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Market Overview

CBD pet market is largely accelerated by a rising market understanding of natural supplements and the increased emphasis on the medicinal and therapeutic benefits of cannabis. The competitive nature of the existing market is due to the regulatory environments of government and trade applicable to cannabis, CBD, and hemp. However, the Farm Bill passed in December 2018, the Agricultural Improvement Act of 2018, took a big step forward by separating hemp and hemp-derived CBD from marijuana-based products, creating significant potential for hemp-derived products to be used in the pet industry.

CBD-Pet-Market

The CBD pet market is expected to grow with a CAGR of 41% during the forecast period.

Sales-of-CBD-Products-for-Pets

Source: Nielsen Global Connect

Changing Consumer Preferences towards Organic Health Care Pet Products

Shifting market preferences in organic food, nutrition, and health supplements have moved to the pet food industry, resulting in the growing acceptance of CBD supplements in the pet food industry. A study conducted by the American Pet Products Association in 2017 indicates that almost 39% of dog owners and 34% of cat owners are likely to favor CBD-based products to their pets due to the legalization of cannabis. In comparison, currently, almost 11% of dog owners and 8% of cat owners use CBD supplements or treatments for their pets.

Preference-Towards-CBD-Supplement-in-2015-2019

Source: American Animal Pet Food Association Survey

Rising Number of Companies Operating in CBD Pet to Drive the Market

Significant growth potential for pet CBD products has led to an exponential increase in the number of brands over the course of 2019, as leading CBD companies, such as cbdMD, Charlotte's Site, and Medterra, are growing beyond their human CBD offerings to reach the Pet CBD space. In turn, competition from new brands leads to dilution of shares for market leaders, such as Pet Releaf, Treatibles, and Canna-Pet, despite a real rise in sales over the year. In the medium term, leading pet food players such as Mars and Nestlé are also expected to join the fray, posing a looming challenge to current market leaders due to their well-established supply chains, wide retail distribution, and high brand recognition.

Pet owners' trust in Pet CBD products is predicted to increase as more scientific research on the health benefits of CBD for pets becomes available and transparent, and consistent policy is put in place to enable veterinarians to evaluate and recommend CBD products. Moreover, the competition is highly unregulated, which is beneficial to new entrants in the industry.

While the FDA has started initiatives to identify CBD pet products and to regularize products, they can be used to diagnose and prevent diseases in animals. For instance, in November 2019, FDA sent warning letters to 13 pet companies for violating FD&C and selling CBDs containing pet products. The infringement requires the use of adulterated animal food goods and illegal new animal medications in pet CBD products. On the other hand, CBD is legal in Europe, which is fueling the growth of the market in the region.

CBD Pet Market: Segmentation

Surging Acceptability of CBD Food Products to Drive the Segment Growth 

The pet food-grade segment flourished as well as accounted for the highest market share in 2019 on account of the increased expenditure on pet health by owners. The surging acceptability of CBD food products across the product line, such as treats and chews, is fostering segment growth. Companies such as Better Choice under its Bona Vida brand provides a suite of CBD pet-focused products in the form of oils and soft chews with many formulations intended to support the health and well-being of pets. Bona Vida has formulations that explicitly target the animal's relief & heart support, muscle & joint, as well as skin & body.

In addition, the growing demand for organic food among pet owners is boosting the growth of the segment. Furthermore, increasing expenditure on pet nutrition is contributing massively to the segmental growth. As per the 2019–2020 APPA National Pet Owners Survey, some of the basic annual expenses for dog and cat owners in USD include:

Categories

Dogs

Cats

Surgical Vet Visits

426

214

Routine Vet

212

160

Food

259

228

Food Treats

76

58

Kennel Boarding

229

120

Vitamins

58

54

Groomer/Grooming Aids

73

43

Toys

48

31

Source: 2019-2020 APPA National Pet Owners Survey

Regional Overview

North-America-Lead-CBD-Pet-Market

The U.S. to Account for More than Half of the Share in North America's CBD Pet Market

North America is predominantly the largest market, largely due to the pet humanization trend. The U.S. is the biggest market for CBD pet products, accounting for more than half of the market share. Increasing expenditure and investments on pet care is supporting regional market growth. For instance, in 2019, USD 95.7 billion was spent on pets in the U.S., as per the data published by the American Pets Product Association. HempMy Pet, Canna-Pet, Fomo Bones, Wet Noses, Honest Paws, Green Roads of Florida, Joy Organics, Holista Pet, and Pet Relief are primary emerging brands on the U.S. market for CBD-based pet products. In addition, Nestle Purina is considering producing CBD dog food, while small pet CBD brands are likely to be taken over by companies such as Mars Inc., Nestlé, General Mills Inc., and J.M. Smucker Co. & Canopy Growth Corp.

