Anticipating Growing Demand, Earth Science Tech Inc. (ETST) Extends Reach into Burgeoning Cannabinoid Market
- Earth Science Tech is well positioned to take advantage of the exploding cannabinoid industry
- One consumer survey found that nearly 6.9 percent of adults currently use CBD as a supplement
- The CBD product market is estimated to reach $16 billion by 2025, incentivizing all kinds of companies to create inroads into the lucrative space
Earth Science Tech Inc. (OTCQB: ETST), a Florida-based biotechnology company focused on cannabis and cannabinoid research and development, nutraceuticals, pharmaceuticals and medical devices, is well-positioned to take advantage of the growing demand for cannabinoid products by offering the highest purity and quality cannabinoids on the market.
Cannabidiol has been heralded by market analysts as a catalyst for an impending economic boom, and speculation abounds as to its ultimate market impact as legalization trickles through the United States. After the U.S. Farm Bill passed in December 2018, designating hemp-derived CBD as legal under specific stipulations, the CBD product market has taken off. According to a Cowen & Co. analysis, nearly seven percent of Americans are already using CBD products, and estimates set the potential market opportunity for the “much-hyped” cannabis compound at $16 billion by 2025 (http://nnw.fm/0ArJI).
Cowen’s consumer poll of approximately 2,500 adults, taken in January 2019, found that 6.9 percent of those surveyed use CBD as a supplement. This total was “much higher than [Cowen analysts] would have suspected,” according to analyst Vivien Azer. “Conservatively,” Cowen (http://nnw.fm/0ArJI) expects CBD use to grow to 10 percent of U.S. adults by 2025, signifying 25 million consumers and a “$16 billion market opportunity.”
Earth Science Tech’s wholly owned subsidiaries are focused on developing the company’s role as a global purveyor of CBD products, as well as expanding its work in bringing cutting-edge pharmaceutical and medical device offerings to the market. Each of its subsidiaries has a foothold in the CBD market and is focused on increasing revenues and income-stream opportunities.
The company’s cannabinoids are of the highest purity and quality on the market. ETST’s CBD oil is 100 percent natural and organic, and it’s offered in various forms of personal care goods, homeopathies, vitamins, minerals, herbs, botanicals, functional foods and more. Products are available to customers in both retail stores and via the internet for ease of purchase across all 50 states. Earth Science Tech continues to expand its product line and is in the process of developing new products with the goal of extending its reach within the medical cannabis market.
For more information, visit the company’s website at www.EarthScienceTech.com
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer