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Cannabis Packaging Market Size, Industry Analysis Report By Material (Plastics, Paper & Paperboard, Glass, Metal), By Type (Flexible, Rigid), By Cannabis Form (Flowers, Concentrates, Edibles), By Application (Medical, Recreational) & Region - Forecasts By 2033

  • PUBLISHED ON
  • 2024-10-08
  • NO OF PAGES
  • 202
  • CATEGORY
  • Packaging

 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.    Objectives of the Study

1.2.    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.    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.    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.    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.    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.    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.   By Material

8.1.2.2.   By Application

8.1.2.3.   By Type

8.1.2.4.   By Country

8.1.2.4.1.     The U.S.

8.1.2.4.2.     Canada

8.1.2.4.3.     Mexico

9.       Europe Cannabis Packaging Market: Estimates & Forecast Trend Analysis

9.1.    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.   By Material

9.1.2.2.   By Application

9.1.2.3.   By Type

9.1.2.4.        By Country

9.1.2.4.1.     Italy

9.1.2.4.2.     Germany

9.1.2.4.3.     U.K.

9.1.2.4.4.     France

9.1.2.4.5.     Spain

9.1.2.4.6.     Rest of Europe

10.   Asia Pacific Cannabis Packaging Market: Estimates & Forecast Trend Analysis

10.1.  Asia Pacific Market Assessments & Key Findings

10.1.1.    Cannabis Packaging Market Introduction

10.1.2.    Cannabis Packaging Market Size and Volume Estimates and Forecast (US$ Million & Tons) (2019 – 2030)

10.1.2.1.    By Material

10.1.2.2.    By Application

10.1.2.3.    By Type

10.1.2.4.    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.   Cannabis Packaging Market Introduction

11.1.2.   Cannabis Packaging Market Size and Volume Estimates and Forecast (US$ Million & Tons) (2019 – 2030)

11.1.2.1.    By Material

11.1.2.2.    By Application

11.1.2.3.    By Type

11.1.2.4.    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.   Cannabis Packaging Market Introduction

12.1.2.   Cannabis Packaging Market Size and Volume Estimates and Forecast (US$ Million & Tons) (2019 – 2030)

12.1.2.1.    By Material

12.1.2.2.    By Application

12.1.2.3.    By Type

12.1.2.4.    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.   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.   Company Profiles

14.1.KushCo Holdings Inc)

14.1.1.    Company Overview & Key Stats

14.1.2.    Financial Performance & KPIs

14.1.3.    Product Portfolio

14.1.4.    Business Strategy & Recent Developments

* Similar details would be provided for all the players mentioned below 

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.   Elevate Packaging Inc.,

14.11.   Berry Global Inc.

14.12.   Others**

15.   Research Methodology

15.1.      External Power Outputs / Databases

15.2.      Internal Proprietary Database

15.3.      Primary Research

15.4.      Secondary Research

15.5.      Assumptions

15.6.      Limitations

15.7.      Report FAQs

16.   Research Findings & Conclusion

 

 

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We Market Research senior executive is assigned to each consulting engagement and works closely with the project team to deliver as per the clients expectations.

Market Research Process




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To mitigate risks that can impact project success, we deploy the follow project delivery best practices:
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Case Study- Automotive Sector

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).

Solution

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.

Market Estimates and Forecast

In the final stage of the study, market forecasts for the electric utility were derived using multiple market engineering approaches. This data helped the client to get an overview of the market and accelerate the process of investment.

Case Study- ICT Sector

Business process outsourcing, being one of the lucrative markets from both supply- and demand- side, has appealed to various companies. One of the prominent corporations based out of Japan approached us with their requirements regarding the scope of the procurement outsourcing market for around 50 countries. Additionally, the client also sought key players operating in the market and their revenue breakdown in terms of region and application.


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.

Frequently Asked Questions

What is the market size and growth projections?

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.

What are the drivers shaping various markets?

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.

Who are the key competitors of market Players?

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.

What are the top performing segments, and countries / regions of each of the markets?

The primary regions constituting the geographical gamut of this business vertical are North America, Middle East & Africa, Europe, Asia Pacific, and Latin America.

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