India's Pet Care Industry Surges as Affluent Families Embrace 'Fur Babies'

With pet ownership skyrocketing in India, the pet care industry has experienced exponential growth, driven by changing social norms and the COVID-19 pandemic. Affluent and middle-class families are now spending significantly on their pets, nurturing them like children and fueling a booming market projected to reach $7 billion by 2028.

In recent years, the trend of pet ownership in India has taken on new dimensions, with families dedicating increasing resources to their beloved 'fur babies'. Neha Bapna, a 43-year-old entrepreneur from Mumbai, epitomizes this shift. For her, her Shih Tzu, Muffin, is more than a pet; he's a cherished member of the family. She travels with Muffin in first class, buys him hypoallergenic food at premium prices, and invests significant time and money into his care.

This trend is not unique to Ms. Bapna. The pet care industry in India has nearly doubled in value as affluent and middle-class families increasingly indulge their pets. The COVID-19 pandemic sparked a surge in pet adoption as people sought companionship while confined to their homes. According to Ankur Bisen, a senior partner at Technopak, young singles and couples are opting to adopt pets instead of starting families, reshaping traditional notions of parenthood.

Data from Redseer consulting indicates the number of pets in households has ballooned from 26 million in 2019 to an estimated 32 million by 2024. Couples like Nikhil Bhushan and Lakshna Gulati, who own a dog and a cat, convey the joy pets bring to their lives, filling a gap where children might otherwise be. They report extensive spending on their pets, echoing a broader trend in which urban Indians are prioritizing high-quality care for their animals.

By 2024, Indians are expected to spend approximately $3.6 billion on pet products and services, a significant increase from $1.6 billion in 2019. This growth has spurred an array of new services, from pet boarding and insurance to specialized veterinary care. Pankaj Poddar, CEO of pet care company Zigly, highlights the dramatic shift from basic care services toward a premium lifestyle for pets, with owners willing to allocate as much as 10% of their income on elaborate pet care.

However, while the market thrives, hurdles remain. Economic disparities and a lack of pet-friendly public spaces challenge the expansion of the pet care sector. For example, Bhushan and Gulati always prepare for travel by packing portable accommodation essentials. They, like many pet owners, face limitations at restaurants and public venues, where pets are often unwelcome.

Despite these challenges, both Ms. Bapna and Mr. Bhushan share a hopeful outlook for the future. As pet-friendly establishments and events gain popularity, the lifestyle of urban pet parents is expected to improve further. The growing adoption of pets post-pandemic underscores a cultural shift, with a Redseer report predicting India's pet care market could surpass $7 billion by 2028. This trend reflects broader global patterns, suggesting that pet care, long seen as niche, is becoming an integral part of urban life in India.