Dr Deepak Pandey
The passion of being a pet parent is unmatched. It’s a joyous experience that’s full of learning. Here’s about the new-gen pet parenting and how the industry has evolved in the past decade. –by Dr Deepak Pandey
The dynamics have changed now from ‘social status of having a pet’ to ‘emotional and caring ones’. Many pet parents also prefer to adopt local native breeds.
Pousali with Romeo
You love them–you pamper them
As per 2018 reports, the current Indian market size is more than 200 million USD and pegged at 10-12 percent compound annual growth rate (CAGR) till 2024. Pet Food contributes more than 50 percent and Biologicals/Healthcare/Supplements/Grooming/Pet Utility contributes the rest. The scenario, especially in the pet food industry has seen a drastic change in the past five years. Pet parents have become more cautious, they are more aware, and of course, the purchasing power has also increased. All these factors contribute to the growth of the industry. Industry experts say that pet grooming and pet utility will witness highest growth in next 5-10 years.
Home is where your pet is!
A recent data suggests that there are around 12 million pets, including both cats and dogs in India. Considering space constraints, a lot of people prefer having smaller dog breeds in the metro cities. It becomes a tad bit easy to manage them. Also if you’re a millennial, we understand your new found love and adoration for cats. They have become popular as pets, especially in cities like Bangalore, Hyderabad, Pune, and Gurgaon.Exotic breeds are also a niche category which is seeing a huge surge in their demand. It will further categorize the market into Niche Exotic segment.
Increasing awareness
It is our responsibility to join hands and work towards increasing awareness on responsible pet parenting.Another challenge is lack of diagnostic facilities at Tier 2 and Tier 3 cities. There lies a scope of pet insurance which will improve overall pet healthcare system and modern facilities at Tier 2 and Tier 3 cities.
Make a better tomorrow
It is a ‘Customer First’ approach. They should also look to serve customer and fostering relationships. The need of the hour is innovative products and solutions. Digitalisation will also have a great impact on industry in next five years.
Fidomate – Evolving with the industry
Fidomate is a division of Globion India Pvt Ltd based out of Hyderabad (Suguna Holdings—parent company). The company aims at providing pet care medications online to make it accessible for everyone across the country. Based on the philosophy of emotional connect we believe that Pets Loyalty Deserves Equal Loyalty.
(Dr Deepak Pandey is AVP at Globion India Pvt Ltd, Hyderabad)