Indian Pet and Equine Industry

Growth

The growth in the Indian pet market is driven by several factors. These are:

  • Increased number of pet adoptions
  • Rising disposable income
  • Higher awareness of dietary needs of pets and the benefits of pet food
  • Change in perception towards pets.

According to Euromonitor International, a London-based market intelligence firm, the pet population in India grew to 10 million in 2011. This has been constantly increasing year by year. On an average, 600,000 pets are adopted every year. In its revised 2007 figures, based on increased and sustaining growth, Goldmam Sachs has predicted that ‘from 2007 to 2020, India's gross domestic product (GDP) per capita in US$ terms will quadruple.' Moreover, it is believed that the Indian economy will surpass the United States by 2043. According to Euromonitor International, the Indian pet care market is estimated to reach $133 million by 2015.