Morocco’s medicinal cannabis sector expected to generate US$680M by 2028

MOROCCO—Morocco’s medicinal cannabis sector is projected to achieve annual sales ranging from MAD 4.2 to 6.3 billion (US$420 million to US$630 million) by 2028, with the potential to capture 10-15% of the European market.

This disclosure was made by Mohamed El Bouhmadi, president of the Moroccan Federation of the Pharmaceutical Industry and Innovation (FMIIP), during an FMIIP workshop highlighting the significant economic prospects presented by the medical cannabis industry.

 Experts assert that medical cannabis has emerged as a new hope in the health profession, offering a variety of therapeutic benefits and serving as an alternative or supplementary treatment to traditional therapies.

In his opening remarks at the workshop reported by Le360, El Bouhmadi emphasized that Morocco is well-positioned to meet this goal, given the efforts by the National Agency for the Regulation of Cannabis Activities (ANRAC), the Directorate of Medicines and Pharmacy (DMP), and industry experts.

 These bodies have been instrumental in the formulation and passage of Law 13-21 on the legal use of cannabis in 2021, joining an increasing number of African countries that have approved cannabis for therapeutic uses.

The legalization of the cultivation, processing, and sale of cannabis presents new opportunities for both the pharmaceutical industry and agriculture.

In April of last year, ANRAC granted 2,905 permits for legal cannabis cultivation.

Additionally, approximately 2,737 permits were awarded to 2,637 farmers in the Taounate, Chefchaouen, and Al Hoceima regions for the cultivation and manufacture of legal cannabis, up from 430 the previous year.

ANRAC also granted 168 authorizations to 61 pharmaceutical operators, including 16 cooperatives, 37 companies, and seven individuals.

He also noted that the recent publication of regulatory guidelines by the Minister of Health and Social Protection, which outline the conditions for registering cannabis-based medications, dietary supplements, and cosmetic products, further underscores this venture.

 Hemp’s wide range of applications, from thermal insulation materials in buildings to cosmetics and CBD oil-based culinary products, can also be utilized in sustainable textiles, papermaking, and chemistry.

Given global raw material limitations, hemp could emerge as a new growth driver for a variety of industries. 

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