India Pet Care Market to See Strong Growth, Forecasts New Periodical by MarketMonitor Consultancy Available at MarketPublishers.com
27 Sep 2016 • by Natalie Aster
LONDON – In India, pets are often perceived as family members of a family and they are treated by food of a good quality and they are given good healthcare.
With the growing number of people living in cities, there has been a significant shift in the local consumers’ buying pattern related the pet care.
At present, India is in the top three of the world’s largest economies. This country’s GDP grows at the highest rate (over 7%) amongst major economies.
There has been a considerable increase in the personal disposable income over the last ten years in the country. Pet adoption has also increased considerably and ownership of cats, dogs and other pets has surged. The local pet care can boast high growth potential.
This marketplace grew at a CAGR of more than 26% over the period 2011-2015. It is expected to grow at a lower CAGR of around 17% over the period 2016-2021.
Dog food is the leading segment of the Indian market for pet care. It held the largest share of the marketplace in terms of value. The pet healthcare category occupies the second position, and pet dietary supplements and cat food hold the third position.
The competitive landscape is ruled by foreign brands like Royal Cannin and Mars International. These brands have a combined share of more than 50% of the marketplace in terms of value.
New periodical “India Pet Care Market Analysis by Type, Forecast and Opportunities, 2016-2021” worked out by MarketMonitor Consultancy offers an up-close look at trends and developments in the Indian pet care marketplace. A size of this market is estimated and performance of all segments of the marketplace is explored in it.
The periodical comprises a supply chain analysis and investigates dynamics of this space. It sheds light on export and import trends and discusses policy and regulatory landscape. The periodical focuses on top companies and discusses opportunities and prospects the marketplace has.
More new periodicals and reports by MarketMonitor Consultancy can be found at its page.