South Korea Cbd Pet Market Size & Outlook, 2023-2030
South Korea cbd pet market, 2018-2030 (US$M)
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South Korea cbd pet market highlights
- The South Korea cbd pet market generated a revenue of USD 1.6 million in 2023 and is expected to reach USD 14.2 million by 2030.
- The South Korea market is expected to grow at a CAGR of 37.1% from 2024 to 2030.
- In terms of segment, dogs was the largest revenue generating animal type in 2023.
- Cats is the most lucrative animal type segment registering the fastest growth during the forecast period.
Cbd pet market data book summary
| Market revenue in 2023 | USD 1.6 million |
| Market revenue in 2030 | USD 14.2 million |
| Growth rate | 37.1% (CAGR from 2023 to 2030) |
| Largest segment | Dogs |
| Fastest growing segment | Cats |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Dogs, Cats |
| Key market players worldwide | Petco Health and Wellness Co Inc Ordinary Shares - Class A, Charlottes Web Holdings Inc Ordinary Shares, Woolworths Group Ltd, SNDL Inc Ordinary Shares, Honest Paws, Canna-Pet, Green Roads, Pet Releaf, Holistapet, Joy Organics, Wet Noses, CBD Living, Hemp My Pet |
Other key industry trends
- In terms of revenue, South Korea accounted for 0.6% of the global cbd pet market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, Japan cbd pet market is projected to lead the regional market in terms of revenue in 2030.
- South Korea is the fastest growing regional market in Asia Pacific and is projected to reach USD 14.2 million by 2030.
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CBD Pet Market Scope
CBD Pet Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
South Korea cbd pet market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to cbd pet market will help companies and investors design strategic landscapes.
Dogs was the largest segment with a revenue share of 62.5% in 2023. Horizon Databook has segmented the South Korea cbd pet market based on dogs, cats covering the revenue growth of each sub-segment from 2018 to 2030.
The presence of significant players and the implementation of their strategies, such as geographic expansion as well as the introduction of new products, are fueling market expansion in the country. For instance, in May 2023, Charlotte's Web expanded its distribution network through a partnership with Phillips Pet Food & Supplies.
America's largest distributor in the pet specialty retail sector. This collaboration aimed to enhance access to Charlotte's Web's CBD pet products, including specialized formulations like calming aids and joint support chews, across over 6,000 retail locations nationwide.
Moreover, there is a growing acceptance of cannabidiol for pet care, medicinal, and wellness purposes. R&D initiatives carried out by CBD pet organizations, such as Honest Paws, Canna-Pet, Fomo Bones, and Wet Noses, further fuel market growth in the country.
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Our clientele includes a mix of cbd pet market companies, investment firms, advisory firms & academic institutions.
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Horizon Databook provides a detailed overview of country-level data and insights on the South Korea cbd pet market , including forecasts for subscribers. This country databook contains high-level insights into South Korea cbd pet market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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South Korea cbd pet market size, by animal type, 2018-2030 (US$M)
South Korea CBD Pet Market Outlook Share, 2023 & 2030 (US$M)
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