The Rise of Cannabis Treatments for Pets
For millennia, people have shared their lives with domestic animals – and pets have since become a fixture in urban life.
The global pet industry is growing fast, driven by pet owners who increasingly treat their furry companions like family, including applying the same lifestyle choices.
Today’s infographic from True Leaf looks at why over half of pet owners are exploring natural treatments like cannabis for their pets.
Breaking down the Pet-onomics
The pet care market is thriving worldwide, and expected to be worth over $202 billion in a few short years. Some of this can be credited to cultural shifts across Asia, where owning pets is a sign of affluence and a result of higher disposable income.
Closer to home, self-proclaimed pet “parents” are a main source of spending.
- 85 million households in the U.S. own a pet, or two out of three families.
- Millennials and baby boomers are increasingly “humanizing” their pets.
As the largest generations of pet owners, they only want the best for their companions, and are increasingly focused on their pets’ health and wellness.
| Pet Industry Expenditures | 2017 | 2018 |
|---|---|---|
| Food | $29.1B | $30.3B |
| Supplies/ OTC Medicine | $15.1B | $16.0B |
| Vet Care | $17.1B | $18.1B |
| Other* | $8.3B | $8.1B |
| Total sales | $69.5B | $72.5B |
*Live animal purchases and pet services. Values have been rounded up to one decimal place. (Source: American Pet Products Association)
To that end, millennials and baby boomers are also showing more interest in natural treatments such as cannabis for pets – which are also becoming more mainstream in their own lives.
Why Cannabis for Pets?
Natural therapies such as CBD- and hemp-based products are a rising trend in pet care.
To understand why pet owners are seeking cannabis-derived products, it’s important to understand its components: two sub-species of plants, hemp and marijuana.
Hemp is mainly used for industrial and nutritional purposes, and contains less than 0.3% THC. On the other hand, marijuana’s primary uses are medical and recreational, with between 5-20% THC.
Both plants contain CBD, which is popular for its therapeutic properties. But since hemp contains barely any THC, products made from it can heal without the “high”.
Hemp seeds are a popular superfood – packed with proteins, healthy fats, and vitamins with a myriad of health benefits for humans and pets alike:
- Manages arthritis
- Weight management
- Cancer prevention
- Manages inflammation
- Boosts skin and heart health
It’s no wonder that hemp-derived pet supplies are on the rise in legal markets.
Navigating A Shifting Landscape
Since the passing of the 2018 Farm Bill, CBD in hemp became legal in the United States. Meanwhile, CBD in marijuana is still under investigation by the FDA, for its potential applications in food and beverages – and the process is fast moving.
CBD-pet supplements are sold in the market, but as the segment is still unregulated, this lack of control can influence the consistency and quality of products that are available. To ensure safe cannabis treatments for pets, it’s important to pay attention to the current laws.
The global cannabis for pets industry is taking off. Few companies are able to comply with this complex legality – but those that can navigate it will emerge as the top dog.
