Market report: Petfood in India on the rise
India’s economic growth and rapid urbanization are driving its petfood industry forward
The Indian pet industry has come a long way in the past decade. What was once a motley crew of shop keepers casually selling a sparse and sometimes dubious assortment of shampoos and biscuits has now evolved into an US$800-million-plus industry. At the top of the food chain rests petfood, with 24% annual growth.
Continuing its growth trend, the petfood segment in India is expected to register strong double-digit retail value growth in 2013 and beyond. This growth will be driven by several factors-an increasing number of pet adoptions, rising disposable income, higher awareness of the dietary needs of pets and the benefits of petfood, and the booming population of the Indian middle class.
"Dog food in India has good potential, as out of the roughly 8 million cared for pets in the country today, commercially prepared petfood caters to approximately 6%-7% of the total calorie needs of the pets, the balance being still fed through homemade food," says Nitin Kulkarni, director of corporate affairs, Mars International India Pvt Ltd, a 100% subsidiary of Mars Inc., USA. Headquartered in Hyderabad, Mars International India manufactures and markets dry dog food indigenously and imports and sells cat food under the brands Pedigree and Whiskas, respectively.
"This gives an indication of the potential for prepared petfood in the country," says Kulkarni. "We are witnessing double-digit growth in the petfood category in the past five years. We have also observed a rise in pet adoptions, along with increasing responsible pet ownership amongst pet owners…