In brief
The Indian pet care market is booming due to changing societal values and increased spending on pets, with projections indicating growth to over $7 billion by 2028 amidst evolving consumer trends.
In India, the love for pets, often referred to as "fur babies," is evolving into a substantial industry, particularly among the affluent and middle-class urban populations. Neha Bapna, a 43-year-old entrepreneur from Mumbai, exemplifies this trend as she treats her four-year-old Shih Tzu, Muffin, like her child, ensuring he receives specialized, hypoallergenic food that costs significantly more than regular dog food. "I have spent sleepless nights trying to figure out what food suits him. He is my child," she shares, indicating a deep emotional bond that many pet owners now share with their animals.Once a niche luxury for the wealthy, the pet care market has expanded, reflecting a wider socio-economic shift. According to Technopak consultancy's Ankur Bisen, the pandemic was a catalyst, creating a surge in pet ownership as individuals sought companionship while in isolation. The number of pets in Indian households is forecasted to rise from 26 million in 2019 to 32 million by 2024, according to a Redseer report.Nikhil Bhushan and Lakshna Gulati of Delhi, who share their lives with rescued dog Mowgli and cat Marmalade, also embrace their roles as "pet parents." They appreciate the joy pets bring to their home, feeling fulfilled without having biological children. The couple spoils their pets with toys, reflecting a trend where monthly expenditures for pet care have increased significantly; Indians spent around $3.6 billion on pet products and services in 2024 compared to $1.6 billion in 2019.The growth in the pet care industry is also driven by a rising desire for premium products and services. With pet care now encompassing everything from insurance to specialized veterinary care, the landscape is dramatically shifting. "Twenty years ago, pet care was limited to basic services like vaccination and veterinary care," says Pankaj Poddar of Zigly, a leading pet care company. Now, many pet owners spend substantial portions of their incomes on their pets’ well-being.Luxury outings, such as vacations in pet-friendly accommodations, are becoming increasingly common. Ms. Bapna, for instance, consistently opts for first-class train tickets for Muffin, indicating a willingness to invest in her pet's comfort.Despite this burgeoning market, challenges remain, particularly regarding the lack of pet-friendly infrastructure. Traveling with pets can be tricky, as many eateries still do not welcome animals, limiting options for pet parents. However, Ms. Bapna notes a positive trend with the emergence of social activities and venues catering to pets, offering hope for the future of pet-friendly environments.As India continues to embrace pet ownership, the future of its pet care market looks promising, with an expected increase to more than $7 billion by 2028, aligning with global trends in the pet care economy.
