Based on a report by MarketWatch, therapeutic grade CBD constitutes the vast majority of market share, with this segment accounting for 59.90% of the market in 2018.
For newbie marketers who want to capitalize on the profit potential associated with the CBD market, there are certain steps worth taking to get one step ahead of the competition. Some of the best CBD oil marketing strategies include:
2. 2019: Farm Bill and FDA hearings.
Despite being legalized following President Donald Trump’s signing of the 2018 Farm Bill in December 2018, advertising options are currently limited. The 2018 Farm Bill removed hemp from the Controlled Substances Act and was integrated into the 2018 United States Farm Bill, which was effectuated in December 2018.
In December of last year, President Donald Trump signed the Agriculture Improvement Act of 2018 (2018 Farm Bill, PL 115-334) (the “2018 Farm Bill”) into effect, which removed hemp from the Controlled Substances Act and maintains FDA’s authority to regulate certain hemp-containing products.
“Deceptive marketing of unproven treatments raises significant public health concerns, as it may keep some patients from accessing appropriate, recognized therapies to treat serious and even fatal diseases,” reads an official statement from the former commissioner of the Food and Drug Administration (FDA) Scott Gottlieb, M.D.
Chewable treats are a popular form of pet care CBD.
McGrath found that out of the three specific formulations they tested, the oil had the best pharmacokinetic profile, meaning it reached the highest concentration in the blood, stayed in the bloodstream the longest, and performed the most consistently across the different dogs. The capsule also performed well but the cream less so. It performed too inconsistently for McGrath and her team to draw any conclusions.
How is CBD administered to animals?
Again, it’s too early to tell. A 2018 study found that CBD can help increase comfort and activity in dogs with osteoarthritis and the following year McGrath published a study showing CBD may help reduce the number of seizures experienced by epileptic dogs. But although these studies were well-designed and peer-reviewed, they’re still small and very preliminary.
It’s unclear — and a puzzle researchers are still trying to solve in humans as well. For instance, dogs have an endocannabinoid system but whether CBD interacts with it in the same way experts think it does in humans remains to be seen. For now, all McGrath knows is that in dogs, like in humans, CBD appears to be metabolized by the liver.
Veterinary CBD research has focused primarily on dogs, leaving a lot of cat owners with unanswered questions.