Latin America Cannabidiol Market

Latin America Cannabidiol Market Size (2022 to 2027)

As per our research report, the Latin America Cannabidiol Market size is forecasted to be growing at a CAGR of 20.2% during the forecast period.

Cannabidiol (CBD) for anxiety relief, its benefits in neurodegenerative disorders, in the relief of arthritis pain, chronic pain, muscle pain, spinal cord injury, etc. it can stimulate its demand and adoption by many patients. Researchers are also evaluating the potential effect of CBD in Alzheimer's disease, Parkinson's disease, stroke, etc. When extracted from the marijuana plant as an oil or powder, CBD oil can be mixed into creams or gels for application to the body, or capsules/tablets are formed for oral intake. Therefore, as awareness of CBD oil increases among the general public, its demand will increase.

CBD products offer a welcome alternative to countries where the stigma of marijuana is high, and the importation of non-psychoactive oils prevents competition or diversion into the illicit market.

Several countries, including Chile, Mexico, Colombia, Brazil, Argentina, Peru, and Uruguay, have implemented medical marijuana programs, which largely create larger opportunities in the CBD market. The structure of many of these programs requires a person to receive a prescription for medical cannabis from their doctor and then permission from the government to import products in their own name for treatment, which is a huge boost to the growth of the Latin American CBD Oil market.

Many Latin American governments are finally taking steps to create legal markets for cannabis and CBD products, business opportunities for domestic retail sales are still limited. Thus, it adds further difficulty in approving imports and completing the shipping process to Latin America on time. Side effects such as liver damage, risk of sedation and drowsiness, diarrhea, etc. Some people may experience a decrease in appetite and feel that their concentration power is reduced when consumed in large doses. This is why there are controversies to legalize it all over Latin America, and therefore, it can affect growth for years to come.

Impact of COVID-19 on the Latin American Cannabidiol Market:

CBD drinks are increasing in prevalence due to continued stress from the COVID-19 pandemic. The cannabis market is one of the few markets to have seen moderate growth during the pandemic. According to reputable manufacturers, consumers add it to their drink, for example, to coffee. Many companies strive to develop their brands as energy boosters and help people relax from their busy lifestyles. Since CBD is legal in almost all parts of Europe and the United States, it is easier to find and buy, increasing CBD oil sales.

This research report on the Latin America CBD Oil Market has been segmented & sub-segmented into the following categories:

By Type:

• Hemp

• Marijuana

By Distribution Channel:

• B2B

• B2C

  • Hospital Pharmacies

  • Online

  • Retail Stores

By End Users:

• Medical

  • Chronic Pain

  • Mental Disorders

  • Cancer

  • Others

• Personal Use

• Pharmaceuticals

• Wellness

  • Food & Beverages

  • Personal Care & Cosmetics

  • Nutraceuticals

  • Others

By Country:

• Mexico

• Brazil

• Argentina

• Chile

• Rest of Latin America

Regional Analysis:

While beauty, skincare, and other personal care products are likely to gain traction in Latin America, particularly in Colombia and Mexico, where a legal marketing framework already exists, adoption will continue to be limited to relatively small business populations with the highest incomes in the region.

The Brazilian cannabidiol market is expected to lead the Latin American market from 2022 to 2027. The Mexican Cannabidiol Market is estimated to grow at the fastest rate in the Latin American region. It creates a great opportunity for producers of products, from medicinal products to recreational products. With a population of 128 million, Mexico is the largest adult market in the world.

The Argentina Cannabidiol Market is forecasted to perform well during the forecast period. Argentina Allows CBD when allowed by a doctor for medical purposes. The process requires that there is scientific evidence that CBD can help treat the condition. The user also needs a doctor to prescribe it.

KEY MARKET PARTICIPANTS:

Pharmahemp d.o.o, ENDOCA, NuLeaf Naturals LLC, Folium Biosciences, Elixinol, Cannoid LLC, Medical Marijuana Inc., and Isodiol International Inc. are some of the companies operating in the Latin American Cannabidiol Market