This is according to a Mordor Intelligence report that is forecasting the industry’s growth through 2027. Why is the Pet CBD industry growing at such a fast rate? If you’ve ever owned a pet you know exactly how expensive taking care of them can be. Veterinary procedures and prescription medication are often expensive and most are not even covered by pet insurance. CBD treatments are a much more affordable and natural way of treating illnesses and chronic ailments like anxiety and pain.
Of course, the United States and North America are the leading users of CBD treatments for both humans and pets. The broader cannabis industry has been a difficult one for investors to navigate. Despite continued state legalization, Federal legalization has been a dead end. Some are hopeful that the impending MORE Act vote in the US Senate will change this, but most industry experts agree that it doesn’t seem likely. CBD treatments are legal in states that have not legalized cannabis and are also legal in countries around the world that are burdened with strict drug enforcement policies.
If you believe the CBD industry can continue to grow for both humans and animals, add stocks like Charlotte’s Web (OTC:CWBHF), Canopy Growth (NASDAQ:CGC), Jazz Pharmaceuticals (NASDAQ:JAZZ), and Endexx (OTC:EDXC) to your watchlist.
$CWBHF $CGC $JAZZ $EDXC