Undisputedly, the cannabis industry is one of the most lucrative industries. New Frontier Data projects that it would be worth $30 billion by 2025.
Cannabis is the most commonly used and purchased drug globally after cocaine and painkillers like codeine. Despite it being declared illegal by the U.S. federal law, about 35 states have made it legal for their citizens to use. Its growing popularity owing to reasons like its quick absorption rate and health benefits has contributed to the success of the cannabis industry.
In this article, we discuss five of the biggest cannabis companies globally.
5 Biggest Cannabis Companies in the World
Tilray is a global cannabis manufacturer with her headquarters in New York, United States, and expanding facilities in Portugal and Germany. The company was founded in 2014 under Privateer Holdings and got approval from Health Canada to hold clinical trials in 2016; it is the first cannabis company to conduct clinical trials.
Tilray has had strategic partnerships with High Park Company, Novartis, Authentic Brands Group (ABG), and Manitoba Harvest. Also, they had a merger with Aphria in December 2020 to expand into the market in the United States and Europe.
As of March 2022, Tilray’s revenue and market cap are $210.5 million and $3.35 billion.
Aurora Cannabis is a cannabis company founded in 2006 by Terry Booth, Steve Dobler, Dale Lebsack, and Chris Mayerson. It operates in over 25 countries in Asia, Europe, Latin America, and Canada, and it has its headquarters in Alberta, Canada.
Aurora produces over 625,000 kilograms of cannabis each year and has the largest Cannabis retail store in Canada in West Edmonton Mall. They also have subsidiary companies such as Pedianios GmbH, CanvasRx, and Aurora-Larssen Projects.
Aurora got its first license to engage in the sale of medical cannabis in 2014. Today, their revenue is close to 247 million CAD, while their market cap is up to $800 million.
Canopy Growth was founded in 2013 by Bruce Linton and Chuck Rifici and is based in Ontario, Canada. It was the first cannabis manufacturer in North America to get federal license and regulation. They had a merger in 2015 with Bedrocan Canada, after which they partnered with Constellation Brands in 2015. Their market value rose to $12 billion after their partnership.
Currently, Canopy Growth’s market cap is about $3.1 billion, while their revenue totals 607 million CAD.
Curaleaf was founded in 2010 under the name “PalliaTech”. Its key leaders are Boris Jordan (Executive Chairman), Joseph Bayern (CEO), and Joseph Lusardi (Vice-Chairman).
The company became the largest cannabis operator in America after acquiring ownership of Select, a Cannabis oil brand, in 2014. Today, it serves over 350K registered patients across 23 states in the U.S.
Currently, Curaleaf’s revenue is about $320 million, and its market cap is around $4.5 billion.
Green Thumb Industries
Green Thumb Industries was founded in 2014. Its headquarters is in Chicago, Illinois.
The company sells and distributes across 12 states, 13 manufacturing facilities, and 97 licensed retail stores. Some of its bestsellers are Rhythm, Dogwalkers, and Incredibles. Green Thumb Industries’ revenue in 2021 was $893.56 million, while its market cap was $4.285 billion.