The Colombia hemp market size is expected to exhibit a growth rate (CAGR) of 17.37% during 2024-2032.
Report Attribute
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Key Statistics
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Base Year
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2023
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Forecast Years
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2024-2032
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Historical Years
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2018-2023
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Market Growth Rate 2024-2032 | 17.37% |
Hemp stands for brown-colored oilseeds that are derived from the Cannabis Sativa plant. Some of the widely available product variants are hemp seeds, CBD hemp oil, hemp seed oil and hemp fiber. These products contain a high amount of nutrients, including omega 3 and 6 fatty acids, vitamin E, potassium, magnesium, sodium, etc. These nutrients offer numerous health benefits in boosting immunity, mitigating inflammation, treating dermatological ailments, improving metabolism, etc. Additionally, the Tetrahydrocannabinol (THC) content present in hemp-based products helps in reducing stress, anxiety, depression, fatigue, and insomnia. As a result, hemp is widely used across diverse industries, such as food & beverages, pharmaceutical, construction, textiles, personal care, etc.
In Colombia, the growing focus on the legalization of cannabis-based products is currently driving the market growth. The increasing awareness towards the medicinal benefits of hemp seeds, hemp oil, and hemp gummies in treating numerous psychological disorders, such as clinical depression, anxiety, bipolar disease, ADHD, etc., is also propelling the product demand. Moreover, the rising adoption of hemp-based products during cancer treatment to reduce the adverse impact of chemotherapy, such as nausea, chronic pain, insomnia, etc., is further augmenting the market in Colombia. Apart from this, numerous ready-to-eat and processed food items, such as hemp-based cereals, bars, smoothies, yogurt, etc., have gained prominence among the millennial and urbanized population of the country. This, in confluence with the increasing consumer inclination towards a protein-rich diet, including hemp-based food and beverages, is also catalyzing the market growth in Colombia. Furthermore, the rising popularity of vegan food trends is further bolstering the demand for hemp-based meat and hemp milk. In the coming years, the growing utilization of hemp in manufacturing naturally-sourced personal grooming products and cosmetics, such as moisturizers, body lotions, skin tightening creams, gels, etc., will continue to drive the market growth in Colombia.
IMARC Group provides an analysis of the key trends in each sub-segment of the Colombia hemp market report, along with forecasts at the country and regional level from 2024-2032. Our report has categorized the market based on type, source, consumer age group and application.
Breakup by Type:
Breakup by Source:
Breakup by Consumer Age Group:
Breakup by Application:
Breakup by Region:
The competitive landscape of the industry has also been examined with some of the key players being Avicanna Inc, Cannabco Pharmaceutical Corp Colombia S A S, CBDINC Group, CBD Seed Co (Hemp Depot), Clever Leaves, Colombian Hemp Company, Khiron Life Sciences Corp., One World Pharma Inc., Pharmacielo Ltd and Sky Hemp Organic.
Report Features | Details |
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Base Year of the Analysis | 2023 |
Historical Period | 2018-2023 |
Forecast Period | 2024-2032 |
Units | US$ Million |
Segment Coverage | Type, Source, Consumer Age Group, Application, Region |
Region Covered | Andean Region, Caribbean Region, Pacific Region, Orinoquía Region, Amazon Region |
Companies Covered | Avicanna Inc, Cannabco Pharmaceutical Corp Colombia S A S, CBDINC Group, CBD Seed Co (Hemp Depot), Clever Leaves, Colombian Hemp Company, Khiron Life Sciences Corp., One World Pharma Inc., Pharmacielo Ltd and Sky Hemp Organic |
Customization Scope | 10% Free Customization |
Report Price and Purchase Option | Single User License: US$ 3699 Five User License: US$ 4699 Corporate License: US$ 5699 |
Post-Sale Analyst Support | 10-12 Weeks |
Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
We expect the Colombia hemp market to exhibit a CAGR of 17.37% during 2024-2032.
The growing demand for ready-to-eat and processed food items, such as hemp-based cereals, bars, smoothies, etc., is primarily driving the Colombia hemp market.
The sudden outbreak of the COVID-19 pandemic has led to the changing consumer inclination from conventional brick-and-mortar distribution channels towards online retail platforms for the purchase of various hemp-based products across the nation.
Based on the type, the Colombia hemp market can be categorized into hemp seed, hemp seed oil, CBD hemp oil, and others. Currently, hemp seed accounts for the majority of the total market share.
Based on the source, the Colombia hemp market has been segregated into conventional and organic, where conventional currently exhibits a clear dominance in the market.
Based on the application, the Colombia hemp market can be bifurcated into food, beverages, personal care product, textiles, pharmaceuticals, construction & materials, and others. Currently, textiles hold the largest market share.
On a regional level, the market has been classified into Andean region, Caribbean region, Pacific region, Orinoquía region, and Amazon region, where Andean region currently dominates the Colombia hemp market.
Some of the major players in the Colombia hemp market include Avicanna Inc, Cannabco Pharmaceutical Corp Colombia S A S, CBDINC Group, CBD Seed Co (Hemp Depot), Clever Leaves, Colombian Hemp Company, Khiron Life Sciences Corp., One World Pharma Inc., Pharmacielo Ltd, and Sky Hemp Organic.