The global CBD pet market size is expected to reach USD 399.2 million by 2027, expanding at a CAGR of 40.3%, according to a new report by Grand View Research, Inc. increasing health expenditure and growing health concern among the owners of domesticated animals are driving the market. In addition, increasing demand for Cannabidiol (CBD) infused food products is boosting the market growth. Furthermore, increased usage of natural supplements in treating various lifestyle-related disorders in the domesticated animals is fueling the growth.
The
cannabidiol infused product is also found useful in cancer-related pain in
animals. Rising adoption of domesticated animals and their increased health
expenditure are further anticipated to put market growth on the expedited
platform in the coming few years. For instance, according to the National Pet
Owners Survey carried out by the American Pet Products Association (APPA),
around 67.0% of the U.S. households own a domesticated animal that constitutes
85.0 million families in the country as of 2019.
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CBD Pet Market
Report Highlights
- The increased use of
cannabidiol infused products and increasing lifestyle-related disorders in
domesticated animals is propelling the market growth
- In terms of revenue, the
food-grade segment dominated the market with a revenue share of over 60.0%
in 2019, owing to increased product availability and consumption.
Moreover, the growing popularity of organic foods among humans as well as
domesticated animals is further propelling the demand
- Cannabidiol oil dominated
the therapeutic grade segment as of 2019. The growth can be attributed to
its application in various diseases such as joint pain, gut problems,
sleep disorder, and anxiety
- General health/wellness
dominated the application segment as of 2019. The growth can be attributed
to the growing incidence of arthritis and joint-related disorders in
domesticated animals
- The anxiety/stress
application segment is expected to show the fastest growth over the
forecast period owing to the increasing application of cannabidiol
supplements in anxiety-related disorders in domesticated animals
- On the basis of end-use,
e-commerce held the largest revenue share in 2019 owing to product
availability and ease of ordering.
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CBD Pet Market
Segmentation
Grand View Research has segmented
the global CBD pet market on the basis of product, application, end-use, and
region:
CBD Pet Product
Outlook (Revenue, USD Million, 2016 - 2027)
- Therapeutic Grade
- Pet Supplements
- Pet CBD Oil
- Food grade
- Treats
- Chews
- Others
CBD Pet Application
Outlook (Revenue, USD Million, 2016 - 2027)
- Joint Pain
- Anxiety/Stress
- Epilepsy
- General Health/Wellness
- Others
CBD Pet End-Use
Outlook (Revenue, USD Million, 2016 - 2027)
- Pet Specialty Stores
- e-commerce
- Others
CBD Pet Regional
Outlook (Revenue, USD Million, 2016 - 2027)
- North America
- The U.S.
- Canada
- Europe
- The U.K.
- Germany
- France
- Italy
- Spain
- Asia Pacific
- Japan
- China
- India
- Latin America
- Brazil
- Mexico
- Argentina
- Middle East & Africa
- South Africa
- Saudi Arabia
List of Key Players
of CBD Pet Market
- Honest Paws
- Canna-Pet
- Fomo Bones
- Pet Relief
- HolistaPet
- Joy Organics
- Wet Noses
- CBD Living
- Pet stock
- Petco
- Charlotte’s Web
About Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and consulting
services. To help clients make informed business decisions, we offer market
intelligence studies ensuring relevant and fact-based research across a range
of industries, from technology to chemicals, materials and healthcare.
For more info visit @ https://www.grandviewresearch.com
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