The Colombia hemp market exhibited strong growth during 2015-2020. Looking forward, IMARC Group expects the market to grow at a CAGR of around 20% during 2021-2026. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end-use industries. These insights are included in the report as a major market contributor.
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.
Colombia Hemp Market Trends:
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 for growth at the region level from 2021-2026. Our report has categorized the market based on region, 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.
|Base Year of the Analysis||2020|
|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|
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|Post-Sale Analyst Support||10-12 Weeks|
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