Dexter Rosa From The 2019 USCC Expo
Dexter Rosa is the CEO of My Golden Hemp. We talk about the Latin American Cannabis Market. Over the past 24 months, the Latin American cannabis industry* has emerged from the shadows to command the attention of the international cannabis community as over ten major markets have legalized medical cannabis. Legal cannabis sales are worth $125 million in 2018, but that number is expected to rise to $12.7 billion by 2028. The figure comes from the recently published The LATAM Cannabis Report™, by market intelligence and advisory group Prohibition Partners, who have analyzed pricing, consumption and patient datasets in the region.
According to the report, the majority of the market value will come from the medical cannabis sector, forecasted to be worth $8.5 billion by 2028. 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.