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Australia Legal Cannabis Market

Market Insights on Australia Legal Cannabis covering sales outlook, demand forecast & up-to-date key trends

Australia Legal Cannabis Market by Source, Derivates, End-Use & Region - Forecast 2022 – 2032

Australia Legal Cannabis Market Outlook (2022-2032)

[333 Pages Report] The Australia legal cannabis market is expected to reach a market valuation of US$ 67.39 Million by the year 2022, accelerating with a moderate CAGR of 30.1% by 2022-2032. Australia Legal Cannabis market size is anticipated to be valued at about US$ 936.22 Million by 2032 end.

In Australia, support for legalizing marijuana is growing. The main factor fueling this momentum is the growing understanding that the product may have a variety of valid medicinal benefits and therapeutic applications. According to the United Nations Office on Drugs and Crime, it is the narcotic that is grown, trafficked, and consumed the most throughout the world (UNODC). This is changing the Australia legal cannabis market outlook.

The Australian legal cannabis market's medicinal application sector is anticipated to grow at the quickest rate during the forecast period. It's because people are becoming more aware of the positive effects that cannabis products can have on their health and because the Australian government supports its usage for medical purposes.

As per the Australia legal cannabis market study, regulations allowing for convenient access to medicinal cannabis products have been authorized by the Australian federal government, as well as state and territory governments. Among the sub-applications in the medical application were inflammation, anxiety, chronic pain, sleep issues, and pain.

The COVID-19 pandemic severely disrupted all trade, including the import and export of products. Although sales of Australia legal cannabis, in a country that produces the drug, saw a sharp increase in recreational use, those sales have since recovered as trade restrictions have been relaxed. The Australia legal cannabis industry is anticipated to expand significantly if cannabis products are made available for OTC sales through a variety of distribution channels.

Attributes

Value

Australia Legal Cannabis Market Size (2022)

US$ 67.39 Million

Australia Legal Cannabis Market Projected Size (2032)

US$ 936.22 Million

Australia Legal Cannabis Market Value CAGR (2022-2032)

30.1%

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What are the Major Driving Factors for the Australia Legal Cannabis Market?

Retailers and Sativa consumer goods companies are quickly changing to satisfy the demands of "mainstream" marijuana consumers. Consumers now have a wider range of goods to choose from, such as topicals, concentrates, and infused products, rather than being restricted to smoking flowers with joints, pipes, or bongs.

The Australia legal cannabis market continues to see a strong demand for beverages, candies, and chocolates made from hemp. Such edibles take one to two hours to start producing a euphoric "high," but the impact lasts longer than when smoke or vapor is inhaled. However, product innovation and packaging-related modification are anticipated to develop at the highest rate over the projection period and are expected to play a crucial role in raising the sales of Australia legal cannabis.

What are the Existing Challenges for the Australia Legal Cannabis Market Future Trends?

The laws governing the use of marijuana and hemp for medical purposes are strictly regulated in Australia and are continuously changing, thereby impacting the Australia legal cannabis market outlook. According to the Australian Institute of Health and Welfare, legalization was supported by 41.0% of the population as of July 2020.

The nation's capital Canberra became the first city to legalize recreational marijuana use and personal marijuana cultivation in September 2019. Possession of recreational marijuana is still prohibited nationwide on a federal basis, though. The government passed new cannabis laws, enabling the Australian Capital Territory (ACT) to buy and grow marijuana for recreational purposes.

Nandini Roy Choudhury
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Comparative View of Adjacent Australia Legal Cannabis Market

Australia Legal Cannabis Market:

Attributes

Australia Legal Cannabis Market

CAGR (2022 to 2032)

30.1%

Market Value (2022)

US$ 67.39 Million

Growth Factor

The market is expanding overall because to the increased production of medical marijuana brought on by rising pharmaceutical industry demand.

Future Opportunities

The public's growing understanding of the advantages of cannabis consumption for health is fueling the market's expansion.

Market Trends

Cannabis is being used more and more in non-textile applications to cut down on deforestation, pollution, and landfill waste.

Cannabis Testing Market:

Attributes

Cannabis Testing Market

CAGR (2022 to 2032)

13.4%

Market Value (2022)

US$ 962 Million

Growth Factor

Legalizing cannabis for medical purposes and expanding the number of cannabis testing facilities is driving the market.

Future Opportunities

The cannabis testing industry is anticipated to grow rapidly in emerging nations throughout LATAM (Latin America) and the MEA (the Middle East and Africa).

Market Trends

Major challenges that are anticipated to impede market expansion include a lack of standardization in rules and regulations, excessive expenses, and insufficient staff.

Drug Screening Market:

Attributes

Drug Screening Market

CAGR (2022 to 2032)

16.8%

Market Value (2022)

US$ 5.3 Billion

Growth Factor

Due to rising drug and alcohol use, strict legislation requiring drug and alcohol testing, and an increase in regulatory approvals for drug screening goods and services, this market is expected to rise.

Future Opportunities

The development of drug screening goods & services for use on the road will continue to grow, contributing to the growth of the industry as a whole.

Market Trends

The expansion of this market may be limited to some extent by restrictions on employment drug testing and alcohol usage in Islamic nations.

Growing patient populations, expanding government backing, increasing cannabis legalisation, and the presence of both domestic and international players in the country are all factors in the Australia legal cannabis market development. In addition, as pharmaceutical industry demand rises, more medicinal marijuana is being produced, which is encouraging Australia legal cannabis market growth.

During the anticipated period, the recreational application category of the Australia legal cannabis market is anticipated to develop at the quickest rate. The main drivers of the expansion of this market sector are the rising public awareness of cannabis and the rising legality of its recreational use and cultivation. Additionally, the category is expanding due to the increasing use of cannabis for its health benefits and the supportive attitude of the Australian government.

Category-wise Insights for Australia Legal Cannabis Market

Which Type of Australia Legal Cannabis Derivatives are Most Preferred in the Global Market?

CBD has the greatest Australia legal cannabis market share (66.5%) of the legal cannabis market. Although low-dose CBD products have been made permissible by the Therapeutic Goods Administration (TGA), the Australian Register of Therapeutic Goods has not yet given these items its seal of approval (ARTG). CBD has been approved to treat a number of ailments, including arthritic pain, epileptic seizures, and chemotherapy-induced nausea. Only one regulatory-grade medicine, Epidyolex, used to treat severe childhood epilepsy, is permitted for usage in Australia.

Which Segment of the Australia Legal Cannabis Market on the Basis of End Use is Performing Better?

With an 81 percent revenue share in 2021, the industrial application segment dominated the Australia legal cannabis market. Hemp fibers and oil are becoming more and more popular, which is assisting the category's expansion in the textile, food and beverage, automotive, personal care, and textile industries. The need for coatings, varnishes, oil paints, petrol, printing inks, solvents, putty, and chainsaw lubricants is expected to rise. Cannabis is increasingly being utilized for non-textile purposes to lessen deforestation, pollution, and landfill waste.

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Competitive Landscape for the Australia Legal Cannabis Market

The Australia legal cannabis market is heavily dominated by numerous local and foreign businesses. Local companies are focusing their efforts on expanding their clientele, domestic exports, and geographic reach. On the other hand, international players are funding regional companies to strengthen their position themselves in the Australia legal cannabis market share.

Cann Group Limited recently revealed that the sale of Harvest One Cannabis Inc.'s Satipharm division had been completed as of March 10, 2021.

Startup Ecosystem in the Global Australia Legal Cannabis Market

The newly joint-listed medical cannabis and psychedelic clinical development business Incannex Healthcare (ASX: IHL) has climbed to the top spot on the list of 2022 Australia's Top Cannabis Companies after its share price achieved an all-time high in early 2022.

The acquisition of APIRx results in a diverse portfolio of promising therapeutic candidates aimed at treating a wide range of conditions, including pain, dementia, Parkinson's Disease, restless leg syndrome, gastrointestinal diseases, periodontitis, addiction disorders, skin conditions, and ophthalmic conditions. There are 22 active clinical and preclinical research and development projects, and there are another 23 pending.

The leadership of Incannex has great expectations for the cannabinoid-based chewing gum brand CanQuit, which has the potential to upend the over $5 billion ($7 billion) per year nicotine chewing gum business. Its sibling product, CanQuitO, fights opioid addiction in a comparable but original manner.

Australia Legal Cannabis Market Key Players

Australia Legal Cannabis Market by Segmentation

By Source :

  • Marijuana
    • Flower
    • Oil & Tinctures
  • Hemp
    • Hemp CBD
    • Supplements
    • Industrial Hemp

By Derivates:

  • CBD
  • THC
  • Others

By End-Use

  • 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

By Region:

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia
  • Oceania
  • Middle East and Africa

Frequently Asked Questions

The Australia Legal Cannabis market is expected to grow at 30.1% CAGR over 2022-2032.

The Australia Legal Cannabis market is estimated to be around US$ 67.39 Million in 2022.

The Australia Legal Cannabis market is anticipated to reach a valuation of US$ 936.22 Million by 2032.

With an 81 percent revenue share in 2021, the industrial application segment dominated the Australia legal cannabis market.

Table of Content

1. Executive Summary

    1.1. Australia Market Outlook

    1.2. Demand-side Trends

    1.3. Supply-side Trends

    1.4. Technology Roadmap Analysis

    1.5. Analysis and Recommendations

2. Market Overview

    2.1. Market Coverage / Taxonomy

    2.2. Market Definition / Scope / Limitations

3. Market Background

    3.1. Market Dynamics

        3.1.1. Drivers

        3.1.2. Restraints

        3.1.3. Opportunity

        3.1.4. Trends

    3.2. Scenario Forecast

        3.2.1. Demand in Optimistic Scenario

        3.2.2. Demand in Likely Scenario

        3.2.3. Demand in Conservative Scenario

    3.3. Opportunity Map Analysis

    3.4. Investment Feasibility Matrix

    3.5. PESTLE and Porter’s Analysis

    3.6. Regulatory Landscape

4. Australia Legal Cannabis Market Analysis 2017-2021 and Forecast, 2022-2032

    4.1. Historical Market Size Value (US$ Mn) Analysis, 2017-2021

    4.2. Current and Future Market Size Value (US$ Mn) Projections, 2022-2032

        4.2.1. Y-o-Y Growth Trend Analysis

        4.2.2. Absolute $ Opportunity Analysis

5. Australia Legal Cannabis Market Analysis 2017-2021 and Forecast 2022-2032, By Source Type

    5.1. Introduction / Key Findings

    5.2. Historical Market Size Value (US$ Mn) Analysis By Source Type, 2017-2021

    5.3. Current and Future Market Size Value (US$ Mn) Analysis and Forecast By Source Type, 2022-2032

        5.3.1. Marijuana

            5.3.1.1. Flowers

            5.3.1.2. Oil and Tinctures

        5.3.2. Hemp

            5.3.2.1. Hemp CBD

            5.3.2.2. Supplements

            5.3.2.3. Industrial Hemp

    5.4. Y-o-Y Growth Trend Analysis By Source Type, 2017-2021

    5.5. Absolute $ Opportunity Analysis By Source Type, 2022-2032

6. Australia Legal Cannabis Market Analysis 2017-2021 and Forecast 2022-2032, By Derivatives

    6.1. Introduction / Key Findings

    6.2. Historical Market Size Value (US$ Mn) Analysis By Derivatives, 2017-2021

    6.3. Current and Future Market Size Value (US$ Mn) Analysis and Forecast By Derivatives, 2022-2032

        6.3.1. CBD

        6.3.2. THC

        6.3.3. Others

    6.4. Y-o-Y Growth Trend Analysis By Derivatives, 2017-2021

    6.5. Absolute $ Opportunity Analysis By Derivatives, 2022-2032

7. Australia Legal Cannabis Market Analysis 2017-2021 and Forecast 2022-2032, By End-use

    7.1. Introduction / Key Findings

    7.2. Historical Market Size Value (US$ Mn) Analysis By End-use, 2017-2021

    7.3. Current and Future Market Size Value (US$ Mn) Analysis and Forecast By End-use, 2022-2032

        7.3.1. Medical Use

            7.3.1.1. Chronic Pain

            7.3.1.2. Anxiety and Depression

            7.3.1.3. Cancer

            7.3.1.4. Arthritis

            7.3.1.5. Diabetes

            7.3.1.6. Glaucoma

            7.3.1.7. Migraines

            7.3.1.8. Epilepsy

            7.3.1.9. Multiple Sclerosis

            7.3.1.10. AIDS

            7.3.1.11. Amyotrophic Lateral Sclerosis

            7.3.1.12. Alzheimer’s

            7.3.1.13. Post-Traumatic Stress Disorder

            7.3.1.14. Parkinson’s

            7.3.1.15. Tourette’s

            7.3.1.16. Other Medical Uses

        7.3.2. Recreational Use

        7.3.3. Industrial Use

    7.4. Y-o-Y Growth Trend Analysis By End-use, 2017-2021

    7.5. Absolute $ Opportunity Analysis By End-use, 2022-2032

8. Key Countries Legal Cannabis Market Analysis

    8.1. Australia

        8.1.1. Pricing Analysis

        8.1.2. Market Share Analysis, 2021

            8.1.2.1. By Source Type

            8.1.2.2. By Derivatives

            8.1.2.3. By End-use

9. Market Structure Analysis

    9.1. Competition Dashboard

    9.2. Competition Benchmarking

    9.3. Market Share Analysis of Top Players

        9.3.1. By Country

        9.3.2. By Source Type

        9.3.3. By Derivatives

        9.3.4. By End-use

10. Competition Analysis

    10.1. Competition Deep Dive

        10.1.1. AusCann Group Holdings Ltd

            10.1.1.1. Overview

            10.1.1.2. Product Portfolio

            10.1.1.3. Profitability by Market Segments

            10.1.1.4. Sales Footprint

            10.1.1.5. Strategy Overview

                10.1.1.5.1. Marketing Strategy

        10.1.2. Cann Group Limited

            10.1.2.1. Overview

            10.1.2.2. Product Portfolio

            10.1.2.3. Profitability by Market Segments

            10.1.2.4. Sales Footprint

            10.1.2.5. Strategy Overview

                10.1.2.5.1. Marketing Strategy

        10.1.3. Bod Australia

            10.1.3.1. Overview

            10.1.3.2. Product Portfolio

            10.1.3.3. Profitability by Market Segments

            10.1.3.4. Sales Footprint

            10.1.3.5. Strategy Overview

                10.1.3.5.1. Marketing Strategy

        10.1.4. Zelira Therapeutics

            10.1.4.1. Overview

            10.1.4.2. Product Portfolio

            10.1.4.3. Profitability by Market Segments

            10.1.4.4. Sales Footprint

            10.1.4.5. Strategy Overview

                10.1.4.5.1. Marketing Strategy

        10.1.5. Althea Group

            10.1.5.1. Overview

            10.1.5.2. Product Portfolio

            10.1.5.3. Profitability by Market Segments

            10.1.5.4. Sales Footprint

            10.1.5.5. Strategy Overview

                10.1.5.5.1. Marketing Strategy

        10.1.6. EPSILON

            10.1.6.1. Overview

            10.1.6.2. Product Portfolio

            10.1.6.3. Profitability by Market Segments

            10.1.6.4. Sales Footprint

            10.1.6.5. Strategy Overview

                10.1.6.5.1. Marketing Strategy

        10.1.7. MCG Pharma

            10.1.7.1. Overview

            10.1.7.2. Product Portfolio

            10.1.7.3. Profitability by Market Segments

            10.1.7.4. Sales Footprint

            10.1.7.5. Strategy Overview

                10.1.7.5.1. Marketing Strategy

        10.1.8. ECOFIBRE

            10.1.8.1. Overview

            10.1.8.2. Product Portfolio

            10.1.8.3. Profitability by Market Segments

            10.1.8.4. Sales Footprint

            10.1.8.5. Strategy Overview

                10.1.8.5.1. Marketing Strategy

        10.1.9. Cronos Australia

            10.1.9.1. Overview

            10.1.9.2. Product Portfolio

            10.1.9.3. Profitability by Market Segments

            10.1.9.4. Sales Footprint

            10.1.9.5. Strategy Overview

                10.1.9.5.1. Marketing Strategy

        10.1.10. Ecofibre

            10.1.10.1. Overview

            10.1.10.2. Product Portfolio

            10.1.10.3. Profitability by Market Segments

            10.1.10.4. Sales Footprint

            10.1.10.5. Strategy Overview

                10.1.10.5.1. Marketing Strategy

        10.1.11. Little Green Pharma

            10.1.11.1. Overview

            10.1.11.2. Product Portfolio

            10.1.11.3. Profitability by Market Segments

            10.1.11.4. Sales Footprint

            10.1.11.5. Strategy Overview

                10.1.11.5.1. Marketing Strategy

        10.1.12. Emyria

            10.1.12.1. Overview

            10.1.12.2. Product Portfolio

            10.1.12.3. Profitability by Market Segments

            10.1.12.4. Sales Footprint

            10.1.12.5. Strategy Overview

                10.1.12.5.1. Marketing Strategy

11. Assumptions & Acronyms Used

12. Research Methodology

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List of Tables

Table 1: Australia Legal Cannabis Market Value (US$ Mn) Forecast by Country, 2017-2032

Table 2: Australia Legal Cannabis Market Value (US$ Mn) Forecast by Source Type, 2017-2032

Table 3: Australia Legal Cannabis Market Value (US$ Mn) Forecast by Derivatives, 2017-2032

Table 4: Australia Legal Cannabis Market Value (US$ Mn) Forecast by End-use, 2017-2032

Nandini Roy Choudhury
Principal Consultant
LinkedIn
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List of Charts

Figure 1: Australia Legal Cannabis Market Value (US$ Mn) by Source Type, 2022-2032

Figure 2: Australia Legal Cannabis Market Value (US$ Mn) by Derivatives, 2022-2032

Figure 3: Australia Legal Cannabis Market Value (US$ Mn) by End-use, 2022-2032

Figure 4: Australia Legal Cannabis Market Value (US$ Mn) by Country, 2022-2032

Figure 5: Australia Legal Cannabis Market Value (US$ Mn) Analysis by Country, 2017-2032

Figure 6: Australia Legal Cannabis Market Value Share (%) and BPS Analysis by Country, 2022-2032

Figure 7: Australia Legal Cannabis Market Y-o-Y Growth (%) Projections by Country, 2022-2032

Figure 8: Australia Legal Cannabis Market Value (US$ Mn) Analysis by Source Type, 2017-2032

Figure 9: Australia Legal Cannabis Market Value Share (%) and BPS Analysis by Source Type, 2022-2032

Figure 10: Australia Legal Cannabis Market Y-o-Y Growth (%) Projections by Source Type, 2022-2032

Figure 11: Australia Legal Cannabis Market Value (US$ Mn) Analysis by Derivatives, 2017-2032

Figure 12: Australia Legal Cannabis Market Value Share (%) and BPS Analysis by Derivatives, 2022-2032

Figure 13: Australia Legal Cannabis Market Y-o-Y Growth (%) Projections by Derivatives, 2022-2032

Figure 14: Australia Legal Cannabis Market Value (US$ Mn) Analysis by End-use, 2017-2032

Figure 15: Australia Legal Cannabis Market Value Share (%) and BPS Analysis by End-use, 2022-2032

Figure 16: Australia Legal Cannabis Market Y-o-Y Growth (%) Projections by End-use, 2022-2032

Figure 17: Australia Legal Cannabis Market Attractiveness by Source Type, 2022-2032

Figure 18: Australia Legal Cannabis Market Attractiveness by Derivatives, 2022-2032

Figure 19: Australia Legal Cannabis Market Attractiveness by End-use, 2022-2032

Figure 20: Australia Legal Cannabis Market Attractiveness by Country, 2022-2032

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Published : March 2019

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Australia Legal Cannabis Market