CBD Pet Market to Grow with a CAGR of 11.75% through 2029F
Growing Awareness and Acceptance of CBD for Pets is expected to drive
the Global CBD Pet Market growth in the forecast period, 2025-2029.
According to TechSci Research report, “CBD Pet Market – Global
Industry Size, Share, Trends, Competition Forecast & Opportunities,
2029F”, the Global CBD Pet Market stood at USD 198.78 million in 2023 and is
anticipated to grow with a CAGR of 11.75% in the forecast period through 2029. As
pet owners become more educated about alternative health and wellness
solutions, they are increasingly turning to CBD products to address various
ailments afflicting their furry companions. This shift in consumer perception
has been further bolstered by a growing body of scientific research supporting
the efficacy of CBD in managing conditions such as anxiety, pain, inflammation,
seizures, and skin disorders in pets.
The expanding legalization of cannabis for both medicinal and
recreational purposes in various jurisdictions worldwide has played a
significant role in fueling the growth of the CBD pet market. As cannabis
regulations become more lenient, the stigma surrounding CBD diminishes, making
it increasingly accessible to pet owners seeking alternative health solutions
for their pets. This regulatory shift has paved the way for the development and
commercialization of a diverse array of CBD pet products, driving market
expansion and innovation.
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in-depth TOC on "Global CBD Pet Market”
The Global CBD Pet Market is segmented into animal type, indication, distribution
channel, regional distribution, and company.
Based on the indication, joint pain segment emerged as the dominant
segment in the global CBD pet market in 2023. As pet owners increasingly
prioritize their pets' health and well-being, there is a growing demand for
effective solutions to manage joint pain and improve mobility. CBD has garnered
attention for its potential anti-inflammatory and analgesic properties, which
can help alleviate joint pain and discomfort in pets. Studies have shown that
CBD may reduce inflammation, relieve pain, and improve mobility in animals
suffering from arthritis and other joint-related conditions. As pet owners
become more aware of CBD's therapeutic benefits, they are turning to CBD pet
products as a natural alternative to traditional pharmaceuticals for managing
joint pain in their furry companions. The availability of a wide range of CBD
pet products specifically formulated to target joint pain further contributes
to the dominance of this segment in the CBD pet market. From CBD-infused treats
and chews to oils and topical creams, pet owners have access to various CBD
formulations designed to support joint health and alleviate pain in their pets.
The effectiveness and versatility of these products make them increasingly
popular among pet owners seeking safe and holistic solutions for managing their
pets' joint pain.
In the forecast period, the
segment anticipated to experience the fastest growth is Anxiety/Stress. As
societal awareness and acceptance of mental health issues expand, there's a
burgeoning demand for natural remedies and holistic approaches to manage anxiety
and stress. With increasing stressors in modern lifestyles, people are actively
seeking alternative solutions beyond conventional pharmaceuticals. This trend
is driving a surge in the market for CBD products tailored to alleviate anxiety
and stress, ranging from oils and tinctures to edibles and topical
applications. Ongoing research and favorable regulatory shifts are further
propelling the growth of this segment, making it a focal point for both
consumers and industry players aiming to address mental well-being in a
holistic manner.
Based on the distribution channel, e-commerce segment emerged as the
dominant segment in the global CBD pet market in 2023. e-commerce platforms
provide pet owners with unparalleled convenience and flexibility when
purchasing CBD pet products. With just a few clicks, pet owners can browse
through a wide variety of CBD pet products, compare prices and features, read
customer reviews, and make purchases from the comfort of their homes or on the
go. This convenience factor appeals to busy pet owners who may not have the
time to visit brick-and-mortar stores or prefer the ease of online shopping.
e-commerce platforms offer a diverse selection of CBD pet products from various
brands and manufacturers, allowing pet owners to explore different options and
find the products that best suit their pets' needs.
North America emerged as the dominant player in the global CBD pet
market in 2023 in 2023, holding the largest market share. North America
boasts a large population of pet owners who are increasingly invested in the
health and well-being of their furry companions. The region's high pet
ownership rates, combined with growing consumer awareness of CBD's potential
benefits for pets, have contributed to the strong demand for CBD pet products
in North America. Pet owners in the region are seeking natural and holistic
solutions to address their pets' health issues, driving the adoption of CBD pet
products as part of their pets' wellness routines.
Major companies operating in Global CBD Pet Market are:
·
Honest Paws
·
Canna-Pet
·
FOMO Bones
·
Pet Releaf
·
HolistaPet
·
Joy Organics
·
Wet Noses Inc.
·
CBD Living
·
Petstock Pty Ltd
·
Petco Animal Supplies, Inc.
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“The Global CBD Pet Market is poised for significant growth in the
coming years. Increasing consumer awareness and acceptance of CBD for pets
contribute to growing demand for natural and holistic pet care solutions. The
legalization of cannabis in various regions around the world is expected to
further normalize CBD usage and stimulate market growth. The expansion of
product offerings and formulations tailored specifically for pets is likely to
attract more consumers seeking effective solutions for their pets' health and
wellness needs. Furthermore, the growing availability of CBD pet products
through multiple distribution channels, including e-commerce platforms and
brick-and-mortar stores, enhances accessibility and convenience for pet
owners”, said Mr. Karan Chechi, Research Director of TechSci Research, a
research-based management consulting firm.
“CBD Pet Market - Global Industry Size, Share, Trends, Opportunity and Forecast, Segmented By Animal Type (Dogs, Cats, Others), By Indication (Joint Pain, Anxiety/Stress, Epilepsy, General Health/Wellness, Other Indications), By Distribution Channel (Pet Specialty Stores, E-Commerce, CBD Stores, Others), By Region and Competition, 2019-2029F”, has evaluated the future
growth potential of Global CBD Pet Market and provides statistics &
information on market size, structure and future market growth. The report
intends to provide cutting-edge market intelligence and help decision makers take
sound investment decisions. Besides, the report also identifies and analyzes
the emerging trends along with essential drivers, challenges, and opportunities
in Global CBD Pet Market.
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