Expected to grow by 21% per year until 2023, the cannabis industry, and the laws that govern it, are changing faster than nearly any other industry in the nation. Accelerated growth can mean big profits for cannabis businesses, but it can also mean uncertainty and risk. Just take one look at this table from the National Conference of State Legislatures, and you can see how varied and nuanced cannabis laws are across the country, and they are changing every year.
With the evolution of such regulations, cannabis businesses must learn to be nimble in all things, but particularly in packaging and labeling. A large investment in packaging or printing can quickly become a total loss when regulations change.
In California, for example, child resistant packaging will be required from the manufacturer starting in 2020, but in the meantime, retailers are responsible for using child-resistant exit packages for all marijuana products. Timing those orders to have enough, but not too much, packaging is tough.
Getting your cannabis products into compliance before regulations go into effect is crucial. Here are three ways that cannabis companies can get themselves into trouble with obsolete packaging:
- Buying into packaging that only allows for large run production – Packaging runs need to be nimble enough to keep up as regulations quickly evolve, so retailers and/or manufacturers didn’t get stuck with large quantities of the wrong kind of packaging.
- Slow turnaround times for custom packaging – If there is one thing for sure about the cannabis industry, it is that things are changing – fast. When a company needs a new label to meet a regulation or a new graphic to promote the latest product, that packaging needs to be turned around quickly in order to take advantage of market opportunities and avoid penalties.
- Buying generic packaging without custom printing options – When it comes to the changing labeling requirements, a good packaging company with custom printing and labeling technology is the cannabis company’s best friend. Keeping up with labeling requirements is as easy as calling an experienced production manager, rather than sourcing new packaging and separate labels and then finding a way to merge the two as quickly as possible.
At Budpack, we have learned how to cater our packaging needs around the ever-evolving cannabis landscape. Our cannabis packaging is designed with changing regulations in mind. To keep up with a fast-paced industry, we provide short runs, fast turnarounds, child-resistant certified stock sizes, and custom printing.