LONDON--(BUSINESS WIRE)--Technavio has announced the top seven leading vendors in their recent cannabis market in the US 2015-2019 report. This research report also lists 16 prominent vendors that are expected to impact the market during the forecast period.
Competitive vendor landscape
The cannabis market in the US is highly diverse and hosts many domestic players, including suppliers, cultivators, retailers, and venture capital firms. This market is vulnerable to various legal and financial challenges, thus facilitating inorganic growth within the market. In this scenario, various investors, retailers, and vendors are seeking strong partnerships with manufacturers/producers in order to ensure continuous supply of the product, as well as to meet government norms, thus avoiding any legal implications.
“Currently, the market is in its nascent stage, with the legalization of medical cannabis in 23 states, Washington D.C, and the District of Columbia, and recreational use only in a few states, thereby limiting the growth of the market. However, the market has huge growth potential and is thus gaining the attention of several vendors in the country,” says Abhay Sinha, lead research analyst at Technavio for health and wellness industry.
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American Cannabis
American Cannabis was incorporated in 2001 and is headquartered in Denver, Colorado, US. The company provides solutions for businesses operating in the cannabis industry in the US and Canada. The company offers consulting services for companies associated with all stages of development in the cannabis industry right from business planning to license application, and regulatory compliance.
The company also engages in providing equipment and supplies for the cannabis industry such as suitable organic soil, cultivation cube, and high density racking systems.
Greengro
Greengro was founded in 1996 and is headquartered in Anaheim, California, US. The company designs, produces, and commercializes green and eco-friendly vertical cultivation systems in the US. It also provides nutrient mixers, flux lighting products, tea brewers, home units, table stands, cloning systems, and management and consulting services.
It also focuses on marketing automatic watering systems, lights, hoods, nutrients, and fans under its brand GreenGro. It also has BP Gardens, which focuses on using its innovative technologies and production methods for crop protection and for growing high-quality and leafy green produce all year round.
mCig
mCig was founded in 2010 and has its headquarters in Beverly Hills, California, US. The company produces, commercializes, and distributes vaporisers, electronic cigarettes, and accessories. The company distributes its products under mCig and VitaCig brand names. It was founded as Lifetech Industries and changed its name in 2013.
The company offers services and solutions that help meet the requirements of dispensaries, growers, and customers.
Medical Marijuana
Medical Marijuana is an investment holding company that operates in the medical marijuana and industrial hemp markets.
Medical Marijuana has built a wide portfolio of cannabis companies and brands. The company offers its products through the following brands: Real Scientific Hemp Oil, Dixie Botanicals, CanChew, Bong, Cibaderm, Cibdex, HempVAP, Holy Grail Vapes, Kannactive, and KannaKick.
Mentor Capital
Mentor Capital was founded in 1985 and has its headquarters in Ramona, California, US. The company is a private equity firm that specializes in acquisitions. It focuses on offering passive equity funding and liquidity to small owners and companies in the cannabis and marijuana sector.
The company has made many cannabis and non-cannabis related investments such as the Bhang Chocolate Company. This company partners with the local producers of cannabis to focus on manufacturing Bhang chocolate bars with measured doses of cannabis derived CBD and THC. These bars are made for medicinal and recreational use. It plans on expanding into the marijuana-related products field as well into financing marijuana dispensaries through Bhang Financials (supplies financial processing services). Both these companies are listed under the portfolio of Mentor Capital.
Terra Tech
Terra Tech was founded in 2008 and has its headquarters in Irvine, California, US. The company, along with its subsidiaries, focuses on designing, commercializing, and selling hydroponic equipment along with patented technology for making sustainable solutions in cultivating indoor agriculture.
It focuses on producing hydroponic produce and cannabis products. It also focuses on cultivating and producing medical marijuana and the operation of dispensary facilities all over Nevada through MediFarm.
United Cannabis
United Cannabis was originally formed as a California Corp under the name MySkin in November 2007. MySkin provided management services to a medical spa in Los Angeles, California, which provided various skin care services.
The company has a wide knowledge base across the spectrum of the cannabis industry, including engineered facilities, regulatory compliance, security, genetics, good manufacturing practices, cultivation, proprietary extraction methods, retail operations, marketing, branding, and wholesale distribution.
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About Technavio
Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.
Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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