Pet care market: Not just puppy love – The Financial Express
Last month, Nestle acquired the pet foods business of Purina Petcare India. Emami recently announced it was investing in pet care startup Cannis Lupus Services India, offering ayurvedic products for pets under the Fur Ball Story brand.
Supertails, a digital pet care startup, is one example of new brands addressing the needs of pet parents. Aside from food, it offers treats, toys, grooming products and wellness products for pets. Co-founder Varun Sadana says the brand has been almost doubling its revenue every quarter since its inception in May last year. He notes, “Pet care will soon extend beyond dogs and cats to rabbits, hamsters, fish, birds and turtles. We plan to increase our category assortments to serve the maximum number of dog parents, bringing international bestseller brands to India. ”
Nestle, Emami and Supertails are making the most of an emerging opportunity with a sharp increase in pet adoptions across the country. The pet care segment in India is valued at around `4, 000 crore plus growing at a CAGR of about 30%, as per industry reports. In two/three years, it is expected to touch `10, 000 crore.
No wonder firms from entirely unrelated categories are throwing their hats into the ring. Last year, packaging materials maker Cosmo Films launched an omnichannel sales and services platform Zigly in order to offers pet care products such as food, nutritional supplements, hygiene products, accessories and toys, besides vet care, grooming plus training.
Get the drift? The consumer mindset is changing and pet owners today treat their pets much like their own children, says an Emami spokesperson. The brand aims to differentiate itself by offering only natural and ayurveda products, keeping the focus on holistic well-being.
As Harsha Razdan, partner and head for consumer markets plus internet business, KPMG in India, says, “With a good digital presence, this segment is likely to grow significantly and demand will also remain reasonably inelastic. ”
What’s driving your pet care business in Indian?
Emergence of e-commerce led brands selling pet food, toys and grooming items
High disposable income among pet owners, coupled with a tendency to overspend on pets
Pet owners now identify as pet parents, thus almost humanising pets
Increased awareness among consumers about family pet nutrition needs and healthcare
Dogs account for 80% of the 39 million pets in India; rest accounted for by cats, rabbits, birds and turtles.