Latin America Cannabis Extract Market Size & Outlook
Latin America cannabis extract market, 2018-2030 (US$M)
Related Markets
Latin America cannabis extract market highlights
- The Latin America cannabis extract market generated a revenue of USD 67.0 million in 2023.
- The market is expected to grow at a CAGR of 23.3% from 2024 to 2030.
- In terms of segment, oils was the largest revenue generating product in 2023.
- Oils is the most lucrative product segment registering the fastest growth during the forecast period.
- Country-wise, Mexico is expected to register the highest CAGR from 2024 to 2030.
Latin America data book summary
| Market revenue in 2023 | USD 67.0 million |
| Market revenue in 2030 | USD 289.5 million |
| Growth rate | 23.3% (CAGR from 2023 to 2030) |
| Largest segment | Oils |
| Fastest growing segment | Oils |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Oils, Tinctures |
| Key market players worldwide | Tikun Olam Cannbit Pharmaceuticals Ltd, Canopy Growth Corp, Tilray Brands Inc, Aurora Cannabis Inc, The Cronos Group, OrganiGram Holdings Inc, Aphria Inc, Maricann Group |
Other key industry trends
- In terms of revenue, Latin America region accounted for 1.5% of the global cannabis extract market in 2023.
- Globally, North America is projected to lead the regional market in terms of revenue in 2030.
- MEA is the fastest growing regional market and is projected to reach USD 2,601.3 million by 2030.
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Cannabis Extract Market Scope
Cannabis Extract Market Companies
| Name | Profile | # Employees | HQ | Website |
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Latin America cannabis extract 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 extract market will help companies and investors design strategic landscapes.
Oils was the largest segment with a revenue share of 61.04% in 2023. Horizon Databook has segmented the Latin America cannabis extract market based on oils, tinctures covering the revenue growth of each sub-segment from 2018 to 2030.
The market growth can be attributed to the increasing acceptance and legalization of cannabis for both medical and, in some cases, recreational use in several countries in the region. This shift in legal status has created opportunities for the production, sale, and export of cannabis-derived products.
For instance, in April 2023, Aurora Cannabis, Inc. announced the expansion of its range of hemp-derived CBD products in Brazil. Through a partnership with Herbarium, a prominent Brazilian herbal medicine company, Aurora is expected to introduce a full-spectrum, single-origin CBD oil with a 3% concentration under the Herbarium brand.
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Target buyers of Latin America cannabis extract market databook
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Our clientele includes a mix of cannabis extract market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of continent-level data and insights on the Latin America cannabis extract market , including forecasts for subscribers. This continent databook contains high-level insights into Latin America cannabis extract market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Latin America cannabis extract market size, by country, 2018-2030 (US$M)
Latin America Cannabis Extract Market Outlook Share, 2023 & 2030 (US$M)
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