FMCG companies eye India’s growing pet market  | WARC | The Feed

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. 

Background

• 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.

Sourced from Economic Times, Mint