Currently, hemp is worth up to 200 billion baht in economic growth, or an increase of more than 700%, while the global market value in 2022 is up to 4.75 billion US dollars. And it is estimated that by 2027, global hemp products will reach US$18.6 billion. With an average continuous growth rate of 21.6% per year and tends to increase steadily
The critical ingredient that has made hemp catch the eye of the world is the properties of CBD (CBD shop), which is one of the health benefits of hemp extract found in hemp. Psoriasis as well
Assoc. Prof. Dr Weerachai Phutthawong or Ajarn Od, consultant of WP Science Company Limited (WP Science) and chemical researcher, informed that hemp is one of the economic crops that can bring the components of the plant. It can be extended into many products: human and animal food, cosmetics, beverages, textiles, medicine and various appliances. In foreign countries like the United States, Europe and Japan, hemp has been used for over 20 years.
Expand the beauty market, Increase the income of farmers
In Thailand, the government has a policy to unlock hemp in 2021, making the hemp business receive much attention. And the invention of more products containing hemp extracts such as CBD.
because, in addition to the properties that have been used medically, It is also outstanding in the cosmetic industry as an anti-oxidant. Preventing Bacteria, the Cause of Acne and protecting the skin from pollution and sunlight helps increase collagen and restore the skin to be smooth. This makes cosmetics containing CBD a bestseller all over the world.
“With the outstanding properties of CBD, it is the origin of the invention of skin care products for acne prone skin with a mixture of pure CBD extract 99.98% up to 0.999 % under the name Budelone Pibu CBD Acne. Aqua Mask Gel, which is a new product. In the group of highest CBD users and also the first to use the maximum full CBD, the law requires no more than 1%, so we are confident that it is the first and only one in Thailand that can produce CBD in the amount High, where the price of CBD in Thailand is as high as 300,000 – 1,000,000 baht/kg depending on purity.”
Researchers specializing in chemicals Additional information that the CBD shop in the ingredients above have been certified GHPs/HACCP for hemp extracts and international standards (GLOBAL GAP) for cultivation, which Budelone is a product that promotes and generates income for Thai farmers.
Pushing cannabis research to cosmetic products, aiming to increase sales
Currently, WP Science has contact farming covering an area of more than 3,000 rai in 6 provinces, namely Lamphun, Sakon Nakhon, Sisaket, Chonburi, Surat Thani and Nakhon Pathom, where one rai can grow 1,000 hemp plants and 99% CBD Isolate can be extracted in the amount of 54 kg/year. It has an average price of 100,000 baht/kg, depending on the rate. The price in each period makes hemp farmers have an average income of at least 5,400,000 baht/year/rai.
“In 2025, we set a target of making money from CBD products of 15,000 million baht from 5 target groups, including cosmetics, beverages, medicines, human food and animal feed. By exporting to more than 53 countries around the world As the demand for CBD increases, this is a great opportunity to generate income for both business owners and hemp farmers,” said Assoc. Prof. Dr Weerachai.
From past research to the present, we can assure you that CBD extracts will help drive hemp into an economic crop that can bring enormous income into the country. Producing CBD shop on our own is an advantage that we can control the quality and influential consumption Consumers will get the most benefit from using products containing concentrated CBD at a low price.