Fur & Fortune in Pet Care - Blog

As Indian households increasingly invite furry friends into their lives, the pet care market is booming—and not just the big players but homegrown players want a piece of the action.
 
What Industry Reports Have to Say
Motor Intelligence forecasts that the India pet food market size is expected to reach US$ 1.87 billion by 2029, growing at a CAGR of 17.08 percent during the 2024-2029 period. It reports dogs as the fastest-growing market by animal with 17.73 percent projected CAGR for 2023-2029 and identifies Mars Inc, as the leading market player with 34.49 percent for the period 2022. Pet treats stand out for the fastest-growing market by product with 19.99 percent CAGR for the 2023-2029 period.
 
As per Statista, the Indian pet food market revenue amounted to US$ 0.64 billion this year and is anticipated to grow annually at a CAGR of 12.24 percent for the period 2024-2029. Reiterating a similar upward trend for Nuvama Institutional Equities, India’s pet food market is valued at INR 5,000 crore and is growing leaps and bounds, looking to grow at a 15 percent CAGR over a 10-year period.
 
What is Driving this Shift?
Some of it is because of urbanization. As more people are now leading their lives in cities, pets have come to be an agent of comfort and friendship for them in their busy lives. And with that change comes also a need for ease of accessibility and convenience. FMCG companies, with their wide and broad distribution networks, are striving to make pet care products more accessible than ever.
 
Also, it’s not just about convenience. Consumers today demand variety and the very best for their pets and are prepared to pay for premium quality. This presents an ideal opportunity for the FMCG giants that already lead the ranks in those segments to further extend their reach for pet care.
 
Pet Care: A Billion-Rupee Playground
 Big players like Nestle India acquiring Purina Petcare India, a pet food business, and Emami securing a 30 percent stake in Cannis Lupus Services, a pet-care startup, are already setting the base for this emerging market. The latest heavyweight to jump aboard is Godrej Consumer Products, through its new subsidiary, Godrej Pet Care, which has declared an astonishing INR 500 crore in investments over five years to carve out its slice of this fast-growing sector.
 
One of the leading pet food companies in the world, Mars, Incorporated’s Mars Petcare, considers India a priority market and has plans to double its marketing expenditure in the country in the next couple of years. It had a lion’s share dominating the market with brands like Pedigree, Whiskas, Royal Canin, Banfield, and IAMS, followed by Indian Broiler Group with its Drools Pet Food brand.
 
New Entrants Stealing the Limelight
While the FMCG giants sniff for profits, homegrown ones also give them a run for their money. Heads Up For Tails (HUFT), Supertails, and Furrever Fit are breathing a new life in the pet care arena with fresh ideas and premium products targeting an increasingly sophisticated market.
 
For instance, HUFT, having revenue worth INR 560 million for the first quarter of this fiscal year, is harboring ambitious plans, hoping to corner 10 percent of the Indian pet care market by 2025. Supertails, a Bengaluru-based brand that’s baking up the perfect storm of love with Henlo, a completely human-grade dry dog food. And then, of course, there’s Furrever Fit, which sets a new benchmark in fresh pet food delivery, which boasts home-cooked meals for pets in just 60 minutes (for region Mumbai, Delhi, or Gurgaon).
 
Bright Future Awaits India’s Pet Care Industry
The India pet food market is expected to grow and is powered by key drivers including increasing pet ownership, urbanization, and rising disposable incomes. However, some challenges need to be addressed, like regulatory issues in product quality, limited awareness about proper nutrition, and distribution barriers. This backdrop gives rise to current trends of natural and organic pet products, premiumization, e-commerce growth, and more.
 
Dedicated Pet Show – PETEX India
In PETEX India, the flagship pet care show by Hyderabad International Trade Expositions Ltd (HITEX), pet lovers, parents, or interested parties/stakeholders in the industry’s rapid growth offers just the right solution and insights for all things pet-related. Slated to be the biggest and the best so far, presenting cutting-edge innovations and products, the event surely will have pet parents impressed and pets wagging their tails in delight. 

The 7th edition of India’s premier B2B2C exhibition on the pet care industry, PETEX India, is going to run from January 31 - February 2, 2025, at HITEX Exhibition Center, Hyderabad.