With the United States’ increasing acceptance of cannabis and its products, the cannabis industry has grown into a major sector of the US economy. In recent years, the market value of cannabis stocks have seen a steep climb, driven by a surge of investment from various investors.
According to data compiled by Marijuana Business Daily, the cannabis market will surpass $64 billion by 2023. This prediction has led to a flurry of investments in the sector, as investors look to capitalize on the booming cannabis industry.
So, who are the top 10 companies driving the cannabis industry in 2023?
1. Curaleaf Holdings: Curaleaf is one of the leading cannabis companies in the United States. It is known for its wide range of products, including flower, extracts, and edibles. Curaleaf has operations in Massachusetts, Maryland, Connecticut, New York, Florida, Arizona, and whenever else cannabis is legalized in the US.
2. Green Thumbs Industries: Green Thumbs Industries is an Illinois-based cannabis company that specializes in recreational and medical marijuana. The company has more than 20 retail stores in the US and has announced plans to expand into Canada.
3. Tilray: Tilray is a Canadian-based cannabis company that produces, distributes, and sells a variety of products. It is the only publicly traded cannabis company in North America and has operations in the US, Canada, Europe, South America, and Australia.
4. Canopy Growth Corporation: Canopy Growth Corporation offers a variety of cannabis products through its website. It is one of the largest cannabis companies in the world and has operations in Canada, Denmark, Germany, and Australia.
5. MedMen Enterprises: MedMen Enterprises is an American cannabis company that operates dispensaries throughout California, Nevada, and New York. It distributes a variety of medical and recreational cannabis products, and is currently expanding into Florida and Illinois.
6. Cresco Labs: Cresco Labs is an American cannabis company that has operations in 11 US states. It is one of the largest wholesalers of cannabis products, offering flower, pre-rolls, vape pens, edibles, tinctures, and topicals.
7. Acreage Holdings: Acreage Holdings is an American cannabis company that operates dispensaries throughout the US. It has operations in 11 states and offers a variety of cannabis products, including flower, breath strips, topicals, and capsules.
8. Aurora Cannabis: Aurora Cannabis is one of the largest cannabis-based companies in Canada. It is a vertically-integrated producer and distributor of medical and recreational marijuana products, and offers a variety of cannabis-infused products.
9. The Scotts Company: The Scotts Company is an American lawn care company that recently branched into the cannabis industry. It has operations in states across the US, as well as in Canada. The company offers seeds, pre-rolls, edibles, and vape pens.
10. TerrAscend: TerrAscend is a Canada-based cannabis company that offers a variety of products, including flower, edibles, capsules, and topicals. It operates dispensaries throughout the US and Canada.
As cannabis stocks continue to rise in value, investors are increasingly turning their focus to cannabis companies in the United States and Canada. With a variety of products and services, these 10 cannabis companies are poised to contribute to the growth of the emerging cannabis industry and lead the charge in 2023.