Nov 6, 2022
When it comes to strategic international markets for the cannabis and hemp industries, Asia has been one of the least talked about regions. We believe the region will play a key role in the growth of the global cannabis and hemp industries and expect to see more countries focus on this market in the coming years.
In 2020, Thailand became the first country in Asia to decriminalize the production and use of medical cannabis. The decriminalization of cannabis comes after cannabis was removed from the list of illegal drugs (according to Thailand’s Narcotics Law) and we are favorable on how the industry has recently advanced.
The Asian cannabis market is in its infancy and we believe that Thailand represents an attractive long-term opportunity. Only a few companies have announced plans to capitalize on Thailand. A select number of these companies are executing on a plan to capture market share and we want to highlight a business that has made meaningful process.
From a population standpoint, Asia is the largest continent in the world and we are bullish on the long-term opportunity for the cannabis industry in the region. Although the move by Thailand represents a major step forward, the government did not provide much clarity on the use of recreational cannabis and we expect to learn more in the coming months.
Asia is a market that we have been excited about and believe that the opportunity is much less saturated when compared to North America and Europe. Very few countries in Asia have legalized some form of cannabis (CBD or medical cannabis) and we expect to see new markets open in the near future.
According to Prohibition Partners, Asia’s cannabis market is estimated to be worth more than US$5.8 billion by 2024. We are focused on identifying companies that could benefit from the growth of the Asian cannabis industry and are especially bullish on the opportunity in Thailand.
https://technical420.com/cannabis-article/are-you-aware-of-this-southeastern-asian-cannabis-market/#
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