Australia Legal Cannabis Market leaders, opportunity, assessment, leading forecast 2027

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.

Australia Legal Cannabis Market Overview: The Australia Legal Cannabis market research provides a full competition picture, including the market share and company profiles of the major players in the worldwide industry. The scope of the research covers a complete examination of the Australia Legal Cannabis Market, as well as the causes for variances in the industry's growth in different areas.

Market Scope: To locate and collect material appropriate for this study, this research study makes considerable use of secondary sources, directories, and databases such as annual reports, press releases, journals, corporate websites, and databases.

This Australia Legal Cannabis market report covers new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, the impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographies, and product approvals, product launches. To learn more about Maximize Market Research Australia Legal Cannabis market, please contact us for an Analyst Brief; our experts will assist you in making an informed market choice to achieve your goals.

Segmentation:

In 2020, the hemp category led the Australian legal cannabis market, accounting for 84.9% of total sales. The increase is attributable to rising rates of ailments such as epilepsy and other sleep disorders, as well as increased use of hemp-based products, such as hemp CBD and supplements, for their many health advantages. According to Epilepsy Action Australia, over 250,000 people in Australia have been diagnosed with epilepsy. Furthermore, the increased use of these goods for various industrial uses, as well as the growing desire for green buildings as a result of environmental degradation, is expected to drive demand for hemp-based construction materials in the future.

Key Players:  

• 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)

The entire approach involves a review of the financial reports of the major market participants. Following the determination of the overall market size, the complete market was divided into many segments and sub-segments and checked with key industry professionals such as CEOs, VPs, directors, and marketing executives. The major players in the Australia Legal Cannabis market are

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Regional Analysis: The region portion of the Australia Legal Cannabis market study also includes individual market affecting elements and changes in legislation in the market that affect present and future market trends. Current and future trends are discussed in order to estimate the entire market potential and to highlight profitable trends in order to obtain a firmer footing. The geographic market assessment is based on the existing scenario and predicted developments.

COVID-19 Impact Analysis on Australia Legal Cannabis Market:

Following the outbreak of the pandemic, end-user sectors where Australia Legal Cannabis are used had a fall in growth from January to May in a variety of countries, including China, Italy, Germany, the United Kingdom, the United States, Spain, France, and India, due to a suspension in operations. This resulted in a major decrease in the revenues of firms operating in these industries and, as a consequence, in demand for Australia Legal Cannabis manufacturers, influencing the growth of the Australia Legal Cannabis market in 2020. With lockdowns and a rising number of COVID-19 cases throughout the world, the demand for Australia Legal Cannabis from end-user businesses has decreased significantly.

Key Questions Answered in the Australia Legal Cannabis Market Report are:

• Which are the major companies in the Australia Legal Cannabis market?
• Which is the potential market for Australia Legal Cannabis in terms of the region?

• What are the opportunities for new market entrants?

• What is expected to drive the growth of the market in the next seven years?

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