Latest News- Cannabis Packaging Market: Glass is expected to lead the Material segment during 2025-2029

The Cannabis Packaging Market is being driven by Growing millennial purchasing power in key cannabis industry

The Cannabis Packaging Market is expected to grow at a CAGR of 28.7% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 11213.8 million. In the burgeoning cannabis industry, smart packaging solutions are revolutionizing product offerings. These advanced packaging systems provide valuable consumer information, regulate temperature, deter theft, and enable real-time product tracking during transit. Utilizing indicators and sensors, smart packaging extends product shelf life through food preservation applications. Rigid plastic packaging, in particular, employs Quick Response (QR) codes to disseminate product information, while technologies like near-field communication (NFC), radio-frequency identification (RFID), and embedded barcodes enhance the customer experience, fostering trust and loyalty. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Material
  • Glass
  • Metal
  • Plastics
  • Cardboard containers
• Type
  • Rigid packaging
  • Flexible packaging
• Application
  • Medical use
  • Recreational use
  • CBD products
• Geography
  • North America
    • Canada
    • Mexico
    • US
  • APAC
    • India
    • South Korea
    • Thailand
  • Europe
    • Germany
    • Italy
  • South America
  • Middle East and Africa

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Growing millennial purchasing power in key cannabis industry
• Rising number of countries decriminalizing and legalizing cannabis
• Increasing medicinal application of cannabis

However, the market also witnesses some limitations, which are as follows:

• Fluctuations in raw material prices of cannabis packaging
• Stringent regulations related to usage of plastics in packaging
• Challenges associated with logistics of glass containers

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Market Scope in Cannabis Packaging Market Research Report

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Research Analysis Overview

The Cannabis industry's shift towards CBD products has led to a surge in demand for CR packaging solutions, with Marijuana Business Daily reporting a significant increase in sales of tinctures and pills. Hippo Packaging and Impak Corporation are leading the market with innovative containers and caps made of High Density Polyethylene (HDPE) and hemp. Sustainable options like Ocean-reclaimed plastic are also gaining popularity. Legalization of cannabis has opened doors for new players, including Chinese suppliers. Chronic pain patients benefit from these developments, as plastic packaging from companies like Hippo Packaging and Impak Corporation ensure product safety and efficacy.

Market Research Overview

The cannabis packaging market encompasses a diverse range of products, including CBD products, CR packaging for vape items, and pre-roll joints. This market is characterized by a fragmented supply chain, with numerous participants involved in various stages of production and distribution. Suppliers play a crucial role in this ecosystem, providing raw materials for metal, glass, and plastic containers. These raw materials include steel, aluminum, and tin for metal containers; borosilicate, neutral glass, soda-lime-silica glass, treated soda-lime glass, de-alkalized soda-lime glass, and regular soda-lime glass for glass containers; and high-density polyethylene (HDPE), low-density polyethylene (LDPE), polyethylene terephthalate (PET), polypropylene (PP), and polyvinyl chloride (PVC) for plastic containers. The process begins with raw material procurement, followed by research and development to create the desired product. Subsequently, the product is manufactured on a large scale to meet market demand, and finally, it is distributed through various channels to reach end-users.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/