Monday, June 24, 2024

India Pet Food Market 2018-2028: Regional Analysis And Forecast Details Shared In The Report

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Rising pet adoption, increasing demand for organic pet food and government initiatives regarding the importance of pet nutrition are the leading factors driving the India pet food market during the projected period.

TechSci Research’s report titled “India Pet Food Market – By Region, Competition, Forecast & Opportunities, 2018-2028F” highlights key drivers contributing to the growth of the Indian pet food market. These include a surge in pet adoption rates, heightened consumer awareness regarding pet nutrition, and a burgeoning online presence of pet food brands in India. Moreover, a notable uptick in the demand for organic pet food items and a continuous stream of new product launches from pet food companies are propelling market expansion.

Over the years, various animals have been considered “pets.” However, a significant trend driving India’s pet food sector is the “humanization” of animals, wherein pets are treated akin to family members. Pet owners are increasingly opting for premium and natural meals, devoid of artificial additives, to enhance the well-being of their pets. Additionally, pet owners are growing more mindful of their animals’ distinct dietary needs, realizing that human food only partially fulfills those requirements. The lockdown period witnessed a surge in pet adoptions, driven by the desire for companionship and the joy of pet parenting, resulting in heightened demand from both metropolitan areas and smaller cities.

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Moreover, market players are offering pet food with nutritional content which is encouraging pet owners to purchase such products. For instance, IAMS dog food, a sub-brand of Mars Petcare, offers specialized nutrition depending on the breed and age of the dog. Also, since consumers are becoming increasingly concerned regarding the sustainability of products, it is prompting pet food brands to use environment friendly methods in their products. For instance, Mars Petcare company is implementing a data-driven strategy, to lessen its environmental impact and combat climate change, deforestation, water stress, and unsustainable packaging practices. Also, by using recycled garbage and lowering its carbon footprint, Mars Petcare India is working toward sustainability. By 2025, the company claims to adhere to a 100% recyclable plastic policy. Furthermore, various pet food brands are launching marketing campaigns and collaborating with celebrities in order to attract consumer base. For instance, in 2021, Drools collaborated with Chef Sanjeev Kapoor and Chef Vikas Khanna to launch gourmet bites for pets. The pet food market is segmented based on pet type, food type, price range, ingredients, distribution channel, and region. The distribution channel segment is divided into pet specialty store, supermarket/hypermarket, online, veterinary clinic and others (direct sales, distributor sales, etc.). The online segment is gaining popularity since it offers convenience alongside a wide variety of products to choose from. Also, the pet food market is observing a significant emergence in number of ecommerce websites such as Petsy, Heads Up for Tails, Shakehands, etc. Moreover, in 2022, The Pet Point launched its online pet store to offer customers quality pet products including accessories, toy, pet food, snacks and treats, grooming products, clothing & bedding products, etc. from national as well as international brands. These factors are projected to fuel the market growth in the forecast period. In terms of pet type, the market is segregated into dog, cat, fish and others (birds, tortoise, small mammals, etc.). Among them, the dog segment holds the dominating share in the pet food market. This is due to the factors such as rising adoption of dogs as pets, high availability of dogs in India, and the ability of dogs to get trained and provide good companionship. Key market players in the India pet food market include: • Mars International India Private Limited • Nestlé India Limited • Himalaya Wellness Company • Indian Broiler Group Pvt. Ltd. • Venky’s (India) Limited • Russo Mangimi S.p.A. (Farmina) • AOV Agro Foods Pvt. Ltd • Bharat International Pet Foods Private Limited • Orange Pet Nutrition Private Limited • Pawsitives Pets Private Limited Drools is among the top five brands in India pet food market. It has multiple pet food manufacturing facilities in India. It has two dry pet food manufacturing facilities with a combined monthly capacity of around 4,800 tonnes. A total of 200,000 per days’ worth of wet dog and cat food are produced by Drools in 100g pouches.

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“The rising awareness among people regarding the distinction between the nutritional requirements of pets and the fact that human food does not meet those needs is prompting pet owners to purchase pet food. Therefore, the market is observing a high demand for nutritionally balanced pet food. Also, government initiatives are further encouraging the companies to expand their manufacturing facilities in India, to cater to the increasing demand. Such factors are further anticipated to contribute to the growth of this market.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based India management consulting firm.

India Pet Food Market, By Pet Type Market Share Analysis (Dog, Cat, Fish and Other Pets (Birds, Tortoise, Small Mammals, etc.)), By Food Type Market Share Analysis (Dry, Wet & Others (Treats, Flake & Pellet, Freeze-Dried, etc.)) By Price Range Market Share Analysis (Mass Product, Premium Product) By Ingredients Market Share Analysis (Plant-based, Animal-based), By Distribution Channel (Pet Specialty Store, Supermarket/Hypermarket, Online Retail & Veterinary Clinic, Others (Direct Sales, Distributor Sales, etc.)), By Region (North India, South India, West India, East India), Competition, Forecast & Opportunities, 2018-2028F”, has evaluated the future growth potential of pet food and provides statistics and information on market structure, size, share, and future growth. The report is intended to provide cutting-edge market intelligence and help decision-makers take sound investment decisions. besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities present in pet food market in India.

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