Asia Pacific Legal Cannabis Market Size & Outlook
Asia Pacific legal cannabis market, 2018-2030 (US$M)
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Asia Pacific legal cannabis market highlights
- The Asia Pacific legal cannabis market generated a revenue of USD 2,342.0 million in 2023.
- The market is expected to grow at a CAGR of 48.7% from 2024 to 2030.
- In terms of segment, hemp was the largest revenue generating source in 2023.
- Marijuana is the most lucrative source segment registering the fastest growth during the forecast period.
- Country-wise, Thailand is expected to register the highest CAGR from 2024 to 2030.
Asia Pacific data book summary
| Market revenue in 2023 | USD 2,342.0 million |
| Market revenue in 2030 | USD 37,735.3 million |
| Growth rate | 48.7% (CAGR from 2023 to 2030) |
| Largest segment | Hemp |
| Fastest growing segment | Marijuana |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Marijuana, Hemp |
| Key market players worldwide | Canopy Growth Corp, Aurora Cannabis Inc, Aphria Inc, The Cronos Group, Tilray Brands Inc, Sundial Growers, Insys Therapeutics, The Scotts Miracle Gro Co Class A, MediPharm Labs Corp, Cara Therapeutics Inc, GW Pharmaceuticals |
Other key industry trends
- In terms of revenue, Asia Pacific region accounted for 8.6% of the global legal cannabis market in 2023.
- Globally, North America is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 37,735.3 million by 2030.
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Legal Cannabis Market Scope
Legal Cannabis Market Companies
| Name | Profile | # Employees | HQ | Website |
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Asia Pacific legal cannabis 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 legal cannabis market will help companies and investors design strategic landscapes.
Hemp was the largest segment with a revenue share of 88.17% in 2023. Horizon Databook has segmented the Asia Pacific legal cannabis market based on marijuana, hemp covering the revenue growth of each sub-segment from 2018 to 2030.
Cannabis regulations in Asia vary significantly between countries. These laws are strongly dependent on traditional, cultural, and religious beliefs of people. For instance, cannabis plays a major role in Afghanistan’s predominant culture.
Despite using cannabis in the form of hashish, its cultivation & use as cannabis or derivatives such as CBD is strictly prohibited. In many other countries of the region, CBD remains illegal, primarily because the countries do not differentiate between hemp and marijuana.
They are considered emerging markets for cannabis and derivatives. There is potential for growth in Asia region due to favorable climatic conditions and increasing awareness about CBD benefits.
Reasons to subscribe to Asia Pacific legal cannabis market databook:
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Strategic advantage: By staying updated with the latest market intelligence, companies can stay ahead of competitors, anticipate industry shifts, and capitalize on emerging opportunities.
Target buyers of Asia Pacific legal cannabis market databook
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Our clientele includes a mix of legal cannabis 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 continent-level data and insights on the Asia Pacific legal cannabis market , including forecasts for subscribers. This continent databook contains high-level insights into Asia Pacific legal cannabis market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
Partial client list
Asia Pacific legal cannabis market size, by country, 2018-2030 (US$M)
Asia Pacific Legal Cannabis Market Outlook Share, 2023 & 2030 (US$M)
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