Largest Cannabis-Related Companies In The World

Learn a bit more about the largest cannabis companies in the world!
02 June 2021
7 min read
Largest Cannabis-Related Companies In The World

Contents:
  • 1. Canopy growth
  • 2. Tilray
  • 3. Aurora cannabis
  • 4. Cresco labs
  • 5. Green thumb industries
  • 6. Trulieve
  • 7. Innovative industrial properties inc.
  • 8. Scotts miracle-gro co.
  • 9. Harvest health & recreation
  • 10. Kushco holdings
  • 11. Charlotte's web holdings
  • 12. In conclusion

Last year the cannabis industry was worth around $19.6 billion worldwide and despite already being an impressive number, it has a lot of room to grow. The medical and recreational use of cannabis is legal in some places and experts expect that the rest of the countries will legalize or at least decriminalize cannabis in the next couple of years which will increase the cannabis industry’s worth really fast, growing at an annual rate of approximately 33%. So if you’re an investor or planning to get into the legal cannabis industry, learn about the largest cannabis companies and why they've become so successful!

1. Canopy Growth

Canopy Growth was founded in Ontario, Canada and became the first licensed, regulated and publicly traded cannabis company in North America, the company was founded in 2013 under the name Tweed Marijuana Inc. and later, in 2015, merged with Bedrocan Canada, where it changed its name to Canopy growth.

 

Largest cannabis companies: canopy growth

Canopy growth corporation.
 

Before cannabis was legalized for recreational use, the company was already selling cannabis products for medical patients but now offers a wider range of products for both recreational and medical use through its subsidiaries, Bedrocan Canada and tweed Inc, and in 2018 the company partnered with Constellation brands (an American beer, wine and spirit manufacturer) to increase their production and release cannabis-infused beverages.

Canopy Growth

StockMarket CapRevenueNet Income
CGC$19.4 billion$470 million$-1.52 billion

 

Fast forward to 2021, Constellation Brands has invested around $4 billion in Canopy Growth, which plans to expand into overseas markets, mainly in Germany, Spain, and Australia, where it acquired Spektrum Cannabis GmbH to sell medical cannabis products in Germany and partnered with Alicaliber S.A to also sell medical products in Spain.

2. Tilray

Tilray is a pharmaceutical and cannabis multinational company that sells both medical and recreational cannabis, becoming the first Canadian company to export medical cannabis to the US for clinical testing. Thanks to its partnerships and sub-companies, Tilray has managed to sell a wide range of products all over the world under several subsidiaries which is why it has conquered a huge slice of the cannabis market.

 

Largest cannabis companies: tilray

Tilray headquarters.
 

In 2018, Tilray partnered with Novartis through which it distributes and sells medical cannabis in legal markets across the world, with the main brands being Smith & Sinclair through which the company sells CBD edibles and beverages in the UK, and gaining access to the CBD market in the United States with the acquisition of Manitoba Harvest in 2019.

Tilray

StockMarket CapRevenueNet Income
TLRY$8.3 billion$248 million$-291 million

 

Apart from CBD products, the company sells recreational cannabis products such as concentrates and THC flower through High Park Company and the Authentic Brands Group through which it sells cannabis products under known brands such as Greg Norman and Juicy Couture.

3. Aurora Cannabis

Aurora Cannabis is a Canadian company that produces cannabis and operates in more than 25 countries around the world; With five sales licenses and eight licensed production facilities, the company can produce over 625,000 kilograms of cannabis per year.

 

Largest cannabis companies: aurora

Aurora Cannabis retail store in West Edmonton.
 

Due to the huge medical cannabis production, the company had to partner up with several subsidiaries in order to sell their products which range from CBD drops and capsules to CBD flower; The company invested in a partnership with Pedanios GmbH which is the second-largest medical cannabis supplier to pharmacies in Germany and also partnered with CanvasRx which is part of Canada’s largest medical cannabis program.

