The cannabis industry in America is experiencing rapid growth, driven by legalization and shifting public perceptions. With this evolution, several companies have emerged as leaders, innovating in cultivation, production, and distribution. This article highlights the top 20 cannabis companies shaping the future of the market.
How Did We Choose the Top Cannabis Companies?
When selecting the top cannabis companies in America, we considered several key factors. These companies have established a strong market presence across multiple states, demonstrating their ability to scale and adapt. Financial performance was another crucial element, with revenue growth and stability reflecting their potential for long-term success. Innovation and product diversity also played a significant role, as companies offering a wide range of products—from traditional flower to edibles, concentrates, and beverages—are better positioned to meet consumer demand. Sustainability practices were also taken into account, with companies that prioritize eco-friendly cultivation and waste reduction ranking higher. Lastly, strong branding and positive consumer recognition were vital, as these companies have earned trust through quality products and consistent service. This comprehensive approach ensures that the companies featured are not only leaders today but also shaping the future of the cannabis industry.
Top 20 Cannabis Companies in America
#1 Curaleaf
Curaleaf is one of the largest multi-state operators (MSOs) in the U.S., with operations across 23 states. The company has over 150 dispensaries and more than 25 cultivation sites. In 2023, Curaleaf reported annual revenue of $1.2 billion, reflecting its dominant position in the market. Known for its product diversity, Curaleaf offers a wide range of cannabis products, including flower, concentrates, edibles, and topicals. The company is heavily invested in expanding its footprint in key states, making it a top choice for both medical and recreational users.
#2 Green Thumb Industries (GTI)
Green Thumb Industries operates in 15 states, with 77 retail locations and 16 cultivation facilities. GTI’s flagship brand, Rythm, is widely recognized for its high-quality cannabis products, and the company recorded a revenue of $1.1 billion in 2023. GTI is also known for its strong emphasis on social responsibility and community involvement, as well as its strategic partnerships and acquisitions to boost market share. With its innovative product offerings and excellent customer service, GTI is a leading player in the industry.
#3 Trulieve Cannabis
Headquartered in Florida, Trulieve has the largest footprint in the state, with over 130 dispensaries across Florida alone and operations in other states like Arizona and Pennsylvania. In 2023, the company generated approximately $1.3 billion in revenue, driven largely by its dominance in Florida’s medical cannabis market. Trulieve is known for its commitment to patient care and has a diverse product range, including flower, concentrates, and tinctures. Its rapid expansion into new markets positions it as a major contender in the national cannabis space.
#4 Cresco Labs
Cresco Labs operates in 10 states with 54 retail locations and 19 cultivation facilities. The company achieved $1 billion in revenue for the 2023 fiscal year. Cresco is known for its premium brands, such as Cresco and High Supply, and focuses on both the medical and adult-use markets. It’s recognized for its emphasis on sustainability, community involvement, and customer satisfaction. The company’s strategic acquisitions, including the purchase of Origin House, have expanded its market reach, particularly in California, the largest cannabis market in the U.S.
#5 TerrAscend
TerrAscend operates in several states, including Michigan, Pennsylvania, and Maryland, with a network of over 20 dispensaries and 7 cultivation sites. In 2023, TerrAscend’s annual revenue reached $350 million, reflecting steady growth in the medical and recreational cannabis markets. The company has a strong commitment to sustainability, using energy-efficient practices in its cultivation and manufacturing processes. TerrAscend is also expanding its product offerings to include edibles and concentrates, further strengthening its position in the competitive cannabis market.
#6 Ayr Wellness
Ayr Wellness operates in 10 states and has over 50 retail locations. The company reported a revenue of $586 million in 2023. Ayr Wellness is known for its high-quality products across the cannabis spectrum, including flower, concentrates, and edibles. The company is focused on large-scale cultivation and retail expansion, and has made strategic acquisitions to enhance its market position. With a commitment to improving access to cannabis and providing customers with a premium experience, Ayr Wellness continues to strengthen its presence across the U.S.
#7 Verano Holdings
Verano Holdings is a vertically integrated cannabis company with operations in 14 states, including flagship markets like Illinois, Florida, and Pennsylvania. The company reported $982 million in revenue for 2023. Verano’s portfolio includes several successful brands, such as Verano, Avexia, and Encore. The company’s focus on providing premium cannabis products, combined with its large cultivation capacity, has helped it solidify its place among the industry’s top performers. With multiple cultivation and manufacturing facilities, Verano is poised for continued growth in the expanding cannabis market.
#8 Ascend Wellness Holdings
Ascend Wellness Holdings is a multi-state operator with operations in 7 states, including Michigan, Illinois, and Massachusetts. In 2023, Ascend reported revenue of $453 million. The company is known for its high-quality products and its customer-centric retail approach. Ascend’s portfolio includes a range of cannabis products, from flower to edibles, and the company is expanding its presence in both medical and recreational markets. Its commitment to innovation and market expansion has positioned Ascend as a strong player in the cannabis sector.
#9 Harvest Health & Recreation
Harvest Health & Recreation operates in 8 states, with more than 40 dispensaries and 10 cultivation facilities. The company reported revenue of $650 million in 2023. Harvest is known for its focus on medical cannabis and its retail network, which is one of the largest in the U.S. The company also places a strong emphasis on quality and sustainability, sourcing cannabis from its own cultivation facilities to maintain high standards. Harvest continues to expand into new markets and is positioning itself for future growth with strategic acquisitions and partnerships.
