Australia Legal Cannabis Market Size, Share & Trends Report

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

  • Report ID: GVR-4-68038-472-7
  • Number of Pages: 100
  • Format: Electronic (PDF)
  • Historical Range: 2016 - 2021
  • Industry: Healthcare

Research Methodology

A three-pronged approach was followed for deducing the Australia egal Cannabis market estimates and forecasts. The process has three steps: information procurement, analysis, and validation. The whole process is cyclical, and steps repeat until the estimates are validated. The three steps are explained in detail below:

Information procurement: Information procurement is one of the most extensive and important stages in our research process, and quality data is critical for accurate analysis. We followed a multi-channel data collection process for Australia egal Cannabis market to gather the most reliable and current information possible.

  • We buy access to paid databases such as Hoover’s and Factiva for company financials, industry information, white papers, industry journals, SME journals, and more.
  • We tap into Grand View’s proprietary database of data points and insights from active and archived monitoring and reporting.
  • We conduct primary research with industry experts through questionnaires and one-on-one phone interviews.
  • We pull from reliable secondary sources such as white papers and government statistics, published by organizations like WHO, NGOs, World Bank, etc., Key Opinion Leaders (KoL) publications, company filings, investor documents, and more.
  • We purchase and review investor analyst reports, broker reports, academic commentary, government quotes, and wealth management publications for insightful third-party perspectives.

Analysis: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilized different methods of Australia egal Cannabis market data depending on the type of information we’re trying to uncover in our research.

  • Market Research Efforts: Bottom-up Approach for estimating and forecasting demand size and opportunity, top-down Approach for new product forecasting and penetration, and combined approach of both Bottom-up and Top-down for full coverage analysis.

  • Value-Chain-Based Sizing & Forecasting: Supply-side estimates for understanding potential revenue through competitive benchmarking, forecasting, and penetration modeling.

  • Demand-side estimates for identifying parent and ancillary markets, segment modeling, and heuristic forecasting.

  • Qualitative Functional Deployment (QFD) Modelling for market share assessment.

Market formulation and validation: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilize different methods of data analysis depending on the type of information we’re trying to uncover in our research.

  • Market Formulation: This step involves the finalization of market numbers. This step on an internal level is designed to manage outputs from the Data Analysis step.

  • Data Normalization: The final market estimates and forecasts are then aligned and sent to industry experts, in-panel quality control managers for validation.

  • This step also entails the finalization of the report scope and data representation pattern.

  • Validation: The process entails multiple levels of validation. All these steps run in parallel, and the study is forwarded for publishing only if all three levels render validated results.

Australia Legal Cannabis Market Categorization:

The Australia egal Cannabis market was categorized into three segments, namely source type (Marijuana, Hemp), derivatives (CBD, THC), end-use (Medical Use, Recreational Use, Industrial Use), and region (Australia).

Segment Market Methodology:

The Australia egal Cannabis market was segmented into source type, derivatives, end-use. The demand at a segment level was deduced using a funnel method. Concepts like the TAM, SAM, SOM, etc., were put into practice to understand the demand. We at GVR deploy three methods to deduce market estimates and determine forecasts. These methods are explained below:

Market research approaches: Bottom-up

  • Demand estimation of each product across countries/regions summed up to from the total market.

  • Variable analysis for demand forecast.

  • Demand estimation via analyzing paid database, and company financials either via annual reports or paid database.

  • Primary interviews for data revalidation and insight collection.

Market research approaches: Top-down

  • Used extensively for new product forecasting or analyzing penetration levels.

  • Tool used invoice product flow and penetration models Use of regression multi-variant analysis for forecasting Involves extensive use of paid and public databases.

  • Primary interviews and vendor-based primary research for variable impact analysis.

Market research approaches: Combined

  • This is the most common method. We apply concepts from both the top-down and bottom-up approaches to arrive at a viable conclusion.

Regional Market Methodology:

The Australia egal Cannabis market was analyzed at a regional level. The region was divided into Australia, keeping in focus variables like consumption patterns, export-import regulations, consumer expectations, etc. These regions were further divided into twenty-five countries, namely, Australia.

