A direct link between human food trends and market growth in the pet treat industry is evident, according to market research firm Packaged Facts. Their report, “Pet Treats and Chews in the U.S., 3rd Edition”, reveals that cannabidiol (CBD) has begun appearing in pet products the same way it’s appearing in human ones. Additionally, pet treat market growth is outpacing regular pet food and general pet supplies, growing from $6.5 billion in 2018 to a potential $6.7 billion by the end of 2019.
This interest in CBD pet products comes from a desire for “functional treats”. Pet owners see it as a way to address two issues at once, rewarding pets while helping treat health conditions. CBD helps relieve stress and anxiety issues in pets, but also has merit as pain management and even allergy control. Functional treats like this provide the consumer with better value for money than supplements or indulgent treats by themselves.
Part of the market growth can be attributed to media coverage and consumer interest in CBD supplements as a whole. A further survey of pet owners in 2019 revealed that 8% of cat owners and 11% of dog owners have used cannabis supplements (CBD or hemp) for their pets.
David Sprinkle, Packaged Facts research director, spoke about the trend, saying that, “The use of CBD has crossed over into the pet market, with usage spiking after the passage of the most recent Farm Bill in December 2018, which took a significant step towards separating hemp and hemp-derived CBD from marijuana-based products.”
