Thailand Cannabis Cultivation Market Size & Outlook
Thailand Cannabis Cultivation Market, 2018-2030 (US$M)
Global Market
Related Markets
Thailand cannabis cultivation market highlights
- The Thailand cannabis cultivation market generated a revenue of USD 5,191.6 million in 2022 and is expected to reach USD 27,406.1 million by 2030.
- The Thailand market is expected to grow at a CAGR of 23.1% from 2023 to 2030.
- In terms of segment, hemp was the largest revenue generating biomass in 2022.
- Marijuana is the most lucrative biomass segment registering the fastest growth during the forecast period.
Cannabis cultivation market data book summary
| Market revenue in 2022 | USD 5,191.6 million |
| Market revenue in 2030 | USD 27,406.1 million |
| Growth rate | 23.1% (CAGR from 2022 to 2030) |
| Largest segment | Hemp |
| Fastest growing segment | Marijuana |
| Historical data | 2018 - 2021 |
| Base year | 2022 |
| Forecast period | 2023 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Hemp, Marijuana |
| Key market players worldwide | Canopy Growth Corp, Aurora Cannabis Inc, Tilray Brands Inc, The Cronos Group, OrganiGram Holdings Inc, Atlas Growers, CannTrust Holdings Inc, The Hydropothecary Corp, Cannabist Company Holdings Inc, Aurora Cannabis |
Other key industry trends
- In terms of revenue, Thailand accounted for 1.3% of the global cannabis cultivation market in 2022.
- Country-wise, South Africa is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China cannabis cultivation market is projected to lead the regional market in terms of revenue in 2030.
- China is the fastest growing regional market in Asia Pacific and is projected to reach USD 52,446.0 million by 2030.
Thailand is the first country in Southeast Asia to legalize cannabis for medical use; however, possession of cannabis remains illegal, and a hefty penalty is levied on the person when caught. The first facility for cultivating cannabis was opened in Bangkok in 2018.
The Thai government agencies strictly monitor & control production and cultivation activities and only licensed cultivators can grow medical cannabis. However, foreign companies are hoping that the Thai government may soon allow commercial cultivation of medical cannabis and, hence, are taking interest in the Thai cannabis market.
Moreover, many local players are applying for research permits and patents to gain a strong foothold in this new, potentially lucrative market. This is anticipated to drive growth in the country over the forecast period.
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Cannabis Cultivation Market Scope
Cannabis Cultivation Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|---|---|---|---|
| Aurora Cannabis Inc | View profile | 1,130 | 3498 63 Avenue, Leduc, AB, Canada, T9E 0G8 | www.auroramj.com |
| Canopy Growth Corp | View profile | 1,621 | 1 Hershey Drive, Smiths Falls, ON, Canada, K7A 0A8 | www.canopygrowth.com |
| Tilray Brands Inc | View profile | 1,600 | 265 Talbot Street West, Leamington, ON, Canada, N8H 5L4 | www.tilray.com |
| The Cronos Group | View profile | 1001-5000 | Kontich, Antwerpen, Belgium, Europe | cronos-groep.be/ |
| OrganiGram Holdings Inc | View profile | 987 | 145 King Street West, Suite 1400, Toronto, ON, Canada, M5H 1J8 | www.organigram.ca |
| Atlas Growers | View profile | 11-50 | Edmonton, Alberta, Canada, North America | www.atlasgrowers.com |
| CannTrust Holdings Inc | View profile | 576 | 3280 Langstaff Road, Unit 1, Building 1, Vaughan, ON, Canada, L4K 4Z8 | www.canntrust.ca |
| The Hydropothecary Corp | View profile | 101-250 | Gatineau, Quebec, Canada, North America | thehydropothecary.com/ |
| Cannabist Company Holdings Inc | View profile | 2,221 | 680 Fifth Avenue, 24th Floor, New York, NY, United States, 10019 | cannabistcompany.com |
| Aurora Cannabis | View profile | 1001-5000 | Edmonton, Alberta, Canada, North America | auroramj.com |
Thailand Cannabis Cultivation Market Outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to Cannabis Cultivation Market Outlook will help companies and investors design strategic landscapes.
Hemp was the largest segment with a revenue share of 78.2% in 2022.
Horizon Databook has segmented the Thailand cannabis cultivation market based on hemp, marijuana covering the revenue growth of each sub-segment from 2018 to 2030.
Thailand is the first country in Southeast Asia to legalize cannabis for medical use; however, possession of cannabis remains illegal, and a hefty penalty is levied on the person when caught. The first facility for cultivating cannabis was opened in Bangkok in 2018.
The Thai government agencies strictly monitor & control production and cultivation activities and only licensed cultivators can grow medical cannabis. However, foreign companies are hoping that the Thai government may soon allow commercial cultivation of medical cannabis and, hence, are taking interest in the Thai cannabis market.
Moreover, many local players are applying for research permits and patents to gain a strong foothold in this new, potentially lucrative market. This is anticipated to drive growth in the country over the forecast period.
- Thailand Cannabis Cultivation Market Biomass Outlook (Revenue, USD Million , 2018-2030)
- Hemp
- Marijuana
- Thailand Cannabis Cultivation Market Application Outlook (Revenue, USD Million , 2018-2030)
- Medical
- Adult Use
- Industrial
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Horizon Databook provides a detailed overview of country-level data and insights on the Thailand Cannabis Cultivation Market Outlook, including forecasts for subscribers. This country databook contains high-level insights into Thailand Cannabis Cultivation Market Outlook from 2018 to 2030, including revenue numbers, major trends, and company profiles.
Thailand Cannabis Cultivation Market, 2018-2030 (US$M)
Thailand cannabis cultivation market statistics, by biomass, 2018-2030 (US$M)
