CBD Pet Market Size, Share, Growth, Trends | Report 2023-2032
The global CBD pet market was surpassed at USD 196.02 million in 2022 and is expected to hit around USD 3,110.09 million by 2032, growing at a CAGR of 31.84% from 2023 to 2032.
Key Pointers
| Report Coverage | Details |
| Market Size in 2022 | USD 196.02 million |
| Revenue Forecast by 2032 | USD 3,110.09 million |
| Growth rate from 2023 to 2032 | CAGR of 31.84% |
| Base Year | 2022 |
| Forecast Period | 2023 to 2032 |
| Regions Covered | North America, Europe, Asia Pacific, Latin America, Middle East & Africa |
| Companies Covered | Honest Paws; Canna-Pet; FOMO Bones; Pet Releaf; HolistaPet; Joy Organics; Wet Noses Natural Dog Treat Co.; CBD Living; PETstock; Petco Animal Supplies, Inc.; Charlotte’s Web; Green Roads; HempMy Pet |
The market is primarily driven by factors such as rising R&D initiatives, increasing demand, pet humanization, and expenditure. The complexity and uncertainty around regulations, however, is a key restraining factor for the cannabidiol (CBD) pet market. Many CBD companies are thus pursuing certification from veterinary organizations or trusted animal-welfare groups [such as the National Animal Supplement Council (NASC)] to help differentiate their products and assure customers of product quality. In October 2019, Medterra CBD’s line of CBD pet products including tinctures and pet chews gained the NASC approval.
The COVID-19 pandemic had an overall neutral impact on the CBD pet market due to the presence of both positive and negative factors. Restraining factors included supply chain hurdles, operational challenges, complexities in regulations, and a decline in CBD prices. As per an independent survey by LeafReport, CBD prices decreased by 17% in 2020 except for pet edibles, which registered a 44% increase in prices. This was due to the entry of more hemp suppliers in the market since the implementation of the farm bill in 2018.
The positive impact included an increase in demand for CBD pet products owing to rising pet health concerns and pet expenditure. As per the chief marketing officer at cbdMD, Matt Coapman, and Paw CBD, the COVID-19 pandemic propelled CBD sales as people stayed at home and were more attuned to their pet’s health. After the COVID-19 pandemic, as pet parents started to go back to their offices, CBD products gained demand as a means to alleviate any separation issues the pets may have. Anxiety issues (separation, noise aversion, etc.), comfort support, and mobility are the most common reasons pet owners opt for CBD.
CBD or cannabidiol is a plant-based chemical that has a proven therapeutic value for animal companions. Its benefits include pain relief & seizure control. Its anti-inflammatory actions have also been studied. This non-psychoactive compound appears to be safe for use in pets such as dogs and cats. As CBD gains more attention among pet owners, CBD-derived products become more diverse in forms such as treats, foods, oils, topicals, and tinctures. Owing to rising awareness, pet owners are increasingly using CBD for their cats, dogs, and other pets. For instance, according to a survey conducted by Leafreport in 2021, 50% of the respondent pet owners in the U.S., reported using CBD for their pets. Such factors are expected to fuel market growth.
CBD Pet Market Segmentations:
| By Animal Type | By Indication | By Distribution Channel |
|
Dogs Cats Others |
Joint Pain Anxiety/Stress Epilepsy General Health/Wellness Other Indications |
Pet Specialty Stores E-commerce CBD Stores Others |
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. COVID 19 Impact on CBD Pet Market
5.1. COVID-19 Landscape: CBD Pet Industry Impact
5.2. COVID 19 - Impact Assessment for the Industry
5.3. COVID 19 Impact: Global Major Government Policy
5.4. Market Trends and Opportunities in the COVID-19 Landscape
Chapter 6. Market Dynamics Analysis and Trends
6.1. Market Dynamics
6.1.1. Market Drivers
6.1.2. Market Restraints
6.1.3. Market Opportunities
