Morocco adopts law to legalize cannabis for medical, cosmetic and industrial purposes Morocco. The new law aims to improve the lot of the thousands of farmers who make a living from growing cannabis, as well as creating new employment opportunities in areas where cannabis cultivation is permitted.
Morocco is one of the world's largest cannabis producers. According to the Ministry of the Interior, the area on which the plant is grown has dropped from 134,000 hectares in 2003 to 47,000 in 2015.
Legalization is not only driven by socio-economic reasons, but also by the ambition to participate in the fast-growing global cannabis market. Research shows that the medical cannabis market will reach $14 billion by 2022.
This trend is set to continue in the years ahead. The market is growing by around 22% a year. Some experts predict that the market will exceed $16 billion by 2023 and nearly $66 billion by 2030.
Other forecasts are even more optimistic, estimating that the global market will reach more than $230 billion, a third of it worldwide over the next five years. Europe is expected to account for 60% of market growth.
Source : https://maroc-diplomatique.net/le-maroc-vise-le-marche-mondial-du-cannabis-apres-la-legalisation/