On Friday, March 23rd, PotNetwork Holding Inc.’s wholly owned subsidiary, Diamond CBD Inc., closed out a highly advantageous week at the Global Pet Expo, garnering interest from over 200 new wholesale distributors well suited to carry the brand’s groundbreaking CBD-for-pets product line, “MediPets.”
“MediPets” offers pet retailers a unique opportunity to take part in a growing trend forecasted by leading research firms to drive the global pet care industry. Wholesale distributors across the country and around the world continue to turn to Diamond CBD Inc.’s products for their innovative approach to treating health and wellness in humans, and, now in animals.
In 2017, American pet owners spent more than $69.36 billion on their pets. Of that number, nearly $15 million was spent on over-the-counter health and wellness products, a sector just enhanced with Diamond CBD’s innovative “MediPets” product line. According to Euromonitor International’s presentation State of Global Pet Care: Trends and Growth Opportunities, the global pet care industry is expected to reach $110 billion in 2017. This report cites the increasing “humanization of pets” among pet owners as a key factor contributing to over $14 billion in incremental growth to this market over the last 5 years.
Technavio, leading market research firm, recently analyzed the global pet care industry and forecasted a CAGR of 5% between 2016-2020. According to that report, rising pet ownership combined with increased consumer spending on premium natural and organic pet care products are fundamental factors driving that growth. As consumer perception evolves, the desire to invest accordingly heightens the demand for premium nutritional and wellness supplements. Diamond CBD Inc. has structured to take advantage of the opportunity, bringing to market extremely high potency CBD oil extracts, formulated specifically for the unique needs of these family members.
“Our new MediPets line is specifically designed to manage a wide variety of symptoms in their pets with reportedly effective, non-toxic, hemp-derived cannabinoids. CBD has shown in studies to aide in a spectrum of conditions*. We are pleased to be experiencing this level of interest as we expand into this new and growing sector,” stated Richard Chief Executive Officer, PotNetwork Holding Inc.
*One of the major ingredients of cannabis, and the source of CBD rich hemp oil, cannabidiol, has been formally recognized by the U.S. Patent Office as an “antioxidant and neuroprotectant”. Filed in 1999, and published in 2003, U.S. Patent 6630507 has recognized cannabidiol as an effective antioxidant. Antioxidants are generally useful in the treatment of oxidative diseases and are known for anti-aging effects. Treatment resistant ailments such as Alzheimer’s disease, Parkinson’s disease, and HIV dementia are mentioned in the abstract as potentially treatable with antioxidant CBD. Inflammatory and autoimmune diseases are also noted.
About Diamond CBD Inc.: Diamond CBD focuses on the research, development, and multinational marketing of premium hemp extracts that contain a broad range of cannabinoids and natural hemp derivatives. Diamond CBD’s team consists of hemp industry pioneers and natural product experts, chemists, doctors and scientists, dedicated to producing the finest and purest cannabidiol (CBD) oils. The result is a robust selection considered among the most powerful natural CBD oils, tinctures, edibles, and vape liquids found anywhere. For more information, please visit its website at www.DiamondCBD.com.
About PotNetwork Inc: PotNetwork Inc. brings to market PotNetwork.com, a counter-culture, cutting-edge digital magazine, publishing up-to-date news and articles on the cannabis industry. PotNetwork, Inc operates as a wholly owned subsidiary of the Company; PotNetwork.com operates as a media resource providing a full range of industry related topics.
About PotNetwork Holding, Inc: PotNetwork Holding, Inc. (OTC Pink:POTN) is a publicly traded company that acts as a holding company for its subsidiaries, First Capital Venture Co., the owner of Diamond CBD, Inc, the maker of Diamond CBD oils.
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