Market Overview
The Global Cannabis Packaging Market was worth USD 2,060 million in 2022 and is poised to amplify at a CAGR of 25.2% over 2023-2033, thereby amassing USD 23,830 million by end of the assessment timeline.
Report Scope
Report Attributes | Description |
Market Forecast in 2022 | USD 2,060 Million |
Market Forecast in 2033 | USD 23,830 Million |
CAGR % 2023-2033 | 25.2% |
Base Year | 2022 |
Historic Data | 2020-2021 |
Forecast Period | 2023-2033 |
Report USP | Product Vehicle type, end-user industry, company share, company heatmap, company Material Technology Vehicle type capacity, growth factors and more |
Segments Covered | Material, Type, Cannabis Form, Application |
Regional Scope | North America, Europe, APAC, South America and Middle East and Africa |
Country Scope | U.S.; Canada; U.K.; Germany; France; Italy; Spain; Benelux; Nordic Countries; Russia; China; India; Japan; South Korea; Australia; Indonesia; Thailand; Mexico; Brazil; Argentina; Saudi Arabia; UAE; Egypt; South Africa; Nigeria |
Key Companies | KushCo Holdings Inc., JL Clarks Inc., Kaya Packaging, Cannaline Cannabis Packaging Solutions, Dymapak, Diamond Packaging, Greenlane Holdings Inc., N2 Packaging Systems LLC, Green Rush Packaging, Elevate Packaging Inc., and Berry Global Inc. |
Cannabis Packaging Market: Description
Cannabis is referred to as a type of psychoactive drug that is generally obtained from three plant types, namely, Cannabis sativa, Cannabis indica, and Cannabis ruderalis. It is used for medicinal and recreational purposes across the globe. Being a dried plant component, cannabis needs utmost protection from sunlight and moisture. Therefore, the packaging of cannabis is regarded as a crucial process. The associated companies and manufacturers are adopting re-sealable, opaque, affordable, and durable packaging materials to ensure the efficient storage and delivery of marijuana.
The increasing instances of marijuana legalization across various nations and rising cannabis adoption in the pharmaceutical sector are primarily augmenting the outlook of this marketplace. Furthermore, rapid consumption of marijuana for recreational purposes among young population along with growing R&D activities in the field are creating lucrative opportunities for the industry vertical to prosper.
Also, the wide array of health benefits offered by marijuana including pain relief, weight loss, reduced cancer and diabetes risks, among others are adding momentum to the progression of this marketplace. Moreover, the widespread utilization of eco-friendly materials for marijuana packaging is stimulating the overall industry outlook.
Besides, the emergence of new start-ups that are focusing on to developing the cultivation and industrial production process pertaining to cannabis and related products is bolstering the expansion of this business sphere. On the contrary, rigid regulatory standards pertaining to weed consumption along with rising concerns regarding its side effects are hindering the remuneration scope of this market.
Several nations across the globe have legalized the use of marijuana for medical purposes. This is credited to the fact that cannabis induced medicines help in treating ailments such as cancer, diabetes, hypertension, and depression, among others. Moreover, it also helps individuals in losing weight without posing any health risks. This in turn is paving a way for the market to grow significantly.
There has been a rising environmental cognizance among the masses since rapid urbanization and industrialization that are posing a severe threat to the ecosystem. This has pushed cannabis manufacturers to adopt bio friendly packaging products which are not only recyclable but are also less toxic in nature. These factors are stimulating the overall dynamics of this business sphere.
Global Cannabis Packaging Market- Segmental Analysis:
Material Insights
The paper & paperboard segment is slated to amass notable gains over the stipulated timeline owing to the rising sustainability trends across the globe.
Type Insights
The flexible segment presently dominates the market in terms of volume share and is expected to showcase similar growth trends. This is ascribed to the affordability and durability of flexible packaging products.
Cannabis Form Insights
The flowers segment is expected to garner significant returns over the estimated timeframe due to the rising marijuana consumption for recreational purposes worldwide.
Application Insights
The medical segment is reckoned to grow considerably over the analysis period due to the wide array of health benefits offered by cannabis
Regional Insights
The primary regions constituting the geographical gamut of this business vertical are North America, Middle East & Africa, Europe, Asia Pacific, and Latin America. Among these, North America is projected to capture substantial returns over the forecast duration. This is attributable to the rising instances of marijuana legalization, emergence of numerous startups, and widespread technological advancements in the field of cannabis packaging.
