#CBD #Pet Products Continue to see Growth - More
Availability, and Better Products (OTC: $HIPH) (OTC: $LRSV) (OTC: $MJNA) (OTC:
$EDXC)
Point Roberts, WA and Delta, BC - August 29, 2019
(Investorideas.com 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.
“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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