All three above-mentioned market research methodologies were applied to arrive at regional-level conclusions. The regions were then summed up to form the global market.

Australia legal cannabis market companies & financials:

The Australia egal Cannabis market was analyzed via companies operating in the sector. Analyzing these companies and cross-referencing them to the demand equation helped us validate our assumptions and conclusions. Key market players analyzed include:

  • AUSCANN GROUP HOLDINGS LTD. - AusCann Group Holdings Ltd. is a leading producer and provider of Cannabinoid (CBD) pharmaceuticals in Australia. The company cultivates, develops, manufactures, and markets CB-based pharmaceuticals within Australia & globally. The company offers a variety of medical cannabis products for a wide range of applications, such as anticonvulsants, anti-inflammatory, neuroprotectants, anti-nausea, appetite stimulation, glaucoma, and pain management. The company is also a manufacturer of CBD-based hard-shell capsules. In addition, it develops CBDbased products for animals. The company constantly strives to create innovative products and has a pipeline of CBD-derived pharmaceutical products.

  • CANN GROUP LIMITED - Cann Group Limited is a leading producer and supplier of cannabis, cannabis resins, and medical cannabis products in Australia. It became the first company to receive a license from the Australian Government’s Office of Drug Control (ODC) to cultivate cannabis for research purposes. Furthermore, Cann Group received Australia’s first medical cannabis cultivation license that authorized them to produce cannabis for medical purposes.

  • BOD AUSTRALIA - Bod Australia develops, distributes, and markets health & wellness products. The company distributes its products through various channels, including pharmacies, online stores, retail outlets, and specialty health food stores. The company specializes in manufacturing and distributing health & beauty products from cannabis and hemp-based extracts. It has a wide range of products that target five lucrative segments: geriatric health, women’s health, daily wellbeing, digestive health, and immune system health.

  • ZELIRA THERAPEUTICS - Zelira Therapeutics, previously known as Zelda Therapeutics, is a global medical cannabis therapeutic company that offers branded cannabis products for a variety of medical conditions. The company has launched two formulations under the HOPE for autism brand in numerous U.S. states. The company has a variety of medical cannabis-based products that are under human and preclinical trials to examine the effect of CBDs on various medical conditions, including insomnia, autism, opioid reduction, & diabetes-associated cognitive disorders, as well as different types of cancers (such as breast, brain, & pancreatic cancer) in Australia, the U.S., and Spain.

  • ALTHEA COMPANY PTY LIMITED - Althea Company Pty Ltd. is a licensed manufacturer, supplier, and exporter of medical cannabis. The company offers fullspectrum, pharmaceutical-grade, and medicinal cannabis products. The company also provides education, access, & management services to healthcare professionals & patients. The company currently operates in highly regulated Australian & the UK markets and is planning to expand across Asia & Europe. All medical cannabis products offered by the company are grown and manufactured by a part owner—Aphria, Inc.

  • THC GLOBAL GROUP LTD. (EPSILON HEALTHCARE) - THC Global Group Ltd. is engaged in development and distribution of medical cannabis. The company has two Australiabased world class medical marijuana cultivation facilities in New South Wales (growing site) and Queensland (producing and R&D site) with the capacity of up to 600,000 plants per year and 850,000 strain clones per year, respectively. Furthermore, the company operates in a hydroponics business under its wholly owned subsidiary—CMP Wholesale Ltd. These subsidiary manufactures and distributes hydroponic equipment, materials, nutrients, & accessories in Canada, the UK, Europe, and the U.S. The company has strong partnerships with brands such as Endoca in Europe, BOL Pharma in Israel, Synapse & Pharma Programs in Australia, and foundation member of Medical Cannabis Industry Australia (MCIA).

  • MGC PHARMACEUTICALS LTD. - MGC Pharmaceuticals Ltd. is a European medical cannabis company that offers a wide range of phytocannabinoid-based medicines. The company has partnered & collaborated with various groups, including academia, global prominent universities, & companies to perform extensive research and develop highquality products. It offers its products in different evolving medical markets, such as Europe, North America, Israel, and Australia.

