Rockville, MD–Sales of pet supplements have increased steadily since 2014, with 2018 )(the strongest year of the current five-year period) registering 5% growth in U.S. retail sales, according to the report Pet Supplements in the U.S., 7th Edition from Packaged Facts.
Factors driving growth include the improved economy, the strong focus on pet health and wellness and the growing impact of people who view pets as family members, according to a press release from Packaged Facts. Additionally, the market research firm predicts that present and future growth hinges on greater acceptance of CBD pet supplements. “Through the years, the pet supplements market has benefited from the popularization and cross-over of various ingredients from the human side, such as glucosamine and omega fatty acids,” says David Sprinkle, research director for Packaged Facts. “Looking back, however, it’s hard to recall anything making more of a splash in both human and pet supplements than CBD.”
Among the findings of Packaged Facts consumer survey data:
- 39% of dog owners and 34% of cat owners like the idea of CBD supplements for their pets.
- 29% of dog and cat owners agree that they would be interested in purchasing CBD supplements for their pets if they were legal.