Australia Cannabis Cultivation Market Size & Outlook

The cannabis cultivation market in Australia is expected to reach a projected revenue of US$ 2,966.2 million by 2030. A compound annual growth rate of 23.1% is expected of Australia cannabis cultivation market from 2023 to 2030.
Revenue, 2022 (US$M)
$564.0
Forecast, 2030 (US$M)
$2,966.2
CAGR, 2023 - 2030
23.1%
Report Coverage
Australia

Australia cannabis cultivation market, 2018-2030 (US$M)

Australia

Australia cannabis cultivation market highlights

  • The Australia cannabis cultivation market generated a revenue of USD 564.0 million in 2022 and is expected to reach USD 2,966.2 million by 2030.
  • The Australia market is expected to grow at a CAGR of 23.1% from 2023 to 2030.
  • In terms of segment, hemp was the largest revenue generating biomass in 2022.
  • Marijuana is the most lucrative biomass segment registering the fastest growth during the forecast period.


Cannabis cultivation market data book summary

Market revenue in 2022USD 564.0 million
Market revenue in 2030USD 2,966.2 million
Growth rate23.1% (CAGR from 2022 to 2030)
Largest segmentHemp
Fastest growing segmentMarijuana
Historical data2018 - 2021
Base year2022
Forecast period2023 - 2030
Quantitative unitsRevenue in USD million
Market segmentationHemp, Marijuana
Key market players worldwideCanopy Growth Corp, Aurora Cannabis Inc, Tilray Brands Inc, The Cronos Group, OrganiGram Holdings Inc, Atlas Growers, CannTrust Holdings Inc, The Hydropothecary Corp, Cannabist Company Holdings Inc, Aurora Cannabis


Other key industry trends

  • In terms of revenue, Australia accounted for 0.1% of the global cannabis cultivation market in 2022.
  • Country-wise, South Africa is expected to lead the global market in terms of revenue in 2030.
  • In Asia Pacific, China cannabis cultivation market is projected to lead the regional market in terms of revenue in 2030.
  • China is the fastest growing regional market in Asia Pacific and is projected to reach USD 52,446.0 million by 2030.

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Cannabis Cultivation Market Companies

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Australia cannabis cultivation 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 cannabis cultivation market will help companies and investors design strategic landscapes.


Hemp was the largest segment with a revenue share of 78.21% in 2022. Horizon Databook has segmented the Australia cannabis cultivation market based on hemp, marijuana covering the revenue growth of each sub-segment from 2018 to 2030.


Since legalization of medical marijuana in 2016, the number of patients seeking prescription has tremendously increased in Australia. The number of companies operating in the medical marijuana market is also rising, with new companies being listed on the Australian Stock Exchange (ASX).

Several local companies have begun applying for cultivation license and are being funded or acquired by major players. The Australian medical marijuana market is expected to witness a comparatively slower growth than its counterparts in North America; this is mainly due the stringent regulatory guidelines for prescribing medical marijuana as a therapeutic product.

In Australia, medical marijuana is prescribed based on the type of disease, depending on data obtained from clinical trials. As the government and Therapeutic Goods Administration are formulating guidelines for prescription of medical marijuana, the market is expected to witness growth in the coming years.

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Horizon Databook provides a detailed overview of country-level data and insights on the Australia cannabis cultivation market , including forecasts for subscribers. This country databook contains high-level insights into Australia cannabis cultivation market from 2018 to 2030, including revenue numbers, major trends, and company profiles.

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Australia cannabis cultivation market size, by biomass, 2018-2030 (US$M)

Australia Cannabis Cultivation Market Outlook Share, 2022 & 2030 (US$M)

Australia cannabis cultivation market size, by biomass, 2018-2030 (US$M)

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