Taking Care of Our Pets: More CBD Pet Products Coming to Market Drive Quality and Innovation
April 29 2019 - 7:00AM
InvestorsHub NewsWire
Point Roberts WA, Delta BC --
April 29, 2019 -- InvestorsHub NewsWire -- Investorideas.com, a
leading investor news resource covering hemp and cannabis stocks
releases a snapshot looking at how as the CBD pet market grows,
more companies are putting in extra effort to create quality
products and innovative technologies to ensure the best care
possible for pets that are often considered family members by
consumers.
A recent
study published in The Pet Behavior Science Journal
indicates that dogs with epilepsy can have less frequent seizures
if treated using CBD oil.
While the study may have been
small because it only followed three dogs over a period of two
months while those dogs were treated with CBD oil, the research
suggests that dogs respond to cannabis treatment in the same way
that humans do.
One of the largest cannabis
companies in the world, Canopy Growth Corporation
(TSX:WEED) (NYSE:CGC) and Sequential Brands
Group, Inc. announced back in February that Martha
Stewart had joined the Company in an advisory role to assist with
developing and positioning a broad new line of product offerings
across multiple categories, with a focus on pet
products.
“I am delighted to establish this
partnership with Canopy Growth and share with them the knowledge I
have gained after years of experience in the subject of living,”
said Martha Stewart. “I’m especially looking forward to our first
collaboration together, which will offer sensible products for
people’s beloved pets.”
While we are still waiting with
baited breath for more news and developments on Canopy’s pet
product line, the company is not sitting idly by and is ensuring
proper supply arrangements so as to be prepared to enter the
market. More recently, the
company announced its acquisition of AgriNextUSA, a hemp
enterprise led by CEO Geoff Whaling, which has been at the
forefront of hemp advocacy and building a vibrant hemp sector in
the US. The acquisition will accelerate Canopy Growth’s entry into
key American jurisdictions as regulations surrounding the full use
of hemp as a crop begin to be implemented, thanks in part to the
recently enacted 2018 US Farm Bill.
Hemp has the potential to disrupt
several prominent industries: advanced materials, cosmetics,
energy, fiber and textiles, food and protein production and the
health and wellness sectors. In addition, hemp is a natural source
of CBD, the non-intoxicating component of cannabis that can be used
for health and wellness purposes, as well as pet products in
jurisdictions where legally permitted.
LinkResPet,
a subsidiary of Link Reservations Inc.
(OTC:
LRSV), a
company providing CBD products especially tailored for pets, has
recently announced that it is finalizing negotiations with a certified
US-based CBD producer and fulfillment center and are currently in
the final stage of negotiations.
Link
Reservations Inc. is looking to establish itself in the US/North
American market and has been communicating with various producers
in order to find partners that meet their high standards, and has
now found such a producer to advance on their first
partnership.
Upon
this arrangement being successfully completed and as the company
explores retail opportunities, LRSV will be able to offer home
delivery of its CBD pet products in the US and Canada. The company
will also be in a position to supply products to brick & mortar
pet retailers. This will be a key for future growth as the
LinkResPet product line increases.
René
Lauritsen, Link Reservations Inc. CEO commented: “This is a huge
step for LRSV and our brand LinkResPet, and we are incredibly
excited to be making advances in North America. We selected our new
partner due to their high-grade CBD products and flexibility in
production and delivery timeframes. We ensure our products undergo
a rigorous process of quality control and testing, using the latest
scientific methods that will confirm their quality and safety,
which of course includes being free of bacteria, pesticides, mold,
solvents, and other contaminants."
The
producer is specialized in “SFE” technique (Supercritical Fluid
Extraction), using state of the art equipment. “SFE/CO2 Extraction”
is the most sophisticated method of professionally producing hemp
oil extract, gently obtaining the extract and preserving many of
the plant’s active molecules, while being environmentally friendly
and sustainable. In this process, supercritical CO2 (carbon
dioxide) gas is used in natural product extraction, offering the
possibility to separate materials from each other selectively and
with great care.
Medical Marijuana,
Inc. (OTC: MJNA), the first-ever publicly
traded cannabis company in the United States’ subsidiary, Phyto
Animal Health recently
announced the launch of its newest CBD pet product,
HempBone Smoked Salmon Bites for cats.
HempBone Smoked Salmon Bites are
artisanal star-shaped cat treats that are soft-baked and
naturally-flavored to taste like smoked salmon and roasted
seafood.
Small cats can enjoy three to four
bites daily to help support overall wellness, while larger cats may
require a larger serving. CBD has been studied extensively by
top-veterinarians to promote cardiovascular function, support
healthy joints, and promote neurological health and emotional
behavior in pets.
"Our HempBone Bacon Apple Donuts
have gained incredible popularity over the past year because of
their natural allergen-free ingredients and palatable taste that
dogs love," said Phyto Animal Health CEO, Ian Quinn. "We wanted to
offer a safe and nutritious snack for cats as well so we created
HempBone Smoked Salmon Bites. They are one-fourth of the CBD per
serving size as the Bacon Apple Donuts and feature a more
feline-focused flavor, better meeting the dosing needs and taste
preferences of cats."
"There is currently an upward
trend in the CBD pet supplement industry and for good reason," said
Medical Marijuana, Inc. CEO, Dr. Stuart Titus. "Phyto Animal Health
leads this industry trend with premium quality,
veterinarian-recommended CBD supplements in a variety of options
that are customized to meet the needs of pets of many different
sizes and species."
EastWest
Bioscience Inc. (TSX-V: EAST) is also bringing
new innovative products to market, having announced four additional products to
its Natural Pet Science line, both in Canada and the US, with CBD
included in the US destined products which will be marketed to CBD
permitted jurisdictions.
Overshadowed by the significance
of the CBD opportunity that the signing of the 2018 Farm Bill
presented, in December 2018, The US Food and Drug Administration
completed its evaluation of three generally recognized as safe
(GRAS) notices for hemp seed-derived food ingredients. These
ingredients being hulled hemp seed (GRN765), hemp seed protein
powder (GRN771) and hemp seed oil (GRN778). These notices represent
a real market opportunity for EastWest, which validates the
Company's Canadian ‘product first' strategy.
EastWest's product development and
sales strategy in the US will be similar to what it used to grow
retail shelf space in Canada. Now that there is FDA approval for
hemp-based foods, the Company's interesting and innovative
hemp-based products with unique formulations and ingredients become
attractive to distributors. As Eastwest's hemp products become
established in retail stores and distribution networks it lowers
the barrier of entry for the Company's CBD infused
products.
"Hemp based products are still
relatively new to US markets and distributors are always looking
for innovative lines to sell. Our Hemp and Cricket pet treats on
shelves in the US, even without CBD, represents an opportunity to
increase revenues beyond what the Canadian market is capable of,"
states Rodney Gelineau, CEO of EastWest Bioscience
Inc.
August 2018 figures from New
Frontier Data found that hemp-derived pet supplies
generated $13 million in 2017 and by 2022 it's expected that this
number will reach upwards of $125 million.
Currently dogs and cats are the
focus of the day as these are our most common North American pets,
however as companies develop better quality products and increase
distribution, we can expect to see horses and larger animals as
beneficiaries of CBD as well, expanding the overall potential for
the market. As more research comes out on the benefits of CBD for
animals, we can look ahead to more companies entering the market,
with companies having early entry in the sector gaining the
lead.
For investors following cannabis
stocks, Investor Ideas has created a stock directory of publicly traded CSE, TSX, TSXV, OTC, NASDAQ, NYSE, ASX
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