Denver-based Pure Harvest Cannabis Group Inc. (OTC: PHCG) announced Thursday it has launched a new subsidiary oriented toward the CBD pet market.

The company, dubbed Wild Pet Blends, will produce blends using pure Colorado CBD oil. They come in the form of pet supplements and chews, rich with full-spectrum CBD, antioxidants, vitamins, etc., as well as digestive enzymes and probiotics.

Pure Harvest touts that it has over a quarter-century experience in the pet industry.

Brightfield Group projects U.S. CBD sales will hit $24 billion in the years to come, naming pet CBD sales the main driver of the market's expansion. The forecasts are pet CBD sales will reach $400 million over the same period.

“Our objective is to develop, identify, and acquire operations in the fastest growing sectors of the already rapidly growing cannabis industry and to establish durable revenue lines,” said Pure Harvest Cannabis Group’s CEO Matt Gregarek in a statement.

According to BDS Analytics and Arcview Market Research projects’ research, over the next four years, the pet CBD market is expected to register five times higher growth rate than the general CBD market.

“Today, we are launching an aggressive national marketing plan to drive demand and awareness online and to secure our position in this vertical,” stated Gregarek.

He underlined their next step is to distribute Wild Pet Blends' products in “as many retail locations as possible.”

Earlier this year, Pure Harvest acquired 51% of the outstanding membership interest in a Michigan-based How Smooth It Is Inc. The partnership authorized Pure Harvest to distribute How Smooth’s cannabis product line.

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