Pure Harvest Cannabis Group Inc., the cannabis Denver-based company, announced on Thursday they have just launched a new CBD pet subsidiary, Wild Pet Blends. The Wild Pet Blends Full-Spectrum hemp oil that is abundant in cannabinoids will be a valuable factor for the new product line. The new Wild Pet Blends products contain pure Colorado CBD oil and make pet chews and supplements rich in full-spectrum CBD, along with products full of digestive enzymes, vitamins, antioxidants and probiotics, especially formulated for pets. Pure Harvest claims that it has over 25 years of experience in the pet industry.
CBD Sales in US to Hit $24 Billion
According to a study conducted by the Brightfield Group, CBD sales in the US are thought to hit about $24 billion over the next few years, also the pet CBD products will be be a major force for gaining expansion in the CBD market. The sales for pet CBD products are expected to be some four hundred million dollars in a few years. Here’s what Matt Gregarek, the CEO of the Pure Harvest Cannabis Group, had to say about what his company goals are;
“Our objective is to develop, identify, and acquire operations in the fastest growing sectors of the already rapidly growing cannabis industry and to establish durable revenue lines.”
Pet CBD Market to Grow Expotentially
According to a research from the BDS Analytica and Arcview Market Research, in the next 4 years, there will be a 5% growth rate in the pet CBD market, which is more than what’s expected of the general market for the same hemp ingredient. Here are Gregarek’s words on what Wild Pet Blends next goal is to distribute their products.
“Today, we are launching an aggressive national marketing plan to drive demand and awareness online and to secure our position in this vertical. Next, we intend to pursue opportunities to put Wild Pet Blends in as many retail locations as possible.”
Around the beginning of 2020, Pure Harvest bought 51% of membership interest in How Smooth It Is Inc., a successful Michigan-based cannabis company, gaining the authorization to distribute the How Smooth products.