Pharma Consultant | Solution Provider
August 11, 2024
The pet and companion animal market in India has seen remarkable growth in recent years. This burgeoning sector is driven by several key factors:
- Increasing Pet Ownership: With rising disposable incomes and urbanization, more Indian households are adopting pets. Cats and dogs are the most popular choices, with increasing interest in exotic pets as well.
- Changing Attitudes: The perception of pets has shifted from mere household animals to beloved family members. This change has fueled demand for premium pet products and services.
- Health and Wellness: Pet owners are becoming more conscious of their pets’ health and well-being. This has led to a surge in demand for high-quality pet food, supplements, and veterinary care.
- Pet Services: The market for pet grooming, boarding, training, and pet-sitting services is expanding rapidly. These services cater to the busy lifestyles of pet owners, ensuring their pets are well cared for in their absence.
- E-commerce Boom: The rise of e-commerce platforms has made it easier for pet owners to access a wide range of pet products and services. Online stores offer convenience, variety, and competitive pricing.
- Awareness and Education: Increased awareness about responsible pet ownership and animal welfare is encouraging people to adopt pets and invest in their care. NGOs and animal welfare organizations are playing a crucial role in this shift.
- Innovation: The market is witnessing innovation in pet products, including smart pet gadgets, customized diets, and eco-friendly accessories. These innovations cater to the evolving needs and preferences of modern pet owners.
- Social Media Influence: Social media platforms have created a community of pet lovers who share their experiences and recommendations. Influencers and pet bloggers are contributing to the growing interest in pet care and products.
- Pet-Friendly Policies: More public spaces, housing societies, and workplaces are adopting pet-friendly policies, making it easier for people to integrate pets into their lives.
India has a significant and growing pet population. As of 2024, there are approximately 30 million pet dogs in India, with projections indicating this number could rise to 43 million by 2026. The pet cat population is also notable, with around 2.44 million domestic cats in the country. This number is expected to increase to nearly 5 million by 2026.
The pet care market in India has been growing at an annual rate of around 22% since 2020. This growth is fueled by rising disposable incomes, greater awareness about pet health and nutrition, and an increasing willingness to spend on pets. The market size was valued at INR 74,000 crores ($8.9 billion) and is expected to continue expanding rapidly.
The Growing Pet and Companion Animal Market in India 🐾 | LinkedIn
