Australia Legal Cannabis Market Size, Share & Trends Analysis Report By Source (Marijuana, Hemp), By Derivative (CBD, THC), By End-use (Medical Use, Recreational Use, Industrial Use), And Segment Forecasts, 2023 - 2030

Market Segmentation

• Australia Legal Cannabis Source Type Outlook (Revenue, USD Million, 2016 - 2030)
  • Marijuana
    • Flowers
    • Oil and Tinctures
  • Hemp
    • Hemp CBD
    • Supplements
    • Industrial Hemp
• Australia Legal Cannabis Derivatives Outlook (Revenue, USD Million, 2016 - 2030)
  • CBD
  • THC
  • Others
• Australia Legal Cannabis End-use Outlook (Revenue, USD Million, 2016 - 2030)
  • Medical Use
    • Chronic Pain
    • Anxiety and Depression
    • Cancer
    • Arthritis
    • Diabetes
    • Glaucoma
    • Migraines
    • Epilepsy
    • Multiple Sclerosis
    • AIDS
    • Amyotrophic Lateral Sclerosis
    • Alzheimer’s
    • Post-Traumatic Stress Disorder (PTSD)
    • Parkinson’s
    • Tourette’s
    • Others
  • Recreational Use
  • Industrial Use

Australia Legal Cannabis Market Dynamics

Drivers: Rising Patient Population

In recent years, there has been a significant increase in the number of people in Australia using cannabis for medical purposes. This trend can be attributed to favorable government reforms, growing awareness about cannabis, and an increasing number of research studies that demonstrate the positive effects of cannabis for the treatment of specific health conditions. For instance, according to a study published in Harm Reduction Journal in 2020, the main areas wherein cannabis for medical purposes is used in Australia include chronic pain (36.4%), mental health (32.8%), sleep (9.2%), cancer (3.8%), and neurology (5.2%). A growing number of Australian physicians are prescribing medical cannabis, which is resulting in an increasing number of patients choosing to use it. For instance, as per TGA, there has been an increase in the number of prescriptions by around 200% in about 6 months in 2019. Thus, a growing patient population is expected to boost the market.

Growing Legalization Of Cannabis-Based CBD Products

Cannabidiol is a chemical compound extracted from the cannabis sativa plant, which includes both hemp and marijuana. However, these sources were previously known to have high levels of THC, which is harmful to the human body. As a result, the cultivation and distribution of cannabidiol have been regulated by the government due to its potential adverse effects on consumption. Recently, the use of cannabidiol has been legalized for industrial applications such as pharmaceuticals, personal care & cosmetics, and food and beverages. Cannabidiol and CBD-based products, such as cannabis beauty & skincare products oil, gummies, capsules, beverages, and dog treats, are highly preferred and are expected to drive the adoption and demand for CBD in the market. CBD has the property to enter the body in various ways, such as ingesting and vaping through the skin and it is widely used in the manufacturing of medical drugs and personal care products in the country. The legalization of CBD and cannabis-based products has provided an excellent opportunity for various industries to expand.

Restraints: Stringent Regulations

In the last few years, cannabis has become immensely popular and is used to treat a wide range of lifestyle diseases and medical conditions such as inflammation, pain, epilepsy, anorexia, sleep disorders, schizophrenia, and symptoms of MS (multiple sclerosis). In addition, there is high demand for cannabidiol in cosmetic products, such as lotions, creams, and moisturizers, and food items & beverages. Despite the high demand and increasing availability of cannabidiol, there are several uncertainties pertaining to its safety, quality, and legality. This creates obstacles in the growth of cannabis market. Marijuana is one of the prominent forms of cannabis that contains CBD as well as THC in high amounts. Such high content of CBD makes it useful for various pharmaceutical formulations. Marijuana is mainly used for controlling vomiting & nausea, appetite stimulation, and pain relief. The availability of high THC products is relatively less, hence, proper marijuana legalization, at least for medical purposes, is likely to aid in market growth.

What Does This Report Include?

This section will provide insights into the contents included in this Australia legal cannabis market report and help gain clarity on the structure of the report to assist readers in navigating smoothly.

Australia legal cannabis market qualitative analysis

• Industry overview

• Industry trends

• Market drivers and restraints

• Market size

• Growth prospects

• Porter’s analysis

• PESTEL analysis

• Key market opportunities prioritized

• Competitive landscape

  • Company overview

  • Financial performance

  • Product benchmarking

  • Latest strategic developments

Australia legal cannabis market quantitative analysis

• Market size, estimates, and forecast from 2016 to 2030

• Market estimates and forecast for product segments up to 2030

• Regional market size and forecast for product segments up to 2030

• Market estimates and forecast for application segments up to 2030

• Regional market size and forecast for application segments up to 2030

• Company financial performance