Australia Legal Marijuana Market Size & Outlook, 2023-2030
Australia legal marijuana market, 2018-2030 (US$M)
Related Markets
Australia legal marijuana market highlights
- The Australia legal marijuana market generated a revenue of USD 22.8 million in 2023 and is expected to reach USD 320.1 million by 2030.
- The Australia market is expected to grow at a CAGR of 45.8% from 2024 to 2030.
- In terms of segment, medical use was the largest revenue generating application in 2023.
- Adult Use is the most lucrative application segment registering the fastest growth during the forecast period.
Legal marijuana market data book summary
| Market revenue in 2023 | USD 22.8 million |
| Market revenue in 2030 | USD 320.1 million |
| Growth rate | 45.8% (CAGR from 2023 to 2030) |
| Largest segment | Medical use |
| Fastest growing segment | Adult Use |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Medical Use, Adult Use |
| Key market players worldwide | Canopy Growth Corp, Aurora Cannabis Inc, Tilray Brands Inc, MediPharm Labs Corp, The Cronos Group, Wayland Group Corp, OrganiGram Holdings Inc, Lexaria Bioscience Corp, GW Pharmaceuticals |
Other key industry trends
- In terms of revenue, Australia accounted for 0.1% of the global legal marijuana 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 marijuana 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 2,934.9 million by 2030.
No credit card required*
Horizon in a snapshot
- 30K+ Global Market Reports
- 120K+ Country Reports
- 1.2M+ Market Statistics
- 200K+ Company Profiles
- Industry insights and more
Legal Marijuana Market Scope
Legal Marijuana Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Australia legal marijuana 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 marijuana market will help companies and investors design strategic landscapes.
Medical use was the largest segment with a revenue share of 94.74% in 2023. Horizon Databook has segmented the Australia legal marijuana market based on medical use, adult use covering the revenue growth of each sub-segment from 2018 to 2030.
Since legalization of medical marijuana, the number of patients seeking prescription has increased tremendously 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 of 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.
Reasons to subscribe to Australia legal marijuana market databook:
-
Access to comprehensive data: Horizon Databook provides over 1 million market statistics and 20,000+ reports, offering extensive coverage across various industries and regions.
-
Informed decision making: Subscribers gain insights into market trends, customer preferences, and competitor strategies, empowering informed business decisions.
-
Cost-Effective solution: It's recognized as the world's most cost-effective market research database, offering high ROI through its vast repository of data and reports.
-
Customizable reports: Tailored reports and analytics allow companies to drill down into specific markets, demographics, or product segments, adapting to unique business needs.
-
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 Australia legal marijuana market databook
-
Our clientele includes a mix of legal marijuana market companies, investment firms, advisory firms & academic institutions.
-
30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
-
Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
-
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 Australia legal marijuana market , including forecasts for subscribers. This country databook contains high-level insights into Australia legal marijuana market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
Partial client list
Australia legal marijuana market size, by application, 2018-2030 (US$M)
Australia Legal Marijuana Market Outlook Share, 2023 & 2030 (US$M)
Related regional statistics
No records
No related regions found.
Sign up - it's easy, and free!
Sign up and get instant basic access to databook, upgrade
when ready, or enjoy our
free plan indefinitely.
Included in Horizon account
- 30K+ Global Market Reports
- 120K+ Country Reports
- 1.2M+ Market Statistics
- 200K+ Company Profiles
- Industry insights and more
