Colombia Legal Marijuana Market Size & Outlook, 2023-2030
Colombia Legal Marijuana Market, 2018-2030 (US$M)
Global Market
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Colombia legal marijuana market highlights
- The Colombia legal marijuana market generated a revenue of USD 7.1 million in 2023 and is expected to reach USD 89.4 million by 2030.
- The Colombia market is expected to grow at a CAGR of 43.6% from 2024 to 2030.
- In terms of segment, medical use was the largest revenue generating application in 2023.
- Adult Use is the most lucrative application segment registering the fastest growth during the forecast period.
Legal marijuana market data book summary
| Market revenue in 2023 | USD 7.1 million |
| Market revenue in 2030 | USD 89.4 million |
| Growth rate | 43.6% (CAGR from 2023 to 2030) |
| Largest segment | Medical use |
| Fastest growing segment | Adult Use |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Medical Use, Adult Use |
| Key market players worldwide | Canopy Growth Corp, Aurora Cannabis Inc, Tilray Brands Inc, MediPharm Labs Corp, The Cronos Group, Wayland Group Corp, OrganiGram Holdings Inc, Lexaria Bioscience Corp, GW Pharmaceuticals |
Other key industry trends
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Latin America, Mexico legal marijuana 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 230.0 million by 2030.
Colombia decriminalized the possession of marijuana in 2012 and later legalized the marijuana for medicinal use in 2015. With legalizing of medical marijuana in Colombia, the government is anticipated to support research efforts for provision of reliable and safe cannabis to patients.
These efforts taken by the government in promoting the medicinal use of marijuana in the country is expected to increase the demand for medical marijuana in the country.
Colombia is witnessing a rush of international cannabis market players, owing to advanced regulatory framework, cheaper cultivation & production costs, favorable weather conditions, and beefed-up security.
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Legal Marijuana Market Scope
Legal Marijuana 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 |
| MediPharm Labs Corp | View profile | 166 | 151 John Street, Barrie, ON, Canada, L4N 2L1 | www.medipharmlabs.com |
| GW Pharmaceuticals | View profile | 51-100 | Histon, Cambridgeshire, United Kingdom, Europe | gwpharm.com |
| Wayland Group Corp | View profile | - | 845 Harrington Court, Unit 3, Burlington, ON, Canada, L7N 3P3 | www.waylandgroup.com |
| Lexaria Bioscience Corp | View profile | 3 | 740 McCurdy Road, Suite 100, Kelowna, BC, Canada, V1X 2P7 | www.lexariabioscience.com |
Colombia Legal Marijuana 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 Legal Marijuana Market Outlook will help companies and investors design strategic landscapes.
Medical Use was the largest segment with a revenue share of 91.55% in 2023.
Horizon Databook has segmented the Colombia legal marijuana market based on medical use, adult use covering the revenue growth of each sub-segment from 2018 to 2030.
Colombia decriminalized the possession of marijuana in 2012 and later legalized the marijuana for medicinal use in 2015. With legalizing of medical marijuana in Colombia, the government is anticipated to support research efforts for provision of reliable and safe cannabis to patients.
These efforts taken by the government in promoting the medicinal use of marijuana in the country is expected to increase the demand for medical marijuana in the country.
Colombia is witnessing a rush of international cannabis market players, owing to advanced regulatory framework, cheaper cultivation & production costs, favorable weather conditions, and beefed-up security.
- Colombia Legal Marijuana Market Application Outlook (Revenue, USD Million , 2018-2030)
- Medical Use
- Adult Use
- Colombia Legal Marijuana Market Product Outlook (Revenue, USD Million , 2018-2030)
- Flower
- Oil and Tinctures
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Horizon Databook provides a detailed overview of country-level data and insights on the Colombia Legal Marijuana Market Outlook, including forecasts for subscribers. This country databook contains high-level insights into Colombia Legal Marijuana Market Outlook from 2018 to 2030, including revenue numbers, major trends, and company profiles.
Colombia Legal Marijuana Market, 2018-2030 (US$M)
Colombia legal marijuana market statistics, by application, 2018-2030 (US$M)