  • ECOFIBRE - ECOFIBRE is one of the global leaders in hemp technologies. The company is a producer and provider of hemp-based CBD products. They offer a wide range of products, including topical creams & salves, human & animal dietary supplement products, and hemp food products such as protein powders, hemp seed oil, & dehulled hemp seeds. It owns four significant businesses—Ananda Hemp, Ananda Food, Hemp Black, and Ananda Professional. The company has a presence in the U.S. and Australian markets.

Value chain-based sizing & forecasting

Supply Side Estimates

  • Company revenue estimation via referring to annual reports, investor presentations, and Hoover’s.

  • Segment revenue determination via variable analysis and penetration modeling.

  • Competitive benchmarking to identify market leaders and their collective revenue shares.

  • Forecasting via analyzing commercialization rates, pipelines, market initiatives, distribution networks, etc.

Demand side estimates

  • Identifying parent markets and ancillary markets

  • Segment penetration analysis to obtain pertinent

  • revenue/volume

  • Heuristic forecasting with the help of subject matter experts

  • Forecasting via variable analysis

Australia Legal Cannabis Market Report Objectives:

  • Understanding market dynamics (in terms of drivers, restraints, & opportunities) in the countries.

  • Understanding trends & variables in the individual countries & their impact on growth and using analytical tools to provide high-level insights into the market dynamics and the associated growth pattern.

  • Understanding market estimates and forecasts (with the base year as 2022, historic information from 2016 to 2021, and forecast from 2023 to 2030). Regional estimates & forecasts for each category are available and are summed up to form the global market estimates.

Australia Legal Cannabis Market Report Assumptions:

  • The report provides market value for the base year 2022 and a yearly forecast till 2030 in terms of revenue/volume or both. The market for each of the segment outlooks has been provided on region & country basis for the above-mentioned forecast period.

  • The key industry dynamics, major technological trends, and application markets are evaluated to understand their impact on the demand for the forecast period. The growth rates were estimated using correlation, regression, and time-series analysis.

  • We have used the bottom-up approach for market sizing, analyzing key regional markets, dynamics, & trends for various products and end-users. The total market has been estimated by integrating the country markets.

  • All market estimates and forecasts have been validated through primary interviews with the key industry participants.

  • Inflation has not been accounted for to estimate and forecast the market.

  • Numbers may not add up due to rounding off.

  • Europe consists of EU-8, Central & Eastern Europe, along with the Commonwealth of Independent States (CIS).

  • Asia Pacific includes South Asia, East Asia, Southeast Asia, and Oceania (Australia & New Zealand).

  • Latin America includes Central American countries and the South American continent

  • Middle East includes Western Asia (as assigned by the UN Statistics Division) and the African continent.

Primary Research

GVR strives to procure the latest and unique information for reports directly from industry experts, which gives it a competitive edge. Quality is of utmost importance to us, therefore every year we focus on increasing our experts’ panel. Primary interviews are one of the critical steps in identifying recent market trends and scenarios. This process enables us to justify and validate our market estimates and forecasts to our clients. With more than 8,000 reports in our database, we have connected with some key opinion leaders across various domains, including healthcare, technology, consumer goods, and the chemical sector. Our process starts with identifying the right platform for a particular type of report, i.e., emails, LinkedIn, seminars, or telephonic conversation, as every report is unique and requires a differentiated approach.

We send out questionnaires to different experts from various regions/ countries, which is dependent on the following factors:

  • Report/Market scope: If the market study is global, we send questionnaires to industry experts across various regions, including North America, Europe, Asia Pacific, Latin America, and MEA.

  • Market Penetration: If the market is driven by technological advancements, population density, disease prevalence, or other factors, we identify experts and send out questionnaires based on region or country dominance.

The time to start receiving responses from industry experts varies based on how niche or well-penetrated the market is. Our reports include a detailed chapter on the KoL opinion section, which helps our clients understand the perspective of experts already in the market space.

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