Here are the most (and least) popular Canadian cannabis companies
A research company called Leger recently put together a poll about the biggest Canadian cannabis companies (as Canada is currently one of the biggest markets for cannabis in the world — at least until the US legalizes), and the results are pretty interesting. The survey was done twice, once in January of this year, and once in July, and it’s a sign of how quickly the cannabis market is changing that both sets of results are pretty different.
Aurora Cannabis, who we’ve talked about before, is the most popular company by a pretty long shot. Each company in the survey is given a score based on the percentage of people who had heard of them or liked or disliked the company. Back in January, Aurora’s score was 18, 4 points higher than anyone else on the list. 55% of people polled had heard of Aurora (which is based up in Edmonton and going gangbusters), and 21% of people polled had a good opinion of them. By July, the score had fallen to 9, with more people saying that they didn’t know enough about the company to have an opinion.
In January, the scores basically went down the list of the biggest companies we’d heard about: Canopy Growth was in second place with a score of 14, CannTrust Holdings was after them, and then Organigram Holdings came in 4th. Tilray, though doing fairly well financially, was down in place #9, and Auxly Cannabis Group (which is based in Edmonton and has seen its stock price go up and down all year) was dead last.
Leger Cannabis Producers Reputation (January 2019)
Aurora Cannabis (score: 18)
Canopy Growth (14)
CannTrust Holdings, Inc. (6)
OrganiGram Holdings Inc. (6)
HEXO Corp (5)
Cronos Group Inc. (5)
The Green Organic Dutchman Holdings (5)
The Supreme Cannabis Company (5)
Emerald Health Theraputics (4)
Namste Technologies Inc (3)
Vivo Cannabis Inc (2)
Wayland Group (2)
Auxly Cannabis Group Inc (2)
Six months later in July, however, the findings are a different story. Aurora and Canopy are still on top, but Tilray has moved up (no doubt thanks to its continuing success), and there’s a lot of new names on the list. CannTrust Holdings, after running afoul of the law by growing before permits were in place, has fallen to the bottom of the list with a score of -1. There’s quite a few name changes as well — these companies are spending millions to build facilities, acquire other companies, and try to set up a brand structure that takes advantage of the market as well as possible.
Leger Cannabis Producers Reputation (July 2019)
Aurora Cannabis (9)
Canopy Growth (7)
HEXO Corp. (4)
Cronos Group Inc (3)
Organigram Holdings Inc (2)
The Green Organic Dutchman Holdings (2)
Namste Technologies Inc (2)
The Flowr Corporation (2)
Emerald Health Theraputics (2)
The Supreme Cannabis Co. Inc (12)
Vivo Cannabis Inc (1)
West Leaf (1)
Newstrike Brands (1)
Wayland Group (1)
Auxly Cannabis Group (0)
Mera Cannabis Corp. (0)
CannTrust Holdings (-1)
With all that variability, the real takeaway here is probably that it’s still anyone’s game at this point. Certainly Aurora and Canopy are two of the biggest cannabis companies in the world, but both companies are still spooling up as quick as they can, and the final prize of taking over the US market is still not even yet available. CannTrust’s fall (the company has had to lay off 180 people already, and is frantically trying to get into compliance) also shows that if you don’t play by the rules and grow responsibly, you can lose your reputation very quickly.
You can see Leger’s full report on its website. Undoubtedly, these rankings will probably change a lot again before next January (and edibles, which are rolling out in Canada this December, might also have a big effect here). The cannabis industry is already big, and it’s set to get even bigger as we move forward, so it’ll be interesting to see how these companies can navigate through all of the chaos and hopefully reach success.