As shown in the Magic Number® Cannabis Patent Forecast®, companies are increasing their investment in cannabis-related patents. The $19 billion US Cannabis industry is expected to continue to grow as more states continue to legalize recreational cannabis. Therefore, it may become increasingly common to see carrying cases for recreational and medical cannabis products. Like other industries, manufacturers of these carrying cases will be expected to have environmentally friendly packaging.
There are a few companies that currently offer environmentally friendly packaging for cannabis related products, but they do not have patents covering their products:
Sun Grown Packaging offers a box that does not contain plastic. However, its patents are not directed to environmentally friendly packaging.
MM Green Packaging offers recyclable, biodegradable, and compostable packaging for flowers, pre-rolls, vape cartridges, and more. They also do not have any published applications for their packaging.
Sana Packaging is another business directed towards cannabis packaging that uses 100% plant-based hemp plastic, 100% reclaimed ocean plastic, and other sustainable materials. It has two design patents for tubes and containers but zero utility patent applications for technology related to its cannabis packaging.
Clearly, there is a lack of activity for the patent protection of cannabis-related biodegradable packaging. This is where PAQ HOLDINGS (PAQcase) could gain some serious value. It was issued a patent relating to an airtight child-resistant case. The patent discusses a case being used for cannabis including biodegradable material which is more than the companies mentioned above have in their patent portfolio. PAQcase should continue to grow its patent portfolio by targeting biodegradable packaging as it should improve the companies' market positioning as the cannabis market continues to grow.
Sun Grown Packaging, MM Green Packaging, and Sana Packaging need to step up their patent activity and direct their future patent applications towards compostable, biodegradable packaging in order to provide themselves protection and to provide a bargaining tool for potential licensing or acquisitions.
Want to see other areas for potential patent investment? Try out a free trial of the Biodegradable Packaging Patent Forecast® or the Cannabis Patent Forecast® here!
