India’s pet industry continously rises which causes positive impact to start-ups and existing players of the industry.
For a long time, Indians have kept pets only for safeguarding reasons and fed them with leftover from the kitchen. This attitude still prevails in rural towns, but in Indian metropolitan ares pet owners see their pets as part of the family.
India’s pet industry has recorded a yearly increase of 22% since 2020.
According to Market Decipher, India’s pet care market value is INR 74,000 crores ($8.9B/€8.4B). Bonafide Research expects a value of $533 million in 2023 and even $1 billion by 2026.
Food, healthcare, grooming, and accessories mainly contribute to the industry’s growth.
“The availability of a wide range of pet products and services in India has made it easier for pet owners to take care of their pets and has contributed to the growth of the pet industry,” explained Wiggles‘ founder and CEO, Anushka Iyer, to GlobalPETS.
Iyer said that the number of Indian people who can afford pets has increased. Wiggles provides different pet services like healthcrae, grooming, boarding, and training.
Over the past 5 years, the number of pet start-ups has strongly increased in the country.
In order to revolutionize pet care, Garima Kaushal and Arnav Sahni have launched their community app Sploot. Both founders intened to simplify pet parents‘ life. Now, the app provides products and services to manage their pet’s schedule.
Sploot has just raise another investment of of INR 5.2 crore ($628K/€592K) from Info Edge after having received half a million dollars (€470K) from the same investor in May last year.
Vetic, a pet start-up assuming to be the first digital pet clinic chain in India, has raised $3.7 million (€3.46M) in a seed funding round from 11 different investors after it has launched just 3 months ago. The online chain intends to “promote the collaborative, multidisciplinary investigation of diagnosing and treatment” of pets while “elevating the clinic experience.”
The pet care and grooming business Zoivane was established in 2020 aiming to help pet owners with training and caring. After having received INR 5 crore ($603K/€570K) from venture capitalist GVFL Limited in December 2022, founders Nishma and Kshitij Singhal now sell cat and dog training, sprays, health products, and others.
Indian pet companies expect a further rising demand for supplies and pet services.
“There will be an increase in demand for top quality premium and organic products along with better quality vet services and more boarding services in the near future,” stated Anushka Iyer from Wiggles.
JUSTDOGS began in 2011 a small retailer in Ahmedabad. Now, JUSTDOGS is Indian’s biggest retailer operating 45 stores. The company has over 2 million customers and intends to increase the store number to 150 by 2025.
Heads Up For Tails started operations in 2008 as a “tiny kiosk” in a New Delhi mall. Nowadays, its retail network is formed by 48 locations, where it also sells its own private label products.
Heads Up For Tails was launched in 2008 and began as “tiny kiosk” in a mall in New Delhi. Its network now consists of 48 locations, offering even own private label products.
The pet food producer Drools plans to increase exports to 50 countries as well as to double its turnover by 2025.
Read the original article here – globalpetindustry.com
Advertisement
