Pet CBD Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2028
Pet CBD Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2028
Report Digest
Global Pet CBD Market – Overview
The global pet CBD market is projected to witness considerable growth over the coming years of the forecast period. This growth of the market is fueled by the growing research funding provided by some of the large corporations working in the market. Pet CBD market has also benefitted from the growing awareness among people. More and more veterinary professionals are recommending these products for treating the chronic disorders occurring among pets.
Global Pet CBD Market – Notable Developments
The global pet CBD market shows a fragmented vendor landscape with the presence of large pool of key players. Some of the key players in the market include names such as Bluebird Botanicals, Kat’s Naturals, PotNetwork Holdings Inc., Diamond CBD, Pet Releaf, Cannabis Strategies Acquisition Corp., and Pure Spectrum among others.
Some of the recent developments in the global pet CBD market are listed below:
- In June 2019, PotNetwork Holding Inc. announced that its subsidiary Diamond CBD has introduced a wide range of new lines of CBD oil products in the market. These new products include CBD oil with olive oil, CBD oil honey tinctures, CBD oil with hemp seed oil, and full spectrum CBD MCT oils. The company expects to leverage the peaking consumer interests and growing preference for CBD products.
- In September 2019, Pet Releaf, one of the biggest brands in the global pet CBD market, announced that the company has launched a special edition of their highly popular collection of Barking Dog Edibites®. The new edition is an all-natural and full spectrum regular CBD dietary supplement for dogs.
Global Pet CBD Market – Drivers and Restraints
One of the biggest driving factor for the growth of the global pet CBD market is the increasing prevalence of GIT and bowel related disorders among pets. Just like humans, pets too suffer from sleeping or anxiety disorders and thus need special treatment. This has thus worked in favor of the pet CBD market.
Another important driving factor for the growth of the global pet CBD market is the growing occurrence of cancer related complications. Cannabidiol treatment has thus become an important method for treating pet and helping the market to grow. Moreover, there has been a growing demand for different CBD derivatives in the market to treat chronic pet disorders. At times, there are cases of pet suffering from heart disorders or tachycardia. Treatment of such chronic disorders is also creating great demand for the market.
Global Pet CBD Market – Geographical Outlook
In terms of geographical segmentation, the global pet CBD market has five key regional segments namely, Europe, Latin America, North America, Asia Pacific, and the Middle East and Africa. Of these regional segments, currently North America is the most dominating one followed by Europe. The growth of the North America region is due to the presence of several animal research and development facilities. Whereas, the growth of the Europe market is due to the high prevalence of GIT related and bowel related disorders among the pets. In coming years, these two regions are expected to continue to lead the global pet CBD market.
Asia Pacific is expected to undergo considerable transformation over the course of the given forecast period of 2018 to 2028. The growth of the market can be primarily attributed to expanding production facilities in the region. Manufacturers are investing to expand the production of CBD capsules and oil cakes for the pets in countries such as India and China. It is expected to boost the development of the market in the region.
Global Pet CBD Market Segmentation
Source Type
- Hemp plant derived
- Marijuana derived
Indication Type
- Sleep disorders
- Epilepsy
- Cancer
- Bowel disorders
End-user
- Veterinary hospitals
- Veterinary clinics
- Pharamcies
- Pet shops
This study provides a particularized anatomy according to the L.E.A.P mechanism
- Latest trends and cardinal growth prospects
- Existing and future insights in growth
- Ascensions in technology
- Pain points
The regional analysis offers market assays across:
- North America
- Asia Pacific
- Europe
- Latin America
- The Middle East and Africa
The study, prepared through the L.E.A.P mechanism adds a dimension of infallibility and assures precise information on all the growth dynamics.
Latest Trends and Cardinal Growth Prospects
The study assists in burnishing the knowledge of the stakeholder in terms of the emerging trends. The study provides an expansive coverage on the latest developments and novel profit-yielding sources that augur well with the market. A dedicated and determined team of experts conduct an out-and-out research on diverse aspects to offer ultimate breakthroughs in the market.
Existing and Future Insights in Growth
The interfusion of ubiquitous primary and secondary research through modern tools invites perfection and accuracy in every aspect. Primary research is circumspectly conducted through exhaustive interactions and interviews of experts. These valuable opinions are then neatly inducted in the report to allow the stakeholder for reaping the benefits. A treasure of secondary data is extracted via famed paid sources, yearly estimates and statements, renowned journals, and government documents. These sources assist in creating a robust database comprising existing and subsequent growth dynamics.
Ascensions in Technology
Diverse technological advancements and cutting-edge innovations in the market have been covered in this study to assist the stakeholder in research and development activities. Recent upgrades have also been added in the study, thus helping the stakeholder to paint the strokes of growth on the canvas of the market.
Pain Points
The study presents a plethora of challenges and obstacles that can hinder the growth of the market to allow the stakeholder to prepare their strategies accordingly.
The world ushered in the new decade with the shadow of the COVID-19 pandemic. The outbreak has damaged the growth prospects of several businesses and has crippled the entire economy. The study is in tandem with the changing dynamics of the market due to the SARS-CoV-2 outbreak. The study focuses on the coronavirus pandemic and analyses every aspect that impacts the growth positively or negatively.
An aerial perspective of the regions covered in this study enables the stakeholder to design strategies accordingly. The 360-degree assessment of every aspect associated with growth offers information on a rainbow of growth opportunities available across the market.
The exhaustive study motivates the stakeholder to take the 'LEAP' of faith and achieve success!
This report is the key to questions such as:
What are the prominent factors that will help in reshaping the market growth?
Which trends have the potential to bring expansive growth for the market?
What are the necessary strategies to overcome the ill-effects of the COVID-19 pandemic?
Which regions will emerge as champion growth contributors for the market?
Which aspects will serve as game-changers for the market?
What are the latest innovations in the market?
Which factors will hinder the growth of the market?
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