CBD for pets: some facts and figures
A younger generation of US pet parents is attracted to this booming market, while investors and policymakers around the world are following the developments very closely.
The popularization of cannabidiol-based products for human use is reflected in their applications for pets – to treat health issues such as inflammation, seizures, pain or anxiety. So there is more demand, and more products are now available on the market. But in the scientific community, there are still divided opinions about their use.
The potential is there
Data from the US cannabis research firm Brightfield Group shows that the CBD pet product market generated sales worth $629 million last year, nearly 50% more than in 2020. And far from stopping, US sales are forecasted to reach $1.1 billion by the end of 2026 due to ongoing discussions about the potential benefits for pets as well as the industry’s product innovations.
Nielsen predicts that CBD pet products will represent 3-5% of all cannabidiol sales in the US by 2025.
Investors are interested too
A sign of the category’s momentum is the interest among investors from around the world.
Minneapolis-based Kradle, for example, which manufactures products with hemp-derived CBD to reduce anxiety in animals, recently closed a $4 million Series-A funding round. Pet wellness platform Antelope has acquired Diggin’ Your Dog, a supplier of CBD supplements, health products and treats. And cannabinoid consumer product group Tenacious Labs took over Rover’s Wellness, a pet care retailer from Tennessee specializing in THC-free CBD.
Human use leads to pet use
The conclusion of a survey conducted by Hodges Review, a commission assessing regulation and public policy relating to the UK’s legal cannabis industry, is that 6% of pet owners were giving or have given CBD products to their pets. ‘If this were applied across the population, it would suggest there is already widespread use of CBD by hundreds of thousands of UK pet owners,’ reads the report, based on responses from 1,500 individuals across the UK.
Those aged 18-24 are the most eager to buy CBD products for their pets (11%). And nearly 1 out of 10 respondents between 25 and 44 support CBD for pets. 23% of the respondents used human CBD or cannabis oil for medical reasons.
Brightfield Group findings indicate a ‘large overlap’ between pet and human CBD use. More than 7 out of 10 pet parents in the US use CBD products themselves too, according to recent data.
Mostly for dogs
In 2021, most of the CBD-related pet products (77%) purchased in the US were for dog consumption. Just over 2 out of 10 say they give the products to cats.
CBD products are usually for similar use for pets as for humans. According to Brightfield’s data from 2021, the main reasons given by owners for using these products for their pets are to help with anxiety and as a supplement for general well-being.
CBD proved effective to improve pet behavior for 84% of US owners. 14% found the product somewhat effective, and 2% found it slightly or not at all effective.
The power of veterinarians
Veterinarian advice seems to be an important decision factor for pet parents when purchasing CBD products for their pets. In the US in 2021, at least 70% of them talked to a vet about it – their concerns being about the safety of CBD, whether these products have been successful in treating pet conditions, and what dose to administer to the pet.
While there are restrictions in the US on how veterinarians can advise on CBD, 85% of pet CBD purchasers received an enthusiastic or somewhat enthusiastic response.
A 2019 study published in the Frontiers in Veterinary Science journal found that 84% of 1,194 veterinarians in the US disagreed or strongly disagreed with hemp and CBD products for animals remaining illegal at a federal level.
Lack of clear regulations
The absence of clear legislation is mainly due to the lack of scientific evidence on the actual benefits of CBD products for an animal’s well being.
The UK’s Veterinary Medicines Directorate (VMD) has prohibited these products from being prescribed by a licensed veterinarian.
The U.S. Food and Drug Administration (FDA) has not yet approved the use of CBD, or any other hemp- containing products, as drugs or food and feed supplements for animals.
In Canada, CBD pet care products are regulated through the Canadian Veterinary Medical Association (CVMA) and they are not widely available at retailers – only at vets’ practices. “They are technically only allowed to be sold through the veterinary channel, which makes the sales of CBD-specific products for pets very different in Canada to almost anywhere else in the world,” says Pet Valu CEO Richard Maltsbarger.
The Science Advisory Committee on Health Products Containing Cannabis – an external advisory body for Health Canada – recently called on the government to support studies that will ‘broadly look’ at CBD’s potential as a wellness aid while ensuring consumer safety. The committee also advised pet owners to consult a veterinarian prior to administering CBD to their pets. ‘Labels should state that the product should only be used if a veterinarian has diagnosed the animal’s condition and discussed risks and benefits with the owner,’ according to their advice.
The American Veterinary Medical Association (AVMA) also asked US officials some time ago to ‘engage’ in further research of cannabinoids and their application for pets.
Retailers’ views
Most CBD products for pets are sold online. According to Google, pet supplement manufacturer NaturVet is the top seller in the category on Amazon with monthly revenue of $1 million. Their data also shows that the top 5 product sellers on the popular e-commerce platform are almost all chews. The increase in consumer demand, especially through e-commerce, is an opportunity for traditional retailers too.
For the offline channel, things are a bit more difficult though, due to restrictions on the sale of products containing cannabis.
German company Fressnapf is currently not selling CBD products in their shops and does not plan to do so in the “foreseeable future” due to the uncertain legal situation. “In order for us to be able to offer such products, there would first have to be a clear legal classification of CBD,” says the company. The retailer is examining the possibilities for including CBD-related pet care products across their 1,700 stores by the end of 2023.
In the Nordics, demand for this type of product is still very small. But some big players like Musti, which operates in Sweden, Norway and Finland, are following market developments. “We are naturally looking into the trend, and how the market is developing, and will act according to customer need if we see a growing interest,” says a spokesperson.
