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Thailand Legal Cannabis Market Size, Share & Trends Analysis Report By Derivative (Marijuana, Hemp), By Sources (CBD, THC), By End-use (Medical Use, Recreational Use, Industrial Use), And Segment Forecasts, 2022 - 2030

October 2022 | 80 pages | ID: TD4AC5AF0F80EN
Grand View Research, Inc.

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Thailand Legal Cannabis Market Growth & Trends

The Thailand legal cannabis market size is expected to reach USD 9.6 billion by 2030, according to a new report by Grand View Research, Inc. The market is anticipated to expand at a CAGR of 58.4% from 2022 to 2030. The growth is attributed to the rising usage of cannabis for recreational and medical purposes. Cannabis legalization has opened new revenue-generating opportunities for various industries in the country. The adoption of CBD oil and tinctures for treating various ailments like nausea, anxiety, and cancer along with the rising prevalence of cancer are some of the significant factors boosting the industry’s growth.

The growing burden of chronic pain has also augmented the rise in the usage of CBD for treatments related to pain management and thus, positively impacting the market growth. Various studies have shown positive outcomes of marijuana and its derivatives to treat symptoms of several chronic conditions. For instance, it has been effectively used to treat patients dealing with chronic pain, nausea induced by chemotherapy, and neurological diseases such as Alzheimer’s and Parkinson’s. Hence, FDA and other government organizations are permitting marijuana derivatives for the prescription of several diseases. This is one of the key factors for the quick turnaround.

In 2018, Thailand legalized the adoption of cannabis for medical purposes. Furthermore, in June 2022, the government decriminalized the distribution, cultivation, consumption, and marketing of all the parts of the cannabis plant. The Thai Food and Drug Administration has also removed the cannabis plant from the Category 5 narcotics list. Although, smoking cannabis in public areas is still illegal.

Furthermore, the rising disposable income of the country, increasing healthcare expenditure, a surge in social acceptance of CBD for its therapeutic applications, and an increasing number of product launches, along with improvements in intellectual property rights of Thailand are some of the key reasons that are expected to fuel the business growth.

Moreover, with this legalization, more domestic players are planning to explore the CBD market and key players are also planning strategic initiatives to expand their product portfolio and regional domination through mergers & acquisitions, collaborations, partnerships, funding & investments. For instance, in December 2020, Tilray Brand s Inc. merged with Aphria and will operate under the name Tilray. Such factors also fuel the industry’s growth.

The growing trend of cannabis-infused food and beverages and the rising adoption of CBD oil by cosmetics and wellness industries also boost the industry’s growth within the country.

Thailand Legal Cannabis Market Report Highlights
  • The hemp segment dominated the Thailand legal cannabis industry in 2021 and accounted for the largest revenue share of 88.4%. Growing usage of hemp for industrial purposes is one of the key factors fueling the segment’s growth
  • The CBD segment held the largest revenue share of about 68.4% in 2021. The growth of the segment is attributed to the rising acceptance of CBD by consumers. However, the THC segment is expected to grow at the fastest CAGR of 61.4%
  • In 2021, the industrial segment held the largest revenue share at 81.9%. Growing adoption of CBD by various industries such as wellness and cosmetics, food and beverages, and others are projected to boost the segment’s growth
CHAPTER 1 METHODOLOGY AND SCOPE

1.1 Research Process
1.2 Information Procurement
  1.2.1 Purchased database:
    1.2.1.1 GVR’s internal database
  1.2.2 Market Formulation & Validation
1.3 Research Methodology
1.4 Research Scope and Assumptions
1.5 Research Methodology
  1.5.1 Country Market: CAGR Calculation
  1.5.2 Region-Based Segment Share Calculation
1.6 List of Data Sources

