CBD Pet Market - Forecast(2021 - 2026)

Report Code: HCR 1382 Report Format: PDF + Excel (Delivery in 48 Hrs)

CBD Pet Market Overview

CBD Pet Market size is estimated to reach $285.6 million by 2026, growing at a CAGR of 40.6% during the forecast period 2021-2026. Cannabidiol (CBD) is the second most prevalent of the active ingredients of marijuana. CBD pet products are increasingly being adopted across the world owing to the rise in health consciousness among pet owners and the growing number of diseases in pets. The rise in the adoption of medium chain triglycerides oil in CBT products for wellness, increase in the demand for CBD products for treating deficiencies in the endocannabinoid system, rise in the demand for tetrahydrocannabinol drugs in the form of treats, and the growing investment by the key players to develop healthier CBD products are the factors that are set to drive the growth of the CBD Pet Market for the period 2021-2026.

Report Coverage

The report: “CBD Pet Market Forecast (2021-2026)”, by Industry ARC, covers an in-depth analysis of the following segments of the CBD Pet Market.

By Product Type: Oil Tincture, Capsules, Treats, Topical, and Others.
By Application: Epilepsy, Joint Pain, General Health & Wellness, Anxiety/Stress, and Others.
By End User: Retail Pharmacies, Online Channels, Veterinary Clinics, and Others.
By Geography: North America (U.S., Canada, and Mexico), Europe (Germany, UK, France, Italy, Spain, Russia, and Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Australia & New Zealand, and Rest of Asia-Pacific), South America (Brazil, Argentina, and Rest of South America) and Rest of World (Middle East and Africa).

    Key Takeaways

      • Geographically, the North America CBD Pet Market accounted for the highest revenue share in 2020 and it is poised to dominate over the period 2021-2026 owing to the rise in the adoption of medium chain triglycerides oil in CBT products for wellness.
      • The increase in the demand for CBD products for treating deficiencies in the endocannabinoid system is driving the Treats segment. However, High doses of CBB adversely affect the liver and results in elevated enzymes, such as alkaline phosphatase, which is one of the major factors that are said to reduce the growth of the CBD Pet Market.
      • Detailed analysis on the Strength, Weakness, and Opportunities of the prominent players operating in the market will be provided in the CBD Pet Market report.

        CBD Pet Market Size, By Product Type, 2020-2026 (USD Million)

          CBD Pet Market Size, By Product Type, 2020-2026 (USD Million)

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      CBD Pet Market Segment Analysis - By Product Type

      The CBD Pet Market based on the Product Type can be further segmented into Oil Tincture, Capsules, Treats, Topical, and Others. The Treats segment held the largest share owing to the factors such as the rise in the demand for tetrahydrocannabinol drugs in the form of treats and the increase in the adoption of CBD for treating deficiencies in the endocannabinoid system. The growing demand for CBD among pet owners in developed nations is driving the growth of the CBD Pet Market. The Oil Tincture segment is estimated to be the fastest-growing segment with a CAGR of 41.2% over the period 2021-2026. This growth is owing to the factors such as the growing adoption of medium chain triglycerides oil in CBT products and the increase in awareness about the benefits of oil tincture.

      CBD Pet Market Segment Analysis - By Application

      The CBD Pet Market based on the Application can be further segmented into Epilepsy, Joint Pain, General Health & Wellness, Anxiety/Stress, and Others. The General Health & Wellness segment held the largest share in 2020 owing to the factors such as the rise in the pet healthcare expenditure owing to the growing concern among pet owners and the increase in the adoption of medium chain triglycerides oil in CBT products for wellness. The growing demand for advanced CBT products for health and wellness is driving the growth of the CBD Pet Market. The Joint Pain segment is estimated to be the fastest-growing segment with a CAGR of 41.4% over the period 2021-2026. This growth is owing to the factors such as the growing demand for tetrahydrocannabinol drugs for treating joint pains and the rise in research and development activities for developing specific CBT products for treating joint pains.

      CBD Pet Market Segment Analysis - By Geography

      North America held the largest share with 30% of the overall market in 2020. The growth in this segment is owing to the factors such as the increase in the adoption of medium chain triglycerides oil in CBT products for wellness and the increase in product launches by the key players. The rise in the demand for tetrahydrocannabinol drugs for treating joint pains is driving the growth of the CBD Pet Market. Asia-Pacific segment is estimated to be the fastest-growing segment over the period 2021-2026. The growth in this segment is owing to the factors such as the increase in the demand for CBD products for treating deficiencies in the endocannabinoid system, the rise in the adoption of tetrahydrocannabinol drugs in the form of treats, and the growing investment by the key players to develop advanced CBD pet products.

      CBD Pet Market Drivers

      Increase in the Adoption of Tetrahydrocannabinol Drugs

      Tetrahydrocannabinol Drugs and CBD products are extensively being adopted for pets owing to the growing awareness about their potential in treating various diseases, such as chronic pain, arthritis, and sleep disorders. The key players across the world are focusing on developing Tetrahydrocannabinol drugs and CBD products for treating joint pains, which is one of the major factors driving the growth of the CBD Pet Market.

      Rise in CBB Research and Development Activities for Pets

      The rise in health consciousness among pet owners owing to the growing number of diseases in pets has propelled the demand for healthier products for pets. Moreover, manufacturers are launching medium chain triglycerides oil for CBT products, which is further propelling the growth of the CBD Pet Market.

