The growing market for cannabiliol in the zoo business
Skepticism on the part of veterinarians is due to the lack of confirmed complete and reliable information about the effect of cannabidiol on animals. Despite this, the untwisted PR-company promoting the promotion of drug-free cannabinoids in all spheres of human life is unlikely to disregard such a sector as zoobusiness. According to the forecasts of some American analysts, the capitalization of the cannabidiol market in the United States by 2023 will be about $ 24 billion, with 7% of sales - additives for animals. That is why in our country feed additives are already registered, made on the basis of the therapeutic properties of technical hemp, which, if amendments are made to the current legislation, may appear on the shelves of pet stores in Ukraine.
The attention that has recently been given in the media to animal products containing cannabidiol (CBD) makes us more closely examine the trends in this market. An elementary analysis of statistical indicators provides an explanation of why public opinion leaders are involved in business projects of the largest hemp companies in the world related to the use of cannabinoids in pet products. A clear example of this kind of trend is the Queen's Home Economics Partnership with Canopy Growth .
Over the past few years, the global pet food market has grown to $ 130 billion. This is not least due to the fact that pet owners are willing to spend significant amounts of money on products in the premium pet business. A number of companies are betting that CBD will become a premium ingredient, significantly increasing the profit from sales of products of interest to a modern consumer.
The situation in the sales market for CBD products for the zoobusiness is rather peculiar. On the one hand, small companies or startups find customers using the World Wide Web and sell products through local online stores. On the other hand, corporations that dominate the market for pet products are waiting for the provisions of this economic sector to be settled at the legislative level so that, without fear of any persecution by law enforcement agencies, invest substantial financial resources in its development. For example, the subsidiary of Therabis, an American hemp producer, Dixie Brands Inc. developed a line of CBD products for dogs. Their "Calm and Silence", "Movement" and "Stop Scabies" since 2017 are available in more than 100 online trading stores.
In turn, world leaders in pet products such as Mars, Nestlé, General Mills and JM Smucker will soon buy out these kinds of small brands. For example, in April of this year Nestlé "launched sales" of cannabidiol-containing products under the Garden of Life brand, which it bought in 2017. They have capsules, oils and sprays in stock. Purina, an operating company specializing in pet products, said it was considering developing a CBD dog food.
According to the head of the American Association of Veterinarians Jim Penrod, “veterinarians in the United States are officially forbidden to recommend CBD. Due to the fact that pet owners cannot get qualified advice, they themselves have to develop cannabidiol dosages for their pets. Stephanie McGrath, a professor at the Colorado Veterinary Hospital who conducts clinical trials of CBD, claims that “separate studies of the therapeutic effects of cannabidiol on animals are encouraging, but further research is needed to find out if CBD can help with pain and seizures in pets.” this question".
Commentary of the Ukrainian Technical Hemp Association
Skepticism on the part of veterinarians is due to the lack of confirmed complete and reliable information about the effect of cannabidiol on animals. Despite this, the untwisted PR-company promoting the promotion of drug-free cannabinoids in all spheres of human life is unlikely to disregard such a sector as zoobusiness. According to the forecasts of some American analysts, the capitalization of the cannabidiol market in the United States by 2023 will be about $ 24 billion, with 7% of sales - additives for animals. That is why in our country feed additives are already registered, made on the basis of the therapeutic properties of technical hemp, which, if amendments are made to the current legislation, may appear on the shelves of pet stores in Ukraine.
U.S. Pet Products CBD Market Growth