Increasing acceptance of CBD oils for pets that provides them relief from various medical conditions is one of the strongest drivers for the global CBD pet market. Another key driver for the development of the global CBD pet market is the rising popularity of CBD or cannabis as pet supplement, most commonly indicated for cats and dogs. Products in the global CBD pet market are well known for their pain relief, anti-inflammatory, and anti-anxiety benefits. Another major health benefit associated with the products in global CBD pet market is promotion of joints and bone health in various pets.
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Some of the major players within the global CBD pet market include Petco, Wet Noses, HolistaPet, Fomo Bones, Honest Paws, Charlotte’s Web, CBD Living, Joy Organics, and Pet Relief, among others. Players in the global CBD pet market are constantly working towards improving the safety of their products. Several of these players are working towards reducing the percentage of THC, the main psychoactive component in cannabis, in their CBD based products. THC component has been found to have intoxicating effects in both humans as well as animals. Hence, various players in the global CBD pet market are developing CBD oils with little to no THC content.
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North America region has witnessed excellent growth in the global CBD pet market in past few years owing to rising level of awareness regarding the benefits of using CBD oil among pet owners in the region. Rising number of regional universities are also carrying out research initiatives to evaluate the impact of products in the global CBD pet market for the treatment of epilepsy in dogs. Moreover, rising number of pets, coupled with increased spending on pets and pet health products is expected to create wholesome new opportunities for the players in the global CBD pet market in Asia Pacific in coming years.