Cannabidiol, known as CBD by most consumers, has taken center stage as the supplement of the decade. The supplement has already been adopted by millions of consumers and boasts a growth trajectory that has investors foaming at the mouth to get in on the action.
In fact, the Brightfield Group claims that the CBD market may reach $24 billion by 2023, good news for businesses such as Next Green Wave, Inc. (Next Green Wave, NGW:CSE | NXGWF:OTCQX) who have already taken advantage of the skyrocketing hemp and CBD industry.
The Health Potential of this All-Natural Compound
What makes CBD so special? After all, CBD is only one of the hundreds of documented cannabinoids found in cannabis and hemp. Unlike its more nefarious cousin, THC, CBD does not elicit any psychostimulatory effects, meaning that consumers won’t get “high” from using it.
But if it doesn’t get users “high”, what is the benefit? Although research on CBD is still in its infancy, to date there have been dozens of studies with more on the horizon. Why so little research? Up until December of 2015, regulatory limitations put in place by the FDA prohibited researchers from conducting CBD-related trials in the US.
That said, research conducted to date has been promising, with CBD demonstrating the potential for aiding with a wide range of health conditions and resulting symptoms. Although official uses (outside of treatment for childhood epilepsy) have not been officially approved by the FDA, early results from research has resulted in consumers flocking to the compound of their own accord and at their own risk.
Millions of individuals are reporting CBD having aided in helping them with:
- And more…
For these reasons, CBD has also attracted attention as a potential health aid for pets.
CBD for Pets – a revolutionary health aid?
Due to CBD’s overwhelmingly positive response among consumers, it has gained attention as a potential health aid for their furry friends as well. In fact, the market is claiming that 7% of their sales may be attributed to pet-related CBD products, indicating that the budding market for CBD-derived pet products may be substantial.
Money spent on pets has steadily increased in recent years. Pets have found a place in the hearts of their human parents, becoming like family. As such, their health and well-being are at the forefront of people’s minds.
Natural Remedies are Making Waves
Natural remedies are very appealing to most pet owners. Not only are they affordable, but they are also perceived as healthier alternatives to what are sometimes harsh and expensive pet pharmaceuticals with numerous side effects.
According to pet owners, there are a number of reasons to treat pets with CBD. Like humans, pets also feel anxiety, pain, and suffer from chronic conditions such as arthritis. Pet owners claim that by treating their fur family with CBD, they see real and measurable improvements in the pet’s overall energy, health, and well-being.
Studies on CBD for use with pets (such as cats and dogs) are even more limited than that on humans. However, the biological and physiological systems of these fur friends are similar enough to that of humans that benefits seen in homo sapiens may also apply to our feline and canine friends.
CBD Pet Products Already Flying Off Store Shelves
Capitalizing on this growing trend, a number of CBD manufacturers in the industry have already developed innovative products in the niche. For example, industry leader Next Green Wave, Inc. (Next Green Wave, NGW:CSE | NXGWF:OTCQX) has launched “Loki Naturals” featuring products developed to support and improve the health and wellness of man’s best friend. Products from this and other lines often feature CBD-infused doggie treats, biscuits and tinctures and soft chews.
Other brands have focused on specific health conditions with their products. For example, Bona Vida has formulas specific to heart support, muscle and joint, and skin and body. Canna-Pet, by contrast, offers a large selection of hemp nutrition, including CBD nutrition products. Categories include anxiety and phobias, joints and mobility, pain and inflammation, infectious disease, skin and allergies, heart and circulatory, digestive and nausea, cancer, and epilepsy and seizures.
Anxiety and Inflammation Lead the Pack
CBD items for pets are being developed at breakneck pace. However, as reported by New Frontier Data reports, there are two selling points that are overwhelmingly driving growth: reducing anxiety and reducing inflammation.
American Pet Products Association reports that U.S. pet owners spent over $70 billion in 2018 on non-CBD products for their pets. As CBD becomes increasingly prevalent, accessible and mainstream, it is expected that pet-related CBD products will continue to represent a massive opportunity for brands in the market.
Cautious Optimism for Pet CBD
Cannabis pet products, where legal, come with added concerns such as the ethics of getting pets “high”, even if the intent is to ease pain and suffering. However, CBD, unlike THC, does not possess any psychoactive properties.
According to Anne Sraders, of The Street, THC, tetrahydrocannabinol, mimics the brain chemical anandamide. This alters brain communication because the THC compound attaches to neurons. CBD, while it is a part of the cannabis plant, it does not cause the “high” or euphoric effects marijuana is known for.
As such, CBD may be able to yield numerous health and wellness benefits for pets without the added concerns associated with marijuana. However, veterinarians remain cautiously optimistic. While the consumer market has widely adopted CBD for use in humans and pets alike, veterinarians caution that more research is needed in order to standardize dosing and CBD’s true impact on various health conditions and symptoms.
Despite the Need for More Research, Demand Remains High
Bethany Gomez, Brightfield Group Managing Director stated that there are a variety of CBD pet products on the market which have proven to be very popular. According to Gomez, these products are being sold from veterinary clinics to pet retailers, with some big pet retailers possibly carrying these products in the foreseeable future. She further states that many pet owners want to take care of their pets. The issues of aging, bone joint damage, arthritis, and separation anxiety are some reasons why pet owners seek out CBD products for their pets. Pet owners are trusting CBD products for their pet’s health.