The Hemp Boom No One Saw Coming: Could This Latin American Country Become A Global Leader?
By Javier Hasse via El Planteo
Ecuador is rapidly emerging as a key player in the non-psychoactive cannabis and industrial hemp industries. Since regulation began in 2019, the market has shown steady growth, driven by favorable climate conditions, clear regulations and increasing international demand. With a projected revenue of $17 million by 2025 and exports already underway, the country is positioning itself as one of the region’s rising economies in this sector.
A Growing Market
The Ecuadorian hemp and non-psychoactive cannabis market has expanded significantly. According to the country’s Cannabis and Hemp Industry Cluster, the sector generated $7.2 million in revenue in 2023 and is on track to more than double that by 2025.
Currently, more than 705 companies operate within the sector, primarily in Guayas, Imbabura and Pichincha. Additionally, 2,277 hectares (5626 acres) have been authorized for cultivation, though not …