Cbd Pet Food Market

Klein says it is essential to note that in most cases cbd does not contain delta 9 tetrahydrocannabinol thc the compound that gives marijuana its psychoactive properties.

Cbd pet food market. In the brand new report pet treats and chews in the u s 3rd edition market research firm packaged facts estimates u s. Retail sales of pet treats will reach 6 7 billion by the end of 2019 up from 6 5 billion last year. A report focused solely on the cbd pet market says. A detailed geographical analysis covering more than 16 countries are also included.

According to recent reporting pet industry spending is expected to reach 96 billion by 2020 with cbd as one of its fastest growing sections. Alone by 2023 with about 7 of sales coming from the pet market according to brightfield group an industry researcher. The global cbd pet products market is segmented by type into food grade and therapeutic grade by distribution channel into online retail channel retail pharmacies veterinary clinics and others. The market for products that contain cbd a non psychoactive component of the cannabis plant used to treat a variety of health conditions received a jolt from the 2018 farm bill which removed hemp cannabis with extremely low concentrations of the high inducing compound thc from the federal controlled substances act.

Cbd or cannabidiol is a compound found in cannabis and hemp. Consumers are interested in cbd for pet health particularly for relief of joint pain. Pet food giant purina owned by nestlé is now considering making cbd dog food while small pet cbd brands are expected to be taken over by companies such as mars inc nestlé general mills inc. While there are many hemp cbd pet products on the u s.

Sales growth of pet treats continues to outpace growth of the more mature pet food market and growth of pet supplies in general. Cbd products would require dedicated production and packaging lines which presents an opportunity for oems to capitalize on the growth in equipment demand whenever cbd adoption becomes mainstream. Nutro grain free food features spot coated graphics. The cbd market could be worth almost 24 billion in the u s.

Pet and animal product sales are estimated to reach usd 125 million by 2022 representing a 5 year cagr of 57 among the fastest growing sectors in the cbd market and it s easy to see why cannabis companies are pouncing on the opportunity.