Australia Legal Cannabis Market Is Likely To Witness Huge Growth
Australia Legal Cannabis Industry The Australia legal cannabis market size was estimated at USD 123.9 million in 2024 and is projected to grow at a compound annual growth rate (CAGR) of 23.7% from 2025 to 2030. The growth of the industry is primarily driven by the increasing awareness of the health benefits of cannabis, coupled with the growing legalization of marijuana, especially for medical purposes. As the understanding of cannabis as a therapeutic product expands, there has been a steady rise in demand for its use in the pharmaceutical sector, further propelling market growth. A key milestone for the Australian cannabis market occurred in 2016 when the government legalized cannabis for medicinal purposes across all six states and two territories. This move allowed patients with qualifying conditions to access medicinal cannabis products under strict regulations. The Therapeutic Goods Administration (TGA), a regulatory body, oversees the supply of medicinal cannabis products ...