They write:

Key findings from the report include:

  • The Asian cannabis market is expected to be worth $US8.5 billion by 2024 if both medical and recreational cannabis are legalised across a number of key markets.
  • Almost 86 million people across Asia consume cannabis annually and medicinal cannabis consumption alone is expected to increase faster in Asia than in other early-adopter nations and regions.
  • China and Japan represent Asia’s two largest-value medicinal cannabis markets, worth almost US$4.4 billion to China and US$800 million to Japan by 2024; collectively they would account for an estimated 90% share of the market.
  • China has already established global dominance in hemp, accounting for nearly half of the world’s supply, worth an estimated US$1.2 billion.
  • India is home to the highest number of cannabis consumers in Asia, estimated at 38 million.

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