Point Roberts WA, Delta BC
-- August 28, 2019 -- InvestorsHub NewsWire
-- Investorideas.com, a leading
investor news resource covering cannabis and pet stocks releases a
snapshot reporting on the continued growth in both product
development and availability in the CBD pet product market as more
companies enter the space and consumer awareness and demand
increase.
In a recent news article, “In
the U.S., sales of CBD products for all species are approaching
US$500 million, reported David Lummis, lead pet market analyst for
Packaged Facts, in a column in Pet Product
News. Citing data reported by the
Washington Post, he said those sales are projected to soar to as
much as US$22 billion by 2024.”
The article continued,
“Packaged Facts’ own data
shows that sales of CBD products for pets specifically are
only a fraction of the total, about U.S.$25 million, but growing
quickly. Among U.S. pet owners surveyed by Packaged Facts, 39% of
dog owners and 34% of cat owners agree they like the idea of CBD
supplements for their pets. Additionally, 29% of dog and cat owners
agree they would be interested in purchasing CBD supplements for
their pets if they were legal.”
“Through the years, the pet
supplements market has benefited from the popularization and
cross-over of various ingredients from the human side, such as
glucosamine and omega fatty acids,” says David Sprinkle, research
director for Packaged Facts. “Looking back, however, it’s hard to
recall anything making more of a splash in both human and pet
supplements than CBD.”
American Premium
Water Corporation (OTC: HIPH) recently
announced that its Lynks CBD Pet Water, a joint venture with
Link Reservations Inc. (OTC: LRSV) is now available
for sale on SingleSeed.com. The
Company is launching Lynks CBD a day earlier than the previously
announced date of August 29th. The CBD used in this
product is hemp-derived.
American Premium Water
Corporation CEO, Ryan Fishoff stated “I’m happy to announce that
Lynks CBD Pet Water is now available for sale on SingleSeed.com!
This product was fast tracked for development in the spring, and we
were able to deliver it early! Beverages designed for pets has been
an overlooked category in the pet space. There are very few
pre-packaged waters designed for pets available in the marketplace,
and certainly none that are infused with our proprietary Hydro Nano
CBD technology. I am confident that Lynks CBD will quickly
establish itself as the market leader in the pet sector. We’re
really excited that the Company now has a product to enter the pet
market, one of the largest consumer markets in the
world.”
Rene Lauritsen, CEO of
LinkRes Pets commented, “Today is a great day for our Company. We
are excited to expand our offerings for pets and enter the pet
beverage market. This product is quite revolutionary; there aren’t
many pet beverages on the market, and we are quite confident we
will be able to grab significant market share with this product. We
have received a number of inquiries from retailers looking to carry
this product; I look forward to working with Ryan and his team on
fully developing the distribution strategy for Lynks CBD Pet
Water.”
The American Pet Products
Association estimates that the US pet product industry will be
worth over $75 billion in 2019. The Brightfield Group projects that
the CBD Pet Product Market will represent over $1.5 billion in
sales, of an estimated $23 billion CBD market by 2023. Pet owners
are typically more affluent, as a research report by Research and
Marketing estimates that over 55% of US households own a pet, and
of that group, they are more likely to be in a higher income
household than non-pet owners.
CBD Unlimited,
Inc., formerly known as Endexx Corporation
(OTC: EDXC), a provider of
innovative phytonutrient-based food and nutritional
products, recently exhibited at
SuperZoo.
At SuperZoo, the Company
exhibited its veterinarian-approved Phyto-Bites and Soft Chew CBD
pet products which are THC-free, neither heated nor baked, and
involve a dual-delivery method to provide effective and safe
absorption. CBD Unlimited looks forward to continuing to promote
this unique product line and highlighting the benefits that cats
and dogs can receive from CBD.
CBD Unlimited's Chief
Medical Officer, Dr. Daniel Kiddy, has assisted the Company with
its analysis of cannabinoids and its effects on each delivery
system. From years of continuous research, CBD Unlimited prides
itself on formulating properly dosed products ranging across
several pet sizes including cats, dogs and horses. The Company’s
one-of-a-kind technology delivers CBD to both CB1 and CB2 receptors
in the Endocannabinoid System.
“CBD Unlimited is passionate
about formulating the best products for our four-legged friends
that provide optimal results,” CEO & Chairman Todd Davis
stated. “Our CBD-infused Soft Chews are proven to have one of the
most expeditious and effective delivery systems. We are excited
about this opportunity to demonstrate the positive effects of CBD
for families’ loved ones.”
Medical Marijuana,
Inc. (OTC: MJNA), recently announced that its
subsidiary HempMeds® has released its
Hemp for Pets pet cannabidiol (CBD) product line in celebration of
National Dog Day.
Hemp for Pets by HempMeds®
was created to help improve the lives of all pets, from nose to
tail. The Company, a proud member of the National Pet Supplement
Council (NPSC), aims to improve the lives of pets and people
naturally with a commitment to ethically-sourced hemp CBD extract
and natural ingredients, dedicated scientific expertise and
innovation backed by the strictest efficacy
testing.
"We don't just want to
create great products, we want to do great work. National Dog Day
isn't just a great opportunity to celebrate the dogs who have
become a part of our family, but also recognize the many dogs who
are currently in need of homes or care. There are so many pet
parents, rescues and shelters that HempMeds® can now aid by
providing them with the CBD products they need to help improve the
wellness of their pets," said HempMeds® President, Todd Morrow.
"This is very near to my heart and I am looking forward to
spearheading this initiative through our Animals in Need
Program."
According to Nielsen
analysts, the US pet food and treats market in 2018 reached
nearly $33 billion across various retail
channels, including local pet stores, vet
clinics, e-commerce sites and more. Compared to 2017 sales, this
represents a five percent, or $1.5 billion, increase. The
Brightfield Group recently reported that the US CBD pet product
market was worth $32 million in 2018 and is estimated to grow to at
least $1.16 billion by 2022.
"There are many studies
providing evidence that CBD has a variety of wellness benefits for
pets including improved cardiovascular function, neurological
health and behavior, healthy joints and hips, and healthy skin and
coats," said Medical Marijuana, Inc. CEO, Dr. Stuart Titus. "Our
pet-focused products are made with the Company's Triple Lab
Tested™ full-spectrum hemp oil and THC-free
isolate to offer pets the same high quality that we've been
providing to humans for many years."
The company also
recently attended SuperZoo,
the most-attended pet industry show in North America, in Las Vegas,
August 20-22.
This rise in demand is
bringing everyone to the market including GCH, Inc., the
development company co-founded by Willie Nelson and his wife, Annie
Nelson, which is adding
another brand to its portfolio of popular
cannabis and hemp product lines, Willie’s
Rescue, an array of hemp products for
internal and external use in dogs, cats and
horses.
“Our mission is to utilize
the benefits of the hemp plant to positively impact the lives of
companion animals,” said Elizabeth Hogan, Vice President of Brands
for GCH, Inc.
This brand also debuted
at SuperZoo at the Mandalay Bay
Resort in Las Vegas.
“As longtime animal
advocates and pet owners, our family believes that the hemp plant
has benefited our own animals,” the Nelsons said in a statement.
“We want you and your best friends to experience the potential
benefits of hemp. That’s why we created Willie’s Rescue and are
donating a portion of each sale to help find loving homes for
animals in need.”
While CBD products may
remain in somewhat of a grey area legally, consumer demand is
driving this industry forward with the pet segment taking up a
larger and larger segment. People love their pets and it seems most
pet owners want the option of quality CBD pet products, and through
some companies recent developments, they’re now having more and
more options to choose from.
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