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Considering Cannabis Packaging?

There are a few things to consider when moving into cannabis packaging. Read what this exploding market requires, and where it’s headed.

Chris Walsh, CEO and Founding Editor at MJBiz
Chris Walsh, CEO and Founding Editor at MJBiz

Cannabis retail sales have exploded over the years as state-level legalization has expanded. In 2014, the figure was around $2 billion. In 2020, it had jumped to $20 billion.

Chris Walsh, CEO and Founding Editor at MJBiz, presented on the ‘Pack to the Future’ stage at PACK EXPO Las Vegas last week, and he predicts cannabis revenue will soon be higher than that of the craft beer market. Recreational sales are now the largest part of the market, eclipsing medical, and Walsh said more than 90% of Americans support some form of cannabis legalization, with 60% supporting recreational legalization.

As large CPGs begin to explore expanding product opportunities in the cannabis market, they are also investing in branding, packaging, and marketing, said Walsh, and the cannabis packaging market is big. While Walsh cautioned that estimates of market size are “all over the board,” some have estimated a half-million to $1 billion in 2020, with potential growth by 2026 to $1.8-$3 billion.

The point is that the market is growing, and Walsh attributes that to higher sales volumes, new product innovations, and more states legalizing.

The Basics

Walsh said the product array – and consequently packaging opportunities – are vast. Flower, or bud, is currently the biggest segment of the market, but consumers and patients are looking for other ways to use cannabis, leading to innovations in edibles and beverages, vape pens, topicals, powders, lotions, and bath bombs, etc.

This expanding array of products requires different packaging materials such as plastic, metal, glass, corrugate, and acrylic, in formats such as trays, tubes, jars, vials, pinch containers, bags, and boxes.

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