Pet Releaf Dominates the CBD Pet Market with 2020 Growth Expected to Reach 30% in Q1
Pet Releaf, the market-leading, #1 most-trusted organic CBD and hemp pet product manufacturer, reports significant growth in 2019 due to increased interest in CBD pet products, expanded product lines, and market demand for the highest possible quality USDA organic CBD pet products.
"This has been a breakout year for the CBD pet industry as a whole and specifically for our company as we continue on our mission to change what healthy means for petstm," said Steve Smith, Co-Founder and President of Pet Releaf. "We have a moral obligation to educate as many pet parents as possible on the benefits of CBD. This year, we expect to see mass adoption of CBD pet products and anticipate a 30% increase in revenue in the first quarter of 2020."
Pet Releaf achieved the following milestones in 2019:
- Expansion ? Pet Releaf products are now available in more than 6,000 retailers nationwide, a 50% increase over the previous year.
- Company Growth ? Year-over-year revenue has increased by more than 33%. The staff has grown more than 50% percent over the last year and office space tripled. Pet Releaf moved into a new, 25,000-square-foot state-of-the-art manufacturing facility.
- Product Line ? Pet Releaf doubled the number of SKUs in the company's product line, now offering more than 30 SKUs for dogs and cats.
- Market Leadership ? According to the Brightfield Group, Pet Releaf products accounted for approximately 65% of the market's retail pet CBD sales.
- Third-Party Validation ? Pet Releaf is the first "pet only" CBD company to achieve the prestigious U.S. Hemp Authority (USHA) Certificationtm, as well as the only CBD pet products company that sits on the Board of Directors of the U.S. Hemp Roundtable. Smith was recently nominated to the Executive Committee of the U.S. Hemp Roundtable and named an Honorary Board Member of the Hemp Industries Association.
- Industry Accolades ? The company won several 2019 awards for excellence in product quality, including Pet Insight's Vanguard and Category Captain Awards, the Pet Business Industry Recognition Award, the Pet Product News Editors' Choice Award, Pet Guide's Best CBD Oil for Dogs Award, and LUXlife Magazine's Best CBD Pet Products Company Award.
- Philanthropy ? Pet Releaf works with more than 30 animal shelters and nonprofit organizations worldwide to support daily struggles or natural disasters. As part of this effort, Pet Releaf was awarded exclusive rights to the iconic Keith Haring Barking Dog imagery. The company launched its special edition Barking Dog collection of Edibites, an all-natural, full-spectrum daily CBD supplement that benefits the Keith Haring Foundation and rescue animals of all ages.
All of Pet Releaf's products incorporate hemp that is certified USDA organic and grown at the company's joint-venture hemp farms strategically located across Colorado. Pet Releaf uses the entire hemp plant to provide full-spectrum CBD products that are highly nutritional, effective, and safe.
About Pet Releaf
As the industry's pioneer and market leader in CBD products for pets, Pet Releaf's mission is to change what healthy means for petstm. By producing the highest quality hemp products for dogs, cats, and many other mammals, they are doing just that. All of their products incorporate hemp that is certified USDA organic and grown at their joint-venture hemp farms strategically located across Colorado. By utilizing the entire hemp plant, extracting their full-spectrum hemp oil using a super critical CO2 method, and making products using all-natural and organic ingredients, Pet Releaf has created "beyond human grade" products with proven positive results for animals. Pet Releaf products are sold in over 6,000 independent retail stores across the United States and can also be found in Asia, Africa and Europe.
For more information, please visit www.PetReleaf.com.
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