Affinity Petcare to invest 20% revenues on marketing
healthcare company Affinity Petcare will invest 20% of its revenues from India on marketing and promotions, where it is aiming to become a top three player in the clinical nutrition space, Jordi Garriga, international business director, Affinity Petcare, said.
Affinity Petcare has entered the India market in partnership with pet foods and products maker Scientific Remedies. The company has first launched Affinity Advance, the flagship brand of Affinity Petcare in India, a market that is forecasted to touch $1,932.6 million by 2030.
Garriga said the company is forecasting to become a top three player in clinical nutrition over the next 8 to 10 years.
Affinity Petcare, a family owned business, will have an India portfolio for premium therapeutic, wellness and speciality nutrition products for pets, the company said.
These will be retailed in vet clinics, pharmacies and vet partnered pet shops.
Rakesh Mohan, executive director, Scientific Remedies, said Affinity Petcare is the world’s sixth largest pet food brand, and pointed to the existing potential to tap the India market. “The majority of pets in Indian households consume home food.
But as disposable incomes grow, adoption to specialised pet foods and pet care is bound to increase,” Mohan said.
The company said it is aiming for 20 per cent market share within pet foods by 2033.
“The long term potential of this category is significant. The main task is to educate consumers and make the switch to specialised pet care,” Garriga said.
A Decipher Market Research Agency report forecasted India’s pet care industry to be growing at a compound growth rate of 16.5 per cent.
