Cannabis Packaging Market Size Worth $12,254.62 Million By 2032 | CAGR: 18.4%

Cannabis Packaging Market Size Worth $12,254.62 Million By 2032 | CAGR: 18.4%


The global cannabis packaging market size is expected to reach USD 12,254.62 Million by 2032, according to a new study by Polaris Market Research. The report “Cannabis packaging Market Share, Size, Trends, Industry Analysis Report, By Type; By Material, By Product (Bottles & Jars, Tubes, Tins, Pouches, Blisters & Clamshells, Others) By Application, By Region, Segment Forecast, 2024-2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

The global cannabis packaging market is growing rapidly in the foreseeable future, primarily driven by increased legalization of cannabis for medical as well as recreational purposes across the globe. This shift has boosted the emergence of the cannabis packaging market across the globe, which is characterized by heightened demand for compliant and innovative cannabis packaging solutions. Additionally, the key players are focusing on the development of sustainable packaging alternatives in order to cater to environmentally conscious consumers and align with regulatory standards. For instance, in May 2024, Tilray Brands introduced cannabis-infused 2 XMG sub-brands: XMG Zero & XMG Plus (XMG+).

Furthermore, the growing popularity of cannabis-infused products such as beverages and edibles is increasing the demand for specialized packaging capable of preserving product integrity and conveying essential information to consumers effectively. As cannabis legalization continues to increase, the packaging sector will continue to adapt to the evolving demands of the expanding market. Packaging manufacturers focus on innovation in child-resistant packaging, tamper-evident seals, and clear labeling in order to ensure consumer satisfaction and safety.

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As the cannabis industry poises to achieve substantial revenue growth in the forecast period, the key players that demonstrate adaptability to the shifting landscape will receive a competitive advantage. Furthermore, the increased demand for sustainable packaging options is anticipated to drive market growth.

Moreover, as the regulatory frameworks that govern cannabis packaging evolve, it is important for packaging companies to maintain adherence and vigilance to ensure compliance with regulatory mandates and consumers. For instance, in March 2023, the Cannabis Control Board (the Board) approved packaging, labeling, marketing, and advertising (PLMA).

Cannabis packaging Market Report Highlights

  • Rigid segment is anticipated to witness the highest growth in the coming years, due to its ability to ensure the product's integrity.
  • Plastic segment accounted for the largest market share, owing to its ease of molding and super performing characteristics.
  • Bottles & jars segment is projected to experience a larger revenue share, due to its suitability with products.
  • Asia-Pacific is projected to register the fastest growth during the forecast period, attributable to growing defense expenditures by nations.
  • The global players include Greenlane Holdings, Inc., J.L. CLARK, Kaya Packaging, and KacePack.

 

Polaris Market Research has segmented the cannabis packaging market report based on type, material, product, application, and region:

Cannabis Packaging, Type Outlook (Revenue - USD Million, 2019 - 2032)

  • Rigid
  • Flexible

Cannabis Packaging, Material Outlook (Revenue - USD Million, 2019 - 2032)

  • Plastic
  • Metal
  • Glass
  • Paper

Cannabis Packaging, Product Outlook (Revenue - USD Million, 2019 - 2032)

  • Bottles & Jars
  • Tubes
  • Tins
  • Pouches
  • Blisters & Clamshells
  • Others

Cannabis Packaging, Application Outlook (Revenue - USD Million, 2019 - 2032)

  • Guided
  • Non-guided

Cannabis packaging, Application Outlook (Revenue - USD Million, 2019 - 2032)

  • Recreational Use
  • Medical Use

Cannabis packaging, Regional Outlook (Revenue - USD Million, 2019 - 2032)

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Spain
    • Russia
    • Netherlands
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Indonesia
    • Malaysia
  • Latin America
    • Argentina
    • Brazil
    • Mexico
  • Middle East & Africa
    • UAE
    • Saudi Arabia
    • Israel
    • South Africa

Cannabis Packaging Market Report Scope

Report Attributes

Details

Market size value in 2024

USD 3,170.98 million

Revenue forecast in 2032

USD 12,254.62 million

CAGR

18.4% from 2024 – 2032

Base year

2023

Historical data

2019 – 2022

Forecast period

2024 – 2032

Quantitative units

Revenue in USD million and CAGR from 2024 to 2032

Segments covered

  • By Type
  • By Material
  • By Product
  • By Application
  • By Region

Regional scope

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

Competitive Landscape

  • Cannabis Packaging Market Share Analysis (2023)
  • Company Profiles/Industry participants profiling includes company overview, financial information, product/service benchmarking, and recent developments

Report Format

  • PDF + Excel

Customization

Report customization as per your requirements with respect to countries, region and segmentation.

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  • Regional analysis
  • Segmentation analysis
  • Industry outlook
  • Competitive landscape
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