CBD Pet Products: Global Industry Insights and Opportunities 2022-2027 – Changing Consumer Preferences Towards Organic Healthcare Pet Products – ResearchAndMarkets.com

CBD Pet Products: Global Industry Insights and Opportunities 2022-2027 – Changing Consumer Preferences Towards Organic Healthcare Pet Products – ResearchAndMarkets.com
CANNANNEW REPORT

DUBLIN–(BUSINESS WIRE)–The “CBD Pet Products Market – Growth, Trends, COVID-19 Impact, and Forecasts (2022-2027)” report has been added to ResearchAndMarkets.com’s offering. The global CBD pet products market is anticipated to witness a CAGR of 12% during the forecast period 2022-2027. During the COVID-19 pandemic, the market studied did not experience any negative consequences. Instead, the sales increased. As there were no new entrants during the pandemic, the existing players enjoyed the oligopoly from the growing demand for CBD pet products. The sales were spiked due to the availability of the products on e-commerce platforms, which made it easier for pet owners to access and have products delivered to their doorsteps during the pandemic-induced lockdowns. CBD pet supplements are primarily fuelled by the increasing consumer awareness of natural supplements and the current spotlight on the medical and therapeutic benefits of cannabis. The unfavorable and stringent government regulations in several developing countries due to social constraints have affected the demand for CBD pet products since cannabis is considered unhealthy for pets. This can be attributed to the lack of awareness among pet owners as well. The lack of accessibility in several areas and the high costs associated with these products further reduce the demand for CBD pet products. While traditional dog or cat products currently dominate the market, those targeted for equine and other domesticated animals are on the horizon. As pet and animal products are focused on treats, supplements, and food additives, therapeutic CBD with anti-anxiety and anti-inflammation properties is expected to remain the top-selling product. North America dominates the market. CBD pet supplements are primarily fueled by increasing consumer awareness about natural supplements and the current spotlight on the medical and therapeutic benefits of cannabis. Additionally, the rise in the adoption of pets and increasing demand for premium care products…

Excerpt only …
READ MORE BELOW
Source : CBD Pet Products: Global Industry Insights and Opportunities 2022-2027 – Changing Consumer Preferences Towards Organic Healthcare Pet Products – ResearchAndMarkets.com

reposted by Cannabis News World

This site uses Akismet to reduce spam. Learn how your comment data is processed.