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02 August 2022
FMCG companies eye India’s growing pet market
Pandemic lockdowns accelerated an existing trend in India towards increased pet ownership; FMCG brands and others are taking note.
Why it matters
India is one of the fastest-growing pet care markets in the world, according to the managing director of Mars Petcare India, who cites a combination of factors, including rising incomes, smaller families, and changing attitudes toward pets – as well as the effects of lockdowns. Marketers will need to understand how owners feel about their pets and adapt their messaging accordingly.
There are now an estimated 30 million pets in the country and the number is growing at 11% a year, while the market for pet food alone is forecast to more than double to Rs 10,000 crore by 2025.
Just last week, Nestle India, the F&B giant, acquired the pet foods business of its fellow subsidiary Purina Petcare India, launched five years ago as a separate entity, giving it direct access to the pet market.
Health & beauty FMCG Emami is investing in a startup, Cannis Lupus Services India, offering Ayurvedic remedies for pets under the brand Fur Ball Story.
Mars Petcare, whose brands include Pedigree, Whiskas and IAMS, is expanding its Hyderabad pet food factory to meet rising domestic demand and to export to other Asian markets.
It’s not just FMCG companies that see an opportunity: last year, packaging firm Cosmo Films launched into the pet care business with its ZIGLY brand.