Veterinary CBD Market Research Report – Global Forecast till 2027

Veterinary CBD Market Research Report Insights and Industry Analysis by Source (Marijuana-Derived, Hemp-Derived); Product (Food-Grade, Therapeutic-Grade, Personal Care); Distribution Channel (E-Commerce, Retail Pharmacies, Vetcare Clinics) and Regions, Competitive Market Size, Share, Trends, and Forecast, 2020-2027

ID: MRFR/HC/6666-HCR | February 2021 | Region: Global | 111 pages

Please note that the assessment period of report has been updated from 2019-2025 to 2020-2027. Cordially fill the sample form for updated data

Market Synopsis


The Global Veterinary CBD Market value is expected to increase to USD 125 million by 2022, at a phenomenal CAGR of 57%.


The Global CBD Market is projected to register an impressive CAGR of 36.3%, increasing from USD 1.453 billion in 2018 to USD 17.345 billion by 2026.


The global pet care market is also expanding due to the increasing adoption of pets across the world, along with a higher propensity for people to spend on pet healthcare. This market is expected to cross USD 202.6 billion by 2025 at a respectable CAGR of 4.9%.


At the confluence of both these markets is the relatively new global veterinary CBD market which is poised to grow aggressively, especially in North America. The Pet CBD market stands to benefit from the factors that are propelling both these industries along with its own drivers which ensure that the environment for the global veterinary CBD market is conducive to unprecedented growth as reflected by its astronomical 57% CAGR for the forecast period.


Market USP


Ease of implementation and introduction into the already established veterinary healthcare market.


Market Drivers



  • Organic healthcare products are preferred by pet owners.

  • Fewer side effects than conventional medication

  • Proven to work against many diseases for which the only current alternative is expensive drugs; case in point is osteoarthritis, a disease afflicting canines as they age.

  • Works miraculously toward the maintenance of the mental health of pets with proven reports stating its utility in reducing tiredness, fatigue, balancing mood swings, and aiding pets in adjusting to old age.

  • CBD has tremendous potential to manage pet pain, anxiety, and seizures.

  • Relatively new and untapped market

  • Rising number of household pets

  • Increasing willingness to spend on pet healthcare

  • Low implementation costs

  • Unlike conventional medication for pets, CBD healthcare products do not need to be tailormade for each individual pet species.


Market Constraints



  • Unclear regulatory environment for the use of veterinary CBD oil products and manufacturing of source product (hemp and/or marijuana)

  • Legal allowances and restrictions differ not only from country to country but also within different regions of the same country.

  • Differing laws and regulations pertaining to the purchase and manufacturing/processing of Pet CBD products raw materials across countries, import and export are highly problematic, which tends to limit the growth of the Pet CBD market size.


Key Players



  • Honest Paws (US)

  • HolistaPet (US)

  • HempMy Pet (US)

  • Canna-Pet (US)

  • Joy Organics (US)

  • Fomo Bones (US)

  • Pet Releaf (US)

  • Green Roads of Florida (US)

  • Wet Noses (US)


Segmentation


By Source



  • Marijuana-Derived: Completely legal in Canada, South Africa, and a few US states, marijuana is still one of the top raw materials for CBD products due to the potency of the THC. Though very few countries have legalized marijuana completely, many more are expected to effectively legalize it in the near future.



  • Hemp-Derived: Unlike marijuana, hemp is legal in almost all countries of the world and is, thus, used primarily for CBD products. Hemp is somewhat limited only by the weak concentration of THC.


By Product



  • Food-Grade: The current leading market segment, it has been further divided into

    • Treats

    • Chews

    • Others



  • Therapeutic-Grade: This segment is expected to be the fastest-growing due to increased support for these products by veterinarians and consumer concern for the mental wellbeing of pets. The segment has been further classified as

    • Pet Supplements

    • Pet CBD Oils





  • Personal Care: An upcoming niche segment, these items are focused on managing the aptitude of pets and largely deal with hyperactivity, mood management, and elder pet care.


By Distribution Channel



  • E-Commerce: One of the best distribution channels for veterinary CBD medicine is the online market space. It easily circumvents the confusing legality pertaining to CBD products while providing a platform where almost all products can be compared and sold.



