Introduction
In recent years, Colombia has ventured into a new and promising business: the production of cannabis-based foods and beverages. This emerging market has sparked interest both nationally and internationally, and is expected to see significant growth in the coming years. In this article, we will explore the current panorama of this industry in Colombia, the current regulations and the opportunities it offers for the country.
The legal framework and opportunities
The Colombian government has taken an important step in the regulation of cannabis products. Resolution 227, published on February 18, 2022, establishes the legal framework for the use of components of the cannabis plant in food and beverages. According to this resolution, it is possible to produce products such as foods, alcoholic beverages and dietary supplements using non-psychoactive cannabis components.
This regulation has opened the doors to a promising market for Colombian companies. Currently, there are nearly 700 companies authorized to manufacture cannabis derivatives in the country, and this number is expected to continue increasing. In addition, it is estimated that exports of foods and beverages with cannabis could generate significant profits for Colombia in the coming years.
The export potential
One of the main advantages of the cannabis food and beverage industry in Colombia is its export potential. Currently, these companies are focused on production for the international market, especially to countries such as the United States and Australia. In the first half of 2022, exports of these products reached $4 million, and this figure is expected to continue increasing.
The impact on the local industry
While exports are an important part of this business, companies are also interested in marketing their products in the local market. Currently, they are waiting for regulation by the National Institute for Food and Drug Surveillance (INVIMA) to be able to sell their products in Colombia. This regulation is expected to occur in the near future, which will open new opportunities for the cannabis food and beverage industry in the country.
Global market growth
Globally, the cannabis food and beverage market is experiencing significant growth. According to a BDSA report, cannabis edibles are expected to account for around 15% of the market by 2025. Gummies and chocolates are the most popular products in this category, and their demand is estimated to continue to increase.
Conclusions
In summary, the cannabis food and beverage business in Colombia is booming and offers great opportunities both nationally and internationally. The current regulations have laid the foundation for the development of this industry, and exports are expected to generate significant profits for the country in the coming years. In addition, the opening of the local market will provide new opportunities for Colombian companies. This is certainly a sector worth monitoring closely as it has considerable growth potential.
