PALM BEACH, Florida, February 20, 2018 /PRNewswire/ --
MarketNewsUpdates.com News Commentary
The massive growth of the CBD-based product market continues to be one of the most active opportunities in the multi-billion dollar legal marijuana/cannabis markets, as experts are currently forecasting the CBD segment alone to grow to $2.1 Billion by 2020, according to The Hemp Business Journal. Through innovation and the development of new product lines with new uses, aggressive companies in the space are tapping into new consumer markets to increase their market share. CBD-based products have a growing list of uses with the potential to be used in a number of ways, ranging from therapeutic benefits, consumer edible products, health and wellness products and even animal/pet medications. CBD applications and uses are nonpsychoactive and are known for targeting reliefs of pain, anxiety and depression, stimulate appetite and have anti-inflammatory and anti-acne properties. Development of diversified products and uses are boosting the already Multi-Billion Dollar CBD market to new heights as more growth is on the horizon. Active Companies from around the market with current developments this week include: Marijuana Company of America, Inc. (OTC: MCOA), Hemp Inc. (OTC: HEMP), Medical Marijuana Inc. (OTC: MJNA), mCig, Inc. (OTC: MCIG), PotNetwork Holding Inc. (OTC: POTN) and Rocky Mountain High Brands Inc. (OTC: RMHB).
Marijuana Company of America, Inc. (OTC: MCOA), an innovative hemp and cannabis corporation, is pleased to announce the release of hempSMART™ Full Spectrum Pet Drops formulated for cats and dogs. Each bottle of hempSMART Full Spectrum Pet Drops is formulated with 250mg of full spectrum non-psychoactive Cannabidiol (CBD) derived from industrial hemp. The new specially formulated product contains naturally occurring CBD derived from hemp seed oil, full spectrum hemp extract, fractionated coconut oil, and a rich bacon flavor. Read this and more news for MCOA at http://www.marketnewsupdates.com/news/mcoa.html
Donald Steinberg, MCOA's CEO said, "Our new hempSMART product is a natural option for pet owners who care about supporting their animals' healthy energy levels as well as optimizing their health. Our hempSMART product line will continue to expand to other popular areas of consumer interest to give our affiliates what they need to succeed."
In reviewing pet supplement trends for 2017, Watson, Inc.'s Mona Hollums observed that natural pet supplement sales nearly doubled between 2008 and 2014. With the increasing focus on pet health, the market for pet supplements is projected to show significant and continuing expansion. Projections show that U.S. retail sales of pet supplements and nutraceuticals treats will grow 3%-5% annually, bringing the market to $1.6 billion. Globally, the pet supplement market is also expected to grow even further. Between 2016-2020, sales are projected to increase over 5% and will continue to yield lucrative investment payouts.
In the industry developments and happenings in the market this week include:
Medical Marijuana Inc. (OTC: MJNA) recently announced it has garnered national news coverage on globally-recognized lifestyle website POPSUGAR. A February 4, 2018, article on the POPSUGAR website entitled "14 of the Best CBD Products We're Obsessed With - You Need to Try These ASAP" showcases Medical Marijuana, Inc.'s Cannabis Beauty Defined CBD Anti-Aging Serum and talks about how the product is like a "miracle syrup" for the face and body that provides moisture to patches of dry and inflamed skin. This leading lifestyle website, which boasts an audience of over three billion global monthly views, is targeted predominately at millennial women and is a trusted source for fashion, beauty and fitness tips as well as beauty product reviews.
mCig, Inc. (OTCQB: MCIG), an innovative biotech company, which focuses on cannabis-industrial hemp, cannabinoid research, and development, nutraceuticals and pharmaceuticals, also recently announced plans to launch an innovatively advanced hemp CBD-based formula for pets. Doctor of Bioengineering and Cardiology at Mt. Sinai Medical Center, Arkady Uryash, will be leading this new initiative in the rapidly expanding sixty-billion-dollar CBD pet industry market. "CBD-based pet products are seeing heightened demand across the globe. Trial studies have shown that CBD oils can help reduce anxiety, inflammation, and chronic pain while boosting the pet's immune system," Says Arkady Uryash, MD, Ph.D. at Biomedical Research Institute, Mt Sinai Medical Center. "Results have demonstrated rapid positive results in improving condition of pets suffering from these ailments, which is one of the many reasons pet owners are eager to obtain CBD wellness products supported by science and from reputable and trustworthy companies."
PotNetwork Holding Inc. (OTC: POTN) recently announced its subsidiary, Diamond CBD, Inc., has successfully launched a new product line, Meds BioTech, which expands the Company's product marketing and distribution into health-focused distribution channels, such as vitamin shops, health product stores, gyms, chiropractic offices and physicians' offices, which the Company regards as a new industry sector for the distribution of its products. Dr. Richard Goulding, CEO, stated, "We have designed this new product line, Meds BioTech, to appeal to health-conscious consumers and health-focused distribution channels, while adding under this new brand such new formulations as 'CBD & Turmeric' capsules." He added, "By creating these specially-designed products formulated and packaged to meet the needs of this sector, we believe we will carve out in 2018 a strong presence in, and sizable incremental revenue source from these new distribution channels. We believe the result will be a significant spike in our consumer awareness, brand preference and distribution footprint."
Rocky Mountain High Brands Inc. (OTCQB: RMHB) recently announced an update from its Chairman, President & Chief Executive Officer, Michael Welch, on the Company's Master Manufacturing Agreement with CBD Alimentos SA de CV ("Client"). Mr. Welch stated, "In January, we amended the agreement with our Client at their request to switch from our Rocky Mountain High functional beverages with hemp seed extract to a new formulation of our Rocky Mountain High functional beverages with water soluble cannabidiol ('CBD'), containing a non-detectable level of 0.00% THC (the compound that creates a 'high'). With an agreement worth an estimated $7.2 million, we believe that this represents one of the largest single orders of CBD-infused beverages in the industry*. Rocky Mountain High Brands will be one of the first companies to infuse a functional beverage with CBD in a can, which affirms our trailblazer status. Migrating from a hemp-based product to a CBD-infused offering demonstrates our Client's confidence in Rocky Mountain High Brands' product quality, capabilities, flexibility, and leadership status." Mr. Welch concluded, "In addition to our CBD-infused beverages, we are also researching other products to present to our Client to enhance their portfolio. As demonstrated by our recent HEMPd product line announcement, we are evolving into a more diverse brand in 2018, which will provide the Company different sources of revenue. This private label agreement is a very important step in our diversification. Properly executing it is a top priority for the Company at this time."
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