- Pet CBD industry projected to reach $1.7 billion by 2025
- GPFT’s new pet CBD product targets two common dog, cat ailments: anxiety and joint pain
- Pets deserve the same relief that their owners experience with Grapefruit’s CBD products, says CEO
Humans aren’t the only ones who may benefit from all that cannabidiol (“CBD”) offers. A recent Brightfield Group article reported that the pet CBD industry has experienced significant growth over the last several years, with Brightfield projecting an expected market valuation of more than $1.7 billion by 2025 (https://ibn.fm/jbMU2). Grapefruit USA (OTCQB: GPFT) is leveraging its expertise in the space by launching a new USDA-certified Organic CBD Pet Tincture.
“We understand that pet owners are now demanding organic, plant-based, natural remedies to keep their furry family members calm and in good health, and avoid the potential negative side effects of generic, synthetic pet medications,” said Bradley Yourist, cofounder and CEO of GPFT. “Grapefruit’s new Pet CBD Tincture meets this pet-owner market demand because it is derived from hemp grown right here in the U.S., and each batch is lab tested for purity.”
A premiere, fully licensed, California-based cannabis company, Grapefruit is expanding its hemp-based CBD product line with the new pet tincture, which targets two of the most common dog and cat ailments: anxiety and joint pain. Grapefruit’s new Pet 300 mg CBD hemp-based tincture is derived from USDA-certified organic hemp, grown in the United States.
“Our commitment to obtain the USDA-certified organic seal clearly demonstrates GPFT’s continued commitment to creating the best high-quality, safe and effective CBD products for our customers, be they human, feline, canine or otherwise,” Yourist continued. “Our pets deserve the same relief that their owners have experienced with our other CBD products, such as our THC-free, hemp-derived CBD Hourglass time-release topical relief cream.”
Grapefruit noted that overall pet ownership is increasing, partly due to the pandemic, with more than half of all U.S. households having a furry family member. In addition, research shows that more than 64% of CBD consumers buy CBD products for their pets because of the holistic benefits they provide. The global CBD pet market size was valued at $27.7 million in 2019 and is expected to grow at a compound annual growth rate (“CAGR”) of 40.3% from 2020 to 2027. With its expertise in the CBD space, Grapefrult is ideally positioned to be a strong presence in this market.
Grapefruit holds California permits and licenses to both manufacture and distribute cannabis products in the Golden State. The company’s extraction laboratory and manufacturing and distribution facilities are located in the industry-recognized Coachillin’ Industrial Cultivation and Ancillary Canna-Business Park in Desert Hot Springs, located on the extension of North Canyon Road, approximately 14 miles north of downtown Palm Springs.
To find out more about the company and its game-changing Hourglass time-release cannabinoid delivery cream, please visit www.GrapefruitBlvd.com.
NOTE TO INVESTORS: The latest news and updates relating to GPFT are available in the company’s newsroom at https://ibn.fm/GPFT
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