Australia Legal Marijuana Market Size & Outlook, 2023-2030
Australia Legal Marijuana Market, 2018-2030 (US$M)
Global Market
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.
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.
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Legal Marijuana Market Scope
Legal Marijuana Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|---|---|---|---|
| Aurora Cannabis Inc | View profile | 1,130 | 3498 63 Avenue, Leduc, AB, Canada, T9E 0G8 | www.auroramj.com |
| Canopy Growth Corp | View profile | 1,621 | 1 Hershey Drive, Smiths Falls, ON, Canada, K7A 0A8 | www.canopygrowth.com |
| Tilray Brands Inc | View profile | 1,600 | 265 Talbot Street West, Leamington, ON, Canada, N8H 5L4 | www.tilray.com |
| The Cronos Group | View profile | 1001-5000 | Kontich, Antwerpen, Belgium, Europe | cronos-groep.be/ |
| OrganiGram Holdings Inc | View profile | 987 | 145 King Street West, Suite 1400, Toronto, ON, Canada, M5H 1J8 | www.organigram.ca |
| MediPharm Labs Corp | View profile | 166 | 151 John Street, Barrie, ON, Canada, L4N 2L1 | www.medipharmlabs.com |
| GW Pharmaceuticals | View profile | 51-100 | Histon, Cambridgeshire, United Kingdom, Europe | gwpharm.com |
| Wayland Group Corp | View profile | - | 845 Harrington Court, Unit 3, Burlington, ON, Canada, L7N 3P3 | www.waylandgroup.com |
| Lexaria Bioscience Corp | View profile | 3 | 740 McCurdy Road, Suite 100, Kelowna, BC, Canada, V1X 2P7 | www.lexariabioscience.com |
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 Outlook 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.
- Australia Legal Marijuana Market Application Outlook (Revenue, USD Million , 2018-2030)
- Medical Use
- Adult Use
- Australia Legal Marijuana Market Product Outlook (Revenue, USD Million , 2018-2030)
- Flower
- Oil and Tinctures
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Horizon Databook provides a detailed overview of country-level data and insights on the Australia Legal Marijuana Market Outlook, including forecasts for subscribers. This country databook contains high-level insights into Australia Legal Marijuana Market Outlook from 2018 to 2030, including revenue numbers, major trends, and company profiles.
Australia Legal Marijuana Market, 2018-2030 (US$M)
Australia legal marijuana market statistics, by application, 2018-2030 (US$M)
