27 Aug. – The government strengthens research and development of Thai herbs. Paving the way to expand the market value of 100 billion baht by 2027
Miss Ratchada Thanadirek, Deputy Spokesperson for the Prime Minister’s Office Revealed that the government believes in the potential of Thai herbs. Ready to push herbs to have more value in the world market In which the consumption of herbal products in Thailand in 2022 is worth up to 52 billion baht, an increase from the year 2021, which is worth approximately 4.8 billion baht, and has forecast a goal in 2027 for the market size of raw materials and herbal products in Thailand to increase to over 100 billion baht
Deputy spokesman for the Prime Minister’s Office revealed that Kasikorn Research Center It is predicted that businesses related to Health and Wellness that use herbs as raw materials in production such as cosmetics, medicines and dietary supplements in 2020 have a total market value of 91 billion US dollars. And is expected to move to the level of 16.6 billion US dollars by 2030 with an average growth rate of 6.5 percent per year, which with confidence in herbs Thai entrepreneurs and the advantage in raw materials that Thailand has more than 1,800 types of herbs that can be used for industrial purposes. causing the government to continuously support the development of Thai herbs
by the Eastern Economic Corridor of Innovation (EECi) in cooperation with researchers on medicinal plants The National Center for Genetic Engineering and Biotechnology (BIOTEC), the National Science and Technology Development Agency (NSTDA), led the research and development of 5 medicinal plants, gotu kola, turmeric, black galingale, paniculata and holy basil, which are all plants. herbs for the country’s economy to increase production stability production quality can be extended to food security Precise agriculture has been born that combines technology with digital agriculture in cultivation. and increase productivity
In addition to the research part The government has linked herbal entrepreneurs and related industries. To develop the herbal industry with modern agricultural research to exchange knowledge Share experiences between plant researchers and entrepreneurs. which the cooperation that occurs will create sustainability and elevate the competitiveness of the Thai herbal market It will also be a mechanism to support the private sector in many sectors to work together more efficiently.
The government has continuously pushed forward the policy to support and promote Thai herbs, most recently, the 2nd National Herb Action Plan, 2023-2024, under the supervision of the National Herb Policy Committee. for the production of herbs that meet standards, quality and add value to herbal products Promote confidence in the use of herbs as well as increase competitiveness in both domestic and international markets continuously and systematically.
“The government attaches importance to helping to increase competitiveness. develop herbal farmers and entrepreneurs involved in all parts ready to bring innovation Technology has come to help the business of Thai people. for the advancement of Thai herbal products Fulfill every potential balanced and sustainable development,” Ms. Ratchada said.
However, herbal entrepreneurs And related entrepreneurs who are interested in developing herbs with modern agricultural research, can ask for more information at the Biotechnology Business Development Department, call 02-5646700 ext. 3305.-Thai News Agency
Source: Thai News Agency