Global CBD Pet Products Market is valued approximately USD XX billion in 2020 and is anticipated to grow with a healthy CAGR of XX% over the forecast period 2021-2027.CBD or Cannabidiol is the non-psychoactive component of the cannabis plant. CBD possesses calming and pain-relieving properties not only for humans but also for animals. CBD can induce calming effects, increase appetite, reduce frequencies of seizures, and fight growth of tumors in cats and dogs. The main driving factor of CBD pet products market is the increasing popularity of organic CBD based products among pet owners. The awareness about CBD has increased for human treatments as well as pet products. Pet owners giving preference to natural pet supplements has driven the growth of the market.
Relaxation of government regulations on hemp and cannabis have also driven the CBD Pet Products Market. The Farm bill and Agricultural Improvement Act of 2018 brought a lot of clarity into the market with separation of hemp and hemp-based products from marijuana products. However, taboo around hemp, and confusion between CBD & THC can still impact market growth over the forecast period of 2021-2027. Nevertheless, with increasing investments into development of new CBD pet products and rising awareness about benefits of CBD for pets, CBD Pet Products Market will likely increase exponentially in the forecast period.
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Regional analysis, considering Asia Pacific, North America, Europe, Latin America, and Rest of the World, reveals that North America is the most significant player across the world in terms of market share owing to huge pet owner population, increasing trend of pet humanization and regulatory clarity for hemp and CBD. At the same time, North America is also anticipated to exhibit the highest growth rate over the forecast period 2021-2027. Factors such as increasing legalization of cannabis consumption, high investment into CBD research and increasing pet culture would create lucrative growth prospects for the CBD Pet Products Market across North America region.
Major market player included in this report are:
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Distribution Channel:
Online Retail Channels
Rest of the World
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