At the same time, 42.3% of Australians aged 18+ say they have used cannabis, 80% believe using cannabis should not be a criminal offence, net approval for regular cannabis use has continued to increase, and 54% of Victorians support a regulated adult use cannabis access model.

That growth is being driven primarily by access to dried flower products, with the market share of oral liquid products declining from 30% of units sold in 2022 H2, to 15% in 2024 H1.

Australia's medicinal cannabis market is booming - from January to June 2024, over 2.8 million units of prescribed medicinal cannabis were sold to patients, equating to roughly $400m+ in estimated revenue. At the current growth trajectory, annual sales could reach $1b this year.