Veritas Farms Inc., a vertically integrated agribusiness focused on the production of full spectrum hemp oil products with naturally occurring cannabinoids, is pleased to announce that they unveiled their upcoming line of full spectrum hemp oil infused pet products at the ERCM Hemp Derived Pet Products Showcase held on November 4th – 6th, 2019, in Cape Coral, Florida. Veritas Farms won second place for best product for its upcoming line of chewable full spectrum hemp oil pet products.
“We are very happy with the reception our upcoming line of pet products received in Florida,” explained Alexander Salgado, CEO and co-founder of Veritas Farms. He continued “It is estimated that around 10% of all hemp and CBD products will be designed for pets in the future and we believe that our full spectrum hemp oil line for pets is going to become a considerable segment of our product line.”
The Company also met with key decision makers from multiple national chain pet retailers with the goal of securing distribution partners for its upcoming pet line.
Hemp derived pet products are set to become an important part of the overall CBD and hemp sector. The CBD industry as a whole is expected to be worth approximately $24 billion by 2023, according to Brightfield Group, and pet sales are expected to count for approximately 7% of the sales volume.
Over the coming months, the Company will be announcing further details about its line of full spectrum hemp products for pets and its anticipated launch date.