Morocco Legalizes Cannabis Industry, Eyes Global Medical and Industrial Markets

Morocco adopted this text to improve the living conditions of cannabis producers and create new jobs in the regions where its cultivation is authorized. Cannabis cultivation in Morocco has dropped from 134,000 hectares in 2003 to 47,000 in 2015, according to the Ministry of the Interior. The National Agency for the Regulation of Cannabis Activities (ANRAC) has been created to implement the state’s strategy, recalls Maroc Diplomatique.

But beyond the socio-economic aspect of this major reform, Morocco, one of the world’s largest cannabis producers, aims to participate in the rapidly growing global cannabis market. The cannabis market is expected to exceed $16 billion by 2023 and nearly $66 billion by 2030, according to some experts.

For other, more optimistic experts, the global cannabis market should 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 windfall for Morocco.