In a year that saw record-breaking volatility, cannabis stocks were standout performers. The rapidly growing marijuana industry is beginning to mature in North America, and investors are finally getting a glimpse of what the green rush is capable of.

As we move into a new year, growth shows little signs of slowing. In 2021, the 10 fastest-growing marijuana stocks are expected to deliver sales growth ranging from 60% on the low end to as much as 176% on the high end. Let's take a brief look at these rapidly growing pot stocks.

A handful of cannabis buds lying atop a messy pile of cash.

Image source: Getty Images.

1. Jushi Holdings: 176.2% estimated sales growth

Small-cap multistate operator (MSO) Jushi Holdings (JUSHF -8.62%) is expected by Wall Street to take the crown as the fastest-growing marijuana stock in 2021. Jushi, which is predominantly focused on the limited license states of Pennsylvania, Virginia, and Illinois, should benefit from new store openings in Virginia, substantial organic growth in Pennsylvania, and limited competition in these three core states. The company has offered sales guidance of $205 million to $255 million this year, but shouldn't have any trouble coming in closer to the high end of this estimate.

2. Columbia Care: 142.9%

Another MSO with a nose for growth in 2021 is Columbia Care (CCHWF -8.06%). As of mid-December, Columbia Care had 76 operational dispensaries in 18 states, with acquisitions playing a key role in its expansion. For instance, the company purchased The Green Solution in September, which happens to be Colorado's leading vertically integrated cannabis operator. Colorado is currently behind only California in total annual weed sales. According to Wall Street, Columbia Care's revenue should catapult to $464 million this year, from $191 million in 2020.

Multiple clear jars packed with unique cannabis buds on a dispensary store countertop.

Image source: Getty Images.

3. Curaleaf Holdings: 97.8%

Leading U.S. MSO Curaleaf (CURLF -5.43%) looks to be on track to become the first pot stock to surpass $1 billion in annual sales this year. Last year, Curaleaf completed the acquisition of Cura Partners, which owned the Select brand, and purchased privately held MSO Grassroots. With these deals complete, Curaleaf holds in excess of 130 retail licenses and has a presence in nearly two dozen states. State-level legalizations and organic growth should be able to power Curaleaf to recurring profitability this year.

4. Cronos Group: 96.7%

The fastest-growing Canadian pot stock in 2021 is forecast to be Cronos Group (CRON -4.82%), with its sales nearly doubling, per Wall Street. Admittedly, Cronos' sales have been minimal to begin with, so it's starting off from a relatively low base. The opening of new dispensaries in key Canadian provinces (ahem, Ontario), as well as increased uptake of higher-margin derivative products (e.g., cannabis vapes, edibles, and concentrates), should be the primary growth drivers for Cronos this year.

The facade of the Planet 13 SuperStore in Las Vegas, Nevada.

Image source: Planet 13.

5. Planet 13 Holdings: 94%

Planet 13 Holdings (PLNH -5.03%), which is arguably the most unique MSO, slots in as the fifth-fastest-growing cannabis stock for 2021. The company's only operational dispensary is just west of the Las Vegas Strip and spans 112,000 square feet. The Planet 13 SuperStore has seen increased foot traffic and substantially bigger tickets since opening its doors to the public in November 2018. This year, it'll be opening a second location covering 40,000 square feet in Santa Ana, California. Like Curaleaf, and a number of other U.S. MSOs, Planet 13 also expects to turn the corner to profitability in 2021.

6. TerrAscend: 87.3%

It should be a banner year for vertically integrated cannabis operator TerrAscend (TRSSF -2.82%), as well. Like Jushi, TerrAscend's operating model favors limited license markets, like Pennsylvania and New Jersey -- the latter of which recently voted to legalize recreational marijuana. TerrAscend also has a presence in the San Francisco Bay area of California, with wholesale and retail opportunities in a high-income region of the most lucrative cannabis market in the world. Wall Street will be looking for TerrAscend's sales to rocket from $197 million in 2020 to $369 million this year.

Potted cannabis plants growing under special lighting in an indoor cultivation farm.

Image source: Getty Images.

7. Innovative Industrial Properties: 71%

Marijuana-focused real estate investment trust Innovative industrial Properties (IIPR -2.10%) is looking to keep its foot on the gas pedal in 2021. As of mid-December, it owned 66 properties in 17 states, with an average weighted-lease length of 16.6 years. Considering that weed is still illegal at the federal level, Innovative Industrial Properties' sale-leaseback program has become especially popular among MSOs seeking cash. Look for IIP to continue to add new marijuana cultivation and processing sites to its portfolio this year, on its way to potentially topping $200 million in annual revenue. 

8. Cresco Labs: 69%

If you haven't noticed, the big theme in 2021 is U.S. MSO sales growth. Cresco Labs (CRLBF -5.44%) should see it sales skyrocket by 69% on the heels of two key catalysts. First, it'll benefit from opening the maximum number of allowable retail locations in the limited license state of Illinois. The Land of Lincoln should surpass $1 billion in annual weed sales by 2024. And second, Cresco Labs has access to more than 575 California dispensaries via its wholesale operations. As red tape dwindles and new dispensaries open in California, Cresco's opportunity in the world's largest pot market will only grow.

A large cannabis dispensary sign in front of a retail store.

Image source: Getty Images.

9. Harvest Health & Recreation: 60.5%

Yet another MSO with big-time growth potential is small-cap Harvest Health & Recreation (HRVSF). After paring back some of its expansion plans in 2020 to reduce its operating expenses, Harvest Health should benefit from its home state of Arizona voting to legalize recreational marijuana this past November. No MSO has a larger presence in the Grand Canyon State. Wall Street will be looking for Harvest Health to boost its full-year sales to $368 million in 2021, and perhaps even eke out a small profit.

10. GrowGeneration: 60%

Rounding out the list is hydroponic and gardening retail solutions chain GrowGeneration (GRWG -6.30%). GrowGen, as the company is known, had 36 open locations in 11 states, as of mid-November, but aims to have 50 open retail stores in 15 states by the end of this year. Though acquisitions have played a big role in broadening the company's product offerings and geographic reach, same-store sales growth tallied an impressive 73% from the prior-year period in the company's most recent quarter. Wall Street is counting on 60% sales growth from GrowGeneration in 2021.