Hyderabad: The Indian pet market has transitioned into a hunting industry. India’s pet care segment is experiencing rapid growth, escalating annually by 13.9 per cent. At the PET Industry Leadership Conference held at Hitex, experts noted the adoption of 600,000 pets annually in India. This conference, featuring five sessions, coincided with the PETEX and Hyderabad Kids Fair at Hitex in Madhapur, drawing over 100 delegates from India and overseas.
As per the Indian Pet Industry Joint Advisory Council (IPICA), the pet industry in India is projected to grow at a CAGR of 20 per cent over the next five years, estimated to reach Rs. 20,000 crores by 2025 from its current value of around Rs. 8,000 crores.
Kashap Sanghani, Head of Marketing at Just Dogs, highlighted the transformation in the pet care retail landscape, mentioning the surge in innovative products over the past two decades. He also noted the rise in pet adoption numbers, from 28 million to 38 million in the last five years, expected to hit 45 million in the coming five years.
The pet industry, primarily dominated by the pet food market accounting for 65 per cent, is seeing exponential growth due to a rising number of pet parents seeking premium care for their furry companions. This trend, growing at over 20 per cent in the last decade, reflects a shift observed by Vishal, an industry veteran from Bangalore.
Factors driving this growth include increased earnings, a surge in post-COVID adoptions, and a societal shift where pets are considered akin to children, leading individuals to invest substantially in their well-being. Recognizing this, Hitex transformed PETEX into India’s largest B2B show, catering to various pet categories.
Despite the industry’s growth, a significant portion of pet dogs and cats are still fed homemade food, indicating a vast untapped market potential. Industry insiders predict a shift towards Direct-to-Consumer (D2C) models in the future, as observed by Ibadat Sharma, co-founder of Dog-O-Bow, foreseeing the Pet Industry’s future trajectory.
In the past 15 years, the evolution of pet grooming salons from mere importers of Chinese products to a thriving industry with locally manufactured goods signifies the market’s maturation.
Today, the pet market offers a plethora of amenities, including swimming pools, specialized diets, grooming services, and even dedicated transportation for pets, witnessing explosive growth, as noted by Biju Varghese, General Manager of TRASNFERET, a pet translocation service handling around 8500 pets over eight years.
Hyderabad, catching rapidly up with Mumbai and Delhi, is emerging as a prominent city in the pet care domain. Ms. Archana Naidu announced the upcoming establishment of a state-of-the-art multi-speciality pet clinic in Hyderabad, aiming to elevate the city as the Veterinary capital of India.
The Seven Oaks Pet Hospital, a part of North America’s trusted pet hospital chain, will pioneer several facilities, including an Animal Blood Bank, Electric Crematorium, and India’s first MRI for animals. Dr. Sree Reddy, the owner, has invested Rs. 20 crores in this venture, aspiring to be Hyderabad’s apex veterinary institution with a Fear Free Certification.
PETEX Expo, attracting 30,000 visitors annually, alongside 1000+ business attendees from across India, continues to expand each year, as shared by Srikanth TG.
Pet parents in India allocate between Rs. 5,000 to Rs. 15,000 per month per pet, mostly spent on food, medication, clothing, accessories, and toys. The lion’s share, ranging from 70 per cent to 75 per cent, is devoted to food and treats, while the remainder goes into accessories, grooming supplies, toys, and related services.
The surge in pet adoption isn’t confined to metropolitan areas; it has expanded to tier 2 and 3 cities, giving rise to 70 new pet care companies over the past two years.
