With estimated 28 million pets, and more than 600,000 pets being adopted every year, India shows huge potential as one of the fastest growing pet care market in the world. Various factors contributing to this surge and growth are Urbanization of New Markets, Rise in Nuclear families, changing perceptions towards Pets and Pet ownership. Though lack of space in urban cities is affecting the pet owners but another argument, where couples are adopting Pets instead of having more Children due to changed perceptions of the millennial and generation Z- population continues to increase the scope of Pet Market.
Increased awareness and information available through different platforms has resulted in shift from treatment products to prophylactic products. The Pet owners are becoming more conscious about the products for the quality & efficacy.Due to this increased awareness the Pet owners are now focusing more on essential food products (Pet Feed) that enhances the overall health and wellbeing of their pets.
The increased scope and introduction of innovative products in Petcare segment has set the pace to exploit the market potential. This unprecedented growth rate and market opportunity has opened new vistas for Companies to introduce their Petcare brands, specialised & customised pet food products that are rich in vitamins and nutrition.