Aurora Cannabis

StockMarket CapRevenueNet Income
ACB$8.01 billion$248 million$-291 million

 

Also, Aurora Cannabis has recently started selling recreational cannabis through a total of 60 retail stores, with the main one being Canada’s largest cannabis store and, besides the medical cannabis market, Aurora now owns Aurora-Larssen, entering the greenhouse market with one of the biggest greenhouse design and engineering consultants.

4. Cresco Labs

Cresco Labs is a recreational and medical cannabis company that operates in nine states in the US, including Arizona, California, New York, Pennsylvania and Nevada among others with headquarters in Chicago, Illinois. The company owns various subsidiaries through which it distributes and sells both its CBD and THC products.

 

Largest cannabis companies: cresco labs

Cresco Lab's premium Sativa flower.
 

Cresco first started with Well Beings which is the company’s main brand of CBD products such as CBD gummies and oils, then in 2019, acquired VidaCann and gained access to seven cannabis retail stores in Florida, also acquiring thirty cultivation and manufacturing licenses in the same state.

Cresco Labs

StockMarket CapRevenueNet Income
CRLBF$5.84 billion$153 million$4.9 million

 

A couple of months later, Cresco Labs acquired Origin House and became the largest acquisition in the cannabis industry in 2021, giving the company access to more than 500 retail stores across California; And most recently, Cresco partnered with Sunnyside, allowing them to operate and sell cannabis wellness products in more than 56 dispensaries across the United States.

5. Green Thumb Industries 

With headquarters in Edmonton, Canada, Green thumb Industries is a pharmaceutical and recreational cannabis retailer that distributes and sells cannabis products across 7 states in Canada and 6 in the United States. The company employs more than 2300 workers and operates 13 manufacturing facilities, and 97 licensed retail stores, with a huge catalog of cannabis products for both medical and recreational users, distributed in over 50 retail stores across North America.

 

Largest cannabis companies: green thumb industries

Green Thumb's dogwalkers pre-rolls.
 

The cannabis company offers several products but has become more popular due to the premium products they offer, starting with Rhythm for recreational users which offers premium concentrates, flower, and vape cartridges.

Green Thumb Industries

StockMarket CapRevenueNet Income
GTBIF$8.76 billion$442 billion$-25 million

 

Green Thumb has also gained a large part of the market with their premium pre-rolls called Dogwalkers which, as the name implies, are 0.35g pre-rolls that you can smoke when taking your dog for a walk; Also, the company owns one of the best-selling cannabis-infused edibles, called Incredibles, which were created over 10 years ago and has become the most awarded edibles brand.

6. Trulieve

Trulieve is the largest medical cannabis company in Florida, controlling around 51% of the cannabis market in the state; The company serves over 380.000 medical patients in Florida and has a cultivation area of more than 1.9 million square feet.

 

Largest cannabis companies: trulieve

Trulieve retail store in Florida.
 

This cannabis company operates more than 500 cannabis products and is updating its catalog constantly to adjust to new types of products and better serve its clients. Trulieve also has medical cannabis licenses in California, Massachusetts, and Connecticut, operating over 71 retail stores across the United States and it doesn’t stop there.

Trulieve

StockMarket CapRevenueNet Income
TCNNF$5.91 billion$487 million$182 million

 

Trulieve made aggressive moves in 2020 and expanded its operations and sales into several more states, acquiring two cannabis cultivation companies in Pennsylvania and a processor permit in West Virginia, making it one of the largest cannabis producers in North America.

7. Innovative Industrial Properties Inc.

Innovative Industrial Properties Inc. has its headquarters in San Diego, California, and unlike some of the other companies mentioned which focus on producing cannabis products, this company focuses on selling and leasing properties in which other companies can grow cannabis. 

 

Largest cannabis companies: innovative industrial properties inc

Innovative industrial properties inc.
 

