Latin America Industrial Hemp Market Size & Outlook
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Latin America industrial hemp market highlights
- The Latin America industrial hemp market generated a revenue of USD 579.2 million in 2023.
- The market is expected to grow at a CAGR of 11.1% from 2024 to 2030.
- In terms of segment, fiber was the largest revenue generating product in 2023.
- Seeds is the most lucrative product segment registering the fastest growth during the forecast period.
- Country-wise, Brazil is expected to register the highest CAGR from 2024 to 2030.
Latin America data book summary
| Market revenue in 2023 | USD 579.2 million |
| Market revenue in 2030 | USD 1,205.7 million |
| Growth rate | 11.1% (CAGR from 2024 to 2030) |
| Largest segment | Fiber |
| Fastest growing segment | Seeds |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Seeds, Fiber, Shives |
| Key market players worldwide | Marijuana Company of America Inc, Medical Marijuana Inc, Tetra Tech Inc, American Medical Technologies Inc, Hemp Inc, Ecofibre Ltd Ordinary Shares |
Other key industry trends
- In terms of revenue, Latin America region accounted for 10.5% of the global industrial hemp market in 2023.
- Globally, North America is projected to lead the regional market in terms of revenue in 2030.
- North America is the fastest growing regional market and is projected to reach USD 6,967.4 million by 2030.
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Industrial Hemp Market Scope
Industrial Hemp Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|---|---|---|---|
| Ecofibre Ltd Ordinary Shares | View profile | - | 680 George Street, Level 12, Sydney, NSW, Australia, 2000 | https://www.ecofibre.com |
| Hemp Inc | View profile | - | 7380 S. EASTERN AVE., No. 124-342, Las Vegas, NV, United States, 89123 | https://www.hempinc.com |
| Medical Marijuana Inc | View profile | 85 | 2384 La Mirada Drive, Vista, CA, United States, 92081 | https://www.medicalmarijuanainc.com |
| Marijuana Company of America Inc | View profile | 7 | 633 West 5th Street, Suite 2826, Los Angeles, CA, United States, 90071 | http://www.marijuanacompanyofamerica.com |
| American Medical Technologies Inc | View profile | 14 | 5556 Bear Lane, Corpus Christi, TX, United States, 78405 | - |
| Tetra Tech Inc | View profile | 27000 | 3475 East Foothill Boulevard, Pasadena, CA, United States, 91107 | https://www.tetratech.com |
Latin America industrial hemp 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 industrial hemp market will help companies and investors design strategic landscapes.
Fiber was the largest segment with a revenue share of 47.27% in 2023. Horizon Databook has segmented the Latin America industrial hemp market based on seeds, fiber, shives covering the revenue growth of each sub-segment from 2018 to 2030.
Growing demand for ecofriendly and natural hemp from wide range of application industries with increasing consumer awareness regarding harmful effects of synthetic products is expected to drive the market growth over the forecast period.
According to Hemp Industries Association, hemp retail sales in the U.S. have estimated an average growth of 15% during 2010-2015 with majority of growth from hemp based personal care products, supplements, food & beverages and industrial products.
Canada has commercially legalized industrial hemp production in 1998 and is the largest exporter of hemp seed and oil-cake to the U.S. Canadian hemp industry.
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Our clientele includes a mix of industrial hemp market companies, investment firms, advisory firms & academic institutions.
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Horizon Databook provides a detailed overview of continent-level data and insights on the Latin America industrial hemp market , including forecasts for subscribers. This continent databook contains high-level insights into Latin America industrial hemp market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Latin America industrial hemp market size, by country, 2018-2030 (US$M)
Latin America Industrial Hemp Market Outlook Share, 2023 & 2030 (US$M)
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