GVR Report cover Thailand Legal Cannabis Market Size, Share & Trends Report

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

  • Report ID: GVR-4-68039-989-0
  • Number of Pages: 80
  • Format: Electronic (PDF)
  • Historical Range: 2018 - 2020
  • Industry: Healthcare

Report Overview

The Thailand legal cannabis market size was valued at USD 80.3 million in 2021 and is expected to grow at a compound annual growth rate (CAGR) of 58.4% from 2022 to 2030. The growth can be attributed to cannabis legalization and its rising usage for medical purposes. Cannabis compounds are highly effective for chronic pains and during cancer treatments, they help relieve pain, increase appetite, soothe anxiety, quell nausea, and suppress vomiting.

 Thailand legal cannabis market size, by source, 2020 - 2030 (USD Million)

Some of the most common conditions where cannabis is used are: for treating malignant or non-malignant tumors, musculoskeletal disorders such as weakness, spasm, pain or rigidity, and neuropsychiatric disorders. Some other instances where cannabis is used for treatment such asthma, HIV-AIDS, herpes zoster, hypercholesterolemia, hypertension, and others.

According to the Committee for Public Relations on Medical Cannabis of the Ministry of Public Health, in 2021, Thailand had about 800 medical marijuana clinics and Thai traditional medical marijuana clinics under the Ministry of Public Health. Furthermore, on March 2021, 64 clinics and 22 hospitals received medical marijuana licenses from the Food and Drug Administration. Thus, positively impacting the market growth.

In 2018, Thailand legalized cannabis for medical purposes and by June 2022, the government decriminalized the distribution, cultivation, consumption, and marketing of all the parts of the cannabis plant. Due to this decriminalization, about 4,200 prisoners were released. Since then, the Thai Food and Drug Administration has also removed the cannabis plant from the Category 5 narcotics list. However, under the Public Health Act, smoking cannabis in a public area can lead to three months of jail and a fine of USD ~800.

Although, cafes and restaurants are allowed to serve cannabis-infused drinks and food, only if the THC content is limited to 0.2%. Furthermore, to mark the new rule of allowing cannabis production and planning to use cannabis as a crash crop, on 8th May 2022, Thailand’s health minister “Anutin Charnvirakul” posted on its Facebook wall that the Thailand government will distribute 1 million free cannabis plants to households throughout the country, which started on June 9, 2022.

Growing government initiatives to boost the incorporation of cannabis into various industries further fuel industry growth. The authorities are exploring the ideas like a “cannabis sandbox” that will allow tourists to visit the country while allowing the consumption of cannabis for recreational activities in selected areas, this will open new opportunities for the food & beverages industries. Many key players are further exploring new therapies and products for expanding their market share. These factors are expected to boost growth.

A growing number of CBD-related R&D activities by government organizations, NGOs, private companies, and universities further drives the market growth. The growing healthcare sector within the country is one of the key factors that is increasing the usage of medical cannabis. The healthcare expenditure of Thailand is expected to grow to USD 50 billion by 2026 and the country is also the third most visited medical tourism destination. Thus, fueling the market growth.

Like other industries, the ongoing Covid-19 pandemic had negatively impacted the legal cannabis market. The graph of the legal cannabis industry in Thailand declined from 2019 to 2020, as due to lock down, most of the places were shut down and no industrial movements were taking place which hampered the market during that period. Most importantly, major supply chain disruptions in the cannabis industry and a decline in the research work related to CBD led to a decline in growth.

Source Insights

The hemp segment dominated the Thailand legal cannabis market 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 that fuel the segment’s growth. Industrial hemp is grown for its seed and fiber. Hemp seeds are highly used for the production of oil which can be further used in lamp oils, paint, varnishes, and ink. Hemp is also used for the production of ropes, Conestoga wagon covers, grain bags, and clothing.

On January 25, 2021, the Ministry of Public Health (MOPH) allowed commercial production and commercialization of hemp. However, the government agencies have limited its importation only within government bodies for research and medical use until January 2026. The Thai government is promoting the private sector to focus on hemp commercialization as it will boost the country’s economy.

However, marijuana is projected to have the fastest CAGR of 86.9% in the forecast period. The growth of this segment is attributed to the growing acceptance of marijuana by consumers and increasing awareness about the health benefits offered by marijuana. The growing healthcare sector, increasing investment in the R&D of marijuana, and growing awareness about the therapeutics of medical marijuana drive industry growth.

Furthermore, after the legalization of cannabis, various industrial sectors are infusing marijuana into their products like tea, soaps, toothpaste, and others. Increasing FDA approvals, development of the proper regulatory framework, and growing investment in this segment further propel the industry’s growth. Medical marijuana is highly used in the healthcare sector for treatment and research studies due to its therapeutic actions. The marijuana segment is further segmented into flowers and oil & tincture. Marijuana oil and tinctures are being extensively studied for numerous medical applications.

Derivative Insights

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 and scientist community. CBD is highly useful for treating epileptic seizures and for nausea in chemotherapy as it has lesser side effects than traditional medicines. Although there is no scientific evidence, CBD is considered to be useful for anxiety, Crohn’s disease, Parkinson’s disease, relieving pain, and other chronic conditions.

