Australia Legal Cannabis Market Size & Outlook, 2023-2030
Australia legal cannabis market, 2018-2030 (US$M)
Related Markets
Australia legal cannabis market highlights
- The Australia legal cannabis market generated a revenue of USD 88.1 million in 2023 and is expected to reach USD 540.6 million by 2030.
- The Australia market is expected to grow at a CAGR of 29.6% 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.
Legal cannabis market data book summary
| Market revenue in 2023 | USD 88.1 million |
| Market revenue in 2030 | USD 540.6 million |
| Growth rate | 29.6% (CAGR from 2023 to 2030) |
| Largest segment | Hemp |
| Fastest growing segment | Marijuana |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 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, Australia accounted for 0.3% of the global legal cannabis market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, Thailand legal cannabis market is projected to lead the regional market in terms of revenue in 2030.
- Thailand is the fastest growing regional market in Asia Pacific and is projected to reach USD 9,624.1 million by 2030.
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Legal Cannabis Market Scope
Legal Cannabis Market Companies
| Name | Profile | # Employees | HQ | Website |
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Australia 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 74.12% in 2023. Horizon Databook has segmented the Australia legal cannabis market based on marijuana, hemp covering the revenue growth of each sub-segment from 2018 to 2030.
Medical cannabis is legal in Australia on prescription basis. Thus, the number of patients seeking medical marijuana for therapeutic benefits has increased. Moreover, the number of companies operating in medical marijuana market is growing.
Many of the companies have also been listed on the Australian Stock Exchange (ASX). As the market is evolving, the number of small local players and entrepreneurs is increasing. These players have started applying for cultivation licenses and are being funded or acquired by major players.
.In addition, accessing medical CBD oil in the country is a complex and expensive process, as no CBD product has been approved by Therapeutic Goods Administration (TGA) the regulatory body for therapeutic goods in Australia.
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Our clientele includes a mix of legal cannabis market companies, investment firms, advisory firms & academic institutions.
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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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Horizon Databook provides a detailed overview of country-level data and insights on the Australia legal cannabis market , including forecasts for subscribers. This country databook contains high-level insights into Australia legal cannabis market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Australia legal cannabis market size, by source, 2018-2030 (US$M)
Australia Legal Cannabis Market Outlook Share, 2023 & 2030 (US$M)
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