Australia’s legal cannabis market is projected to reach $3.05 billion by 2033, with rising medical marijuana demand helping drive growth, according to a report highlighted Monday by Research and Markets.
The analysis, produced by Grand View Research, estimates the market was worth $862.31 million in 2025 and forecasts a compound annual growth rate of 16.19% from 2026 through 2033. All figures are in U.S. dollars.
Reaching the projected total would bring the market to more than 3.5 times its estimated 2025 value, an increase of approximately $2.19 billion.
The forecast covers both marijuana and hemp, including medical and industrial applications. Its scope extends across CBD, THC and other derivatives, meaning the $3.05 billion projection encompasses a broader industry than medical marijuana sales alone.
According to the report’s summary, growing demand for medicinal cannabis products and increasing awareness of their potential health benefits are key factors supporting expansion. Demand from the pharmaceutical sector is also encouraging additional production.
Grand View Research identifies medical use as the largest end-use segment in 2025, while CBD accounted for the largest share among derivatives.
The 100-page report examines market trends, competition, domestic production, imports and the regulatory environment. Companies profiled include Cann Group, Little Green Pharma, Cannatrek, Montu Group and Australian Natural Therapeutics Group.
