SAN FRANCISCO, Sept. 16, 2020
SAN FRANCISCO, Sept. 16, 2020 /PRNewswire/ -- The global CBD pet market size is expected to reach USD 399.2 million by 2027, expanding at a CAGR of 40.3%, according to a new report by Grand View Research, Inc. increasing health expenditure and growing health concern among the owners of domesticated animals are driving the market. In addition, increasing demand for Cannabidiol (CBD) infused food products is boosting the market growth. Furthermore, increased usage of natural supplements in treating various lifestyle-related disorders in the domesticated animals is fueling the growth.
Key suggestions from the report:
Read 130 page research report with ToC on "CBD Pet Market Size, Share & Trends Analysis Report By Product (Therapeutic Grade, Food Grade), By Application (Joint Pain, Anxiety), By End-use, By Region (North America, Europe, APAC, Latin America, MEA), And Segment Forecasts, 2020 - 2027'' at: https://www.grandviewresearch.com/industry-analysis/cannabidiol-pet-market
The cannabidiol infused product is also found useful in cancer-related pain in animals. Rising adoption of domesticated animals and their increased health expenditure are further anticipated to put market growth on the expedited platform in the coming few years. For instance, according to the National Pet Owners Survey carried out by the American Pet Products Association (APPA), around 67.0% of the U.S. households own a domesticated animal that constitutes 85.0 million families in the country as of 2019.
Grand View Research has segmented the global CBD pet market on the basis of product, application, end-use, and region:
List of Key Players of CBD Pet Market
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About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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