Despite a slowing economy in India, the business of pet care, packaged food and grooming is growing at a healthy rate. The growth is noticed at a time when most of the other industries are facing challenges of a slowing economy.
The consumers might be cutting back on the discretionary spends for themselves, but they are not giving up on the style of their cannies and felines. The popularity of the pets spas, luxury pet accessories and hotels are in expansion mode and the accessories like the diamond and the Swarovski studded dog collars which cost more than Rs. 10,000 plus and Rs. 8000 pet leashes are in growing demand.
The pet food companies and the retailers say that the international brands like Mar’s Pedigree and Whiskas, Nutri Vet and Viobin and many more such companies are scoring well in terms of sales in the country. Bharat Pittie the MD at Bharat International Pet Foods said, “A significant change in the Indian pet care industry is that it is becoming a lot organised and with the entry of global brands, consumers are increasing their spending to give their pets a good lifestyle”.
Market researchers have predicted that the Indian pet care market will more than double to Rs. 800 crore by the year 2015 from Rs. 368 crores in the year 2011.