The CBD Pet Market Size is valued at 411.44 Million in 2022 and is predicted to reach 17544.73 Million by the year 2031 at a 52.17% CAGR during the forecast period for 2023-2031.
Hemp derivative products such as CBD Pet Supplements have become a huge market for pet owners as pet owners turn to the alternative option of non-traditional therapeutics. Cannabidiol is the main compound found in a hemp plant used because of its medicinal properties. There is an increase in demand for CBD among the population to control a range of conditions such as nausea, anxiety, stress, etc.
Increasing consumer awareness about the natural supplements with the therapeutic benefits of cannabis is driving the market's growth. Additionally, rising government support and favorable trade regulatory environments related to CBD, cannabis, and hemp fuel the market growth. For instance, the Farm Bill passed in December 2018 at United States Congress for the Agricultural Improvement Act of 2018 to separate hemp and hemp-derived CBD from marijuana-based products, expected to create ample opportunities for hemp-derived products, including CBD used in the pet food industry.
Market segmentation
The Global CBD pet market is segmented on the basis of product, application, end-users, and region. Based on the product, the market is divided into Therapeutic Grade and Food Grade. On the basis of application, the market is divided into Joint Pain, Anxiety/Stress, Epilepsy, and General Health/Wellness. On the basis of end-users, the market is divided into Pet specialty stores and e-commerce. Based on region, the market is studied across North America, Asia-Pacific, Europe, and LAMEA. Among that, Europe held the largest share of the market, followed by America and the Asia Pacific. On the other hand, North America is expected to dominate the market during the analysis of the forecast period.
Competitive Landscape
Some Major Key Players In The CBD Pet Market:
- Honest Paws,
- Canna-Pet,
- Fomo Bones,
- Pet,
- Relief,
- HolistaPet,
- Joy Organics,
- Wet Noses,
- CBD Living,
- Pet stock,
- Petco,
- Charlotte’s Web,
- among others.
CBD Pet Market Report Scope
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Report Attribute |
Specifications |
|
Market Size Value In 2022 |
USD 411.44 Million |
|
Revenue Forecast In 2031 |
USD 17544.73 Million |
|
Growth Rate CAGR |
CAGR of 52.17 % from 2023 to 2031 |
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Quantitative Units |
Representation of revenue in US$ Million and CAGR from 2023 to 2031 |
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Historic Year |
2019 to 2022 |
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Forecast Year |
2023-2031 |
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Report Coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
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Segments Covered |
By Product, By End-User, By Application |
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Regional Scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
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Country Scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico ;The UK; France; Italy; Spain; China; Japan; India; South Korea; South East Asia; South Korea; South East Asia |
|
Competitive Landscape |
Honest Paws, Canna-Pet, Fomo Bones, Pet, Relief, HolistaPet, Joy Organics, Wet Noses, CBD Living, Pet stock, Petco, Charlotte’s Web, among others. |
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Customization Scope |
Free customization report with the procurement of the report, Modifications to the regional and segment scope. Particular Geographic competitive landscape. |
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Pricing And Available Payment Methods |
Explore pricing alternatives that are customized to your particular study requirements. |
