Latin America Cannabis Extract Market Size & Outlook
Latin America Cannabis Extract Market, 2018-2030 (US$M)
Global Market
Related Markets
Latin America cannabis extract market highlights
- The Latin America cannabis extract market generated a revenue of USD 67.0 million in 2023.
- The market is expected to grow at a CAGR of 23.3% from 2024 to 2030.
- In terms of segment, oils was the largest revenue generating product in 2023.
- Oils is the most lucrative product segment registering the fastest growth during the forecast period.
- Country-wise, Mexico is expected to register the highest CAGR from 2024 to 2030.
Latin America data book summary
| Market revenue in 2023 | USD 67.0 million |
| Market revenue in 2030 | USD 289.5 million |
| Growth rate | 23.3% (CAGR from 2023 to 2030) |
| Largest segment | Oils |
| Fastest growing segment | Oils |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 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, Latin America region accounted for 1.5% of the global cannabis extract market in 2023.
- Globally, North America is projected to lead the regional market in terms of revenue in 2030.
- MEA is the fastest growing regional market and is projected to reach USD 2,601.3 million by 2030.
The market growth can be attributed to the increasing acceptance and legalization of cannabis for both medical and, in some cases, recreational use in several countries in the region. This shift in legal status has created opportunities for the production, sale, and export of cannabis-derived products.
For instance, in April 2023, Aurora Cannabis, Inc. announced the expansion of its range of hemp-derived CBD products in Brazil. Through a partnership with Herbarium, a prominent Brazilian herbal medicine company, Aurora is expected to introduce a full-spectrum, single-origin CBD oil with a 3% concentration under the Herbarium brand.
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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 |
Latin America 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 61.04% in 2023.
Horizon Databook has segmented the Latin America cannabis extract market based on oils, tinctures covering the revenue growth of each sub-segment from 2018 to 2030.
The market growth can be attributed to the increasing acceptance and legalization of cannabis for both medical and, in some cases, recreational use in several countries in the region. This shift in legal status has created opportunities for the production, sale, and export of cannabis-derived products.
For instance, in April 2023, Aurora Cannabis, Inc. announced the expansion of its range of hemp-derived CBD products in Brazil. Through a partnership with Herbarium, a prominent Brazilian herbal medicine company, Aurora is expected to introduce a full-spectrum, single-origin CBD oil with a 3% concentration under the Herbarium brand.
- Latin America Cannabis Extract Market Product Type Outlook (Revenue, USD Million , 2018-2030)
- Oils
- Tinctures
- Latin America Cannabis Extract Market Extract Type Outlook (Revenue, USD Million , 2018-2030)
- Full Spectrum
- Isolates
- Latin America Cannabis Extract Market Source Outlook (Revenue, USD Million , 2018-2030)
- Hemp
- Marijuana
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Horizon Databook provides a detailed overview of continent-level data and insights on the Latin America Cannabis Extract Market Outlook, including forecasts for subscribers. This continent databook contains high-level insights into Latin America Cannabis Extract Market Outlook from 2018 to 2030, including revenue numbers, major trends, and company profiles.
Latin America Cannabis Extract Market, 2018-2030 (US$M)
Latin America cannabis extract market statistics, by product, 2018-2030 (US$M)
