India’s Pet Food Market to Hit US$ 1.98 Billion by 2030 - News

India’s pet food market is set to experience exceptional growth over the next few years. It is expected from the current market size of US$ 843.89 million to grow to US$ 1.98 billion by 2030 with a 15.37 percent CAGR, as per the Research and Markets new report. This expansion has been attributed to various factors such as an increase in pet ownership, a growing urban population, and a rising per capita income. This has led to an increase in the number of families in urban areas embracing pet companionship, resulting in an increased market for the premium and specialty pet food products.

The market also mirrors global trends such as the humanization of pet food, where diets mimic human preferences, including grain-free, gluten-free, and functional options. These include therapeutic foods for treating various ailments such as obesity, allergies, and diabetes, among other conditions, to be taken based on the vet’s advice.

E-commerce is critically important, and subscription services coupled with digital marketing strategies, such as influencer marketing, are bolstering customer relationships. Although the demand is highest in North India, which has a high disposable income per capita, the demand for pet food has increased gradually across the country. As key players like Mars International India Pvt Ltd, Nestle India Ltd, and Drools Pet Food Pvt Ltd innovate, India’s pet food market is set to thrive, with premiumization and sustainability at its core.