Cannabis CBD Pets

New Report Reveals Huge Market For CBD Pet Products

The booming CBD market has spawned a very interesting subset within its category—pet products. Recently, Nielsen, the well-known measurement company and Headset, a provider of data and analytics for the legal cannabis industry, unveiled a new report that shows there’s a huge market opportunity for CBD pet products. Among its most telling projection—hemp-based CBD products will make up 3 to 5% of all hemp CBD sales within the U.S. by 2025.

Other findings include:

*74% of CBD buyers have pets.

*Pet products have racked up over $9.4 million in sales at regulated adult-use cannabis retailers in California, Colorado, Nevada and Washington combined. This covers the period from the first quarter of 2018 through the third quarter of 2019.

*The average price per pound for CBD dog treats is twice the average dog treat.

*To date, 24% of pet owners use hemp-CBD either for themselves, their pet(s), or for both.

To Read The Rest Of This Article By Iris Dorbian on Forbes

Published: February 18, 2020

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