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Latest Decipher News
Sep 19, 2022
News provided by Share this article Share this article PUNE, India, Sept. 19, 2022 /PRNewswire/ -- Market Decipher has published its latest report, " India Pet and Pet Care Market " Size, Statistics, Growth Trend Analysis and Forecast Report, 2022 – 2032". The research estimates the Pet Care Market size at INR 74,000 Crores in 2022 and forecasts to reach INR 210,000 Crores by 2032, growing at a CAGR of 19.2% during 2022 to 2032. The fastest growing sectors include pet food which captures two-thirds of the market revenue followed by pet accessories, grooming, and healthcare. The Indian Pet Care industry is set to grow at a fast pace promoting companies like Emami and Nestle to enter the sector. This research includes each and every product and service market in pet care industry. Get research insights in detail: https://www.marketdecipher.com/report/india-pet-care-market "Market Decipher has completely revised the huge database on Pet Care Industry covering 100+ products. The latest insights and forecasts have revealed new areas of profitability. Insights on the market also shed light on some market sectors otherwise considered grey. India is one of the fastest-growing pet care markets in the world. India's pet care market is expected to grow to a value of 210,000 Crore by the end of the forecasted period at a CAGR of 19.2%, on account of rising nuclear families, double-income households, changes in lifestyle, urbanization, and increasing pet ownership. A number of people during the lockdown filled their emptiness by adopting a pet. This trend during the pandemic saw a rise in demand not only from metros but also from tier II and III cities" – Chandradeep Singh (analyst at Market Decipher) Pet care products assist in providing nutritional and pharmaceutical care to domestic pets. As people are becoming pet friendly, the emergence of pet care products other than food, including shampoos, and toys are making their way into the market. The pet care industry has expanded to pharmaceutical and nutraceutical industries along with the inclusion of medical care products like shampoos and collars that offer resistance against infections. Constantly developing market has led to the emergence of wellness and spas centers, grooming centers, and veterinary clinics to provide premium pet experience, that enhance pet living. The Indian pet food industry is worth about $498 million in 2021 India's pet food market is dominated by foreign brands, namely Mars International and Royal Canin India. Mars International is engaged in manufacturing pet food under its global brands Pedigree and Whiskas. Royal Canin India manufactures and supplies dog and cat foods worldwide. The company produces more than 40 types of dry dog food and 20 types of dry cat food, developed for a variety of ages, weights, sizes, and other factors. Many new companies are jumping into the market looking at the greater potential of this industry. In the coming few years, India is also expected to become a major exporter of pet-related products and accessories. Fur and Fabulous: How Pet Grooming Market is Growing The rise of numerous pet magazines containing well-groomed attractive pictures of pets has contributed towards the demand and spending for pet grooming products. Various e-stores offer accessories starting from basic ones to the most stylish and luxurious. The key companies in the pet grooming market are Himalaya, PetVeda, Choostix, etc. Pet Healthcare Market witnessing fast-paced growth after Covid-19 With increasing awareness about the good health and well-being of pets, the pet healthcare segment is also expanding. Products such as multivitamins, supplements, eye and ear care products, dental care/oral care products, diapers, etc. are some of the trending pet healthcare products in the market. The key companies in the pet healthcare market are Zydus Cadila, Becky's India, Hester AG, etc. Get this research at https://www.marketdecipher.com/report/india-pet-care-market Sales Channel of Pet Products: Online Sales at Boom The easy availability of pet care products is a major attraction factor for pet parents as they are available in supermarkets, online stores, pet shops, etc. With the organized sales channel and rising demand, the India Pet Care Market is expected to see robust growth in the future. Even though the online store segment holds the least market share, it is expected to be growing with the highest anticipated CAGR of 32.11% in the forecasted period. This pet boom has led to the upcoming of various pet startups across the country. The key channel for sales of pet products are Amazon, Heads Up For Tails, Flipkart, etc. Heads Up For Tails is a Delhi-based pet-couture startup, it offers more than 1000 products spanning 80 brands, including a private label organic grooming line, and an immensely popular selection of personalized dog collars, beds, wag tags, and grooming services across 35 grooming centers in nine cities throughout India. Recent Developments by Companies: Nestle acquired the pet foods business of Purina Petcare India. Emami recently announced its decision to invest in a pet care start-up called Cannis Lupus Services India. Mars Petcare India announced to invest ₹500 crores for the expansion of its Hyderabad pet food factory Cosmo Films, a leading solution provider in the packaging, lamination, and labeling forayed into the pet care business with the brand ZIGLY. Customize this Report: https://www.marketdecipher.com/report/india-pet-care-market
Decipher Frequently Asked Questions (FAQ)
When was Decipher founded?
Decipher was founded in 2000.
Where is Decipher's headquarters?
Decipher's headquarters is located at 5250 North Palm Avenue, Fresno.
What is Decipher's latest funding round?
Decipher's latest funding round is Acquired.
Who are the investors of Decipher?
Investors of Decipher include FocusVision and DCA Capital Partners.
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