Australia Cannabidiol Market Size & Outlook, 2023-2030
Australia cannabidiol market, 2018-2030 (US$M)
Related Markets
Australia cannabidiol market highlights
- The Australia cannabidiol market generated a revenue of USD 32.3 million in 2023 and is expected to reach USD 247.6 million by 2030.
- The Australia market is expected to grow at a CAGR of 33.8% from 2024 to 2030.
- In terms of segment, hemp was the largest revenue generating product in 2023.
- Hemp is the most lucrative product segment registering the fastest growth during the forecast period.
Cannabidiol market data book summary
| Market revenue in 2023 | USD 32.3 million |
| Market revenue in 2030 | USD 247.6 million |
| Growth rate | 33.8% (CAGR from 2023 to 2030) |
| Largest segment | Hemp |
| Fastest growing segment | Hemp |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Hemp, Marijuana |
| Key market players worldwide | Medical Marijuana Inc, Canopy Growth Corp, Elixinol Wellness Ltd Ordinary Shares, The Cronos Group, Isodiol International Inc, Endoca, Folium Biosciences, NuLeaf Naturals, PharmaHemp |
Other key industry trends
- In terms of revenue, Australia accounted for 0.4% of the global cannabidiol market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, Japan cannabidiol market is projected to lead the regional market in terms of revenue in 2030.
- Australia is the fastest growing regional market in Asia Pacific and is projected to reach USD 247.6 million by 2030.
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Cannabidiol Market Scope
Cannabidiol Market Companies
| Name | Profile | # Employees | HQ | Website |
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Australia cannabidiol market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to cannabidiol market will help companies and investors design strategic landscapes.
Hemp was the largest segment with a revenue share of 79.88% in 2023. Horizon Databook has segmented the Australia cannabidiol market based on hemp, marijuana covering the revenue growth of each sub-segment from 2018 to 2030.
Since the legalization of medical cannabis in Australia in 2016, the number of patients seeking a prescription for medical cannabis and its derived products has increased tremendously. The number of companies operating in the medical cannabis market is also rising, with new companies being listed on the Australian Stock Exchange (ASX).
In April 2023, Aurora Cannabis Inc. and MedReleaf Australia collaborated to introduce IndiMed Tempo 26, a line of new dried cannabis products with higher THC content for eligible patients under the MedReleaf Concession Scheme (MCS). The introduction of Tempo 26 to the product portfolio offers medical practitioners a broader range of prescription options for their cannabis patients.
However, the Australian CBD market is expected to witness slower growth as compared to North America, mainly due to stringent regulatory guidelines for prescribing medical cannabis (oils and tinctures) as a therapeutic product in Australia.
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Horizon Databook provides a detailed overview of country-level data and insights on the Australia cannabidiol market , including forecasts for subscribers. This country databook contains high-level insights into Australia cannabidiol market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Australia cannabidiol market size, by product, 2018-2030 (US$M)
Australia Cannabidiol Market Outlook Share, 2023 & 2030 (US$M)
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