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Top marijuana companies based on market capitalization US and Canada 2018

There are many marijuana companies within the U.S. and Canada, with some even being publicly traded. According to recent estimates, among marijuana companies that trade on major exchanges, Canopy Growth and Tilray, both Canadian companies, are the top two marijuana companies based on their market share. As of end-2018, Canopy Growth had a market capitalization of 9.3 billion U.S. dollars. The only company from the U.S. that was ranked among the top 10 companies was Scotts Miracle-Gro, which had the fourth highest market cap.

The legal marijuana industry

U.S. sales of legal cannabis have exploded in recent years. The increase in sales of legal cannabis can be attributed to two major events: legalization of recreational cannabis in Canada and legalization of recreational cannabis in California – both events occurred in 2018. The cannabis market for both locations is expected to dramatically increase in coming years with the market size expected to triple by the year 2025.

Recreational marijuana

Marijuana has many uses among consumers. A recent survey among U.S. residents indicated that among those that consume cannabis, the primary reason for consumption was relaxation, followed by stress relief. Marijuana can be consumed in a variety of forms including flower, edibles, concentrates and pills, to name a few. As of 2017, the most favored form of cannabis among U.S. consumers was flower. Despite its popularity, all forms of cannabis remain illegal under U.S. federal law. However, over time the U.S. population has warmed up to the thought of legalizing marijuana. A survey conducted in 2018 suggests that two thirds of U.S. adults think that marijuana should be made legal.

Top 10 U.S. and Canadian marijuana companies based on market capitalization at year-end 2018

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Sources

Release date

2019

Region

North America

Survey time period

as of December 31, 2018

Supplementary notes

Note that five of seven Canadian equities on this list are involved with cultivating and selling the plant. Of the three U.S. firms, Scott’s Miracle-Gro is an agricultural technology firm while both GW Pharmaceuticals and Insys Therapeutics are biotech firms. Canadian-based companies' market caps were calculated based on the exchange rate on December 29, 2017.

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