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Friday, September 29, 2023

Thailand Gears Up to Host Asia International Hemp Expo 2023: Showcasing Booming Cannabis and Hemp Industries

In a groundbreaking move following the legalization of cannabis and hemp, Thailand is set to host the Asia International Hemp Expo 2023 this November. This prestigious event will serve as a platform to showcase a wide array of products and innovations stemming from these industries.

Scheduled to unfold from November 22 to 25, the Asia International Hemp Expo 2023 will take place at the esteemed Queen Sirikit National Convention Center in the heart of Bangkok. This grand exposition will bring together leaders and pioneers from various sectors, including the medical, food and beverage, nutritional supplement, cosmetics, automotive, construction, and pet industries. Notably, it will also serve as a testament to Thailand’s burgeoning capabilities in hemp and cannabis production.

The event is not only about products but also knowledge exchange. Distinguished panels of experts from 12 different countries will conduct seminars covering every facet of the cannabis and hemp industries. Additionally, the expo will facilitate trade negotiations between Thai businesses and foreign investors, offering lucrative opportunities for collaboration and growth.

It is anticipated that the Asia International Hemp Expo 2023 will draw an impressive crowd of approximately 10,000 participants from across the globe. This international gathering is projected to generate a staggering cash flow of around 8 billion baht, reinforcing Thailand’s position as a pivotal player in this burgeoning sector.

Mr. Pornchai Padmindra, President of the Thai Industrial Hemp Trade Association, commented on the remarkable growth witnessed by businesses and industries linked to hemp and cannabis. He noted that the number of registered cannabis and hemp cultivators has now reached an impressive 1.1 million in Thailand.

The Food and Drug Administration also provided insights into the remarkable growth of this sector, revealing that there are approximately 1,000 registered products related to hemp and cannabis. An astounding 77% of these products belong to the cosmetics industry, followed by food and nutritional supplements at 19%, and herbal products at 4%.

In a clear indication of the industry’s potential, the market value for hemp and cannabis in Thailand soared to 8.48 billion baht last year. Astoundingly, projections indicate that this figure is set to catapult to a staggering 73 billion baht by the year 2027, making it one of the most promising sectors in the country’s economic landscape.

As the Asia International Hemp Expo 2023 approaches, anticipation and excitement are mounting, with this landmark event poised to reshape the future of hemp and cannabis industries not just in Thailand but throughout the region.

Author: phacharaphonk

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