Report ID: UCMIG30I2171
CBD Pet Market Size, Share, Growth Analysis, By Animal Type(Dogs, Foods/Treats, Vitamins & Supplements, Cats) - Industry Forecast 2024-2031
Report ID:
UCMIG30I2171 |
Region:
Global |
Published Date: Upcoming |
Pages:
165
| Tables: 55 | Figures: 60
CBD Pet Market Insights
Market Overview:
In 2022, the global market for CBD pet products reached an estimated valuation of USD 195.98 million. This estimation highlights the increasing popularity and acceptance of CBD-based products for pets, driven by the growing awareness of the potential health benefits of CBD in veterinary medicine. CBD pet products offer a natural and holistic approach to support the well-being of pets, addressing issues such as anxiety, pain, inflammation, and age-related ailments. The market's growth is fueled by factors such as the rising pet ownership rates, the growing humanization of pets, and the shift towards natural and alternative therapies. Pet owners are seeking safe and effective solutions to improve the quality of life for their beloved companions, and CBD pet products provide a promising avenue for addressing various health concerns. Additionally, favorable regulatory changes and increased research and development efforts are further propelling the market's expansion. Looking ahead, the global CBD pet market is anticipated to continue its upward trajectory as pet owners increasingly recognize the potential benefits of CBD in supporting their pets' overall wellness. Manufacturers are investing in product innovation, offering a diverse range of CBD-infused pet treats, oils, topicals, and supplements tailored to different animal sizes and needs. Furthermore, collaborations between CBD companies and veterinarians are contributing to the dissemination of accurate information and the development of evidence-based CBD products, ensuring the market's growth is accompanied by reliable and high-quality offerings for pets.
CBD Pet Market, Forecast & Y-O-Y Growth Rate, 2020 - 2028
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This report is being written to illustrate the market opportunity by region and by segments, indicating opportunity areas for the vendors to tap upon. To estimate the opportunity, it was very important to understand the current market scenario and the way it will grow in future.
Production and consumption patterns are being carefully compared to forecast the market. Other factors considered to forecast the market are the growth of the adjacent market, revenue growth of the key market vendors, scenario-based analysis, and market segment growth.
The market size was determined by estimating the market through a top-down and bottom-up approach, which was further validated with industry interviews. Considering the nature of the market we derived the Packaged Foods & Meats by segment aggregation, the contribution of the Packaged Foods & Meats in Food, Beverage & Tobacco and vendor share.
To determine the growth of the market factors such as drivers, trends, restraints, and opportunities were identified, and the impact of these factors was analyzed to determine the market growth. To understand the market growth in detail, we have analyzed the year-on-year growth of the market. Also, historic growth rates were compared to determine growth patterns.
CBD Pet Market Report Snapshots
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