Pet Industry in India
In 2019, Indians owned 20 million pet dogs, and over 10,200,000 pet dogs live in India. The pet dog population in India is projected to reach 31 million by 2023, while the pet cat population will reach 2.4 million. Dogs are the most common pet in India, with 34% of owners having a dog and 20% having a cat. Approximately 60% of Indians have a pet, and 41% have no pet.
Growth of Pet Market in India
The pet industry in India is growing rapidly and is expected to reach INR 20,000 crores by 2025 from the current INR 8,000 crores. The industry’s growth is driven by rising pet adoption and pet parents seeking premium care. The pet care market is projected to reach $1,932.6 million by 2030, growing annually at 16.5%. Pet food dominates the market with a 65% market share.
Pet Food Market in India
The pet food market in India is on the rise, with projections to reach US$1.4 billion by 2026, growing at a rate of 7% annually. Dog food leads this segment, and premium and humanized foods are current trends. The sector is experiencing increased demand due to more nuclear families, higher pet ownership rates, and rising incomes.
Pet Population in India
The pet population in India currently stands at 32 million, with an annual growth rate of 11%, primarily driven by dogs and cats. The market for pet grooming products is thriving, benefiting from increased consumer awareness about pet health. Innovations by manufacturers and the presence of more veterinary clinics and stores are also contributing to growth.
Conclusion
The pet industry in India is witnessing significant growth, fueled by increasing pet ownership, rising incomes, and changing lifestyles. With a focus on premium pet care and nutrition, the market is expected to continue its expansion in the coming years.