Cannabis, CBD, and Hemp: Pet Market Opportunities
White Paper
April 20th or “420,” the California-born grassroots day for celebration of marijuana culture, might never join the ranks of Valentine’s or Mother’s Day. Nonetheless, cannabis is speeding up the ramp into mainstream consumer health and wellness trends.
The CBD supplements market is fueled by both enthusiasm for natural supplements generally and the current spotlight on the medical and therapeutic benefits of cannabis. As is commonplace for human trends related to food, nutrition, and health, the use of CBD has readily crossed over into the pet market, particularly in the form of supplements or functional treats.
To date, pet owner interest in CBD centers on relieving anxiety and stress issues in pets—a rising concern especially among urban pet owners whose dogs share their indoors, space-restricted lifestyle. Among recent pet market trends, anxiety products have distinctively and successfully fanned out across food, medication, and non-food product segments.
Packaged Facts surveys from February through April 2019 show that pet owners are more likely than the population overall to support the legalization of marijuana, and to agree that both prescription and over-the-counter cannabis products with medical and therapeutic benefits should be legal. In fact, 11% of dog owners and 8% of cat owners have used cannabis supplements or treats for their pets.
As discussed in this Packaged Facts white paper, the evident potential in the pet marketplace and extensive trade efforts to secure regulatory guidelines mean that CBD products will not long remain niche.