Mexico Hemp CBD Market Foreseen To Increase Exponentially By 2030 Mexico Hemp CBD Industry According

Rahul Nikade

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Mexico Hemp CBD Market Foreseen To Increase Exponentially By 2030

Mexico Hemp CBD Industry

According to a recent report by Grand View Research, Inc., the Mexico hemp-derived cannabidiol (CBD) market is projected to reach a value of USD 74.3 million by the year 2030. This market is expected to grow at a robust revenue-based Compound Annual Growth Rate (CAGR) of 26.1% during the forecast period from 2023 to 2030. A key factor contributing to this growth is the recent regulatory approval by the Mexican government allowing the use of medical cannabis and cannabidiol-based products that contain less than 1% Tetrahydrocannabinol (THC). This regulatory development has significantly opened up the market for a range of therapeutic and wellness applications. Additionally, the continuous introduction of innovative hemp-derived CBD products, coupled with increasing consumer acceptance due to their various health and wellness benefits, is anticipated to further drive market expansion in the years ahead.

In terms of distribution channels, the Business-to-Business (B2B) segment is projected to dominate the market in terms of revenue share as of 2022. Furthermore, this segment is expected to exhibit the fastest growth during the forecast period, with an anticipated CAGR of 26.5%. The rapid proliferation of retail and e-commerce platforms offering hemp-derived CBD products is one of the driving forces behind this trend. Moreover, the growing number of Mexican enterprises engaged in the importation of cannabidiol oil for use in the production of various consumer goods—such as dietary supplements, personal care and cosmetic products, as well as food and beverages—is significantly contributing to the robust growth of the B2B channel.

On the basis of end use, the market has been segmented into several categories: personal use, personal care and cosmetics, food and beverages, nutraceuticals, and others. Among these, the personal use segment is anticipated to hold the leading market share in 2022. The increasing demand for CBD oil for applications related to relaxation, stress relief, and general wellness is a major factor propelling the growth of this segment. Meanwhile, the food and beverage segment is expected to witness the highest growth rate over the forecast period. This surge in demand is being driven by rising consumer awareness about the health-promoting properties of cannabidiol and an overall shift towards improved lifestyles, particularly among health-conscious populations. As consumers become more informed and proactive about their well-being, the inclusion of CBD in everyday consumables is becoming increasingly mainstream.

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Mexico Hemp CBD Market Segments Highlights:

The B2B channel is anticipated to dominate the market in terms of revenue share in 2022 and is expected to be the fastest-growing segment with a CAGR of 26.5% over the forecast period
The pharmaceutical segment is anticipated to dominate the market for hemp CBD with a revenue share of over 45% in 2022 and is expected to grow at the fastest CAGR of 27.1% over the forecast period
Mexico is the second-largest market for personal care products in Latin America

Mexico Hemp CBD Market Report Segmentation

Grand View Research has segmented the Mexico hemp CBD market based on sale type and end use

Mexico Hemp Cannabidiol (CBD) Sale Type Outlook (Revenue in USD Million, 2018 - 2030)

Mexico Hemp Cannabidiol (CBD) End Use Outlook (Revenue in USD Million, 2018 - 2030)