- New
analysis by Cowen & Co. sees market for CBD products in the U.S.
reaching $16 billion by 2025
- Dispensaries
and health care practitioners included in expanded markets for ETST’s CBD
line under new distribution agreements
- Cowen
& Co. research projects that cannabis-based products will reach 10
percent of U.S. adults by 2025
Earth Science Tech Inc. (OTCQB: ETST), a biotech company
focused on the nutraceutical and pharmaceutical fields, is expanding its
full-spectrum cannabidiol (CBD) product distribution in wider markets as a new
study by Cowen & Co. sees cannabis products reaching $16 billion in the
U.S. by 2025 (http://ibn.fm/k7QKt).
ETST’s larger market includes pharmacies, dispensaries, health care
practitioners, athletic clubs, clinics and chiropractors throughout the United
States (http://ibn.fm/WhXk1).
Cowen & Co.’s research shows that 6.9 percent of
Americans say they are already using CBD. A January survey of 2,500 adults found
that CBD use is highest among adults aged 18 to 34. Tinctures (liquid extracts)
dominate the market and were named by 44 percent or respondents, followed by
topicals at 26 percent, then capsules and beverages.
“This initial response piqued our interest considerably, as
it was much higher than we would have suspected,” analyst Vivien Azer said in a
news release. As a result, Cowen sees CBD use growing to 10 percent of U.S.
adults, or 25 million consumers, by 2025, implying a $16 billion market
opportunity, as noted by Azer.
ETST has reached agreements with CannaBiz and Desert Sun
Distribution to sell its line to chiropractors, dispensaries, pharmacies,
health care practitioners, athletic clubs and clinics in the United States,
providing deeper reach into the market (http://ibn.fm/BUrRx). In a news release, ETST Chief Sales
Officer David Burbash said, “We see tremendous synergy between our CBD line and
the health care practitioner and pharmacy spaces.” ETST is also increasing the
size of its sales team.
ETST’s full-spectrum cannabinoids offer analgesic pain
relief and anxiety reduction, per company marketing material. ETST offers
cannabinoids in the form of soft gels, tablets, liquids and other forms
classified as food-based and permissible in all 50 states and some 40
countries.
For more information, visit the company’s website at www.EarthScienceTech.com
NOTE TO INVESTORS: The latest news and updates
relating to ETST are available in the company’s newsroom at http://ibn.fm/ETST
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