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市場調查報告書
商品編碼
1661603
印度的寵物市場評估:寵物產品市場,寵物服務市場,各地區,機會及預測,2018~2032年India Pet Market Assessment, Pet Product Market Pet Service Market, By Region, Opportunities, and Forecast, FY2018-FY2032F |
近年來,印度寵物市場在寵物用品和服務方面呈指數級增長,到 2024 財年已達到 105 億美元。預計預測期內市場複合年增長率為 5.65%,到 2032 年達到 162 億美元,推動因素包括主要家庭增加、寵物人性化、寵物擁有量的市場估計和預測變化、雙收入家庭、城市化以及對寵物食品和管理的認識不斷提高。隨著飼養寵物數量的增加和寵物主人收入的提高,市場顯示出成長跡象。寵物護理對每個寵物主人來說意味著不同的事情,但它主要圍繞著寵物健康、衣服和配件、美容、訓練、營養食品和娛樂。
此外,印度的寵物市場受人類健康和情感利益的驅動。與寵物互動可以減輕焦慮、壓力、憂鬱,甚至改善心血管健康。與寵物一起進行高品質的運動不僅可以增加多巴胺和血清素,還可以降低三酸甘油酯和膽固醇水平。寵物主人可以在寵物店、訓練課程、醫療機構等與初次見面的人互動。因此,寵物被認為是主人的社交潤滑劑。
上述公司尚未根據市場佔有率保留訂單,並且可能根據研究工作期間可用的資訊而發生變化。
The India Pet Market, in terms of pet products and services, has experienced an escalation in recent years and reached a value of USD 10.5 billion in FY2024. The market is anticipated to witness a CAGR of 5.65% during the forecast period and is estimated to reach USD 16.2 billion by FY2032 on account of rising elementary family set-ups, pet humanization, change in perceptions towards pet ownership, double-income households, urbanization, and increasing awareness of pet food & management. The market is showing signs of growth owing to the increase in the number of pets and pet owners' incomes. Pet care means something different to every pet parent, but at its core, it covers pets' health, apparel & accessories, grooming, training, and nutritious food, and entertainment.
Furthermore, India pet market is driven by human health and emotional benefits. Pet companionship reduces anxiety, stress, and depression, and even improves cardiovascular health. Quality exercising with pets not only boosts dopamine and serotonin but lowers triglyceride and cholesterol levels. Pet owners get to socialize with new people in pet stores, training classes, and medical places, therefore pets are considered as a social lubricant for their owners.
Pet Humanization Has Resulted in Pet Premiumization
The concept of treating pets as a human is called pet humanization. Growing focus on sustainable products, organic food, and naturally sourced ingredients boosts pet industry revenue, and for that reason pet parents seek higher quality goods and luxurious accessories. Product marketers are emphasizing their portfolios to meet pet owners' demands like customized beds, grooming products, chic leashes, and collards. New profitable segments have been discovered because of the most recent insights and projections. Additionally, food players focus on building premium-level, human-grade, organic, hypoallergenic, and holistic pet food for their customers.
Burgeoning Opportunities in India Pet Market
The robust growth of the pet market provides many employment opportunities and increases the country's revenue, with many entrepreneurs opting to join the recession-free pet industry. Numerous start-ups in pet healthcare, specialty pet food, pet insurance, and related fields compete for pet parents' attention with their unique products and service offerings. For instance, Heads up for Tails (Delhi), Licks and Crunch (Indore), Captain Zack (Mumbai), Dogsee Chew (Bengaluru), etc are some budding startups with the mission to create a personalized journey for pets in different segments.
Increasing Adoption of Companion Animals
The increasing adoption of companion animals drives considerable growth in India's pet market. Pets are becoming common in households, leading to a demand for premium products and services, such as high-quality pet food, luxury grooming, and accessories. Health and wellness have become priorities, resulting in a surge in organic and hypoallergenic pet foods and preventive healthcare services. Technological advancements, like smart pet devices, cater to tech-savvy owners, while sustainability trends push for eco-friendly products. This burgeoning market creates numerous economic opportunities, encouraging entrepreneurial ventures in pet healthcare, insurance, and specialty services, ultimately reshaping the industry with innovative solutions.
For instance, in April 2024, Petlibro Inc. has unveiled the Polar, a first-of-its-kind refrigerated wet food feeder for pets. The feeder uses advanced semiconductor cooling technology to keep wet food fresh for up to three days. It also features smart app control for convenient scheduling and monitoring, ensuring pets receive fresh meals even when owners are away.
Expansion of Major Corporations into Pet Care
A notable trend propelling the growth of India's pet care market is the entry of established consumer goods companies into the sector. These corporations leverage their extensive distribution networks, brand recognition, and manufacturing expertise to tap into the increasing demand for quality pet products. By diversifying their portfolios to include pet care items, these companies capitalize on existing consumer trust and contribute to the market's overall expansion.
For instance, in August 2024, Godrej Consumer Products Limited (GCPL) announced its foray into the pet care industry through its subsidiary, Godrej Pet Care. The company plans to invest INR 500 crore (approximately USD 57.75 million) over five years, with production slated to commence in the second half of fiscal year 2026. Godrej Agrovet will be the manufacturing and R&D partner, underscoring the group's commitment to establishing a strong foothold in the pet care segment.
Impact of COVID-19 on India Pet Market
COVID-19 has negatively impacted many industries, but the Pet industry is an exception. People were experiencing stress and anxiety at the time of the pandemic, due to which there was a rise in demand for pets and increased adoption rates. Restrictions in mobility and remote working trends have increased the demand for pets. Due to the outbreak, many related industries, such as the pet food market, witnessed significant growth owing to the transition towards packaged food products. Moreover, during these times, the empathy level of people toward pets increased, and this trend seems to continue.
Key Players Landscape and Outlook
International pet care brands are currently making a substantial breakthrough in the Indian Market due to the western market becoming saturated, thereby, creating a significant scope and commercial potential for the Indian market. For instance, in September 2024, the Andhra Pradesh-based Growel Group, known for its aquaculture feeds and seafood processing since 1994, launched its pet food brand, Carniwel, targeting dogs and cats. The company aims to capture a larger market share amid rising pet adoption and disposable incomes. Carniwel products are already available in over 4,000 outlets across 200 cities, with plans to commence exports in the coming months.
8.2.1 By Pet Type
Companies mentioned above DO NOT hold any order as per market share and can be changed as per information available during research work