New Zealand Legal Cannabis Market Size & Outlook
New Zealand legal cannabis market, 2018-2030 (US$M)
Related Markets
New Zealand legal cannabis market highlights
- The New Zealand legal cannabis market generated a revenue of USD 45.0 million in 2023 and is expected to reach USD 218.2 million by 2030.
- The New Zealand market is expected to grow at a CAGR of 25.3% 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 45.0 million |
| Market revenue in 2030 | USD 218.2 million |
| Growth rate | 25.3% (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, New Zealand accounted for 0.2% 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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New Zealand 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% in 2023. Horizon Databook has segmented the New Zealand legal cannabis market based on marijuana, hemp 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. Moreover, the government is planning to launch a scheme to increase access to medical cannabis in the country.
Hence, legal cannabis market in the country is expected to witness significant growth over the forecast period. However, sale and use of cannabis for recreational use is illegal in New Zealand.
Reasons to subscribe to New Zealand 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 New Zealand 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 country-level data and insights on the New Zealand legal cannabis market , including forecasts for subscribers. This country databook contains high-level insights into New Zealand legal cannabis market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
Partial client list
New Zealand legal cannabis market size, by source, 2018-2030 (US$M)
New Zealand Legal Cannabis Market Outlook Share, 2023 & 2030 (US$M)
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