Cannabis legalization is storming the world and the cannabis industry is blooming. In recent years, many countries have legalized or at least decriminalized the use of cannabis. Some jurisdictions have made this substance available for medical purposes, while others allow its recreational use.
In 2018, Canada became one of only two sovereign countries in the world that have fully legalized cannabis for both consumption and sale (the other one being Uruguay).
Legalization of cannabis in Canada has created a whole new industry and offered plenty of fresh opportunities for the investors and already existing cannabis companies in the country. In this article, we are going to list the top 5 Canadian cannabis companies today and tell you a little bit about each of them.
Canopy Growth Corporation
Canopy Growth Corp. was founded in 2013 and is headquartered in Smiths Falls, Ontario. They are currently the largest cannabis company in the world, distributing their products across the globe and employing over 3000 workers.
The company specializes in both medical and recreational cannabis distribution. Canopy Growth’s main products include dried flowers, oils, softgel capsules, and hemp. Some of their most recognizable brands include Tweed, Spectrum, CraftGrow, Tokyo Smoke, Doja, and others.
In the fourth quarter of the fiscal year, Canopy Growth reported net sales of over 94 million CAD, reaching a 13% growth from the previous quarter.
Since its foundation in 2006, Aurora has grown to be one of the biggest cannabis producers in Canada and the world. In recent years, they reportedly have a capacity of over 500 tons of cannabis per year. The company recorded a revenue of over $55 million in 2018, but they continue to grow, as their revenue for the quarter ending in March of 2019 was already at $49 million.
Understanding the positive medical effects of cannabis, Aurora Cannabis offers help to both patients and physicians. Once your legit medical documents get approved, you will be able to shop on their website freely.
Aurora Cannabis has a variety of different products from indica, sativa, and hybrid plants. The products come in the form of dried plants, oil drops, and softgels.
Aphria is yet another global cannabis company that operates from Ontario, Canada. It is present on the Toronto Stock Exchange, and also the New York Stock Exchange. In 2018, they had a revenue of almost 37 million Canadian dollars. Aphria is also one of the fastest-growing cannabis companies on the planet since they were founded just five years ago in 2014.
The company claims that its products are 100% greenhouse grown. They are mainly in the business of medicinal marijuana, and they offer dozens of products with different levels of CBD and THC. Aphria has their own professional physicians that are able to prescribe you the right product before you make an order.
CannTrust made its way to the list of top five Canadian cannabis companies by having an exceptional first quarter of 2019, where they had a record quarterly revenue of $16.9 million. At the end of March this year, they had almost 70,000 active patients, which is a significant increase of 70% when compared to the same period of last year.
Also, in 2018, the company won the Licenced Producer of the Year award at the Canadian Cannabis Awards. At their website, you will find a vast range of products that differ by form (oil, capsule, dried), type (indica, sativa, hybrid), and by THC and CBD levels.
The Cronos Group
The Cronos Group produces and distributes its products on over five continents. They also invest in smaller companies and pot growers. Their most famous brands include Cove, Spinach, and Peace Naturals.
For Cronos Group, 2018 was by far the most successful year when they recorded a $7.35 million in revenue. Just in the fourth quarter of that year, they reported a revenue of $5.6 million.
While these are only some of the most profitable Canadian cannabis companies, there are plenty of others who are climbing the ladder of success as we speak. With the new laws that made this substance legal on a federal level, we can expect that the cannabis business in Canada will continue to grow rapidly in the following months and years.