Investorideas.com, a leading investor news resource covering hemp and cannabis stocks continues with part two of its series on companies targeting the global CBD pet market and what’s driving this sector.
Recently the ‘Chicago Tribune’ reported “Looking to relieve her miniature dachshund Parky’s arthritis, mother of two Teressa Sworsky discovered hemp oil.” When your wife is selling it and your dog is taking it, it’s time to do your research. CBD is hitting target consumers in a big way – women and their pets!
Even Vanity Fair is talking about the CBD pet market. In an article in December, they reported, “CBD has infiltrated wellness products of all kinds for humans. Pets were probably the inevitable next frontier.”
Marking their territory, Isodiol International (CNSX:ISOL.CN) (OTCQB:ISOLF), focused on the nutritional health benefits derived from hemp, last October announced the launch of Pawceuticals, a CBD-based product line that naturally aids in restoring a pet’s health and improving overall wellness.
As for what drove them to this sector, CEO Marcos Agramont said, “Pet owners are more passionate than ever about the health and wellness of their pets. Pet owners today prefer products that are all natural and less harmful than standard veterinary prescribed medications. CBD offers powerful benefits especially when combined with other adaptogens to help maintain and improve pet health and overall wellness without producing unwanted side effects.”
SinglePoint (OTCQB:SING), mentioned in Part 1 of our series, remains in a unique position in the emerging CBD space. As both an online marketer and payments processor, the company looks to be in a strong position to help deliver CBD products to their target markets. Unlike many of the other publicly traded, cannabis-focused companies, SinglePoint has no connection with cannabis plants and cultivation, so the company should be able to take full advantage of the recently passed 2018 Farm Bill.
SinglePoint’s subsidiary SingleSeed recently launched PHYTO-BITES on SingleSeed.com to target the growing CBD pet market, saying on the SingleSeed blog ‘CBD for Pets’ – “We love our pets. Raising pets like they are members of our families means we go the extra mile for them; especially when it comes time to address their health problems. More and more pet owners are turning to CBD to help their buddies in similar fashions. Phyto-Bites CBD Soft Chews are for use in dogs and are formulated to promote health and support the reduction of separation anxiety, pain and inflammation.”
This passion for animals seems to be the biggest factor separating the CBD pet sector from the CBD market in general.
True Leaf Medicine International (CNSX:MJ.CN) (OTC:TRLFF), a global cannabis and hemp wellness brand for pets, announced in December that the Company donated $10,000 (USD) to the Hemp Feed Coalition to advance its efforts to engage the US.FDA on new uses of hemp for pets.
The Hemp Feed Coalition, (includes True Leaf), is a diverse group of industry stakeholders such as hemp producers, veterinarians, regulatory bodies, retailers, colleges, and universities. Its goal is to obtain US Food and Drug Administration and Center for Veterinary Medicine (FDA-CVM) approval of new uses for hemp grain products in pet food and animal feed. While the Farm Bill legalizes hemp and recognizes it as an agricultural product, the FDA-CVM must still approve new pet products with added hemp.
True Leaf’s True Hemp(TM) pet supplements are currently on shelves in PetSmart Canada, Pet Supplies Plus USA, Pets Corner UK, and Das Futterhaus in Germany.
As demand grows for CBD pet products, companies must look to distribution as well as production. Dixie Brands (CNSX:DIXI-U.CN), one of the cannabis industry’s consumer packaged goods companies, recently announcednew leadership and priorities for its pet wellness company, Therabis. Dixie hired specialty pet food and CPG veteran Bob Rubin as the first President of Therabis, with the objective of significantly growing the brand’s retail presence and sales.
Therabis plans to significantly expand its “bricks and mortar” presence in 2019 to complement its successful e-commerce platform, www.therabis.com and recently signed an agreement with Central Garden & Pet, a distributor with access to thousands of retail locations nationwide.
As online and retail sales deals like this emerge, the big question is ‘when will online retailers like Amazon will officially sell CBD pet products?’ There are currently a small portfolio of products available on Amazon here, though the efficacy and legitimacy of products is in question. Amazon has made no statement regarding their online sales of CBD, but perhaps that is only a matter of time…
Read part one of the series on CBD pet markets.
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