Latin America Cannabidiol (CBD) Market

Goals

To provide the market size as well as current regulations in the Latin America Cannabidiol (CBD) market. An ideal response would include;
  • The market size in US$ value for both the consumer and commercial markets in Argentina, Uruguay, and Paraguay.
  • The specific regulation in each country surrounding the types/names of CBD products that can be imported and sold locally.

Early Findings

Data Availability

  • The initial round of research indicates that data availability surrounding the market size for both the consumer and commercial cannabidiol (CBD) markets in Argentina, Uruguay, and Paraguay is low to limited. However, data availability on the current regulations in each country appears to be adequate.

Latin American CBD Market Size

  • The global cannabidiol (CBD) market size was valued at $2.8 billion in 2020 and is expected to grow at a CAGR) of 21.2% from 2021 to 2028.
  • According to an article by the LatinAmerican Post, the CBD market in Latin America is currently valued at $9.8 billion.
  • A recent report by Market Data Forecast stated that the CBD market in Latin America is expected to grow at a CAGR of 20.2 percent between 2021 and 2026.
  • A report by Statista stated that in 2020, the CBD market in Uruguay was estimated at an approximate value of $4 million and is expected to reach $5.5 million by 2024.
  • Another survey by Statista found out that Brazil had the largest cannabis market in 2019 with an estimated value of $2.38 billion followed by Mexico, Chile, Argentina, and Colombia at $1.91 billion, $1.54 billion, $1.11 billion, and $0.67 billion, respectively. The rest of Latin America had a market value of $2.14 billion.

Summary

  • Our initial hour of research focused on ensuring that the research question could be answered using publicly available sources and then providing insights on the Latin America Cannabidiol (CBD) market size.
  • As explained in the data availability statement, information on the market size in US$ value for both the consumer and commercial markets in Argentina, Uruguay, and Paraguay is limited in the public domain
  • For a deeper dive into the market size as well as current regulations in the Latin America Cannabidiol (CBD) market, we recommend further research. Details on our recommended research paths have been provided in our proposals below.

Research proposal:

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