Colombia Legal Cannabis Market Size & Outlook, 2023-2030
Colombia legal cannabis market, 2018-2030 (US$M)
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Colombia legal cannabis market highlights
- The Colombia legal cannabis market generated a revenue of USD 26.5 million in 2023 and is expected to reach USD 146.7 million by 2030.
- The Colombia market is expected to grow at a CAGR of 27.7% 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 26.5 million |
| Market revenue in 2030 | USD 146.7 million |
| Growth rate | 27.7% (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, Colombia 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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Colombia 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 73.21% in 2023. Horizon Databook has segmented the Colombia legal cannabis market based on marijuana, hemp covering the revenue growth of each sub-segment from 2018 to 2030.
Colombia decriminalized the possession of cannabis in 2012 and later legalized cannabis for medicinal use in 2015. With legalization of medical cannabis in Colombia, the government is anticipated to support research efforts for provision of reliable and safe cannabis to patients.
Moreover, the government is involved in educating physicians about medical use and potential side effects of marijuana and/or cannabis. These efforts taken by the government in promoting the medicinal use of cannabis in the country are expected to boost the demand in Colombia.
Patients in Colombia have an option of personal cultivation of medical cannabis or purchase from a licensed producer without any restrictions to the quantity of the purchase or possession of medical marijuana.
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Horizon Databook provides a detailed overview of country-level data and insights on the Colombia legal cannabis market , including forecasts for subscribers. This country databook contains high-level insights into Colombia legal cannabis market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Colombia legal cannabis market size, by source, 2018-2030 (US$M)
Colombia Legal Cannabis Market Outlook Share, 2023 & 2030 (US$M)
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