      CBD Pet Market Challenges

      Side Effects owing to High Dosage

      The key players in the market are increasing their investment to carry out various research and development activities for developing CBD that treats deficiencies in the endocannabinoid system. However, High doses of CBB adversely affect the liver and results in elevated enzymes, such as alkaline phosphatase, which is one of the major factors that is estimated to reduce the growth of the CBD Pet Market.

      CBD Pet Market Competitive Landscape:

      Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in the CBD Pet Market. Key companies of this market are Veritas Farms, Canopy Growth Corporation, Honest Paws, Joy Organics, CBD Living, HolistaPet, PETstock, FOMO Bones, Pet Releaf, and Petco among others.

      Partnerships/Product Launches:

      • In July 2020, Canopy Growth Corporation has launched SurityPro™ backed CBD products for supporting joint health and flexibility, calm behavior, healthy aging, and overall physical well-being in dogs.
      • In January 2020, Veritas Farms has launched CBD supplements that are designed specifically for the pet industry. These CBD supplements are made with organic ingredients to attract pet owners who are looking for organic products.
      • In December 2019, Honest Paws has entered into a partnership with American Manufacturing and Distribution Company to enhance their CBD pet through their B2B and direct-to-consumer partnerships.

      Relevant Links:

      Hemp CBD Market - Forecast (2021 - 2026)
      Report Code: HCR 1418

      Industrial Hemp Market - Industry Analysis, Market Size, Share, Trends, Application Analysis, Growth And Forecast 2021 - 2026
      Report Code: CMR 45256

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      1. CBD Pet Market - Overview
          1.1 Definitions and Scope
      2. CBD Pet Market - Executive Summary
          2.1 Market Revenue and Key Trends by Company
          2.2 Key trends by Product Type
          2.3 Key trends by Application
          2.4 Key trends by Geography
      3. CBD Pet Market – Comparative Analysis
          3.1 Product Benchmarking – Key Companies
          3.2 Financial Analysis – Key Companies
          3.3 Market Value Split by Key Companies
          3.4 Patent Analysis – Key Companies
          3.5 Pricing Analysis
      4. CBD Pet Market - Startup Companies Scenario Premium
          4.1 Key Startup Company Analysis by
              4.1.1 Investment
              4.1.2 Revenue
              4.1.3 Venture Capital and Funding Scenario
      5. CBD Pet Market – Industry Market Entry Scenario Premium Premium
          5.1 Regulatory Framework Overview
          5.2 New Business and Ease of Doing business index
          5.3 Case Studies of Successful Ventures
      6. CBD Pet Market Forces
          6.1 Market Drivers
          6.2 Market Constraints/Challenges
          6.3 Porters five force model
              6.3.1 Bargaining power of suppliers
              6.3.2 Bargaining powers of customers
              6.3.3 Threat of new entrants
              6.3.4 Rivalry among existing players
              6.3.5 Threat of substitutes
      7. CBD Pet Market – Strategic Analysis
          7.1 Value Chain Analysis
          7.2 Opportunities Analysis
          7.3 Market Life Cycle
      8. CBD Pet Market – By Product Type(Market Size –$Million/$Billion)
          8.1 Oil Tincture
          8.2 Capsules
          8.3 Treats
          8.4 Topical
          8.5 Others
      9. CBD Pet Market – By Application(Market Size –$Million/$Billion)
          9.1 Epilepsy
          9.2 Joint Pain
          9.3 General Health & Wellness
          9.4 Anxiety/Stress
          9.5 Others
      10. CBD Pet Market – By End User(Market Size –$Million/$Billion)
          10.1 Retail Pharmacies
          10.2 Online Channels
          10.3 Veterinary Clinics
          10.4 Others
      11. CBD Pet Market - By Geography(Market Size –$Million/$Billion)
          11.1 North America
              11.1.1 U.S.
              11.1.2 Mexico
              11.1.3 Canada
          11.2 Europe
              11.2.1 U.K.
              11.2.2 France
              11.2.3 Germany
              11.2.4 Italy
              11.2.5 Spain
              11.2.6 Russia
              11.2.7 Rest of Europe
          11.3 Asia Pacific
              11.3.1 China
              11.3.2 India
              11.3.3 Japan
              11.3.4 South Korea
              11.3.5 Australia & New Zealand
              11.3.6 Rest of Asia Pacific
          11.4 South America
              11.4.1 Brazil
              11.4.2 Argentina
              11.4.3 Rest of South America
          11.5 Rest of the World
              11.5.1 Middle East
              11.5.2 Africa
      12. CBD Pet Market - Entropy
      13. CBD Pet Market – Industry/Segment Competition Landscape Premium
          13.1 Market Share Analysis
              13.1.1 Global Market Share – Key Companies
              13.1.2 Market Share by Region – Key companies
              13.1.3 Market Share by Countries – Key Companies
              13.1.4 Competition Matrix
              13.1.5 Best Practices for Companies
      14. CBD Pet Market – Key Company List by Country Premium Premium
      15. CBD Pet Market Company Analysis
          15.1 Company 1
          15.2 Company 2
          15.3 Company 3
          15.4 Company 4
          15.5 Company 5
          15.6 Company 6
          15.7 Company 7
          15.8 Company 8
          15.9 Company 9 
          15.10 Company 10
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