Competitive Analysis
The prominent players characterizing the competitive terrain of this industry vertical are KushCo Holdings Inc., JL Clarks Inc., Kaya Packaging, Cannaline Cannabis Packaging Solutions, Dymapak, Diamond Packaging, Greenlane Holdings Inc., N2 Packaging Systems LLC, Green Rush Packaging, Elevate Packaging Inc., and Berry Global Inc.
Notably, in July 2020, Ventiv Design announced the launch of its sustainable cannabis packaging solutions including paper-made slider boxes for hemp induced pre rolls and vapes.
Global Cannabis Packaging Market- Segmental Analysis
By Material
· Plastics
· Paper & Paperboard
· Glass
· Metal
· Others
By Type
· Flexible
· Rigid
By Cannabis Form
· Flowers
· Concentrates
· Edibles
· Others
By Application
· Medical
· Recreational
1.      Global Cannabis Packaging Market Introduction and Market Overview
1.1.  Â
Objectives of the Study
1.2.  Â
Global Cannabis Packaging
Market Scope and Market Estimation
1.2.1.Global Cannabis
Packaging Overall Market Size, Revenue (US$ Mn) and Volume (Tons), Market CAGR
(%), Market forecast (2023 - 2030)
1.2.2.Global Cannabis
Packaging Market Revenue Share (%) and Growth Rate (Y-o-Y) from 2019 - 2030
1.3.  Â
Market Segmentation
1.3.1.Material
of Global Cannabis Packaging Market
1.3.2.Type of
Global Cannabis Packaging Market
1.3.3.Application
of Global Cannabis Packaging Market
1.3.4.Region
of Global Cannabis Packaging Market
2.      Executive Summary
3.      Market Factor Analysis
3.1.  Global Cannabis Packaging
Market Application Trends under COVID-19 Outbreak
3.1.1.Global
COVID-19 Status Overview
3.1.2.Influence
of COVID-19 Outbreak on Global Cannabis Packaging Market Application
Development
3.2.  Market Dynamics
3.2.1.Drivers
3.2.2.Limitations
3.2.3.Opportunities
3.2.4.Impact
Analysis of Drivers and Restraints
3.3.  Value Chain/ Ecosystem
Analysis
3.3.1.Manufacturers
/ Vendors
3.3.2.Distributors
3.3.3.Buyers /
End-users
3.3.4.Forward Integration
& Backward Integration of Key Stakeholders
3.4.  Global Cannabis Packaging
Market - Pricing Trends Analysis & Average Selling Prices (ASPs)
3.5.  Porter’s Five Forces
Analysis
3.5.1.Bargaining
Power of Suppliers
3.5.2.Bargaining
Power of Buyers
3.5.3.Threat
of Substitutes
3.5.4.Threat
of New Entrants
3.5.5.Competitive
Rivalry
3.6.  PEST Analysis
3.6.1.Political
Factors
3.6.2.Economic
Factors
3.6.3.Social
Factors
3.6.4.Technological
Factors
3.7.  Impact of Russia Ukraine
War on Cannabis Packaging Market
3.8.  Impact of Economic
Downturn on Cannabis Packaging Market
3.9.  Cannabis Packaging Production
Capacity, by Major Countries
3.10. Market Investment
Opportunity Analysis (Top Investment Pockets), By Segments & By Regions
4.      Global Cannabis Packaging
Market Estimates & Forecast Trend Analysis, by Material
4.1.  Â
Global Cannabis Packaging
Market Revenue (US$ Mn) and Volume (Tons) Estimates and Forecasts, by Material,
2019 to 2030
4.1.1.Plastics
4.1.2.Paper
& Paperboard
4.1.3.Glass
4.1.4.Metal
4.1.5.Others
5.      Global Cannabis Packaging
Market Estimates & Forecast Trend Analysis, by Application
5.1.  Â
Global Cannabis Packaging
Market Revenue (US$ Mn) and Volume (Tons) Estimates and Forecasts, by Application,
2019 to 2030
5.1.1.Medical
5.1.2.Recreational
6.      Global Cannabis Packaging
Market Estimates & Forecast Trend Analysis, by Type
6.1.  Â
Global Cannabis Packaging
Market Revenue (US$ Mn) and Volume (Tons) Estimates and Forecasts, by Type,
2019 to 2030
6.1.1.Flexible
6.1.2.Rigid
7.      Global Cannabis Packaging
Market Estimates & Forecast Trend Analysis, by
Region
7.1.  Â
Global Cannabis Packaging
Market Revenue (US$ Mn) and Volume (Tons) Estimates and Forecasts, by Region,
2019 to 2030
7.1.1.North
America
7.1.2.Europe
7.1.3.Asia
Pacific
7.1.4.Middle East & Africa
7.1.5.South
America
8.      North America Cannabis Packaging Market:
Estimates & Forecast Trend Analysis
8.1.   North America Cannabis Packaging Market Assessments & Key
Findings
8.1.1.Cannabis
Packaging Market Introduction
8.1.2.Cannabis
Packaging Market Size Estimates and Forecast (US$ Million & Tons) (2019 – 2030)
8.1.2.1. Â
By Material
8.1.2.2. Â
By Application
8.1.2.3. Â
By Type
8.1.2.4. Â
By Country
8.1.2.4.1.   Â
The U.S.
