Argentina Cannabidiol Market Size & Outlook, 2023-2030
Argentina cannabidiol market, 2018-2030 (US$M)
Related Markets
Argentina cannabidiol market highlights
- The Argentina cannabidiol market generated a revenue of USD 8.8 million in 2023 and is expected to reach USD 26.2 million by 2030.
- The Argentina market is expected to grow at a CAGR of 16.9% from 2024 to 2030.
- In terms of segment, hemp was the largest revenue generating product in 2023.
- Hemp is the most lucrative product segment registering the fastest growth during the forecast period.
Cannabidiol market data book summary
| Market revenue in 2023 | USD 8.8 million |
| Market revenue in 2030 | USD 26.2 million |
| Growth rate | 16.9% (CAGR from 2023 to 2030) |
| Largest segment | Hemp |
| Fastest growing segment | Hemp |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Hemp, Marijuana |
| Key market players worldwide | Medical Marijuana Inc, Canopy Growth Corp, Elixinol Wellness Ltd Ordinary Shares, The Cronos Group, Isodiol International Inc, Endoca, Folium Biosciences, NuLeaf Naturals, PharmaHemp |
Other key industry trends
- In terms of revenue, Argentina accounted for 0.1% of the global cannabidiol market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Latin America, Mexico cannabidiol market is projected to lead the regional market in terms of revenue in 2030.
- Mexico is the fastest growing regional market in Latin America and is projected to reach USD 91.4 million by 2030.
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Cannabidiol Market Scope
Cannabidiol Market Companies
| Name | Profile | # Employees | HQ | Website |
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Argentina cannabidiol market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to cannabidiol market will help companies and investors design strategic landscapes.
Hemp was the largest segment with a revenue share of 71.59% in 2023. Horizon Databook has segmented the Argentina cannabidiol market based on hemp, marijuana covering the revenue growth of each sub-segment from 2018 to 2030.
Argentina legalized the use of CBD for medical purposes in 2017. Argentina passed a law in 2020 that legalized the home cultivation of marijuana for medicinal purposes, as well as the sale of cannabis-derived products in pharmacies. The law also mandated that medical insurance cover marijuana-based medicines for patients with written consent from a physician.
Medical CBD produced is used in treating palliative care to reduce pain in diseases such as arthritis and rheumatism the regulated framework has been laid down by the government for the cultivation of cannabis. Breaching regulation would lead to a fine of up to 100,000 pesos (USD 2,421). In February 2023, Argentina established a new national agency, ARICCAME, with the objective of expanding the country's cannabis industry.
The move is expected to create new jobs and export opportunities for the nation. Speaking at the conference launching ARICCAME, Economy Minister Sergio Massa emphasized the potential for Argentina to meet the high global demand for industrial exports in the cannabis sector.
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Horizon Databook provides a detailed overview of country-level data and insights on the Argentina cannabidiol market , including forecasts for subscribers. This country databook contains high-level insights into Argentina cannabidiol market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Argentina cannabidiol market size, by product, 2018-2030 (US$M)
Argentina Cannabidiol Market Outlook Share, 2023 & 2030 (US$M)
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