According to the latest report by IMARC Group, titled “Cannabis Packaging Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” the global cannabis packaging market size reached US$ 1247.6 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 4,980.6 Million by 2028, exhibiting a growth rate (CAGR) of 25.76% during 2023-2028.
Cannabis represents a psychoactive drug obtained from the Cannabis Sativa plant and used for medical and recreational purposes. It can be taken in various forms, such as tinctures, dermal patches, capsules, dermal sprays, and edibles. Cannabis assists in weight loss and treating muscle spasms, nausea, diabetes, depression, chronic pain, inflammatory bowel diseases (IBD), attention deficit hyperactivity disorder (ADHD), glaucoma, and seizures. It is packed in bottles, bags, pouches, jars, tubes, and metal tins to prevent damage while handling, transporting, and storing. The need for cannabis packaging has been boosted, owing to the legalization of this drug in several nations, to increase job growth and investment opportunities.
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Cannabis Packaging Market Trends:
The escalating product demand in the healthcare industry to treat various medical conditions, including cancer, arthritis, migraines, epilepsy, Alzheimer’s, post-traumatic stress disorder (PTSD), Parkinson’s, and Tourette’s, on account of its therapeutic benefits, is primarily driving the cannabis packaging market. Besides this, the elevating requirement for this drug in the food and beverage (F&B) sector to manufacture nutritional supplements, sparkling water, and confectionery and bakery products is further augmenting the market growth. Moreover, the launch of several policies by the government bodies is propelling the leading players to offer tamper-evident, child-resistant, re-sealable, and opaque packaging for edible cannabis, which is also catalyzing the global market. Apart from this, the rising automation in the packing of this drug to focus on sustainability and branding is acting as another significant growth-inducing factor. Furthermore, the introduction of recyclable variants, such as compostable pouches, biodegradable cellophane bags, and metal cans, is expected to bolster the cannabis packaging market in the coming years.
The legalization of Toronto cannabis in many parts of the world has led to the growth of the cannabis industry, including the opening of more cannabis dispensaries. These dispensaries can help reduce the demand for black-market cannabis and provide a safe and legal way for consumers to access cannabis products.
Cannabis Packaging Market 2023-2028 Competitive Analysis and Segmentation:
Competitive Landscape With Key Players:
The competitive landscape of the cannabis packaging market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
- Berry Global Inc.
- Cannabis Science Inc.
- Cannaline Cannabis Packaging Solutions
- Diamond Packaging
- Dymapak
- Elevate Packaging Inc.
- Green Rush Packaging
- Greenlane Holdings Inc.
- Kaya Packaging
- KushCo Holdings Inc.
- Maple Leaf Green World Inc.
- N2 Packaging Systems LLC.
Key Market Segmentation:
The report has segmented the cannabis packaging market on the basis of type, packaging material and application
Breakup by Type:
- Rigid
- Semi Rigid
- Flexible
Breakup by Packaging Material:
- Metal
- Plastic
- Cardboard Containers
- Glass
- Others
Breakup by Application:
- Medical Use
- Recreational Use
- Others
Breakup by Region:
- North America
- Europe
- Others
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Key Highlights of the Report:
- Market Performance (2017-2022)
- Market Outlook (2023-2028)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
Table Of Content
1 Preface
2 Scope and Methodology
2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.3.1 Primary Sources
2.3.2 Secondary Sources
2.4 Market Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Key Industry Trends
5 Global Cannabis Packaging Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast
6 Market Breakup by Type
6.1 Rigid
6.1.1 Market Trends
6.1.2 Market Forecast
6.2 Semi Rigid
6.2.1 Market Trends
6.2.2 Market Forecast
6.3 Flexible
6.3.1 Market Trends
6.3.2 Market Forecast
7 Market Breakup by Packaging Material
7.1 Metal
7.1.1 Market Trends
7.1.2 Market Forecast
7.2 Plastic
7.2.1 Market Trends
7.2.2 Market Forecast
7.3 Cardboard Containers
7.3.1 Market Trends
7.3.2 Market Forecast
7.4 Glass
7.4.1 Market Trends
7.4.2 Market Forecast
7.5 Others
7.5.1 Market Trends
7.5.2 Market Forecast
8 Market Breakup by Application
8.1 Medical Use
8.1.1 Market Trends
8.1.2 Market Forecast
8.2 Recreational Use
8.2.1 Market Trends
8.2.2 Market Forecast
8.3 Others
8.3.1 Market Trends
8.3.2 Market Forecast
9 Market Breakup by Region
9.1 North America
9.1.1 Market Trends
9.1.2 Market Forecast
9.2 Europe
9.2.1 Market Trends
9.2.2 Market Forecast
9.3 Others
9.3.1 Market Trends
9.3.2 Market Forecast
10 SWOT Analysis
10.1 Overview
10.2 Strengths
10.3 Weaknesses
10.4 Opportunities
10.5 Threats
11 Value Chain Analysis
12 Porters Five Forces Analysis
12.1 Overview
12.2 Bargaining Power of Buyers
12.3 Bargaining Power of Suppliers
12.4 Degree of Competition
12.5 Threat of New Entrants
12.6 Threat of Substitutes
13 Price Analysis
14 Competitive Landscape
14.1 Market Structure
14.2 Key Players
14.3 Profiles of Key Players
14.3.1 Berry Global Inc.
14.3.1.1 Company Overview
14.3.1.2 Product Portfolio
14.3.1.3 Financials
14.3.1.4 SWOT Analysis
14.3.2 Cannabis Science Inc.
14.3.2.1 Company Overview
14.3.2.2 Product Portfolio
14.3.3 Cannaline Cannabis Packaging Solutions
14.3.3.1 Company Overview
14.3.3.2 Product Portfolio
14.3.4 Diamond Packaging
14.3.4.1 Company Overview
14.3.4.2 Product Portfolio
14.3.5 Dymapak
14.3.5.1 Company Overview
14.3.5.2 Product Portfolio
14.3.6 Elevate Packaging Inc.
14.3.6.1 Company Overview
14.3.6.2 Product Portfolio
14.3.7 Green Rush Packaging
14.3.7.1 Company Overview
14.3.7.2 Product Portfolio
14.3.8 Greenlane Holdings Inc.
14.3.8.1 Company Overview
14.3.8.2 Product Portfolio
14.3.8.3 Financials
14.3.9 Kaya Packaging
14.3.9.1 Company Overview
14.3.9.2 Product Portfolio
14.3.10 KushCo Holdings Inc.
14.3.10.1 Company Overview
14.3.10.2 Product Portfolio
14.3.11 Maple Leaf Green World Inc.
14.3.11.1 Company Overview
14.3.11.2 Product Portfolio
14.3.11.3 Financials
14.3.12 N2 Packaging Systems LLC
14.3.12.1 Company Overview
14.3.12.2 Product Portfolio
About Us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
In summary, cannabis dispensaries are an important part of the legal cannabis industry. They provide consumers with safe and regulated access to a range of cannabis products and help reduce the demand for black-market cannabis. As the industry continues to grow, cannabis dispensaries will play an increasingly important role in providing consumers with access to safe and high-quality cannabis products.
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