New Zealand Legal Marijuana Market Size & Outlook, 2023-2030
New Zealand Legal Marijuana Market, 2018-2030 (US$M)
Global Market
Related Markets
New Zealand legal marijuana market highlights
- The New Zealand legal marijuana market generated a revenue of USD 11.7 million in 2023 and is expected to reach USD 129.2 million by 2030.
- The New Zealand market is expected to grow at a CAGR of 41% from 2024 to 2030.
- In terms of segment, medical use was the largest revenue generating application in 2023.
- Medical 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 11.7 million |
| Market revenue in 2030 | USD 129.2 million |
| Growth rate | 41% (CAGR from 2023 to 2030) |
| Largest segment | Medical use |
| Fastest growing segment | Medical Use |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Medical 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, New Zealand 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.
In April 2018, New Zealand government legalized medical marijuana consumption and witnessed a surge in the patient numbers. Furthermore, this legalization would permit manufacturers to cultivate cannabis for both the local and international markets.
In August 2018, Hikurangi Cannabis became the first company to receive licenses for medical marijuana cultivation by the government. The number of medical marijuana companies is also rising and there has been a surge in the cultivation license applications.
In April 2020, New Zealand’s Medical Cannabis Agency launched Medical Cannabis Scheme, their latest initiative to improve premium medical cannabis product accessibility. This scheme is aligned with the Misuse of Drugs Regulation 2019 and licenses would be provided to local manufacturers by mid-2020.
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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 |
New Zealand 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 100.0% in 2023.
Horizon Databook has segmented the New Zealand legal marijuana market based on medical use covering the revenue growth of each sub-segment from 2018 to 2030.
In April 2018, New Zealand government legalized medical marijuana consumption and witnessed a surge in the patient numbers. Furthermore, this legalization would permit manufacturers to cultivate cannabis for both the local and international markets.
In August 2018, Hikurangi Cannabis became the first company to receive licenses for medical marijuana cultivation by the government. The number of medical marijuana companies is also rising and there has been a surge in the cultivation license applications.
In April 2020, New Zealand’s Medical Cannabis Agency launched Medical Cannabis Scheme, their latest initiative to improve premium medical cannabis product accessibility. This scheme is aligned with the Misuse of Drugs Regulation 2019 and licenses would be provided to local manufacturers by mid-2020.
- New Zealand Legal Marijuana Market Application Outlook (Revenue, USD Million , 2018-2030)
- Medical Use
- Adult Use
- New Zealand 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 New Zealand Legal Marijuana Market Outlook, including forecasts for subscribers. This country databook contains high-level insights into New Zealand Legal Marijuana Market Outlook from 2018 to 2030, including revenue numbers, major trends, and company profiles.
New Zealand Legal Marijuana Market, 2018-2030 (US$M)
New Zealand legal marijuana market statistics, by application, 2018-2030 (US$M)
