Sector Snapshot: Insights on the Growing Market for CBD Pet Products
Americans love their pets and spare no expense to keep their fur babies happy and healthy. According to the American Pet Products Association (APPA), U.S. pet owners spent a record-breaking $72.6 billion on their pets in 2018, an increase of more than $3 billion from 2017.
The market for pet CBD is also booming, jumping from niche retailers to mass-market giants like Petco and PetSmart. The pet CBD market went from almost zero in 2016 to $25 million last year, according to market analytics giant, The Nielsen Company.
If you’re looking to learn more about the CBD market for pet products, the experts at Hemp Industry Daily, in partnership with The Nielsen Company, have created this report for you.
Specifically intended for CBD companies making pet products, CBD retailers, distributors, buyers and producers; this new report featuring Nielsen’s exclusive consumer data provides insights on the current value and landscape of the CBD for pets retail market, including:
- The current market value of the CBD pet products market
- Consumer demographics and spending
- Comparative consumer spending in different types of CBD pet products and retail
- CBD retail trends for pet products
- Major market players and why they are investing in the pet space
- Current regulatory issues
- Challenges and opportunities for further market growth