CannaGreed.com News Commentary – Canada legalized cannabis last year, but all eyes are now on the U.S as the Farm Bill was passed and new States continue to legalize cannabis.The U.S. cannabis market is expected to generate over $23 billion in sales by 2022, according to Arcview Research. A recent poll shows 93% of Americans are now in favor of legalization.
As evidence continues to surface over the benefits of CBD for humans, more and more people are turning their attention to what it can do for pets. CBD for domesticated animals, most notably cats and dogs, is gaining considerably more attention from consumers, and, in turn, the cannabis industry. With pet owners spending more than $30 billion a year on supplements and other types of treatments, it is a fast-growing sector that businesses cannot ignore.
Earlier this year, EnvirTechnologies International, Inc. (OTC: ETII) announced that its subsidiary, CBD Health Co., (www.cbdhealthco.com), a company that markets and sells high quality and proprietary hemp-based, natural CBD health products, is prepared to launch a unique hemp-based pet supplement product.
“We are excited to launch our premier CBD product line for pets. These new products have been in the works for some time as we realize the growth of the pet market and its importance to the domestic and international markets,” said Jo De Leon, CBD’s President. “The new line will include tinctures, balms, treats and food supplies. The line creates great synergy for both our company, and the consumer, as both can enjoy the benefits from hemp-based products.”
Humans use hemp products to treat chronic pain, epilepsy, and anxiety. Dosing pets with CBD is an emerging trend among pet owners in the US and internationally. Medical studies have shown CBD to have a potent anti-arthritic therapeutic action, also including benefits for nausea, seizures, anxiety, and cancer. The pet food and product markets have grown to over $7 billion worldwide, nearly doubling since 2000.
The company to work closely with veterinarian doctors attending trade shows, and launching national campaigns to penetrate the market. Along the way the company will educate the public on safe and natural ways to treat their pets.
3 Good Reasons EnviroTechnologies International, Inc. (OTC: ETII) shares looks undervalued now:
- The CBD market for pets is expected to grow by 3 to 5 percent annually, bringing the pet supplement market to $1.6B dollars by 2020.
• In 2017, sales of cannabis products marketed for pets at medical and adult-use cannabis dispensaries was nearly $7 million in California, Colorado, Oregon and Washington, according to BDS Analytics. In Colorado, sales of pet products grew 49 per cent in 2017, versus growth across all product categories at 15 per cent, it said.
• Dosing pets with CBD is an emerging trend among pet owners in the US and internationally. Medical studies have shown CBD to have a potent anti-arthritic therapeutic action, also including benefits for nausea, seizures, anxiety, and cancer.
EnviroTechnologies International, Inc. reported estimated 2018 revenues and First Quarter equipment orders under contract.
“We expected 2018 to be, primarily, a research and development year as we completed design and technical upgrades to our proprietary and patent-pending machines that produce electrolyzed oxidative fluids (EO Equipment), used by our customers in the carpet-cleaning, agriculture, food service and other related and unrelated industries. We anticipated contracts on or new EO Machines to begin Second Quarter 2019,” said Gaylord Karren ETI’s President.
“First Quarter, 2019 revenues will be approximately $605,000 and contracts for Second Quarter, 2019 are expected to be $885,000.”
If you’re looking for ways to gain exposure to the U.S. cannabis industry, EnviroTechnologies International Inc. (OTC:ETII) , a publicly traded company based in Utah, who already has one foot in the CBD pet industry, could be the right choice for both short and long term investors.
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