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Cannabis Packaging Demand to Grow 31% Annually

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According to the Freedonia Group, demand for cannabis product packaging is anticipated to reach $278 million in 2019, increasing 31% per year to $1.1 billion in 2024. Primary and secondary containers (e.g., jars, bottles, folding cartons) will continue to account for the largest share of packaging demand at 62% of sales in 2024. These containers account for the bulk of unit packaging costs, as they must meet government regulations while also offering aesthetic and performance advantages. These and other trends are presented in Cannabis Packaging Opportunities from the Freedonia Group.

Demand for containers used to package cannabis products is expected to increase 34% annually from $156 million in 2019 to $670 million in 2024. All container types are anticipated to see extremely fast growth along with expansion in the marijuana and hemp industries:

 

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