Are Money and Volume the Same Market in Thai Cannabis?
No. One channel holds most of the money and a different channel holds most of the volume, and treating them as the same market produces an incomplete picture either way.
One channel in this market holds the money. Another holds the volume. Most reports pick one of these and quietly call it the market. The two are not interchangeable.
Why Does Measuring Only Value or Only Volume Give an Incomplete Picture?
If you measure only value, you will underestimate how many grams and how many consumers are genuinely in play, and you will misjudge demand. If you measure only volume, you will misread where the margin actually sits and who is really making money.
Where Does the Real Character of This Market Actually Live?
The real character of this market lives in the relationship between value and volume, not in either one alone. How the money and the grams are split across the two channels is what tells you where it is heading and where the vulnerable points are.
Because you cannot act well on half a market, we measured both, and set the two side by side in the report.
No. One channel holds most of the money and another holds most of the volume, and most reports pick one and quietly call it the market.
You will underestimate how many grams and how many consumers are genuinely in play, and misjudge demand.
You will misread where the margin actually sits and who is really making money.
In the relationship between value and volume, not in either one alone, which is why both were measured and set side by side in the report.
This post gives you the argument. The full method, the figures, and the confidence ratings behind them are in the report. Read a free sample chapter, then decide.
Read the free sample →Three findings from the 2026 edition, free.
Of 8,636 expired dispensary licences, 1,339 renewed. The rest did not bother. That is not a market collapsing. That is a market taking out its own trash.
CertainFewer shops, higher revenue each. The closures removed storefronts, not revenue, because the shops that closed were earning almost nothing. Every desk model read the count and stopped.
LikelyA small minority of shops earn a disproportionate share of all revenue. The bottom half earns a fraction of it. Nobody else has measured this.
LikelyBuilt from 850+ dispensary visits across Thailand, 100+ dispensary owner and operator interviews, 30+ farm owner and operator interviews, and 400+ customer interviews across 40 nationalities. 101 pages. 23 chapters. Every chapter sourced, every figure confidence-tagged.