Brazil Legal Cannabis Market Size & Outlook, 2023-2030
Brazil legal cannabis market, 2018-2030 (US$M)
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Brazil legal cannabis market highlights
- The Brazil legal cannabis market generated a revenue of USD 40.5 million in 2023 and is expected to reach USD 204.4 million by 2030.
- The Brazil market is expected to grow at a CAGR of 26% from 2024 to 2030.
- In terms of segment, hemp was the largest revenue generating source in 2023.
- Marijuana is the most lucrative source segment registering the fastest growth during the forecast period.
Legal cannabis market data book summary
| Market revenue in 2023 | USD 40.5 million |
| Market revenue in 2030 | USD 204.4 million |
| Growth rate | 26% (CAGR from 2023 to 2030) |
| Largest segment | Hemp |
| Fastest growing segment | Marijuana |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Marijuana, Hemp |
| Key market players worldwide | Canopy Growth Corp, Aurora Cannabis Inc, Aphria Inc, The Cronos Group, Tilray Brands Inc, Sundial Growers, Insys Therapeutics, The Scotts Miracle Gro Co Class A, MediPharm Labs Corp, Cara Therapeutics Inc, GW Pharmaceuticals |
Other key industry trends
- In terms of revenue, Brazil accounted for 0.1% of the global legal cannabis market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Latin America, Mexico legal cannabis 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 377.8 million by 2030.
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Legal Cannabis Market Scope
Legal Cannabis Market Companies
| Name | Profile | # Employees | HQ | Website |
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Brazil legal cannabis 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 legal cannabis market will help companies and investors design strategic landscapes.
Hemp was the largest segment with a revenue share of 73.09% in 2023. Horizon Databook has segmented the Brazil legal cannabis market based on marijuana, hemp covering the revenue growth of each sub-segment from 2018 to 2030.
Production, processing, and sale of cannabis are strictly prohibited in the country. This includes industrial hemp and marijuana, as the government does not differentiate between the two. The country’s laws related to CBD changed in 2015, when it gained legal status in the country.
However, CBD is regarded as a medicine and is only available through a prescription. Furthermore, the import of CBD from other countries is allowed for medical purposes, only if provided with an ANVISA-approved import permit.
The imported products should not contain more than 30 mg of THC per ml and 30 mg of CBD per mL. The permission of CBD-related products for medical purposes created a definitive opportunity for various companies to enter the Brazilian market.
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Our clientele includes a mix of legal cannabis market companies, investment firms, advisory firms & academic institutions.
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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 country-level data and insights on the Brazil legal cannabis market , including forecasts for subscribers. This country databook contains high-level insights into Brazil legal cannabis market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Brazil legal cannabis market size, by source, 2018-2030 (US$M)
Brazil Legal Cannabis Market Outlook Share, 2023 & 2030 (US$M)
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