  • Retail Pharmacies: Petcare pharmacies are increasingly stocking pet CBD products as knowledge about them grows and they find wider acceptance among the populace.



  • Vetcare Clinics: Arguably Ground Zero for any pet care product, veterinary clinics have increasingly started stocking pet CBD products like CBD oil, CBD veterinary medicine as they deem them as efficient and inexpensive alternatives to drug therapy.



  • Others: This includes most informal channels of sale.


By Region


  • Americas

    • North America

      • US

      • Canada



    • Latin America





  • Europe

    • Western Europe

      • Germany

      • France

      • UK

      • Italy

      • Spain

      • Rest of Western Europe



    • Eastern Europe





  • Asia-Pacific

    • China

    • India

    • Japan

    • Australia

    • South Korea

    • Rest of Asia-Pacific





  • Middle East & Africa

    • Middle East

    • Africa




Regional Analysis


  • Americas: Leading the global veterinary CBD market due to the legislative allowances for marijuana and the large-scale infrastructure support for new industries, the North American market is expected to maintain its lead for the foreseeable future. Latin America is keen to follow North America’s lead when it comes to veterinary CBD oil, albeit with a significantly smaller market share.



  • Europe: A focus on pet health along with a well-established tradition for research and implementation in the region means the European market is a strong contender to the North American market.



  • Asia-Pacific: Boasting highest numbers of pets and livestock, the Asia-Pacific Pet CBD market is currently limited only by regulatory norms and a preference for traditional medical practices. However, being the largest producer of hemp, along with a recorded history of medicinal marijuana use, the region shows the most promise for aggressive market growth once awareness of the benefits of veterinary CBD oil increases.



  • Middle East & Africa: The veterinary CBD market in the Middle East & Africa remains the smallest due to low per capita income, fewer household pets, and an underdeveloped pet healthcare industry in these regions.



Frequently Asked Questions (FAQ) :


Veterinary CBD market projected to grow at approximately 57% CAGR during the assessment period (2016-2022).

The valuation of the global veterinary CBD market is estimated to increase to USD 125 MN by the end of 2022.

Increasing number of household pets and easing of restrictions governing the use of CBD products to treat various ailments are major tailwinds pushing the growth of the global veterinary CBD market.

North America holds the largest share in the global veterinary CBD market, followed by Europe and the Asia Pacific, respectively.

