As the global pet care market continues it seemingly never-ending rise, year after year all things point to the fact that CBD infused products will be among the winners in the race to revenues.
It is projected that U.S. pet store sales will grow from around 19.5 billion U.S. dollars in 2018 to approximately 22.39 billion U.S. dollars by 2023; and according to a report by Grand View Research the global pet care market is expected to reach USD 202.6 billion by 2025.
New research sponsored by RestoraPet and conducted by BDS Analytics and Arcview Market Research projects the CBD Pet to grow up to $810 million and grow 5% faster than the overall CBD market over the next four years.
Pet products have racked up over $9.4 million in sales at regulated adult-use cannabis retailers in California, Colorado, Nevada and Washington combined. This covers the period from the first quarter of 2018 through the third quarter of 2019.
As CBD pet products become more readily available and accepted, well positioned suppliers and distributors will be able to exploit the tremendous opportunities for growth in the CBD pet sales.
Smaller startups are also finding their way into the market and there are only a few names in the CBD Pet industry that investors can look to with a short term upside potential.
LinkResPet, a subsidiary of Link Reservations Inc (OTC: LRSV), is CBD Petcare provider dedicated to improving the health and life conditions of pets worldwide. Developing and marketing hemp-based CBD products for cats, dogs and horses, Link Reservations Inc is currently present in Europe and in the US.
LinkResPet is settling as a strong contender in the North American market and is positioned to reap the rewards from the surge in demand for CBD pet products. The next step: hiring sales representatives – a key initiative that will allow the company to expand its reach and sell its products in a variety of retail suites, through wholesale online and in brick-and-mortar shops on US Highways.
Rene Lauritsen, LinkResPet CEO, commented: “The CBD market moves really quickly, and we must adapt to it. We are very excited about the launch of our e-commerce shop, but now our focus turns on how to get our product out there and with that in mind we are looking for sales representatives to go that extra mile with us. We want to increase our market share and validate our products with the best of the industry. This is an exciting time to join LinkResPet and I am thrilled to welcome new people to our growing company.”
LRSV is trading at a discount compared to other players. In our view, a bounce is all but guaranteed. Use this to your advantage to make some money back. Right now, all of the fear and negativity is priced in. That means, in the short-term, LinkResPet (OTC: LRSV) shares have nowhere to go but up.