CBD is one of the highest potential markets out there at the moment, with many analysts predicting its value to exceed $20 billion USD by 2024. One of the main factors for this huge expansion is the versatility of CBD as a product. Whether it's CBD vape juice, infused hand cream, gummy bear edibles, or CBD capsules, there are an extraordinary amount of ways to benefit from CBD. Interestingly, CBD's uses extend beyond humans to our pets. Yes, that's right, CBD pet products are a thing!
How Do They Help Your Pet?
So the first thing you're probably wondering is, "why would I even give my pet CBD?" Well, it's pretty much for any of the same reasons you would take CBD yourself. It's an effective form of treatment for a variety of physical and psychological ailments, such as offering pain relief for those afflicted with degenerative diseases like arthritis, to even helping people deal with stress, anxiety and sleep deprivation. All of these illnesses and ailments can also affect our beloved pets, hence the emergence of CBD pet products.
So for example, if you have a cat that suffers from seizures or a dog whose limbs have stiffened with age, you might want to consider CBD as an option for improving their quality of life. These products could come in especially useful around Halloween or the Fourth of July when pets tend to get spooked by the fireworks.
It's worth noting at this point that research into CBD's proposed therapeutic benefits for humans is still very limited, and even less so for pets, especially considering CBD was illegal in the US until last year.
What are CBD Pet Products and How are They Administered?
CBD pet products are largely similar to some human ones, such as edibles and creams—but you definitely shouldn't be buying your dog a vape. Some examples include CBD-infused chewable treats, oils that can be placed under your pet's tongue or mixed in with food, or even topical creams that are rubbed directly on the skin.
Colorado vet Stephanie McGrath carried out a test on CBD use in dogs to measure what the best delivery system was between a capsule, an oil, and a cream. "We measured the pharmacokinetics, which basically means you give the dogs a single dose of all three delivery methods and then you measure a bunch of different blood levels over a 12-hour period," says McGrath. "So how quickly is the CBD absorbed, how high the blood concentration gets at that single dose, and then how fast the CBD is eliminated." Her study found the oil to be the best method of giving a dog CBD.
McGrath's research also found CBD increased comfort and activity in dogs with osteoarthritis, as well as reducing the number of seizures experienced by epileptic dogs. While these studies were quite narrow, McGrath is still optimistic that CBD is a viable form of treatment for pets, especially given that any other drugs currently available have negative side effects such as weight gain and lethargy.
What are the Big Stocks to Look Out For?
So, we've already discussed how CBD pet products can benefit your pet's life, but how can they benefit you as an investor? Well, hemp-derived pet supplies are one of the fastest-growing sectors in the CBD market, with sales totaling $13 million USD in 2017 and an expected market value of $125 million USD by 2022. Let's take a look at the stocks to watch out for:
Elixinol Global Limited (OTCQX:ELLXF) is a leading manufacturer of high-quality hemp oil extracts and was quick to get in on the potential of the CBD pet products market. In April, the company purchased a 25% stake in Altmeds LLC, maker of the pioneering and market-leading Pet Releaf hemp-derived CBD pet line, which accounted for 65% of the market's sales in 2018. Pet Releaf products are available in over 4,000 stores throughout the US, and Elixinol's investment will provide Pet Releaf with the capital it needs to expand on that.
True Leaf Medicine International (CSE:MJ) (OTCQX:TRLFF) is probably the next largest manufacturer of CBD pet products but could be seen as a more attractive option than Elixinol, as it is vertically integrated. While the company is relatively small right now, posting just $414,657 CAD in revenue during its most recent financial results, there is certainly room for growth given that the company has signed agreements to begin distribution in Asia and Europe. Currently, valued at just $0.20, what this company really needs is some outside investment so that it can continue to grow.
So that's our beginner's guide to CBD pet products and the most promising stocks in the sector—what do you think?
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