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Feb. 10, 2020, 7:43 a.m. EST

CBD Pet Market Seen As Hitting $1.7 Billion By 2023, Great News For Companies Such As CBD Unlimited, Inc. (otc pink:EDXC)

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Feb 10, 2020 (Stock Market Press via COMTEX) -- As the CBD pet market skyrockets to $1.7 billion by 2023, as projected by Brightfield Group, CBD companies that focus on this market are seeing opportunities selling to owners of pets, such as horses, cats and dogs. Offering a variety of pet chews, oils and equine products, CBD Unlimited, Inc. (OTC PINK: EDXC) sees a marketing opportunity for its line of Trailer Mixx, Phyto-Drops, and Phyto Bites. These products are hemp derived and THC free.

CBD pet marketing is making news. As a result, media companies such as stockmarketpress.com features enhanced coverage of CBD related stocks such as CBD Unlimited, Inc. (OTC PINK: EDXC), Supreme Cannabis Company /zigman2/quotes/203819708/delayed SPRWF -4.34% , Canopy Growth Corp. (NYSE: CGC), New Age Beverages Corp. (NASDAQ: NBEV), GW Pharmaceuticals PLC (NASDAQ: GWPH) and Neptune Wellness Solutions Inc. (NASDAQ: NEPT) (TSX: NEPT).

CBD pet market seen as hitting $1.7 billion by 2023 great news for companies such as CBD Unlimited, Inc. (otc pink:EDXC)

Owners of pets are seen easing the pain and anxiety of pets -- as they age and sometimes fear natural events such as thunderstorms -- and they wish to make their pets more comfortable. While there is anecdotal documentation on CBD's impact on pets, consumers and some veterinarians believe it can help. CBD Pet Market Seen As Hitting $1.7 Billion By 2023, Great News For Companies Such As CBD Unlimited, Inc. (OTC PINK: EDXC).

CBD products are marketed by companies such as CBD Unlimited, Inc. (OTC PINK: EDXC)

Consumers have empathy for the feelings of their pets and seem to believe that non-THC CBD oils and treatments are helpful to them in easing pain and preventing the fear of thunderstorms, fireworks and other loud events. Brightfield Group estimates that the pet CBD market is taking off -- growing 946% in 2019. It sees the CBD pet market seen as hitting $1.7 billion by 2023 great news for companies such as CBD Unlimited, Inc. (otc pink:EDXC).

Reports have shown that CBD for pets is a market on its own, but it may also trigger additional sales or come from those add-on sales. As consumers take CBD products, they may try addition ones for pets. Or they may buy CBD for pets first, then try CBD products for humans themselves. Either way, the pet CBD market cannot be seen only by itself. It is probably tied to CBD sales to human owners, as well.

CBD pet market seen as hitting $1.7 billion by 2023, great news for companies such as CBD Unlimited, Inc. (OTC PINK: EDXC)

The CBD pet market appears to have grown out of nowhere. Brightfieqld Group research estimated that it was a $32 million market in 2018, grew to $781.5 million this year. CBD pet market seen as hitting $1.7 billion by 2023, great news for companies such as CBD Unlimited, Inc. (OTC PINK: EDXC). CBD is found to be a full line opportunity for aggressive marketing companies using a seed-to-shelf structure that ensures quality control, such as CBD Unlimited, Inc. (OTC PINK: EDXC).

Source: Stock Market Press

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COMTEX_361777887/2617/2020-02-10T07:43:17

/zigman2/quotes/203819708/delayed
US : U.S.: OTC
$ 0.19
-0.0084 -4.34%
Volume: 403,710
April 1, 2020 3:52p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$68.57 million
Rev. per Employee
N/A
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