Many Indians have different definitions for love and one of them comes with four paws, a tail and a wet nose. They are now opening their arms to pets as their own family members.
The pet food industry in India has grown in recent days. Even though pets can eat a few human foods, the dietary requirements of the pets tend to be different and that opened up the pet food industry.
According to a Mordor Intelligence report, pet food constitutes half of India’s total pet care industry, annually valued at a whopping Rs 8,000 crore.
The report mentioned that dogs are the most popular companions and they constitute 85% of the pets in the country. North Indians account for the most number of pets, and South Indians vary to keep cats and fish as pets.
After the COVID-induced national lockdown in 2020, pet food demand can also increase be attributed to that pet ownership itself.
Salil Murthy, managing director, Mars Petcare India, said that they have a majority market share in the pet food industry, with brands like Pedigree, Royal Canin and Whiskas under its belt. He reveals that the Indian pet food industry is one of the fast-growing industries in the FMCG sector.
Salil Murthy has emailed a news channel stating that the CAGR of the pet food category is valued at Rs 4,000 crore in 2021; it stood at 30-35% over the past two years. The market grew 16% in 2019 and over 20% in the pandemic year of 2020. In 2021, it grew at around 30%.
He further said, “This was because people were spending more time with their pets during the lockdown. They were adopting more of them and also feeding stray dogs and cats, knowing that they were hungry, or donating food to NGOs and many such factors.”
Rana Atheya, CEO and founder, DogSpot Meals and DogSpot.in – an eCommerce site for pet products, comments that the pet food industry is the only one where the customer is different.
Shashank Sinha, Drools CEO, calls their brand ‘made in India’ and ‘make in India’, and claims that manufacturing gives the company an added advantage of the food being fresher, on average. This also makes a difference in how the product is priced. Imported pet food attracts a 22% service tax which is borne by the customer.
Vineet Khanna, the co-founder of Supertails, says that Gen-Z and millennials have completely different attitudes toward pets. They see themselves as parents, not as pet owners. They are more willing to pamper their pets with food, treats and toys.
Anushka Iyer, Founder and CEO, wiggles. in, also agrees that Gen-Z and millennials are more likely to turn into pet-parents and become invested in their well-being. “As customers turn to Google, online communities and veterinarians to understand their pets better, there is a need for education at scale,” she commented.
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