Explore the dynamic growth and evolving trends in the global pet care industry. From booming markets and expanding product segments to the rise of pet ownership and evolving consumer behaviors, discover how the industry is transforming to meet the needs of pets and their devoted owners.
Pets have woven their way into our hearts so much so that the number of pet owners keeps growing profoundly each year. This has made way for the pet industry to bring about as many resources and tools to help people navigate pet parenthood. The industry is booming at a fast rate.
The Global Pet Industry is set to grow to $500 Billion by 2030. The pet industry is poised to swell from $320 billion today to almost $500 billion by 2030. The Pet Food segment is over 80% of the market. Pet Accessories is expected to cross 800 crores by 2024-25. Shampoo & conditioner are expected to cross 300 crores by 2025-26. The health supplement is expected to reach close to 200 crores by 2025-26. Cat care is expected to cross 650 crores by 2024-25. Online sales of overall pet products are expected to cross 1000 crore by 2023-24.
GLOBAL PET MARKET
The global pet care market size was valued at USD 235.32 billion in 2022. The market growth is projected to grow from USD 246.66 billion in 2023 to USD 368.88 billion by 2030, exhibiting a CAGR of 5.92% during the forecast period. Pets are considered members of the family among a vast majority of pet owners. According to the American Pet Products Association, about 85 million homes own a pet, with pet ownership increasing from 56 % to 68 % in the last 30 years. In 2020, households headed by the younger generation account for roughly 60% of pet ownership. The US market is positioned to continue to remain the largest pet market, with sales approaching $200 billion by the end of the decade.US Pet Industry may approach $200 Billion by 2030. US sales from e-commerce will double to nearly $60 billion by 2030. This would grow the US e-commerce market share to around 30% compared to its existing 22%. As per the deep research carried out by Verified Market Research, the global Pet Care Market size was valued at USD 179.45 Billion in 2021 and is projected to reach USD 184.43 Billion by 2030, growing at a CAGR of 6.84% from 2022 to 2030.
INDIAN PET MARKET OVERVIEW
Over the years, The Indian Market has made remarkable progress. Indian Market heavily relied on imports from the Global Market previously but is now forming products and services centred around self-reliance and a love for pets worldwide. Whether that is Royal Canin creating Tailored Health Nutrition customised for different types of pets based on their nutrient requirements or Rossari launching a diverse range of products considering the sensitivities of pets, the Indian Market has come a long way in terms of its business and quality. India’s pet care market size in FY 2020-21 is 2500+ crores and is expected to grow more than 20% and cross 7500 crores by 2026.
India’s pet care market is growing at 13.9% annually, making it one of the fastest-growing pet care markets in the world. It is estimated that India’s pet care industry will reach $800 million by 2025. Every year, 600,000 pets are adopted in India. Dogs are the most popular pets in India, with an estimated 31 million pet dogs projected by the end of 2023. Every year, 600,000 pets are adopted in India. The pet food market in India is over $310 million. The Indian veterinary healthcare market is valued at $169 million and is expected to reach $186 million by 2027.
With a tremendous increase in pet ownership, the industry has expanded exponentially. The Global Pet Industry in 2022 was 280 million (USD). Within the forecast period of 2023-2032, it is expected to grow 7%. The value Projection of 2032 is 550 million (USD). The pet Food segment is over 80% of the market. Pet Accessories is expected to cross 800 crores by 2024-25. Shampoo & conditioner are expected to cross 300 crores by 2025-26. The health supplement is expected to reach close to 200 crores by 2025-26. Cat care is expected to cross 650 crores by 2024-25. Online sales of overall pet products are expected to cross 1000 crore by 2023-24.
INDIAN PET FOOD MARKET
The Indian pet food market is projected to register a CAGR of 4.7% during the forecast period. (2023-2028).
India is experiencing a significant shift towards becoming a society that loves and owns pets, particularly dogs and cats. This transformation is primarily driven by factors such as the expanding middle-class population, rapid urbanization, delayed marriage and parenthood, and a growing number of elderly individuals. These changes have led to an increased demand for premium branded pet products. The younger generation, in particular, supports this trend and frequently seeks veterinary advice and regular check-ups for their pets, reflecting a trend of pet humanization. As income levels rise and health awareness grows, pet owners are increasingly opting for premium and natural pet food that is free from genetically modified organisms, artificial colours, and flavours, and promotes overall pet health. In response, companies are introducing high-quality pet food options enriched with proteins and vitamins to maintain healthy skin, digestive health, and other benefits.
