[email protected] +44 20 8123 2220 (UK) +1 732 587 5005 (US) Contact Us | FAQ |

Thailand Legal Cannabis Market Size, Share & Trends Analysis Report By Source (Hemp, Marijuana), By Derivatives (CBD, THC), By Cultivation (Indoor Cultivation, Greenhouse Cultivation), By End-use (Industrial Use, Medical Use), And Segment Forecasts, 2024 - 2030

May 2024 | 150 pages | ID: T7BF0133A611EN
Grand View Research, Inc.

US$ 5,950.00

E-mail Delivery (PDF)

Download PDF Leaflet

Accepted cards
Wire Transfer
Checkout Later
Need Help? Ask a Question
This report can be delivered to the clients within 2 Business Days

Thailand Legal Cannabis Market Growth & Trends

The Thailand legal cannabis market size is expected to reach USD 7.10 billion by 2030, registering a CAGR of 32.5% from 2024 to 2030, according to a new report by Grand View Research, Inc. Factors such as cannabis legalization and its growing usage for medical purposes are driving the market growth. Furthermore, growing CBD-related R&D activities by government organizations, NGOs, private companies, and universities and rising government initiatives to boost the incorporation of cannabis into various industries further fuel market growth.

Cannabis extracts are generally used for the treatment of various conditions, such as mental disorders, cancer, pain management, & nausea, and for recreational purposes, such as vaping. Moreover, the demand for cannabis oils and tinctures for medical uses is increasing owing to social stigma related to the smoking of cannabis buds. For instance, in January 2020, in a suburb of Bangkok, approximately 400 patients, including cancer patients, were provided cannabis oil at a flagship clinic for free at the Public Health Ministry.

Furthermore, a surge in social acceptance of CBD for its therapeutic applications, an increasing number of product launches, rising disposable income of the country, and increasing healthcare expenditure are key factors fueling the business growth. For instance, in June 2022, Lifestar Company Limited, a Thai firm and subsidiary of RS Group, launched a CBD Krill Oil supplement for knee pain, which includes essential vitamins and minerals.

Thailand is experiencing a rising demand for cannabis tourism, leading to an increase in the availability of cannabis-themed tours and activities. These tours allow tourists to understand about the history, cultivation, and processing of cannabis in the country. From visiting cannabis farms and exploring traditional Thai herbal medicine to attending cannabis cooking classes, there are plenty of opportunities for tourists, which drives the market growth. For instance, in Thailand, the Asia International Hemp Expo and Forum is an annual international event that caters to individuals, businesses, and industrialists interested in learning about hemp.

Thailand Legal Cannabis Market Report Highlights
  • By source, the hemp segment accounted for the largest revenue share in 2023 due to its high nutritional value and increased usage in the textile and non-textiles industries.
  • By cultivation, the indoor cultivation segment dominated the market in 2023, owing to technological advancements & innovations, rising investments, favorable government initiatives, and regulatory framework.
  • By derivatives, the CBD segment dominated the market with the largest revenue share in 2023 and is expected to register the fastest growth over the forecast period owing to the use of CBD to treat various conditions, such as cancer, mental disorders, and arthritis.
  • By end use, the industrial use segment held the largest market share in 2023 due to increased usage of cannabis in oil production, personal care, food & beverages, and animal feed industries and paper, building materials, and home insulation materials.
CHAPTER 1. METHODOLOGY AND SCOPE

1.1. Market Segmentation & Scope
1.2. Segment Definitions
  1.2.1. Source
  1.2.2. Cultivation
  1.2.3. Derivatives
  1.2.4. End-use
1.3. Estimates and Forecast Timeline
1.4. Research Methodology
1.5. Information Procurement
  1.5.1. Purchased Database
  1.5.2. GVR’s Internal Database
  1.5.3. Secondary Sources
  1.5.4. Primary Research
1.6. Information Analysis
  1.6.1. Data Analysis Models
1.7. Market Formulation & Data Visualization
1.8. Model Details
  1.8.1. Commodity Flow Analysis
1.9. List of Secondary Sources
1.10. Objectives

CHAPTER 2. EXECUTIVE SUMMARY

2.1. Market Snapshot
2.2. Segment Snapshot
  2.2.1. Source outlook
  2.2.2. Cultivation outlook
  2.2.3. Derivatives outlook
  2.2.4. End-use outlook
2.3. Competitive Landscape Snapshot

