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For the Umpteenth Time, Cannabis Market Hard to Define

The cannabis market remains fragmented and divisive.

Source: Here to Stay or Up in Smoke? A look at the U.S. cannabis market, by PMMI Business Intelligence. Download the whitepaper for free at pwgo.to/3349.
Source: Here to Stay or Up in Smoke? A look at the U.S. cannabis market, by PMMI Business Intelligence. Download the whitepaper for free at pwgo.to/3349.

There has never been a more of a demand for packaging information than there is now for cannabis packaging solutions. PMMI’s special report on cannabis packaging, Here to Stay or Up in Smoke? A Look at the U.S. Cannabis Market, almost two years old now, remains its most popular download, month after month. Yet, raw numbers mean little in a landscape where state-by-state regulations and laws vary widely. Recent standing-room-only presentations at PACK EXPO Las Vegas only reinforced the phenomenon.

The market can be broken up into two major components—THC-based products promising some kind of buzz, and non-THC products based on extracted oils processed from hemp-CBD.

THC (buzz)
Tetrahydrocannabinol (THC) remains controversial, despite a growing number of states allowing both medicinal and recreational cannabis. Tax dollar revenue estimates have generally fallen short and some states have completely blown the launch of recreational cannabis by issuing too many licenses to grow, flooding the market and destroying price structure. California in particular battles a dynamic black market.

Some conservatives refuse to participate in the market citing that it’s “still illegal from a federal perspective,” while others see very little difference in selling into the THC market than packaging beer, cigarettes, hard spirits, and opioids.

Others participate but mask their efforts, even setting up new companies with different names so core customers do not know they are also supplying the cannabis market. Banking regulations are said to be improving.

Cannabis-infused beverages and foods remain illegal from the FDA’s viewpoint—for now—but the agency admits it cannot police the flood of new companies and brands.

The FDA can only pay attention when problems rise to the surface. The recent vaping crisis a perfect example. Pause for a minute and think of a close friend who may have just sunk a life’s savings into a new vape company with tons of flavors! Gulp.

Edible cannabis poses particular problems with dosing, plus child-resistant reclosable options are hard to find, prohibitively expensive, or don’t match sustainability goals. But many predict beer, wine, and spirts will get involved with low-dose cannabis social drinks, due to the recent “mindful drinking” movement resulting in declining beer sales.

Depending on the form the THC cannabis takes, packaging draws from popular categories like carbonated beverages, baked goods, confectionary, etc.

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Break out of the ordinary: see what’s new in life sciences packaging