Total U.S. pet market sales have increased every single year over the past decade, growing from $51 billion in 2011 to an estimated $110 billion in 2021. The market doubled in that time period and has no signs of slowing down. Today, pet supplements are leading that growth within the pet industry.
The pet supplements industry will reach $1 billion in sales by 2027, according to new research from Grand View Research. Pet supplements like vitamins, probiotics and certain oils are gaining in popularity. However, CBD is the fastest growing. Look at this Google Trend graph of searches for CBD for dogs.
Pets and Parents Want Something Better
A study published in the journal Food Science and Technology last year tested the eating habits of people with and without dogs. Researchers found that people who have dogs are more likely to eat a variety of plant-based foods than are those without dogs. Moreover, the study found that people with dogs tend to eat more “vegetables” than the non-dog owners.
Many pet owners are hesitant about giving their furry friends human-grade CBD products. Many companies, like Hemp Well offer less potent CBD products made just for pets. Products like soft chews (treats), oils, capsules and lotions.
Additionally, new research from Baylor College of Medicine showed that CBD oil can help with canine osteoarthritis, a disorder effecting 20% of dogs more than a year old.
2022 and beyond will continue to see more pet product sales with supplements continuing to lead the pack.
