NEW YORK, NY / ACCESSWIRE / March 13, 2019 / Stock Market Press (SMP) focuses on the rapidly growing Pet CBD market. Companies covered in this spotlight include Aurora Cannabis Inc. (NYSE: ACB), Canopy Growth Corporation (TSX: WEED), (NYSE: CGC) and Metatron, Inc. (OTC PINK: MRNJ).
With the recent passage and enactment of the 2018 Farm Bill, the USA federal regulations on Hemp have been lifted, opening up the doors to a hemp boom. Superior quality, along with increased production, are seeing prices drop and more companies expanding their CBD products to include the pet market. In the USA alone, the general pet market is expected to have topped $72B for 2018, an increase of almost 4% from 2017's $69.5B. With the advent of increased Pet CBD products, 2019 could see a much larger increase. Enter PetMojo and Metatron, Inc. (OTC PINK: MRNJ).
Metatron, Inc. (OTC PINK: MRNJ) just announced they have secured a deal with PetMojo, a company with over 20 years experience in eCommerce and 15 years experience running luxury pet services businesses. Through their combined talents, PetMojo and Metatron, Inc. (OTC PINK: MRNJ) are going to develop and market a new Pet CBD product sales App for both iTunes and Google Play users.
''Pet-and-animal product CBD sales are estimated to reach $125 million by 2022, representing a 5-year CAGR of 57 percent, among the fastest-growing sectors in the CBD market.'' - Metatron, Inc. Press Release.
Canopy Growth Corporation (TSX: WEED) (NYSE: CGC) has received approval to being researching the effectiveness of cannabidiol (''CBD'') to treat anxiety in certain animals. Marc Wayne, Managing Director, Canopy Health Innovations commented, ''The use of natural-occurring cannabinoids as a therapy for companion animals is a logical new forefront of medical discovery and the research we are working on at CAH is world leading. These trial approvals mark a significant milestone on the journey of making cannabis-based drugs accepted and recommended by veterinarians.''
The CBD market growth is worldwide, even a country like Germany is seeing its market opening up. Companies like Aurora Cannabis Inc. (NYSE: ACB) can now expand sales of cannabis oil to German pharmacies after receiving approval. They are making the difficult inroads that will allow companies like PetMojo and Metatron, Inc. (OTC PINK: MRNJ) to bring their products to the German pet owning population, a group who cares for over 34M pets.
Metatron, Inc. (OTC PINK: MRNJ) is tapping into another huge market, increasing both their product exposure as well as revenues, since the majority of CBD pet products are sold online.
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SOURCE: Stock Market Press