DUBLIN--(BUSINESS WIRE)--The "India Pet Care Market Size, Share & Analysis, by Category (Dog Food, Cat Food, Pet Healthcare, Pet Dietary Supplements and Others), By Pet Food Type (Dry Food, Wet Food, Pet Treats) Forecast and Opportunities, 2021-2025" report has been added to ResearchAndMarkets.com's offering.
COVID-19 has had a significant impact on the Indian economy with the country reporting negative GDP growth of over 7% for 2020. Asia's 3rd largest economy historically saw strong average GDP growth; however, pandemic led national lockdowns caused the Indian economy to contract.
However, the country could see marginal growth in 3rd and 4th quarter of 2020. Pandemic has been challenging for many industries in 2020, however, pet food manufacturers recorded positive growth as with the national lockdowns and lack of social interaction, people preferred to adopt dogs and the increase in pet ownership is anticipated to help pet food manufacturers to see higher volume sales in 2021 and subsequent years.
India Pet Care Exhibits Strong Growth
The pet care sector continues to record double digits value growth on the back of growing pet ownership coupled with pet humanization. Country's pet care industry, driven by strong dog food sales advanced with a value CAGR of over 19% during 2013-20. With the nationwide lockdowns enforced in March 2020 coupled with continuance of work from home, Indian pet owners spent more time with their pets and they fed more premium pet food especially dog and cat treats thus helping the overall pet care industry to witness strong growth. Dog food category accounts for highest value share while other pet products like pet toys, pet accessories etc. also saw strong value CAGR of over 17% during review period of 2013-20.
Pet ownership of dogs and other pets in India has increased substantially over the past decade owing to rising number of nuclear families and smaller households, thus helping pet care market considerably. With improvement in awareness, a section of Indian pet parents are buying premium dog food to ensure the health and wellness of their dogs as growing number of these consumers believe that feeding premium food will help their dogs to live longer.
Pet food manufacturers are offering pet food geared towards longevity and with increased health benefits like dog food with Omega 3 and 6 fatty acids for healthy skin, glucosamine for healthy joints, and vitamins and minerals for complete nutrition of dogs. Further, pet care high growth potential has attracted more investments and many pet startups like Dogspot, Heads Up for Tails, Nimble Wireless have come up over the years. The country's strong and growing dog population of around 19 million coupled with continuance of premiumization in pet food will take India pet care industry to USD 800 million by 2025.
New Product Launches
India continues to witness more launches especially in the dog food category. During 2020-21, over 15 new products were launched in dog and cat food category with dog food accounting for over 75% of these launches. In year 2020, Market leader Mars launched Sasami and Vegetables Gourmet meal dog food under Cesar brand in India. Other players also continued to launch new products in the country.
Mars International continues to remain the market leader followed by Royal Canin as both are well established as pet care companies, having a strong brand recognition and credibility among Indian pet parents. Mars, Royal Canin and Indian Broiler Group, the top three players continue to dominate Indian pet food market.
Pandemic Helps E-retailers
India pet care distribution is dominated by pet shops; however, e-retailers witnessed whopping growth especially in first half of 2020 as India remained under lockdown since March 2020 and pet owners opted to purchase pet food and other pet products from online retailers. With the fear of Covid-19, Indian pet parents stayed away from large store-based retailers and instead chose e-retailers followed by local pet shops. Further, as per our internal survey conducted in India, 47% of e-shoppers said that they would continue buying their pet food from e-retailers in the post-pandemic period as well.
The report elaborates on the following aspects of the pet care market:
- Global Pet Care Market Outlook
- Company market share
India Pet Care Market size & share by value & volume
- Company market share
- Market size & share by value & volume
Market Segmentation Analysis - By Category (Dog Food, Cat Food, Other Pet Food, Pet Healthcare, Pet Dietary Supplements & Other Pet Products)
- Market Segmentation Analysis - By Segment (Dry dog food, wet dog food, dog treats, dry cat food, wet cat food, cat treats)
- India Pet Care Market Dynamics (Drivers & Challenges)
- India Pet Care Market Trends & Developments
India Pet Care Competitive Landscape
- Cuddle Up Diet Products
- Glenands Group
- GOA Medicos
- Hill's Pet Nutrition, Inc.
- Indian Broiler Group
- Mars International
- Royal Canin
- Sai International
- Scientific Remedies
- Venky's India
For more information about this report visit https://www.researchandmarkets.com/r/gn7blb