CHAPTER 3. THAILAND LEGAL CANNABIS MARKET VARIABLES, TRENDS, & SCOPE

3.1. Market Lineage Outlook
3.2. Market Dynamics
  3.2.1. Market Driver Analysis
    3.2.1.1. Growing adoption of cannabis for treatment of chronic diseases
    3.2.1.2. Growing demand for CBD-based products
    3.2.1.3. Increasing preference for cannabis extracts such as oils and tinctures
    3.2.1.4. Rising number of cannabis farms or cultivators in Thailand due to legalization
    3.2.1.5. Rise in business expansion strategies to enter Thailand cannabis market
    3.2.1.6. Structured regulatory framework and supportive reimbursement policies
  3.2.2. Market Restraint Analysis
    3.2.2.1. Introduction of a bill to amend the current cannabis legislation to ban its recreational use
  3.2.3. Case Study Analysis
3.3. Business Environment Analysis
  3.3.1. Industry Analysis - Porter’s Five Forces
    3.3.1.1. Supplier power
    3.3.1.2. Buyer power
    3.3.1.3. Substitution threat
    3.3.1.4. Threat of new entrant
    3.3.1.5. Competitive rivalry
  3.3.2. PESTLE Analysis
3.4. Regulatory Landscape

CHAPTER 4. THAILAND LEGAL CANNABIS MARKET SEGMENT ANALYSIS, BY SOURCE, 2018 - 2030 (USD MILLION)

4.1. Definition and Scope
4.2. Source Segment Dashboard
4.3. Market Size & Forecasts and Trend Analyses, 2018 to 2030 for the following
4.4. Hemp
  4.4.1. Market estimates and forecasts, 2018 to 2030 (USD Million)
  4.4.2. Hemp Oil
    4.4.2.1. Market estimates and forecasts, 2018 to 2030 (USD Million)
  4.4.3. Industrial Hemp
    4.4.3.1. Market estimates and forecasts, 2018 to 2030 (USD Million)
4.5. Marijuana
    4.5.1.1. Market estimates and forecasts, 2018 to 2030 (USD Million)
  4.5.2. Flower
    4.5.2.1. Market estimates and forecasts, 2018 to 2030 (USD Million)
  4.5.3. Oil and Tinctures
    4.5.3.1. Market estimates and forecasts, 2018 to 2030 (USD Million)

CHAPTER 5. THAILAND LEGAL CANNABIS MARKET SEGMENT ANALYSIS, BY CULTIVATION, 2018 - 2030 (USD MILLION)

5.1. Definition and Scope
5.2. Cultivation Segment Dashboard
5.3. Market Size & Forecasts and Trend Analyses, 2018 to 2030 for the following
5.4. Indoor Cultivation
  5.4.1. Market estimates and forecasts, 2018 to 2030 (USD Million)
5.5. Greenhouse Cultivation
  5.5.1. Market estimates and forecasts, 2018 to 2030 (USD Million)
5.6. Outdoor Cultivation
  5.6.1. Market estimates and forecasts, 2018 to 2030 (USD Million)

CHAPTER 6. THAILAND LEGAL CANNABIS MARKET SEGMENT ANALYSIS, BY DERIVATIVES, 2018 - 2030 (USD MILLION)

6.1. Definition and Scope
6.2. Derivatives Segment Dashboard
6.3. Market Size & Forecasts and Trend Analyses, 2018 to 2030 for the following
6.4. CBD
  6.4.1. Market estimates and forecasts, 2018 to 2030 (USD Million)
6.5. THC
  6.5.1. Market estimates and forecasts, 2018 to 2030 (USD Million)
6.6. Others
  6.6.1. Market estimates and forecasts, 2018 to 2030 (USD Million)

CHAPTER 7. THAILAND LEGAL CANNABIS MARKET SEGMENT ANALYSIS, BY END-USE, 2018 - 2030 (USD MILLION)

