Summary of the Australia Legal Cannabis Market Report:
The aim of MMR’s “Australia Legal Cannabis Market” report is to assist clients in making informed business decisions. This involves identifying areas that require improvement, recognizing already successful sectors, and aiding newcomers in navigating and establishing a competitive presence. Additionally, the report sheds light on the existing challenges within the Australia Legal Cannabis market, thereby increasing market players’ awareness of potential hurdles.
Market Projection:
Australia Legal Cannabis Market size was valued at US$ 51.8 Mn in 2020 and the total revenue is expected to grow at 32.7% through 2021 to 2027, reaching nearly US$ 375.7 Mn.
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Classification of the Australia Legal Cannabis Market:
The Australian legal cannabis market is expected to increase with the help of the hemp segment.
With 84.9% of all sales in 2020, the hemp category dominated the Australian legal cannabis industry. The increase can be attributed to the growing prevalence of conditions like epilepsy and other sleep problems, as well as the growing popularity of hemp-based goods because of their numerous health benefits, like hemp CBD and supplements. In Australia, epilepsy has been diagnosed in over 250,000 persons, according to Epilepsy Action Australia. In addition, demand for hemp-based building materials is anticipated to rise in the future due to the expanding use of these products for a variety of industrial applications and the growing desire for green buildings as a result of environmental degradation.
In Australia’s legal cannabis market, the marijuana segment is anticipated to develop at the fastest rate during the forecast period. The legalizing and decriminalization of medical marijuana in the nation has led to a shift in consumer behavior toward the legal purchase of marijuana products for medical purposes. This is anticipated to cause a significant decline in the black market. Legalization of cannabis is expected to accelerate market growth due to its potential to increase government income through taxation.
Market Leaders in Australia Legal Cannabis :
• Cann Group Ltd.
• Zelira Therapeutics
• Aus Cann Group Holdings Pty Ltd.
• Bod Australia
• THC Global Group Limited
• Althea Group Holdings Limited
• Ecofibre Limited
• MGC Pharmaceuticals Ltd.
• Incannex Healthcare (IHL)
• Creso Pharma (CPH)
• Little Green Pharma (LGP)
• Botanix Pharmaceuticals
• IDT Australia (IDT)
• Zelira Therapeutics (ZLD)
• Emyria Limited (EMD)
• Medlab Clinical (MDC)
• Elixinol Wellness (EXL)
• Neurotech International (NTI)
• Rhinomed (RNO)
• Avecho Biotech (AVE)
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Market for Australia Legal Cannabis The scope and approach of the study
The Australia Legal Cannabis Market report encompasses essential details of key market participants and new entrants, including services, revenue, financial status, portfolio, growth strategies, and regional presence. It presents demand projections, market trends, and in-depth exploration of micro and macro factors that drive and constrain Australia Legal Cannabis market growth. The report integrates qualitative and quantitative methods, employing research tools such as SWOT, PESTLE, and Porter’s Five Forces to analyze the Australia Legal Cannabis market. This comprehensive analysis identifies significant upcoming developments poised to impact Australia Legal Cannabis market demand throughout the forecast period.
Regional Study of the Australia Legal Cannabis Market:
Geographically, Australia Legal Cannabis market report is segmented into following regions:
- Asia-Pacific (Vietnam, China, Malaysia, Japan, Philippines, Korea, Thailand, India, Indonesia, and Australia)
- Europe (Turkey, Germany, Russia UK, Italy, France, etc.)
- North America (the United States, Mexico, and Canada.)
- South America (Brazil etc.)
- Middle East and Africa (GCC Countries and Egypt.)
Section Heading: Australia Legal Cannabis Industry
Part 01: Executive Summary
Part 02: Scope of the Australia Legal Cannabis Market Report
Part 03: Australia Legal Cannabis Market Landscape
Part 04: Australia Legal Cannabis Market Sizing
Part 05: Australia Legal Cannabis Market Segmentation by Type
Part 06: Five Forces Analysis
Part 07: Customer Landscape
Part 08: Geographic Landscape
Part 09: Decision Framework
Part 10: Drivers and Challenges
Part 11: Market Trends
Part 12: Vendor Landscape
Part 13: Vendor Analysis
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Key questions answered in the Australia Legal Cannabis Market are:
- What is Australia Legal Cannabis ?
- What was the Australia Legal Cannabis market size in 2022?
- What is the growth rate of the Australia Legal Cannabis Market?
- Which are the factors expected to drive the Australia Legal Cannabis market growth?
- What are the different segments of the Australia Legal Cannabis Market?
- What are the factors restraining the growth of the Australia Legal Cannabis Market?
- What segments are covered in the Australia Legal Cannabis Market?
- Who are the Australia Legal Cannabis key players in the industry?
- What are the upcoming industry applications and trends for the Australia Legal Cannabis Market?
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Key Offerings:
- A detailed Market Overview
- Market Share, Size, and Forecast by Revenue
- Market Dynamics- Growth drivers, Restraints, Investment Opportunities, and key trends
- Market Segmentation- A detailed analysis of each segment and their segments
- Competitive Landscape – Leading key players and other prominent key players.
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