Posted On: 2020-06-17
The Dog food segment is anticipated to capture the largest revenue share in the overall India pet food market during the forecast period– 6Wresearch.
India pet food market is expected to witness significant growth in the coming years owing to a spur in the pet adoption rate in the country in recent years along with the rising concern among the pet owners toward the proper health and development of the pets and the need to maintain their nutritional profile. Additionally, in the wake of the global pandemic COVID-19, the India pet food market has not been much hampered owing to a sudden upsurge in stockpiling of pet food during the initial period of the prolonged nationwide lockdown along with smooth availability of pet food through online and offline channels especially, specialized pet food stores.
According to 6Wresearch, India Pet Food Market size is projected to grow at a CAGR of 12.3% during 2020-26. Despite the availability of various other food products for feeding pets such as home-cooked food and raw meat, packaged food products tend to provide high nutritional value to pet animals and is gaining popularity in the pet care industry in India. The key driving factors behind the growing adoption of packaged pet food products are the varied options available for pets according to their breed and age along with the consideration for the use of potential ingredients, which tend to provide the desired nutrition for pet growth. All these factors bode well for the growing demand for pet food products in the years to come in India.
According to Kanchan Negi, Assistant Manager, Research and Consulting, 6Wresearch, “On the basis of ingredient types, the animal-derived ingredient segment in the overall India pet food market is expected to register the highest growth rate in the near future owing to the growing need for animal-based meat concentration to meet the increased nutritional needs of pets for the proper growth and development. “
“An increase in the consumption of veterinarian-based diet, which requires more animal protein for the proper growth of the animal is anticipated to trigger the demand for animal-derived pet food in the Indian pet food market in the coming years.”, Kanchan further added
According to Deepanshi Kumar, Research Associate, Research and Consulting, 6Wresearch, “On the basis of pet food deciphered by distribution channels, specialized pet food stores are expected to register the highest growth in the overall India pet food market in the coming years on the back of increased consumer preference to buy from specialized stores and quality assurance belief of consumers based on purchase made from specialized pet food stores.”
Some of the major companies in India's pet food market include Mars International, Himalaya Drug Company, Hill’s Pet Nutrition, Venky’s India, Purina Petcare, etc.
“India Pet Food Market (2020-2026)" report provides an in-depth analysis with 24 figures and 2 tables covered in more than 80 pages. The report estimates and forecasts the overall India pet food market by product types, pet types, distribution channels, ingredient types, and regions. The report provides an unbiased and detailed analysis of the India pet food market on-going trends, outlook, opportunities/high growth areas and market drivers, which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.