For more than 15 months, cannabis stocks have been mired in a relatively precipitous downtrend. Growing pains are common with all next-big-thing investments, and the marijuana industry is no different. Regulatory-based supply problems in Canada, high tax rates on legal weed in select U.S. states, and financing issues throughout North America have all created a wall of worry for the cannabis industry.

But just because the marijuana industry is maturing doesn't mean growth will come to a standstill. There are, in fact, 10 pure-play pot stocks expected to deliver consensus sales growth (as defined by Wall Street) of at least 60% in 2021, if not considerably higher.

An assortment of cannabis buds laid atop a messy pile of cash.

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1. Cronos Group: 124% sales growth

Don't be too fooled by Cronos Group's (CRON -0.42%) big sales jump, considering that it's starting from a fairly small revenue base. Cronos has struggled to deliver dried cannabis output that's commensurate with a company of its size but should begin to benefit from an uptick in derivative sales during the second half of 2020 and throughout 2021. As a refresher, tobacco giant Altria Group is an equity investor with a 45% stake in Cronos, and their partnership should lead to a focus on growing vape sales.

2. Planet 13 Holdings: 116% sales growth

Planet 13 Holdings (PLNH.F 2.29%), a vertically integrated dispensary operator headquartered in Nevada, is the only other pot stock on course to more than double its sales next year. This is partially because tourism is way down in Las Vegas, which is where Planet 13's SuperStore is located. Sales at the SuperStore are expected to retrace 21% in 2020 before rebounding significantly in 2021. Additionally, Planet 13 will be opening its second huge cannabis dispensary in Santa Ana, California. This'll be another key sales-growth driver.

3. MediPharm Labs: 93% sales growth

Strong sales growth should be expected from Canada's MediPharm Labs (MEDIF 0.72%), which is a processor of cannabis and hemp biomass. Between Health Canada delaying the launch of derivatives and the coronavirus pandemic, processors like MediPharm have faced a number of adversities in recent months. However, the continued growth of alternative-consumption options, such as edibles and infused beverages, as well as Ontario finally opening more dispensaries, should give MediPharm Labs a healthy boost in demand for its services.

A green highway sign that reads, Welcome to California, with white cannabis leaf in the upper right corner.

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4. Cresco Labs: 78% sales growth

Following its acquisition of Origin House, U.S. multistate operator (MSO) Cresco Labs (CRLBF -1.00%) is forecast to deliver 78% sales growth next year. Some of this growth can be attributed to opening new dispensaries in Illinois, which waved the green flag on adult-use weed sales on Jan. 1, 2020. But a significant uptick in sales is likely the result of Cresco gaining access to almost 600 California dispensaries, courtesy of Origin House's cannabis-distribution license in the Golden State.

5. Curaleaf Holdings: 78% sales growth

Absolutely no surprise here! Curaleaf Holdings (CURLF -2.43%) is the largest U.S. MSO by market cap, as well as by operational dispensaries (57). It recently completed the acquisition of the Select brand of cannabis products, and is expected to close on its buyout of privately held MSO Grassroots later this year. Curaleaf should enter 2021 with more than six dozen open dispensaries, a bounty of processing and cultivation sites in almost two dozen states, and plenty of organic growth potential to boot. 

6. HEXO: 68% sales growth

Despite closing and then selling the Niagara facility that was acquired in the 2019 Newstrike Brands acquisition, as well as reducing its cultivation space at its flagship Gatineau campus, HEXO (HEXO) is expected to chime in with 68% sales growth next year. There's a good chance that most of this growth is going to come from the combination of more cannabis retail outlets opening in Canada and consumers upping their purchases of higher-priced derivatives. Just be careful not to mistake HEXO's sales growth for strength, as this company could be facing delisting from the New York Stock Exchange.

Cannabis plants growing in a hybrid greenhouse with multiple fans.

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7. Innovative Industrial Properties: 67% sales growth

Marijuana-focused real estate investment trust (REIT) Innovative Industrial Properties (IIPR 2.41%) is also growing at a rapid pace. As of this past week, it owned 59 cultivation or processing sites in 16 states that were leased out for a weighted-average length of 16.1 years. For context, Innovative Industrial Properties owned only 11 assets when 2019 began, so it's been growing its portfolio very aggressively. As long as federal banking reform in the U.S. remains a pipe dream, IIP's sale-leaseback program with U.S. MSOs should keep paying dividends. 

8. OrganiGram Holdings: 66% sales growth

Somewhat similar to its Canadian peers, New Brunswick-based OrganiGram (OGI 0.53%) should see sales soar in 2021 because of additional dispensaries opening -- which will remove supply bottlenecks -- and the purchasing of more derivative products. OrganiGram has bet big on derivatives, with the company devoting 15 million Canadian dollars to equipment designed to produce up to 4 million kilos of infused chocolates a year. OrganiGram also developed a proprietary dried-powder formulation that can be added to beverages to speed up the process by which cannabinoids take effect.

9. Harvest Health & Recreation: 65% sales growth

Although U.S. MSO Harvest Health & Recreation (HRVSF) bit off more than it could chew and has been pulling back on its aggressive expansion plans, it's still forecast to grow sales by 65% in 2021. The biggest catalyst for Harvest Health is the expected legalization of adult-use weed in Arizona during the November election. Harvest Health has the largest presence in the Grand Canyon State among MSOs (14 open dispensaries), putting it in great position to soak up additional sales next year. 

A finger holding cannabis leaves in front of a globe of the Earth.

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10. Canopy Growth: 61% sales growth

Last but not least is the largest marijuana stock by market cap, Canopy Growth (CGC -1.01%). Even with new CEO David Klein reining in expenses big time and putting a stop to the company's aggressive acquisition strategy, Wall Street projects that the leaner Canopy Growth will grow sales by a healthy 61%. Growth in Canadian dispensary count will undoubtedly play a role here, but Canopy's international sales should also be a key revenue driver.