Recreational and medical cannabis packaging poised for growth
The 13-page white paper, “Here To Stay Or Up In Smoke? A Look at the U.S. Cannabis Market,” says sales are growing rapidly, and formats are shifting away from cannabis as a flower/bud into more processed formats of oils, edibles, and topical products.
This provides an opportunity for ancillary businesses like packaging to grow and expand within the industry as well. Current estimates put the cannabis packaging market at less than 1% of industry sales at $15 million. However, experts believe the pace of growth for packaging may eclipse the growth rate of the overall cannabis market as legalization spreads to more states.
