IMARC Group’s report titled “Colombia Hemp Market Report by Type (Hemp Seed, Hemp Seed Oil, CBD Hemp Oil, and Others), Source (Conventional, Organic), Consumer Age Group (18-24, 25-34, 35-44, 45-54, 55-64, Above 65), Application (Food, Beverages, Personal Care Product, Textiles, Pharmaceuticals, Construction & Materials, and Others), and Region 2024-2032. The Colombia hemp market size is expected to exhibit a growth rate (CAGR) of 17.37% during 2024-2032.
Hemp is a type of oilseed that comes from the Cannabis Sativa plant and has a brownish color. It offers various hemp products, including hemp seeds, hemp fiber, CBD hemp oil, and hemp seed oil. These products contain essential nutrients such as omega-3 and omega-6 fatty acids, potassium, magnesium, vitamin E, and sodium. These nutrients offer several health benefits, including boosting the immune system, reducing inflammation, treating skin conditions, and improving metabolism. Therefore, hemp is widely used for treating high cholesterol levels and eczema and by cancer patients to alleviate pain. It is also utilized in manufacturing gluten-free food products and personal care items. It is commonly available in various forms, such as whole seed, shelled seed, hemp oil, and protein powder. The hemp-based products also contain Tetrahydrocannabinol (THC), which can help reduce stress, anxiety, depression, fatigue, and insomnia. As a result, hemp finds extensive applications in food and beverages, pharmaceuticals, personal care products, and the textile industry across Colombia.
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Colombia Hemp Market Trends:
The Colombia hemp market is primarily driven by the rising focus on legalizing hemp across the country. Moreover, the growing awareness regarding the therapeutic benefits of hemp seeds, hemp oil, and hemp gummies in treating psychological disorders such as anxiety, depression, ADHD, and bipolar disease has augmented the product demand. Along with this, the surging adoption of hemp-based products to mitigate chemotherapy side effects, such as chronic pain, insomnia, and nausea, during cancer treatment is positively influencing the market growth. Additionally, there has been a rise in the popularity of ready-to-eat (RTE) and processed food items, including hemp-based cereals, bars, smoothies, and yogurt among millennials and the urban population. In line with this, the increasing consumer preference for protein-rich diets that include hemp-based foods and beverages has catalyzed market growth. Besides this, the escalating demand for hemp-based meat and hemp milk due to the rising veganism trend is another major growth-inducing factor. Furthermore, the increasing use of hemp in producing naturally sourced personal grooming products and cosmetics, such as moisturizers, skin tightening creams, body lotions, and gels, is contributing to the market growth. Apart from this, heavy investments in product innovations by key players across Colombia to launch hemp-based food and beverages, such as chocolates, breakfast items, and smoothies, are propelling the market growth. Other factors, including the rising utilization of hemp in manufacturing medicines, rapid growth in the food and beverages (F&B) sector, rising consumer health consciousness, and increasing demand for hemp in various non-food sectors, are also anticipated to provide a positive impact on the market growth.
Colombia Hemp Market Report Segmentation:
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 with Key Player:
- Avicanna Inc
- Cannabco Pharmaceutical Corp Colombia S A
- , 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.
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