The pot industry is full of unknowns, yet investors are very much into the green rush. Global consumer cannabis spending could touch $16.9 billion this year, and marijuana sales worldwide could top $31.3 billion in 2022.

The optimistic forecast is only three years away. Now is the time to pick the pot stocks that are on the verge of growing in epic proportions.

The business outlooks for Neptune Wellness (TSX:NEPT)(NASDAQ:NEPT) and MediPharm (TSXV:LABS) are favourable with the launch of new products in December this year. Both companies are the top names when it comes to extracting cannabidiol (CBD) from cannabis and hemp biomass.

CBD isolates are the main ingredients to create the new products that would be on sale soon. The cannabis producers would rely on Neptune and MediPharm to use innovative extraction and production methods to ensure the products would be of high quality.

The industry’s biggest extraction deal belongs to Neptune. This health and wellness turned cannabis extraction provider has a three-year with fellow cannabis firm The Green Organic Dutchman, or TGOD. Neptune will extract CBD from the 230,000 kilos of cannabis and hemp biomass that TGOD will supply.

Before the TGOD deal, the company had another three-year extraction services agreement with a significant industry player. Neptune will extract CBD from Tilray’s 125,000 kilograms of cannabis and hemp biomass. The deals guarantee Neptune’s cash flow for the next years.

Meanwhile, MediPharm is playing a crucial role in the advancement of CBD and the development of treatments for various medical conditions. The focus of this $571.5 million company is on cannabis concentrates.

MediPharm invests in a state-of-the-art extraction technology that is run by a research-driven team that uses downstream extraction methodologies. Its facilities are capable of producing purified, pharmaceutical-like cannabis oil and concentrates for advanced derivative products. Raking in cash therefore won’t be a problem.

MediPharm Labs’ process is a simple, but a high margin business model. The company receives dry cannabis flowers and trims from its product supply partners then produce cannabis oil concentrate. The end products would be for sale in the global market on a private label basis.

Fire & Flower (TSXV:FAF) has a strong partner to help it capture a significant market share in Canada. The company’s digital platform is among the best locally. But in order to further achieve its goal of becoming a key player in North America’s cannabis industry, Fire & Flower welcomed a strategic investment from Alimentation Couche-Tard.

The cannabis retailer will use the funds to develop its Hifyre digital retail platform, a portion of which is for network expansion to add to the 23 licensed cannabis retail stores Fire & Flower is currently operating.

By combining its best-in-class retailing activities with Couche-Tard’s expertise in scaling retail stores, Fire & Flower could be a real force in the industry. You can also expect this small-cap cannabis specialist to make a big move soon —  it could list on either the NYSE or the NASDAQ.

Neptune Wellness, MediPharm, and Fire & Flower are the budding wannabes with realistic chances of hitting it big in the cannabis industry. It’s your chance to purchase these stocks before the companies separate from the pack.