• Thu. Sep 22nd, 2022

Pet care industry grows post-pandemic; Attracts FMCG Companies – The New Indian Express

ByStephanie M. Akbar

Jul 31, 2022

By PTI

NEW DELHI: Post-pandemic rise in pet adoption pushes India’s pet care industry to hit Rs 10,000 crore by 2025, prompting FMCG majors like Nestle India and Emami to enter in the area.

The pet food market is currently around Rs 4,000 crore and is expected to grow significantly over the next five years. Mars Petcare and Himalaya Wellness Company, among others, are the two main companies operating in the segment.

Mars Petcare is a division of global confectionery giant Mars Inc.

Last week, Nestlé India entered the segment by acquiring the pet food business of its subsidiary Purina Petcare India for Rs 123.5 crore, giving major FMCG direct access to this fast-growing business in the country.

Earlier this month, another FMCG company, Emami, announced plans to invest in a pet care startup, Cannis Lupus Services India, offering Ayurvedic remedies for pets under the brand “Fur Ball Story”.

According to Mars Petcare India Managing Director, Salil Murthy, India is “one of the fastest growing pet care markets” in the world. Growth is being driven by factors such as rising incomes, nuclear families and changing attitudes towards pets and pet owners.

“A number of people during the lockdown have filled their void by adopting a pet. This trend during the pandemic has seen an increase in demand from not only metros but also Tier II and Tier III cities,” Murthy said. .

Now, pet parents are aware of the difference between the nutritional needs of pets and the fact that human food does not meet the needs of pets, and therefore the requirement for nutritionally balanced manufactured foods for their pets, he said.

“The domestic manufactured pet food market is around Rs 4,000 crore in 2021 and is expected to grow significantly over the next five years,” he said.

According to media reports, the overall dog food market in India is expected to grow at a CAGR of 15% in current value over the next 5 years.

“The Indian pet food market has been on the rise for quite some time now. The Indian pet care industry is estimated to be worth USD 434 million (retail sales value) in 2021 and is expected to reach USD 1,356 million USD (Rs 10,770 crore) by 2025. The industry has seen annual growth of more than 15% over the past decade,” Murthy said.

New age retail channels such as e-commerce, omni channel initiatives, and hyperlocals like Swiggy and Dunzo have greatly expanded organizational reach.

“Quick trade platforms help pet owners receive the products the same day or within hours. This has led to strong growth in these platforms, and it continues to go from strength to strength,” Murthy added.

Edelweiss Financial Services chief executive Abneesh Roy said pet food is now a big market growing at 20%.

Due to Covid a higher prevalence of pets is occurring.

FMCG companies like “Emami has entered the natural and Ayurvedic side of pet food in which Himalaya is a key player,” he said.

Earlier this week, Nestle India President and CEO Suresh Narayanan said his pet care business has an exciting future and will be a growth driver for the company.

During the company’s earnings call, Narayanan said pet care is currently among the fastest growing category. Today, there are approximately 30 million pets in the country and its growth is 11% per year.

According to Narayanan, “portfolio expansion into fast-growing segments like wet cat food” and expansion into Tier 1 cities and e-commerce play an important role. He has “the opportunity to unleash the full potential of business now”, he added.

Murthy said India historically had a much larger number of dogs, but the number of pet cats was smaller, but growing faster.

Citing data from Euromonitor, he said: “In 2022, cat food is expected to continue to experience higher growth than dog food globally, with more and more people adopting cats as they are easy to maintain.

Mars Petcare, which owns popular brands – Pedigree, Whiskas, IAMS and Temptations – last year announced an investment of Rs 500 crore for the expansion of its pet food factory in Hyderabad to meet growing domestic demand and exports to Asian markets.

Emami Vice President and Managing Director Harsha V Agarwal said on July 21 that the pet care segment in India is growing rapidly.

Today, with the increase in disposable income, more and more people are adopting pets, especially dogs.

