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Advancing Ecosystem Business to Expand the Potential of Thailand's Hemp Industry Partnering to Promote Wellness and Sustainability to Meet Global Market Demands

The “Thai Industrial Hemp Trade Association (TiHTA)”, in collaboration with N.C.C. Exhibition Organizer Co., Ltd. (NEO), is pushing forward Thailand’s hemp industry to create new opportunities. They are also in talks with Japan to exchange knowledge and develop capabilities in the medical and fiber sectors. By strengthening partnerships and highlighting Thailand’s strengths in cultivation, they aim to develop areas and strains to support the hemp industry’s supply chain. The upcoming “Asia International Hemp Expo 2024” will serve as a platform to connect investors and hemp industry leaders, establishing a concrete business ecosystem.

Mr. Pornchai Padmindra, President of the Thai Industrial Hemp Trade Association (TIHTA), stated that the hemp industry is increasingly being driven towards the health sector, particularly in Health & Wellness. Advances in scientific research have led to the development of products that meet growing health trends. Hemp fibers, known for their durability, strength, and eco-friendliness, are becoming a sought-after material in the circular economy. Many countries recognize the potential for creating a hemp supply chain, and Thailand, with its favorable geography, stands out as an ideal location for cultivation. This presents a crucial opportunity for Thailand to build an international business network, creating a sustainable ecosystem for the future of the hemp industry.

Collaboration with Japan: A Market of Opportunities

TiHTA participated in the “1st Tokyo International Hemp Conference” in Japan, discussing cooperation and knowledge exchange between Thailand and Japan, a country advanced in hemp technology and innovation, particularly in the medical field. Japan has been continuously researching and developing medical cannabis products, with the health business sector valued at 9.939 billion THB (45 billion yen) in 2024, projected to grow to 22.75 billion THB (103 billion yen) by 2027.

Japan's cannabis and hemp industries are experiencing significant growth, supported by the government’s amendment to the **Cannabis Control Act**, allowing for medical cannabis use. This amendment, approved by Japan’s Cabinet on December 6, 2023, positions Japan as a model for controlled and appropriate usage, contributing to substantial growth in the medical sector over the past year. Japan also has extensive experience in using hemp fibers in both cultural and industrial applications, with advanced fiber processing technology that is in demand globally. Thailand, with its capacity to cultivate high-quality hemp fibers, can learn from Japan’s processing technology to create added value and new business opportunities.

Strengthening Partnerships and Expanding Hemp Markets

TiHTA, in collaboration with Suranaree University of Technology, has developed the TIHTA 1 and TIHTA 2 hemp strains, tailored to Thailand’s climate and geography. Additionally, partnerships are being formed both domestically and internationally to better understand the overall hemp market. Collaborations with the Cosmetics Association and Pharmacy Association are also increasing opportunities in the medical and beauty sectors, enhancing marketing channels for businesses involved in herbal, cosmetic, and future food products.

Mr. Surapol Utintu, Managing Director of N.C.C. Exhibition Organizer Co., Ltd. (NEO), said, "Over the past three years, NEO has partnered with TiHTA to promote the sustainable growth of the hemp industry. NEO is ready to be a platform connecting investors and businesses, using the “Asia International Hemp Expo 2024” as a stage to position Thailand as a leading source of quality hemp raw materials, including CBD and THC extracts, for food, pharmaceuticals, health products, cosmetics, and wellness services.

The “Asia International Hemp Expo 2024 (AIHE)” is designed to link and expand opportunities across the entire hemp ecosystem, focusing on three key areas:

1. Exhibition: The exhibition will showcase technology and products covering all aspects of the hemp industry, from cultivation to finished products. This includes a variety of seedlings, fertilizers, grow lights, greenhouse control systems, and relevant machinery, such as harvesting, processing, extraction, testing, and packaging, as well as certified finished products. The exhibition will also feature raw materials like fibers and extracts. This event will gather the most comprehensive range of technology, materials, and equipment for the hemp industry, with over 150 companies and around 40 trade associations and relevant government agencies participating.

The exhibitors participating in this event showcase their cutting-edge innol-grade quality using bioreactor systems to create optimal growing conditions; Saengvith Science Co., Ltd., featuring an innovative solution for rapid and accurate testing of cannabis and hemp flower quality, delivering results on key compounds within just 2 minutes; Hidden Valley Genetics, offering a diverse selection of over 20 hemp strains; Dr. CBD Company Limited, advancing hair care with CBD from hemp through a newly developed innovation in collaboration with the Department of Medical Sciences; and 42 DECEMBER Co., Ltd., presenting energy-efficient LED grow lights designed for indoor cultivation, mimicking sunlight with full-spectrum efficiency.

2. Networking and Forum: This platform provides an opportunity for buyers from across the region to meet and negotiate. As of the latest update, industrial hemp participants from 40 countries across various sectors, such as raw material sourcing, original equipment manufacturing (OEM) for export, environmental businesses, and health-focused businesses, have confirmed their participation. Investors seeking business opportunities in Thailand will also attend. Additionally, the event will announce the establishment of the “Asia International Hemp Federation”, with over 10 member countries. Business delegations from Japan and the U.S. will attend, and a Japanese Investor Day is scheduled for November 28, 2024.

3. Building a Foundation for Future Industry Opportunities: Under the concept ‘Hemp Inspires,’ the event aims to inspire future growth with hemp-based products. In collaboration with the “Design and Objects Association”, the exhibition will feature the design of daily-use products, such as furniture and lifestyle goods, to add value to hemp products. The target audience includes interior designers and businesses like hotels that prioritize low-carbon operations. Additionally, there will be a special area for raw material-producing farmers to meet buyers from both domestic and international industries. This will help farmers understand buyer requirements in terms of standarvations include: Stealth Garden Co., Ltd., introducing advanced technology to effectively enhance hemp root growth for optimal nutrient absorption; APA Industries Co., Ltd., showcasing the development of innovations for the production of key cannabis and hemp compounds at medicads, raw material quality, and demand volume. Importantly, this will facilitate matching supply with demand, ensuring that no part of the hemp plant is wasted and enabling competitive, sustainable pricing.

Admission to the event is limited to individuals aged 18 and above. Ticket prices are 500 THB for multi-day access and 300 THB for single-day entry, with free entry available until November 26. The Hemp Forum will take place on November 27-28, with ticket price at 8,000 THB. Book your seat now! For more information, please visit at www.aihexpo.com or www.asiahempexpo.com or Line@ AsiaHempExpo

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