The 12 Largest Cannabis Companies in 2024

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By Team Stash

The cannabis manufacture is booming crossed nan U.S. and Canada. Recreational and aesculapian cannabis products, from oils, edibles, and prerolls to vapes, skincare products, and more, are now portion of a multi-billion dollar industry, and investors are taking notice. According to Grandview Research, nan global ineligible cannabis market is expected to turn astatine a compound yearly complaint of 25.7% from 2024 to 2030.

Several celebrities person fixed a nationalist look to nan cannabis manufacture pinch business ventures and branded cannabis products. As nan usage of cannabis is progressively destigmatized and decriminalized, marijuana stocks are looking for illustration a morganatic finance to galore people. But they’re besides taxable to market volatility owed to ongoing changes to nan ineligible landscape.

Curious astir what benignant of companies are retired there? Here’s nan lowdown connected 12 of nan largest cannabis companies by market capitalization successful North America.

In this article, we’ll cover:

  • Top 6 U.S. cannabis companies
  • Top 6 Canadian cannabis companies
  • What to see erstwhile researching cannabis companies

Top cannabis companies successful nan U.S.

Although cannabis depletion is not yet ineligible connected a national level successful nan U.S. nan past fewer years person seen a emergence successful legalization astatine nan authorities level. Recreational cannabis has been legalized successful 24 states,  2 territories, and nan District of Columbia arsenic of 2024. Several different states and territories let nan waste and depletion of aesculapian cannabis arsenic portion of nan healthcare sector. In August 2023, nan Department of Health and Human Services recommended that nan DEA reclassify marijuana from a Schedule I constituent to a Schedule III substance, meaning that it would move to a lower-risk supplier category. Currently classified arsenic a Schedule I supplier nether nan Controlled Substance Act, marijuana sits alongside high-risk substances specified arsenic heroin, LSD, and ecstasy. And while immoderate senators are calling for nan DEA to deschedule nan supplier entirely, nan DEA does person nan last opportunity for reclassification. 

If approved, nan move to a lower-risk constituent classification would easiness aggregate restrictions that person been holding backmost nan industry. Consumers person responded pinch enthusiasm to this increasing industry. Market capitalization for nan apical cannabis companies successful nan U.S. presently ranges from $740 cardinal to $3.95 cardinal dollars. 

 U.S. cannabis companies by marketplace headdress (as of April 2024):

  1. Curaleaf 
  2. Green Thumb Industries 
  3. Innovative Industrial
  4. Trulieve Cannabis 
  5. Verano Holdings 
  6. Cresco Labs

 1. Curaleaf (CURLF)

Curaleaf operates successful 17 states, has 147 unit locations, and good complete 900 wholesale partner accounts nationwide. The institution prides itself connected its heavy committedness to bettering communities crossed nan U.S. pinch initiatives that reside nan collateral consequences associated pinch marijuana-related offenses. 

In 2023, nan institution announced its plans to adjacent operations successful California, Colorado, and Oregon successful an fierce effort to trim costs. At nan aforesaid time, Curaleaf spent $20 cardinal dollars to get nan largest aesculapian marijuana dispensary successful Utah, Deseret Wellness. At nan extremity of January 2024, nan institution commenced adult-use income successful New York and is presently looking into world markets aft buying Polish aesculapian cannabis usability Can4Med and signing a woody to acquire Northern Green Canada, a licensed cannabis producer.

  • Market cap: $3.95 billion
  • Headquarters: Wakefield, MA  
  • Founded: 2010
  • Cannabis products: Medical and recreational

2. Green Thumb Industries (GTIL.CN)

Green Thumb Industries owns and operates 91 dispensary locations nether various names crossed 15 U.S. states, positive a suite of six cannabis brands. Each marque is designed to entreaty to chopped types of cannabis consumers, from casual to blase to supporters of nonprofits dedicated to creating real, sustained advancement against nan War connected Drugs. 

In nan Summer of 2023, Green Thumb was handed a suit by Cresco Labs alleging they poached a top-level worker while being afloat alert of an existing noncompete clause. Green Thumb has denied this allegation.

  • Market cap: $3.29 billion
  • Headquarters: Chicago, IL
  • Founded: 2014
  • Cannabis products: Medical and recreational

3. Innovative Industrial (IIPR)

Innovative Industrial is nan first and only existent property finance spot (REIT) connected nan New York Stock Exchange focused connected nan ineligible cannabis industry. Operating successful 19 states pinch 108 properties, nan institution owns, manages, and leases business accommodation and immoderate unit spaces to authorities licenced cannabis operators.

  • Market cap: $2.86 billion
  • Headquarters: San Diego, CA
  • Founded: 2016
  • Cannabis products: Medical and recreational

4. Trulieve Cannabis (TRUL.CN)

Founded successful 1990 arsenic Hackney Nursery, Trulieve emerged arsenic a medically-focused low-THC/CBD cannabis company. The institution owns and operates dispensaries and processing accommodation successful 9 states. Trulieve and its CEO, Kim Rivers, person been nether caller scrutiny pursuing nan decease of an worker astatine a Massachusetts processing installation amidst worker efforts to unionize astatine nan firm’s 4 locations there. In nan summertime of 2023, Trulieve announced the closing of Massachusetts locations a nan extremity of June on pinch plans to extremity operations successful nan authorities wholly by nan extremity of nan year.

  • Market cap: $2.29 billion
  • Headquarters: Quincy, FL
  • Founded: 2016
  • Cannabis products: Medical

5. Verano Holdings (VRNOF)

Verano Holdings offers products nether respective marque names astatine 138 unit locations crossed 13 states. The institution focuses connected cultivating signature strains for some aesculapian and recreational products. Like galore others successful nan cannabis industry, nan institution dedicates resources to societal justness causes for illustration LGBTQ equity and financial assistance for those serving situation clip for cannabis-related offenses.

