Note: This article’s statistics come from third-party sources and do not represent the opinions of this website.
The use of CBD, non-psychoactive chemical compounds derived from the marijuana plant, as an alternative medical treatment in humans has exploded in recent years. Backed by growing research and boosted by an improving legal landscape worldwide, the human CBD market is big business. Despite a lack of research and murky legal waters, the pet CBD market is also on fire globally. Pet CBD sales were over $600 million in the U.S. alone. In this article, we’ll cover the latest facts, statistics, and trends about how big the pet CBD market has become.
The 7 Pet CBD Market Statistics in 2023
- Pet CBD sales were expected to top $629 million in the U.S. in 2021.
- The global pet CBD market was expected to grow at an average of 58.9% annually between 2021-2028.
- North America holds the largest share of the pet CBD market.
- Dog products make up the majority of sales.
- Young women living in the city buy most CBD products in the U.S.
- Most pet CBD buyers discuss the purchase with their vet first.
- Most pet owners prefer to buy CBD products in pet stores versus online.
How Big Is the Pet CBD Market?
1. Pet CBD sales were expected to top $629 million in the U.S. in 2021.
In 2020, pet CBD products generated $426 million in sales, showing that the market is growing rapidly. As CBD use becomes more widespread among humans, it’s increasing in popularity among pet owners as well. The continued drive for the legalization of cannabis, in general, has helped destigmatize its use. An estimated 73% of people who buy pet CBD also purchase it for themselves. According to projections, the CBD market in the U.S. could be worth 1.1 billion dollars by 2025.
2. The global pet CBD market was expected to grow at an average of 58.9% annually between 2021-2028.
By 2028, the market could be worth 4.79 billion U.S. dollars globally. Overall, pet owners are spending more on their pet’s health, contributing to a demand for natural remedies like CBD products. The rise of anxiety disorders, accelerated by the Covid-19 pandemic, is expected to play a major role in the growth of the industry. Food products containing CBD are another sector that is experiencing increased demand. Although the industry experienced challenges during early 2020, as did the world economy, it has grown stronger due to the high demand for CBD products.
In 2020, North America made up 38% of the global pet CBD revenue. Recent legal changes allowing hemp cultivation and shifting attitudes toward CBD use make North America a fertile ground for continued increases. Europe was the second-largest market, as the pet population and the amount of money spent on pets increased. Asia is expected to witness tremendous growth over the next few years due to more people owning pets and having more money to spend on them.
4. Dog products make up the majority of sales.
In 2020, dog products accounted for 68% of sales. Globally, dogs are the most popular pets, and it makes sense that they also make up more of the CBD sales. However, the cat product market seems poised for the most growth. In particular, cat owners seem interested in CBD products geared toward joint health and providing pain relief from arthritis. Many traditional arthritis medications aren’t labeled for cats or are dangerous for kitties. Because of this, cat owners are looking toward alternative remedies like CBD.
5. Young women living in the city buy most CBD products in the U.S.
Overall, Millenials buy the most CBD products in the U.S., making up 53% of total customers, and 46% of pet CBD customers live in cities, while 30% live in the suburbs. Recently, Millenials surpassed Baby Boomers as the generation that owns the most pets. Millennials are also increasingly choosing to delay having children or skip the process entirely. Because of this, Millenial pet owners can devote more time and money to their pets, accounting for their prevalence in the CBD product market.
6. Most pet CBD buyers discuss the purchase with their vet first.
70% of people who purchased CBD in the U.S. in 2021 first discussed the products with their veterinarian. That stat is more than double what it was in 2020. Pet owners appear eager to integrate alternative medicine into their vet’s treatment plans. Unfortunately, the legal landscape is muddled when it comes to whether vets are allowed to discuss CBD products with owners. In 2019, California was the first state to propose legislation for vets to recommend CBD products.
7. Most pet owners prefer to buy CBD products in pet stores versus online.
In 2022, $261.6 million in pet CBD products are expected to be purchased in pet stores compared to 95.6 million purchased online. This trend is not expected to slow down either, with a similar breakdown projected through 2026 as well. However, the exact opposite sales trends occur when it comes to people purchasing CBD products for themselves. Most CBD products for people are purchased online instead of in stores.
Is CBD Safe for Pets?
Overall, CBD is generally considered safe for dogs and cats, although there is not a lot of research on the subject so far. Some studies showed that CBD could have an impact on the liver, but more research is needed to determine the significance of this finding.
One issue with the safety of CBD is that the products are largely unregulated by the FDA, and there’s no way of telling the actual concentration of the compound that’s present. There is one FDA-approved CBD product with confirmed dosage levels, but many others actually contain little to no CBD at all.
What Conditions Does CBD Treat?
The usefulness of CBD in treating pets has not been well-researched. It is known to provide pain relief for dogs with arthritis, and one study indicated CBD could help reduce seizure frequency in dogs with epilepsy when combined with traditional anti-seizure drugs.
Although many pet owners are interested in CBD for treating their animal’s anxiety, no conclusive studies thus far suggest it is helpful for this condition. Some pet owners have suggested that CBD may help treat nausea in pets undergoing chemotherapy, but more scientific evidence is needed to confirm the claim.
If you’re considering adding your dollars to the billions spent on pet CBD worldwide, be sure to discuss the issue with your veterinarian first. In most locations, vets can’t suggest or bring up the subject of CBD, but they can discuss the pros and cons with you if you mention it to them. It’s especially important to find out if CBD products will interact with any traditional medications your pet is taking. Also, keep in mind that marijuana and THC products are not safe for pets, and you should contact your veterinarian if you suspect your pet has ingested them.
Featured Image Credit: Vane Nunes, Shutterstock