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The changing attitude of people towards humanizing pets as part of the family has led to a multifold increase in pet ownership in India. The restricted Pandemic lifestyle has increased a lot of mental health issues like depression and anxiety in India which has led to adopting pets as a pacifier to deal with isolation and loneliness. Pets have been adopted as a family members across all segments of society in India for a sense of purpose, unconditional companionship, and emotional support which is leading to massive growth in the demand for pet food, pet grooming, pet pharmaceuticals, etc.
Pet owners in India belong primarily to upper or upper-middle-class families. With rising health and wellness awareness, pet parents are now more conscious of the kind of products they buy and are increasingly looking for premium and natural offerings for their pets. Pet industry growth in India is recorded in all categories including pet food, pharmaceuticals, grooming, toys, and accessories. The Petcare market in India is expected to grow at 14% annually to become a $490 million (₹33000 million) market by 2022.
To capitalize on the fast-growing market, pet food manufacturers are offering premium products that are GMO-free, gluten-free and rich in vitamins and minerals, with increased health benefits like probiotics in a dry formula to help maintain digestive health, dog food with Omega 3 and 6 fatty acids for healthy skin, glucosamine for healthy joints and strong bones, etc. The Petfood market alone is projected to cross $310 million (₹20000 million) by 2022. The dog food segment is expected to continue its dominance as the largest revenue generator followed by cat and fish food segments.
Many pets do have a history of serious diseases including cancer. These diseases are caused due to vitamin or nutrient deficiency in the body. Hence, it is a basic necessity for pet medicines and supplements for the overall growth and well-being of pets.
The leading brands of the pet healthcare products like Pedigree stores and Pets 101 stores have been growing rapidly during the lockdown as people have started paying more attention to their pets and the brands are taking advantage of online stores to help their customers better. The leading brands now deliver the products directly to your doorstep with free delivery. The spike in business has encouraged players to invest in upgrading their products, services and experiences across channels and we are going to see a consistent growth rate in the pet industry for a long time in India.
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