Growel Group enters pet food industry
Plans to invest Rs 80 – 100 crore over seven years for manufacturing, marketing and capacity building for its pet food and treat brand, Fullr and DatGud
City-based Growel Group, an aquaculture feeds, formulation and seafood processing company on Monday announced its foray into the rapidly growing pet food industry with the launch of pet treat brands – Fullr and DatGud. In the next six weeks, the company will be launching a range of pet food. For the pet treat and food business, Growel Group will be investing Rs 80 to 100 crore over five to seven years.
The Indian pet food market is projected to cross $1 billion by 2027. The pet treats segment will continue to drive the industry growth, reaching about Rs 1,900 – Rs 2,000 crore by 2027 from the current Rs 650 crore.
M S R Karthik, Promoter Group, Growel, said: “The Indian pet industry is experiencing phenomenal growth, driven by a surge in pet ownership, and rising disposable incomes. With dog ownership becoming increasingly popular, the market for dog treats is also experiencing substantial growth. It is anticipated that by 2027, dog treats will comprise about 35 per cent of this market, indicating their significance in meeting the needs and preferences of pet owners.”
J S Rama Krishna, Business Head, Pet Food, Growel Group, said: “With the launch of Fullr and DatGud, we are aiming to address a gap in the market that focuses not only on providing nourishment but also on cost-effectiveness.”
He further informed that Fullr and DatGud will be available across 1,800 to 2,000 outlets spread across 185 to 300 cities. The products are priced at Rs 199 for 700 gm and Rs 99 for 200 gm.
