Source: Marijuana Venture
- Cannabis Packaging companies are discovering very quickly that individualized packaging methods are becoming necessitated by the rise in legalized marijuana. Instead of borrowing packaging ideas made popular by cosmetic and pharmaceutical companies, the packing industry is turning to innovation to better their brand awareness and product presentation.
- Author: “However, cannabis companies’ branding efforts are often undermined by not being able to trademark their brand – the U.S. Trademark Office denies trademark protection to any brands selling cannabis, making it difficult to establish brand identity.”
- PACK EXPO International 2018, convenes more than 2,500 exhibitors and 50,000 spectators, inventors, and sellers, offering opportunities to view technologies that could eventually translate into better packaging options.
Cannabis sales are capturing the full attention of packaging industry
As more states legalize cannabis for medical and recreational use, the formats in use continue to expand from cannabis as a flower/bud into more processed forms like oils, edibles and topical products. This provides an opportunity for ancillary businesses like packaging to grow and expand within the industry, according to Here to Stay or Up in Smoke: A Look at the U.S. Cannabis Market. Produced by PMMI, The Association for Packaging and Processing Technologies, the white paper currently estimates the cannabis packaging market at less than one percent of industry sales at $15 million. Experts believe however that packaging growth may eclipse the overall cannabis market as legalization spreads to more states, packaging becomes more regulated and cannabis brands move towards higher-end and more customized packaging options.
When sales were under $5 billion, most packaging companies were not willing to invest in creating products specifically for the cannabis industry, preferring instead to borrow and adapt packaging products from other sectors such as pharmaceuticals and cosmetics. Now, however, with cannabis sales approaching $10 billion, firms are finding it worthwhile to develop products specifically designed for the unique needs of cannabis companies.
As the industry establishes its foothold, cannabis…