Cannabis - Morocco

Morocco

Morocco's Cannabis market is projected to reach US$241.20m in 2024.
The revenue is expected to show an annual growth rate (CAGR 2024-2029) of 2.95%, resulting in a market volume of US$278.90m by 2029.
In global comparison, most revenue will be generated the United States (US$42.98bn in 2024).
In relation to total population figures, per person revenues of US$0.39k are generated in 2024.
Morocco's Cannabis market is undergoing a significant shift towards legalization, attracting international investment and fostering economic growth in the sector.

Key regions: United States, Canada, Netherlands, Germany, Thailand

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Analyst Opinion

Morocco, known for its rich cultural heritage and diverse landscapes, is also making a mark in the Cannabis market with its unique characteristics and trends.

Customer preferences: Cannabis consumption in Morocco is deeply rooted in cultural and traditional practices, with a long history of cultivation and usage for both medicinal and recreational purposes. The local population often prefers traditional methods of consumption, such as hashish, due to cultural familiarity and accessibility.

Trends in the market: One notable trend in the Moroccan Cannabis market is the increasing demand for high-quality products in international markets. As global attitudes towards Cannabis evolve and legalization spreads, Moroccan producers are adapting to meet the standards and preferences of international consumers. This trend is driving innovation and quality improvement in the local industry.

Local special circumstances: Morocco's geographical location and climate create ideal conditions for Cannabis cultivation, leading to high-quality products that are in demand globally. The country's long history of Cannabis cultivation has also established a strong foundation of knowledge and expertise in the industry. However, the informal nature of the market and regulatory challenges present barriers to fully capitalizing on the potential of the Cannabis industry in Morocco.

Underlying macroeconomic factors: The evolving regulatory landscape and potential legalization of Cannabis for medical and industrial purposes in Morocco are key macroeconomic factors shaping the market. As the government explores opportunities for legalization and regulation, the Cannabis industry is poised for growth and formalization. Additionally, the potential economic benefits of a regulated Cannabis market, including job creation and tax revenue, are driving discussions around legalization in the country.

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.