Veterinary CBD Market: Global Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2017-2021 and Forecast 2022-2028

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Veterinary CBD Market By Product (Food Grade, Therapeutic Grade and Personal Care), Distribution Channel (E Commerce, Retail Pharmacies and Vetcare Clinics) and Geography (North America, Europe, Asia Pacific, Latin America, and MEA) and Forecast to 2028

 

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Report

Description

The veterinary CBD market size is valued at USD million in 2021 and is poised to grow at a significant CAGR over 2022–2028. The potential therapeutic applications of CBD in the context of evidence-based medicine, especially in dogs and horses in relation to the treatment of pain, epilepsy, and anxiety in order to give veterinarians a succinct summary of scientific results in this area. Increasing interest in the therapeutic approach in veterinary medicine is logically connected to expanding the use of cannabinoids or medical cannabis in human. Due to legal restrictions, the use of medical cannabis for veterinary purposes is not permitted in many nations; however, the use of CBD alone is generally possible. However, the number of trustworthy sources for the clinical use of cannabis in veterinary medicine is substantially smaller. Cannabidiol (CBD) products have become very popular recently, both among pet owners and in the veterinary field. Over-the-counter hemp-based CBD is extremely well-liked due to its widespread accessibility and Internet “buzz,” and cannabis, in general, has turned into one of the most influential natural medications to be brought into contemporary veterinary practice.

Key Developments:

In Feb 2019, Canopy Growth and Martha Stewart worked together to introduce a line of CBD-infused animal health products.

Veterinary CBD Market

MARKET SUMMARY
-
x%
  • Study Period– 2022-2028
  • Base Year– 2021
  • CAGR– x%
  • Largest Market– North-America
  • Fastest Growing Market– Asia-Pacific

Veterinary CBD Market

  • The veterinary cbd market report gives comprehensive outlook across the region with special emphasis on key regions such as North America, Europe, Asia Pacific, Latin America and Middle East and Africa.
  • The veterinary cbd market is segmented based on product type, source,distribution channel, and geography.
Key Players
  • HolistaPet (US)
  • Honest Paws (US)
  • Joy Organics (US)
  • Pet Releaf (US)
  • Wet Noses (US)
Veterinary CBD Market Dynamics

Over the past ten years, a rise in the proportion of homes with several pets has been crucial in maintaining the size of the pet population. In the US, there were 149 million dogs and cats kept as pets in 2020 compared to 140 million in 2019, an increase of around 7%. That growth greatly outstripped pre-pandemic projections, which expected an increase of 1%-2%. Due to the peculiarities of the lockdown situation, many Americans choose to adopt or purchase pets as companions. The epidemic also significantly decreased birth rates, which may have led some millennial couples to choose dogs over children. Hence, the flood of CBD supplements that entered the market to treat concerns like anxiety, pain management, and inflammation for pets led to an increase in the sales of pet supplements in 2020.


Asia-Pacific Got Significant Share

Veterinary CBD Market

The Veterinary CBD market in Asia Pacific is likely to hold a significant revenue share in 2021, and, in the following years, it is predicted to increase rapidly. The growth for the region can be attributed to raising consumer knowledge of natural supplements and the present focus on cannabis's medicinal uses. Additional factors that are anticipated to fuel market growth include the rise in pet adoption and the rising demand for high-end care products. USA is the major contributor for the growth of the market in the region. Asia Pacific held considerable market share during estimated period. The manufacturing of CBD oil cakes and capsules for pets is expected to increase in the region, particularly in China, which is located in the APAC region and has had a quick expansion of the pet CBD industry.

Latin America
Latin-America
North-America
North-America
Europe
Europe
Asia Pacific
Asia-Pacific
Middle East
Middle East

Key

Features of the Report

  • The report provides granular level information about the market size, regional market share, historic market (2017-2021) and forecast (2022-2028)
  • The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and their key strategies
  • The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
  • The report tracks recent innovations, key developments, and start-up details that are actively working in the market
  • The report provides a plethora of information about market entry strategies, regulatory framework, and reimbursement scenario
Veterinary CBD Market Segmentation


Location

GEOGRAPHY

Frequently Asked Questions

The Veterinary CBD Market is projected to expand at a CAGR of 18.5% during the forecast period.

The major players in the global veterinary CBD market are Canna-Pet (US), Fomo Bones (US), Green Roads of Florida (US), HempMy Pet (US), HolistaPet (US), Honest Paws (US), Joy Organics (US), Pet Releaf (US) and Wet Noses (US).

Asia-Pacific is the fastest-growing region for Veterinary CBD Market


Report

Company Profile

  • Canna-Pet (US)
  • Fomo Bones (US)
  • Green Roads of Florida (US)
  • HempMy Pet (US)
  • HolistaPet (US)
  • Honest Paws (US)
  • Joy Organics (US)
  • Pet Releaf (US)
  • Wet Noses (US)

Description

The veterinary CBD market size is valued at USD million in 2021 and is poised to grow at a significant CAGR over 2022–2028. The potential therapeutic applications of CBD in the context of evidence-based medicine, especially in dogs and horses in relation to the treatment of pain, epilepsy, and anxiety in order to give veterinarians a succinct summary of scientific results in this area. Increasing interest in the therapeutic approach in veterinary medicine is logically connected to expanding the use of cannabinoids or medical cannabis in human. Due to legal restrictions, the use of medical cannabis for veterinary purposes is not permitted in many nations; however, the use of CBD alone is generally possible. However, the number of trustworthy sources for the clinical use of cannabis in veterinary medicine is substantially smaller. Cannabidiol (CBD) products have become very popular recently, both among pet owners and in the veterinary field. Over-the-counter hemp-based CBD is extremely well-liked due to its widespread accessibility and Internet “buzz,” and cannabis, in general, has turned into one of the most influential natural medications to be brought into contemporary veterinary practice.

Key Developments:

In Feb 2019, Canopy Growth and Martha Stewart worked together to introduce a line of CBD-infused animal health products.

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