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

Table of Contents

1. EXECUTIVE SUMMARY

1.1. Market Attractiveness Analysis

1.1.1. Global Veterinary CBD Market, by Source

1.1.2. Global Veterinary CBD Market, by Product

1.1.3. Global Veterinary CBD Market, by Distribution Channel

1.1.4. Global Veterinary CBD Market, by Region

2. MARKET INTRODUCTION

2.1. Definition

2.2. Scope of the Study

2.3. Market Structure

2.4. Key Buying Criteria

2.5. Macro Factor Indicator Analysis

3. RESEARCH METHODOLOGY

3.1. Research Process

3.2. Primary Research

3.3. Secondary Research

3.4. Market Size Estimation

3.5. Forecast Model

3.6. List of Assumptions

4. MARKET DYNAMICS

4.1. Introduction

4.2. Drivers

4.2.1. Rise in the Adoption of Pets

4.2.2. Growing Animal Healthcare Expenditure

4.2.3. Increasing Awareness of Animal Health

4.3. Restraints

4.3.1. XX

4.3.2. XX

4.4. Opportunities

4.4.1. Regulatory Scenario

5. MARKET FACTOR ANALYSIS

5.1. Value Chain Analysis/Supply Chain Analysis

5.2. Porter’s Five Forces Model

5.2.1. Bargaining Power of Suppliers

5.2.2. Bargaining Power of Buyers

5.2.3. Threat of New Entrants

5.2.4. Threat of Substitutes

5.2.5. Intensity of Rivalry

6. GLOBAL VETERINARY CBDMARKET, BY SOURCE

6.1. Introduction

6.2. Hemp-Derived

6.3. Marijuana-Derived

7. GLOBAL VETERINARY CBD MARKET, BY PRODUCT

7.1. Introduction

7.2. Food-Grade

7.2.1. Pet Treats

7.2.2. Soft Chews

7.2.3. Others

7.3. Therapeutic-Grade

7.3.1. Pet Supplements

7.3.2. Pet CBD Oils

7.4. Personal Care

8. GLOBAL VETERINARY CBD MARKET, BY DISTRIBUTION CHANNEL

8.1. Introduction

8.2. E-Commerce Websites

8.3. Retail Pharmacies

8.4. Veterinary Clinics

8.5. Others

9. GLOBAL VETERINARY CBDMARKET, BY REGION

9.1. Introduction

9.2. Americas

9.2.1. North America

9.2.1.1. US

9.2.1.2. Canada

9.2.2. Latin America

9.3. Europe

9.3.1. Western Europe

9.3.1.1. Germany

9.3.1.2. France

9.3.1.3. UK

9.3.1.4. Italy

9.3.1.5. Spain

9.3.1.6. Rest of Western Europe

9.3.2. Eastern Europe

9.4. Asia-Pacific

9.4.1. China

9.4.2. India

9.4.3. Japan

9.4.4. Australia

9.4.5. South Korea

9.4.6. Rest of Asia-Pacific

9.5. Middle East & Africa

9.5.1. Middle East

9.5.2. Africa

10. COMPETITIVE LANDSCAPE

10.1. Introduction

10.2. Competitive Analysis

11. COMPANY PROFILES

11.1. Honest Paws

11.1.1. Company Overview

11.1.2. Financial Overview

11.1.3. Products Offering

11.1.4. Key Developments

11.1.5. SWOT Analysis

11.1.6. Key Strategy

11.2. HolistaPet

11.2.1. Company Overview

11.2.2. Financial Overview

11.2.3. Products Offering

11.2.4. Key Developments

11.2.5. SWOT Analysis

11.2.6. Key Strategy

11.3. HempMy Pet

11.3.1. Company Overview

11.3.2. Financial Overview

11.3.3. Products Offering

11.3.4. Key Developments

11.3.5. SWOT Analysis

11.3.6. Key Strategy

11.4. Canna-Pet

11.4.1. Company Overview

11.4.2. Financial Overview

11.4.3. Products Offering

11.4.4. Key Developments

11.4.5. SWOT Analysis

11.4.6. Key Strategy

11.5. Joy Organics

11.5.1. Company Overview

11.5.2. Financial Overview

11.5.3. Products Offering

11.5.4. Key Developments

11.5.5. SWOT Analysis

11.5.6. Key Strategy

11.6. Fomo Bones

11.6.1. Company Overview

11.6.2. Financial Overview

11.6.3. Products Offering

11.6.4. Key Developments

11.6.5. SWOT Analysis

11.6.6. Key Strategy

11.7. Pet Releaf

11.7.1. Company Overview

11.7.2. Financial Overview

11.7.3. Products Offering

11.7.4. Key Developments

11.7.5. SWOT Analysis

11.7.6. Key Strategy

11.8. Green Roads of Florida, LLC

11.8.1. Company Overview

11.8.2. Financial Overview

11.8.3. Products Offering

11.8.4. Key Developments

11.8.5. SWOT Analysis

11.8.6. Key Strategy

11.9. Wet Noses

11.9.1. Company Overview

11.9.2. Financial Overview

11.9.3. Products Offering

11.9.4. Key Developments

11.9.5. SWOT Analysis

11.9.6. Key Strategy

11.10. Others

12. APPENDIX

12.1.1. Discussion Blue Print

NOTE:

This table of contents is tentative and subject to change as the research progresses.

-In section 11, only the top companies will be profiled. Each company will be profiled based on the market overview, financials, product portfolio, business strategies, and recent development parameters.

-Please note: The financial details of companies cannot be provided if the information is not available in the public domain and/or from reliable sources.



This table of content is tentative and subject to change as the research progresses.

Please Note:  Financial details of company cannot be provided if the information of the company is not available in public domain and or reliable source.