Insider Monkey

15 Most Valuable Weed Companies in the World

Qasim Aslam
12 min read

In This Article:

In this article we will take a look at the 15 most valuable weed companies in the world. You can skip our detailed analysis of the weed industry, and go directly to the 5 Most Valuable Weed Companies in the World.

Weed is a psychoactive drug developed from the Cannabis plant. Majorly, there are two types of weed products. Weed drugs that are used for medical purposes are prescribed by doctors to cure different diseases. On the other hand, recreational weed is used for personal enjoyment. Recreational use of Marijuana is outpacing its medical use as throughout the world public opinion towards the consumption of weed is changing.

Currently, only Uruguay and Canada have legalized the commercial sale of recreational weed nationwide. However, medical weed is legal in dozens of countries. Weed was made effectively illegal in the United States through the Marijuana tax act of 1937. Alaska became the first state to legalize both medical and recreational use of weed in 2014. As of July 2021, in addition to the District of Columbia (D.C), 18 states in the US have legalized both medical and recreational weed. Additionally, there are 18 states in the US that permit only medical use of weed.

There is a popular movement that calls for the legalization of weed for both medical and recreational consumption throughout the United States. Proponents of this view assert that the legalization of weed would bring new investment opportunities, job growth, and increased tax revenues. According to a survey by Pew Research Center, two-thirds of Americans say the use of marijuana should be legal throughout the United States.

Globally legal cannabis spending increased rapidly during the second decade of the 21st century. The volume of the global weed industry grew vigorously after 2013 as Uruguay became the first country to completely legalize the use of Marijuana for adults. During the last seven years, the global weed spending increased more than sixfold from $3.3 billion in 2014 to $20.6 billion in 2020.

While the COVID-19 proved disastrous for different industries, it has led to robust growth in the weed industry. As the pandemic increased stress and horror among Americans, weed sales skyrocketed in the country. More and more Americans started consuming marijuana to relieve themselves of depression. Resultantly, the legal sales of weed in the United States reached $17.5 billion in 2020, which is 46% higher than that of 2019.

Although the sale of weed is still illegal in different countries, its possession is no more a criminal act in many states. As the attitudes of governments towards weed consumption are changing, the weed industry is expected to continue its growth momentum in the ongoing decade. The fact that almost all the big weed companies including Canopy Growth Corporation (NASDAQ: CGC), Tilray, Inc. (NASDAQ: TLRY), and Trulieve Cannabis Corp. (OTC: TCNNF) recorded significant growth in their sales revenues during the last two years asserts that the weed industry will witness rapid growth in the coming years. The legal cannabis market is projected to reach over $63 billion by 2024.

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