The 15 Largest Cannabis Companies In The World

In 2020, the cannabis industry was worth $16.1 billion in the United States and $19.6 billion worldwide. Even though this is already an impressive number, it has huge room to grow.

Recreational use of marijuana is currently only legal in 11 of the 50 U.S. states. Most experts expect this number to quickly increase over the next decade, with prominent groups and lawmakers in almost every state lobbying for drug reform.

There is even a possible chance that the recreational use of the plant will become legalized on a federal basis within the next half-decade.

Even without further legalization, the medical and recreational cannabis industry is expected to grow at an annual rate of about 33% between now and 2024.

If you’re an investor or perhaps planning to enter the industry yourself, you should first research the current largest cannabis companies and learn their reasons for success.

In this article, we’ll discuss the top 15 largest cannabis and provide a brief overview of their operations.

These 15 largest marijuana companies are:

1. Green Thumb Industries (GTI). Headquarters: Edmonton, Canada

   Market cap: $1.70 billion
   Revenue: $1 billion

   Green Thumb Industries is a pharmaceutical and recreational marijuana retailer that distributes and sells its product across 15 states.

   The company employs 2,300 workers and operates 13 manufacturing facilities and 77 licensed retail stores.

   Green Thumb also owns a large portfolio of branded cannabis products that it manufactures and distributes.

   The company’s best-selling brands are:

   • Rythm. Rythm is Green Thumb’s premium brand of vape-able cannabis products.

   • Dogwalkers. Dogwalkers are cannabis pre-rolls that Green Thumb markets as being discrete and convenient.

   • Incredibles. Incredibles is Colorado’s best-selling cannabis-infused edibles brand.

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2. Tilray. Headquarters: Toronto, Canada

   Market cap: $1.69 billion
   Revenue: $628.4 million

   Tilray is a multinational pharmaceutical and cannabis company that operates primarily in Canada.

   The company sells both medical and recreational cannabis through its various subsidiaries and strategic partnerships:

   • High Park Company. Tilray launched High Park Company to sell adult-use recreational cannabis.

   • Novartis. Tilray partnered with Novartis subsidiary Sandoz to co-brand, distribute, and sell medical cannabis in legal markets around the world.

   • Authentic Brands Group (ABG). ABG and Tilray maintain a revenue-sharing agreement wherein ABG sells Tilray-supplied cannabis under its more well-known brand names, such as Greg Norman and Juicy Couture.

   • Manitoba Harvest. Tilray acquired Manitoba Harvest in 2019 to gain access to the United States CBD market.

   • Smith Sinclair. Tilray develops and sells CBD edibles in the United Kingdom through the Smith Sinclair brand.

   Tilray was the first Canadian company to export medical cannabis to the United States for clinical testing.

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3. Curaleaf. Headquarters: Wakefield, MA

   Market cap: $1.68 billion
   Revenue: $1.31 billion

   Founded in 2010 as a cannabis research center and oil producer, Curaleaf has become one of the largest cannabis companies in the world. In fact, it is the largest cannabis company by revenue.

   Currently, The company operates dispensaries in 23 states, a number that will likely increase as more states legalize marijuana.

4. Trulieve. Headquarters: Florida, United

   Market cap: $960 million
   Revenue: $1.2 billion

   Trulieve is the largest medical cannabis company in Florida, controlling approximately 51% of the state’s market. The company serves 380,000 patients in Florida and 1.9 million square feet of cultivation space.

   The company operates over 500 cannabis stock-keeping units (SKUs) and is constantly updating its product line with new offerings.

   Trulieve also possesses medical marijuana licenses in California, Massachusetts, and Connecticut and operates 71 retail locations across the United States.

   The company made aggressive plans in 2020 to expand its operations and sales into more states, acquiring two Pennsylvania cannabis cultivation companies and a processor permit in West Virginia.

5. Verano Holdings Headquarters: Chicago, IL

   Market cap: $940 million
   Revenue: $879 million

   Verano Holdings is a young cannabis company founded in 2014 and has been growing ever since.

   Today, the company operates in 14 states, with a total cultivation capacity of 1,000,000 square feet across its facilities. Verano’s brands, Zen Leaf™ and MŪV™ are also sold in 126 operational retail locations.

6. Canopy Growth. Headquarters: Ontario, Canada

   Market cap: $830 million
   Revenue: $520 million

   Canopy Growth was the first federally licensed, regulated, and publicly traded cannabis company in North America.

   The company was founded in 2013 under the original name Tweed Marijuana Inc. It later merged with Bedrocan Canada in 2015 and rebranded itself to its current name.

   Prior to the legalization of marijuana for recreational use in Canada in 2018, Canopy Growth only sold products that were licensed under the Access to Cannabis for Medical Purposes Regulations (ACMPR) act.

   The company now sells a much wider range of products, both recreational and for medical purposes, through its main subsidiary brands of Bedrocan Canada Corp and Tweed Inc.

   Also in 2018, Canopy Growth partnered with American beer, wine, and spirits giant Constellation Brands to increase their production capabilities and develop new drinkable cannabis products.

   As of early 2021, Constellation Brands has invested a total of $4 billion in Canopy Growth, giving it a 38% stake in the company.

   Canopy Growth currently plans to expand its operations into overseas markets, notably Germany, Spain, and Australia.

