Morocco wants to participate in the fast-growing global cannabis market, after the adoption in 2021 of a law to make the cultivation and trade of cannabis legal for medical, cosmetic and industrial purposes.
Morocco has adopted this text to improve the living conditions of cannabis producers and create new jobs in regions where its cultivation is authorized. Cannabis cultivation in Morocco fell from 134,000 hectares in 2003 to 47,000 in 2015, according to the interior ministry. The National Agency for the Regulation of Cannabis Activities (ANRAC) was created to implement the State’s strategy, recalls Maroc Diplomatique.
But beyond the socio-economic aspect of this major reform, Morocco, one of the largest cannabis producers in the world, aims to participate in the rapidly growing global cannabis market. The cannabis market is expected to top $16 billion by 2023 and nearly $66 billion by 2030, some experts say.
For other, more optimistic experts, the global cannabis market is expected to reach more than $230 billion by 2030 and more than $77 billion over the next five years. Europe would contribute 60% to market growth. A boon for Morocco.
