A Brief Overview of Pet CBD Market Growth
The pet CBD market has been soaring in recent years. Growth is being driven by pet owners looking for natural alternatives to their pets’ medical ailments especially anxiety, pain, or other serious conditions that have not responded well to other treatments.
ALL BLOGS FOR CAT PARENTS FOR DOG PARENTS
What you Want to Know About Pet CBD
Demand for pet CBD products has been skyrocketing for the past few years, effectively spawning a substantial subset within the CBD market. According to the U.S. pet supplements market report 2021-2025, CBD market growth revised up to 21% in 2020 due to several factors, including the rise of COVID-19 and pet owners corresponding to their pet’s needs more diligently. Case in point, the sales were recorded as high as $800 million in 2020, which is quadruple the amount of what the CBD pet products made the previous year in 2019!
CBD Pet Products, Usage, and Pricing
Locked-down pet owners are more in tune with their pet’s preferences these days, which is why they have deliberately intensified their focus on their health and wellness as well. In turn, the heightened demand for natural products and remedies that offer pets relief from anxiety and stress is leaping off the charts, making an extinguishing mark in the CBD market growth.
While the CBD pet products were traditionally introduced for dogs at first, there are now an elevating number of products available, marketed to a broader range of home pets, including cats, fish, rabbits, birds, and even horses. These natural products include:
1- Edibles (Treats and Chews)
Edibles are the best products for pet owners looking for a budget-friendly and low-risk option to try out for the first time. This is primarily a good choice if someone wants to add a daily dose of supplement into their pet’s treat-giving routine.
On the contrary, tinctures are an excellent choice because of their versatility, considering that they can be administered using a spray, dropper, and as simple pet treats.
Topicals may include lotions, balms, and shampoos used to heal and calm irritated skin, paws, or rough hair. These are products meant for general skin health and hydration.
Lastly, CBD capsules are natural remedies that you can either offer to your pets in their food or wrapped inside their favorite treats for different medical purposes.
When it comes to CBD pet product’s pricing, they often range from general $20 packet treats and chews to $200 high-volume or high-dosage tinctures. Moreover, in terms of retail sales, edibles and tinctures are considered the prominently leading pet CBD category due to high unit prices and board distribution.
Potential CBD Market Growth by 2025
Confidence in the pet CBD market will expectedly grow even further in the next few years since more health benefits and clinical data would come forth. Not to mention, these actions will be explicitly supported by veterinarians, and pet owners will be able to discuss these products in detail more comfortably. Furthermore, pet CBD is anticipated to be a $1.1 billion industry by the end of 2025, accelerated by more factual information and discussions regarding CBD’s potential health benefits for pets.