Lucrative Market6 May 2019 15:52
Lucrative market
CBD is one of the hottest consumer products in the market today. It’s being added to everything from tea to body lotion and meatballs. Pet products are another possibly lucrative market since people love splurging on their pets. Last year, Americans spent $33 billion on pet food and treats, according to Nielsen.
Sales of CBD pet products quadrupled last year to $32 million from $8 million in 2017, according to the Brightfield Group. The cannabis-focused research firm estimates the market could balloon to $1.16 billion in the U.S. alone by 2022