Cannabis Startups Smoking the Competition 🔥

June 20, 2022

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We're releasing our latest Insight on the Highest Growth Cannabis Startups. Read an excerpt below and see the full list here.

If you live in a metropolitan city, chances are you’ve noticed an uptick in casual marijuana smoking on the city streets and grassy knolls. A recent visit to Washington Square Park in New York City provided ample opportunity to see a cottage industry of marijuana dealers, selling their hand-rolled joints, jars of cannabis, and THC and CBD gummies from California and Denver. For cities that have legalized the recreational consumption of the drug–or plant, depending on whom you ask–the skunk-like stench of the plant might hit you more often than cigarette smoke.

Some Stats
In 2021, legal consumption across the nation rose significantly, reaching a value of $13.2BN, with an anticipated compound annual growth rate (CAGR) of 25.5% from 2022 to 2030. Enrollment in medical marijuana programs saw a four-fold increase between 2016 and 2020, with chronic pain cited as the most common reason for registration. The pandemic brought excesses in drinking, shopping, and, as it turns out, cannabis consumption. Legal marijuana sales increased 120% in 2020 alone.

Where there’s smoke, there’s investment
Investors have taken notice. Our list of the top 25 cannabis companies reveals trends in delivery, e-commerce, B2B software, therapeutics, and beverages. Here’s a closer look at our top 3 companies in cannabis.