   The company recently acquired Spektrum Cannabis GmbH to sell medical cannabis in Germany and partnered with Alicaliber S.A. to do the same in Spain.

7. Cronos Group. Headquarters: Toronto, Canada

   Market cap: $710 million
   Revenue: $91.9 million

   Cronos Group was founded in 2012 as a cannabis production and distribution company.

   The company’s main operating facilities are in Los Angeles, California, as well as Toronto and Ontario in Canada. Though one of the smaller companies on this list by revenue, Cronos Group did see a considerable 23% increase in revenue in 2022 alone.

8. TerrAscend. Headquarters: Mississauga, Canada

   Market cap: $510 million
   Revenue: $247.8 million

   TerrAscend is one of the youngest companies on this list, founded in 2017. As of 2022, the company operates cultivation operations in Canada and Maryland, as well as other operations in Pennsylvania, New Jersey, Michigan and California.

   Though the company only operates a few retail stores, so far they have been very successful. Between 2021-2022 the company saw revenue increase by 27.6%.

9. Cresco Labs. Headquarters: Chicago, Illinois

   Market cap: $460 million
   Revenue: $843 million

   Cresco Labs is a vertically integrated recreational and medical marijuana company that operates across nine states in the US.

   The company owns various subsidiaries through which it distributes and sells its products:

   • VidaCann. Cresco Labs acquired VidaCann in 2019 to access its seven retail cannabis locations in Florida. Cresco also acquired 30 licenses for cultivating and manufacturing cannabis products in the state.

   • Origin House. Cresco Labs’ $850 acquisition of Origin House in 2019 is still the largest public company acquisition in the cannabis industry as of early 2021.

     The deal gave Creso Labs access to Origin House’s existing 500 dispensary locations in the state of California.

   • Well Beings. Cresco Labs’ flagship brand for all its products containing only cannabidiol.

   • Sunnyside. Cresco Labs operates 56 Sunnyside-branded dispensaries, through which the company sells wellness-themed cannabis products.

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10. Sundial Growers. Headquarters: Alberta, Canada

    Market cap: $390 million
    Revenue: $230.5 million

    Sundial Growers was founded in 2006 and is still going strong today. The company mainly produces and distributes inhalable products, including vapes, pre-rolls, and flowers. These products are also sold by Sundial Growers under a multitude of brands, such as Top Leaf, Sundial Cannabis, Palmetto, and Grasslands.

    The company operates at least 180 locations in Canada, with the bulk of them located around Calgary.

11. Bakhu Holdings Headquarters: Long Beach, CA

    Market cap: $300 million
    Revenue: $20.91 million

    Bakhu Holdings was founded in 2008 in California and specializes in the production, manufacturing, and sale of cannabis and byproducts.

    The company mainly operates in North and Central America, making it a major player in targeting the Mexican market.

    Additionally, the company also funds cannabis-related research, educates people on medical and non-medical uses, and promotes all medical applications of cannabis.

12. Cara Therapeutics. Headquarters: Stamford, CT

    Market cap: $240 million
    Revenue: $16.6 million

    Cara Therapeutics was founded all the way back in 2004, and is a biotechnology company. The company’s goal is to advance life-changing therapies for people suffering from chronic pruritus, and cannabis research is a part of that pursuit.

    Currently, the company has approximately 84 employees, and unlike others on this list, is not directly involved in retail-related interests.

13. Aurora Cannabis. Headquarters: Edmonton, Canada

    Market cap: $220 million
    Revenue: $39.5 million

    Producing and selling cannabis products around the world, Aurora Cannabis was founded in 2006. In total, Aurora operates in 25 countries, with some of its most prominent locations in Canada, Denmark, Germany, and Italy.

    The company owns five sales licenses and eight licensed production facilities, giving it cannabis production capabilities of over 625,000 kilograms each year.

    Aurora’s top products include:

    • Aurora Drift

    • San Rafael ’71

    • Daily Special

    • Whistler

    • Being and Greybeard

    In addition, the company also sells the CBD brands Reliva and KG7.

14. Columbia Care. Headquarters: New York, NY

    Market cap: $1.39 billion
    Revenue: $511.6 million

    Columbia Care is a high-revenue US cannabis company that was founded in 2012. Back then, the company focused on medical cannabis care and research, as it still does today.

    As of 2023, the company operates in 18 US jurisdictions including: Arizona, California, Colorado, Delaware, Florida, Massachusetts, Maryland, Missouri, New Jersey, New York, Ohio, Pennsylvania, Utah, Virginia, and West Virginia.

15. OrganiGram Holdings. Headquarters: Moncton, Canada

    Market cap: $200 million
    Revenue: $145.8 million

    OrganiGram Holdings is a cannabis company founded in 2010 that offers a variety of recreational brands to consumers.

    The brands offered by this company include:

    • Edison Cannabis Co

    • SHRED

    • Holy Mountain

    • Big Bag O’ Buds

    • Trailblazer

    • monjour

    • Laurentian Cannabis

    • Tremblant Cannabis

Author

Chris Kolmar

Chris Kolmar is a co-founder of Zippia and the editor-in-chief of the Zippia career advice blog. He has hired over 50 people in his career, been hired five times, and wants to help you land your next job. His research has been featured on the New York Times, Thrillist, VOX, The Atlantic, and a host of local news. More recently, he's been quoted on USA Today, BusinessInsider, and CNBC.