CBD Pet Market Size, Share & Trends Report

CBD Pet Market Size, Share & Trends Analysis Report By Product (Therapeutic Grade, Food Grade), By Application (Joint Pain, Anxiety), By End-use, By Region (North America, Europe, APAC, Latin America, MEA), And Segment Forecasts, 2020 - 2027

  • Published Date: Aug, 2020
  • Base Year for Estimate: 2019
  • Report ID: GVR-4-68039-103-5
  • Format: Electronic (PDF)
  • Historical Data: 2016 - 2018
  • Number of Pages: 130

Report Overview

The global CBD pet market size was valued at USD 27.7 million in 2019 and is expected to grow at a compound annual growth rate (CAGR) of 40.3% from 2020 to 2027. The perceived benefits of cannabis, high awareness among pet owners, and preference for natural pet supplements have led to an upsurge in market growth. The benefits of CBD based products in fixing physical and mental issues in pets are driving the market. According to the Cannabis product news report, around 24.0% of the U.S. pet owners consume CBD based products either for themselves or for their pets. Pet CBD treatment has been found useful in treating diseases like cancer, anxiety, sleep disorders, and epilepsy. Rising incidences of anxiety disorder in pets especially dogs is another growth propelling factor for the market. According to the Clinical Ethology of the Veterinary Faculty report, around 88.0% of the treated patients showed anxiety-related disorders as of 2018.

The U.S. CBD pet market size

Moreover, the market is highly unregulated, which is favorable for new industry players. Although FDA has started initiatives to define the CBD pet products and regularize the products can be used for diagnosis and prevention of diseases in animals. For instance, in November 2019 FDA sent warning letters to 13 pet companies for violating the FD&C acts and selling CBD containing pet items. The violation includes using adulterated animal food items and unapproved new animal drugs in pet CBD products. On the other side, CBD is legal in Europe, which is fueling the growth of the market in the region.

The industry players are constantly trying to develop new products in order to sustain their market share. For instance, in March 2020 CBD Living launched 19 new products which include chews, tinctures, topical, and gels. The products will address different health and lifestyle disorders in animals such as anxiety, sleep disorder, and excessive licking behavior. The aforementioned factors are expected to propel market growth in the coming years.

Product Insights

The pet food-grade segment dominated the market and accounted for the largest market share of over 60.0% in 2019. This is due to increasing pet health spending among owners. Rising acceptability of CBD food products across the product line such as treats and chews is boosting segment growth. Moreover, increasing demand for organic food-grade among pet owners is fueling segment growth.

The therapeutic grade segment is expected to show lucrative growth over the forecast period. The growth can be attributed to the increasing popularity of CBD oils. CBD oil is highly recognized as the natural way to treat inflammation and pain. The oil does not contain Tetrahydrocannabinol (THC) so it does not affect the nervous system of pets, which is boosting the growth. Moreover, it is also used in treating inflammatory bowel disorders and arthritis.

Application Insights

The general health/wellness segment dominated the market with a revenue share of around 23.8% in 2019. The growth can be attributed to the increasing pet healthcare expenditure and growing concern among the pet owners. Moreover, the increasing portfolio of companies offering products for general health/wellness is fueling the revenue. For instance, in November 2019 Wet Noses launched CBD products for pet’s general health and wellness.

The joint pain accounted for a revenue share of around 23.6% in 2019. Increasing joint pain disorders in pets due to obesity and immobility is driving the segment. According to the American Pet Products Association (APPA), around 1 in 4 dogs in the U.S. have some form of arthritis as of 2019. Moreover, according to the Association for Pet Obesity Prevention estimates, around 56.0% of dogs and 60.0% of cats in the U.S. are obese. CBD oil is found helpful in treating joint-related problems naturally, which is fueling the market.

End-use Insights

E-commerce segment dominated the CBD pet market and accounted for a revenue share of more than 40.0% in 2019. The growth can be attributed to the easy availability of various CBD products on online portals. The prescription-related complication can be avoided using an online platform.

Global CBD pet market share

Moreover, the e-commerce channels offer products at discounted prices most of the time, thus increasing the adoption. In addition, rising penetration of smartphones and the internet providing accessibility in developed as well as developing countries are further anticipated to increase the usage of e-commerce platforms.