7.1. Definition and Scope
7.2. End-use Segment Dashboard
7.3. Market Size & Forecasts and Trend Analyses, 2018 to 2030 for the following
7.4. Industrial Use
  7.4.1. Market estimates and forecasts, 2018 to 2030 (USD Million)
7.5. Medical Use
  7.5.1. Market estimates and forecasts, 2018 to 2030 (USD Million)
  7.5.2. Chronic Pain
    7.5.2.1. Market estimates and forecasts, 2018 to 2030 (USD Million)
  7.5.3. Depression and Anxiety
    7.5.3.1. Market estimates and forecasts, 2018 to 2030 (USD Million)
  7.5.4. Arthritis
    7.5.4.1. Market estimates and forecasts, 2018 to 2030 (USD Million)
  7.5.5. Post-Traumatic Stress Disorder (PTSD)
    7.5.5.1. Market estimates and forecasts, 2018 to 2030 (USD Million)
  7.5.6. Cancer
    7.5.6.1. Market estimates and forecasts, 2018 to 2030 (USD Million)
  7.5.7. Migraines
    7.5.7.1. Market estimates and forecasts, 2018 to 2030 (USD Million)
  7.5.8. Epilepsy
    7.5.8.1. Market estimates and forecasts, 2018 to 2030 (USD Million)
  7.5.9. Alzheimer’s
    7.5.9.1. Market estimates and forecasts, 2018 to 2030 (USD Million)
  7.5.10. Multiple Sclerosis
    7.5.10.1. Market estimates and forecasts, 2018 to 2030 (USD Million)
  7.5.11. Amyotrophic Lateral Sclerosis
    7.5.11.1. Market estimates and forecasts, 2018 to 2030 (USD Million)
  7.5.12. Tourette’s
    7.5.12.1. Market estimates and forecasts, 2018 to 2030 (USD Million)
  7.5.13. Diabetes
    7.5.13.1. Market estimates and forecasts, 2018 to 2030 (USD Million)
  7.5.14. Parkinson's
    7.5.14.1. Market estimates and forecasts, 2018 to 2030 (USD Million)
  7.5.15. Glaucoma
    7.5.15.1. Market estimates and forecasts, 2018 to 2030 (USD Million)
  7.5.16. Others
    7.5.16.1. Market estimates and forecasts, 2018 to 2030 (USD Million)
7.6. Recreational Use
  7.6.1. Market estimates and forecasts, 2018 to 2030 (USD Million)

CHAPTER 8. COMPETITIVE LANDSCAPE

8.1. Recent Developments & Impact Analysis, by Key Market Participants
8.2. Company Categorization
8.3. Company Market Position Analysis
8.4. Company Profiles
  8.4.1. PharmaHemp
    8.4.1.1. Overview
    8.4.1.2. Financial Performance
    8.4.1.3. Service Benchmarking
    8.4.1.4. Strategic Initiatives
  8.4.2. Tilray Brands
    8.4.2.1. Overview
    8.4.2.2. Financial Performance
    8.4.2.3. Service Benchmarking
    8.4.2.4. Strategic Initiatives
  8.4.3. Canopy Growth Corporation
    8.4.3.1. Overview
    8.4.3.2. Financial Performance
    8.4.3.3. Service Benchmarking
    8.4.3.4. Strategic Initiatives
  8.4.4. Medipharm Labs
    8.4.4.1. Overview
    8.4.4.2. Financial Performance
    8.4.4.3. Service Benchmarking
    8.4.4.4. Strategic Initiatives
  8.4.5. Epic Systems Corporation
    8.4.5.1. Overview
    8.4.5.2. Financial Performance
    8.4.5.3. Service Benchmarking
    8.4.5.4. Strategic Initiatives
  8.4.6. Cresco Labs
    8.4.6.1. Overview
    8.4.6.2. Financial Performance
    8.4.6.3. Service Benchmarking
    8.4.6.4. Strategic Initiatives
  8.4.7. Extractas
    8.4.7.1. Overview
    8.4.7.2. Financial Performance
    8.4.7.3. Service Benchmarking
    8.4.7.4. Strategic Initiatives
  8.4.8. BOL Pharma
    8.4.8.1. Overview
    8.4.8.2. Financial Performance
    8.4.8.3. Service Benchmarking
    8.4.8.4. Strategic Initiatives
  8.4.9. Elixinol
    8.4.9.1. Overview
    8.4.9.2. Financial Performance
    8.4.9.3. Service Benchmarking
    8.4.9.4. Strategic Initiatives
  8.4.10. Dr. CBD Innovation Center
    8.4.10.1. Overview
    8.4.10.2. Financial Performance
    8.4.10.3. Service Benchmarking
    8.4.10.4. Strategic Initiatives
  8.4.11. SAPPE
    8.4.11.1. Overview
    8.4.11.2. Financial Performance
    8.4.11.3. Service Benchmarking
    8.4.11.4. Strategic Initiatives
  8.4.12. Osotspa Public Company Limited
    8.4.12.1. Overview
    8.4.12.2. Financial Performance
    8.4.12.3. Service Benchmarking
    8.4.12.4. Strategic Initiatives
LIST OF TABLES


