WhatTheyThink

Premium Commentary & Analysis

The Cannabis Gold Rush: New Business Opportunities in Packaging and Apparel Are Here for the Taking

The first in a series of articles about the current cannabis landscape. While this is a high-growth market opportunity for packaging converters, it is also still a Wild West environment, and there are many misunderstandings about what it is comprised of, what’s legal and what’s not, and what the actual benefits of cannabis-derived products are from a health and well-being perspective. In this introductory feature, Cary Sherburne provides an overview of the current state of the market, including definitions, and applications, as well as developments in packaging and even apparel.

Tuesday, March 17, 2020

(Be sure to register for “The Cannabis Gold Rush” LunchNLearn webinar, Wednesday, March 18, at 1 pm ET.)

Cannabis, once widely spurned by authorities as an illicit drug, is gaining legal status in a number of geographies around the globe. Research firm Smithers reports that the value of the legal cannabis market globally will more than double from $21 billion in 2019 to $55 billion in 2024.

Cannabis products also have special packaging requirements, depending on the chemical content of cannabis-based products and the strain of cannabis sativa, or hemp, from which it is extracted. Smithers forecasts that as the market evolves, the value of packaging for legal cannabis products will rise from $493 million to exceed $1.63 billion in 2024. This is equivalent to a year-on-year growth rate of around 24%, well in excess of other more established consumer goods.


Continue reading your article
with a WhatTheyThink membership.

WhatTheyThink Annual Membership

Less than $4/week.

Get unlimited access to in-depth commentary and analysis covering the latest trends, emerging technologies, operational strategies, and key events across every segment of today's printing industry.

Stay informed. Stay competitive. Stay ahead.
WhatTheyThink Day Pass

$5 for 24 hours

Unlimited access to all of WhatTheyThink. Get your Day Pass

Already a member?
Sign In

About Cary Sherburne

Cary Sherburne is a well-known author, journalist and marketing consultant whose practice is focused on marketing communications strategies for the printing and publishing industries.

Cary Sherburne is available for speaking engagements and consulting projects. To get more information contact us.

Please offer your feedback to Cary. She can be reached at [email protected].

Recent Articles from Cary Sherburne

Toby Weiss Leaving Fiery After 17 years

Toby Weiss Leaving Fiery After 17 years

After 17 years with Fiery, culminating in his role as CEO, Toby Weiss is leaving the company to take on the role of CEO at Securonix, with the task of scaling the next era of AI-Powered security operations. In this interview. Toby shares some of his favorite experiences at Fiery as well as some of the challenges. While this move might seem unusual, Toby explains that he joined Fiery from the cybersecurity industry and is looking forward to get back into it, although he will miss Fiery and its people and customers, and our industry will certainly miss him! Read More

Haley Haar’s Strategic Vision Results in Business Growth

Haley Haar’s Strategic Vision Results in Business Growth

In a recent interview, Haley Haar, Owner/President of AlphaGraphics Kansas City, explained how she brought the Kansas City center from about $450,000 in annual revenues to nearly $2 million through strategic planning and a deep understanding of customer needs and requirements. Read More

U.S. Hemp Goes International

U.S. Hemp Goes International

While the U.S. domestic textile industry is struggling to grow, the U.S. farming industry could play an important role in making textiles more sustainable with arrangements such as the recently announced deal for Panda Biotech to provide U.S. grown hemp fibers to the Indian textile market. Read More

Strategic Planning Spurs Growth at AlphaGraphics Kansas City

Strategic Planning Spurs Growth at AlphaGraphics Kansas City

When Haley Haar took over AlphaGraphics in Kansas City, the business generated about $600,000 annually. Today, she has led the company in a growth path approaching $2 million in annual revenues through careful strategic planning and a deep understanding of customer needs and requirements. Read More

Tariffs and Textiles: Will They Help Bring Back U.S. textile Manufacturing?

Tariffs and Textiles: Will They Help Bring Back U.S. textile Manufacturing?

So supposedly, a goal of U.S. tariffs on products imported from other countries, including textiles, apparel, and footwear, was to incentivize bringing manufacturing back to the States. Of course, setting up a new factory takes time and money; it doesn’t happen overnight. But it seems that producers had other ideas…the results may surprise you. Read More