India’s pet care market likely to reach Rs 20k cr by 2025
The segment growing at 13.9 per cent annually as India witnessing an unprecedented surge in pet care and clinics
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India's pet care market is growing at 13.9 per cent 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 in Hyderabad. The two full-day knowledge exchange conferences were organised on the sidelines of Twin Expos-Petex and Hyderabad Kids Fair in Hyderabad. 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 per cent 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 8,000 crore out of which, 65 per cent 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, said 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 per cent in the last decade as per the Indian Pet Industry Joint Advisory Council (IPICA), observed Vishal, an industry veteran from Bangalore.
