RAPID GROWTH OF INDIAN PET CARE MARKET
India is witnessing a pet care boom. Now people have started opening the luxury pet hotels which are completely dedicated to pets lifestyle, that boasts of royal suites and family suites for overnight stays, and also offers day boarding, spa services, pet boutique, and many other services. With the passage of time, the pet market of the country is increasing and people are involving more in keeping the pets and investing in the petcare. Let’s have a look at the pet market of the country
Reasons to Invest In Pet Care Industry
- Rapid urbanization, coupled with rising disposable incomes and shift to nuclear families, is driving more people to get pets. This trend is encouraging higher spending on pet care and giving rise to opportunities to commercialize pet products. Pet owners these days are more aware of the welfare and needs of their pets. Now people are looking for nutrition, not just the food. According to the Euromonitor, the global pet care industry is growing at about 5% a year and is projected to reach $202 billion by the end of 2025.
- Apart from the food now the pet grooming and training institutes are also placing their footprints in the Indian market. E-commerce companies selling pet products are doing good business in the market.
- Be it any sector, food, grooming and training the pet care market is growing enough to attract further investments. As the pet care market is growing, foreign brands will be investing more in the Indian pet care market.
With the passage of time pet care industry will mark it’s a remarkable presence in the market because the rate of keeping pets is increasing day by day.