CBD Pet Market by Product Type, Application, and End User Global Opportunity Analysis 2021-2030
Cannabidiol Pet Market Overview:
In the year 2020 in 2020, the Global Cannabidiol Pet Market was valued at USD 125.00 million. Between 2021-2028, it is projected to expand at an annual compound rate of 58.9%. This growth can be attributed to the perceived benefits of cannabis, as well as pet owners' preference for products that are natural. The market is driven by the advantages of CBD-based pet products that suffer from physical and mental issues. According to the Cannabis Product News Report, roughly 24.0 percent of U.S. pet owners use CBD products for their pets as well as themselves. CBD has been proven to be effective in treating insomnia, anxiety epilepsy, and other disorders. A further factor in the development of anxiety disorders in pets is the increase in dogs and cats who suffer from them.
Cannabidiol Pet Market Driving Factors:
Pet CBD is expected to grow due to the increase in GITand bowel problems in pets. Pets can also experience problems with sleep and anxiety, which may indicate a growing demand for CBD-based pet products. The treatment of cancer-related issues in dogs using cannabidiol can be crucial. There may be lucrative growth in the pet CBD market if there's an increasing need for CBD derivatives. Pets are also affected by heart problems, such as tachycardia or heart attacks.
The Pet Market for Cannabidiol Restrictions:
CBD can also be utilized to treat heart disease. Pet CBD is growing in popularity due to this. One of the most important aspects of the pet CBD industry is the CBD dosage regimen. If pets receive more CBD than they normally receive, it can cause them to be numb. This may result in slow growth. Other side effects like dry mouth, sleepiness, and low blood pressure might cause a slowing in the growth of the pet CBD market.
Cannabidiol Pet Market Key Market Trends:
Consumers' preferences in organic supplements have been shifting to pet food. This has led to an increase in the use of CBD supplements. CBD (Cannabidiol) products are now popular for pet owners, both canine and feline. CBD can help reduce joint pain and anxiety. The American Pet Products Association's study revealed that CBD-based products are most popular with 34 percent and 39% of pet owners, respectively, following the legalization. Around 11 percent and 8% of cat and dog owners use CBD products or pet treats. The potential for growth in the CBD pet market as well as the numerous trade efforts to achieve regulatory guidelines suggests that there will be an increased increase in the demand for CBD pet products in the forecast time.
Cannabidiol Pet Market Recent Developments:
Sky Wellness, which provides CBD for both pets and humans has launched a new CBD Wellness line for pets under the D Oh Gee brand. The range includes three broad spectrum CBD products that are non-THC as well as THC-free. They're made to aid in joint mobility and joint wellness. PAO Group Inc. launched its first two CBD nutraceutical products, RehabRX CBD (a sleeping aid) and RelaxRX CBD CBD (a salve). FOMO Bones, the first CBD-certified business to launch its own website on Shopify launched a new website in October 2021.
Cannabidiol Pet Market: Key Companies
Petco Health & Wellness Company Inc. are all members of this Cannabidiol Pet Market, Charlotte's Web, Joy Organics Llc. Pet Relief, HolistaPet. CBD Living, Fomo Bones, Wet Noses Inc., Honest Paws LLC., Canna-Pet LLC, and others.
Segmentation of the Cannabidiol Pet Market:
CBD Pet Supplements Market Segmentation is based on type. global CBD Pet Supplements can be divided into Tinctures, Powders or Gels, treats, and Tropicals. Also, the pet CBD market is possible to divide into two categories based on source type that is hemp and marijuana. The market is divided into various indications like bowel disorders and sleep diseases, cancer, epilepsy, and other disorders. You can divide the market into pet shops as well as vet hospitals and online stores based on customers.
FAQ:
- What's the CBD pet market's size?
- What is the CBD market growth for pet owners?
- Is CBD for dogs the exact same as CBD for humans?
- Can my pet take CBD?
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