Uruguay Cannabidiol Market Size & Outlook, 2023-2030
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Uruguay cannabidiol market highlights
- The Uruguay cannabidiol market generated a revenue of USD 5.7 million in 2023 and is expected to reach USD 12.5 million by 2030.
- The Uruguay market is expected to grow at a CAGR of 11.9% 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 5.7 million |
| Market revenue in 2030 | USD 12.5 million |
| Growth rate | 11.9% (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, Uruguay 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 |
|---|---|---|---|---|
| PharmaHemp | View profile | 51-100 | Ljubljana, Ljubljana Urban Commune, Slovenia, Europe | https://b2b.pharma-hemp.com |
| NuLeaf Naturals | View profile | 51-100 | Denver, Colorado, United States, North America | https://nuleafnaturals.com/ |
| Folium Biosciences | View profile | 101-250 | Colorado Springs, Colorado, United States, North America | https://foliumbiosciences.com/ |
| Endoca | View profile | 1-10 | Hoofddorp, Noord-Holland, The Netherlands, Europe | https://www.endoca.com/pl |
| Isodiol International Inc | View profile | 197 | 200 Granville Street, Suite 2710, Vancouver, BC, Canada, V6C 1S4 | https://www.isodiol.com |
| Elixinol Wellness Ltd Ordinary Shares | View profile | - | 680 George Street, Level 12, Sydney, NSW, Australia, 2000 | https://www.elixinolwellness.com |
| Medical Marijuana Inc | View profile | 85 | 2384 La Mirada Drive, Vista, CA, United States, 92081 | https://www.medicalmarijuanainc.com |
| The Cronos Group | View profile | 1001-5000 | Kontich, Antwerpen, Belgium, Europe | https://cronos-groep.be/ |
| Canopy Growth Corp | View profile | 1621 | 1 Hershey Drive, Smiths Falls, ON, Canada, K7A 0A8 | https://www.canopygrowth.com |
Uruguay 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 71.93% in 2023. Horizon Databook has segmented the Uruguay cannabidiol market based on hemp, marijuana covering the revenue growth of each sub-segment from 2018 to 2030.
Uruguay legalized the sale of medical and recreational cannabis in 2012. The government of Uruguay launched medical cannabis program in 2017, which made registration with the government mandatory for purchasing or growing cannabis. Uruguay’s government regulates the cultivation, distribution, and prices of medical cannabis.
The government has also capped cultivation of cannabis for personal use to 480 grams, and the price of medical cannabis sold through pharmacies is capped at USD 1.30 per gram to curb the cannabis black market. Cannabis has never been criminalized in Uruguay, as the government had legalized medical and recreational cannabis with the hope of reducing drug-related crimes and restraining the cannabis black market.
Hence, the price of cannabis in pharmacies is less than the price of cannabis available on the street, which in turn promotes medical cannabis purchases. International Cannabis Corporation (ICC) a company headquartered in Montevideo produced its first batch of medical cannabis oil for export in October 2017. ICC is also planning to set up a laboratory for the extraction of cannabis oil on a larger scale.
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Target buyers of Uruguay cannabidiol market databook
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Our clientele includes a mix of cannabidiol 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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Horizon Databook provides a detailed overview of country-level data and insights on the Uruguay cannabidiol market , including forecasts for subscribers. This country databook contains high-level insights into Uruguay cannabidiol market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Uruguay cannabidiol market size, by product, 2018-2030 (US$M)
Uruguay Cannabidiol Market Outlook Share, 2023 & 2030 (US$M)
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