Colombia Hemp Market

Market Overview:

The Colombia hemp market size is expected to exhibit a growth rate (CAGR) of 17.37% during 2024-2032.

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.

Key Market Segmentation:

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:

• Hemp Seed
• Hemp Seed Oil
• CBD Hemp Oil
• Others
   

Breakup by Source:

• Conventional
• Organic
   

Breakup by Consumer Age Group:

• 18-24
• 25-34
• 35-44
• 45-54
• 55-64
• Above 65
   

Breakup by Application:

• Food
  • Snacks and Cereals
  • Soups, Sauces and Seasonings
  • Bakery
  • Dairy and Frozen Desserts
  • Others
• Beverages
  • Hot Beverages
  • Sports and Energy Drinks
  • Ready to Drink
  • Others
• Personal Care Product
• Textiles
• Pharmaceuticals
• Construction & Materials
• Others
   

Breakup by Region:

• Andean Region
• Caribbean Region
• Pacific Region
• Orinoquía Region
• Amazon Region

Competitive Landscape:

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 Coverage: