Australia Legal Cannabis Market cover

Australia Legal Cannabis Market by Product Types (Marijuana [Flower and Oil], and Hemp Oil) and Applications (Adult Use, Medical [Chronic Pain, Anxiety, Inflammation, Sleep Disorder, and Others], and B2B Channels) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2021 – 2028

  • Report ID: HC-1799
  • Author: Growth Market Reports
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The Australia legal cannabis market size was valued at USD 172 million in 2019 and is anticipated to expand at a CAGR of 42% during the forecast period, 2021–2028. The growth of the market is attributed to the rising adoption of legal cannabis in the country and growing legalization of marijuana for adult use.

In Asia Pacific, Australia is a key supporter of cannabis legalization, as compare to other countries. In 2016, the country legalized medical marijuana at the federal level and in 2019, the Australia’s capital, Canberra, was the first city for legalize the cultivation and possession of marijuana for adult use. For most of Australia, on a federal level, the use of marijuana is illegal for use by adults. The Government of Australia passed cannabis laws that allow the Australian Capital Territory (ACT) to possess and cultivate marijuana for adult use.

Residents of Canberra are expected to cultivate two marijuana plants and possess up to 50 grams of marijuana. Other cities in Australia are legalizing medical marijuana for recreational purposes, which in turn, is likely to drive the market during the forecast period.


Australia Legal Cannabis Market summary

Prescription or medical cannabis has been legalized by the Government; however, it has an indulgent approach of its users. Hence, the number of patients looking for medical marijuana is growing significantly. Additionally, the number of players operating in the legal medical marijuana market is increasing and many of them are listed on the Australian Stock Exchange (ASX). These companies are applying for licenses of cultivations.

In Australia, the process of accessing medical hemp oil is costly and complicate, as no hemp or cannabidiol (CBD) products are approved by the Therapeutic Goods Administration (TGA). Therefore, patients are required to apply for the Government of Australia’s Special Access Scheme for the usage of CBD-based products. The government’s Special Access Scheme offers CBD-based products to eligible patients only. According to the Australian Institute of Health and Welfare, the use of marijuana is higher than the use of other drugs such as cocaine and ecstasy in the country. Moreover, getting marijuana in the country is easy, an thus the demand for marijuana is growing.

Market Trends, Drivers, Restraints, and Opportunities

  • Rapid growth cannabis for medical applications, R&D, and to manage pain is a major factor driving the market.
  • The number of global suppliers of cannabis is limited, which increases opportunities for local suppliers to cater to the scientific and medicinal domains, which in turn, propels the market.
  • Increasing legalization of cannabis and growing adoption of marijuana are anticipated to fuel the market.
  • Novel product delivery solutions and development of products through research are expected to boost the market.
  • Rising illegal trade of cannabis and complicated regulatory structure for the use of cannabis are factors that can impede the market during the forecast period.

Scope of the Report

The report on the global Australia legal cannabis market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Attributes

Details

Report Title

Australia Legal Cannabis Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast

Base Year

2020

Historic Data

2018–2019

Forecast Period

2021–2028

Segmentation

Product Types (Marijuana [Flower and Oil], and Hemp Oil), Applications (Adult Use, Medical [Chronic Pain, Anxiety, Inflammation, Sleep Disorder, and Others], and B2B Channels)

Regional Scope

Australia

Report Coverage

Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast

Key Players Covered in the Report

AusCann Group Holdings Pty Ltd., Cann Group Ltd., Bod Australia, Zelira Therapeutics, Althea Group Holdings Limited, THC Global Group Limited, MGC Pharmaceuticals Ltd., and Ecofibre Limited

Market Segment Insights

Marijuana segment to hold a key market share

In terms of product types, the Australia legal cannabis market is segmented into marijuana and hemp oil. The marijuana segment dominated the market and is expected to hold a key share of the market during the forecast period due to the presence of a large number of consumers in Australia. Furthermore, higher and easier accessibility of marijuana than other products is anticipated to propel the market. The marijuana segment is divided into flower and oil. Flowers are the main product and that are widely used for producing other products by manufacturers. On the other hand, the oil sub-segment is anticipated to expand at a rapid pace during the forecast period.


Australia Legal Cannabis Market types

Smoking marijuana causes health problems such as respiratory diseases, production of phlegm, and chronic cough. Rising awareness regarding these negative effects among people is fueling the adoption of cannabis oil. Moreover, the oil is travel friendly, easy to use, as can be used added to food, and the oil does not have side effects. This, in turn, drives the sub-segment.

Medical segment is expected to expand at a significant pace

Based on applications, the market is segregated into adult use, medical, and B2B channels. The medical segment dominated the market and is expected to account for a key share during the forecast period owing to increasing awareness about medical cannabis products. Moreover, the ongoing support of the Government of Australia about the use of medical cannabis is fuelling segment. For instance, the State and Territory Governments and the Commonwealth Government in Australia passed laws enabling  easy access to cannabis products.


Australia Legal Cannabis Market application

The medical segment is divided into chronic pain, anxiety, inflammation, sleep disorder, and others. The chronic pain sub-segment dominated the market owing to growing demand for plant-based therapeutics and ill-effects caused by opioid intake. Fast paced lifestyle is rapidly causing ailments such as obesity, which is further causing chronic pain, inflammation, anxiety, and sleep disorders.

The B2B channels segment is anticipated to expand at a significant pace during the forecast period. The B2B channel includes various market players buying marijuana from cultivators to produce finished products including nutraceuticals, cosmetics, pharmaceuticals, and personal care. Growing number of partnerships between cultivators and pharmaceutical companies for R&D of product is a key factor boosting the market

Segments

Segments Covered in the Report

The Australia legal cannabis market has been segmented on the basis of

Product Types

  • Marijuana
    • Flower
    • Oil
  • Hemp Oil

Applications

  • Adult Use
  • Medical
    • Chronic Pain
    • Anxiety
    • Inflammation
    • Sleep Disorder
    • Others
  • B2B Channels 

Key Players

  • AusCann Group Holdings Pty Ltd
  • Cann Group Ltd
  • Bod Australia
  • Zelira Therapeutics
  • Althea Group Holdings Limited
  • THC Global Group Limited
  • MGC Pharmaceuticals Ltd
  • Ecofibre Limited

Competitive Landscape

Key players competing in the Australia legal cannabis market include AusCann Group Holdings Pty Ltd., Cann Group Ltd., Bod Australia, Zelira Therapeutics, Althea Group Holdings Limited, THC Global Group Limited, MGC Pharmaceuticals Ltd., and Ecofibre Limited. Major market players are implementing business strategies including mergers, acquisitions, collaborations, capacity expansion, and product launches to enhance their market shares.

For instance, in January 2020, Althea Company Pty Ltd developed an application and a web-based platform, Concierge, to educate patients and healthcare professionals about advantages of cannabis.

Several local and international players operate in the Australia legal cannabis market. Local players are focused on increasing their exports, geographic presence, and consumer base. Furthermore, these players are engaging in partnerships with pharmaceutical companies and generating awareness about the medical benefits of cannabis among people.

Australia Legal Cannabis Market keyplayers

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Legal Cannabis Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Legal Cannabis Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Legal Cannabis Market - Supply Chain
  4.5. Global Legal Cannabis Market Forecast
     4.5.1. Legal Cannabis Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Legal Cannabis Market Size (000’ Units) and Y-o-Y Growth
     4.5.3. Legal Cannabis Market Absolute $ Opportunity
5. Global Legal Cannabis Market Analysis and Forecast by Region
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Region
     5.2.2. Y-o-Y Growth Projections by Region
  5.3. Legal Cannabis Market Size and Volume Forecast by Region
     5.3.1. North America
     5.3.2. Latin America
     5.3.3. Europe
     5.3.4. Asia Pacific
     5.3.5. Middle East and Africa (MEA)
  5.4. Absolute $ Opportunity Assessment by Region
  5.5. Market Attractiveness/Growth Potential Analysis by Region
  5.6. Global Legal Cannabis Demand Share Forecast, 2019-2026
6. North America Legal Cannabis Market Analysis and Forecast
  6.1. Introduction
     6.1.1. Basis Point Share (BPS) Analysis by Country
     6.1.2. Y-o-Y Growth Projections by Country
  6.2. North America Legal Cannabis Market Size and Volume Forecast by Country
     6.2.1. U.S.
     6.2.2. Canada
  6.3. Absolute $ Opportunity Assessment by Country
  6.4. Market Attractiveness/Growth Potential Analysis
     6.4.1. By Country
     6.4.2. By Product Type
     6.4.3. By Application
  6.5. North America Legal Cannabis Demand Share Forecast, 2019-2026
7. Latin America Legal Cannabis Market Analysis and Forecast
  7.1. Introduction
     7.1.1. Basis Point Share (BPS) Analysis by Country
     7.1.2. Y-o-Y Growth Projections by Country
     7.1.3. Latin America Average Pricing Analysis
  7.2. Latin America Legal Cannabis Market Size and Volume Forecast by Country
      7.2.1. Brazil
      7.2.2. Mexico
      7.2.3. Rest of Latin America
   7.3. Absolute $ Opportunity Assessment by Country
  7.4. Market Attractiveness/Growth Potential Analysis
     7.4.1. By Country
     7.4.2. By Product Type
     7.4.3. By Application
  7.5. Latin America Legal Cannabis Demand Share Forecast, 2019-2026
8. Europe Legal Cannabis Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
     8.1.3. Europe Average Pricing Analysis
  8.2. Europe Legal Cannabis Market Size and Volume Forecast by Country
     8.2.1. Germany
     8.2.2. France
     8.2.3. Italy
     8.2.4. U.K.
     8.2.5. Spain
     8.2.6. Russia
     8.2.7. Rest of Europe
  8.3. Absolute $ Opportunity Assessment by Country
  8.4. Market Attractiveness/Growth Potential Analysis
     8.4.1. By Country
     8.4.2. By Product Type
     8.4.3. By Application
  8.5. Europe Legal Cannabis Demand Share Forecast, 2019-2026
9. Asia Pacific Legal Cannabis Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Asia Pacific Average Pricing Analysis
  9.2. Asia Pacific Legal Cannabis Market Size and Volume Forecast by Country
     9.2.1. China
     9.2.2. Japan
     9.2.3. South Korea
     9.2.4. India
     9.2.5. Australia
     9.2.6. Rest of Asia Pacific (APAC)
  9.3. Absolute $ Opportunity Assessment by Country
  9.4. Market Attractiveness/Growth Potential Analysis
     9.4.1. By Country
     9.4.2. By Product Type
     9.4.3. By Application
  9.5. Asia Pacific Legal Cannabis Demand Share Forecast, 2019-2026
10. Middle East & Africa Legal Cannabis Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Middle East & Africa Average Pricing Analysis
  10.2. Middle East & Africa Legal Cannabis Market Size and Volume Forecast by Country
     10.2.1. Saudi Arabia
     10.2.2. South Africa
     10.2.3. UAE
     10.2.4. Rest of Middle East & Africa (MEA)
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Market Attractiveness/Growth Potential Analysis
     10.4.1. By Country
     10.4.2. By Product Type
     10.4.3. By Application
  10.5. Middle East & Africa Legal Cannabis Demand Share Forecast, 2019-2026
11. Competition Landscape
  11.1. Global Legal Cannabis Market: Market Share Analysis
  11.2. Legal Cannabis Distributors and Customers
  11.3. Legal Cannabis Market: Competitive Dashboard
  11.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     11.4.1. AusCann Group Holdings Pty Ltd
     11.4.2. Cann Group Ltd
     11.4.3. Bod Australia
     11.4.4. Zelira Therapeutics
     11.4.5. Althea Group Holdings Limited

Segments Covered in the Report

The Australia legal cannabis market has been segmented on the basis of

Product Types

  • Marijuana
    • Flower
    • Oil
  • Hemp Oil

Applications

  • Adult Use
  • Medical
    • Chronic Pain
    • Anxiety
    • Inflammation
    • Sleep Disorder
    • Others
  • B2B Channels 

Key Players

  • AusCann Group Holdings Pty Ltd
  • Cann Group Ltd
  • Bod Australia
  • Zelira Therapeutics
  • Althea Group Holdings Limited
  • THC Global Group Limited
  • MGC Pharmaceuticals Ltd
  • Ecofibre Limited

Key players competing in the Australia legal cannabis market include AusCann Group Holdings Pty Ltd., Cann Group Ltd., Bod Australia, Zelira Therapeutics, Althea Group Holdings Limited, THC Global Group Limited, MGC Pharmaceuticals Ltd., and Ecofibre Limited. Major market players are implementing business strategies including mergers, acquisitions, collaborations, capacity expansion, and product launches to enhance their market shares.

For instance, in January 2020, Althea Company Pty Ltd developed an application and a web-based platform, Concierge, to educate patients and healthcare professionals about advantages of cannabis.

Several local and international players operate in the Australia legal cannabis market. Local players are focused on increasing their exports, geographic presence, and consumer base. Furthermore, these players are engaging in partnerships with pharmaceutical companies and generating awareness about the medical benefits of cannabis among people.

Australia Legal Cannabis Market keyplayers

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