When was the last time you walked through the high street without seeing a CBD product? The industry is booming and now is a better time than ever for cannabis companies to step into the limelight.
After all, global spending on legal cannabis is expected to grow 230% to $31.3% billion in 2022 and the savviest companies could turn a huge profit.
Below, we take a look at five different cannabis companies, what they do, and how they are leading the market.
Aurora Cannabis Inc (ACB)
Aurora Cannabis Inc (ACB) is a Canadian company that centres around the cultivation of medical cannabis. It is the second largest cannabis company in the world by market capitalisation and is set for further growth due to its recent acquisition of MedReleaf. This $250 million deal is thought to be the world’s largest marijuana deal so far.
These cannabis companies share the same goal of removing barriers to medical marijuana. ACB has a state-of-the-art facility in Alberta for cultivating different strains of the drug, from sativa right through to milled blend. Access to their products is through online registration. Patients will just need to provide a prescription that has been approved by a medical health practitioner.
Other cannabis companies are leading the way in pharmaceuticals. AbbVie, a company founded in 2013, uses its research and development expertise to target “difficult-to-cure” diseases. It has brought synthetic cannabis-based drug to the market, known as Marinol.
Marinol (dronabinol) is a prescription medicine that can be used to treat nausea caused by chemotherapy and a loss of appetite in people who have lost weight due to HIV related conditions. It is a controlled substance that is only prescribed in cases where patients don’t respond to normal medicines. Marinol is only the tip of the iceberg for AbbVie as it’s not their flagship product. It will be interesting to see what else their research could bring to market in the future.
Scotts Miracle-Gro Company (SMG)
As more cannabis companies come to the forefront, so do their day-to-day operational needs. Growing and packaging are also important aspects within the industry and Scotts Miracle-Gro Company identified the market gap to expand the business when its core growth had slowed.
In a $450 million deal, the company acquired Sunlight Supply Inc, a hydroponic equipment maker and merged it with its hydroponic gardening subsidiary Hawthorne.
“Combining Hawthorne’s industry-leading product portfolio with Sunlight’s unparalleled distribution capabilities and complementary portfolio will benefit consumers and all stakeholders in the hydroponic marketplace,” said Scotts Chief Executive Jim Hagedorn shortly before the acquisition.
General Cannabis Corp (OTC:CANN)
Some cannabis companies offer business services stocks ranging from real estate to security. General Cannabis Corp offers these services and more, including consulting and business development. Its website states that General Corp and its subsidiary brands “bring proven experience, legitimacy, reliability and authority to the industry”.
General Cannabis offers five different divisions to its portfolio of businesses and consumers. These cover consumer goods, capital investments, real estate, cash transportation services, and operations consultant and products.
Heineken NV (HEINY):
Some companies may well be concerned that the rapid growth of the cannabis industry could outpace their own. This is largely true for alcohol and tobacco companies, where cannabis – particularly CBD products – offer an alternative to the consumer.
Heineken NV has already created beverage offerings in this arena. This includes a THC- and CBD-infused sparkling water called Hi-Fi Hops.
These are just some of the cannabis companies that are leading the industry forward, but there are many more coming to the forefront. If you want to know more about the industry, companies to watch out for, and how they are dealing with regulation, make sure you follow The Leaf Desk.