cannabis leaf

Cannabis Packaging Market Projected To Surpass $13.17 Billion By 2030

As with all mainstream products, many cannabis products come in custom packaging. Anyone who has ever visited a licensed dispensary quickly learns that cannabis packaging comes in many forms, from very rudimentary packaging all the way to packaging that is very polished and well thought out.

Cannabis packaging is big business too. According to a recent analysis conducted by Coherent Market Insights, “the global cannabis packaging market was valued at US$ 2.64 Bn in 2023 and is expected to reach US$ 13.17 Bn by 2030, growing at a compound annual growth rate (CAGR) of 25.8% from 2023 to 2030.”

“The growing legalization of cannabis for medical and recreational purposes across the globe is one of the key drivers driving the growth of the cannabis packaging market. Additionally, the increasing awareness about the importance of child-resistant packaging for cannabis products is also fueling market growth.” the researchers stated.

“One of the key trends observed in the cannabis packaging market is the development of sustainable packaging solutions. With the increasing focus on environmental sustainability, manufacturers are investing in eco-friendly packaging materials for cannabis products. Another trend is the integration of smart packaging technologies, such as QR codes and RFID tracking, to ensure product safety and authenticity. These technological advancements are expected to drive market growth in the coming years.” the researchers also stated.

Cannabis sales in the United States alone are expected to reach $31.4 billion in 2024 according to a recent analysis by Whitney Economics. Whitney Economics also projects the following legal cannabis sales figures in the United States for the coming years:

  • 2024: $31.4 billion (9.1% growth from 2023)
  • 2025: $35.2 billion (12.1% growth from 2024)
  • 2030: $67.2 billion
  • 2035: $87.0 billion

“In terms of regions, North America is expected to hold a dominant position in the cannabis packaging market, driven by the legalization of cannabis in various states and the growing demand for compliant packaging solutions.” Coherent Market Insights stated about the cannabis packaging sector.

“Overall, the cannabis packaging market is poised for significant growth, driven by the increasing demand for sustainable packaging solutions, the legalization of cannabis in various regions, and the focus on compliant packaging solutions for the cannabis industry. Manufacturers and key players in the market are expected to continue innovating and developing specialized packaging solutions to meet the evolving needs of the cannabis industry and capitalize on the growing market opportunities.” they also stated.