Over the last couple of years, pet adoption in India has increased multifold. Pets have been a source of comfort and provided companionship when times were uncertain, especially during the coronavirus-induced lockdowns. The adoption of cats, dogs, and other furry companions has been on the rise since then. India has around 32 million pets, and this number is growing by 12% each year. This is further contributing to the growth of the pet care industry. As per research, the pet care market in India stands at Rs 74,000 crore in 2022. With the ongoing pet adoption, the industry is expected to grow at a 19.2% CAGR and reach Rs 210,000 crore by 2023.
While pet food captures two-thirds of the pet care industry revenue, it is followed by grooming, accessories, and the healthcare categories. Gradually, more and more people are seeking pet-oriented products and services. This is majorly driven by the increased availability of varied pet products and the humanization of animals, where people consider their pets as family members. Around 40% of Indians spend anywhere between Rs 500 to Rs 1500 on pet supplies each month. With a greater shift from pet ownership to pet parenting in the last year, Aamir Islam, Co-founder, Carry My Pet shares some of the pet care trends that will potentially continue in 2023:
Increasing demand for high-quality non-food pet products
Due to increasing stay-at-home orders during self-isolation, which increased consumer spending on pets, the business for high-quality pet care products rose quickly in the last few years. New pet parents tend to spend more on first-year essentials like bowls, leashes, pet beds, collars. Pet care products other than food, such as shampoos and toys, are starting to enter the market as more people become pet-friendly. Gradually, the demand for pet couture, dietary supplements, treats, walk gear, grooming, and litter products have grown. According to reports, a certain percentage of Indians spend more than Rs 5,000 on pet products each month. As more stray and abandoned animals are being adopted, especially by the millennial and Gen-Z population, this trend will continue in the year to come.
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Pet care centers are on the rise
With hybrid and on-site work cultures gaining momentum, demand for expert pet care is increasing. This has given rise to more wellness and spa facilities, grooming centers, and veterinary clinics that offer a premium pet experience and improve pet living. Alongside, there is a greater demand for pet sitters and kennels. More pet parents, particularly the younger generation, in metro cities seek good daycare or pet sitters to take care of their pets in their absence. This trend is gaining popularity in the urban belts of the country. Currently, pet parents in some regions still rely on immediate family, acquaintances, and house help for pet care in case they have to be away. However, the trend of pet care centers will potentially gain prominence gradually.
More pet parents to seek pet relocation services
When it comes to the pet care ecosystem, pet transportation and pet-friendly hotels and cafes have seen a gradual uptick. Some of these result from pet parents realizing the gap in pet care services and taking conscious steps to fill it. Earlier, pet travel or relocation was an unorganized sector. For almost every pet parent, the safety and comfort of their furry friends are a primary concern. However, more pet relocation services that offer transparent, affordable, and trustworthy national as well as international pet transportation are increasing in the market. People who love to travel to nearby or exotic places, as well as those who have jobs that require them to be on the move, can now easily take their pets along with them without having to worry about commuting. In the near future, demand for pet travel and relocation services will further increase.
Way forward
As pets that were adopted in the last few years grow big, their food and care requirements will expand. Therefore, we are to witness a rise in pet care, whether in terms of food, daycare, nutrition, health, or transportation. As the number of parents who ensure their four-legged companions are given the best care continues to increase, 2023 will have some interesting pet care trends that will drive the industry growth.
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