The Michigan governor has approved a regulation that permits veterinarians to discuss with pet owners about giving marijuana to their pets for therapeutic purposes.
According to a report from Oakland Press released on Friday, Michigan legislators passed the bill during December and allows vets to liaise with pet owners regarding the use of hemp or marijuana products for their animals.
Nielsen Global Connect, market analytics leader, said that CBD product sales for pets are experiencing extreme growth. The development comes as America’s FDA (Food and Drug Administration) prepares to legalize cannabinoids for pets.
In April, Nielsen surveyed 100 veterinarians and concluded that they’ve more CBD awareness than the physicians.
Within only two years, specialty pet stores carrying the Functional Remedies’ cannabinoid products increased overwhelmingly, rising from 100-500.
According to Gordon Tim, Functional Remedies’ senior science officer, more people are discerning how cannabinoids and hemp-related products can boost both humans and pets’ wellness.
Functional Remedies is among the markets experiencing tremendous growth.
Lange Maria, cannabis and pet research expert for Nielsen Global Connect, said that CBD product sales for pets reached $58,581 in 2016, and it increased to about USD7.4 million during 2019. She added that 57% of pet stores sold CBD products, increasing from 2018’s 45 percent.
Lange further said that although there is a lot of excitement and anticipation from multiple chain retailers, total acceptance hasn’t been achieved as sellers continue being in the shadows due to the missing FDA guidance regarding CBD commodities.
Based on a 2019 December Nielsen study, pet owners are searching for CBD to help their furry friends with stress, arthritis, back and joint pain, chronic and episodic anxiety as well as general wellness and health.
Maria disclosed that despite the surge, consumers still lack knowledge about cannabinoids for pets and how to administer it appropriately.