The Thailand Legal Cannabis Market was valued at USD 1.31 billion in 2024, and is projected to reach USD 7.10 billion by 2030, rising at a CAGR of 33.00%. 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.
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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
- Thailand legal cannabis market is characterized by a medium level of merger and acquisition (M&A).
- By source, the hemp segment dominated the market with the highest revenue share of 61.9% in 2024
- By cultivation, the indoor cultivation segment accounted for the largest revenue share of 54.7% in 2024 and is expected to register a fastest growth over the forecast period.
- By derivatives, the CBD segment dominated the market with the largest revenue share of 79.6% in 2024, and the segment is registered for the fastest CAGR growth over the forecast period.
- The medical use segment dominated the market with a revenue share of 53.9% in 2024.
This report addresses:
- Market intelligence to enable effective decision-making.
- Market estimates and forecasts from 2018 to 2030.
- Growth opportunities and trend analyses.
- Segment and regional revenue forecasts for market assessment.
- Competition strategy and market share analysis.
- Product innovation listings for you to stay ahead of the curve.
- COVID-19's impact and how to sustain in this fast-evolving market.
Why Should You Buy This Report?
- Comprehensive Market Analysis: Gain detailed insights into the market across major regions and segments.
- Competitive Landscape: Explore the market presence of key players.
- Future Trends: Discover the pivotal trends and drivers shaping the future of the market.
- Actionable Recommendations: Utilize insights to uncover new revenue streams and guide strategic business decisions.
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Table of Contents
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
Chapter 3. Thailand Legal Cannabis Market Variables, Trends & Scope
Chapter 4. Thailand Legal Cannabis Market Segment Analysis, by Source, 2018-2030 (USD Million)
Chapter 5. Thailand Legal Cannabis Market Segment Analysis, by Derivatives, 2018-2030 (USD Million)
Chapter 6. Thailand Legal Cannabis Market Segment Analysis, by Cultivation, 2018-2030 (USD Million)
Chapter 7. Thailand Legal Cannabis Market Segment Analysis, by End Use, 2018-2030 (USD Million)
Chapter 8. Competitive Landscape
List of Tables
List of Figures
Companies Mentioned
The major companies profiled in this Thailand Legal Cannabis market report include:- PharmaHemp
- Tilray Brands
- Canopy Growth Corporation
- Medipharm Labs
- Cresco Labs
- Extractas
- BOL Pharma
- Elixinol
- Dr. CBD Innovation Center
- SAPPE
- Osotspa Public Company Limited
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 150 |
| Published | February 2025 |
| Forecast Period | 2024 - 2030 |
| Estimated Market Value ( USD | $ 1.31 Billion |
| Forecasted Market Value ( USD | $ 7.1 Billion |
| Compound Annual Growth Rate | 33.0% |
| Regions Covered | Thailand |
| No. of Companies Mentioned | 12 |
