The cannabis market is on track to grow 700 percent by 2020 and Martha Stewart is not wasting any time getting a slice of pot pie.

The American media mogul, who rose to fame with her Martha Stewart Living magazine and television show, has decided to expand her footprint in the industry by joining forces with Canadian cannabis company Canopy Growth Corporation to develop a unique range of cannabinoid-containing pet products.

“I am delighted to establish this partnership with Canopy Growth and share with them the knowledge I have gained after years of experience in the subject of living,” said Stewart, who is also good friends with fellow budding entrepreneur Snoop Dogg. “I’m especially looking forward to our first collaboration together, which will offer sensible products for people’s beloved pets.”

According to the American Pet Products Association, Americans forked out $70 million on pet products in 2018. As a subject that many older consumers are not well-versed on quite yet, Martha’s foray into the mainstream cannabis pet product market could evoke a sense of trust amongst older consumers who may otherwise feel skeptical about giving cannabis to their pets.

Who is Canopy Growth?

Formerly known as Tweed Marijuana Inc., Ontario-based Canopy Growth Corporation was founded in 2013 by Bruce Linton and Chuck Rifici. However, Linton was recently terminated from the company, but not before he had time to comment on Canopy collaborating with the 77-year-old.

“As soon as you hear the name Martha, you know exactly who we’re talking about,” said the company’s former chairman and co-CEO, Bruce Linton. “Martha is one of a kind and I am so excited to be able to work alongside this icon to sharpen our CBD product offerings across categories from human to animal.”

Although Canopy doesn’t currently sell its product in the U.S., the company’s pot stock shares can be found trading on the New York Stock Exchange (NYSE), not to mention the Toronto Stock Exchange (TSE).

Alcoholic beverage producer Constellation Brands funneled a $4 billion investment into Canopy in 2018. Constellation, which is responsible for producing and distributing well-known drinks brands like Corona and Black Box Spirits, plans on rolling out a range of weed-infused beverages in the near future.

Martha and Canopy partnership could help CBD move further mainstream

THC (tetrahydrocannabinol) and CBD (cannabidiol) are just two of many other phytocannabinoids emerging for their use in health and wellness applications. Martha and Canopy are focusing on the cannabis and hemp plant’s non-psychotropic cannabinoid, CBD. This naturally-occurring chemical compound reacts with the body’s endocannabinoid system (ECS), which scientists have discovered that animals also have inside their bodies!

As a cannabinoid that possesses anxiolytic and anti-inflammatory effects, CBD could have serious potential as a treatment for common pet illnesses and injuries, from pain and skin conditions to anxiety and insomnia. Associating a household name like Martha Stewart with Canopy Growth is sure to stimulate plenty of interest amongst prospective consumers who may be dubious about introducing CBD not only into the lives of their pets but also, into their own lives.

The CBD market is on the verge of exploding and as it continues to grow, the smoke clouds surrounding this non-psychoactive cannabinoid’s legal status are starting to clear; CBD derived from hemp is completely legal in all 50 U.S. states. However, until cannabis is legalized at the federal level, cannabis-derived hemp will remain illegal. Nebraska, Idaho and South Dakota completely outlaw CBD-containing products.