Colombia Cannabis Extract Market Size & Outlook, 2023-2030
Colombia Cannabis Extract Market, 2018-2030 (US$M)
Global Market
Related Markets
Colombia cannabis extract market highlights
- The Colombia cannabis extract market generated a revenue of USD 17.3 million in 2023 and is expected to reach USD 54.8 million by 2030.
- The Colombia market is expected to grow at a CAGR of 17.9% from 2024 to 2030.
- In terms of segment, oils was the largest revenue generating product in 2023.
- Tinctures is the most lucrative product segment registering the fastest growth during the forecast period.
Cannabis extract market data book summary
| Market revenue in 2023 | USD 17.3 million |
| Market revenue in 2030 | USD 54.8 million |
| Growth rate | 17.9% (CAGR from 2023 to 2030) |
| Largest segment | Oils |
| Fastest growing segment | Tinctures |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 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, Colombia accounted for 0.4% of the global cannabis extract market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Latin America, Mexico cannabis extract 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 101.0 million by 2030.
Prominent players in the market include Allied Corp., Flora Growth Corp., Clever Leaves Holdings, Inc., One World Pharma, Inc., Khiron Life Sciences, and Avicanna, among others. Market players are undertaking strategic initiatives, such as acquisitions, partnerships, expansions, and product launches, to expand their market share.
For instance, in December 2022, Allied Corp. successfully completed another transaction involving the sale of an additional 200 kg of cannabis flowers. Moreover, in June 2022, Allied became the first company to export cannabis flowers from Colombia. With this recent shipment of 200 kg, Allied's total shipments, which include quantities of 272 kg, 200 kg, 1,728 kg, and 3,425 kg, demonstrate the establishment of a robust supply chain operating at a commercial scale.
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Cannabis Extract Market Scope
Cannabis Extract 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 |
| Aphria Inc | View profile | 501-1000 | Leamington, Ontario, Canada, North America | aphriainc.com/ |
| Tikun Olam Cannbit Pharmaceuticals Ltd | View profile | 51 | The Fourteenth, Tel Aviv, Israel | www.cannbit.com |
| Maricann Group | View profile | 51-100 | Burlington, Ontario, Canada, North America | www.maricann.com |
Colombia 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 Outlook will help companies and investors design strategic landscapes.
Oils was the largest segment with a revenue share of 57.8% in 2023.
Horizon Databook has segmented the Colombia cannabis extract market based on oils, tinctures covering the revenue growth of each sub-segment from 2018 to 2030.
Prominent players in the market include Allied Corp., Flora Growth Corp., Clever Leaves Holdings, Inc., One World Pharma, Inc., Khiron Life Sciences, and Avicanna, among others. Market players are undertaking strategic initiatives, such as acquisitions, partnerships, expansions, and product launches, to expand their market share.
For instance, in December 2022, Allied Corp. successfully completed another transaction involving the sale of an additional 200 kg of cannabis flowers. Moreover, in June 2022, Allied became the first company to export cannabis flowers from Colombia. With this recent shipment of 200 kg, Allied's total shipments, which include quantities of 272 kg, 200 kg, 1,728 kg, and 3,425 kg, demonstrate the establishment of a robust supply chain operating at a commercial scale.
- Colombia Cannabis Extract Market Product Type Outlook (Revenue, USD Million , 2018-2030)
- Oils
- Tinctures
- Colombia Cannabis Extract Market Extract Type Outlook (Revenue, USD Million , 2018-2030)
- Full Spectrum
- Isolates
- Colombia Cannabis Extract Market Source Outlook (Revenue, USD Million , 2018-2030)
- Hemp
- Marijuana
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Horizon Databook provides a detailed overview of country-level data and insights on the Colombia Cannabis Extract Market Outlook, including forecasts for subscribers. This country databook contains high-level insights into Colombia Cannabis Extract Market Outlook from 2018 to 2030, including revenue numbers, major trends, and company profiles.
Colombia Cannabis Extract Market, 2018-2030 (US$M)
Colombia cannabis extract market statistics, by product, 2018-2030 (US$M)
