administered through various forms, including capsules, lozenges, tinctures, dermal patches, oral or dermal sprays, cannabis edibles, and vaporizing or smoking dried buds. These products are packaged in various packaging types, including jars, bottles, bags & pouches, tubes, metal tins.

The medicinal application of cannabis is growing significantly across the globe due to its health benefits. Various countries, including Australia, Canada, Chile, Colombia, Germany, Greece, Israel, Italy, the Netherlands, Peru, Poland, Portugal, and Uruguay, have permitted the use of cannabis for medical applications. In addition, over 30 states in the U.S. allowed the cannabis use of cannabis-based drugs. Therefore, increasing the use of cannabis-based medicines across the globe is expected to fuel the demand for cannabis packaging over the coming years.

From the past few years, cannabis-infused food & beverage products are being extensively launched across the world. For instance, CBD infused relaxation beverages that provide relaxation from anxiety are witnessing a considerable upsurge, particularly in a developed region such as Europe and North America. Furthermore, CBD infused nutritional supplements, sparkling water, confectionary products, and bakery products are being increasingly launched in the market and are gaining considerable traction from the consumers.

In addition, top food & beverage companies, including Ben & Jerrys, Coca Cola, and Anheuser-Busch, are anticipated to enter into CBD infused product market, which will further propel the demand for cannabis. Thus, the expanding food & beverage application of cannabis is anticipated to expand the market and expected to offer lucrative opportunities to the cannabis packaging manufacturer over the forecast period.

The global cannabis packaging market is segmented on the basis of material, product, end-use, and region. The material segment is further divided into paper, plastic, metal, glass. Among these, the plastic material segment accounted for the largest share in 2018. Flexibility and opaqueness of the plastic contributed to the highest share of the plastic material segment in 2018. However, other material segments, including paper and glass, are also expected to register considerable growth owing to the rising demand for sustainable packaging material.

Based on the product, the cannabis packaging market is bifurcated into jars, bottles, folding cartons, bags & pouches, tubes, metal tins, and others. Jars are usually preferred for the packaging of cannabis leaves and buds. Various types of bags & pouches including zip-top bags, gusset bags, zipper pouch bags, heat seal bags are witnessing considerable traction in demand owing to their flexibility.

On the basis of end-use, the cannabis packaging market is further sub-segmented into medicinal, recreational, and others. Among these, the medicinal end-use segment is expected to grow at the fastest rate over the forecast period. Growing consumer demand for cannabis in pain relief, coupled with increasing legalization of cannabis for medicinal applications, is expected to expand the medicinal segment further.

On a regional basis, North America dominated the market in 2018. In the region, Canada, along with several U.S. states, permitted the production and application of cannabis, which is primarily attributing to the highest share of the region in 2018. The region also has the presence of a large number of cannabis-based product manufacturers, which are increasingly introducing cannabis-based products. Higher disposable income and wider medicinal legalization of cannabis is expected to fuel the market in North America in the coming years

The key players operating in the global cannabis packaging market are KushCo Holdings Inc., JL Clarks Inc., Impak Corporation, Kaya Packaging, Funksac LLC., Dixie Elixirs & Edibles, Pollen Gear LLC. The market is highly concentrated with the presence of limited companies. However, increasing demand for cannabis across the world is expected to attract new entrants in the coming years.

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