If you carefully follow the CBD industry, you’ll notice that there is always a new use every year. CBD oil was initially used to help aid improving overall health and bodily balance in humans, such as found on WhatIsCBDOil, a CBD oil website that elaborates on how CBD works and what products are available to use ingested or as a topical cream. However, with more and more studies crossing the cannabis market, other uses in humans and animals are being introduced.
Recently, CBD oil was discovered to have similar effects on pets, including dogs and cats, which is a reason why it has crossed over to the pet market. It is estimated to have a net worth of about $6.7 billion by the end of 2019. So if you are a pet owner or a veterinarian, you better watch this or read the article at House of Coco.
The manufacturers of CBD oil are continually improving their tactics to meet the growing demand of pet owners. A mistake is factoring in because some of the veterinarians are assuming this is a trend that has no market position. The fact is that there’s something veterinarians have to watch out for because CBD is expected to change the pet industry drastically.
So why is CBD making it in the pet industry?
There are several reasons why we expect CBD use in the pet market to grow in the following years. The first reason being there’s an increasing desire by pet owners to feed their pets natural and nutrient dense treats. This might again translate to higher growth rates in the coming years past 2019, where experts expect the market to grow by about 3.1%.
The other reason for the growth of CBD use in the pet market is the increasing awareness about the CBD benefits in the overall health of a pet. Pet owners are becoming more aware of all the medical benefits of CBD oils. In fact, dog CBD oil can aid some health issues in dogs. Additionally, CBD oil for pets can aid in recovery with mobility issues, skin irritation, and inflammation.
A 2019 survey revealed that 39% of dog owners and another 34% of both dog and cat owners show their individual interests in switching for alternative CBD benefits for their pets. The same study also indicates that these numbers of pet owners would want to purchase CBD pet supplements. Another 8% of cat owners and 11% of dog owners have already given their pets CBD supplements.
This reveals that an increasing number of people are giving their pets CBD supplements. Although there’s limited data that CBD can help your dogs and cats, many pet owners swear by it and its benefits. Additional facts show that the world’s largest CBD customers are not even humans.
Dogs and cat owners are increasingly using CBD products for pets because they have positive impacts on mild illnesses. It’s actually a non-intoxicating cannabis compound that has proven to benefit both people and animals. Their owners have and will continue to choose these products to aid in mild pain and in cats.
Veterinarians are recommending CBD oils
The other reason why we expect this industry to grow is that veterinarians have come to understand the benefits of CBD for pets, and for this reason, they are likely to recommend it for their patients. Although there are no studies giving information for 100% reliability of CBD for pets, those that have tried it are sure it relieves pain and will do the same to other animals, including pets.
Lucrative Market
CBD for pets and humans is one of the hotly discussed products in the market as of now. People are adding this oil to almost everything from tea, food, and even applied to the skin for additional skin protection. On the other hand, people love their pets and want to splurge on their pets. Statistics show that in 2018, Americans only spent about $33 billion on pet treats, food, and medicine. Though, the food and drug administration for pets hasn’t used any products for people on animals, a reason why people should be cautious.
