Industry Background:
The CBD pet market has produced a very interesting subset within its pet products. Today, nearly 26% of American adults with dogs are using hemp-based CBD products. CBD oil has become one of the highly growing trends in supplements from the past few years. CBD not only benefited humans but dogs also, as they host an endocannabinoid system similar to humans, because of that they are able to experience the same benefits of CBD as well.This growth is primarily driven by Changing Consumer Preferences Towards Organic Healthcare Pet Products
.
Attributes | Details |
---|
Study Period | 2018-2028 |
Base Year | 2022 |
Forecast Period | 2023-2028 |
Volume Unit | K Units |
Value Unit | USD (Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
The Consumer Goods sector in the
region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Vendors, such as GCH Inc. (United States), Canna-Pet (United States), Honest Paws (Unite States), HempMy Pet (United States), Fomo Bones (United States), Verma Farms (United States), PETLY CBDcbd (United States), Medterra (United States), Colorado Botanicals (United States) and CBD Living (United States), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
IIn November 2022 Sky Wellness, a company providing people and animals with CBD, relaunched its CBD wellness collection for dogs under its D Oh Gee brand. The collection includes three broad-spectrum, THC-free CBD products formulated to support joint health and mobility. Source:
In Feb 2021, Canopy Animal Health announced the launch of a new line of science-backed CBD products for dogs under the brand name of SurityPro. Through this initiative, the company becomes more competent in this industry.The companies are discovering the market in new geographical areas by adopting various strategic growth areas such as mergers & acquisitions, expansions, investments, new product launches, and others. The market key players are exploring new areas through growths and achievements across the globe to benefit from competitive advantage through combined synergies.
Influencing Trend:
Development in Packaging Technology
Market Growth Drivers:
Changing Consumer Preferences Towards Organic Healthcare Pet Products and North America to Drive the CBD Pet Sales
Challenges:
Disruption in Supply Chains Because of the COVID-19 Pandemic
Restraints:
Stringent Government Regulations
Opportunities:
Increase Awareness Regarding Pet Health Benefits from CBD Products
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mainly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Vendors landscape impacting the market's growth. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Data Sources of CBD Pet Products Market Study
Primary Collection: InMail, LinkedIn Groups, Survey Monkey, Google, and Other professional Forums are some of the mediums utilized to gather primary data through key industry participants and appointees, subject-matter experts, C-level executives of CBD Pet Products Industry, among others including independent industry consultants, experts, to obtain and verify critical qualitative commentary and opinion and quantitative statistics, to assess future market prospects.
The primary interviews and data collected as per the below protocols: By Designation: C-Level, D-Level, Others
By Company Type: Tier 1, Tier 2, Tier 3
Secondary Data Sources such as Annual reports, Press releases, Analyst meetings, Conference calls, Investor presentations, Management statements, and SEC filings of CBD Pet Products players along with Regulatory Sites, Association, World bank, etc were used as sources secondary set of data.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, CBD Pet Products Study Sheds Light on
The CBD Pet Products Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the CBD Pet Products industry Vendors. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where CBD Pet Products industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Vendors can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.