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CBD Pet Products Market Size (2024 - 2029)

The CBD Pet Products market is experiencing significant growth, driven by increasing consumer awareness of natural supplements and the therapeutic benefits of cannabis. This expansion is supported by factors such as enhanced research and development initiatives, the trend of pet humanization, and rising demand and expenditure on pet care. The market's size is further influenced by the growing incidence of anxiety, sleep disorders, and gastrointestinal issues in pets, which are prompting a higher adoption of CBD products. Additionally, the introduction of new CBD-based products by various companies is contributing to the market's expansion. The use of cannabidiol for treating cancer-related and cardiac conditions in pets is also a key factor in the market's lucrative growth potential.

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Market Size of CBD Pet Products Industry

CBD Pet Products Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
CAGR 12.00 %
Fastest Growing Market Asia-Pacific
Largest Market North America
Market Concentration Low

Major Players

CBD Pet Products Market Major Players

*Disclaimer: Major Players sorted in no particular order

CBD Pet Products Market Analysis

The CBD Pet Products Market is projected to register a CAGR of 12% over the forecast period.

  • CBD pet products' growth is fuelled by the increasing consumer awareness of natural supplements and the current spotlight on the medical and therapeutic benefits of cannabis. The market is primarily driven by factors such as increasing R&D initiatives, pet humanization, increasing demand, and expenditure. The rising incidence of bowel and GIT-related problems in pets, the increase in the number of pets that suffer from anxiety and sleep disorders like in human beings, and the growing rate of such disorders in pets are propelling growth for the pet CBD pet products market in the forecast period.
  • Furthermore, several players are launching new CBD-based products in the market which is further fueling the growth of the CBD Pet Products market. For instance, in November 2022, Happy Paws launched a premier line of hemp-derived THC-free CBD pet products that enable dogs and cats to enjoy the benefits of CBD. The company has an innovative process that infuses all the good properties of CBD oil into a range of products that includes three unique Tinctures (Daily, Calming, and Hip & Joint)
  • Moreover, cannabidiol treatment is important for cancer related difficulties in pets, growing demand for CBD derivatives for the veterinary treatment market, shows the lucrative growth for the pet CBD market. In some cases, pets suffering from cardiac disorders, like heart attacks and tachycardia are treated with CBD products, which is further fueling the growth of the market.

CBD Pet Products Industry Segmentation

Cannabidiol (CBD) is a chemical in the Cannabis sativa plant, also known as cannabis or hemp. For the scope of the study, the food-grade use of CBD in pet products is limited to treats, chews, and others, while the therapeutic-grade use is limited to pet supplements, pet CBD oils, and pet personal care products. CBD Pet Products Market is Segmented by Type (Food-grade and Therapeutic-grade), Distribution Channel (Online Retail Channels, Retail Pharmacies, Veterinary Clinics, and Other Distribution Channels), and Geography (North America, Europe, Asia-Pacific, South America, and Africa). The report offers market size and forecasts in terms of value (USD million) for all the above segments.

Type
Food-grade
Therapeutic-grade
Distribution Channel
Online Retail Channel
Retail Pharmacies
Veterinary Clinics
Other Distribution Channels
Geography
North America
United States
Canada
Mexico
Rest of North America
Europe
Germany
United Kingdom
France
Spain
Rest of Europe
Asia-Pacific
China
India
Australia
Rest of Asia Pacific
South America
Brazil
Argentina
Rest of South America
Africa
South Africa
Rest of Africa
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CBD Pet Products Market Size Summary

The CBD Pet Products Market is experiencing significant growth, driven by increasing consumer awareness of natural supplements and the therapeutic benefits of cannabis. This market expansion is supported by rising research and development initiatives, pet humanization trends, and increased demand and expenditure on pet care. The prevalence of health issues in pets, such as anxiety, sleep disorders, and gastrointestinal problems, is further propelling the market. The introduction of new CBD-based products by various companies is also contributing to market growth. Additionally, the use of cannabidiol for treating cancer-related difficulties and other health issues in pets is creating lucrative opportunities within the veterinary treatment market.

Pet owners are increasingly viewing their pets as integral family members, leading to higher spending on quality food, supplements, and various pet care products, including CBD items. The growing pet ownership and the trend of treating pets with organic and natural materials are further boosting the market. North America, particularly the United States, remains the largest market for CBD pet products, with a significant share of the market attributed to the pet humanization trend. The market is characterized by a fragmented landscape with key players engaging in partnerships, product launches, and research and development activities to enhance their offerings. The acceptance of cannabidiol for pet care and wellness purposes is expected to continue driving market growth.

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CBD Pet Products Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Overview

    2. 1.2 Market Drivers

    3. 1.3 Market Restraints

    4. 1.4 Porter's Five Forces Analysis

      1. 1.4.1 Threat of New Entrants

      2. 1.4.2 Bargaining Power of Buyers

      3. 1.4.3 Bargaining Power of Suppliers

      4. 1.4.4 Threat of Substitute Products

      5. 1.4.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION

    1. 2.1 Type

      1. 2.1.1 Food-grade

      2. 2.1.2 Therapeutic-grade

    2. 2.2 Distribution Channel

      1. 2.2.1 Online Retail Channel

      2. 2.2.2 Retail Pharmacies

      3. 2.2.3 Veterinary Clinics

      4. 2.2.4 Other Distribution Channels

    3. 2.3 Geography

      1. 2.3.1 North America

        1. 2.3.1.1 United States

        2. 2.3.1.2 Canada

        3. 2.3.1.3 Mexico

        4. 2.3.1.4 Rest of North America

      2. 2.3.2 Europe

        1. 2.3.2.1 Germany

        2. 2.3.2.2 United Kingdom

        3. 2.3.2.3 France

        4. 2.3.2.4 Spain

        5. 2.3.2.5 Rest of Europe

      3. 2.3.3 Asia-Pacific

        1. 2.3.3.1 China

        2. 2.3.3.2 India

        3. 2.3.3.3 Australia

        4. 2.3.3.4 Rest of Asia Pacific

      4. 2.3.4 South America

        1. 2.3.4.1 Brazil

        2. 2.3.4.2 Argentina

        3. 2.3.4.3 Rest of South America

      5. 2.3.5 Africa

        1. 2.3.5.1 South Africa

        2. 2.3.5.2 Rest of Africa

CBD Pet Products Market Size FAQs

The CBD Pet Products Market is projected to register a CAGR of 12% during the forecast period (2024-2029)

GCH, Inc., Canna-Pet, Honest Paws, HempMy Pet and Fomo Bones are the major companies operating in the CBD Pet Products Market.

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