India’s Pet Care Boom: A New Era of Spending
In India, pet ownership is undergoing a significant transformation, with many urban dwellers treating their pets as family members. Neha Bapna, a Mumbai entrepreneur, exemplifies this trend as she prioritizes her Shih Tzu, Muffin, even taking him on first-class train journeys. The pet care industry in India has nearly doubled in value recently, driven by changing social norms and the pandemic’s impact on companionship.
Changing Attitudes Towards Pet Ownership
The perception of pets in India is evolving rapidly. Once considered luxuries for the wealthy, pets are now integral to many households, especially among affluent and middle-class families. Neha Bapna, who spends significant amounts on her dog Muffin’s hypoallergenic diet and travel, reflects this shift. “He is my child; I do not want him to have any trouble,” she states, highlighting the deep emotional bonds pet owners are forming with their animals. According to a report by consulting firm Redseer, the number of pets in Indian households has surged from 26 million in 2019 to an estimated 32 million by 2024. This increase is attributed to various factors, including late marriages, smaller family sizes, and changing social norms. Ankur Bisen, a senior partner at Technopak, notes that the COVID-19 pandemic created a heightened need for companionship, leading many individuals and families to adopt pets.
Financial Commitment to Pet Care
The financial commitment to pet care in India has seen a remarkable rise. In 2024, spending on pet products and services reached $3.6 billion, up from $1.6 billion in 2019. This growth is fueled by emerging trends such as specialized veterinary care, pet boarding, and insurance. Pankaj Poddar, CEO of pet care company Zigly, emphasizes that pet owners are now willing to invest significantly in their pets’ well-being, often spending up to 10% of their income on pet-related expenses. For instance, Neha Bapna allocates between 25,000 to 40,000 rupees ($290 to $480) monthly for Muffin’s needs, including travel and dietary requirements. She frequently opts for pet-friendly accommodations, even if they come at a premium. This trend is echoed by couples like Nikhil Bhushan and Lakshna Gulati, who find joy in raising their rescued pets, Mowgli and Marmalade, as they navigate parenthood without biological children.
Market Growth and Future Prospects
The pet care market in India is poised for substantial growth, with projections indicating it could double in value to exceed $7 billion by 2028. This optimism is supported by global trends, as the worldwide pet care sector is expected to surpass $500 billion by the end of the decade. Companies like Zigly are experiencing rapid growth, with monthly gross merchandise values reaching around 46 million rupees, and they anticipate further expansion. However, challenges remain. Economic disparities, wage stagnation, and a lack of pet-friendly public spaces can hinder the industry’s growth. Many cities still lack adequate facilities for pet owners, making travel and dining out with pets difficult. Despite these obstacles, pet owners like Bapna and Bhushan remain hopeful, noting the increasing availability of pet-friendly venues and events in urban areas.
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