Regional Insights

North America dominated the market and accounted for a revenue share of over 35.0% in 2019. This growth can be attributed to the presence of key market players such as HempMy Pet, Fomo Bone, and Canna-Pet, coupled with favorable government initiatives. For instance, the Agricultural Improvement Act passed in December 2018, which legalized the hemp production in the U.S. has created ample opportunities for the growth of the market in the region. Furthermore, according to a survey conducted in 2019 by the APPA, 34.0% of the feline owners and 39.0% of the canine species owners prefer CBD infused pet products. These factors are fueling the revenue. 

Europe also held a significant share of the market in 2019 as CBD is legalized in most of the countries. Moreover, increasing pet population and growing pet expenditure in this region are boosting the growth. According to the European Pet Food Industry Report, Europeans spent around USD 21.0 billion on pets as of 2019. The increasing adoption of CBD for food-grades and therapeutic purposes is further propelling the market. In the Asia Pacific, the market is expected to exhibit lucrative growth over the forecast period owing to factors such as the growing pet population, increasing disposable income, and a highly unregulated market scenario.

Key Companies & Market Share Insights

The market is highly competitive in nature. The pet food companies such as Nestle; Mars Inc.; General Mills Inc. are also expected to enter into the market in the coming years by opting for strategies such as new product launches, acquisitions, and collaborations in order to increase their market penetration. For instance, in February 2019, Martha Stewart collaborated with Canopy Growth to launch a range of CBD infused animal health products. In February 2020, Charlotte’s Web Holdings, Inc. received approval from the U.S. Hemp Authority and National Animal Supplement Council (NASC) for its CBD supplements, tinctures, and topicals for pets. In June 2020, Charlotte’s Web acquired Abacus Health, a hemp extract-based pharmaceutical company in order to improve its product portfolio. Some of the prominent players in the CBD pet market include:

  • Honest Paws

  • Canna-Pet

  • Fomo Bones

  • Pet Relief

  • HolistaPet

  • Joy Organics

  • Wet Noses

  • CBD Living

  • Pet stock

  • Petco

  • Charlotte’s Web 

CBD Pet Market Report Scope

Report Attribute

Details

Market value in 2020

USD 37.4 million

Revenue forecast in 2027

USD 399.2 million

Growth rate

CAGR of 40.3% from 2020 to 2027

Base year for estimation

2019

Historical data

2016 - 2018

Forecast period

2020 - 2027

Quantitative units

Revenue in USD million and CAGR from 2016to 2027

Report coverage

Revenue forecast, company share, competitive landscape, growth factors and trends

Segments covered

Product, application, end-use, region

Regional scope

North America; Europe; Asia Pacific; Latin America; MEA

Country Scope

The U.S.; Canada; Germany; the U.K.; France; Italy; Spain; Japan; China; India; Brazil; Mexico; Argentina; South Africa; Saudi Arabia

Key companies profiled

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

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Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2016 to 2027. For the purpose of this study, Grand View Research has segmented the global CBD pet market report on the basis of product, application, end-use, and region:

  • Product Outlook (Revenue, USD Million, 2016 - 2027)

    • Therapeutic Grade

      • Pet Supplements

      • Pet CBD Oil

    • Food grade

      • Treats

      • Chews

      • Others

  • Application Outlook (Revenue, USD Million, 2016 - 2027)

    • Joint Pain

    • Anxiety/Stress

    • Epilepsy

    • General Health/Wellness

    • Others

  • End-use Outlook (Revenue, USD Million, 2016 - 2027)

    • Pet Specialty Stores

    • e-commerce

    • Others

  • Regional Outlook (Revenue, USD Million, 2016 - 2027)

    • North America

      • The U.S.

      • Canada

    • Europe

      • The U.K.

      • Germany

      • France

      • Italy

      • Spain

    • Asia Pacific

      • Japan

      • China

      • India

    • Latin America

      • Brazil

      • Mexico

      • Argentina

    • Middle East & Africa

      • South Africa

      • Saudi Arabia

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