Mexico Cannabis Cultivation Market Size & Outlook
Mexico cannabis cultivation market, 2018-2030 (US$M)
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Mexico cannabis cultivation market highlights
- The Mexico cannabis cultivation market generated a revenue of USD 1,440.1 million in 2022 and is expected to reach USD 6,834.8 million by 2030.
- The Mexico market is expected to grow at a CAGR of 21.5% from 2023 to 2030.
- In terms of segment, hemp was the largest revenue generating biomass in 2022.
- Marijuana is the most lucrative biomass segment registering the fastest growth during the forecast period.
Cannabis cultivation market data book summary
| Market revenue in 2022 | USD 1,440.1 million |
| Market revenue in 2030 | USD 6,834.8 million |
| Growth rate | 21.5% (CAGR from 2022 to 2030) |
| Largest segment | Hemp |
| Fastest growing segment | Marijuana |
| Historical data | 2018 - 2021 |
| Base year | 2022 |
| Forecast period | 2023 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Hemp, Marijuana |
| Key market players worldwide | Canopy Growth Corp, Aurora Cannabis Inc, Tilray Brands Inc, The Cronos Group, OrganiGram Holdings Inc, Atlas Growers, CannTrust Holdings Inc, The Hydropothecary Corp, Cannabist Company Holdings Inc, Aurora Cannabis |
Other key industry trends
- In terms of revenue, Mexico accounted for 0.4% of the global cannabis cultivation market in 2022.
- Country-wise, South Africa is expected to lead the global market in terms of revenue in 2030.
- In Latin America, Chile cannabis cultivation market is projected to lead the regional market in terms of revenue in 2030.
- Colombia is the fastest growing regional market in Latin America and is projected to reach USD 2,020.1 million by 2030.
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Cannabis Cultivation Market Scope
Cannabis Cultivation Market Companies
| Name | Profile | # Employees | HQ | Website |
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Mexico cannabis cultivation 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 cannabis cultivation market will help companies and investors design strategic landscapes.
Hemp was the largest segment with a revenue share of 78.2% in 2022. Horizon Databook has segmented the Mexico cannabis cultivation market based on hemp, marijuana covering the revenue growth of each sub-segment from 2018 to 2030.
Medical use of marijuana has been permitted on select basis since 2015. However, it was legalized in Mexico on June 19, 2017. The medical marijuana program is in its nascent stage and the Ministry of Health has been assigned by the Mexican government to create regulations and criteria for the program.
In addition, the incidence of diseases such as cancer, autism, and Alzheimer’s has increased in the past few years. Therefore, legalization of medical marijuana in Mexico is expected to drive the market over the forecast period.
Furthermore, one of the criteria laid out is that all medications to be consumed should contain only 1% or lower THC content. Moreover, people in Mexico are conservative compared to that in the U.S. and use of marijuana for recreational purpose is highly stigmatized.
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Our clientele includes a mix of cannabis cultivation 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 Mexico cannabis cultivation market , including forecasts for subscribers. This country databook contains high-level insights into Mexico cannabis cultivation market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Mexico cannabis cultivation market size, by biomass, 2018-2030 (US$M)
Mexico Cannabis Cultivation Market Outlook Share, 2022 & 2030 (US$M)
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