According to the research report titled ‘Global CBD Pet Products Market Size study, by Type (Food Grade, Therapeutic Grade) by Distribution Channel (Online Retail Channel, Retail Pharmacies, Veterinary Clinics, Others) and Regional Forecasts 2021-2027’, available with MarketStudyReport, global CBD pet products market is anticipated to witness robust growth through 2027.
 

Growing popularity of organic products among pet owners, shifting preferences towards natural pet supplements are the major growth inducing factors for global CBD pet products market.
 

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For the unversed, cannabidiol, also known as CBD, is a nonpsychoactive component of the cannabis plant. Not only for humans, but also for animals, CBD has relaxing and pain-relieving qualities. CBD has been shown to provide soothing effects, enhance appetite, reduce seizure frequency, and inhibit tumor growth in cats and dogs.
 

Moreover, the relaxation of government prohibitions on hemp and cannabis has also fueled the industry expansion. Nonetheless, with rising expenditures in the development of novel CBD pet products and increasing knowledge about the benefits of CBD for pets, the industry is expected to grow at a rapid pace over the forecast period.
 

However, the stigma surrounding hemp, and the uncertainty between CBD and THC could stifle market growth during 2021-2027.
 

Based on type terrain, worldwide CBD pet products market is divided into therapeutic grade, and food grade. In terms of distribution channel, the industry is branched into veterinary clinics, retail pharmacies, online retail channel, and others.
 

Regionally speaking, North America industry accounts for a notable valuation at present and is slated to grow at a substantial pace during 2021-2027, owing to large pet owner population, an expanding trend of pet humanization, legal clarity for hemp and CBD, significant investment in CBD research, and increasing pet culture.
 

Petco Health and Wellness Company, Inc., PETstock, CBD Living, Wet Noses, Joy Organics, HolistaPet, Pet Releaf, FOMO Bones, Canna-Pet, and Honest Paws are the major players influencing the worldwide CBD pet products industry trends. These behemoths are undertaking strategies like mergers & acquisitions, collaborations & partnerships, and innovative launches to strengthen their position in the market.