CBD Pet Market Revenues Projected To Be Among Fastest Growing CBD Sectors

Palm Beach, FL – March 28, 2019 — As the global pet care market continues it seemingly never-ending rise, year after year… all things point to the fact that CBD infused products will be among the winners in the race to revenues.  Given the sheer size of this industry, it’s no wonder cannabis companies are expecting CBD-for-pets to garner a large share of the market. Here are some background projection numbers for the overall pet care market: Statista.com presents a forecast in pet store revenue in the United States from 2018 to 2023. It is projected that U.S. pet store sales will grow from around 19.5 billion U.S. dollars in 2018 to approximately 22.39 billion U.S. dollars by 2023; and according to a report by Grand View Research the global pet care market is expected to reach USD 202.6 billion by 2025.  Rise in the adoption of pets and growing demand for premium care products are few factors expected to drive market growth. The global pet care market size was estimated at USD 131.7 billion in 2016 and is expected to grow with CAGR of 4.9% from 2016 to 2025. U.S. held the largest share in market in 2016 due to rising animal healthcare expenditure and growing awareness of animal health in the country.   Active companies in the industry making moves to ready that include:  Choom™ Holdings Inc. (CSE:CHOO) (OTC:CHOOF), Fire & Flower Holdings Corp. (TSX-V: FAF) (OTC: FFLWF),  Curaleaf Holdings, Inc. (OTC: CURLF) (CSE: CURA) Trulieve Cannabis Corporation (OTC: TCNNF) (CSE: TRUL), Cannabis Strategies Acquisition Corp. (NEO: CSA.A) (OTC: CBAQF).


A report focused solely on the CBD pet market says: “Pet-and-animal product sales are estimated to reach USD 125 million by 2022, representing a 5-year CAGR of 57%, among the fastest-growing sectors in the CBD market,” and it’s easy to see why cannabis companies are pouncing on the opportunity. While traditional dog or cat products currently predominate, those targeted for equine and other domesticated animals are on the horizon. As pet-and-animal sales have focused on treat supplements and food additives, CBD with anti-anxiety and anti-inflammation properties remain the top-selling segment.


Choom™ Holdings Inc.  (CSE:CHOO) (OTCQB:CHOOF) BREAKING NEWS:  Choom™, an emerging adult and medical use cannabis company that has secured one of the largest national retail networks in Canada, is pleased to announce that it has signed a memorandum of understanding (“MOU”) with Better Choice Company, Inc. for the exclusive Canadian distribution rights to Better Choice’s cannabidiol (“CBD”) Bona Vida brand of products targeted for animal health and wellness once approved for sale in Canada. The terms of the MOU are not material.


According to the American Pet Products Association, U.S. pet owners are estimated to have spent over $70 billion in 2018 on pet supplies, treatments and veterinary care.  As CBD pet products become more readily available and accepted, well positioned suppliers and distributors will be able to exploit the tremendous opportunities for growth in the CBD pet sales.


Better Choice Products


Under its Bona Vida brand, Better Choice offers a suite of CBD pet focused products in the form of oils and soft chews with several formulations designed to aid the state of good health and well-being in pets.  Bona Vida has formulations which specifically target animals Relaxation & Heart Support, Muscle & Joint, as well as, Skin & Body.


“We are excited that Better Choice has chosen us as their exclusive distributor in Canada for their pet focused CBD products,” states Chris Bogart, President and CEO of Choom. “We recognize the importance of growing our brand portfolio and having the sole distribution rights for Better Choice products helps us achieve that in an entirely new market on the horizon in pet use products.  From what we know of in the United States, the CBD products for pet use market has proven to be a high margin business. As the normalization of cannabis-based products in Canada grows, consumers will begin to shift towards these new natural alternative treatments for their pets.” Read this and more news for Choom™ at:     https://financialnewsmedia.com/news-choo/


Additional industry related developments from around the markets:


Fire & Flower Holdings Corp. (TSX-V: FAF) (OTCPK: FFLWF) has had a successful first month of operations of its cannabis Click & Collect service.  The Click & Collect service allows age-verified adult-use cannabis consumers to reserve cannabis and accessory products for pickup at stores across the provinces of Alberta and Saskatchewan. The service was launched as part of the company’s mission to curate the world of cannabis for its customers who seek a more convenient and informative buying experience. Certain cannabis products sell out rapidly, and the Click & Collect service ensures customers are able to reserve high-demand products and receive priority service when visiting a store.


