Trends That Will Drive the Growth of the Indian Pet Care Industry In 2023

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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