Insights into indian Pet Care
Organised by HITEX and Hyderabad Canine Club, PETEX INDIA is one of the largest pet care industry events in India. Being a gateway to the Indian pet care market, the event helps global pet care brands to showcase their products, understand market trends, generate highly targeted business leads and build brand recognition value.
S Kranthi, CEM, Hitex
The overall pet industry in India
Indian pet care market is witnessing rapid growth and attracting leading global pet care companies and brands. Indian pet care market was valued at $265 million in 2017 and is expected to grow at 13.9 percent annually to become a $430 million market by 2020. With an estimated 600,000 pets being adopted every year, the Indian pet care market has huge potential. Growth is recorded in all categories including pet-food, pet-pharmaceuticals, grooming, toys and accessories while pet food market is projected to cross $310 million by 2020.
In India, dogs are the most popular pets followed by cats, birds, and fish. Dog food segment is expected to continue its dominance as the largest revenue generator followed by cat and fish food segments. Pet parents are now focusing on essential food products that enhance the health and the well-being of pets. In line with this, pet care brands are introducing different specialized products that are rich in vitamins, thereby ensuring a high-quality diet for pets.
As the pet care markets in Europe and North America are heading towards saturation, Asia – with potential markets like India – is witnessing the entry of major international pet care brands. Indian pet care market is fairly untouched and there is still a huge ground to break. We believe that companies’ success will depend on their ability to devise effective marketing strategies to attract first-time consumers.
Increasing number of pets and pet parents
It is estimated that there are 4 million pet-parents in India. Various surveys clearly indicate that the number of pet parenting in India is on the rise. Higher spending power, sensitivity to animals and social media craze are fuelling the current trend of growing pet parenting in India. While technology and advent of online purchasing are prominent factors, change in culture is also playing a key role. Millennials and Generation Z consumers have embraced the pet-owning and pet-loving lifestyles to a far greater extent than their elders.
Positives of pet care industry
The growing trend of importing products from international pet care companies, increase in the number of Indian start-ups in pet care segments and their exports, more and more international companies and brands entering into the Indian market, and active participation of all stakeholders of the industry are good signs for the Indian pet care industry.
Growth and changes observed in pet industry from last five years
The last five years have been favourable in all ways for the pet care industry. Pet parenting in India has increased substantially and contributed towards growing demand of pet care products. Spending power of pet parents has also been on the rise giving pet care brands a high-potential market. Various leading international pet care brands have entered the Indian market while Indian pet care start-ups have also increased. Thanks to the demand for quality breeding, trained breeders are also on the rise. Many international veterinary clinics, pet parks, and pet resorts have made their way into the Indian cities. Government is taking various measures to ensure the well-being and safety of pets and this is a great sign for the pet and pet-lover communities and pet industry.
Hurdles to getting the international companies to India
Some of the major hurdles include the market being limited to products for only dogs and to some extent cats, restrictive food habits of pet parents, hassles with imports and exports, over 50 percent of the market share being owned by major brands and the tier-II market – which holds a huge potential being yet to be streamlined.
Biggest challenges the pet industry faces
One of the key challenges is that the most parts of the market are unorganised. Though market in tier-1 cities is more streamlined than it used to be a decade ago, market in tier-II cities is yet to be streamlined in order to realise its potential. Other challenges include minimal presence of pet care companies in the market and less marketing budgets for the companies and brands operating in the Indian market.
Journey of PETEX INDIA
Pet care industry in India has witnessed rapid growth in the last five years. However, there is an evident gap around events and platforms that bring pet care companies, industry experts and pet parents under a single roof. We have identified and analysed this gap and realised that the market has a huge potential. We started to work closely with pet care communities, canine clubs, veterinarians and industry experts and created PETEX INDIA in 2016.Our journey has been remarkable so far. The event has grown from hosting 60 exhibitors and 22,000 visitors in the first edition (in 2016) to hosting 200 exhibitors and 54,000 visitors in the third edition (in 2018). Exhibitors at PETEX INDIA include the top global and Indian pet care brands. The team is striving hard to ensure PETEX INDIA is at par with top international pet care events such as Interzoo and Pet Fair Asia.
PETEX INDIA in next 5 years
We aim to build PETEX INDIA as a benchmark for pet industry events in South Asia.We are focusing on trade development in India and South Asia by bringing together all the member countries through country pavilions under one roof. Other major areas of focus are creating awareness and educating all stakeholders from the pet care industry through newsletters, panel discussions, and interactive sessions by industry leaders and experts. Having run three successful editions in Hyderabad and getting ready for the fourth, we are planning to spread to other major cities of India in the next two years.
Reaching out to the target audience with D&P
We enjoyed working with Dogs & Pups right from the first edition of PETEX INDIA. Their authentic insights have helped us understand the market and plan the event more effectively. Thanks to the broad readership of the magazine, we could reach a larger target audience.We appreciate all the assistance provided by the dedicated team.