More and more cannabis companies are looking to develop CBD pet products and for good reason, considering the pet industry is worth an estimated $72 billion. What’s more, the CBD pet market is projected to be among the fastest growing CBD sectors.
The prevalence of CBD pet products in the market became evident at this year’s Global Pet Expo 2019, with every row of exhibitors including at least one company promoting CBD products for pets.
From pet food additives to CBD salves, the variety of CBD pet products hitting the market seems limitless.
Let’s take a look at some of the publicly traded companies making moves in the CBD pet product space.
Cannabis Companies Offering CBD Pet Products
True Leaf Medicine International Ltd (CSE:MJ) (OTCQX:TRLFF) is a leading global cannabis and hemp wellness brand for pets. The company recently expanded the total retail distribution of its CBD pet products to 3,500 stores around the world after adding Pet Planet as a North American retail partner.
True Leaf uses Canadian-harvested hemp to make its line of hemp seed soft chews for dogs, which offer cognitive support, immune function support, anti-inflammatory properties, and good skin health.
PotNetwork Holdings’ (OTC:POTN) wholly owned subsidiary Diamond CBD Inc. is the leader in cutting-edge, hemp-derived CBD products for the wellness market with its award-winning MediPets line. Diamond CBD was another one of the exhibitors at this year’s Global Pet Expo.
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The company offers an array of all-natural CBD pet products including CBD hemp oil supplements and CBD cat and dog treats, which come in a variety of flavors.
LinkResPet, a subsidiary of Link Reservations Inc (OTC:LRSV), is solely focused on providing CBD products that are specifically tailored for pets.
The company creates a variety of products for dogs, cats, and horses to help with a number of conditions including pain and inflammation, epilepsy and seizures, anxiety, and cancer. CBD pet products can also help soothe nausea, increase appetite, and improve skin issues like dermatitis.
Better Choice Company Inc (OTCQB:BTTRD) is another company growing its presence in the CBD pet products market. The company recently acquired TruPet LLC and Bona Vida Inc and launched nine new hemp-based CBD products for dogs.
Dixie Brands Inc (OTC:DXBRF) also entered the CBD pet products market through its pet wellness subsidiary Therabis LLC, which recently announced the creation of its Calm and Quiet™ hemp-based soft chew treats designed to promote stress relief in cats. This new product will build upon its successful line of hemp-based treats and food toppers for dogs.
Naturally Splendid Enterprises (TSXV:NSP) (OTCQB:NSPDF) offers something slightly different from the other CBD pet product companies with its Pawsitive FX™, a line of all natural topical balms made with hemp seed oil to protect and soothe paws and snouts.
Biopharmaceutical company Pivot Pharmaceuticals (CSE:PVOT) (OTCQB:PVOTF) began developing its CBD pet food additives last year, which come in powder form to be sprinkled over pet food to aid in anxiety, inflammation, chronic pain, and other common pet problems.
Another pharmaceutical company that has entered the CBD pet product game is Isodiol International Inc (CSE:ISOL) (OTCQB:ISOLF). The company announced that it would be entering the pet industry last October with its Pawceuticals CBD-based product line that was created to naturally aid in improving overall wellness and restoring a pet’s health.
MYM Nutraceuticals (CSE:MYM) (OTCQB:MYMMF) also offers a CBD pet-friendly product called Dr. Furbaby, which are pet oil tinctures containing pure CBD.
Newcomers to the CBD Pet Products Market
Canopy Growth Corporation (TSX:WEED) (NYSE:CGC) is also getting in on the action, adding Martha Stewart as an adviser to help it develop cannabis-derived products for both people and their pets.
Next Green Wave Holdings Inc (CSE:NGW) (OTCQB:NXGWF) also just launched its first CBD pet product, CBD-infused dog biscuits called Loki Love Bites. The company will also be releasing a whole-flower CBD tincture in April 2019.
Emerging cannabis company Choom Holdings Inc (CSE:CHOO) (OTCQB:CHOOF) is also looking for a piece of the action, recently signing a memorandum of understanding (MOU) with Better Choice Company for the exclusive Canadian distribution rights to its Bona Vida brand CBD pet products.
Benefits of CBD Pet Products
As mentioned, CBD pet products claim to offer a ton of benefits to animals, from reducing pain and inflammation to improving appetite and skin health.
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While there hasn’t been a lot of research related to the effects CBD has on pets, a study from last year revealed very positive results.
The study, which was published by Frontiers in Veterinary Science in 2018, studied the effects of CBD oil on 22 client-owned dogs with osteoarthritis. The clinical tests were very positive, with 80% of the dogs showing a significant decrease in pain and an increase in mobility.
Now that CBD is federally legal in the United States following the passing of the US Farm Bill, researchers will be able to conduct more studies around the effects of CBD on both humans and pets.
Interestingly, many of the studies that back CBD, such as the topical treatment of CBD for arthritic pain and inflammation in humans are performed on animals (rats) and produced no side effects. The FDA-approved Epidiolex, which is the first-ever CBD medicine for the treatment of seizures and epilepsy, was also tested on rats and rabbits, with the only side effect being related to pregnancy on a very high dose.
Still, regardless of the lack of scientific backing, more and more pet owners are turning to CBD pet products to help with ailments. Ultimately, the safety of CBD for pets comes down to dosage. Although safe dosages have yet to be determined, many CBD pet products offer dosing guidelines that are typically related to the animal’s weight.
California is the only state so far to approve a bill that allows veterinarians to discuss the therapeutic use of cannabis for pets, although they are still prohibited from prescribing it. Of course, this doesn’t mean that vets in other areas can’t talk about CBD pet products with their clients, but it does put them at risk of penalty.
A celebrity groomer has even touted the benefits of CBD pet products. Jonathan David, owner of Lap of Luxury Dog Spa in Florida, formally endorsed CBD Dog Health’s line of pet products and has been introducing the products to his clients, which include Ralph Lauren, Mariah Carey, Kevin Kline, John O’ Hurley, and Betsy Johnson.
Featured image: DepositPhotos © rbspace
