India's pet care market is poised for explosive growth, with 2026 shaping up to be a pivotal year as Fast-Moving Consumer Goods (FMCG) giants enter the arena, intensifying competition and transforming the landscape. The market, once dominated by specialized players like Mars Petcare and Himalaya Wellness, is now attracting significant investment from major corporations seeking to capitalize on the increasing "humanization" of pets and the willingness of owners to spend more on their furry companions.
Market Size and Growth Drivers
The Indian pet care industry is experiencing rapid growth, with projections estimating a market value of $3.6 billion (€3.43B) in 2024, expected to reach $7 billion (€6.68B) by 2028. Some experts predict the market will reach INR 2.1 trillion (US$25.03 billion) by 2032, exhibiting a compound annual growth rate (CAGR) of 20 percent. This surge is fueled by several factors:
- Rising Pet Ownership: India's pet population has grown significantly, with an estimated 42 million pets in 2024, up from 26 million in 2019. Urban households, in particular, are increasingly adopting pets.
- Pet Humanization: Pets are increasingly viewed as family members, leading to greater spending on premium diets, grooming, healthcare, and lifestyle products.
- Increasing Disposable Income: Rising disposable incomes and changing lifestyles are enabling pet owners to spend more on pet care. India's disposable personal income rose from ₹273,365 billion in 2022 to ₹296,383 billion in 2023.
- E-commerce Growth: The expansion of online pet care platforms and quick commerce options is revolutionizing the sector, with subscription services and telemedicine gaining traction. The India e-commerce market size reached USD 107.7 Billion in 2024.
FMCG Giants Enter the Fray
Several FMCG companies are making significant investments in the pet care market:
- Reliance Consumer Products Limited (RCPL): RCPL launched "Waggies," a pet food brand offering high-quality, science-backed nutrition at affordable prices.
- Godrej Consumer Products Limited (GCPL): GCPL has invested ₹5 billion ($60M/€55M) in its pet care brand, "Godrej Ninja," focusing on scientifically formulated dog food.
- Nestlé India: Nestlé acquired Purina Petcare India, providing direct access to the rapidly expanding pet food market.
- Emami: Emami invested in Cannis Lupus Services India, a pet care startup offering Ayurvedic remedies for pets.
These companies are leveraging their established distribution networks, brand recognition, and manufacturing expertise to gain a foothold in the pet care market.
Challenges and Opportunities
Despite the optimistic outlook, the Indian pet care market faces certain challenges:
- Fragmented Regulations: The lack of stringent regulatory standards for pet food and products poses a challenge.
- Supply Chain Issues: An unstructured supply chain for non-food segments and a reliance on imported premium products can inflate costs and disrupt supply chains.
- Limited Awareness: There's limited awareness of pet health and insurance, particularly in semi-urban and rural areas.
However, these challenges also present opportunities:
- Pet Tech Startups: The emergence of pet tech startups and increasing vet-tech adoption offer innovative solutions.
- Plant-Based Diets: Growing interest in plant-based pet diets provides opportunities for new product development.
- Domestic Innovation: The need for affordable, quality services and products, especially in Tier 2 and 3 cities, encourages domestic innovation.
The Road Ahead
The Indian pet care market is undergoing a significant transformation, driven by evolving consumer behavior, increasing investment, and technological advancements. As pets become increasingly integrated into Indian families, the demand for high-quality products and services will continue to rise. With FMCG giants entering the market, 2026 promises to be a year of intense competition and innovation, ultimately benefiting pet owners and their beloved companions.