#10 MedMen Enterprises
MedMen Enterprises is one of the most well-known cannabis retail brands in the U.S., operating in 6 states, including California, Nevada, and Florida. MedMen generated $476 million in revenue in 2023. The company is recognized for its upscale dispensaries, which aim to provide a premium cannabis shopping experience. MedMen offers a wide range of cannabis products, including flower, edibles, and vapes. Despite facing some challenges, including financial restructuring, MedMen remains a significant player in the cannabis retail sector and continues to focus on expanding its brand recognition and retail footprint.
#11 Charlotte’s Web
Charlotte’s Web is a leader in the hemp-derived CBD market, offering a range of wellness products such as oils, gummies, and topicals. The company operates in all 50 states, with a strong retail presence and a focus on quality and transparency. In 2023, Charlotte’s Web reported revenue of $130 million. Known for its pioneering role in the CBD space, the company remains committed to providing consumers with natural and effective hemp-based solutions. Charlotte’s Web has continued to grow by expanding its product line and focusing on the wellness market, particularly with its emphasis on consumer education.
#12 Planet 13 Holdings
Planet 13 Holdings operates the world’s largest cannabis dispensary in Las Vegas, offering a unique and immersive retail experience. With additional locations in California and Florida, the company reported revenue of $150 million in 2023. Planet 13 has become known for its experiential retail model, combining entertainment with cannabis sales. The company’s expansive product offerings include flower, concentrates, edibles, and topicals, with a focus on high-quality cannabis and exceptional customer service. Planet 13’s large-scale dispensaries and retail approach continue to set it apart from its competitors.
#13 Columbia Care
Columbia Care is one of the largest MSOs in the U.S., operating in 18 states and serving both the medical and recreational cannabis markets. The company reported $575 million in revenue in 2023. Columbia Care focuses on providing a wide variety of cannabis products, including flower, edibles, and oils. With an emphasis on quality control, customer satisfaction, and expansion into new markets, Columbia Care is poised for continued success. The company’s acquisitions and its focus on improving patient care make it a significant player in the cannabis industry.
#14 Jushi Holdings
Jushi Holdings operates in 8 states and has a portfolio of popular cannabis brands, including The Bank, Nira + Medicinals, and Tasteology. Jushi reported a revenue of $615 million in 2023. The company is known for its high-quality medical cannabis products and expanding retail network, with a focus on patient care and innovation. Jushi’s success is driven by its strong cultivation facilities, high standards in manufacturing, and strategic retail expansion. With continued growth in key markets, Jushi is positioning itself as a leader in the cannabis sector.
#15 4Front Ventures
4Front Ventures operates in several key states, including Massachusetts, Illinois, and Washington, with a strong presence in both cultivation and retail. The company generated $180 million in revenue in 2023. 4Front Ventures is known for its affordability, providing cannabis products at competitive prices without compromising on quality. The company operates both retail dispensaries and large-scale cultivation facilities, making it one of the more vertically integrated companies in the market. 4Front’s strategic approach to scaling operations and managing costs has allowed it to expand rapidly in a competitive landscape.
#16 Acreage Holdings
Acreage Holdings is a multi-state cannabis operator that focuses on both medical and recreational cannabis markets. The company operates in 13 states with a mix of cultivation, processing, and retail locations. Acreage reported $450 million in revenue for 2023. The company is backed by Canopy Growth, one of the largest cannabis companies in the world, which has significantly influenced Acreage’s strategic direction. Acreage is expanding rapidly and has a strong presence in markets such as Illinois, Pennsylvania, and Florida. With its strong financial backing and expanding product portfolio, Acreage is positioning itself for continued growth.
#17 iAnthus Capital Holdings
iAnthus Capital Holdings operates in several states, including New York, Massachusetts, and Florida. The company focuses on providing high-quality cannabis products through a combination of cultivation, processing, and retail outlets. iAnthus reported a revenue of $250 million in 2023. Despite facing financial challenges in recent years, the company continues to operate strategically, focusing on expanding its footprint in key markets. iAnthus is working on improving its financial stability and scaling its operations to remain competitive in the fast-growing cannabis industry.
#18 Cronos Group
Cronos Group is a global cannabis company that has recently made a strong push into the U.S. market. The company operates in several states and focuses on the production of cannabis-based products for medical and recreational use. In 2023, Cronos generated $300 million in revenue. The company is known for its strong commitment to research and development, particularly in the area of cannabis-based pharmaceuticals. With backing from major investors like Altria, Cronos Group is continuing to expand its U.S. operations and diversify its product offerings, including cannabis-infused beverages and edibles.
#19 Canopy USA
Canopy USA, the American arm of Canopy Growth, operates in several key U.S. states, focusing on both recreational and medical cannabis markets. The company reported $420 million in revenue in 2023. Canopy USA offers a range of cannabis products, including flower, concentrates, and edibles, and is working on expanding its footprint in both retail and cultivation. Canopy USA is positioned to leverage its strong brand recognition and its parent company’s resources to grow its presence in the competitive U.S. market.
#20 Sundial Growers
Sundial Growers operates in Canada and the U.S., with a focus on producing high-quality cannabis products, including dried flower and pre-rolls. The company reported $120 million in revenue for 2023. While its focus has historically been on the Canadian market, Sundial is increasing its footprint in the U.S. through strategic acquisitions and market expansion. The company is known for its commitment to sustainability and quality in its products, and it is working on expanding its product lines to include more diverse cannabis offerings, such as edibles and beverages.
