Marijuana’s billion-dollar potential attracts startups despite no cultivation in Brazil

R$26 (US$4.7) billion is Brazil's estimated value that the cannabis market (marijuana plant) could reach in its 4th year of legalized use and cultivation on national soil in three areas: medicinal, industrial and recreational.

RIO DE JANEIRO, BRAZIL - The projection is the result of a survey conducted by Kaya Mind, a Brazilian cannabis data intelligence consultancy. For a better illustration, this amount is equivalent to the entire turnover of the cell phone market in Brazil in 2019. Or, to the value of pesticide production and the sale of inputs for plastic packaging in 2018.

"It is very rare, at the global economy's advanced stage of maturity, for new billion-dollar markets to emerge from scratch, which is what has been happening with the cannabis sector with the recent relaxations regarding the plant worldwide . . .

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