Colombia Cannabidiol Market Size & Outlook, 2023-2030
Colombia cannabidiol market, 2018-2030 (US$M)
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Colombia cannabidiol market highlights
- The Colombia cannabidiol market generated a revenue of USD 6.9 million in 2023 and is expected to reach USD 16.5 million by 2030.
- The Colombia market is expected to grow at a CAGR of 13.3% 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 6.9 million |
| Market revenue in 2030 | USD 16.5 million |
| Growth rate | 13.3% (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, Colombia 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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Colombia 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 79.71% in 2023. Horizon Databook has segmented the Colombia cannabidiol market based on hemp, marijuana covering the revenue growth of each sub-segment from 2018 to 2030.
2015. Post-legalization, the government is anticipated to support research efforts for the provision of reliable and safe cannabis products such as oils and tinctures to patients. Moreover, in December 2022, the Colombian Ministry of Health reiterated the requirement for mandatory insurance coverage of plant-based medical cannabis products, including those of Khiron Life Sciences Corp.
This was effective from January 1, 2023, and all insurance providers in Colombia are now required to cover the expenses of medical cannabis prescriptions for patients. In addition, the government is involved in educating physicians on medical use and potential adverse effects. Colombia currently has the most widespread medical cannabis framework in Latin America, allowing the sale and export of medical cannabis extracts.
These efforts taken by the government for promoting the medicinal use of cannabis are expected to increase the demand for medical cannabis in the country. In December 2022, Zerenia Colombia signed an agreement with the largest government-owned insurance company in Bogota, which covers over 1 million people, to deliver healthcare services, including medical cannabis.
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Horizon Databook provides a detailed overview of country-level data and insights on the Colombia cannabidiol market , including forecasts for subscribers. This country databook contains high-level insights into Colombia cannabidiol market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Colombia cannabidiol market size, by product, 2018-2030 (US$M)
Colombia Cannabidiol Market Outlook Share, 2023 & 2030 (US$M)
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