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Grapefruit USA, Inc. Expands Its Hemp Based CBD Products with a New USDA Certified Organic CBD Pet Tincture
Grapefruit USA, Inc. Expands Its Hemp Based CBD Products with a New USDA Certified Organic CBD Pet Tincture.
About this update from Grapefruit Usa Inc.
[{"type":"text","content":"\n LOS ANGELES and DESERT HOT SPRINGS, Calif., June 14, 2021 (GLOBE NEWSWIRE) -- via InvestorWire – Grapefruit USA, Inc., (“GPFT,” “Grapefruit” or the “Company”) (OTCQB: GPFT), a California based hemp and cannabis company, announces today that it is expanding its hemp-based cannabidiol (“CBD”) product line with a new U.S. Department of Agriculture (“USDA”) certified CBD pet tincture targeting two of the most common dog and cat ailments – anxiety and joint pain. Grapefruit’s new Pet 300 mg CBD hemp-based tincture is derived from USDA Certified Organic hemp, grown only in the United States.The pet CBD industry has experienced significant growth over the last several years, with an expected market valuation of over $1.7 billion by 2025, according to the Brightfield Group. Overall pet ownership is also increasing, due partly to the pandemic, with more than half of U.S. households having a pet dog or cat and 64% of CBD consumers are specifically buying CBD products for their pets because of the holistic benefits they provide.   The global CBD pet market size was valued at USD$27.7 million in 2019 and is expected to grow at a compound annual growth rate (CAGR) of 40.3% from 2020 to 2027. The perceived benefits of cannabis, high awareness among pet owners, and consumers’ preference for natural pet supplements have led to an upsurge in the growth of this market. “We understand that pet owners are now demanding organic, plant-based, natural remedies to keep their furry family members calm and in good health, and avoid the potential negative side-effects of generic, synthetic pet medications,” said Bradley Yourist, co-founder and CEO of GPFT. “Grapefruit’s new Pet CBD Tincture meets that pet-owner market demand because it is derived from hemp grown right here in the U.S. and each batch is lab tested for purity.” “Our commitment to obtain the USDA certified organic seal clearly demonstrates GPFT’s continued commitment to creating the best, high-quality, safe and effective CBD products for our customers, be they human, feline, canine or otherwise. Our pets deserve the same relief that their owners have experienced with our other CBD products, such as our THC free, hemp-derived CBD Hourglass time-releas...