8.1.2.4.2.   Â
Canada
8.1.2.4.3.   Â
Mexico
9.      Europe Cannabis Packaging Market:
Estimates & Forecast Trend Analysis
9.1.  Â
Europe Cannabis Packaging
Market Assessments & Key Findings
9.1.1.Cannabis
Packaging Market Introduction
9.1.2.Cannabis
Packaging Market Size Estimates and Forecast (US$ Million & Tons) (2019 – 2030)
9.1.2.1. Â
By Material
9.1.2.2. Â
By Application
9.1.2.3. Â
By Type
9.1.2.4.      Â
By Country
9.1.2.4.1.   Â
Italy
9.1.2.4.2.   Â
Germany
9.1.2.4.3.   Â
U.K.
9.1.2.4.4.   Â
France
9.1.2.4.5.   Â
Spain
9.1.2.4.6.   Â
Rest of Europe
10.  Asia Pacific Cannabis Packaging Market:
Estimates & Forecast Trend Analysis
10.1. Asia Pacific Market Assessments & Key Findings
10.1.1.  Â
Cannabis Packaging Market
Introduction
10.1.2.  Â
Cannabis Packaging Market Size and
Volume Estimates and Forecast (US$ Million & Tons) (2019 – 2030)
10.1.2.1.  Â
By Material
10.1.2.2.  Â
By Application
10.1.2.3.  Â
By Type
10.1.2.4.  Â
By Country
10.1.2.4.1. China
10.1.2.4.2. Japan
10.1.2.4.3. India
10.1.2.4.4. Australia
10.1.2.4.5. South Korea
10.1.2.4.6. ASEAN
10.1.2.4.7. Rest of Asia Pacific
11.  Middle East & Africa Cannabis Packaging Market: Estimates & Forecast Trend Analysis
11.1. Middle East & Africa Market Assessments & Key Findings
11.1.1. Â
Cannabis Packaging Market
Introduction
11.1.2. Â
Cannabis Packaging Market Size
and Volume Estimates and Forecast (US$ Million & Tons) (2019 – 2030)
