As public sentiment about marijuana usage shifts, recreational use of the drug is exceeding medical use. Marijuana is a psychoactive substance derived from the Cannabis plant that is used medically and recreationally. Recreational use is gaining popularity all around the world. In 2014, Alaska became the first state to legalize marijuana for both medical and recreational use. Only Uruguay and Canada have authorized recreational marijuana for commercial sale. There is a growing movement calling for pot to be legalized for both medical and recreational use. By 2024, the legal cannabis business is expected to be worth more than $63 billion. Sales revenues for Canopy, Tilray, and Trulieve have increased significantly in the last two years. Although cannabis is still prohibited in some countries, it is no longer a crime in numerous states.
Insider Monkey discusses the 15 most valuable weed companies in the world. KushCo Holdings Inc. sits at the bottom of the ranking of the world’s 15 most valuable marijuana companies. The company caters to the marijuana and CBD (cannabidiol) industries with supplementary products and services. The Green Organic Dutchman is a global leader in organically cultivated cannabis cultivation and manufacturing. In 2020, the company’s yearly revenue will be $24.51 million, up 236 percent over the previous year. Neptune Wellness Solutions Inc. is ranked 13th on the ranking of the world’s 15 most valuable marijuana companies. The company’s overall sales increased by 21% to $29.58 million in the fiscal year 2020, compared to the previous year. Cara Therapeutics Inc. is a clinical-stage biotechnology business specializing in the development and marketing of marijuana-based therapeutics. In the fiscal year 2020, the corporation brought in $135.1 million in revenue. Insys Therapeutics, which develops cannabis medications to cure human sickness, has a lot in common with Cara. In the list of the 15 most valuable cannabis firms in the world, HEXO Corp. is ranked 11th. Peppermint oil, marijuana powder, dried flowers, and intimate oils are among the weed items that the company manufactures, processes, and distributes. OrganiGram Holdings Inc. stands at the 10th spot in the list of 15 most valuable weed companies in the world. OrganiGram Holdings Inc. is a leading licensed producer (LP) weed company. In the fiscal year 2020, the company generated net sales of 86.8 million Canadian dollars, an increase of 8% year over year. The company will introduce 62 new stock-keeping units in July 2020. For more details, click 15 Most Valuable Weed Companies in the World.