Mars International Leading INR 1460 Cr Pet Food Market in India
Increasing
disposable income, rapid urbanization coupled with the trend of keeping pets as
companions and growing concerns regarding pets’ nutritional requirements are expected
to drive India pet food market through 2022
According to TechSci Research
report, “India Pet Food Market By Pet Type, By Food Type,
Competition Forecast & Opportunities, 2012 – 2022”, pet food market in India is projected to exhibit a CAGR of over 18%
during 2017-2022, on account of evolving
pet food demand from middle class population, increasing pet population and influence
of western culture. In addition, augmenting pet ownership, specially among
nuclear families for security reasons and declining pets’ death rate are also
estimated to contribute to the market in the coming years. According to National
Council of Applied Economic Research, in 2016, middle class population in India
stood at 267 million, which is expected to reach 547 million by 2025. As per TechSci
Research Estimates, in 2016, the country held a pet dog population of 16,136.07
thousand, whereas dog owning households exhibited a percentage of 5.55%,
thereby indicating a positive future for the market.
Browse 5 market data Tables and 31 Figures
spread through 90 Pages and an in-depth TOC on "India Pet Food Market"
https://www.techsciresearch.com/report/india-pet-food-market-by-pet-type-dog-cat-fish-etc-by-food-type-dry-vs-wet-by-point-of-sales-dedicated-pet-store-supermarket-hypermarket-online-retail-etc-by-region-and-leading-city-competition-forecast-opportunities/1052.html
Rising dog population and perception of being them as the best
companions have led the pet owners to spend more on healthy functional dog foods, which are widely available in
the market, hence, dog food holds a majority share in India
pet food market and is anticipated to continue its dominance through 2022. The
second largest share is controlled by cat food followed by fish food and
others. Among the food types, dry food is considered as the
most convenient type of food, for storage and feeding and this food type commanded
the market in 2016, however, its share is forecast to observe a marginal
downturn by 2022, on the back of escalating demand for wet food as it is good source of
hydration. Some of the leading players operating in India pet food market include Mars International, Indian Broiler Group, Gitwako
Farms, Venky’s, Avanti Overseas, among others.
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“Increasing online marketing, improving pet
adoption rate and growing awareness to provide balanced & nutritious diets
to pets are projected to drive the market during the forecast period. Besides
that, introduction of innovative products, rising sense of social responsibility, accelerating urban population,
and elevating demand for organic and vegetarian
pet food products are likely to positively impact the market over
the course of next five years. Moreover, evolving demand from dedicated pet
stores, especially in the country’s south region, is among other major factors likely
to have a positive influence over the growth in the coming years.”, said Mr. Karan Chechi,
Research Director with TechSci Research, a research based global management
consulting firm.
“India Pet
Food Market By
Pet Type, By Food Type, Competition Forecast
& Opportunities, 2012 – 2022” has evaluated the future
growth potential of India pet food market and provides statistics and information
on market size, structure and future market growth. The report intends to
provide cutting-edge market intelligence and help decision makers take sound
investment evaluation. Besides, the report also identifies and analyzes the emerging trends along
with essential drivers, challenges and opportunities present in India pet
food market.
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