MARKET OUTLOOK
The pet healthcare market in India is expected to grow at a CAGR of 3.17% over the forecasting period of 2019-2025.
Rapid urbanization, rising disposable incomes and pet humanization are the main factors driving value and volume growth in India’s pet healthcare market. Moreover, as people’s disposable income has increased, they have been demanding for premium products. The increasing trend where families consider pets a member of their family is creating scope for pet healthcare product manufacturers to proliferate in the country. Many large companies in the pet healthcare market are acquiring smaller manufacturers that are specialized in certain pet-related products such as pet snacks, pet grooming products and other related products & services to strengthen their product portfolio, that is driving the Indian pet healthcare market. In India, pets are not only companions for their pet owners but are also a style statement for some. The owners care about their pets’ look and thus use a lot of pet grooming products. The increase in the awareness about wellbeing and good health of pets augments the growth of the Indian pet healthcare market.
COMPETITIVE OUTLOOK
The key companies profiled in the report on India’s pet healthcare market include Bayer AG, Cipla Limited, Ancol Pet Products, Ayurvet Ltd., Beaphar and Zoetis, Inc.