Indian Pet Care Market Sees Surge in Premium Products, Services
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Indian Pet Care Market Sees Surge in Premium Products, Services
- The Indian pet care market is projected to reach $25 billion (INR 2.1 trillion) by 2032, driven by a compound annual growth rate (CAGR) of 20%.
- This growth is largely attributed to the increasing "humanization" of pets, with owners like Pratapsinh Gaekwad of Crown Veterinary Services seeking higher quality care for their animal companions.
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India’s pet care market is experiencing a significant boom, with owners increasingly investing in premium products and services for their beloved animals. The market, valued at approximately USD 3.6 billion in 2024, is expected to grow substantially, with some projections indicating it could reach USD 25 billion by 2032. This growth reflects a global trend where pets are increasingly seen as integral family members, leading to a greater willingness among owners to spend on their well-being.
The demand extends beyond basic necessities to specialized offerings, including high-quality pet food, professional grooming, and advanced veterinary services. For instance, the pet healthcare segment alone was valued at over Rs. 700 crore (USD 82.8 million) in 2024 and is among the fastest-growing sub-segments. This includes a rising interest in pet insurance, which, while once an unfamiliar concept, is gaining traction as owners seek to manage the costs of veterinary care. The Indian pet insurance market was valued at USD 492.5 million in 2025 and is projected to reach USD 1,149.6 million by 2030, growing at a CAGR of 18.5%.
The surge in pet ownership, particularly in urban areas, and an increase in disposable incomes are key factors fueling this trend. The pet dog population in India, for example, grew from 12.6 million in 2014 to 33.6 million in 2023, and is projected to reach 51.5 million by 2028. This expanding pet population, coupled with a desire for better care, is also attracting international investment. Mars Inc., a major global player in pet care, made its initial investment in India by acquiring a minority stake in Crown Veterinary Services in December 2024, a Mumbai-based group of eight practices. This highlights the growing recognition of India as a significant market within the global pet industry.