Mexico - Latin America Cannabis Cultivation Market Size & Outlook
Mexico - Latin America Cannabis Cultivation Market, 2018-2030 (US$M)
Global Market
Related Markets
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.
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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Cannabis Cultivation Market Scope
Cannabis Cultivation Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|---|---|---|---|
| Aurora Cannabis Inc | View profile | 1,130 | 3498 63 Avenue, Leduc, AB, Canada, T9E 0G8 | www.auroramj.com |
| Canopy Growth Corp | View profile | 1,621 | 1 Hershey Drive, Smiths Falls, ON, Canada, K7A 0A8 | www.canopygrowth.com |
| Tilray Brands Inc | View profile | 1,600 | 265 Talbot Street West, Leamington, ON, Canada, N8H 5L4 | www.tilray.com |
| The Cronos Group | View profile | 1001-5000 | Kontich, Antwerpen, Belgium, Europe | cronos-groep.be/ |
| OrganiGram Holdings Inc | View profile | 987 | 145 King Street West, Suite 1400, Toronto, ON, Canada, M5H 1J8 | www.organigram.ca |
| Atlas Growers | View profile | 11-50 | Edmonton, Alberta, Canada, North America | www.atlasgrowers.com |
| CannTrust Holdings Inc | View profile | 576 | 3280 Langstaff Road, Unit 1, Building 1, Vaughan, ON, Canada, L4K 4Z8 | www.canntrust.ca |
| The Hydropothecary Corp | View profile | 101-250 | Gatineau, Quebec, Canada, North America | thehydropothecary.com/ |
| Cannabist Company Holdings Inc | View profile | 2,221 | 680 Fifth Avenue, 24th Floor, New York, NY, United States, 10019 | cannabistcompany.com |
| Aurora Cannabis | View profile | 1001-5000 | Edmonton, Alberta, Canada, North America | auroramj.com |
Mexico - Latin America 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 Outlook 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 - Latin America 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.
- Mexico - Latin America Cannabis Cultivation Market Biomass Outlook (Revenue, USD Million , 2018-2030)
- Hemp
- Marijuana
- Mexico - Latin America Cannabis Cultivation Market Application Outlook (Revenue, USD Million , 2018-2030)
- Medical
- Adult Use
- Industrial
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Horizon Databook provides a detailed overview of country-level data and insights on the Mexico - Latin America Cannabis Cultivation Market Outlook, including forecasts for subscribers. This country databook contains high-level insights into Mexico - Latin America Cannabis Cultivation Market Outlook from 2018 to 2030, including revenue numbers, major trends, and company profiles.
Mexico - Latin America Cannabis Cultivation Market, 2018-2030 (US$M)
Mexico cannabis cultivation market statistics, by biomass, 2018-2030 (US$M)
