Thailand Emerging As a Frontier of Cannabis Applications in Asia

Thailand is emerging as the leading market landscape of cannabis in Asia, and thus, emphasises the continent’s fame critically.

FREMONT, CA:Cannabis, previously known for its outdated and harmful drug control policies, is undergoing a transition with more sensible, supportive, and economically sound policies that will likely favour its re-liberalisation in Asia. Moreover, the increased health and financial benefits of legalising cannabis in North America have likely instigated Asia to adopt the same for reliable growth in varied sectors, be it medicine or the economy. Hence, the prohibition of cannabis is no longer a politically justifiable position, considering the advantages it could critically proffer to a nation’s economy.

As a result, industry innovators predict that total sales of medical and non-medical cannabis in Asia, which are currently valued at up to 14 million USD, will skyrocket to nearly 140 million USD in the coming years. Along with this, the overall value of domestic production in the export market is likely to rise as a result of effective competition from international suppliers.

Despite the fact that cannabis use is increasing across Asia, Thailand has emerged as a pioneering nation at the forefront of cannabis liberalisation in South East Asia. With the decriminalisation of medical cannabis in 2018, the industry has taken another step forward by legalising cannabis plant parts, allowing for easier commercialization. As a result, Thai residents are registering and growing cannabis at home for medical purposes, or as ingredients, using the Plook Ganja mobile application.

As a result of the country's extensive legal grey market and the domain's rapid development of legislation, Thailand is emerging as a prime example of various Asian nations in the exploration of the adult-use cannabis sector in Asia. However, dealing with the legal grey market and illicit market requires distinct consideration while integrating with the increased possibility of legacy growers who are primarily dependent on production. As a result, the Ministry of Public Health issued a statement stating that, despite temporarily discouraging recreational use of cannabis, its medical and industrial applications have grown significantly in recent years, and it is expected that they will grow even more in the future.

Thailand’s medical cannabis landscape is facing a major outgrowth based on two likely bases: modern medicine and Thai traditional medicine. While the modern criterion focuses on isolating or tincturing CBD (Cannabidiol) and THC (Tetrahydrocannabinol) for the treatment of various conditions, Cannabis Thai traditional medicine combines the cannabis or CBD parts with other herbs or natural oils and, thus, has been a crucial part of Thai history for centuries.      

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