The global CBD pet market size is expected to reach USD 1.72 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a lucrative CAGR of 32.47% from 2024 to 2030. The key factors driving the market growth include growing expenditure on pets, pet humanization, rising R&D in pet products, and increased awareness & sales of cannodial (CBD) pet products. Furthermore, an increased understanding of conditions like osteoarthritis in pets also remains a strong driver of growth. According to Morris Animal Foundation, osteoarthritis affected about 14.0 million adult dogs in the U.S. in 2021.

The COVID-19 pandemic led to adverse impacts such as supply chain hurdles, a slowdown in retail sales, and restricted access to veterinary care. However, it also led to increased demand for CBD pet products as pet parents spent more time at home, with increased attention to their pet’s health. Market players leveraged the growing demand during COVID-19 by launching new pet-specific products.

In November 2020, CV Sciences, Inc., a key company specializing in hemp-derived CBD products, launched a full line of hemp extracts-Plus CBD Pet exclusively for dogs and cats. The product line was launched via the company’s offline and online retail channels, with plans to expand into food, drug, mass retail, and pet specialty channels in the global CBD pet industry.

The increasing number of research activities for CBD-based pet products is a key driver propelling market growth. For instance, according to a new article in the Research in Veterinary Medicine, Elsevier, recent advancements in CBD-based natural health products have led to several benefits in the area of pain, anxiety, and inflammation in felines & canines. More veterinary institutes shifted their focus toward studies in CBD and its potential applications in animal health & wellness. Furthermore, key companies continue to undertake R&D initiatives to expand their product portfolios. For example, Real Brands, a CBD company, acquired Biosciences Laboratories for USD 12 million to expand its production capacity by 300% in CBD markets and other pet & human markets.

Gather more insights about the market drivers, restrains and growth of the CBD Pet Market

CBD Pet Market Report Highlights

• The CBD Pet industry reached a valuation of USD 248.39 million in 2023. It is expected to grow at a CAGR of 32.47% during the forecast period.

• Expenditure on dogs remained a key highlight as it held the dominant market share of more than 65.05% in 2023, due to the increasing popularity of dogs as pets across the globe

• The joint pain segment is expected to dominate the market over the forecast period due to the increasing prevalence of arthritis in pets

• The e-commerce segment held the largest revenue share of over 42.32% in 2023, due to the segment’s perceived benefits of enabling pet parents to choose CBD products from a wide portfolio at competitive prices from the comfort of their home

• North America is expected to dominate the CBD Pet industry over the forecast period due to the presence of key market players coupled with growing awareness of cannabis benefits among pet owners

CBD Pet Market Segmentation

Grand View Research has segmented the global CBD pet market report based on animal type, indication, distribution channel, and region

CBD Pet Animal Type Outlook (Revenue, USD Million, 2018 - 2030)

• Dogs

o Foods/Treats

o Vitamins & supplements

• Cats

o Foods/Treats

o Vitamins & supplements

• Others

CBD Pet Indication Outlook (Revenue, USD Million, 2018 - 2030)

• Joint Pain

• Anxiety/Stress

• Epilepsy

• General Health/Wellness

• Other Indications

CBD Pet Distribution Channel Outlook (Revenue, USD Million, 2018 - 2030)

• Pet Specialty Stores

• E-commerce

• CBD Store

• Others

CBD Pet Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America

o U.S.

o Canada

• Europe

o Germany

o UK

o France

o Italy

o Spain

o Rest of Europe

• Asia Pacific

o Japan

o China

o India

o South Korea

o Australia

o Rest of Asia Pacific

• Latin America

o Brazil

o Mexico

o Argentina

o Rest of Latin America

• Middle East & Africa 

o South Africa

o Saudi Arabia

o Rest of Middle East & Africa

Order a free sample PDF of the CBD Pet Market Intelligence Study, published by Grand View Research.