Pharmaceutical Cannabis - Morocco

Morocco

Morocco is expected to see revenue in the Pharmaceutical Cannabis market reach US$3.90m by 2024.
The market is projected to exhibit an annual growth rate (CAGR 2024-2029) of 5.30%, leading to a market volume of US$5.05m by 2029.
When compared globally, the United States is anticipated to generate the highest revenue (US$913.10m in 2024).
In terms of per capita income, in Morocco is estimated to generate revenues of US$1.73k per person in 2024.
Morocco is positioning itself as a key player in the pharmaceutical cannabis market, leveraging its favorable climate and expertise in cultivation techniques.

Key regions: United States, Spain, Europe, Thailand, Canada

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Analyst Opinion

Morocco has seen a significant rise in the Pharmaceutical Cannabis market, with various factors driving its development.

Customer preferences: In line with global trends, customers in Morocco are increasingly turning to Pharmaceutical Cannabis products for their perceived health benefits and potential medical applications. The growing acceptance and legalization of medical cannabis worldwide have influenced customer preferences in Morocco, leading to an uptick in demand for Pharmaceutical Cannabis products.

Trends in the market: One notable trend in the Moroccan Pharmaceutical Cannabis market is the increasing number of companies entering the industry to capitalize on the growing demand. This trend is fueled by the country's favorable climate for cannabis cultivation and the potential for export to other markets. Additionally, the government's efforts to regulate and support the industry have also contributed to its growth.

Local special circumstances: Morocco's long history of cannabis cultivation, particularly in the Rif Mountains region, gives the country a competitive advantage in the Pharmaceutical Cannabis market. The local expertise in cannabis cultivation, combined with favorable climatic conditions, positions Morocco as a key player in the global Pharmaceutical Cannabis industry. Furthermore, the country's strategic location provides easy access to European markets, offering significant export opportunities for Pharmaceutical Cannabis products.

Underlying macroeconomic factors: The development of the Pharmaceutical Cannabis market in Morocco is also influenced by macroeconomic factors such as government regulations, international trade agreements, and investment incentives. The government's efforts to regulate the industry and attract foreign investment play a crucial role in shaping the market landscape. Additionally, Morocco's participation in international trade agreements and its strategic partnerships with other countries impact the growth and expansion of the Pharmaceutical Cannabis market within the region and beyond.

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.