According to research from the MJBiz Factbook, cannabis product sales grew 46% to $17 billion year-over-year in 2020, and the total U.S. economic impact from sales in 2021 is tipped to top $92 billion—up more than 30% from last year. In this burgeoning sector, here are four cannabis companies to watch.
CBD has proven successful at reducing anxiety, combating insomnia, and treating chronic pain
Cannabidiol (CBD)—a component of marijuana that provides users with numerous health benefits without the high of regular marijuana—is one sector attracting significant attention, with 20% of consumers ranging between the ages of 18 and 29 now using CBD products, according to a 2019 survey conducted by Consumer Reports.
This CBD shopping guide is a great resource to discover legal CBD brands of superior quality at the best price and have them delivered to your home—among them Tilray, Can B, Canopy Growth, and Aurora Cannabis; four companies moving and shaking in the space.
Can B Corp.
Can B trades in the health and wellness sector with CBD products under its own brands “Canbiola”, “Seven Chakras”, “NuWellness”, “Pure Leaf Oil”, and “Duramed”. Can B owns the end-to-end production of its products from its Green Grow Farms operation registered in the state of New York and holding licenses to grow, cultivate, extract, and process CBD hemp.
Can B has a laboratory situated in its Pure Health Products production facility in Lacey, WA. where the company creates, develops, tests, and produces all of its CBD products. The company serves a line of FDA-approved medical devices, including an ultrasound delivery device which is proven to alleviate joint and muscle pain in surgery and accident patients, aid in recovery time, and reduce swelling.
Tilray brings a broad-based portfolio of brands and adult-use products through its wholly owned subsidiary High Park Holdings Ltd delivering high-quality cannabis and cannabis-derived products primarily for global recreational adult-use.
The company also supplies medical cannabis products to tens of thousands of patients in 17 countries on five continents through its subsidiaries in Australia, Canada, Germany, Latin America, and Portugal.
Canopy boasts the largest market capitalization of any cannabis stock—valued at approximately $7.3 billion—buoyed on product varieties such as dried flowers, oils, infused beverages, edibles, softgel capsules, topical formats, and vaporizer devices. Its global medical brand, Spectrum Therapeutics, sells a range of full-spectrum products, while the Tweed and Tokyo Smoke banners serve the vape end of the market.
Aurora Cannabis is a darling of Robinhood stock-holds, announcing an early 2021 $300 million at-the-market offering. Aurora went on to deliver a cannabis shipment worth nearly C$8 million to Israel, one of the largest single shipments of cannabis to that country and a huge step towards international expansion.
Aurora’s brand portfolio includes “Aurora”, “Aurora Drift”, “San Rafael ’71”, “Daily Special”, “AltaVie”, “MedReleaf”, “CanniMed”, and “Whistl”.