Alternative Consumption Methods That Are Reshaping the Cannabis Industry
Ryan Allway
July 30th, 2019
App, Exclusive, News, Top News
The cannabis industry is projected to reach $66.3 billion by 2025, according to Grand View Research, representing a 23.9% compound annual growth rate. While cannabis flower began as the largest subset of the market, concentrates and edibles have quickly gained market share over the past several years. The medical cannabis industry has also seen a lot of interesting research and development designed to improve treatment options.
In this article, we will take a look at key trends in both recreational and medical cannabis consumption methods, and how companies like Cannova Medical Ltd. (49% owned by Nabis Holdings Inc. (CSE: NAB) (OTC: INNPF) (FRA: 71P)) are positioning themselves in the market.
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Concentrates Outpace Flower Sales
Cannabis concentrate sales are projected to reach $8 billion by 2022, according to BDS Analytics and Arcview Market Research, making them the fastest growing segment of the local cannabis market. With vape pens becoming increasingly popular, the analysts believe that the vaporizers will represent about $6.5 billion of the $8 billion in concentrate sales — making vaporizers the fastest growing subset of the space.
While cultivators benefit from lower production costs — since there’s no need to trim or cure product, concentrates take up less space for distributors to house and transport and they have higher profit margins that make them attractive to retailers. There may also be long-term environmental benefits to concentrate production since outdoor production is more viable and there’s less waste with longer shelf lives than cannabis flower.
Beverages represent another key subset of the concentrates market poised for rapid growth in the recreational side of the market. Many alcohol companies have already made investments in the space in anticipation of THC-infused beverages becoming popular among consumers, while traditional beverage giants have started to explore investments in the space with regards to non-psychoactive CBD-infused beverages.
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Innovations in Medical Cannabis Delivery
Cannabis flower, concentrates and edibles may be the three categories that most analysts and investors focus on, but innovative new products are transcending these labels — particularly in the medical cannabis space. Medical cannabis users often require precise dosages that are difficult to obtain reliably at dispensaries, while they may not be comfortable with smoking or vaping as a delivery mechanism for medical reasons.
Cannova Medical Ltd., which is 49% owned by Nabis Holdings Inc. (CSE: NAB) (OTC: INNPF) (FRA: 71P), has developed a patented sublingual strip technology designed to be more convenient for consumers than smoking, vaping or consuming oil. With its patented countertop device, consumers can access precise and personalized doses of THC, CBD and other active ingredients to meet their unique, requirements in real-time.
“The possibilities are incredibly exciting. From a medicinal perspective, alternative means of consumption widen the consumer demographic to reap the benefits of medical cannabis. On the retail side, the profit margins are higher on new technology products as opposed to edibles and flower, making them attractive to dispensary owners.”, says Nabis Holdings CEO Shay Shnet.
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The cutting-edge platform designed for home use looks similar to a countertop espresso or coffee machine. After inputting their specific requirements, users can easily create sublingual strips that are designed to mask the unpleasant taste of cannabinoids, increase their bioavailability, and reduce their onset time by bypassing liver metabolism. The goal is to provide a consistent experience that’s personalized for each individual.
Trends to Watch in the Future
Cannabis consumption methods have evolved from smoking cannabis flower to vaping, edibles, beverages and other categories. Within the medical cannabis market, there has been even greater focus on innovative R&D projects designed to improve convenience, dosing and bioavailability. Many physicians are hesitant to prescribe medical cannabis due to the lack of consistent dosing and measurability compared to pharmaceuticals.
Those interested in investing in these trends may want to consider companies like Nabis Holdings Inc. (CSE: NAB) (OTC: INNPF) (FRA: 71P) given its investment in the space. In addition to its investment in Cannova Medical, the company is building a portfolio of cultivation and retail facilities in states like Arizona, California and Michigan with a focus on companies capable of adding near-term EBITDA with shareholder-aligned incentives.
For more information, visit the company’s website at www.nabisholdings.com.
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About Ryan Allway
Mr. Allway has over a decade of experience in the financial markets as both a private investor and financial journalist. He has been actively involved in the cannabis industry since its inception, covering public and private companies.
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