Brazil Cannabidiol Market Size & Outlook, 2023-2030
Brazil cannabidiol market, 2018-2030 (US$M)
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Brazil cannabidiol market highlights
- The Brazil cannabidiol market generated a revenue of USD 15.1 million in 2023 and is expected to reach USD 41.3 million by 2030.
- The Brazil market is expected to grow at a CAGR of 15.5% 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 15.1 million |
| Market revenue in 2030 | USD 41.3 million |
| Growth rate | 15.5% (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, Brazil accounted for 0.2% 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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Brazil 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 77.48% in 2023. Horizon Databook has segmented the Brazil cannabidiol market based on hemp, marijuana covering the revenue growth of each sub-segment from 2018 to 2030.
The Brazilian cannabis market is rapidly expanding, despite the lack of regulation, due to the emergence of numerous startups catering to different industry affairs. The market's potential is vast, with Brazil having one of the world's largest consumer markets and a population set to reach 215 million by the end of 2022. Although medical cannabis use among Brazilians is currently low, at approximately 41,000 individuals, it is expected to grow substantially.
Prohibition Partners' LATAMReport 2022 reveals that medical cannabis imports into Brazil rose by 39% in 2021, with the remainder being supplied by domestic producers. Brazil has legalized the use of Medicinal CBD oil since 2015 resulting in increasing demand for the product. The country is one of the top importers of CBD oil. Medical marijuana patients in Brazil must apply for ANVISA for individual permits, which have a maximum validity of a year but can be renewed.
However, the use of CBD for recreational purposes is still illegal in the country. Medical Marijuana, Inc. offers CBD-based medical products through its subsidiary Hemp Meds Brazil. The product has been approved by the Brazilian government for the treatment of cancer. The country has previously approved the CBD product, called Real Scientific Hemp Oil (RSHO), for the treatment of chronic pain, epilepsy, and Parkinson’s disease as a prescription medication.
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Our clientele includes a mix of cannabidiol market companies, investment firms, advisory firms & academic institutions.
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Horizon Databook provides a detailed overview of country-level data and insights on the Brazil cannabidiol market , including forecasts for subscribers. This country databook contains high-level insights into Brazil cannabidiol market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Brazil cannabidiol market size, by product, 2018-2030 (US$M)
Brazil Cannabidiol Market Outlook Share, 2023 & 2030 (US$M)
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