13 Million Annual Cannabis Users and a $9.8B USD Cannabis Market in Latin America
February 13, 2019
New Frontier Data Publishes First Regional Latin America Cannabis Industry Report
Washington, Feb. 13, 2019 (GLOBE NEWSWIRE) — New Frontier Data, the authority in data analytics and business intelligence on the global cannabis industry, in partnership with The GreenHub and sponsored by Verdemed, releases its first in a series of regional cannabis market overviews, The Latin America Regional Cannabis Report: 2019 Industry Outlook, estimating the total addressable cannabis market (regulated and illicit) at $9.8 billion USD with Brazil ($2.4 billion), Mexico ($1.9 billion), Chile ($1.5 billion), Argentina ($1.1 billion) and Colombia ($0.7 billion) the top five regional markets. The Latin American countries included in the report account for 600 million people, among whom 13 million use cannabis at least annually.
“As the international community increasingly addresses cannabis reform and engages with the legalized cannabis industry, myriad opportunities are manifesting themselves in places where not long ago such activity seemed unimaginable,” said New Frontier Data Founder and CEO Giadha Aguirre de Carcer. “At a time when the cannabis industry has truly gone global, as regions and nations are positioning to be net importers or net exporters, regional views of the cannabis industry are essential to understanding trade drivers, barriers to entry, and overall regional socio-economic dynamics in these booming and emerging markets.”
This report offers an introduction to the Latin American cannabis markets, trends and activities in the region, including in-depth analysis on the opportunities and challenges of the region as its countries explore cannabis policies and reforms. A sampling of key takeaways from the report include:
- There will be multiple ways in which cannabis business operations will be established in Latin America, including vertical integration and cooperative farms.
- Significant investment by well-capitalized Canadian companies will accelerate the scaling and professionalization of Latin American operators.
- Due to lower average cannabis prices in Latin America compared to the U.S. and Canada, cannabis retail revenues will be significantly lower in the region than in equivalent North American or European markets.
- Widely varying regulations across the region will require foreign companies to invest heavily to understand unique dynamics in each country.
- More education of physicians and health care practitioners will be critical to supporting medical cannabis programs.
- As more Latin American counties consider full legalization, cannatourism will present a significant opportunity in the region.
The report and its findings have been released to Latin American regional Government Officials and large multinational executives at the InterCannAlliance Latin American Cannabis Symposium in Panama City, Panama, a New Frontier Data-led event in partnership with the Hoban Law Group, Cohn Reznick, Steep Hill Labs, Simplifya, Mountain Medicine and TheraCann.
Download The Latin America Regional Cannabis Report: 2019 Industry Outlook at: https://newfrontierdata.com/product/latam2019/
About New Frontier Data:
New Frontier Data is an independent, technology-driven analytics company specializing in the cannabis industry. It offers vetted data, actionable business intelligence and risk management solutions for investors, operators, researchers and policymakers. New Frontier Data’s reports and data have been cited in over 80 countries around the world to inform industry leaders. Founded in 2014, New Frontier Data is headquartered in Washington, D.C. with additional offices in Denver, CO, and London, UK.
New Frontier Data does not take a position on the merits of cannabis legalization. Rather, its mission and mandate are to inform cannabis-related policy and business decisions through rigorous, issue-neutral and comprehensive analysis of the legal cannabis industry worldwide. For more information about New Frontier Data, please visit: http://www.NewFrontierData.com.
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