Charlotte's Web Holdings, the market share leader in hemp-derived CBD extract products, is pleased to announce the expansion of its canine-focused pet products, launching an all-new 12 SKU lineup comprised of hemp-extract infused chews, flavored and unflavored oils, and a topical balm. Since introducing its first PAWS hemp-extract product for pets in February 2017, interest has exceeded all expectations, producing high demand and sales growth. With today's launch of the expanded pet product line, Charlotte's Web aims to increase its market share in the rapidly growing market segment for hemp-derived CBD pet products. According to market research firm, Brightfield Group, the CBD Pet market is forecast to grow at a Compound Annual Growth Rate (CAGR) of 151% between 2018-2022 to a market size of $1.16B.
The endocannabinoid system (ECS) is not exclusive to humans. Other mammals can also benefit from Charlotte's Web hemp-extracts with a broad spectrum of naturally occurring cannabinoids including cannabidiol ("CBD"). According to market research firm Packaged Facts in its recent report U.S. Pet Market Outlook, 2019-2020, 85 percent of dog owners agree that "My pet sometimes has anxiety/stress issues."
The new functionally focused chews represent a notable new consumable format from Charlotte's Web and come in three formulations with synergistic functional ingredients to target specific health functions including: Calming, Hips & Joints and Cognition. The chews are all-natural, grain and soy free, and feature 2.5mg of naturally occurring phytocannabinoids per chew.
Each chew formulation contains the Company's market-leading Charlotte's Web hemp extract and are uniquely enhanced with functional herbs and botanical supplements that work in synergy to further support each targeted health focus.
Dog chews by Charlotte's Web
Calming
Helps with everyday stresses, including travel or separation, to help your dog keep calm and relaxed. Enhanced with Valerian Root, Passionflower Extract and Chamomile.
Hips & joints
Promotes healthy hips and joints, eases stiffness due to normal daily activity and ageing.
Enhanced with Glucosamine, Turmeric and Chondroitin.
Cognition
Naturally supports brain health. Enhanced with Elderberry Powder, DHA, EPA and Vitamin- E.
All three chew formulations are produced using a new chicken flavor created for the Charlotte's Web canine products line. The new chicken flavor has also been added to the easily digestible and healthy oil products, which now come with an improved pump delivery system making administering oil to pets easier.
Charlotte's Web's new hemp-infused balm can be massaged into a pet's skin for help with stiff joints, tender paws or sensitive skin. The hemp-infused balm features supporting botanical ingredients for topical pet health.
"So many of our customers share amazing stories about the noticeable improvements in their dog's lives when incorporating our hemp-extract into their diets," stated Kelsey Morrison, Associate Director of Product Development at Charlotte's Web. "We applied a thoughtful scientific approach to animal health, expanding from our single oil extract offering to twelve SKUs enhanced with additional botanicals to support your dog's mind, body and soul. This new pet line aims to improve the lives of those who help us improve ours. Because they're not just pets, they're family."
Developed by the Company's animal food sciences team, the entire Charlotte's Web pet line is approved by the National Animal Supplement Council ("NASC") for compliance with animal food and product safety. Charlotte's Web is one of only a few hemp companies to be compliant with NASC. NASC is at the forefront of the push to safely regulate the pet market for animal supplements, offering a quality seal audit program and keeping in close contact with the FDA.
"We all want to see our four-legged friends healthy, happy and safe," said Hess Moallem, President and Chief Executive Officer of Charlotte's Web. "As a proud member of the NASC we strictly adhere to all NASC regulatory guidelines, and each of the pet products we sell go through the NASC approval process. Working closely with the NASC provides pet owners and retailers with assurance that Charlotte's Web pet products are compliant and safe. And, like all our products, over 20 tests are applied throughout the production process. This is only one of the many reason's Charlotte's Web is known as The World's Most Trusted Hemp Extract."
