Cannabis Derived Pet Products Represent an Exciting New Industry Sector
May 14th, 2019
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Over the last few years, global media have highlighted the many health benefits of cannabis for humans, but a new trend has begun to surface; the medical advantages of using cannabis products to treat animals. As new research continues to emerge, scientists, medical professionals and veterinarians are beginning to explore the ways in which medical marijuana can serve as an alternative to traditional medication and offer treatment and relief to suffering animals.
The American Pet Products Association estimated that in 2018, consumers in the U.S. spent over $72 billion on their pets, and projects that number to grow to $75 million in 2019. As cannabis products become increasingly popular as an alternative pet medication, some cannabis companies, recognizing the enormous opportunity this presents, have acted quickly to capitalize on this trend.
This article will introduce some of the companies that offer cannabis products designed for pets, and the benefits of exploring this exciting new method of medication.
Next Green Wave
Next Green Wave Holdings Inc. (CSE: NGW, OTCQB: NXGWF) is a seed-to-sale cannabis company with conditional use permits for medicinal and recreational operations within the state of California. In March it announced that it has launched its first pet product, Loki Love Biscuits, and this month announced the launch of its second, Loki Natural CBD tincture, both with its influential brand partner, Loki the Wolfdog.
The origin story of these products is very endearing. Partners Kelly Lund and Ally Coucke share a love of nature and their dogs, Loki and Bailey, respectively. During a trip to Alaska, the couple noticed that Bailey was having pain in his back legs and hips. The couple began to treat Bailey with CBD after more challenging days out. After seeing the benefits it provided him, they started to give him CBD every single day. ‘He’s been healthy and strong and mostly just consistent ever since,“said Lund. ‘We’re using CBD with Loki to ensure that he’ll have an active lifestyle for years to come.’
After witnessing firsthand the incredible relief that CBD provided to their pets, the couple made the decision to launch their own line of CBD products. Both the biscuits and tincture contain less than 0.3 percent THC, and therefore cause no psychoactive effects in pets, verified in their certificate of analysis which can be viewed on their website.
The two products cater to pets’ different needs.‘It was important for us to have treats for treating occasions, but also a tincture for more flexibility. The addition of the tincture helps with dogs that are using CBD as a daily part of their health plan,’ explained Lund.
This is an exciting new channel for NGW. “This is a growing sophisticated industry and we are paving the way as we continue to roll-out and deliver premium products to our consumers,” stated Leigh Hughes, CEO of NGW. By offering such quality products early on, NGW is well-positioned to be a key player in this niche of the cannabis market.
Creso Pharma Inc.(ASX: CPH) is another company which has set itself ahead of the game. Founded by a team of highly-experienced pharmaceutical executives, Creso uses innovative science and research to develop and deliver first-class cannabis and hemp derived products to people and animals everywhere.
Creso’s anibidiol® is the first Swiss complementary feed for companion animals that contains natural hemp oil with CBD. The company offers two products, anibidiol® 2.5 and anibidiol® 8. Both have been specifically developed for cats and dogs, and promote well-being by supporting the immune system and natural response. Creso claims that anibidiol® supports behaviour balance, overall vitality and normal psychological function, and can aid against tiredness and fatigue.
Anibidiol® contains a natural full spectrum hemp oil as well as hemp seed oil. The products also contain vitamins B6 and niacin, Omega 3, Omega 6, Omega 9, terpenes, flavonoids and other active herbal ingredients. As they are derived from hemp, the products are both THC free and contain no ingredients to cause hallucinogenic effects in pets.
With their early edge in the European market, Creso is well positioned to take advantage of this huge opportunity.
Geyser Brands Inc.
Geyser Brands Inc.(TSXV: GYSR) is another company that has recognized the huge potential in the pet products segment of the cannabis industry. On February 11th 2019, Geyser announced that it had entered into a non-binding letter of intent with Solace Management Group Inc., which set out certain terms and conditions in regard to the acquisition of all of the issued and outstanding shares of Solace.
Although non-binding, this partnership would give Geyser access to Solace’s well-established role within the cannabis derived pet health market; Solace’s brands and assets include Apawthecary Pets and Wildtail Pets. Apawthecary Pets carries Apawthecary Treats, which are all-natural and contain a blend of terpenes derived from hemp. Wildtail Pets carry a line of single ingredient freeze-dried pet products, including hemp-infused pet treats and kibble.
Solace already has an impressive distribution network, which includes over 3,000 stores in Canada, such as Bosleys, Petland, Pharmasave, Bukerfields, Masterfeeds, Global Pet Foods, Shoppers Drug Mart, Woofies, PetValue, Pet Planet & Bone & Biscuit. Its international distribution boasts the UK, Caribbean Islands, Austria, Belgium, Netherlands, Italy, Spain and the U.S.
Geyser supports healthy and active lifestyles, and this partnership could put them at the forefront of providing innovative and quality CBD products to the pet sector.
Companies like these recognize the enormous, $70 billion market that the pet sector represents. By acting quickly to deliver top-notch, original cannabis derived pet products, they have positioned themselves to dominate this emerging sector of the cannabis industry.
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