The South American cannabis industry is set to grow into one of the largest cannabis markets in the world in the next 10 years.
According to The LATAM Cannabis Report™ from well-respected market research firm Prohibition Partners, medical cannabis sales in Latin America will explode to $8.5 billion in the next ten years, up from just $125 million in 2018.
Additional key details from the report:
- Medical cannabis will account for more than two-thirds of the legal cannabis industry in Latin America, worth an estimated $8.5 billion.
- The cannabis sector is set to grow by over 300% per year over the coming decade.
- There are over 40 licensed producers in the region. Colombia has issued the most cultivation licenses in the region, with over 142 licenses to date.
- Facility and construction costs are 80% lower than in North America and Europe.
- Chile and Mexico will be engines of growth in the medical sector while Uruguay and Colombia will encourage region-wide recreational cannabis legislation.
- Patient numbers will increase significantly to over 4.6 million by 2028.
Last month I shared Khiron Life Sciences (KHRN, KHRNF) – a young cannabis company headquartered in Canada that is in position to capitalize on South America’s cannabis market.
I think this second company is also in position to cash in. Continue reading "Colombian Cannabis Leader Up 90%"
