Since the government decriminalized marijuana, it has been used to create addictive substances. The hemp-marijuana market has gained a lot of traction. high demand and numerous advantages, particularly medical Consequently, both large and small firms react to this tendency. Enter the arena to compete for a piece of this new cash crop.
1. The value of the global cannabis market is likely to increase. The Thai marijuana market has not yet been extremely profitable. However, if you look at the market value as reported in The Global Cannabis Report by Prohibition Partners, it is predicted that the global cannabis market will continue to grow and be worth more than $103 billion by 2024, with 60% of that amount going toward the medical marijuana and 40% going toward recreational marijuana.
2. In addition to its use for medical purposes, cannabis is used in a variety of sectors. Textile manufacturers can also employ hemp fibers. Additionally, it has a wide range of commercial applications, including the manufacture of paper and pulp using hemp fibers. production of biocomposite and thermal insulation for the automotive industry Creating fabrics for use in other items is also considered.
Where are the investment opportunities?
Entrepreneurs who recognize prospects and wish to invest in this kind of business should thoroughly research the rules and requirements. To help the business, there is a business design from upstream to downstream. Patanasin Nomura Securities is split into three sections.
Upstream, importing seeds and planting, which requires prior permission.
Midstream, extraction for use in production
Downstream, product distribution such as medical business, beverages, cosmetics, massage compress, animal feed, and dietary supplements. which is the group with the largest number of players in the market.