Medical Cannabis - Morocco

Morocco

Morocco's Medical Cannabis market market is forecasted to achieve a revenue of US$222.60m by 2024.
The revenue is anticipated to demonstrate an annual growth rate (CAGR 2024-2029) of 3.01%, leading to a market volume of US$258.20m by 2029.
When compared globally, the United States will generate the highest revenue (US$14,530.00m in 2024).
Regarding total population figures, in 2024, per person revenues amount to US$14.83k.
Morocco's medical cannabis market is poised for significant growth, attracting international investors due to its favorable climate and historical expertise in cultivation.

Key regions: Australia, Europe, South Africa, United States, Netherlands

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Analyst Opinion

The Medical Cannabis market in Morocco has been experiencing significant growth and development in recent years.

Customer preferences: Customers in Morocco are increasingly turning to medical cannabis products due to the growing awareness of its potential health benefits. The shift towards natural and alternative medicine has driven demand for medical cannabis as more people seek non-traditional treatment options.

Trends in the market: One notable trend in the Moroccan Medical Cannabis market is the increasing acceptance and legalization of cannabis for medical purposes. This shift in regulations has opened up opportunities for local producers and foreign investors to enter the market and capitalize on the growing demand for medical cannabis products.

Local special circumstances: Morocco's favorable climate and geographic location have positioned it as a key player in the global cannabis market. The country has a long history of cannabis cultivation, and the legalization of medical cannabis presents a unique opportunity for Morocco to leverage its expertise and resources in this sector.

Underlying macroeconomic factors: The development of the Medical Cannabis market in Morocco is also influenced by macroeconomic factors such as government regulations, international trade agreements, and investment incentives. The government's support for the medical cannabis industry and efforts to attract foreign investment have played a significant role in driving the growth of the market.

Methodology

Data coverage:

Data encompasses B2B and B2C enterprises. Figures are based on companies' revenues, funding values and global consumer survey data. Revenues include retail, sales and taxes.

Modeling approach / Market size:

Market sizes are determined by a Top-Down approach, based on a specific rationale for each market market. As a basis for evaluating markets, we use financial reports, third-party data. Next, we use relevant key market indicators and data from country-specific associations such as tobacco spending per capita, medical product spending per capita, consumer spending and consumer spending for recreation purposes, population. This data helps us to estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, S-Curve function, ARIMA time series model and exponential curve function.

Additional Notes:

The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level. GCS data is reweighted for representativeness.