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Almost 3/4 of CBD buyers have pets: What this could mean for hemp markets


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Whether it’s turtles, dogs, guinea pigs or cats, hemp lovers also seem to be animal lovers.


According to recent study by Nielsen, roughly three-quarters of cannabidiol, or CBD, customers in the U.S. are pet owners. In a market where many products are aimed at ameliorating pet woes, it makes sense that some of these sales are specifically for Fido, too.


“Understanding the dynamics at play in the cannabis space and their impact on the pet industry is critical,” said Maria Lange, Vice President of Strategic Initiatives at Nielsen, according to Yahoo! Finance. [2]


According to the London Free Press, sales of CBD products reached almost $10 million from the first quarter of 2018 to Q3 of 2019 in just California, Colorado, Nevada and Washington. [1]


“Despite open questions around regulations, hemp-CBD is exploding in the pet space,” Lange said. “With Nielsen's and Headset's Pet Industry Green Paper, companies will gain a better understanding of the nuanced cannabis sector, its buyers, marketed packaging claims and the rapidly evolving product landscape to capitalize on emerging trends and opportunities.” [2]


The London Free Press reports that nearly 1/4 of all pet owners in the U.S. are already consumers of CBD. [1]


CBD products are popular for a number of uses, including anxiety, chronic pain, insomnia and forms of epilepsy. Scientific studies have yet to solidly confirm these benefits, but testimonials from satisfied customers and some preliminary studies show promise.


So far as pets are concerned, tons of pet owners have sought out CBD products for many similar problems. Pets also face pain and anxiety problems, and dogs are notorious for skittishness during thunderstorms and fireworks displays.


Like humans, every pet is different, so it can be hard to set hard and fast rules on which products and treats are best for a given pet. In most cases, the best idea will be to start at low doses and ease up until one sees the desired results.


There are, of course, trade offs for CBD pet choices. On average they cost about twice as much as an ordinary pet treat, according to Yahoo! Finance. [2]


“It’s no surprise that cannabis and CBD are becoming a popular way to treat pets naturally, driving another exciting market category for cannabis while energizing the pet industry,” Cy Scott, founder and CEO of cannabis industry data company Headset, told the London Free Press. [1]


Sources

[1] https://lfpress.com/cannabis-news/animal-planet-almost-three-quarters-of-cbd-buyers-in-u-s-have-pets/wcm/fd5a5096-6750-4fdb-a417-f1caf386dca9

[2] https://finance.yahoo.com/news/data-nielsen-headset-reveals-74-140000120.html

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