Increasing trend of pet adoption, rising popularity of pet foods among consumers with busy lifestyles and product innovations to drive India pet food market
According to a recently released TechSci Research report, “India Pet Food Market By Pet Type, By Food Type, By Point of Sale, By Region, By Leading Cities, Competition, Forecast & Opportunities, FY2026”, pet food market in India is projected to grow at a CAGR of more than 16% until FY2026, owing to increasing income levels, rise in pet population, increasing demand for organic pet food and people adopting western culture. Additionally, rising awareness regarding the fact that pets should be fed readymade food instead of home-made food because of the added nutritional factors and companies focusing on price innovations, new products creation and acquisition & partnership are driving the growth of India pet food market.
The India pet food market is segmented into pet type, food type, point of sale, leading cities, region and company. In terms of pet type, the market is segmented into dog, cat, fish and others which includes birds, tortoise, small mammals such as rabbits, hamsters, guinea pigs, mouse, etc. Among these, dogs accounted for the largest share in pet food market in FY2019 followed by fish and are expected to hold their dominance in the market until FY2026 as well on account of rising ownership of pet dogs across the country as dogs have become an integral part of every Indian family today. In terms of food type, the India pet food market is segmented into dry, wet and others which includes treats, flake & pellet, freeze-dried, etc. Out of these, dry food type segment accounted for the majority share in FY2020 and is anticipated to hold its dominance over the India pet food market through FY2026 as well. This is due to the fact that there is no additional preparation required for serving dry food compared to wet food and people usually prefer dry pet food on account of no extra efforts required for its serving.
In terms of point of sale, market is segmented into dedicated pet store, supermarkets/hypermarkets, online retail and others which includes convenience store, pharmacy, etc. Out of these, dedicated pet store is expected to dominate India pet food market until FY2026 on account of the fact that these stores serve as one stop destination for the consumers regarding all their pet food and grooming needs. Although, urban areas remain the dominant consumption market, however, deeper penetration in rural areas is expected to drive the pet food market across the country.
Browse xx market data Tables and 15 Figures spread through 70 Pages and an in-depth TOC on “India Pet Food Market “
In terms of region, the India pet food market is categorized into North India, South India, East India & West India. Here, North India held the largest market share until FY2019 followed by South India owing to increasing pet population and surge in number of nuclear families. In addition to this, prevalent trend of keeping dogs as pets to ensure family’s safety and keep a reliable lookout is also driving the market. Moreover, dog owners are resistant to accept any other pets such as birds or sea creatures such as tortoise due to lack of availability and huge temperature variation in the region due to which, the life expectancy of these pets is significantly low in North region due to the climatic conditions.
In terms of leading cities, the market is segmented into Mumbai, Delhi/NCR, Chennai, Hyderabad, Bengaluru, Kolkata, Pune and Rest of India. Out of these, Mumbai accounted for majority share in India pet food market due to increasing availability of nutritional pet food products across the city, lack of time to prepare homemade foods for pets, hectic lifestyle of consumers, etc.
Major players operating in India pet food market include Mars International India Private Limited, Indian Broiler Group Pvt. Ltd., Charoen Pokphand India Pvt Ltd, Farmina Pet Foods India (Russo Mangimi SpA), Gitwako Farms India Pvt. Ltd., Venky’s (India) Ltd. and others. Leading players and companies are focusing on product quality, price innovation, products innovation and acquisitions & partnerships to maintain sustainable growth in the market.
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“India pet food market is expected to grow at a robust pace due to the increasing preference of opting the best nutritional pet food for their pets by consumers coupled with increasing availability of pet food over online channels as people are getting more health conscious for their pets also and prefer quick deliveries and attractive discounts.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“India Pet Food Market By Pet Type, By Food Type, By Point of Sale, By Region, By Leading Cities, Competition Forecast & Opportunities, FY2026” has evaluated the future growth potential of India pet food market and provides statistics and information on market structure, consumer behaviour and trends. The report is intended to provide cutting-edge market intelligence and help decision makers take sound investment evaluation. Besides, the report also identifies and analyses the emerging trends along with essential drivers, challenges, and opportunities available in India pet food market.
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