11.1.2.1.  Â
By Material
11.1.2.2.  Â
By Application
11.1.2.3.  Â
By Type
11.1.2.4.  Â
By Country
11.1.2.4.1. U.A.E.
11.1.2.4.2. Saudi Arabia
11.1.2.4.3. Egypt
11.1.2.4.4. South Africa
11.1.2.4.5. Rest of Middle East & Africa
12.  South America Cannabis Packaging Market:
Estimates & Forecast Trend Analysis
12.1. South America Market Assessments & Key Findings
12.1.1. Â
Cannabis Packaging Market
Introduction
12.1.2. Â
Cannabis Packaging Market Size and
Volume Estimates and Forecast (US$ Million & Tons) (2019 – 2030)
12.1.2.1.  Â
By Material
12.1.2.2.  Â
By Application
12.1.2.3.  Â
By Type
12.1.2.4.  Â
By Country
12.1.2.4.1. Brazil
12.1.2.4.2. Argentina
12.1.2.4.3. Colombia
12.1.2.4.4. Rest of South America
13. Â
Competition Landscape
13.1. Cannabis Packaging Market Competition Matrix & Benchmarking, by
Leading Players / Innovators / Emerging Players / New Entrants
13.2. Cannabis Packaging Market Competition White Space Analysis, By End-user
13.3. Cannabis Packaging Market Competition Regional Intensity Map
Analysis, By Geographies Served
13.4. Cannabis Packaging Market Concentration & Company Market Shares
(%) Analysis, 2022
14. Â
Company Profiles
14.1.KushCo Holdings Inc)
14.1.1.  Â
Company Overview & Key
Stats
14.1.2.  Â
Financial Performance &
KPIs
14.1.3.  Â
Product Portfolio
14.1.4.  Â
Business Strategy & Recent
Developments
* Similar details would be provided for all the players
mentioned belowÂ
14.2.JL Clarks Inc.,
14.3.Kaya Packaging,
14.4.Cannaline Cannabis Packaging Solutions,
14.5.Dymapak,
14.6.Diamond Packaging,
14.7.Greenlane Holdings Inc.,
14.8.N2 Packaging Systems LLC,
14.9.Green Rush Packaging,
14.10. Â
Elevate
Packaging Inc.,
14.11. Â
Berry
Global Inc.
14.12. Â
Others**
15. Â
Research Methodology
15.1.    Â
External Power
Outputs / Databases
15.2.    Â
Internal
Proprietary Database
15.3.    Â
Primary
Research
15.4.    Â
Secondary
Research
15.5.    Â
Assumptions
15.6.    Â
Limitations
15.7.    Â
Report
FAQs
16. Â
Research Findings & Conclusion
Â
Â
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Market Research Process
We Market Research monitors 3 important attributes during the QA process- Cost, Schedule & Quality. We believe them as a critical benchmark in achieving a project’s success.
One of the key manufacturers of automotive had plans to invest in electric utility vehicles. The electric cars and associated markets being a of evolving nature, the automotive client approached We Market Research for a detailed insight on the market forecasts. The client specifically asked for competitive analysis, regulatory framework, regional prospects studied under the influence of drivers, challenges, opportunities, and pricing in terms of revenue and sales (million units).
The overall study was executed in three stages, intending to help the client meet its objective of precisely understanding the entire market before deciding on an investment. At first, secondary research was conducted considering political, economic, social, and technological parameters to get a gist of the various aspects of the market. This stage of the study concluded with the derivation of drivers, opportunities, and challenges. It also laid substantial emphasis on understanding and collecting data not only on a global scale but also on the regional and country levels. Data Extraction through Primary Research
The second stage involved primary research in which several market players and automotive parts suppliers were contacted to study their viewpoint concerning the development of their market and production capacity, clientele, and product line. This stage concluded in a brief understanding of the competitive ecosystem and also glanced through the strategies and pricing of the companies profiled.
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Business Solution
An exhaustive market study was conducted based on primary and secondary research that involved factors such as labor costs in various countries, skilled and technical labors, manufacturing scenario, and their respective contributions in the global GDP. A comparative study of the market was conducted from both supply- and demand side, with the supply-side comprising of notable companies, such as GEP, Accenture, and others, that provide these services. On the other hand, large manufacturing companies from them demand-side were considered that opt for these services.
Conclusion
The report aided the client in understanding the market trends, including country-level business scenarios, consumer behavior, and trends in 50 countries. The report also provided financial insights of crucial players and detailed market estimations and forecasts till 2033.
The Global Cannabis Packaging Market was worth USD 2,060 million in 2022 and is poised to amplify at a CAGR of 25.2% over 2023-2033, thereby amassing USD 23,830 million by end of the assessment timeline.
The flexible segment presently dominates the market in terms of volume share and is expected to showcase similar growth trends. This is ascribed to the affordability and durability of flexible packaging products.
Some of the major players operating within the market are KushCo Holdings Inc., JL Clarks Inc., Kaya Packaging, Cannaline Cannabis Packaging Solutions, Dymapak, Diamond Packaging, Greenlane Holdings Inc., N2 Packaging Systems LLC, Green Rush Packaging, Elevate Packaging Inc., and Berry Global Inc.
The primary regions constituting the geographical gamut of this business vertical are North America, Middle East & Africa, Europe, Asia Pacific, and Latin America.
Only Three Thousand Four Hundred Ninety Nine US dollar
Only Four Thousand Four Hundred Ninety Nine US dollar
Only Five Thousand Four Hundred Ninety Nine US dollar