The cannabis and hemp industry in Thailand is projected to grow steadily at 15% annually, reaching an estimated market value of ฿43 billion (approx. USD 1.2 billion) by 2025. This surge opens up major investment and business opportunities for local farmers, SMEs, and international partners.
Legalization Drives Economic Potential
Thailand became the first country in Asia to decriminalize cannabis in June 2022, with a vision to revitalize key sectors like agriculture, wellness, and tourism. While regulatory frameworks are still being refined, the economic benefits are already evident, with cannabis poised to become a strategic economic crop.
“Cannabis has the potential to become a key economic crop, generating strong income for growers and small businesses,” said Thanavath Phonvichai, President of the University of the Thai Chamber of Commerce.
Despite public concerns about potential misuse, the majority of Thais support legalization due to its economic advantages, especially in rural communities.
Market Insights & Public Perception
According to a nationwide survey of 1,215 participants, conducted from July 5–15:
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78% of respondents have never used cannabis.
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64% still view cannabis as a “harmful drug.”
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42% see it as a potential food ingredient.
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35% consider it useful as herbal medicine.
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25% recognize it as a new economic crop.
These insights indicate a growing shift in public perception, fueled by awareness of CBD health benefits, organic farming opportunities, and export potential.
Bicaro Holding’s Role in Thailand’s Hemp Future
As a leading force in sustainable cannabis and hemp development, Bicaro Holding supports Thailand’s transition into a globally recognized hemp producer. Through organic farming, eco-tourism, and investment-ready models, we empower local communities while attracting responsible global investors.
Read also: Thailand’s Hemp Market in 2025: Growth, Investment, and Global Potential