Australia Medical Marijuana Market Size & Outlook
The medical marijuana market in Australia is expected to reach a projected revenue of US$ 142.8 million by 2030. A compound annual growth rate of 31% is expected of Australia medical marijuana market from 2024 to 2030.
Revenue, 2023 (US$M)
$21.6
Forecast, 2030 (US$M)
$142.8
CAGR, 2024 - 2030
31%
Report Coverage
Australia
Australia medical marijuana market, 2018-2030 (US$M)
Related Markets
Australia medical marijuana market highlights
- The Australia medical marijuana market generated a revenue of USD 21.6 million in 2023 and is expected to reach USD 142.8 million by 2030.
- The Australia market is expected to grow at a CAGR of 31% from 2024 to 2030.
- In terms of segment, oil and tinctures was the largest revenue generating product in 2023.
- Oil and Tinctures is the most lucrative product segment registering the fastest growth during the forecast period.
Medical marijuana market data book summary
| Market revenue in 2023 | USD 21.6 million |
| Market revenue in 2030 | USD 142.8 million |
| Growth rate | 31% (CAGR from 2023 to 2030) |
| Largest segment | Oil and tinctures |
| Fastest growing segment | Oil and Tinctures |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Flower, Oil and Tinctures |
| Key market players worldwide | Tilray Brands Inc, Aurora Cannabis Inc, Canopy Growth Corp, Aphria Inc, Wayland Group Corp, Aurora Cannabis, GW Pharmaceuticals, Cannabis Sativa Inc, Medical Marijuana Inc |
Other key industry trends
- In terms of revenue, Australia accounted for 0.1% of the global medical 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 medical 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 1,435.7 million by 2030.
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Medical Marijuana Market Scope
Medical marijuana market segmentation & scope
Others
Medical Marijuana Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Australia medical 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 medical marijuana market will help companies and investors design strategic landscapes.
Oil and tinctures was the largest segment with a revenue share of 53.24% in 2023. Horizon Databook has segmented the Australia medical marijuana market based on flower, oil and tinctures covering the revenue growth of each sub-segment from 2018 to 2030.
- Australia Medical Marijuana Product Outlook (Revenue, USD Million, 2018-2030)
- Flower
- Oil and Tinctures
- Australia Medical Marijuana Application Outlook (Revenue, USD Million, 2018-2030)
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Horizon Databook provides a detailed overview of country-level data and insights on the Australia medical marijuana market , including forecasts for subscribers. This country databook contains high-level insights into Australia medical marijuana market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Australia medical marijuana market size, by product, 2018-2030 (US$M)
Australia Medical Marijuana Market Outlook Share, 2023 & 2030 (US$M)
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