Last year, Cosmo Films, a leading solution provider in the packaging, lamination, labeling and synthetic paper segments, made a foray into the pet care industry with the ZIGLY brand.

NEW DELHI: Post-pandemic rise in pet adoption pushes India’s pet care industry to hit Rs 10,000 crore by 2025, prompting FMCG majors like Nestle India and Emami to enter in the area. The pet food market is currently around Rs 4,000 crore and is expected to grow significantly over the next five years. Mars Petcare and Himalaya Wellness Company, among others, are the two main companies operating in the segment. Mars Petcare is a division of global confectionery giant Mars Inc. Last week, Nestlé India entered the segment by acquiring the pet food business of its subsidiary Purina Petcare India for Rs 123.5 crore, giving the FMCG principal direct access to this rapid growth. business in the country. Earlier this month, another FMCG company, Emami, announced plans to invest in a pet care startup, Cannis Lupus Services India, offering Ayurvedic remedies for pets under the brand “Fur Ball Story”. According to Mars Petcare India Managing Director, Salil Murthy, India is “one of the fastest growing pet care markets” in the world. Growth is being driven by factors such as rising incomes, nuclear families and changing attitudes towards pets and pet owners. “A number of people during the lockdown have filled their void by adopting a pet. This trend during the pandemic has seen an increase in demand from not only metros but also Tier II and Tier III cities,” Murthy said. . Now, pet parents are aware of the difference between the nutritional needs of pets and the fact that human food does not meet the needs of pets, and therefore the requirement for nutritionally balanced manufactured foods for their pets, he said. “The domestic manufactured pet food market is around Rs 4,000 crore in 2021 and is expected to grow significantly over the next five years,” he said. According to media reports, the overall dog food market in India is expected to grow at a CAGR of 15% in current value over the next 5 years. “The Indian pet food market has been on the rise for quite some time now. The Indian pet care industry is estimated to be worth USD 434 million (retail sales value) in 2021 and is expected to reach USD 1,356 million USD (Rs 10,770 crore) by 2025. The industry has seen annual growth of more than 15% over the past decade,” Murthy said New age retail channels such as commerce electronics, omni-channel initiatives, and hyperlocals like Swiggy and Dunzo have greatly expanded organizational reach.” Quick commerce platforms help pet owners receive products the same day or within hours. This has led to strong growth in these platforms, and it continues to grow,” added Murthy. Edelweiss Financial Services Executive Director Abneesh Roy said pet food is now a big market in 20% growth Due to Covid higher prevalence of pets is occurring FMCG companies like “Emami has entered into the natural and Ayurvedic side of pet food in which Himalaya is a key player” Earlier this week, Nestlé India Chairman and CEO Suresh Narayanan said his pet care business had an exciting future and would be a growth driver for the company. During the company’s earnings call, Narayanan said pet care is currently among the fastest growing category. pets in the country and its growth is 11% per year. According to Narayanan, “portfolio expansion into fast-growing segments like wet cat food” and expansion into Tier 1 cities and e-commerce play an important role. He has “the opportunity to unleash the full potential of business now”, he added. Murthy said India historically had a much larger number of dogs, but the number of pet cats was smaller, but growing faster. Citing data from Euromonitor, he said: “In 2022, cat food is expected to continue to experience higher growth than dog food globally, with more and more people adopting cats as they are easy to maintain. Mars Petcare, which owns popular brands – Pedigree, Whiskas, IAMS and Temptations – last year announced an investment of Rs 500 crore for the expansion of its pet food factory in Hyderabad to meet growing domestic demand and exports to Asian markets. Emami Vice President and Managing Director Harsha V Agarwal said on July 21 that the pet care segment in India is growing rapidly. Today, with increasing disposable income, more and more people are adopting pets, especially dogs. Last year, Cosmo Films, a leading solution provider in the packaging, lamination, labeling and synthetic paper segments, made a foray into the pet care industry with the ZIGLY brand.


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