Thailand Cannabis Cultivation Market Size & Outlook
Thailand cannabis cultivation market, 2018-2030 (US$M)
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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.
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Cannabis Cultivation Market Scope
Cannabis Cultivation Market Companies
| Name | Profile | # Employees | HQ | Website |
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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 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.
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Horizon Databook provides a detailed overview of country-level data and insights on the Thailand cannabis cultivation market , including forecasts for subscribers. This country databook contains high-level insights into Thailand cannabis cultivation market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Thailand cannabis cultivation market size, by biomass, 2018-2030 (US$M)
Thailand Cannabis Cultivation Market Outlook Share, 2022 & 2030 (US$M)
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