By Lydia Kibet
The marijuana industry is swiftly picking up the steam around the globe, but nowhere is this market growing faster than in the US. If you’re looking for a secure investment, marijuana companies may be the next mighty thing.
If we were to identify one industry which is certain to continue blooming soon, that would be precisely this one -- a multi-billion business with great forecasts. Here are essential marijuana statistics that will help you fully grasp the importance of this flourishing market.
There are many, many marijuana businesses now, especially if you count those who support the cannabis industry (and not just those, like bakeries and dispensaries, that sell cannabis). We're going to include both types on this list.
Here are the top 10 biggest marijuana (and ancillary marijuana) companies in the US.
Scotts Miracle-Gro is one of the oldest and the most successful companies when it comes to lawn and garden supplies besides growing marijuana. Based in Marysville, Ohio, it began as a seed grower before its 1995 merger with the Miracle-Gro. Their products include hydroponics, fertilizers, and garden technology.
With a market cap of $5.6 billion, it is considered the biggest marijuana company in the US. Most of the company’s activity has been to acquire hydroponic growers and found itself as the leading supplier of indoor growers.
Founded in 1988, GW Pharmaceuticals have subsidiaries both in the US and UK. It is a biopharmaceutical company that develops the world’s first cannabinoid-based medication. The firm’s CBD treatment for rare conditions such as epilepsy - with Epidiolex approved by the US Food and Drug Administration (FDA).
GW Pharmaceuticals has a market cap of $2.6 billion, ranking number two of the most significant cannabis companies in the US.
Arena Pharmaceuticals is a biopharmaceutical company based in California, US, aiming to deliver transformational medicines both in the US and Switzerland. It is also expanding to Asian markets by partnering with Everest medicines.
While ARNA is listed as one of the biggest marijuana companies with a market cap of $2.3 billion, that doesn’t mean all its biotech revolves around cannabis-based medicine. Their pride is based on a potent painkiller for treating Crohn’s disease.
Curaleaf is the largest marijuana company in the US, with a market cap of $1.3 billion. Among the US vertically integrated Multistate Operators (MSO), none is more substantial than Curaleaf. They focus on providing cannabis products in the wellness and medical sectors.
Based in Massachusetts, its products are distributed across multiple states and dozens of local dispensaries. The acquisition of two merger deals: Select and Grassroots, Curaleaf will have 131 retail licenses spanning over 19 states. CURLF cash-flow is undoubtedly positive in 2020.
Based in Chicago, Green Thumb Industries cultivates, manufactures, and distributes medical cannabis through brick and mortar dispensaries. GTI, the largest MSO, operates in 12 different states with 34 open Rise retail locations and 96 retail licenses. This makes Green Thumb Industries an addressable market with over 151 million people in the United States and a market cap of $8.4 million.
GTI emphasizes investing in the marijuana business and has over 800 employees and 11 manufacturing facilities. The two primary offices are in Chicago, Illinois and Tampa, Florida.
Unlike other publicly traded companies that deal with cannabis-derived products, IIPRacts as a trust for the acquisition of cannabis real estate. It is listed in the New York Stock exchange and operates by purchasing real estate options and leasing them to licensed cannabis growers.
Based in SanDiego, California, Innovative Industrial Properties has a market cap of $7.9 Million and properties in several states across America.
Cara Therapeutics is a biopharmaceutical company based in Connecticut, a strong competitor of GW pharmaceuticals. CARA focuses on producing medicines purposely meant for chronic pain, inflammation, and pruritus.
The American Cannabis company may have FDA recognition, but currently, they’re carrying out clinical trials on Korsuva (CR845), a new medicine that will perhaps get the confirmation it’s safe to use.
Trulieve Cannabis is based in Florida with 40 dispensaries in the Sunshine state, therefore keeping its costs to the vest, and allowing it to build up its brand effectively. Truliev’s third-quarter reportwas incredible, with the company generating a handsome operating profit of $23.6 million.
It supplies concentrates and dried cannabis flowers via brick and mortar dispensaries. Also, they produce vape pens, topical creams, vaporizers, and cartridges. Trulieve owns multiple sites and has steadily grown since 2018. With an official Trulieve app, it offers customers dispensary addresses and product guides.
Corbus Pharmaceuticals is a biopharmaceutical company that operates in Norwood, Massachusetts. It is currently in the third stage of preclinical trials, and their treatments primarily aimed at inflammatory and fibrotic conditions. The primary mechanism of these treatments is the endocannabinoid system and the activation of CB2 receptors.
Founded by seven brothers in 2013, Charlotte Web Holdings has perhaps outshined all their dreams. With $21.7 million revenues over the last quarter, CWBHF is one of the largest and the most successful hemp manufacturers in the US. The hemp company gained its fame whenCNN aired a documentary about a girl who was relieved from seizures after using their CBD products.
Charlotte web holdings are exclusively focused on hemp-derived products producing a wide variety of products, including topical creams, CBD oils, capsules, and CBD for pets. Their products can be found across America and other parts of Europe.
That's the list of the top 10 biggest marijuana companies in the US. Want to someday be included on this list? Check out our guides on starting a cannabis business or on starting a medical marijuana business.
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