The Indian Pet Market is emerging into an Industry now

The Indian Pet Market is emerging into an Industry now

The Indian Pet Market

Hyderabad,26th December 2023 ….India’s pet care market is growing at 13.9% annually, making it one of the fastest-growing pet care markets in the world. Every year, 600,000 pets are adopted in India, said various experts who addressed the PET Industry Leadership Conference at Hitex. The two full-day knowledge Exchange conferences were organised on the sidelines of Twin Expos–PETEX and Hyderabad Kids Fair at Hitex in Madhapur. The conference was attended by well over 100 delegates from India and abroad. It had five sessions.

According to a recent report by the Indian Pet Industry Joint Advisory Council (IPICA), the pet industry in India is expected to grow at a CAGR of 20% over the next five years. The industry is estimated to be worth around Rs. 8,000 crores, and it is expected to reach Rs. 20,000 crores by 2025.

Speaking at a Panel discussion on Pet Speciality Retail Challenges, opportunities and latest trends Kashap Sanghani, Head of Marketing of Just Dogs, the diverse pet care retail chain said twenty years back there was no pet shop. There used to be only Veterinary Clinics. Now things have changed. The Pet Care market has opened to many innovative products.

The number of adopted Pets in India used to be about 28 million five years back has now reached to 38 million and the same number is likely to go up to 45 million in the next five years, he added.

The speakers who addressed various panels maintained that the entire pet industry is around Rs 8000 crore out of which, 65% is the pet food market in India.

The industry is growing because there is an increasing number of pet parents wanting to pamper their pet kids. Kunal Gupta, Co-Founder of Goofy Tails, a Pet Care Startup.

There are thousands of pet parents in the country who are shelling a lot of money to give the best care to their pet children, driving the growth of the category which has grown by over 20% in the last decade as per the Indian Pet Industry Joint Advisory Council (IPICA), observed Vishal, an industry veteran from Bangalore.

What’s driving the growth, there are many things. The standards of earning have gone up. Post covid the adoption has skyrocketed. Presently, pets are considered equal to a child or a replacement for children. So, many individuals are willing to pay for their care. Recognising this, Hitex transformed PETEX, six editions old, India’s largest Pet Expo for Dogs, Cats, Birds, Fish and Exotic Pets, into a B2B show.

Only 6% of pet dogs are fed with pet food and the rest only feed homemade food. Only 2% of cats are fed with pet food rest are fed with home-cooked food. This indicates that there is a huge market potential. The future of the Pet Industry will be D2C (Direct to consumers) observed Ibadat Sharma, Co-founder, of Dog-O-Bow, the homegrown, pet accessories and luxury clothing brand.

15 years ago there were hardly any pet grooming salons. All they used to do was to import some products from China. Now there are many pet grooming salons. All the products are being manufactured in India.

Today Pets have a swimming pool, special diet, dog trainers, dog sitters, Dog Resorts, Dog Grooming Salons, Nobile treatment vans, Pet Food, and specialist transport agents who transport your pets. And the market is exploding. According to Biju Varghese, General Manager of Mobility of TRASNFERET. We translocate pets from one place to another. We must have done nearly 8500 pets in the past eight years he said.

Hyderabad is also catching up with Mumbai and Delhi in pet care. Bengaluru and Mumbai are the most pet-friendly cities in India.

Ms Archana Naidu – Managing Partner, Seven Oaks Pet Hospital informed that they were coming up with a state-of-the-art multi-speciality pet clinic in Hyderabad. It will be ready to open in the first quarter of next year. It will be the largest, 20,000 ft, commercially owned clinic coming up in Jubilee Hills on Road No 44. It is being set up with a vision to make Hyderabad the Veterinary Capital of India. It is being set up by Dr Shree Reddy and Dr Sandhya Reddy, celebrated veterinarians from the USA. It will have many firsts such as Animal Blood Bank, Electric Crematorium, and MRI for animals (first in India). Seven Oaks Pet Hospital would like to be Apollo for Veterinary Care and Medicine in the city. It has the first Fear Free Certification. Fear Free Certification is a new concept in veterinary medicine which aims to recognise and reduce fear, anxiety and stress associated with visits to the veterinary hospital.

Seven Oaks Pet Hospital, which is part of North America’s most trusted Pet Hospital chain is owned by Dr Sree Reddy said to have invested Rs 20 crore in setting up this hospital.

The PETEX Expo, which is an annual affair draws about 30,000 people visiting, besides 1000 plus business visitors from across India. It is growing year by year informed Srikanth TG.

The average spends per month per pet ranges from Rs 5,000 – Rs 15,000/-. They spend on food, medication, clothing & accessories and toys. The spend may vary depending on pet size, age, breed and the city. 70% and 75% of the budget is spent on food and treats, while the rest is spent on accessories, grooming supplies, toys, and services. The Indian pet care market in India is expected to continue its robust growth trajectory.

The increased pet adoption is not only in major cities. It has also expanded to tier 2 and 3 cities. This has led to the emergence of 70 new pet care companies over the past two years.