6.2. Porter’s Five Forces Analysis
6.2.1. Bargaining power of suppliers
6.2.2. Bargaining power of buyers
6.2.3. Threat of substitute
6.2.4. Threat of new entrants
6.2.5. Degree of competition
Chapter 7. Competitive Landscape
7.1.1. Company Market Share/Positioning Analysis
7.1.2. Key Strategies Adopted by Players
7.1.3. Vendor Landscape
7.1.3.1. List of Suppliers
7.1.3.2. List of Buyers
Chapter 8. Global CBD Pet Market, By Animal Type
8.1. CBD Pet Market, by Animal Type, 2023-2032
8.1.1 Dogs
8.1.1.1. Market Revenue and Forecast (2019-2032)
8.1.2. Cats
8.1.2.1. Market Revenue and Forecast (2019-2032)
8.1.3. Others
8.1.3.1. Market Revenue and Forecast (2019-2032)
Chapter 9. Global CBD Pet Market, By Indication
9.1. CBD Pet Market, by Indication, 2023-2032
9.1.1. Joint Pain
9.1.1.1. Market Revenue and Forecast (2019-2032)
9.1.2. Anxiety/Stress
9.1.2.1. Market Revenue and Forecast (2019-2032)
9.1.3. Epilepsy
9.1.3.1. Market Revenue and Forecast (2019-2032)
9.1.4. General Health/Wellness
9.1.4.1. Market Revenue and Forecast (2019-2032)
9.1.5. Other Indications
9.1.5.1. Market Revenue and Forecast (2019-2032)
Chapter 10. Global CBD Pet Market, By Distribution Channel
10.1. CBD Pet Market, by Distribution Channel, 2023-2032
10.1.1. Pet Specialty Stores
10.1.1.1. Market Revenue and Forecast (2019-2032)
10.1.2. E-commerce
10.1.2.1. Market Revenue and Forecast (2019-2032)
10.1.3. CBD Stores
10.1.3.1. Market Revenue and Forecast (2019-2032)
10.1.4. Others
10.1.4.1. Market Revenue and Forecast (2019-2032)
Chapter 11. Global CBD Pet Market, Regional Estimates and Trend Forecast
11.1. North America
11.1.1. Market Revenue and Forecast, by Animal Type (2019-2032)
11.1.2. Market Revenue and Forecast, by Indication (2019-2032)
11.1.3. Market Revenue and Forecast, by Distribution Channel (2019-2032)
11.1.4. U.S.
11.1.4.1. Market Revenue and Forecast, by Animal Type (2019-2032)
11.1.4.2. Market Revenue and Forecast, by Indication (2019-2032)
11.1.4.3. Market Revenue and Forecast, by Distribution Channel (2019-2032)
11.1.5. Rest of North America
11.1.5.1. Market Revenue and Forecast, by Animal Type (2019-2032)
11.1.5.2. Market Revenue and Forecast, by Indication (2019-2032)
11.1.5.3. Market Revenue and Forecast, by Distribution Channel (2019-2032)
11.2. Europe
11.2.1. Market Revenue and Forecast, by Animal Type (2019-2032)
11.2.2. Market Revenue and Forecast, by Indication (2019-2032)
11.2.3. Market Revenue and Forecast, by Distribution Channel (2019-2032)
11.2.4. UK
11.2.4.1. Market Revenue and Forecast, by Animal Type (2019-2032)
11.2.4.2. Market Revenue and Forecast, by Indication (2019-2032)
11.2.4.3. Market Revenue and Forecast, by Distribution Channel (2019-2032)
11.2.5. Germany
11.2.5.1. Market Revenue and Forecast, by Animal Type (2019-2032)
11.2.5.2. Market Revenue and Forecast, by Indication (2019-2032)
11.2.5.3. Market Revenue and Forecast, by Distribution Channel (2019-2032)
11.2.6. France
11.2.6.1. Market Revenue and Forecast, by Animal Type (2019-2032)
11.2.6.2. Market Revenue and Forecast, by Indication (2019-2032)
11.2.6.3. Market Revenue and Forecast, by Distribution Channel (2019-2032)
11.2.7. Rest of Europe
11.2.7.1. Market Revenue and Forecast, by Animal Type (2019-2032)
11.2.7.2. Market Revenue and Forecast, by Indication (2019-2032)
11.2.7.3. Market Revenue and Forecast, by Distribution Channel (2019-2032)
11.3. APAC
11.3.1. Market Revenue and Forecast, by Animal Type (2019-2032)
11.3.2. Market Revenue and Forecast, by Indication (2019-2032)
11.3.3. Market Revenue and Forecast, by Distribution Channel (2019-2032)
11.3.4. India
11.3.4.1. Market Revenue and Forecast, by Animal Type (2019-2032)
11.3.4.2. Market Revenue and Forecast, by Indication (2019-2032)
11.3.4.3. Market Revenue and Forecast, by Distribution Channel (2019-2032)
11.3.5. China
11.3.5.1. Market Revenue and Forecast, by Animal Type (2019-2032)
11.3.5.2. Market Revenue and Forecast, by Indication (2019-2032)
11.3.5.3. Market Revenue and Forecast, by Distribution Channel (2019-2032)
11.3.6. Japan