Table 1 List of secondary sources
Table 2 List of abbreviations
Table 3 Thailand legal cannabis market, by source, 2018 - 2030 (USD Million)
Table 4 Thailand legal cannabis market, by cultivation, 2018 - 2030 (USD Million)
Table 5 Thailand legal cannabis market, by derivatives, 2018 - 2030 (USD Million)
Table 6 Thailand legal cannabis market, by end-use, 2018 - 2030 (USD Million)
LIST OF FIGURES


Fig. 1 Market research process
Fig. 2 Data triangulation techniques
Fig. 3 Primary research pattern
Fig. 4 Market research approaches
Fig. 5 Value-chain-based sizing & forecasting
Fig. 6 QFD modeling for market share assessment
Fig. 7 Market formulation & validation
Fig. 8 Thailand legal cannabis market: market outlook
Fig. 9 Thailand legal cannabis competitive insights
Fig. 10 Parent market outlook
Fig. 11 Related/ancillary market outlook.
Fig. 12 Industry value chain analysis
Fig. 13 Thailand legal cannabis market driver impact
Fig. 14 Thailand legal cannabis market restraint impact
Fig. 15 Thailand legal cannabis market strategic initiatives analysis
Fig. 16 Thailand legal cannabis market: Source movement analysis
Fig. 17 Thailand legal cannabis market: Source outlook and key takeaways
Fig. 18 Hemp market estimates and forecasts, 2018 - 2030
Fig. 19 Hemp Oil market estimates and forecasts, 2018 - 2030
Fig. 20 Industrial Hemp market estimates and forecasts, 2018 - 2030
Fig. 21 Marijuana market estimates and forecasts, 2018 - 2030
Fig. 22 Flower market estimates and forecasts, 2018 - 2030
Fig. 23 Oil and Tinctures market estimates and forecasts, 2018 - 2030
Fig. 24 Thailand legal cannabis market: Cultivation movement analysis
Fig. 25 Thailand legal cannabis market: Cultivation outlook and key takeaways
Fig. 26 Indoor Cultivation market estimates and forecasts, 2018 - 2030
Fig. 27 Greenhouse Cultivation market estimates and forecasts, 2018 - 2030
Fig. 28 Outdoor Cultivation market estimates and forecasts, 2018 - 2030
Fig. 29 Thailand legal cannabis market: Derivatives movement analysis
Fig. 30 Thailand legal cannabis market: Derivatives outlook and key takeaways
Fig. 31 CBD market estimates and forecasts, 2018 - 2030
Fig. 32 THC market estimates and forecasts, 2018 - 2030
Fig. 33 Others market estimates and forecasts, 2018 - 2030
Fig. 34 Thailand legal cannabis market: End-use movement analysis
Fig. 35 Thailand legal cannabis market: End-use outlook and key takeaways
Fig. 36 Industrial Use market estimates and forecasts, 2018 - 2030
Fig. 37 Medical Use market estimates and forecasts, 2018 - 2030
Fig. 38 Chronic Pain market estimates and forecasts, 2018 - 2030
Fig. 39 Depression and Anxiety market estimates and forecasts, 2018 - 2030
Fig. 40 Arthritis market estimates and forecasts, 2018 - 2030
Fig. 41 Post-Traumatic Stress Disorder (PTSD) market estimates and forecasts, 2018 - 2030
Fig. 42 Cancer market estimates and forecasts, 2018 - 2030
Fig. 43 Migraines market estimates and forecasts, 2018 - 2030
Fig. 44 Epilepsy market estimates and forecasts, 2018 - 2030
Fig. 45 Alzheimer’s market estimates and forecasts, 2018 - 2030
Fig. 46 Multiple Sclerosis market estimates and forecasts, 2018 - 2030
Fig. 47 AIDS market estimates and forecasts, 2018 - 2030
Fig. 48 Amyotrophic Lateral Sclerosis market estimates and forecasts, 2018 - 2030
Fig. 49 Tourette’s market estimates and forecasts, 2018 - 2030
Fig. 50 Diabetes market estimates and forecasts, 2018 - 2030
Fig. 51 Parkinson's market estimates and forecasts, 2018 - 2030
Fig. 52 Glaucoma market estimates and forecasts, 2018 - 2030
Fig. 53 Others market estimates and forecasts, 2018 - 2030
Fig. 54 Key company categorization


More Publications