CHAPTER 2 EXECUTIVE SUMMARY

2.1 Market Outlook
2.2 Segment Outlook
2.3 Competitive Insights
2.4 Thailand Legal Cannabis Market Snapshot

CHAPTER 3 THAILAND LEGAL CANNABIS MARKET VARIABLES, TRENDS & SCOPE

3.1 Market Segmentation
3.2 Penetration and Growth Prospect Mapping
3.3 Market Dynamics
  3.3.1 Market Driver Analysis
  3.3.2 Market Restraint Analysis
3.4 Thailand Legal Cannabis Industry: History Of Medical Use Of Cannabis
3.5 Thailand Legal Cannabis Industry: History Of Industrial Use Of Cannabis
3.6 Thailand Legal Cannabis Industry: Number Of Clinical Trials
3.7 Thailand Legal Cannabis Industry: Legalization Timeline
3.8 Thailand Legal Cannabis Industry: Consumption Pattern Analysis
3.9 Thailand Legal Cannabis Industry: Country Case Studies
  3.9.1 Thailand
    3.9.1.1 Legalization Of Cannabis:
    3.9.1.2 Licensing And Import/Export Scenario As Per Legalization Regulations:
    3.9.1.3 Reason For Legalization:
    3.9.1.4 Scenario After Legalization:
    3.9.1.5 Competitive Landscape Post Legalization:

CHAPTER 4 THAILAND LEGAL CANNABIS MARKET: SOURCE ESTIMATES & TREND ANALYSIS

4.1 Segment Dashboard
4.2 Thailand Legal Cannabis Market: Source Movement Analysis, (USD Million) 2021 & 2030
  4.2.1 Marijuana
    4.2.1.1 Marijuana Market Estimates And Forecasts, 2018 - 2030 (USD Million)
    4.2.1.2 Flowers
      4.2.1.2.1 Flowers Market Estimates And Forecasts, 2018 - 2030 (USD Million)
    4.2.1.3 Oil And Tinctures
      4.2.1.3.1 Oil And Tinctures Market Estimates And Forecasts, 2018 - 2030 (USD Million)
  4.2.2 Hemp
    4.2.2.1 Hemp Market Estimates And Forecasts, 2018 - 2030 (USD Million)
    4.2.2.2 Hemp CBD
      4.2.2.2.1 Hemp CBD Market Estimates And Forecasts, 2018 - 2030 (USD Million)
    4.2.2.3 Supplements
      4.2.2.3.1 Supplements Market Estimates And Forecasts, 2018 - 2030 (USD Million)
    4.2.2.4 Industrial Hemp
      4.2.2.4.1 Industrial Hemp Market Estimates And Forecasts, 2018 - 2030 (USD Million)

CHAPTER 5 THAILAND LEGAL CANNABIS MARKET: DERIVATIVE ESTIMATES & TREND ANALYSIS

5.1 Segment Dashboard
5.2 Thailand Legal Cannabis Market: Derivative Movement Analysis, USD Million, 2021 & 2030
  5.2.1 CBD
    5.2.1.1 CBD Market Estimates And Forecasts, 2018 - 2030 (USD Million)
  5.2.2 THC
    5.2.2.1 THC Market Estimates And Forecasts, 2018 - 2030 (USD Million)
  5.2.3 Others
    5.2.3.1 Others Market Estimates And Forecasts, 2018 - 2030 (USD Million)

