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Then in mid-May, competitor PetSmart began selling hemp extract products from Denver-based Mary’s Tails, saying in a news release that the company’s line will be sold at 122 stores in Colorado, Oregon, Indiana, Kentucky and Tennessee – with plans to expand this summer.
The growth comes even as the U.S. Food and Drug Administration – which oversees pet foods and drugs, as well as those for human consumption – has yet to authorize CBD for pets. The FDA’s 2019 review of CBD products included those for pets, though results of the review are still pending.
Over the last year, 57% of pet specialty stores were selling CBD products, up from 45% the prior year, Lange said.
In 2016, sales for pet CBD products stood at $58,581 – but that increased to nearly $7.4 million in 2019, said Maria Lange, pet and cannabis research specialist for market analytics giant Nielsen Global Connect.
“More and more people are understanding how CBD and how hemp-based products can enhance wellness, not only humans but in pets,” said Tim Gordon, chief science officer at Functional Remedies, headquartered in Boulder.
In just two years, the number of specialty pet stores that carried Colorado-based Functional Remedies’ CBD products increased dramatically, going from 100 to 500 – underscoring the fast growth of a market that’s now reaching mass-market retailers like Petco and PetSmart.
Sales in #CBD for #pets growing as 2019 sees owners spend almost $7.4million - up from $58,581 in 2016. #hemp #cbdpets $LRSV
From the companys twitter account: We expect $LRSV to return to "current" status in the near future!
I wouldn't wait for the crowd to come in
Expecting $NQMLF to trade above 1.00 in 2021
$NQMLF has a lot going on
Gold will blow up next year
Triple if reach recent highs
CBD Products in a lot of busy places
Great cannabis stock
What's good here guys
Let's ride it then
Lot of accumulation lately down here
Even 20M shares could take it above 0.0035
Lot of PRs but still flat
Many ran from triple to penny land this year
I think so, interesting chart
Whats short term Target?
will have $TSPG on top of my watchlist this week
$TSPG ready to go?
Let's hope for a green week
Don't forget about celebrities who backed and still backing the industry
Sales are growing worldwide
Just a matter of time before it's legalized worldwide
I think that the FDA will definitely change its stance soon
Let's be positive guys, this company keeps on making good moves
Yes lemon added and another one let me check
Needs to break 0.0040 again to gain more momentum
Oversold down here
Yes that would be perfect
Daily average volume = interest
Like the daily volume since months
7-eleven and singleseeds
LALPINA CBD water should bring $ in this year
Can't wait to double or even triple my coins