India’s Pet Care Market Booms as Industry Set to Cross INR 20,000 Crores by 2025
Hyderabad, December 23, 2023 — India’s pet care industry is experiencing remarkable growth, with an annual increase of 13.9%, positioning it among the world’s fastest-growing pet care markets. The Indian Pet Industry Joint Advisory Council (IPICA) estimates the current industry value at approximately INR 8,000 crores, projected to reach INR 20,000 crores by 2025.
At the PET Industry Leadership Conference held at Hitex in Madhapur, experts disclosed that 600,000 pets are adopted annually in India, contributing to the industry’s expansion. The conference, part of the PETEX and Hyderabad Kids Fair, attracted over 100 delegates from India and abroad.
Key Industry Insights:
- Adoption Trends: The number of adopted pets in India has surged from 28 million five years ago to 38 million, with expectations of reaching 45 million in the next five years.
- Market Dynamics: The pet industry, valued at INR 8,000 crores, is largely driven by the pet food market, constituting 65% of the total.
- Industry Growth Factors: Increasing standards of living, post-COVID adoption surge, and changing perceptions of pets as family members have fueled a growth rate of over 20% in the past decade.
- Changing Consumption Patterns: While only 6% of pet dogs are fed with commercial pet food, indicating significant market potential, the future is predicted to be Direct-to-Consumer (D2C).
- Pet Services Evolution: The industry has evolved beyond traditional pet grooming to include services like swimming pools, special diets, dog trainers, sitters, resorts, and specialized transport agents.
- Regional Impact: Hyderabad is catching up with Mumbai and Delhi in terms of pet care, with Bengaluru and Mumbai recognized as the most pet-friendly cities in India.
- Upcoming State-of-the-Art Pet Clinic: Notably, a multi-speciality pet clinic is set to open in Jubilee Hills, Hyderabad, with an investment exceeding INR 20 crores. It will feature innovative facilities such as an Animal Blood Bank, Electric Crematorium, and the first animal MRI in India.
The PETEX Expo, drawing around 30,000 visitors annually, continues to grow, reflecting the rising interest in the pet care sector. With an average monthly spending per pet ranging from INR 5,000 to 15,000, the Indian pet care market is poised for sustained growth, extending beyond major cities to tier 2 and 3 cities. This expansion has led to the emergence of 70 new pet care companies in the past two years.
