The India pet care products market has seen remarkable growth in recent years, reaching a value of approximately USD 628.15 million in 2023. This growth is largely attributed to the rapid expansion of distribution channels across the country, making pet care products more accessible to a broader audience. As urbanization and disposable incomes continue to rise, the market is expected to grow at an impressive CAGR of 23.7% from 2024 to 2032.Expansion of Distribution Channels Fuels Market Growth
One of the key drivers of growth in the India pet care products market is the expansion of distribution channels. The increasing availability of pet care products in hypermarkets, convenience stores, and online retail platforms like Amazon, Big Basket, and Flipkart has significantly boosted market growth. This accessibility is particularly evident in tier-II and tier-III cities, where the penetration of retail outlets is expanding, making it easier for pet owners to access a wide range of products.
The trend of direct-to-consumer (D2C) services and the entry of international companies into the Indian market have also contributed to the growing demand for pet care products. Additionally, the development of pet-related centers, such as spas and specialty centers, is playing a crucial role in driving the market forward.
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Rising Demand for Organic and Natural Pet Care Products
The demand for organic and natural pet care products is on the rise, driven by health-conscious pet owners seeking nutritious and wellness-oriented pet food. This trend is expected to continue, with a growing preference for pet supplements that enhance the well-being of pets, particularly dogs. The COVID-19 pandemic further accelerated this trend as pet owners increased spending on their pets due to stay-at-home orders and heightened isolation.
The pandemic has also heightened safety concerns, leading to an increased demand for hygienic pet products. Moreover, the rising environmental consciousness among consumers is driving demand for pet care products with sustainable packaging, further propelling the market.
Recent Developments in the Market
Key players in the India pet care products market are making strategic moves to strengthen their positions. In July 2022, Nestle India announced its acquisition of Purina Petcare India for INR 123.5 crore, gaining direct access to the pet food products sector. Similarly, Emami invested in Cannis Lupus Services India, a company offering ayurvedic pet care products, signaling a growing interest in natural and herbal products in the market.
Market Outlook and Trends
The pet population in India has grown significantly, from 22.1 million in 2018 to 38.5 million in 2023, and is projected to reach 58.7 million by 2028. This growth is driving demand for pet care products, including food, healthcare, grooming products, and accessories.
The rise of e-commerce platforms is another significant trend, making it easier for pet owners to access a wide range of products. As online retail continues to grow, it is expected to play a pivotal role in the future of the India pet care products market.
The India pet care products market is on a robust growth trajectory, driven by expanding distribution channels, rising demand for organic and natural products, and increasing pet ownership. As key players continue to innovate and expand their product offerings, the market is poised for substantial growth in the coming years.