With the global medical marijuana market expected to reach $146 billion by 2025, Latin American startups are challenging Canada and the U.K.’s current dominance of pot production, OZY reports. Companies across the region are cultivating crops en masse, hoping to out-compete Canadian greenhouses on cost and wrestle market share away from North America. Low overhead and 12 hours of daily sunlight year-round are major advantages.
How much are they earning? None of the startups have filed quarterly reports yet, but that hasn’t blunted investor enthusiasm.