CBD Pet Market by Product Type, Application, and End User Global Opportunity Analysis 2021-2030
Cannabidiol Pet Market Overview
The Cannabidiol Pet Market was estimated at USD 125.00 Million in 2020. Between 2021 and 2028, it will increase at a compound annual rate of 58.9 percent. This growth can be attributed to the perceived benefits of cannabis and the preference of pet owners for natural products. CBD-based products can be a good alternative for pets suffering from mental or physical illnesses. According to the Cannabis product news report, approximately 24.0 percent of U.S. pet owners use CBD products for their pets and themselves. CBD is proven to be effective in treating insomnia, anxiety, epilepsy, and other conditions. Another driver is the increasing prevalence of anxiety issues in pets, especially dogs.
Cannabidiol Pet Market Driving Forces:
A huge growth opportunity for the pet CBD sector
Due to an increase in GITand bowel-related issues in animals, CBD for pets will likely increase. Pets can also experience anxiety and sleep disorders, which could suggest a growing demand for pet CBD. Treatment of cancer-related ailments in animals with cannabidiol is essential. It is possible to see huge growth in the pet CBD market if there's an increase in demand for CBD derivatives. Pets may also be affected by heart conditions, including heart attack and tachycardia.
Restrictive factors for Cannabidiol Pet Market:
Side effects in restraining future growth of the pet CBD market.
CBD can also be utilized to treat heart diseases. Pet CBD is becoming popular because of this. The most crucial aspect of the pet CBD business is the CBD dosage regime. Pets may become unconscious if they are given a dose that is higher than their normal. This can result in slower growth. It could cause side effects such as dry mouth dizziness as well as low blood pressure which may limit the growth of the pet CBD market.
Cannabidiol Pet Market Key Market Trends:
Pet food has become the most popular choice to take organic supplements. This has led to an increase in the use of CBD supplements. CBD (Cannabidiol) products are now popular with pet owners, both dogs, and cats. CBD can be used to treat anxiety as well as joint pain. The American Pet Products Association's research revealed that CBD-based items are most popular with 34% and 39% of pet owners, respectively, after the legalization. CBD treats or supplements are preferred by nearly 11 percent and 8 percent of pet owners, respectively. Given the potential expansion of the CBD pet market, and the many efforts of trade organizations to secure regulatory guidelines it is expected that CBD pet products will witness more growth during the forecast time.
Cannabidiol Pet Market Latest Developments
Sky Wellness, which supplies CBD to pets and people has launched a new CBD wellness line for dogs under the D Oh Gee brand. Three broad-spectrum CBD products, which are THC-free as well as THC-free, are part of the collection. They are designed to aid in joint mobility and joint health. PAO Group Inc. released its first two CBD nutraceutical products in 2021 RehabRX CBD (a sleep aid) and RehabRX CBD (a salve). FOMO Bones launched a new website on Shopify in the month of October 2021. It became the first CBD-approved retailer using the platform.
Cannabidiol Pet Market Key Companies:
The Cannabidiol Pet Market includes Petco Health & Wellness Company Inc., Charlotte's Web, Joy Organics Llc, Pet Relief, HolistaPet, CBD Living, Fomo Bones, Wet Noses Inc., Honest Paws LLC., Canna-Pet LLC, and others.
Cannabidiol Pet Market Segmentation:
The CBD Pet Supplements Market Segmentation is based on specific types. Global CBD Pet Supplements can then be classified into Tinctures (Powders and Gels) Treats (Treats), and Tropicals. In addition, the pet CBD market can be divided into two kinds based on the type of sources such as hemp and marijuana. The market could be divided into various indications for bowel issues, sleep disorders, cancer, epilepsy, and other disorders. You can also divide the market into pet stores vet hospitals, pet shops, and online stores based on end-users.
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