'Pet parents, not owners': In premium households, demand for gourmet pet food and treats is on a rise
pet care industry is also riding on them to expand its market. The industry, current valued around Rs 5,000 crore is set to cross Rs 10,000 crore by 2028.
Nuclear families in India are already uping their monthly average expenditure to Rs 5,000 or more on pets, reported ToI. In Bengaluru, the average spend is estimated at Rs 3,000 per month, said Shashank Sinha, CEO at Drools Pet Food. “One key trend is the recognition of pets as companions who can help combat loneliness and anxiety. Smaller families and busy schedules create a desire for emotional support and loyalty that pets offer,” Sinha said to ToI.
India has over 31 million pet dogs and 2.44 million pet cats, the fifth highest pet population in the world, however the packaged food penetration is small catering to only 5% of the calorie intake of the pets, while it is as high as over 90% in Europe.
Pet parents, not owners:
The potential trend for the industry has emerged over the change in sentiment of the new generation when it comes to adopting pets. Gen Z and millennials are increasingly identifying themselves as pet ‘parents’ rather than pet ‘owners’ — a shift in mindset that’s propelling demand for not only better quality pet food and nutrition but a host of other pet products in categories like oral care, gourmet snacks and lifestyle.
“Pet adoption has been more prevalent among Gen Z and millennials. Their need for convenience, coupled with a willingness to spend on their pet children, has led to the emergence of a service ecosystem of pet grooming,
