As urban India's socioeconomic dynamics evolve, the ongoing boom in the pet care industry signifies a cultural transformation where pets are increasingly regarded as family members. This shift is largely driven by affluent and middle-class Indians, who view their pets not just as animals, but as "fur babies" deserving of pampering, attention, and quality care.
Booming Pet Care Industry in India: A Sign of Changing Attitudes towards Pets
Booming Pet Care Industry in India: A Sign of Changing Attitudes towards Pets
The rapid growth in India's pet care market reflects a cultural shift in how pets are perceived and treated in society.
In the past few years, the pet population in Indian households has surged from 26 million in 2019 to a staggering 32 million projected for 2024, as reported by Redseer. The surge can be significantly attributed to the pandemic, which sparked a wave of pet adoptions, driven by the desire for companionship during lockdowns. This recent trend, noted by Ankur Bisen from Technopak, has engaged diverse groups, including young professionals and couples opting not to have children, further normalizing the presence of pets in urban households.
Consumers like Neha Bapna, an entrepreneur from Mumbai, exemplify this trend. She treats her Shih Tzu, Muffin, as a child, investing lavishly in his diet and travel. Insights from a Redseer report indicate that the pet care market in India reached a value of $3.6 billion in 2024, a substantial increase from $1.6 billion in 2019. This growth has been further fueled by rising interests in services such as pet boarding, health insurance, and specialized veterinary care, indicating that pet ownership extends well beyond mere companionship.
The evolution of family structures, characterized by late marriages and smaller household sizes, contributes to the humanization of pets in urban India. For instance, Nikhil Bhushan and Lakshna Gulati, a couple residing in Delhi, have welcomed pets into their lives, finding joy and fulfillment in caregiving without the complexities of parenthood.
With pet care now extending to luxury services and products, some owners are willing to allocate significant portions of their incomes for their pets; spending can reach as high as 10% for some individuals. However, there still exists a demand for affordability, leading to the rise of companies providing budget-friendly services to accommodate the middle-class clientele.
Nevertheless, the Indian pet care industry's potential to expand is tempered by present challenges such as economic inequality and infrastructural limitations, including insufficient pet-friendly venues. While many pet owners, like Bhushan and Gulati, face hurdles during travel, they remain hopeful for more inclusive environments.
Experts foresee further positives for the pet care market in India, with the global sector estimating a reach of $500 billion by the end of the decade. The Redseer report predicts that India's market could double to surpass $7 billion by 2028, granted the various challenges are addressed.
Ultimately, these shifts reflect a larger societal transformation in Indian attitudes towards pets, promoting the idea that they are cherished family members, crucial to the emotional well-being of their owners.
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Consumers like Neha Bapna, an entrepreneur from Mumbai, exemplify this trend. She treats her Shih Tzu, Muffin, as a child, investing lavishly in his diet and travel. Insights from a Redseer report indicate that the pet care market in India reached a value of $3.6 billion in 2024, a substantial increase from $1.6 billion in 2019. This growth has been further fueled by rising interests in services such as pet boarding, health insurance, and specialized veterinary care, indicating that pet ownership extends well beyond mere companionship.
The evolution of family structures, characterized by late marriages and smaller household sizes, contributes to the humanization of pets in urban India. For instance, Nikhil Bhushan and Lakshna Gulati, a couple residing in Delhi, have welcomed pets into their lives, finding joy and fulfillment in caregiving without the complexities of parenthood.
With pet care now extending to luxury services and products, some owners are willing to allocate significant portions of their incomes for their pets; spending can reach as high as 10% for some individuals. However, there still exists a demand for affordability, leading to the rise of companies providing budget-friendly services to accommodate the middle-class clientele.
Nevertheless, the Indian pet care industry's potential to expand is tempered by present challenges such as economic inequality and infrastructural limitations, including insufficient pet-friendly venues. While many pet owners, like Bhushan and Gulati, face hurdles during travel, they remain hopeful for more inclusive environments.
Experts foresee further positives for the pet care market in India, with the global sector estimating a reach of $500 billion by the end of the decade. The Redseer report predicts that India's market could double to surpass $7 billion by 2028, granted the various challenges are addressed.
Ultimately, these shifts reflect a larger societal transformation in Indian attitudes towards pets, promoting the idea that they are cherished family members, crucial to the emotional well-being of their owners.
Follow Quanta.Report for more insights on emerging trends in science and technology.
