The global CBD pet market size is estimated to be USD 49.9 million in 2021 and is expected to witness a CAGR of 45.35% during the forecast period. Rising awareness for cannabis benefits among pet owners, coupled with a fondness for organic pet supplements is a key driver responsible for the growth of the global CBD pet market. Additionally, liberalization in regulations, novel product development, intensifying competition among market players, and government support are some of the other drivers propelling the market growth. Nevertheless, inadequate product awareness is expected to restrain global market growth.

By Product

Based on product, the market is segmented into therapeutic grade and food grade. In 2021, the food-grade segment accounted for a significant revenue share and is expected to grow with a lucrative CAGR during the forecast period. This is attributed to the growing expenditure on pet health coupled with the increasing adoption of CBD food products, worldwide. Therapeutic grade segment is expected to grow at a profitable CAGR during the forecast period. This is attributed to the rising demand for CBD oil for the treatment of pain and inflammations among pets.

By Application

Based on application, the market is categorized into epilepsy, joint pain, general health/wellness, anxiety/stress, and others. The general health/wellness companies segment accounted for the highest revenue in 2021 and is projected to maintain its dominance over the forecast period. The rising focus of owners on pet health coupled with a large product offering in the market is a key factor that drives the segment growth. The joint pain segment is anticipated to grow at a profitable CAGR during the forecast period. This is attributed to the rising prevalence of joint pain illness in pets owing to immobility and obesity.

By End Use

Based on end use, the market is categorized into e-commerce, pet specialty stores, and others. The e-commerce segment accounted for the highest revenue in 2021 and is projected to maintain its dominance over the forecast period. Large availability and reach of CBD pet products via digital platforms is a key factor that drives the segment growth. Increasing digital penetration and adoption of smart phones are anticipated to increase the growth of this segment during the forecast period.

Regional Insights

In 2021, North America accounted for the highest revenue share in the global market and is expected to maintain its dominance during the forecast period. This is attributed to the presence of leading pet product manufacturers, high consumer awareness, and strong digital penetration in this region. Asia Pacific market is projected to grow at a lucrative CAGR over the forecast period owing to the rising adoption of pets, increasing disposable income, and market expansion by leading pet products manufacturers in this region.

Competitor Insights

Some of the key players in the CBD pet market are Charlotte’s Web (U.S.); Petco Holdings, Inc. (U.S.); PETstock (Australia); CBD Living (U.S.); Wet Noses Inc. (U.S.); Joy Organics (U.S.); HolistaPet (U.S.); FOMO Bones (U.S.); Canna-Pet (U.S.) and Relievet (U.S.). The leading players operating in the CBD pet industry are adopting various strategies including R&D investments, novel product launches, and regional expansions to capture a maximum revenue share.

This exhaustive research report focuses on market size and forecast at global, segmental, regional and country level along with key market trends and dynamics from 2018 to 2026. The CBD pet market report is categorized into the following segments and subsegments:

CBD Pet Market, By Product (Revenue, USD Million, 2021-2029)

CBD Pet Market, By Application (Revenue, USD Million, 2021-2029)

CBD Pet Market, By End-Use (Revenue, USD Million, 2021-2029)

CBD Pet Market, By Region (Revenue, USD Million, 2021-2029)

Scope of CBD Pet Market Report:

Key Parameters	Details
Base Year	2021
Forecast Period	2022-2029
Study Coverage	Global and regional market size and revenue forecast Segment market size and revenue forecast at global, regional, and country level Competitive landscape (company share analysis, company profiles, recent development, competitive map analysis) Conclusion and recommendations
Qualitative Analysis	Market drivers Market restraints Market opportunities Recent market trends Market challenges Porter’s Five Forces analysis PEST analysis Value-chain analysis COVID-19 impact analysis
Regional Market Scope	North America (U.S. and Canada) Europe (Germany, France, UK, Spain, Italy, Russia, Rest of Europe) Asia Pacific (China, Japan, India, Australia, South Korea, Rest of APAC) Latin America (Brazil, Mexico, Argentina, Rest of LATAM) MEA (South Africa, GCC, Rest of MEA)
Company Profiles	Exhaustive profiles of top 15 players 50+ other major players listing
15% Free Customization Available	You can customize the study scope to meet your exact requirement. Click here for more details