Issue 57
Thai entrepreneurs are urged to tap the global herbal supplements and remedies market, which is estimated to reach US$115 billion in 2020. Data from DITP shows that the world herbal market was worth over US$83 billion in 2007.
“Demand of herbal extracts is increasing on the world market because of growing consumer awareness about health and wellness. Thai producers should enhance the quality of herbal products to meet the global standard, especially the quality of raw materials and their efficacy,” DITP Director-General Malee Choklumlerd said on August 11.
In the first six months of 2016, Thailand’s herbal extract exports valued at US$3.8 million (133 million baht), an increase of 11% on the same period in 2015. The key export markets are Myanmar, China and the US.
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