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Flora Growth Corp. Enters $94 million Australian Medical Cannabis Market with Canopy Growth Corp. Distribution Agreement for Storz & Bickel Vaporizers
Flora Growth Corp. (NASDAQ: FLGC) has announced a distribution agreementwith Canopy Growth Corp. (NASDAQ: CGC) to distribute Canopy's Storz & Bickel medical vaporizers in Australia through Flora's subsidiary, Australian Vaporizers. This move expands Flora's presence in the Australian medical cannabis market, estimated at $94 million with a projected CAGR of 33.6% from 2024 to 2030.
The global handheld marijuana vaporizer market, valued at approximately $5 billion, is expected to grow at a 13.4% CAGR by 2031. Storz & Bickel vaporizers are known for their premium engineering and cutting-edge technology, designed to meet medical cannabis users' needs. Australian Vaporizers will lead the distribution efforts to healthcare professionals and clinics across Australia, leveraging its established reputation in the country's medical cannabis ecosystem.
The global handheld marijuana vaporizer market, valued at approximately $5 billion, is expected to grow at a 13.4% CAGR by 2031. Storz & Bickel vaporizers are known for their premium engineering and cutting-edge technology, designed to meet medical cannabis users' needs. Australian Vaporizers will lead the distribution efforts to healthcare professionals and clinics across Australia, leveraging its established reputation in the country's medical cannabis ecosystem.
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