The already booming industry of cannabis packaging industry is about to boom a lot bigger. A new report predicts that the market will rise to $20.41 billion by 2025.
According to Zion Market Research, weed packaging is already valued at more than $12.5 billion a year and it is about to see a sharp increase in growth.
The cause of this explosion is mostly obvious, being the unprecedented legal cannabis markets in countries including Canada and the United States. Another secondary motivation for the beaucoup bucks in weed packaging is the introduction of “active packaging” to the market.
Active packaging, long used in food and pharmaceuticals, is basically packaging which includes chemical compounds designed to increase the shelf life or the potency of a product. Common examples are those little moisture-absorbing plastic cylinders in pill bottles that say “do not eat” or the pads they put under meat at the super market which keep it fresher a few days longer.
According to Zion’s report, active packaging in the weed market will “provide better assistance for cannabis preservation, which includes preservation of THC levels by controlling oxygen and carbon dioxide levels, humidity, and thermodynamic cooling. Additionally, the active packaging system also improves the cannabis safety by emitting safe food oxidizers to lessen bacteria, mold, and other pathogens.”
As the cannabis market gets more sophisticated, and regulations and consumer tastes change, active packaging is expected to become a much larger part of marijuana packaging, and another major driver of the market.
In other words, we’ve come a long way from sandwich baggies and pill bottles.
Additionally, the rise in medical marijuana and edibles is also expected to feed the packaging market. Meanwhile, strict and constantly-evolving regulations for packaging are projected to curb the industry’s growth.
The report also listed some of the top names in the global cannabis packaging market, including Laguna Blends, Lexaria Bioscience, J.L. Clark, Elevate Packaging, Kush Bottles, Brandy Cannabis Creative, Dixie Elixirs & Edibles, McKernan Packaging Clearing House, Shatter Labels, LifeLoc Technologies, Maple Leaf Green World, and Kaya Cannabis.