CHAPTER 6 THAILAND LEGAL CANNABIS MARKET: END-USE ESTIMATES & TREND ANALYSIS

6.1 Segment Dashboard
6.2 Thailand Legal Cannabis Market: End-Use Movement Analysis, USD Million, 2021 & 2030
  6.2.1 Medical Use
    6.2.1.1 Medical Use Market Estimates And Forecasts, 2018 - 2030 (USD Million)
    6.2.1.2 Cancer
      6.2.1.2.1 Cancer Market Estimates And Forecasts, 2018 - 2030 (USD Million)
    6.2.1.3 Chronic Pain
      6.2.1.3.1 Chronic Pain Market Estimates And Forecasts, 2018 - 2030 (USD Million)
    6.2.1.4 Depression And Anxiety
      6.2.1.4.1 Depression And Anxiety Market Estimates And Forecasts, 2018 - 2030 (USD Million)
    6.2.1.5 Arthritis
      6.2.1.5.1 Arthritis Market Estimates And Forecasts, 2018 - 2030 (USD Million)
    6.2.1.6 Diabetes
      6.2.1.6.1 Diabetes Market Estimates And Forecasts, 2018 - 2030 (USD Million)
    6.2.1.7 Glaucoma
      6.2.1.7.1 Glaucoma Market Estimates And Forecasts, 2018 - 2030 (USD Million)
    6.2.1.8 Migraines
      6.2.1.8.1 Migraines Market Estimates And Forecasts, 2018 - 2030 (USD Million)
    6.2.1.9 Epilepsy
      6.2.1.9.1 Epilepsy Market Estimates And Forecasts, 2018 - 2030 (USD Million)
    6.2.1.10 Multiple Sclerosis
      6.2.1.10.1 Multiple Sclerosis Market Estimates And Forecasts, 2018 - 2030 (USD Million)
    6.2.1.11 AIDS
      6.2.1.11.1 AIDS Market Estimates And Forecasts, 2018 - 2030 (USD Million)
    6.2.1.12 Amyotrophic Lateral Sclerosis
      6.2.1.12.1 Amyotrophic Lateral Sclerosis Market Estimates And Forecasts, 2018 - 2030 (USD Million)
    6.2.1.13 Alzheimer's Disease
      6.2.1.13.1 Alzheimer's Disease Market Estimates And Forecasts, 2018 - 2030 (USD Million)
    6.2.1.14 Post-Traumatic Stress Disorder (Ptsd)
      6.2.1.14.1 Post Traumatic Stress Disorder (Ptsd) Market Estimates And Forecasts, 2018 - 2030 (USD Million)
    6.2.1.15 Parkinson's Disease
      6.2.1.15.1 Parkinson's Disease Market Estimates And Forecasts, 2018 - 2030 (USD Million)
    6.2.1.16 Tourette Syndrome
      6.2.1.16.1 Tourette’s Disease Market Estimates And Forecasts, 2018 - 2030 (USD Million)
    6.2.1.17 Others
      6.2.1.17.1 Others Market Estimates And Forecasts, 2018 - 2030 (USD Million)
  6.2.2 Recreational Use
    6.2.2.1 Recreational Use Market Estimates And Forecasts, 2018 - 2030 (USD Million)
  6.2.3 Industrial Use
    6.2.3.1 Industrial Use Market Estimates And Forecasts, 2018 - 2030 (USD Million)

CHAPTER 7 THAILAND LEGAL CANNABIS MARKET: COMPETITIVE ANALYSIS

7.1 Company Market Position Analysis
7.2 Strategic Framework

CHAPTER 8 COMPETITIVE LANDSCAPE

8.1 Company Profiles
  8.1.1 PharmaHemp
    8.1.1.1 Company overview
    8.1.1.2 Financial performance
    8.1.1.3 Service benchmarking
    8.1.1.4 Strategic initiatives
  8.1.2 THC Thailand Group Ltd.
    8.1.2.1 Company overview
    8.1.2.2 Financial performance
    8.1.2.3 Service benchmarking
    8.1.2.4 Strategic initiatives
  8.1.3 MediPharm Labs, Inc.
    8.1.3.1 Company overview
    8.1.3.2 Financial performance
    8.1.3.3 Service benchmarking
    8.1.3.4 Strategic initiatives
  8.1.4 Cresco Labs
    8.1.4.1 Company overview
    8.1.4.2 Financial performance
    8.1.4.3 Service benchmarking
    8.1.4.4 Strategic initiatives
  8.1.5 Elixinol Thailand Limited
    8.1.5.1 Company overview
    8.1.5.2 Financial performance
    8.1.5.3 Service benchmarking
    8.1.5.4 Strategic initiatives
  8.1.6 Tilray
    8.1.6.1 Company overview
    8.1.6.2 Financial performance
    8.1.6.3 Service benchmarking
    8.1.6.4 Strategic initiatives
  8.1.7 Extractas
    8.1.7.1 Company overview
    8.1.7.2 Financial performance
    8.1.7.3 Service benchmarking
    8.1.7.4 Strategic initiatives
  8.1.8 BOL Pharma
    8.1.8.1 Company overview
    8.1.8.2 Financial performance
    8.1.8.3 Service benchmarking
    8.1.8.4 Strategic initiatives
  8.1.9 Canopy Growth Corporation
    8.1.9.1 Company overview
    8.1.9.2 Financial performance
    8.1.9.3 Service benchmarking
    8.1.9.4 Strategic initiatives
LIST OF TABLES

