LONDON, Jan. 5, 2016 /PRNewswire/ -- India is a rapidly growing and important market for pet food. The trend driven, access and awareness based nature of the nation make it an alluring target to capital rich multinationals, the recent interest in FDI's is a crucial aid to this process. In 2014 the market was valued at around $198.6 million dollars and is expected to grow at a CAGR of 13.9% to grow into a $434.3 million market by 2020. Pet Food Market Trends 2015-2020
The concept of owing pets and taking care of them is a very urban phenomenon in India. The growth of the market therefore is largely dependent on the pace of urbanization; the infrastructure changes of the past two decades signal a very positive and rapid movement here. The initial impasse of the Indian consumer over spending on pets is slowly giving way to the feeling of pet humanization and sensitization, trends well demonstrated by the rapid rise in adoption rates. The other major driver for the industry is the delayed parenthood witnessed in most urban and newly married couples, the owing of a pet often acts as an emotional stimulant in these cases. The hectic and tiresome lifestyles developed due to the rapid modernization has made most urban dwellers time- handicapped, leading to an increased preference for commercial packaged pet foods. The convenience offered by these products can well transcend beyond the urban setting if leveraged properly thereby underlining the market potential of the nation.
The market is segmented based on the product type, animal type, pricing and sales channels. In line with most nations the dog and cat foods occupy the most prominent position, with an estimated rise in the fish and other exotic animal populations. Due to certain social and cultural constrictions dog populations vastly outnumber that of cats in India. As a direct consequence of these stats the wet and dry segments occupy the leading position, with visibly growing numbers form organics. The nation is characterized with a monetarily strong middle class, making the economic pricing segment an important revenue generator. Super markets are the leading outlets for pet food but the trend is expected to shift to specialist stores in the future.
Mars had the pioneer advantage and consequentially dominates the market with 70% market share. This is followed by brands such as PetSetGo, Drools, Bharat International Pet Foods, Agro Food Industries Pvt. Ltd, Gitwako Farms (I) Pvt. Ltd., and IB Group.
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Market Definition for the specified topic along with identification of key drivers and restraints for the market.
Market analysis for the India Pet Food Market, with region specific assessments and competition analysis on a global and regional scale.
Identification of factors instrumental in changing the market scenarios, rising prospective opportunities and identification of key companies, which can influence the market on a global and regional scale.
Extensively researched competitive landscape section with profiles of major companies along with their share of markets.
Identification and analysis of the Macro and Micro factors that affect the India Pet Food Market on both global and regional scale.
A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information.
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