Thailand Legal Marijuana Market Size & Outlook, 2023-2030
Thailand legal marijuana market, 2018-2030 (US$M)
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Thailand legal marijuana market highlights
- The Thailand legal marijuana market generated a revenue of USD 89.5 million in 2023 and is expected to reach USD 5,710.3 million by 2030.
- The Thailand market is expected to grow at a CAGR of 81.1% from 2024 to 2030.
- In terms of segment, medical use was the largest revenue generating application in 2023.
- Adult Use is the most lucrative application segment registering the fastest growth during the forecast period.
Legal marijuana market data book summary
| Market revenue in 2023 | USD 89.5 million |
| Market revenue in 2030 | USD 5,710.3 million |
| Growth rate | 81.1% (CAGR from 2023 to 2030) |
| Largest segment | Medical use |
| Fastest growing segment | Adult Use |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Medical Use, Adult Use |
| Key market players worldwide | Canopy Growth Corp, Aurora Cannabis Inc, Tilray Brands Inc, MediPharm Labs Corp, The Cronos Group, Wayland Group Corp, OrganiGram Holdings Inc, Lexaria Bioscience Corp, GW Pharmaceuticals |
Other key industry trends
- In terms of revenue, Thailand accounted for 0.4% of the global legal marijuana market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, Thailand legal marijuana 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 2,934.9 million by 2030.
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Legal Marijuana Market Scope
Legal Marijuana Market Companies
| Name | Profile | # Employees | HQ | Website |
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Thailand legal marijuana 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 legal marijuana market will help companies and investors design strategic landscapes.
Medical use was the largest segment with a revenue share of 96.42% in 2023. Horizon Databook has segmented the Thailand legal marijuana market based on medical use, adult use covering the revenue growth of each sub-segment from 2018 to 2030.
Thailand legalized medical marijuana consumption back in 2018 and was one of the first South-East Asian country to do so. As per the legalization guidelines only government approved facilities would be permitted to cultivate cannabis.
This legalization reform was expected to boost the pharmaceutical. Competitiveness in Thailand and promote opening of cannabis dispensaries and promote medical cannabis tourism.
Since February 2019, participation of foreigners in the medical marijuana trade is restricted for the first five years promoting local players to take up production and trade licensing.
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Target buyers of Thailand legal marijuana market databook
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Our clientele includes a mix of legal marijuana market companies, investment firms, advisory firms & academic institutions.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of country-level data and insights on the Thailand legal marijuana market , including forecasts for subscribers. This country databook contains high-level insights into Thailand legal marijuana market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Thailand legal marijuana market size, by application, 2018-2030 (US$M)
Thailand Legal Marijuana Market Outlook Share, 2023 & 2030 (US$M)
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