Estimented-2020-Sales-within-US-Market

Source: American Pet Products Association, Inc.

Legalization of CBD to Drive Europe’s Market Growth

Europe held the largest market share in 2019, as CBD is legalized in most countries in the region. In addition, the rise in the pet population and the increase in pet spending adds fuel to market growth. Cats are still the most common pets in European households, with a healthy population of 74.4 million in the EU and 102.7 million in Europe and Russia. Dogs are also increasing in popularity with 66.4 million dogs in the EU (84.9 million in Europe and Russia) in 2017, compared to 63.7 million (82.2 million) in 2016.

On an annual basis, FEDIAF reviews member association data on market and population trends. Europeans spent about USD 21.0 billion on pets as of 2019, according to the European Pet Food Industry Survey. The growing acceptance of CBD for food grades and therapeutic purposes is further propelling the regional market expansion. The below stats are prominent proof of the significance Europeans attach to their pets. Below mentioned are highlights from the 'Facts and Figures 2019' report:

  • An assessed 85 million European households own at least one pet animal
  • Yearly turnover of pet food products: USD 24.44 billion
  • Annual sales of pet food products: 8.5 billion tones
  • Annual growth rate of the pet food business: 2.6%
  • Pet-related services and products valued at USD 22.92 billion

Key Players

  • Canna-Pet
  • CBD Living
  • Charlotte's Web
  • Fomo Bones
  • HolistaPet
  • Honest Paws
  • Joy Organics
  • Pet Relief
  • Pet stock
  • Petco
  • RestoraPet
  • Wet Noses

Recent Developments

  • In May 2020, Mary's Tails, a brand of hemp CBD-infused pet tinctures, balms, and gels, announced that its products are introduced to PetSmart stores in selected regions of the U.S., such as Colorado, Oregon, Indiana, Kentucky, and Tennessee
  • Choom, an emerging medical cannabis company that has secured one of Canada's largest national retail networks, announced to sign a Memorandum of Understanding (MOU) with Better Choice Company, Inc. for exclusive Canadian distribution rights to Better Choice's Cannabidiol (CBD) Bona Vida brand of products for animal health and wellness

CBD Pet Market: Segmentation

By Product

  • Therapeutic Grade
    • Pet Supplements
    • Pet CBD Oil
  • Food grade
    • Treats
    • Chews

By Application

  • Joint Pain
  • Anxiety/Stress
  • Epilepsy
  • General Health/Wellness

By End-User

  • Veterinary Hospital Pharmacies
  • Pet shops
  • E-commerce

By Region

North America

  • The U.S.
  • Canada
  • Mexico

Europe

  • Germany
  • The U.K.
  • France
  • Italy
  • Spain
  • Russia
  • The Rest of Europe

Asia-Pacific

  • China
  • Japan
  • India
  • Korea
  • Australia
  • Southeast Asia
  • The Rest of Asia-Pacific

Central and South America and the Caribbean

  • Brazil
  • Argentina
  • Chile
  • The Rest of Central and South America and the Caribbean

The Middle East and Africa

  • South Africa
  • Egypt
  • The UAE
  • Saudi Arabia
  • The Rest of MEA

Frequently Asked Questions (FAQs)

The growing acceptance of CBD supplements in the pet food industry, rising number of companies operating in CBD pet, increasing expenditure on pet nutrition are the key factors expected to drive CBD Pet Market during the forecast period.
The CBD pet market is expected to grow with a CAGR of 41% during the forecast period.
Canna-Pet, CBD Living, Charlotte's Web, Fomo Bones, HolistaPet, Honest Paws, Joy Organics, Pet Relief, Pet stock, Petco, RestoraPet, Wet Noses are the top players in CBD Pet Market.
North America is expected to hold the highest market share in CBD Pet Market.
Pet Food-Grade Segment is expected to be a leading segment in CBD Pet Market during the forecast period.
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