Latin America’s Top 5 Estimated Addressable Cannabis Markets for 2019

  • Investors and cannabis businesses are flocking into Latin America as countries across the region expand legal access to cannabis.
  • Latin America is home to an estimated 12.9 million consumers (per annual usage) who spend nearly $10 billion per year on cannabis.
  • Collectively, Latin Americans annually consume over 5.1 million pounds of cannabis, which underscores the significant market opportunity as legalization extends across the region.
  • Progressive cannabis laws coupled with a strong focus on building exports and low production costs have led to significant international investment into countries in the region including Brazil, Colombia, and Uruguay.
  • This year, Mexico is expected to join Uruguay as the second country in the region to fully legalize adult-use cannabis following the 2018 Supreme Court’s ruling which declared cannabis prohibition as unconstitutional stating “the effects caused by marijuana do not justify an absolute prohibition on its consumption.”