October/14/2019
It is anticipated that the cannabis products packaging demand will in 2019 hit $278 million, growing at 31% every year to amount to $1.1 billion by 2024. Secondary and primary containers like folding cartons, bottles and jars are expected to still have the highest packaging demand reaching 62% of sales in 2024. The above containers are part of the bulk packaging costs because they are heavily regulated by the government. Besides, these containers offer performance and aesthetic benefits.
Cannabis package containers demand is predicted to grow at 34% every year. In 2019, it is expected to be $156 million and by 2024 it will be $70 million. With the marijuana and hemp industry expansion, there are expectations that all containers will continue to witness fast growth. Bottles and jars will both gain 62% of sales. These two are flexible and are widely used almost across all marijuana delivery formats such as edibles, flower and topicals. Bags, pouches and folding cartons are also projected to experience growth in demand, especially with the edibles’ popularity increasing rapidly.
With the latest developments, those who are in the business of supplying packaging will have to be innovative to adapt to the emerging trends. This is by providing containers that promote product differentiation like premium image and high-quality graphics. These containers include cloth bags, metal tins, vials and glass bottles.
