Thailand Ranked Third as World’s Leading Cannabis Industry
2 min read
Thailand is dominate the world of cannabis industry!, Statista Market Insights reported cannabis sales are forecast to surge by around 80% in Thailand between 2024 and 2028, increasing from $800 million to $1.4 billion. . This is according to estimates calculated on July 2023 that based on the 11 countries in which cannabis was fully or partially legalized in around the world.
Thailand is already ranked as 3rd the biggest cannabis market worldwide. It is forecast to expand to become one of the largest markets in Asia which beats the marijuana capital country such as Netherlands (Amsterdam) and countries that have legalized marijuana for a long time including Spain and Uruguay. It’s seen as a triumph in advancing the Thai cannabis sector’s global recognition following USA and Canada
The global legal cannabis market is currently valued at about 910,000 million baht, the majority of which is in the United States (about 707,000 million baht), followed by Canada (valued at 112,000 million baht) and Thailand (valued at 28,000 million baht), in third place. According to projections, the value of the Thai cannabis industry is expected to reach 49,000 million baht by 2028, signifying a growth of up to 80% during that time. While cannabis markets in the Netherlands and Spain are valued at 7,000 million and 17,500 million baht, respectively.
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So this is an important question given that Thai cannabis has the potential to dominate Asia or maybe the globe in the future, While political games are about to extinguish the future of marijuana and the economic opportunities. This government has to make further decisions that this opportunity could based primarily on the interests of the people or the interests of politicians.