  • Market cap: $2.00 billion
  • Headquarters: Chicago, IL
  • Founded: 2014
  • Cannabis products: Medical and recreational

6. Cresco Labs (CRLBF)

Cresco Labs and its associated brands marketplace themselves arsenic a blase prime for nan mundane cannabis user, operating successful 8 states pinch 71 dispensaries. In nan summertime of 2023, Cresco Labs announced an expanded business pinch Wiz Khalifa’s marque Khalifa Kush to exclusively cultivate, manufacture and administer nan marque successful Massachusetts. And for Super Bowl LVIII 2024,  nan Chicago-based institution released a THC-infused basking helping condiment up of this year’s Superbowl parties.

  • Market cap: $0.74 billion 
  • Headquarters: Chicago, IL
  • Founded: 2013
  • Cannabis products: Medical and recreational
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Top cannabis companies successful Canada

Canada’s national Cannabis Act of 2018 made aesculapian and recreational marijuana usage ineligible crossed Canada for adults 18 and older. Since that time, nan manufacture has grown quickly nationwide. Market headdress for nan apical cannabis companies successful Canada ranges from $380 cardinal to $1.99 billion. 

Canadian cannabis companies by marketplace headdress (as of April 2024):

  1. Tilray
  2. Cronos Group
  3. Canopy Growth
  4. TerrAscend
  5. Sundial Growers
  6. Aurora Cannabis

1. Tilray (TLRY)

Tilray supplies aesculapian cannabis products to patients, physicians, hospitals, pharmacies, researchers, and governments successful complete 20 countries and crossed 5 continents nether various marque names. The institution precocious launched a caller level to thief destigmatize nan usage of aesculapian marijuana successful women’s healthcare. In 2023, Tilray announced its purchase of 8 brew and beverage brands from Anheuser-Busch. 

  • Market cap: $1.99 billion
  • Headquarters: Nanaimo, British Columbia
  • Founded: 2013
  • Cannabis products: Medical

2. Cronos Group (CRON)

Cronos Group offers a wide assortment of THC and CBD products nether 5 marque names. The institution has adopted a trading codification of conduct, promising transparency and age-appropriate trading of recreational cannabis products. In March 2023, nan company’s marque Lord Jones launched its first entry into nan cocoa edibles category.

  • Market cap: $1.04 billion
  • Headquarters: Toronto, Ontario
  • Founded: 2012
  • Cannabis products: Recreational

3. Canopy Growth (CGC)

Canopy Growth operates internationally nether much than 20 marque names. Products scope from vapes and prerolls to tegument attraction products, edibles, infused beverages, Martha Stewart’s statement of CBD products, and more. The institution started 2024 pinch nan announcement of respective caller products for their brands Tween, 7ACRES, and Spectrum Therapeutics. The products scope from oils and softgels to flowers and aesculapian pre-rolls.

  • Market cap: $0.92 billion
  • Headquarters: Smith Falls, Ontario
  • Founded: 2014
  • Cannabis products: Recreational

4. TerrAscend (TRSSF)

Although nan company’s office are located successful Canada, TerrAscend maintains respective ample cultivation accommodation successful 5 U.S. states. Their divers marque and merchandise portfolio includes oils, vapes, edibles, and high-quality dried flower. In 2023, nan institution announced a business pinch world cannabis brand, Cookies, to cultivate and manufacture their products and flavors successful Maryland for in-state patients and early adult-use. 

  • Market cap: $0.69 billion
  • Headquarters: Mississauga, Ontario
  • Founded: 2017
  • Cannabis products: Medical and recreational

5. Sundial Growers (SNDL)

In summation to its cannabis unit banners and brands, Sundial operates 3 celebrated liquor unit banners pinch much than 187 locations crossed Alberta and British Columbia. The institution is committed to “driving regulated merchandise excellence” and offers an extended array of recreational cannabis products.

  • Market cap: $0.58 billion
  • Headquarters: Calgary, Alberta
  • Founded: 2006
  • Cannabis products: Recreational

6. Aurora Cannabis (ACB)

Between its 4 aesculapian and six recreational cannabis brands, Aurora’s world footprint covers 25 countries crossed 5 continents. Aurora’s recreational Greybeard marque won KIND Magazine’s “Best Diamonds of nan Year” Award successful December 2022, and its aesculapian offerings are expanding rapidly. In February 2024, nan institution acquired MedReleaf Australian, a starring supplier of aesculapian cannabis products successful Australia.

  • Market cap: $0.38 billion
  • Headquarters: Edmonton, Alberta
  • Founded: 2006
  • Cannabis products: Medical and recreational

What to see erstwhile researching cannabis stocks

Investing successful marijuana stocks isn’t for everyone. The ineligible cannabis manufacture tin coming a higher imaginable for consequence owed to its volatility and nan ever-changing regulatory landscape. But if, for illustration galore investors, you’re willing successful cannabis investing, do your investigation conscionable arsenic you would erstwhile considering an finance successful immoderate different sector. First, summation an knowing of nan different types of companies and cannabis products they offer. Investigate each company’s guidance team, maturation history, and financial statements. Make yourself alert of nan risks, some legally and financially, and guarantee that you’re fresh and consenting to return those risks.

When it comes to investing successful nan cannabis industry, nan possibilities are wide open, from investing straight successful marijuana stocks to buying shares of companies that connection related products and services. If you’re fresh to adhd cannabis institution stocks to your diversified portfolio, Stash has you covered pinch cannabis manufacture investing options.

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