CBD nutraceuticals market emerging in Thailand and globally
Press Release
Thailand’s legalization of cannabis makes it the region’s leader and a pioneer for cannabis liberalization. According to the latest figures from Prohibition Partners’ recently released Asian Cannabis Report: 2nd Edition, medical and non-medical cannabis sales in Asia could skyrocket to more than 10 times their current size by 2026 to an estimated $140 million. Thailand is well-poised to strengthen its cannabis agricultural and manufacturing capabilities while expanding its ecosystem for cannabis-related pharmaceuticals, nutraceuticals, cosmeceuticals, food, and drinks.
Thai companies such as Eastern Spectrum Group (ESG) and Bloom are expanding the Thailand cannabis market while promoting consumer awareness around CBD applications.
Eastern Spectrum Group’s products are driven by extensive research at each stage of the supply chain, from cultivation through extraction, to guarantee improved and innovative CBD solutions. ESG’s mechanized cultivation methods and medical-grade extraction facility allow it to maintain quality and consistency throughout the entire supply chain.
Bloom’s CBD and cannabis online marketplace was founded by an experienced team of driven entrepreneurs with a passion for the medicinal benefits of cannabis, with the mission to build a trustworthy cannabis online store with quality products, grow the local industry, and build the profile of healthy cannabis usage in Thailand. The cannabis in Bloom’s products all comes within the borders of Thailand. Using high-quality CBD isolate from ESG, THC-free Relief 3000mg available on Bloom is the strongest and purest CBD oil in the Thai market.
Currently, the top-growing cannabis product categories in Bloom’s marketplace are:
- CBD Oil – 30% month-on-month since July 2022
- Flowers / Buds
- Chanabis (Tea)
Leveraging Thailand CBD market opportunities and its expertise and resources, ESG is expanding upon its B2B sales of CBD – moving into the consumer space with the launch of its Hemppu line of CBD nutraceuticals. Its first product to be launched is an anti-acne serum that is an antioxidant, skin protector, and moisturizer.
ResearchandMarkets.com reports the global CBD nutraceuticals market is driven by increasing consumer preference for plant-based supplements; growing awareness about the medical benefits of cannabidiol; increasing standard of living; and legalization of different CBD products. A high rate of adoption across medical facilities will also help propel market growth.
Cannabidiol (CBD) has been proven to exert universal anti-inflammatory properties, including for the treatment of the common inflammatory skin disease acne. Results of a recent study indicated that CBD could inhibit inflammation and reduce sebum oil production, which is known to be the main driver for acne growth—making it a novel strategy for acne treatment. CBD’s efficacy in treating acne is supported by other studies, such as one in the Journal of Clinical Investigation that concludes, “Collectively, our findings suggest that, due to the combined lipostatic, antiproliferative, and anti-inflammatory effects, CBD has potential as a promising therapeutic agent for the treatment of acne vulgaris.”
Eastern Spectrum Group can be visited at Booth D09 and Bloom at Booth A03 during the Asia International Hemp Expo 2022, from November 30 to December 3 at the Queen Sirikit National Convention Center.
