Thai Hemp Industry Sets Target on Asian and European Markets to Expand Opportunities for Wellness Sector
Thai Hemp Industry Sets Target on Asian and European Markets to Expand Opportunities for Wellness Sector, Organizes “Asia International Hemp Expo & Forum 2023”
The Thai Industrial Hemp Trade Association (TIHTA) is fast-tracking the development of Thai standards within the hemp industry to a global standard, and is preparing to explore new opportunities in the Asian and European markets, particularly in the medical and wellness sectors, with a clear focus on long-term growth. To achieve this, the association has been tightly partnering with N.C.C. Exhibition Organizer Co., Ltd. (NEO), to stage the second edition of “Asia International Hemp Expo & Forum” during 22–25 November this year at Queen Sirikit National Convention Center, Bangkok, Thailand. As the main platform for international hemp exhibition, forums and business negotiations, this expo is expected that over 10,000 participants from around the world will attend.
Mr. Pornchai Padmindra, President of the Thai Industrial Hemp Trade Association, revealed that opportunities in the hemp industry will continue to expand from 2024 onwards. This growth is particularly notable in the medical and health sectors, driven by the global wellness economy trend. The industry recognizes the economic value of hemp due to its versatile properties, which can be used in over 20,000 products across various sectors. This aligns with the principles of the bio-economy, especially in European and Asian countries that are investing in continuous research and development. This creates opportunities for industrial development and new alternative products.
Furthermore, many countries have been easing laws and adjusting regulations to focus on the medical use of hemp for the promotion of its use in public health. They are encouraging the distribution of hemp flower, hemp extracts, hemp seeds, and supporting various industries such as food and beverages, pharmaceuticals, dietary supplements, medicine, textiles, as well as construction materials.
"The world regions currently interested in hemp are Europe, such as Germany, where the German government has been pushing for increased medical usage, benefitting the medical industry. In Asia, countries like Japan have been advocating for the proper distribution of CBD products in compliance with the law, controlling the level of THC to be within specified limits. The Japanese market has shown significant interest, with over 200 CBD product brands now available in the Japanese market. Given these examples, the European and Asian markets present excellent opportunities for the Thai hemp industry. Thailand, in particular, aims to focus on using hemp for medical purposes, as indicated by data from the Ministry of Public Health’s Medical Cannabis Institute. In 2022, there were 13,389 bottles of THC, 9,531 bottles of CBD, and 16,021 bottles of THC:CBD distributed. In 2023 from the month of January to October, 15,000 bottles of THC, 12,000 bottles of CBD, and 20,000 bottles of THC:CBD were reportedly put to use. This reflects continuous growth in the use of hemp for health purposes,” Mr. Pornchai said.
Mr. Surapol Utintu, Chief Executive Officer of N.C.C. Exhibition Organizer Co., Ltd. (NEO), stated, “ ‘The Asia International Hemp Expo & Forum 2023’ is the only event dedicated to the hemp industry in Asia, and is one of the highlights in the ‘World HEMP Event Calendar,’ eagerly awaited by industry professionals from around the world. We are focusing on organizing the event for hemp entrepreneurs at the industrial level, covering product categories such as fibre-based products and extracts exclusively for medical and health purposes. This event will help establish Thailand as the regional hub of the hemp industry, from high-quality raw material production, product development, to trade negotiation platform. It involves every stakeholder from farmers, cultivation farms, product manufacturers, to distributors and global investors, with over 10,000 participants expected.”
The event comprises two essential parts: the Asia International Hemp Expo 2023 exhibition, which showcases innovations to leverage standards and innovations in all industrial processes, from cultivation, raw material management, to cost management. It caters 14 industry groups, including food and pharmaceuticals, beverages, cosmetics, fashion, furniture, construction materials, automotive parts, biofuels, medicines, products for pets, as well as health tourism. The highlight of this event is the ‘Hemp for Living’ Zone which presents products designed for everyday use, produced from hemp plants by renowned Thai designers. There will also be a business negotiation platform and investment matchmaking among entrepreneurs from both domestic and foreign industries (networking sessions). The previous event received considerable interests, attracting participants from over 80 countries worldwide.
The Asia International Hemp Forum 2023, another key part of the event, brings together more than 40 industry experts from 15 countries to participate in knowledge-based discussions on the industry’s trending topics under the theme of ‘Hemp for Change.’ These discussions cover various aspects of the regional and global hemp industry, including regulations and measures in each country, product directions, hemp innovations, market limitations for CBD and THC products, properties of hemp plants, and their role in carbon offsetting.
Additionally, the event features a Hemp Excursion program, offering educational tours of hemp cultivation and production sites in various regions of Thailand. This aims to showcase standards, technological advancement, and the readiness of Thailand’s industrial sector, fostering confidence in business negotiations and investments while promoting income distribution to drive Thailand’s tourism sector forward to another milestone.
In summary, the “Asia International Hemp Expo & Forum 2023” during 22–25 November this year at Queen Sirikit National Convention Center, Bangkok, Thailand is the most comprehensive event in the hemp industry, covering all aspects of innovation, knowledge, and networking. It reflects Thailand’s positioning as the central hub of the Asian hemp industry while elevating Thailand’s standards to a regional level. Pre-registration is now open until 17 November, for free entry worth 500 baht, please go to https://asiahempexpo.eventpassinsight.co/en. You can also find details of product highlights and the latest forum topics at www.asiahempexpo.com.