Pet Food - India

India

Revenue in the Pet Food market amounts to €0.59bn in 2024. The market is expected to grow annually by 12.64% (CAGR 2024-2029).
In global comparison, most revenue is generated in the United States (€55,400m in 2024).
In relation to total population figures, per person revenues of €0.41 are generated in 2024.
In the Pet Food market, volume is expected to amount to 0.75bn kg by 2029. The Pet Food market is expected to show a volume growth of 8.8% in 2025.
The average volume per person in the Pet Food market is expected to amount to 0.3kg in 2024.

Key regions: Russia, Spain, Philippines, United Kingdom, India

Mercado

Región

Comparación de regiones

Moneda

Analyst Opinion

The Pet Food Market in India is facing subdued growth due to factors such as changing consumer preferences, increasing competition, and supply chain challenges. Despite this, the market is still experiencing growth, driven by the convenience of online shopping and rising pet ownership in the country.

Customer preferences: With the increasing number of pet owners in India, there is a growing trend towards premium and organic pet food products. This shift is driven by a rising awareness of the health benefits of natural ingredients for pets. Additionally, there is a growing demand for customized and tailored pet food options, reflecting the cultural value placed on individualized care for pets. This trend is further amplified by the rise of e-commerce platforms, providing convenience and accessibility for pet food purchases.

Trends in the market: In India, the Pet Food Market is experiencing a shift towards premium and organic pet food products as pet owners become more health-conscious and seek higher quality options for their furry companions. This trend is expected to continue as the Indian pet food market is projected to grow at a CAGR of 17.8% from 2020 to 2025. This growth is driven by the rising pet ownership and increasing disposable income in the country. Additionally, the adoption of e-commerce and online retail channels for pet food purchases is on the rise, making it easier for pet owners to access a wider variety of products. This trend is significant for industry stakeholders as it presents new opportunities for market players to expand their product offerings and cater to the evolving needs and preferences of Indian pet owners. It also highlights the potential for international players to enter the Indian market and tap into its growing demand for premium pet food products. However, with this shift towards premiumization, there may also be challenges for smaller and local players to compete with larger and established brands. As such, it is crucial for industry stakeholders to stay updated on these trends and adapt their strategies accordingly to stay competitive in the dynamic Indian Pet Food Market.

Local special circumstances: In India, the Pet Food market is driven by the increasing trend of pet ownership and the growing awareness of pet health and nutrition. The country's diverse cultural and dietary preferences also play a significant role in shaping the demand for different types of pet food products. Additionally, India's stringent regulatory framework for pet food standards and ingredients impacts the market's supply chain and product offerings. In contrast, the Pet Food market in Brazil is heavily influenced by the country's large and affluent urban population, leading to a demand for premium and organic pet food options.

Underlying macroeconomic factors: The Pet Food Market within The Food market in India is heavily influenced by macroeconomic factors such as GDP growth, inflation rates, and consumer spending patterns. As the Indian economy continues to grow, the demand for premium pet food products is expected to rise. In addition, government initiatives promoting pet ownership and increasing disposable income of the middle-class population are also contributing to the growth of the market. However, challenges such as high import tariffs and strict regulations on pet food ingredients may hinder market growth in the country.

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on the total consumer spending on food, which comprises all private household spending on food that is meant for at-home consumption (out-of-home consumption is not accounted for).

Modeling approach:

Market sizes are determined through a top-down approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending, and consumer price index. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the exponential trend smoothing is well suited for forecasting the Food market with a projected steady growth. The main drivers are GDP per capita and consumer spending per capita.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year.