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India Pet Care Market Analysis By Type, Forecast and Opportunities, 2016-2021

Pets have been integral part of the Indian families for long time and even in today’s fast-paced life pets continue to be important part of human lives. Indian pet care is part ancient part modern, as pets are increasingly tending to be perceived as family members and they are being fed quality food and are being given good healthcare. Over the past decade, there has been a dramatic shift in Indian consumers’ buying pattern and a large number of urban dwellers are leading busy lifestyle, driven by high aspiration level.

India, world’s third largest economy by purchasing power parity (PPP) method, is growing with the highest GDP growth rate of over 7% among major economies and the country has witnessed a rise in its personal disposable income in the last decade, owing to surging employment opportunities. Pet adoption in India has increased substantially over the past five years and this surging ownership of dogs, cats and other pets has contributed towards increased demand of pet care products. High growth potential has attracted more investment in the pet care market.

According to “India Pet Care Market Analysis By Type, Forecast and Opportunities, 2016-2021”, pet care market has grown with a whopping CAGR of 26.21% during 2011-15 and it is forecast to grow with a CAGR of over 17% during 2016-21. Change in the lifestyle & consumption pattern coupled with rise in the disposable income, following upsurge in the number of double income households has helped pet care market considerably. Growing pet humanization, urbanisation and changing consumers’ taste and preference, are few of the additional factors driving the pet care market in India.

Dog food is the engine of pet care market in India and the category account for the largest value share in 2015, ‘pet healthcare’ category held the second largest market share in the country’s pet care market, and it was closely followed by ‘pet dietary supplements and cat food. West region is the largest regional market for pet care products in India as states are more industrialised and people lead busy lifestyle with high personal disposable income than other parts of the country. As far as competitive landscape is concerned, pet care market is dominated by foreign brands, namely Mars International and Royal Cannin, together accounting for over 51% of the market in value terms. India Pet Care Market Analysis by Type, Forecast and Opportunities, 2016-2021 elaborates the following aspects of pet care market in the coun ...

News Release: India Pet Care Market Analysis By Type, Forecast and Opportunities, 2016-2021
Submitted on: December 07, 2017 04:49:26 PM
Submitted by: Rahul Raj Aryan
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