Thailand Legal Cannabis Market Summary

The Thailand legal cannabis market size was estimated at USD 1.31 billion in 2024 and is projected to expand at a compound annual growth rate (CAGR) of 33.0% from 2025 to 2030. The rapid market growth can be primarily attributed to the legalization of cannabis, which has paved the way for new commercial opportunities. Increasing public awareness of the therapeutic properties of cannabis-based products is also playing a significant role in driving market demand. The rising use of cannabis for both recreational and medical applications further boosts the growth prospects for the legal cannabis industry in Thailand.

Cannabis has shown promising results in treating neurological conditions such as epilepsy, depression, and anxiety. For example, according to Bumrungrad International Hospital, around 700,000 individuals in Thailand are estimated to suffer from epilepsy, highlighting the potential patient base that can benefit from cannabis-based therapies. As medical professionals and consumers become more informed about the clinical effectiveness of cannabis in managing neurological and psychiatric disorders, the integration of cannabis into mainstream treatment regimens is gaining traction across the healthcare landscape.

In addition to medical applications, the demand for cannabidiol (CBD)-infused consumer goods has increased significantly. Various CBD-based products such as beauty items, cannabis oil, drinks, gummies, and capsules are witnessing rising popularity among consumers. CBD can be consumed in multiple ways, including smoking, vaping, ingestion, and transdermal application. It is also extensively used in developing both medical products and personal care items. The legalization of cannabis has opened doors for a broad range of end-use industries to innovate and diversify their product portfolios.

An illustrative example of product innovation came in April 2023, when Sappe Public Company Limited (SAPPE), a key Thai producer of functional beverages, launched a line of CBD-infused waters under the “SAPPE Keaf” brand. The product was released in two flavor variants: CBD Water Vitamin B Complex with a peach flavor aimed at boosting focus through ingredients like vitamins B5, B3, B6, and B12, and a honey-yuzu flavored CBD Water Chamomile designed to promote relaxation with a pleasant sour-sweet taste. This wave of new product development is expected to significantly contribute to overall market expansion in the coming years.

Key Market Trends & Insights

  • Based on the source of cannabis, the hemp segment led the market with the highest revenue share of 61.9% in 2024. This dominance is mainly due to the legal status of hemp and the growing recognition of its rich CBD content. Hemp-derived extracts are increasingly being incorporated into formulations for cosmetics, personal care products, nutraceuticals, and pharmaceutical goods, which has led to strong demand across diverse industry verticals.
  • By cultivation method, the indoor cultivation segment accounted for the largest revenue share of 54.7% in 2024 and is anticipated to witness the fastest growth over the forecast period. Indoor cultivation involves growing cannabis plants within enclosed environments such as tents, rooms, or controlled climate spaces designed to replicate optimal natural conditions. This method allows for enhanced control over environmental variables, ultimately improving yield quality and consistency, which are crucial in meeting market and regulatory standards.
  • In terms of cannabis derivatives, the CBD segment emerged as the dominant category, capturing a substantial market share of 79.6% in 2024. The segment is also expected to record the fastest CAGR during the forecast period. The increased incorporation of CBD into nutraceutical products is a key factor behind this growth. Numerous health-focused companies are integrating CBD into their product lines, including dietary supplements and functional foods, and offering them in diverse and consumer-friendly packaging formats, which is contributing to greater product accessibility and market reach.
  • The medical use segment led the market in 2024 with a revenue share of 53.9%. Currently, cannabis is widely adopted for the treatment of various chronic conditions such as persistent pain, anxiety, and sleep-related disorders. Furthermore, the rising prevalence of cancer in Thailand has fueled the adoption of medical marijuana for palliative care and symptom management. As demand for cannabis-based medical products continues to surge, particularly among patients seeking alternative or complementary therapies, the segment is expected to maintain its leading position.

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Market Size & Forecast

  • 2024 Market Size: USD 1.31 billion
  • 2030 Projected Market Size: USD 7.10 billion
  • CAGR (2025 - 2030): 33.0%

Key Companies & Market Share Insights

Key companies in the market are adopting various strategies, including mergers & acquisition, partnerships & collaborations, and new product launches, to increase their market share and strengthen their position in the market. For instance, in August 2023, Go High Thai, a leading Thailand cannabis dispensary website, launched a comprehensive directory listing all legal cannabis dispensaries in Thailand. Some of the key companies operating in the market include PharmaHemp, Tilray Brands, Canopy Growth Corporation, Medipharm Labs, Cresco Labs, and Dr. CBD Innovation Center.

Key Players

  • PharmaHemp
  • Tilray Brands
  • Canopy Growth Corporation
  • Medipharm Labs
  • Cresco Labs
  • Extractas
  • BOL Pharma
  • Elixinol
  • Dr. CBD Innovation Center
  • SAPPE
  • Osotspa Public Company Limited

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Conclusion

The Thailand legal cannabis market is poised for robust growth, driven by legalization, growing awareness of cannabis's therapeutic value, and expanding product innovation. With increasing demand across medical, wellness, and recreational domains, the market is seeing rapid developments in CBD-infused consumer goods, clinical applications, and cultivation technologies. Dominance of the hemp, indoor cultivation, and medical use segments underscores the country’s growing infrastructure for cannabis production and application. With companies introducing innovative offerings and supportive policy frameworks in place, the market is expected to flourish, providing ample opportunities for both domestic and international stakeholders across a wide array of sectors.