In 2018, the CBD market was estimated to be worth $4.6 billion. By 2025, it is expected to be valued at approximately $9.69 billion. It’s safe to say this industry has been growing and will continue to grow in popularity.
It has been found that not only do adults feel like they benefit from taking CBD, but they also believe that it helps their pets, particularly dogs. Thus, the pet CBD oil market has been growing right alongside the human industry.
When it comes to CBD for pets statistics, in 2017, pet owners spent $8 million on CBD products. In 2019, sales had grown to $32 million in pet CBD product sales.
It has been found that 74% of people who buy CBD for themselves also have pets. Approximately 24% of those pet owners say that they use the CBD for themselves, give CBD to their pets or do both. It is believed by 2025, 3 to 5% of all CBD sales within the U.S. with be for CBD products for pets.
One of the reasons the use of CBD for pets may have grown recently is because it is believed it can treat anxiety. Studies are still ongoing, so there is very little scientific evidence to back up this claim. However, for humans who use this product and give it to their pets, they swear by the results.
Since many dogs suffer from separation anxiety and fear of loud noises, many pet owners want to do what they can to help them feel better. Thus, they have tried and found that CBD gives them the results there are looking for.
CBD for pets comes in many forms, including treats and tinctures. Until more studies are conducted, whether or not CBD truly works to reduce anxiety and for other ailments will only be hearsay. Although, many pet owners swear by it and will continue to give their furry friends CBD for their health and wellbeing.
