Cannabis Packaging Market Size, Share and Industry Analysis Report by Material (Plastics, Paper & Paperboard, Glass, Metal, Others), Type (Flexible, Rigid) and Cannabis Form (Flower, Concentrates, Edible, Others), Regional Outlook, Application Growth Pote

Cannabis Packaging Market Size, Share and Industry Analysis Report by Material (Plastics, Paper & Paperboard, Glass, Metal, Others), Type (Flexible, Rigid) and Cannabis Form (Flower, Concentrates, Edible, Others), Regional Outlook, Application Growth Potential, Competitive Market Share & Forecast, 2022 - 2028

The cannabis packaging market is set to witness robust growth through 2028 owing to increasing legalization and regularization of cannabis products across the globe.

Notably, industry participants have been implementing profitable strategies to tap into emerging trends in the sector, which has contributed to the expansion of the cannabis packaging market. For instance, in June 2022, N2 Packaging Systems, LLC., a leader in sustainable packaging, joined the SSC (Sustainable Cannabis Coalition), an organization that promotes sustainable packaging, as part of its goal of becoming a plastic-free packaging supplier by 2023. This move would enable it to reduce its carbon footprint and contribute to a greener future.

In a notable development, in April 2022, DIZPOT, a specialist in cannabis packaging, launched DIZLOGIC to offer third-party logistics services to the cannabis supply chain. In another instance, in June 2022, the Cannabis Control Board of New York approved 16 new licenses as well as drafted new regulations for the packaging and marketing of cannabis products. As per the regulations, packaging must include the company’s logo, THC and TBD content, contact information of the manufacturer and the distributor, and state-approved symbols.

The cannabis packaging market has been bifurcated in terms of cannabis form, material, type, and region.

With respect to material, the market has been segmented into glass, plastics & polymers, metal, paper & paperboard, and others. Among these, the metal segment is expected to grow at a CAGR of about 10.9% through the forecast period. The others material segment was valued at above USD 1,616.8 thousand in 2021 and is speculated to observe sizable expansion by 2028.

On the basis of type, the cannabis packaging market has been segregated into rigid and flexible. The rigid type segment is estimated to exhibit steady growth at a CAGR of around 6.0% over the analysis timeline.

Based on cannabis form, the market has been bifurcated into edibles, flowers, concentrates, and others. The edibles cannabis form segment is projected to achieve robust growth at a CAGR of approximately 10.7% over 2022-2028. In 2021, the others cannabis form segment registered a global market share of nearly 9.15%.

On the regional front, the Asia Pacific cannabis packaging market is expected to witness substantial progress, delivering roughly 5.8% CAGR through the forecast period. The Latin America cannabis packaging industry held more than 6.5% market share in 2021 and is poised to witness significant growth at around 8.7% CAGR through 2028. Meanwhile, the Middle East & Africa cannabis packaging sector is also set to showcase sturdy development at a rate of roughly 7.5% up to 2028.