Analysis of the economic value and market opportunities of cannabis-infused products: case studies of the licensed areas in the central region of Thailand
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Abstract
This research aimed to study the current situation of cannabis extract-infused products influencing the market opportunities of such products and to examine the economic value of cannabis extract-infused products affecting their market potential. This quantitative study surveyed data from a sample of 200 entrepreneurs engaged in cannabis extract-infused product businesses operating in legally authorized areas within the central region of Thailand. The sample was selected using a chain sampling method. Data were collected through questionnaires and analyzed using descriptive statistics, including frequency, percentage, mean, and standard deviation, as well as hypothesis testing through one-way analysis of variance and multiple regression analysis.
The findings revealed that the current situation regarding cannabis extract-infused products, particularly the business support for product development and differences in business location, significantly influenced market opportunities. In terms of business support for product development, it was found that adopting technologies and innovations had a significantly higher mean score than increased investment in start-up businesses, both domestically and internationally. Regarding business location, Phra Nakhon Si Ayutthaya had a significantly higher mean score than other areas. Additionally, the economic value of cannabis extract-infused products comprising medical applications of cannabis, knowledge of cannabis, and product attributes was found to significantly influence the market opportunities of these products at the 0.05 significance level.
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