Table 1 Thailand legal cannabis market, by source, 2018 - 2030 (USD Million)
Table 2 Thailand legal cannabis market, by derivative, 2018 - 2030 (USD Million)
Table 3 Thailand legal cannabis market, by end-use, 2018 - 2030 (USD Million)
LIST OF FIGURES

Fig. 1 Various stages of the research workflow
Fig. 2 Information procurement
Fig. 3 Market Formulation & Validation
Fig. 4 Thailand legal cannabis market, source outlook key takeaways (USD Million)
Fig. 5 Thailand legal cannabis market: Source movement analysis, 2021 & 2030 (USD Million)
Fig. 6 Marijuana market estimates and forecasts, 2018 - 2030 (USD Million)
Fig. 7 Flower market estimates and forecasts, 2018 - 2030 (USD Million)
Fig. 8 Oil and tinctures market estimates and forecasts, 2018 - 2030 (USD Million)
Fig. 9 Hemp market estimates and forecasts, 2018 - 2030 (USD Million)
Fig. 10 Hemp CBD market estimates and forecasts, 2018 - 2030 (USD Million)
Fig. 11 Supplements market estimates and forecasts, 2018 - 2030 (USD Million)
Fig. 12 Industrial Hemp market estimates and forecasts, 2018 - 2030 (USD Million)
Fig. 13 Thailand legal cannabis market, derivatives outlook key takeaways (USD Million)
Fig. 14 Thailand legal cannabis market: derivatives movement analysis, 2021 & 2030 (USD Million)
Fig. 15 CBD market estimates and forecasts, 2018 - 2030 (USD Million)
Fig. 16 THC market estimates and forecasts, 2018 - 2030 (USD Million)
Fig. 17 Others market estimates and forecasts, 2018 - 2030 (USD Million)
Fig. 18 Thailand legal cannabis market, end-use outlook key takeaways (USD Million)
Fig. 19 Thailand legal cannabis market: end-use movement analysis, 2021 & 2030 (USD Million)
Fig. 20 Thailand legal cannabis market: proportion of hemp and marijuana by end use (%)
Fig. 21 Medical use market estimates and forecasts, 2018 - 2030 (USD Million)
Fig. 22 Cancer market estimates and forecasts, 2018 - 2030 (USD Million)
Fig. 23 Chronic pain market estimates and forecasts, 2018 - 2030 (USD Million)
Fig. 24 Depression and anxiety market estimates and forecasts, 2018 - 2030 (USD Million)
Fig. 25 Arthritis market estimates and forecasts, 2018 - 2030 (USD Million)
Fig. 26 Diabetes market estimates and forecasts, 2018 - 2030 (USD Million)
Fig. 27 Glaucoma market estimates and forecasts, 2018 - 2030 (USD Million)
Fig. 28 Migraines market estimates and forecasts, 2018 - 2030 (USD Million)
Fig. 29 Epilepsy market estimates and forecasts, 2018 - 2030 (USD Million)
Fig. 30 Multiple Sclerosis market estimates and forecasts, 2018 - 2030 (USD Million)
Fig. 31 AIDS market estimates and forecasts, 2018 - 2030 (USD Million)
Fig. 32 Amyotrophic Lateral Sclerosis market estimates and forecasts, 2018 - 2030 (USD Million)
Fig. 33 Alzheimer's disease market estimates and forecasts, 2018 - 2030 (USD Million)
Fig. 34 Post Traumatic Stress Disorder (PTSD) market estimates and forecasts, 2018 - 2030 (USD Million)
Fig. 35 Parkinson's disease market estimates and forecasts, 2018 - 2030 (USD Million)
Fig. 36 Tourette syndrome market estimates and forecasts, 2018 - 2030 (USD Million)
Fig. 37 Others market estimates and forecasts, 2018 - 2030 (USD Million)
Fig. 38 Recreational use market estimates and forecasts, 2018 - 2030 (USD Million)
Fig. 39 Industrial use market estimates and forecasts, 2018 - 2030 (USD Million)


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