What Are The Largest Canadian Cannabis Brands?
Cannabis was only legalized in Canada in 2018, which means all cannabis brands and businesses within the country are relatively new. However, the relative brevity of the cannabis trade hasn’t impacted the sheer number of business owners getting into the niche and providing customers with a variety of high quality cannabis products. Countless people have seen a huge opportunity for growth and profit in this sector of the market and the number of cannabis brands offering goods to consumers has skyrocketed over the past two years. With so many cannabis brands on the market, it can be difficult to know which are experiencing success or not. But the first sets of financial results since legalization of cannabis have now been submitted, which gives us insight into which cannabis brands are generating the most profit and experiencing the most success. Here are some of the biggest!
Canopy Growth Corp
Based in Ontario, Canopy Growth Corp has an outstanding market capitalization of $4.18 billion. The key to this company’s success may well lie in the fact that they were already the first federally licensed cannabis grower in North America. This gave them a significant head start in the trade and when cannabis sales were legalized in Canada in particular, they were able to thrive. This company also significantly benefited from a huge $4 billion investment from Constellation Brands (an American producer and marketer of beers), which set them up for success. If you’re wondering just how big Canopy Growth Corp are, they generated $90.5 million in the first fiscal quarter of 2020 alone!
Next up, let’s take a look at Cronos Group. This Toronto based cannabis company has a market capitalization of $1.95 billion. While this is significantly less than Canopy Growth Corp, it’s still an eyebrow raising amount. Cronos Group’s strength is its international reach. The company produces and distributes cannabis across five different continents, providing them with plenty of opportunity for profit. They also operate under more than just their own name. They are the owner of multiple cannabis brands, including Peace Naturals, Cove, Spinach, Lord Jones and Peace +. Where this company excels is that it is focused on more than sales. They’re also heavily invested in advancing cannabis research, expanding their already impressive brand portfolio and enhancing customer experience. Cronos Group generated $12.7 million in revenue in the third fiscal quarter of 2019.
Another big contender in cannabis production and sales is Aurora Cannabis. With headquarters in Edmonton, Aurora Cannabis consider themselves pioneers in global cannabis. Their main focuses are the more medical aspects of cannabis use. They aim to help people to improve and advance their health, wellness and lives. Their market capitalization is $865.79 million. They have ownership over an impressive portfolio of brands. Their medical brands include Cannimed, MedReleaf, + Aurora and + WMMC. But this isn’t where their portfolio ends. They manage multiple consumer brands too. These include names like Whistler Cannabis Co, San Rafael, Woodstock, AltaVie, Aurora Drift and Daily Special. As you can see, they have international reach and cultivate and manage production of their products according to the standards of each region internationally. This has helped them to generate an impressive net revenue of $98.9 million.
Last but not least, let’s take a look at Aphria. Aphria claim that they are “the future of cannabis” - and maybe they are! With a market capitalization of $668.57 million, they’re definitely leaders within their field. Their aim is to set the standard as a worldwide leader in the cannabis industry through a diversified approach to innovation, corporate citizenship, strategic partnerships and global expansion. Their brands include medical brands Aphria and Broken Coast Cannabis Ltd, as well as consumer brands such as Solei, Riff and Good Supply. They reported a stand out net revenue of $128.6 million in the final fiscal quarter of 2019.
As you can see, the largest licensed producers of cannabis and the largest cannabis brands in Canada tend to be large parent companies that manage multiple subsidiary companies. These companies pride themselves in the quality of their products and do their utmost to provide quality cannabis to users with cannabis cards. Countless people clearly benefit from and enjoy cannabis products for these companies to be generating such huge profits and experiencing such profound levels of success.If you’re interested in buying cannabis from any of them, it’s definitely worth getting your own cannabis card to benefit from their products!