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Cannabis Packaging market through 2024

New study from Smithers tracks future value of cannabis packaging by sales channel, packaging format, and national market growth.

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New research from Smithers targets one of the fastest expanding niches in the packaging market – legalized cannabis. Its new report, The Future of Cannabis Packaging to 2024 tracks the development of this emerging industry and the transition to a legitimate medicinal and recreational product, and the challenges with supply and designing packaging to engage consumers.

The study is backed by a robust dataset tracking current and future value of cannabis packaging by sales channel, packaging format, and national market. Smithers’ analysis identifies the following top points:

·      Total sales of legal cannabis worldwide will rise from $21 billion in 2019 to reach $55 billion in 2024

·       The total value of cannabis packaging will be $493 million in 2019

·       Year-on-year growth of 24% will drive this value to $1.63 billion in 2024

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