What is driving growth in the pet care market?

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 priortise the health and wellness of their furry companions. The key trends driving this growth are -

1.Young ‘Pawrents’: More and more young parents are adopting pets in India, with a significant share having children less than 6 years old. Market estimates suggest that by 2025, 1 in 3 pet parents will be a Millennial or Gen Z.

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

3.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.

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

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

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