Lifestyle guru Martha Stewart is entering the cannabis market, teaming up with Canada’s Canopy Growth Corp. to develop new products for both humans and pets, infused with an ingredient derived from hemp and marijuana plants, reported the Associated Press.
Stewart’s good pal and co-star on the VH1 series, Martha & Snoop’s Potluck Dinner Party, Snoop Dogg, who is a well-known fan of marijuana, helped introduce her to Canopy Growth. The company has been working with the rapper for more than three years on his Colorado-based Leafs by Snoop product line, which includes THC-infused gummies and chocolate bars.
Bruce Linton, Canopy Growth’s founder, chairman, and co-CEO, told the Associated Press that Stewart visited their headquarters in Smiths Falls, Ontario, last fall “to be sure we were competent because her reputation is of great value.”
“She is so thoughtful about how things tie together. ‘This could compliment that, these parties could be helpful on this,'” Linton stated in a separate interview with CNBC.
Giadha Aguirre de Carcer, the CEO of cannabis research firm New Frontier Data, told the Associated Press that a recent study found that older females with grown kids are the fastest-growing group of cannabis users, a segment of the population that Stewart can clearly relate to.
“This is her audience. This is an underserved demographic that is growing very fast and is willing to pay,” she said.
Therapeutic remedies for pets containing hemp-derived cannabidiol, more commonly known as CBD, will be one of the first new offerings from Stewart and Canopy Growth’s new venture.
“I think it’s a starting spot that was comfortable for everyone involved. We have the science and she’s a lifelong dog, horse, animal person. This just seemed like a really balanced and suitable starting point,” Linton told CNBC.
CBD is an extraction from the flowers and buds of marijuana or hemp plants, according to WebMD. It does not cause the high that is usually associated with pot, but has been reported to help with various health issues, including pain, anxiety, depression, inflammation, sleeplessness, and epileptic seizures. However, many opponents of cannabis say that not enough research has been done on CBD to allow it to be used in products.
Further details about the new products and information about when and where these items will be available for purchase have not been revealed. There are still many legal issues involved with selling products containing CBD in the United States.
The Associated Press reported that the U.S. legalized hemp cultivation at the end of 2018, but noted that the Food and Drug Administration warned that it is still illegal to add CBD and THC to human or animal food and take it across state lines.
Proponents of the cannabis industry believe those laws will soon change, though, as 33 states currently allow the use of medicinal marijuana for adults and public opinion is shifting.
Once completely legalized, expect there to be a large number of pet care, health care, beauty, food, and beverage products on the market featuring cannabis-derived ingredients.