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MONDAY, May 29, 2023
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Trendsetting Thai company adds CBD line of lotions

Trendsetting Thai company adds CBD line of lotions

WEDNESDAY, January 11, 2023

Thai-owned British Dispensary Group is launching a line of skin-care products using cannabidiol, or CBD, marking the first time the more than 130-year-old company will use a hemp extract in its products, it announced on Wednesday.

Group president Anurut Vongvanij told media that the new product line, named “HerbaCeutic”, will start with four lotions using CBD produced by Salus Biocutical (Thailand), a subsidiary of one of Canada’s largest cannabis companies, MPX International.

Anurut said the collaboration with Salus would guarantee Canadian expertise as well as large-scale production of hemp extract. The new products use medical grade, high quality CBD that meets standards in Canada as well as Thailand's Food and Drug Administration, Anurut said.

Products using CBD extract have exponential growth prospects, Anurat said.

Kasikorn Research Center valued the hemp market in Thailand last year at about 7.2 billion baht. The Thai hemp market will be worth about 40 billion baht by 2023, with the market in Asean as a whole worth 250 billion baht, according to US forecasts.

Anurut said personal care products with CBD as an ingredient are among the five most popular CBD products. Adding CBD products to its lineup is a milestone for the company, he said.

Anurut Vongvanij "Since its inception in 1892, the British Dispensary Group has expanded its product line from prickly heat cooling powder to body spray, shower gel, facial foam, cooling hygiene wipes, and supplements. It is now time to have a brand new product to attract new customers. It is the first time in 130 years that we have new CBD products," he said.

The main target of the company’s Snake Brand HerbaCeutic's is working-class people aged 25 to 45, Anurat said, adding that they face more stress and pressure than people in other age groups. CBD will help them relieve that stress, he said.

The company expects sales of its CBD product line to reach 200 million baht this year, and total sales of other products to reach 1.5 billion baht.

"We will first focus on the domestic market, but we intend to launch these CBD products in Vietnam this year," Anurut said.

Trendsetting Thai company adds CBD line of lotions

 

 

 

 

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