Many countries are in the process of regulating to open up the market, and Latin America is no different.
Euromonitor has compiled a ‘readiness’ index for the global cannabis market, taking into account factors such as political will, consumer perception, use as an ingredient, regulatory environment and company activity.
Unsurprisingly, North America ranks highest – both the US and Canada have a score in the nineties – and Latin America is next on the list. It scores 63, putting it ahead of Europe, which has 55.
Within the Latin America region, Euromonitor places Uruguay highest, followed by Colombia, Mexico, Jamaica and Argentina.