Australia legal cannabis Market size is expected to reach USD 540.6 million by 2030
Australia Legal Cannabis Industry Overview The Australia legal cannabis market size was estimated at USD 88.1 million in 2023 and is anticipated to grow at a CAGR of 27.8% from 2024 to 2030. The industry growth is propelled by the growing awareness of the health benefits of cannabis and the legalization of marijuana, mostly for medical purposes. Furthermore, the increase in medical marijuana output as a result of increasing demands in the pharmaceutical sector is boosting overall growth. In 2016, the Australian Government legalized cannabis for medicinal purposes in all six states and two territories. The Therapeutic Goods Administration (TGA) regulates the supply of medicinal cannabis in Australia. The legal framework regulating medicinal cannabis is constantly evolving and remains closely monitored. New cannabis legislation was enacted by the Australian government, allowing the Australian Capital Territory (ACT) to acquir...