11.3.6.1. Market Revenue and Forecast, by Animal Type (2019-2032)
11.3.6.2. Market Revenue and Forecast, by Indication (2019-2032)
11.3.6.3. Market Revenue and Forecast, by Distribution Channel (2019-2032)
11.3.7. Rest of APAC
11.3.7.1. Market Revenue and Forecast, by Animal Type (2019-2032)
11.3.7.2. Market Revenue and Forecast, by Indication (2019-2032)
11.3.7.3. Market Revenue and Forecast, by Distribution Channel (2019-2032)
11.4. MEA
11.4.1. Market Revenue and Forecast, by Animal Type (2019-2032)
11.4.2. Market Revenue and Forecast, by Indication (2019-2032)
11.4.3. Market Revenue and Forecast, by Distribution Channel (2019-2032)
11.4.4. GCC
11.4.4.1. Market Revenue and Forecast, by Animal Type (2019-2032)
11.4.4.2. Market Revenue and Forecast, by Indication (2019-2032)
11.4.4.3. Market Revenue and Forecast, by Distribution Channel (2019-2032)
11.4.5. North Africa
11.4.5.1. Market Revenue and Forecast, by Animal Type (2019-2032)
11.4.5.2. Market Revenue and Forecast, by Indication (2019-2032)
11.4.5.3. Market Revenue and Forecast, by Distribution Channel (2019-2032)
11.4.6. South Africa
11.4.6.1. Market Revenue and Forecast, by Animal Type (2019-2032)
11.4.6.2. Market Revenue and Forecast, by Indication (2019-2032)
11.4.6.3. Market Revenue and Forecast, by Distribution Channel (2019-2032)
11.4.7. Rest of MEA
11.4.7.1. Market Revenue and Forecast, by Animal Type (2019-2032)
11.4.7.2. Market Revenue and Forecast, by Indication (2019-2032)
11.4.7.3. Market Revenue and Forecast, by Distribution Channel (2019-2032)
11.5. Latin America
11.5.1. Market Revenue and Forecast, by Animal Type (2019-2032)
11.5.2. Market Revenue and Forecast, by Indication (2019-2032)
11.5.3. Market Revenue and Forecast, by Distribution Channel (2019-2032)
11.5.4. Brazil
11.5.4.1. Market Revenue and Forecast, by Animal Type (2019-2032)
11.5.4.2. Market Revenue and Forecast, by Indication (2019-2032)
11.5.4.3. Market Revenue and Forecast, by Distribution Channel (2019-2032)
11.5.5. Rest of LATAM
11.5.5.1. Market Revenue and Forecast, by Animal Type (2019-2032)
11.5.5.2. Market Revenue and Forecast, by Indication (2019-2032)
11.5.5.3. Market Revenue and Forecast, by Distribution Channel (2019-2032)
Chapter 12. Company Profiles
12.1. Honest Paws
12.1.1. Company Overview
12.1.2. Product Offerings
12.1.3. Financial Performance
12.1.4. Recent Initiatives
12.2. Canna-Pet
12.2.1. Company Overview
12.2.2. Product Offerings
12.2.3. Financial Performance
12.2.4. Recent Initiatives
12.3. FOMO Bones
12.3.1. Company Overview
12.3.2. Product Offerings
12.3.3. Financial Performance
12.3.4. Recent Initiatives
12.4. Pet Releaf
12.4.1. Company Overview
12.4.2. Product Offerings
12.4.3. Financial Performance
12.4.4. Recent Initiatives
12.5. HolistaPet
12.5.1. Company Overview
12.5.2. Product Offerings
12.5.3. Financial Performance
12.5.4. Recent Initiatives
12.6. Joy Organics
12.6.1. Company Overview
12.6.2. Product Offerings
12.6.3. Financial Performance
12.6.4. Recent Initiatives
12.7. Wet Noses Natural Dog Treat Co.
12.7.1. Company Overview
12.7.2. Product Offerings
12.7.3. Financial Performance
12.7.4. Recent Initiatives
12.8. CBD Living
12.8.1. Company Overview
12.8.2. Product Offerings
12.8.3. Financial Performance
12.8.4. Recent Initiatives
12.9. PETstock
12.9.1. Company Overview
12.9.2. Product Offerings
12.9.3. Financial Performance
12.9.4. Recent Initiatives
12.10. Petco Animal Supplies, Inc.
12.10.1. Company Overview
12.10.2. Product Offerings
12.10.3. Financial Performance
12.10.4. Recent Initiatives
Chapter 13. Research Methodology
13.1. Primary Research
13.2. Secondary Research
13.3. Assumptions
Chapter 14. Appendix
14.1. About Us
14.2. Glossary of Terms
Cross-segment Market Size and Analysis for
Mentioned Segments
Additional Company Profiles (Upto 5 With No Cost)
Additional Countries (Apart From Mentioned Countries)
Country/Region-specific Report
Go To Market Strategy
Region Specific Market DynamicsRegion Level Market Share Import Export AnalysisProduction AnalysisOthers