Pet Care: A Ripe Opportunity in India Amid Rapid Digitization and Growing Startups – https://www.indianretailer.com/
Looking back a decade, how many friends and families you know had a pet? Compare it with the present day and you will realize that more and more people are adopting pets, especially after the COVID-19 pandemic. Besides rapid urbanization, nuclear family set-ups, and pet humanization, there is more to this growing culture.
It is rapid digitization, a growing number of startups, and the booming pet food industry in India, make pet care a ripe opportunity. Although the pet care industry in the country is in its nascent stage, Indians are adopting animals more than ever and that means, they will be more careful of every need of their fur companion.
The rise in Demand for Dog Care: A Post-Pandemic Effect?
Be it pet toys, dog food, veterinary consulting, or grooming for your furry partners, the demand for quality pet care has drastically gone up after the COVID-19 outbreak. During the pandemic, the demand for pets went up when we were isolated from our families and friends. Pets gained immense popularity for their pleasant company as the deadly virus kept us indoors for months.
The pet care industry has witnessed a sudden surge in demand for pet grooming or even vet care in the post-pandemic world. As the unprecedented crisis brought in a huge digital transformation across sectors, the pet treatment industry also witnessed digital solutions to meet the growing demand. For instance, some pet care companies offer their services online, providing door-to-door grooming or vet care/consultation, just a tap away.
What Else is Contributing to Rising in Pet Care?
Rising disposable incomes, nuclear families, eradicating the social stigma around owning a pet, and changes in social attitude have resulted in a tremendous increase in opportunities for the pet care industry. India has 32 million pets, and the population is growing at a rate of more than 12 percent per year. With the pet population growing at this pace, established pet care brands as well as startups gear up to tap the tremendous market potential around pet food and vet care.
A Paradigm Shift in Pet Owners’ Attitude Towards Pet Health
The ripples caused by the ongoing trend of sustainability and healthy living have impacted pet healthcare plus nutrition on a large scale. Today, people are becoming aware of organic products and proper diets for themselves as well as their pets, whom they consider as one of their family members.
Over the years, pet owners have been moving towards nature-friendly pet care products or organic items that are free from any artificial colors or flavors. Research shows that Indian owners spend approximately Rs 23, 000 annually on family pet food.
Product Launches and Competition
According to a report, the country has witnessed spectacular growth in new pet product launches recently, especially in the food department. During 2020-21, around 15 products were launched in the dog and cat food category with dog food contributing to 75 percent of the annual launches.
Growing concern for animals has created a healthy atmosphere for pet care in India. Pet care manufacturers and startups in India are coming up with new products every day. The growing digitization plus impact of social media platforms have worked as a catalyst with regard to spreading awareness regarding pet care and pet health. With more and more demand expected in the coming years, the particular demand for pet care is expected to grow manifold. To meet this challenge, smart brands or pet care and attention startups can offer unique solutions with the help of technology and digitization.