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:
- Jars and bottles—which together will account for 62% of sales gains—are versatile and see widespread use across nearly all cannabis delivery formats, including flowers, edibles and topicals.
- Folding cartons and bags and pouches are expected to post very strong increases due to rapid gains in the popularity of edibles.
Packaging suppliers will remain competitive by offering containers that can support product differentiation, such as high-quality graphics and a premium image. Such containers include glass bottles and vials, metal tins and niche packaging types such as cloth bags.