Cannabis use may bring to mind medical efforts to manage pain or recreational smoking. However, there’s another market where cannabidiol, or CBD, is gaining traction as a viable treatment option. That market is the world of pets.
Between necessary supplies, treatments, and care through a veterinarian, Americans spent more than $30 billion over the course of 2016. This number is reported by the American Pet Products Association, and pet owners show no signs of cutting that amount in the future. In fact, CBD has been used for pet treatment for years.
Veterinarians take recommendations and suggestions for cannabis-based products seriously, showing that both anecdotal evidence and scientific research are recognized and respected by the pet medical community as well.
Veterinarians do prefer that sales pitches focus on the potential benefits and any risks for the pet, rather than a gimmick. When this approach is used, it’s easier to support the product and recommend it to their regular customers.
The recreational use of marijuana becomes legal in October in Canada. Prior to that launch, some companies are planning products that will use cannabis for the benefits of pets across the country. CannTrust Holdings Inc. has already initiated a project with Grey Wolf Animal Health, the ultimate goal being a line of products incorporating cannabis and focused on the health of the country’s 16 million cats and dogs.
True Leaf Pet, a company established in 2015, plans to strengthen their presence in the market. The company’s current products include hemp-based chews, as well as oils and sticks. With the legalization of cannabis, True Leaf Pet owners plan to provide treatments for both pain and anxiety. These are intended to help both people and pets live a healthier, happier life.
One important focus as the market is infused with new products is the effect of THC on animals. For example, dogs are 10 times more sensitive to the compound than humans. This means the addition of trace amounts to a product can produce an extreme reaction in a dog, while a human would not even notice a comparable amount.
It’s also important to consider the other ingredients in a product utilizing cannabis. This increases the chances the animal can live a healthier life.
About Author
The opinions provided in this article are those of the author and do not constitute investment advice. Readers should assume that the author and/or employees of Grizzle hold positions in the company or companies mentioned in the article. For more information, please see our Content Disclaimer.