 Thailand legal cannabis market share, by derivative, 2021 (%)

Furthermore, CBD is highly incorporated into food products, especially dietary supplements and in the cosmetic industry. CBD is non-psychoactive and CBD oil highly used in the wellness industry as CBD oil reduces post-exercise inflammation and promotes muscle growth. It also possesses anti-inflammatory and anti-acne properties. These factors are expected to drive the growth of this segment.

However, the THC segment is expected to grow with the fastest CAGR of 61.4%. THC products can be useful for treating short-term sleeping problems and reducing sleep disturbance. THC is also used to reduce muscle spasms and chronic pains. Growing initiatives by the government to increase the adoption rate of THC by various industries is one of the key factors boosting growth.

Application Insights

In 2021, the industrial segment held the largest share of 81.9%. The growing adoption of cannabis by various industries boosts the growth. The growing incorporation of CBD into the food and beverages sector boosts the market growth. In May 2022, Charoen Pokphand Foods PLC, Charoen Pokphand Produce Co., Ltd., and Gunkul Engineering PLC came into a partnership to develop cannabis-infused food and beverages.

The increasing focus of alcohol companies on CBD and rising R&D activities for launching new products are driving the segment growth. CBD is also largely adopted by the wellness and cosmetic industry due to its anti-inflammatory and anti-oxidizing properties. CBD is also being used in various industries such as agriculture, paper, packaging, and various other industries. Thus, promoting the segment’s growth.

The medical segment is also projected to grow at a lucrative rate. According to various studies, medical CBD is safe for treating patients with chronic pain and neuropathic pain. The rising percentage of clinical trials with marijuana to treat chronic pain and neuropathic is one of the key factors, which leads to the rising usage of cannabis in pain management and thus impacts the industry positively. Furthermore, growing social acceptance of marijuana, increase in disposable income, rising awareness related to the benefits of the product, and rise in the popularity of therapeutic properties of cannabis within the country accelerate the industry growth.

Key Companies & Market Share Insight

With the legalization of cannabis production, various domestic companies have planned to enter the CBD market. For instance, in October 2021, Sri Trang Agro Industry announced that its subsidiary Sri Trang Rubber and Plantation has received a license to grow hemp in Thailand, with this company, will expand its portfolio into the CBD market depending on the demands.

The key participants in the Thailand legal cannabis market are devising various strategic initiatives to expand their business footprint and gain a competitive edge in the market. Key players are focusing on strategic initiatives such as mergers & acquisitions, collaborations, partnerships, funding & investments, and innovative product developments & launches to expand their expertise & product portfolio. Some prominent players in the Thailand legal cannabis market include:

  • PharmaHemp

  • MediPharm Labs, Inc.

  • Cresco Labs

  • Elixinol Thailand Limited

  • Tilray

  • Extractas

  • BOL Pharma

  • Canopy Growth Corporation

  • THC Thailand Group Ltd.

Recent Developments

  • In May 2023, Tilray Brands, Inc., a leading global cannabis and consumer packaged goods company, launched a new infused tea collection by cannabis wellness brand, Solei, marking the brand’s first cannabis infused drink line.

  • In March 2022, Cresco Labs, a cannabis producer from Illinois, agreed to acquire New York-based Columbia Care. On approval of the purchase, Cresco will own over 100 dispensaries spread across 18 states, making it one of the nation's largest cannabis manufacturers and retailers.

Thailand Legal Cannabis Market Report Scope

Report Attribute


The market size value in 2022

USD 242.8 million

The revenue forecast in 2030

USD 9.6 billion

Growth rate

CAGR of 58.4% from 2022 to 2030

The base year for estimation


Actual estimates/Historical data

2018 - 2020

Forecast period

2022 - 2030

Quantitative units

Revenue in USD million and CAGR from 2022 to 2030

Report coverage

Revenue forecast, company share, competitive landscape, growth factors, and trends

Segment Covered

Source, derivatives, end-use

Key companies profiled

PharmaHemp; MediPharm Labs, Inc.; Cresco Labs; Elixinol Thailand Limited; Tilray; Extractas; BOL Pharma; Canopy Growth Corporation; THC Thailand Group Ltd.

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Thailand Legal Cannabis Market Segmentation

This report forecasts revenue growth at the country level and provides an analysis of the latest industry trends in each of the subsegments from 2018 to 2030. For this study, Grand View Research, Inc. has segmented the Thailand legal cannabis report based on derivative, source, and end-use:

Thailand Legal Cannabis Market Segmentation

  • Source Outlook (Revenue, USD Million, 2018 - 2030)

    • Marijuana

      • Flowers

      • Oil And Tinctures

    • Hemp

      • Hemp CBD

      • Supplements

      • Industrial Hemp

  • Derivative Outlook (Revenue, USD Million, 2018 - 2030)

    • CBD

    • THC

    • Others

  • End-use Outlook (Revenue, USD Million, 2018 - 2030)

    • Medical Use

      • Cancer

      • Chronic Pain

      • Depression And Anxiety

      • Arthritis

      • Diabetes

      • Glaucoma

      • Migraines

      • Epilepsy

      • Multiple Sclerosis

      • AIDS

      • Amyotrophic Lateral Sclerosis

      • Alzheimer’s Disease

      • Post-traumatic Stress Disorder (PTSD)

      • Parkinson's Disease

      • Tourette Syndrome

      • Others

    • Recreational Use

    • Industrial Use

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