New Zealand Cannabidiol Market Size & Outlook, 2023-2030
New Zealand cannabidiol market, 2018-2030 (US$M)
Related Markets
New Zealand cannabidiol market highlights
- The New Zealand cannabidiol market generated a revenue of USD 13.9 million in 2023 and is expected to reach USD 33.0 million by 2030.
- The New Zealand market is expected to grow at a CAGR of 13.1% 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 13.9 million |
| Market revenue in 2030 | USD 33.0 million |
| Growth rate | 13.1% (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, New Zealand accounted for 0.2% 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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New Zealand 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 62.59% in 2023. Horizon Databook has segmented the New Zealand cannabidiol market based on hemp, marijuana covering the revenue growth of each sub-segment from 2018 to 2030.
The use of medical cannabis has been legalized in New Zealand since December 2018, when the government passed a law to make medical cannabis available to the large patient population suffering from chronic pain. The law also allows manufacturers to produce medicinal cannabis products for local and international markets.
Hence, the medical cannabis market in the country is expected to witness significant growth. Furthermore, in April 2020, the New Zealand Ministry of Health launched a new Medical Cannabis Scheme. The scheme aims to enhance the accessibility of quality medical cannabis products for patients by allowing domestic commercial cultivation, manufacturing, and distribution.
It aligns with the Misuse of Drugs (Medicinal Cannabis) Regulations 2019 and sets quality and licensing standards. The Minister of Health, Dr. David Clark, anticipates that the new regulations will facilitate local cultivation and production of medicinal cannabis, potentially providing relief for numerous individuals.
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Target buyers of New Zealand cannabidiol market databook
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Our clientele includes a mix of cannabidiol market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of country-level data and insights on the New Zealand cannabidiol market , including forecasts for subscribers. This country databook contains high-level insights into New Zealand cannabidiol market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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New Zealand cannabidiol market size, by product, 2018-2030 (US$M)
New Zealand Cannabidiol Market Outlook Share, 2023 & 2030 (US$M)
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