The most important thing to keep in mind about CBD is that it does not have any psychoactive effects and supposedly has and array of health benefits. Hence, it has managed to become legal in the United States and many of the companies in the CBD space have already tied up deals with leading retailers. Medical cannabis sales have been rising consistently but, in this regard, it should also be noted that the hemp-based CBD space has also grown at a rapid pace over the course of the past few years and presents another massive opportunity for ONIT.
The other massive cannabis market to consider in North America is Canada. The country legalized recreational cannabis consumption back in 2018 and since then the sector has grown quite rapidly. To understand the impact of legalization, one needs to consider the speed at which the number of patients receiving medical marijuana soared after 2018.
In 2017, the number of such patients stood at 270,000 but by the middle of 2019, the number of patients had soared to as much as 340,000. That is the clearest indication of the sort of growth that CBD products can enjoy in Canada in the coming years. It is quite clear that the recreational market is going to soar as well, and some estimates suggest that the size of the market could soar to as much as $5 billion in 2022.
Now, it goes without saying that if the cannabis companies are to meet such demand, they would also need to ramp up their production capabilities significantly. In addition to that, the growth of the industry will also see a steady rise in demand for high-quality organic cannabis and there lies a big opportunity for a company like ONIT. It is also necessary to point out that cannabis cultivators would also need to keep in mind that consumers are also going to want to consumer products that use as little chemicals as possible.
ONIT Sciences is creating a massive buzz in the cannabis and hemp industries. It’s unique products are disruptively effective, while also being complementary to the thousands of other inputs being used in the industry. The company never touches the plant, and is a clear “picks and shovels” investment—immune from regulatory and banking issues faced by growers, processors, distributors and retailers. Early investors are perfectly positioned to ride the organic wave that is not only affecting cannabis and hemp, but is touching worldwide agriculture markets.
Investor Contact: Jeff Moses - [email protected] - (714) 273-1398