What is driving growth in the pet care market?

India's pet care spending is growing faster than the number of pets — the shift is in how much care each animal now receives, and who is buying it.

Published 20 Nov 2024 · By Draavi

The pet care market in India is estimated to grow from $3.5 billion in 2024, to about $7 billion in FY28, as pet parents increasingly prioritise the health and wellness of their furry companions. The key trends driving this growth are set out below.

$3.5B Market size · 2024 India pet care market.
~$7B Estimated · FY28 Where the market is expected to reach.
2 in 3 Pet parents · first-timers 69% of Indian pet parents are first-time owners.
~30% Of pet care spends Healthcare — vaccinations and vet consultations.

Sources: market size and FY28 projection — Redseer Strategy Consultants, India’s Petcare Market: Opportunities in an Evolving Market (October 2024). Healthcare share of spend — Redseer, Pet Parenting in India: Redefining the Future of Petcare (October 2024, survey of about 500 pet parents in metro cities). First-time pet parents — Mars Petcare with Ipsos, Global Pet Parent Study, India findings (December 2024, 1,000 respondents in India).

Key trends

Six trends driving the growth

Six shifts in who owns pets in India, and in what those owners now expect to buy.

  • 01

    Young ‘Pawrents’

    More and more young parents are adopting pets in India, with a significant share having children less than 6 years old. Mars Petcare’s 2024 Global Pet Parent Study found that 2 in 3 pet parents in India are first-time owners, and that most of them are Gen Z or Millennials.

  • 02

    Personalized services

    There is a rise in demand for convenient and customized pet care services, driving growth of subscription services and dedicated stores.

  • 03

    Pet humanization

    Pet parents have deeper emotional bonds with their pets, and are more focused on the wellness of their pets. Healthcare expenses such as vaccinations and vet consultations are estimated to account for almost 30% of the overall pet care spends.

  • 04

    Use of technology

    With the younger and more tech savvy pet parents, there is growing use of products like pet trackers and smart feeders.

  • 05

    Informed decision making

    Pet parents, especially Millennials and Gen Z, depend increasingly on research driven decision-making for their pets’ care.

  • 06

    Organic products

    There is an increased demand for premium and natural ingredient-made products, driven by nutrition concerns and subsequent search for health supplements.

Tags

PetCare Pawrents PetHumanization Organic PetTech

We have advised in this category

Draavi has advised two pet food brands: Benny’s Bowl (₹12 Crore, Pre Series A) and Furrmate (₹1.5 Crore, Pre Seed). Both rounds have closed.

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1 Benny's Bowl Pet food · Consumer, Pre Series A Closed ₹12 Cr
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