Do you know the 4E trends in the development of the cannabis packaging industry for 2024?

The rapid growth of the cannabis supplies industry requires the packaging services industry to increase efficiency.The Cannabis market worldwide is projected to reach a revenue of US$51.27bn in 2023. It is expected to show an annual growth rate (CAGR 2023-2028) of 14.95%, resulting in a market volume of US$102.90bn by 2028.Faced with such huge market growth, cannabis packaging service providers need to sense industry and customer needs more efficiently and improve the efficiency of business, design and manufacturing processes.

An increasing number of countries and regions are legalizing cannabis products for recreational use.So far countries that have legalized recreational use of cannabis are Canada, Georgia, Luxembourg, Malta, Mexico, South Africa, Thailand, and Uruguay, plus 24 states, 3 territories, and the District of Columbia in the United States and the Australian Capital Territory in Australia.In view of this, the demand for recreational cannabis product packaging is bound to surge, and industry service providers must pay attention.

According to United Nations Environment Programme, about 36 per cent of all plastics produced are used in packaging.Using biodegradable, recyclable, and reusable materials in packaging has become a mandatory consideration for every industry brand. Moreover, consumers now factor this into their purchasing decisions. Over 90% of Ghettopac's products are made from environmentally friendly materials, with over 30% utilizing recycled and reusable materials.

The trend of an increasing proportion of online transactions in cannabis packaging needs our attention. As we all know, the level of logistics development determines the form of trade. Today's convenient cross-border logistics even makes it possible to purchase most daily consumer goods online.In general, express air freight services can offer delivery times of 1-3 business days, while standard air freight services can take anywhere from 5 to 10 business days.Based on the size of your package or the shipping mode, the shipment will take anywhere from 2 days to 4 weeks.This makes it easier to satisfy small-scale wholesale and small-scale customization, and it also forces the supply chain to develop in a more flexible, mobile and flexible direction.