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The North America - cannabis packaging market size is estimated to grow at a CAGR of 25.96% between 2022 and 2027. The market size is forecast to increase by USD 2,673.37 million.
This North America cannabis packaging market report extensively covers cannabis packaging market forecast and trends, segmentation by material (glass, metal, plastics, and cardboard containers) and type (rigid packaging and flexible packaging). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Legalization of Cannabis in North America is the key factor driving the growth of the market. One of the essential drivers of the North American cannabis packaging market is the demand for children's packaging. Many of the regulations surrounding cannabis legalization emphasize the importance of keeping marijuana products out of the reach of minors and children. As a result, manufacturers must develop innovative cannabis packaging solutions that are child-resistant, while remaining visually and functionally appealing.
Additionally, the legalization of cannabis has led to the intro of a variety of related products, such as topicals, concentrates, and edibles. The growing focus on sustainable and eco-friendly packaging options is another driving force driving the North American cannabis packaging market. Consumers and businesses are looking for packaging that is both useful and environmentally useful due to growing awareness of environmental issues. Therefore, the legalization of cannabis in North America will drive the growth of the market during the forecast period.
The rising use of sustainable and eco-friendly packaging is the primary trend shaping the growth of the market. The North American cannabis packaging market is increasingly focused on sustainability and environmental sustainability. As a result, cannabis companies are looking for environmentally friendly alternatives to conventional packaging materials such as plastic and glass. Popular eco-friendly packaging options include hemp-based packaging, biodegradable plastics, compostable packaging, and recycled materials.
Additionally, some companies are looking for advanced packaging options to promote sustainability and reduce waste. Reusable or refillable containers, biodegradable blister packs, and compostable bags are some examples. Companies that prioritize environmentally friendly packaging will gain a competitive advantage as consumers become more aware of sustainability. Therefore, the use of sustainable and eco-friendly packaging will drive the growth of the North America cannabis packaging market during the forecast period.
The need for regulatory compliance in Cannabis packaging is a challenge that affects the growth of the market. To assure product safety, and accurate labeling and prevent abuse as the cannabis industry is legalized and regulated in many different jurisdictions, strict laws and restrictions are in place with cannabis packaging in North America. Child-resistant packaging, restrictions on packaging materials, labeling specifications, tamper-proof packaging, product monitoring and traceability, and health and safety regulations are some of the regulations on cannabis packaging in North America.
Additionally, it can be difficult to navigate complex and ever-changing regulations because they can vary from state to state or province to province. To avoid legal consequences and reputational damage, cannabis businesses must invest in appropriate packaging options and stay up to date with any regulatory changes. Therefore, the need to comply with cannabis packaging regulations will hinder the growth of the North America cannabis packaging market during the forecast period.
The glass segment is estimated to witness significant growth during the forecast period. The use of glass containers for storing and packaging cannabis products is known as the glass packaging segment in the North America - cannabis packaging market. Glass packaging's ability to maintain the quality and freshness of cannabis products is one of its main advantages. The glass container is waterproof, which ensures that the cannabis product retains its original properties and does not allow aroma and flavor to escape or contaminants to enter.
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The glass segment was the largest segment and was valued at USD 132.03 million in 2017. Glass packaging is considered a sustainable alternative in addition to its functional qualities. Compared to single-use packaging, it has a more subordinate environmental impact because it is fully recyclable and can be used multiple times. Additionally, the adoption and popularity of glass containers are expected to continue to increase in the North America - cannabis packaging market due to growing customer desire for premium, user-friendly packaging. Environmentally friendly and aesthetically pleasing will promote market growth during the forecast period
In the North America - cannabis packaging market, rigid packaging refers to packaging options made of sturdy, rigid materials such as glass, plastic, or metal. Typically, cannabis products are packaged in these materials to protect and maintain their quality over time. Additionally, the creation of unique packaging solutions that meet customer preferences as well as regulatory requirements is driven by innovations in materials, design, and functionality. The rigid packaging segment is expected to play a key role in ensuring the safety, integrity, and appeal of cannabis products as the cannabis industry continues to grow, which in turn will drive the growth of the North America - cannabis packaging market during the forecast period.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
The research report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Cannabis Promotions, Cannaline, CannaPack Solutions Inc., Diamond Packaging, Dymapak Quark Distribution Inc., Elevate Packaging Inc., Green Rush Packaging, Greenlane Holdings Inc., Grow Cargo, KacePack, Kaya Packaging, Kynd Packaging LLC, MMC Depot, N2 Packaging Systems LLC, Parker Hannifin Corp., Sana Packaging, Smokus Focus, Stink Sack, and IMPAK Corp.
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market research report encompasses the entire market adoption cycle, ranging from the initial innovator phase to the subsequent laggard stage. It emphasizes adoption rates across various regions, determined by penetration levels. Additionally, the report outlines essential purchasing factors and factors influencing price sensitivity. This aids companies in assessing and formulating effective growth strategies.
North America Cannabis Packaging Market Customer Landscape
The North America cannabis packaging market research report forecasts market growth by revenue and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
North America Cannabis Packaging Market Scope |
|
Report Coverage |
Details |
Page number |
138 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 25.96% |
Market growth 2023-2027 |
USD 2,673.37 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
25.33 |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Berry Global Inc., Cannabis Promotions, Cannaline, CannaPack Solutions Inc., Diamond Packaging, Dymapak Quark Distribution Inc., Elevate Packaging Inc., Green Rush Packaging, Greenlane Holdings Inc., Grow Cargo, KacePack, Kaya Packaging, Kynd Packaging LLC, MMC Depot, N2 Packaging Systems LLC, Parker Hannifin Corp., Sana Packaging, Smokus Focus, Stink Sack, and IMPAK Corp. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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