A Flourishing Industry
Despite legal inconsistencies regulating the industry, Cannabis continues to boom. It seems to be growing exponentially, with more and more Cannabis-based businesses and products entering the market place daily. This industry is thriving in every sense of the word, and so are its investors. Part of the reason why the Cannabis industry is able to grow so quickly is because its territory has been expanding bit by bit. While it is still considered illegal due to federal law, 30 states and counting have approved the plant for medical use. Nine of those states have also approved it for recreational use. This has led to economic stimulation, job creation, and a huge spike in sales. It is estimated that by 2021, the Cannabis industry will bring in $21 billion. The growing industry has proven to be a huge money maker on a state level and personal level.
Corporate Giants and Cannabis
But while this industry has been the realm of individual businesses and start-ups since its initial growth, don’t expect it to last forever. As the legalization of Cannabis spreads, corporate giants such as Heineken are already beginning to swoop in on the booming industry. Other corporate giants like Coca-Cola are still waiting for the federal go-ahead, but that still doesn’t guarantee safety for small businesses.
Regardless of whether small businesses or large corporations are dominating the market with Cannabis-laced products, one thing is certain.
One of the greatest challenges for business owners and packaging designers working within or alongside the Cannabis industry is the lack of clear regulation. While there are legal regulations and requirements, they are often in flux or they fall into a confusing grey area between state laws and federal laws. This makes it an ongoing challenge to design consistent packaging materials with accurate information.
Another challenge is the tension between legal requirements and consumer preference. According to the law, Cannabis products have to be thoroughly packaged in multiple layers of material, some of which should be child-proof. However, customers have expressed their displeasure with the ‘excessive’ and ‘wasteful’ packaging of Cannabis products. Consumers also feel annoyed they have to peel away so many layers of packaging just to reach their product.
Despite some of the challenges, packaging development and branding in the Cannabis industry offers lots of opportunities for creativity. Business owners and package designers have the unique challenge to brand products in such a way to help consumers forget the taboo associated with the product. The product has to be elevated and transformed.
Some popular styles of packaging that have developed in the Cannabis industry are:
- Minimalist – clean crisp packaging with black and white accents
- Luxurious – artistically colored and shaped to show elegance and sophistication
- Futuristic – black and white packaging with unexpected elements like neon
- Natural – natural tones such as greens and browns throughout
Nearly all product packaging is designed with a certain target market in mind. Each product is created to lure in that chosen market. There are many different, carefully designed styles emerging in the Cannabis industry. Brands are going above and beyond to distinguish themselves and elevate the perception of their products.
Evolution of the Industry
As this industry continue to grow, it will also continue to change. Regulations will certainly change, as will industry players and product packaging styles. One consistent factor that will likely hold true is the massive amount of financial potential in the Cannabis industry.