Market Research Insights

  San Francisco, 18 June 2024:  The 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, 2024 - 2030 The Australia legal cannabis market size is expected to reach USD 540.6 million by 2030, registering a CAGR of 27.8% from 2024 to 2030, according to a new report by Grand View Research, Inc. Factors such as a growing patient population, cannabis legalization, government initiatives, and the presence of local and foreign players in the country contribute to market growth. For instance, according to the data published by the Penington Institute in 2022, approximately 250,000 medicinal cannabis prescriptions were approved up to June 2022. The marijuana industry is booming due to the increasing adoption of marijuana for medical and adult use. Marijuana has only been legalized for medical use in Australia and is anticipated to

  San Francisco, 6 Jan 2022:   The Report  Australia Legal Cannabis Market  Size, Share & Trends Analysis Report By Product Type (Marijuana, Hemp), By Application (Medical Use, Industrial Use), And Segment Forecasts, 2021 - 2028 The Australia legal cannabis market size is expected to reach USD 375.7 million by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 32.7% from 2021 to 2028. The increasing legalization of cannabis, rising patient population, increasing government support, and the availability of local and international players in the country are some of the major factors boosting the country’s growth. In addition, the surge in medical marijuana production owing to its increasing demand in the pharmaceutical sector is further propelling overall growth. The COVD-19 pandemic has negatively impacted the country’s growth rate due to supply chain restrictions imposed due to nationwide lockdown. As of 2020, the hemp product