As of 2021, the company owns around 2.4 million square feet of land across the United States, including:

  • California; 
  • New York; 
  • Colorado; 
  • and Arizona among others.

in which Innovative Industrial Properties Inc. has already leased 100% of its properties with an average lease term of 15 years!

Innovative Industrial Properties Inc.

StockMarket CapRevenueNet Income
IIPR$5.02 billion$163 million$74 million

8. Scotts Miracle-Gro Co.

Scotts Miracle-Gro Co. was founded in Marysville, Ohio, and is one of the oldest and largest garden supplies companies in the world; The company actually didn’t sell products related to cannabis and already was a huge company before even entering the legal cannabis industry.

 

Largest cannabis companies: scotts miracle-gro co.

Scotts Miracle-Gro Co.
 

But, since 2018, Scott Miracle-Gro Co. has expanded into the cannabis industry to take advantage of the fast-growing market and has produced many brands and types of cannabis products such as fertilizers, seeds, and hydroponics equipment.

Scotts Miracle-Gro Co.

StockMarket CapRevenueNet Income
SMG$13.41 billion$2.66 billion$242 million

9. Harvest Health & Recreation

Harvest Health & Recreation from Tempe, Arizona (most commonly called Harvest health), is a multi-state cannabis company that has primarily focused on selling medical cannabis products since its establishment in 2012.

 

Largest cannabis companies: harvest health and recreation

Harvest Health & Recreation headquarters.
 

However, Harvest Health has made several acquisitions and partnerships to expand into the recreational cannabis market, releasing brands such as Evolab, CO2LORs, and Modern Flower which have become the best-selling brands in Arizona, Colorado and Florida where the company also runs initiatives with local communities and charity groups. 

Harvest Health & Recreation

StockMarket CapRevenueNet Income
ORAN$1.69 billion$172 million$52 million

 

One example is their monthly seminars that not only serve to educate customers about the health benefits of cannabis but also boost sales and attract new customers.

10. KushCo Holdings

With headquarters in Garden Grove, California, KushCo is amongst the main companies that produce ancillary products and cannabis paraphernalia; The company is one of the largest vaporizer manufacturers and distributors, producing over 300 million products for more than 5000 legal cannabis clients since its establishment in 2010.

 

Largest cannabis companies: kushco holdings

KushCo. pre-rolls.
 

The company mainly sells its products through its eCommerce website and recently has made many new acquisitions to expand its product lines and enter new markets, producing and selling the most popular vaporizer brands through its subsidiary CMP Wellness, Summit Innovations which specializes in equipment that turns cannabis into CBD oil and Roll-Uh-Bowl which produces and sells silicone water pipes.

KushCo Holdings

StockMarket CapRevenueNet Income
KSHB$249.75 billion$140 million$8 million

11. Charlotte's Web Holdings

Charlotte’s Web Holdings is a family-owned company from Boulder, Colorado that sells all kinds of medical CBD products made strictly from hemp offering high-quality products that range from 7mg CBD up to 60mg.

 

Largest cannabis companies: charlotte's web holdings

Charlotte's Web CBD drops.
 

The company was founded in 2013 by seven brothers and quickly became one of the biggest in the hemp CBD industry when a documentary about the company’s CBD products and how it alleviated the symptoms related to Dravet syndrome.

Charlotte’s Web Holdings

StockMarket CapRevenueNet Income
CWBHF$943.43 billion$87 million$27 million

 

Nowadays, Charlotte's Web Holdings has over three million square feet of and across Colorado and sells CBD capsules, gummies, and oils among others through more than 80 retail locations across the United States.

12. In Conclusion

Whether you want to invest in cannabis or just get more information, these are the largest cannabis companies that you should definitely keep your eye on. These companies have grown a lot in just a couple of years and, if you plan it right, will make you a couple of bucks.

If you have any tips and tricks on how to invest in the legal cannabis industry feel free to leave a comment in the comment section below!

 
02 June 2021
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