In September this year , a report by Grand View Research projected that the global CBD pet market would reach $ 399.2 million by 2027 , growing by over 40 % each year .
Increased available expenditure and concerns about the health of pets are driving the change , the report revealed , with the trend for natural products further fuelling the growth .
It will come as no surprise that lockdown life in 2020 has not just been hard on pet owners but their animals , too . Paw CBD sells a combination of veterinarian formulated tinctures , chews and topicals .
The pet brand reported a 64 % increase in net sales , from approximately $ 750,000 in their March quarter to approximately $ 1,229,000 for their June quarter .
What does the science say ?
A study by Colorado State University found that seizures in dogs were reduced by 89 % when treated with THC-free oil . Idiopathic epilepsy affects 5.7 % of the domesticated dog population worldwide , making it the most common canine neurological condition .
In this Colorado study , nine dogs were treated with CBD , while seven in a control group were treated with a placebo . Dr . Stephanie McGrath , author of the study said in a statement : “ We saw a correlation between how high the levels of CBD oil were in these dogs with how great the seizure reduction was .
“ It ’ s really exciting that perhaps we can start looking at CBD in the future as an alternative to existing anti-convulsive drugs .”
US vets are allowed to prescribe Epidiolex for canines but it is an expensive script at $ 30,000 a year for an average-sized dog .
FDA uncertainty
While CBD may possess certain potential health benefits , sellers making health claims about their products face the wrath of the FDA . The administration is in the process of issuing a draft enforcement policy , which could see the agency sending warning letters to companies marketing their products without authorization .
In late 2019 , the agency sent warning letters to 13 companies selling CBD products to pets , stating that the products violated the Federal Food , Drug , and Cosmetic Act ( FD & C Act ).
The claims addressed in previous warning letters relating to CBD products included :
• Works incredibly well for joint pain [ and aggression ] in pets ,
• CBD oil works great for pets [ with anxiety , hyperactivity , or PTSD ]
• Adding [ our CBD product can ] help fight infection and
inflammation .
While the industry needs to be cautious in how it markets CBD pet products , consumers should also be extra vigilant when shopping for their pets .
THC is toxic to dogs and cats and owners should always consult veterinarian advice before treating their animal in case the dose could interfere with their pet ’ s existing medication or condition .
The amount of CBD that should be given to animals will also vary depending on the size of the animal . Animals share the same endocannabinoid system as humans which plays a key role in managing several biological processes , like sleep , immune response and memory .
The CBD pet market shows a huge amount of promise . But companies capitalizing on the trend with problematic marketing had better hope that the FDA ’ s bark is worse than its bite .
The global pet CBD market will reach $ 399.2 MILLION by 2027
85