As the Indian population ages and birth rates decline, pet ownership is on the rise as people seek companionship. The India International Pet Trade Fair (IIPTF) reports an average annual adoption rate of 600,000 pets. Pet parents are now willing to spend more on the health and well-being of their pets, leading to a projected growth in demand for pet care products. The increasing adoption of pets, emotional attachment towards them, the trend of humanizing pets, and considering them as status symbols are all contributing factors to this demand. In 2017, the pet food market witnessed a small revenue increase of USD 5.7 million due to a decline in sales of pet food products, attributed to the impact of the Goods and Services Tax (GST) and a contraction in premium pet food sales. However, an article published in 2021 revealed that food products account for half of India’s total pet care industry, which has an estimated annual worth of up to INR 8,000 crore. Dogs are the most popular pets in India, accounting for 85% of the pet population. Northern India has the highest concentration of pets, while cats and fish are the preferred choices in southern India. The rising popularity of pet cafés and spas has further fueled the demand for pet food products in the country.
INDIAN PET CARE MARKET
The Indian pet care market is dominated by major players, with Mars International leading the pet food segment. Their popular brands like Whiskas and Royal Canin have gained significant popularity among both existing and new consumers who are shifting from homemade pet food to packaged options. Pedigree and Royal Canin also enjoy strong demand due to their established consumer base and extensive distribution networks. Key companies in the pet food market are Mars Petcare, Inc., Nestlé Purina PetCare, Himalaya, and Drools. These companies are investing in new and improved products, expanding their business operations, and acquiring other companies. They are also focusing on research and development to launch new products at affordable prices.
In the pet care products segment, the major companies include Himalaya, PetVeda, Choostix, Wahl, and Zoivane. Grooming products like shampoo and conditioner, brushes, combs, and hair and nail trimming tools are currently popular in the Indian market. Dry bath products, powder, and shedding control solutions are also gaining traction.
For pet healthcare products, the major companies are Zydus Cadila, Becky’s India, Hester AG, Virbac India, and Vetcare. Health supplements, dental care, eye and ear care, as well as other products such as healing creams, flea and tick control, skin spot and coat care and diapers, are in considerable demand in the Indian market.
Pet services companies are also becoming increasingly popular in India, offering services such as pet training, pet holidays, pet photography, pet therapy, and pet clothing. Some notable companies in this sector include Wag’n Tails, Heads Up for Tails, Pawparazzi, Wag-A-Bond, and The Pet Set.
INDIAN PET GROOMING AND DOG TRAINING INDUSTRY
The pet grooming products market in India is set to experience substantial growth in the future, driven by factors such as increasing awareness of pet health and well-being, the growing popularity of cats and dogs as pets, and the availability of innovative and specialized products from manufacturers.
The market is expected to benefit from rising disposable incomes and the rising concept of pet parenting. Shampoos and conditioners are particularly in demand as they help address common issues related to hair fall and skin diseases in pets. Distribution channels such as veterinary clinics, pet stores, and online platforms play a crucial role in the industry, with the online segment expected to contribute significantly to future growth. Overall, the pet grooming products industry in India offers a promising opportunity for businesses to expand and succeed.
Dog Training is widely practised in India and there is a dog training facility in every locality. The coaches are so well versed in the craft that you can find them busting common myths and basing their educative training on insights that are useful to specific breeds. Steps have been taken in even providing dog training courses to provide a platform for anyone to learn the necessary tools in case they cannot afford the services that come from dog training.
INDIAN PET CARE MARKET GROWTH FACTORS
The changing attitudes of people towards pet humanization, the trend of delayed parenthood among urban and newly married couples, the rise of nuclear families, the increase in double-income households, and the shift in lifestyle have made pets an integral part of Indian families. This has led to a significant rise in demand for pet care products and services in the Indian market. As the pet care market in the Western world becomes saturated, international brands are now entering the Indian market, creating ample scope and business opportunities.
The Indian pet care market has experienced strong growth due to the increasing number of pet owners. The dog segment currently holds the largest market share, accounting for more than half of the market, while the rabbit segment is projected to grow at an anticipated CAGR of over 26%. Branded pet grooming kits and accessories have gained stable acceptance among consumers who recognize the importance of specialized food and sustenance products for their pets’ growth and nutrition. Dog food sales have shown promising growth with a CAGR of over 21%. This overall growth trend indicates that the pet care market in India is expanding rapidly and is expected to continue growing in the near future.
Furthermore, with the diversification of distribution channels, domestic pet care companies have started to compete fiercely with foreign players, intensifying the competition in the market. This has resulted in a steep rise in the Indian pet care market and is expected to drive further growth in the coming years.
The Pet Care Industry is growing in a wide range of areas and simultaneously building on its expertise and skills to help pets and pet parents worldwide garner the courage, confidence, and resources to live a full and happy life. It has turned into a sense of self-dependency over the years while opening doors to learning from the global market. Indian brands are reaching creative heights and are showcasing a deep sense of fondness for pets across the world by creating products and services that are suitable to the needs of the pets and are creating their own unique identity by creating brands that cater to pet needs.