Curaleaf Holdings, Inc. (CSE: CURA) (OTCQX: CURLF)  a leading vertically integrated cannabis operator in the United States, recently announced it has opened its 23rd Florida dispensary as the company continues to expand rapidly throughout the state. Curaleaf has the largest cannabis dispensary footprint in the United States, with 43 dispensaries across the country.


“As Curaleaf continues to deliver on its expansion strategy, we are well positioned to improve the quality of patients’ lives by providing access to safe top-quality cannabis products,” shared Joe Lusardi, Curaleaf chief executive officer.


Trulite, Inc. (CSE: TRUL) (OTCPK: TCNNF) a leading and top performing cannabis company in the United States, was the first medical marijuana licensee in Florida to make a sale of smokable cannabis. The sale took place at Trulieve’s Tallahassee dispensary, the first dispensary to have opened in the state.


“We are excited about the opportunity to sell whole flower smokable products to patients in Florida and honored to be the first company in Florida to do so. Thank you to Governor DeSantis and the Legislature for taking up and approving smokable products in Florida and special thanks to the Department of Health and the Office of Medical Marijuana Use for their quick action to make (this) a reality for patients in need. Offering these whole flower products to our patients in their purest, most effective form is something we – and patients – have been looking forward to since we opened the doors of the state’s first dispensary,” said Trulieve CEO Kim Rivers.


Cannabis Strategies Acquisition Corp. (NEO: CSA.A) (OTC: CBAQF) is pleased to announce that its shareholders have overwhelmingly approved its qualifying transaction to concurrently acquire the target businesses of Washoe Wellness, LLC, The Canopy NV, LLC, Sira Naturals, Inc., LivFree Wellness, LLC and CannaPunch of Nevada LLC (collectively, the ” Qualifying Transaction “) at its special meeting of shareholders held on March 18, 2019. Over 99.9% of the votes cast by CSA’s shareholders were in favour of the Qualifying Transaction, the amendment of CSA’s articles (including the creation of the multiple voting shares and subordinate voting shares of CSA), and the continuance of CSA from Ontario to British Columbia, and over 93.4% of the votes cast were in favour of CSA’s proposed equity incentive plan, in each case, as further described in CSA’s management information circular dated February 19, 2019, which is available on SEDAR at www.sedar.com under CSA’s profile.


DISCLAIMER:  FN Media Group LLC (FNM), which owns and operates FinancialNewsMedia.com and MarketNewsUpdates.com, is a third party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels.  FNM is NOT affiliated in any manner with any company mentioned herein.  FNM and its affiliated companies are a news dissemination solutions provider and are NOT a registered broker/dealer/analyst/adviser, holds no investment licenses and may NOT sell, offer to sell or offer to buy any security.  FNM’s market updates, news alerts and corporate profiles are NOT a solicitation or recommendation to buy, sell or hold securities.  The material in this release is intended to be strictly informational and is NEVER to be construed or interpreted as research material.  All readers are strongly urged to perform research and due diligence on their own and consult a licensed financial professional before considering any level of investing in stocks.  All material included herein is republished content and details which were previously disseminated by the companies mentioned in this release.  FNM is not liable for any investment decisions by its readers or subscribers.  Investors are cautioned that they may lose all or a portion of their investment when investing in stocks. For current services performed FNM has been compensated thirty one hundred dollars for news coverage of the current press release issued above by Choom™ Holdings Inc. by a non affiliated third party.  FNM HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.


This release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. “Forward-looking statements” describe future expectations, plans, results, or strategies and are generally preceded by words such as “may”, “future”, “plan” or “planned”, “will” or “should”, “expected,” “anticipates”, “draft”, “eventually” or “projected”. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company’s annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and FNM undertakes no obligation to update such statements.


Contact Information:

Media Contact email:  editor@financialnewsmedia.com – +1(561)325-8757


SOURCE Financialnewsmedia.com