Natural and Organic: The Next Paw-Something in Indian Pet Food Industry
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The pet care sector in India is one of the fastest growing industries, constituting a significant share in the global market. Pet food comprises around 70per cent share in the overall pet care industry in the country, and this segment is growing just as robustly. According to a report by leading market research and consultancy firm Mordor Intelligence, the Indian pet food market is projected to continue growing at a CAGR of 15.5per cent by 2023. India is known for being a very trend-driven, access and awareness based market in nature, and this reflects in a significant shift that has recently been witnessed in the pet food industry—the emergence of natural and organic pet food segment.
The shift towards natural and organic pet food has been a global phenomenon, with Technavio analysts estimating this segment to experience a CAGR of 9.1per cent till 2021. As more pet parents regard their pets as their own children and become better aware of their health and nutritional requirements, the natural and organic pet food segment is seeing a remarkable rise. Although in its nascent stages in the country, the natural and organic segment is paving its way to becoming the next big thing in the Indian pet food industry owing to the following three major factors:
Growing Concern for Pet’s Good Health and Well-Being
Traditionally, pet parents have fed their pets with either homemade meals or the canned foods available at retailers. With a growing concern for their pet’s health and well-being, pet parents have felt the need to include a diverse range of nutritious food as part of an adequate diet. Natural and organic pet foods have emerged as a respite in this scenario. A cursory look through the nutritional composition of processed and natural pet foods might make the two seem similar. But the former may comprise of fillers and additives such as animal byproducts, diseased tissues and gluten that may cause allergies and discomfort in the pets, even rendering them sick. Therefore, the emergence of natural and organic alternatives as a solution to pet parents’ concerns has led to this significant shift towards the segment.
E-commerce and Increased Awareness Due to Digital Penetration
E-commerce has been observed as one of the largest drivers of the Indian pet food industry. With an increased digital penetration, pet parents now have better access to not just vital information about their pet’s nutritional requirements but also a wide variety of alternatives available. Through digital media, pet parents do not just become more informed to make conscious choices but are also ensured transparency, which is very vital for an aware consumer. The internet, therefore, forms a fertile ground of opportunities for natural, organic and health-beneficial pet foods.
Affluence Among Middle Classes and Humanization of Pets
As an urban lifestyle pushes young working people to a state of constant hustle and isolation, adopting a pet has emerged as a respite. People in these urban settings now have extra money to spend, and they choose to pamper their furry children and cater to their health and well-being in the best possible way. This has led to a paradigm shift towards natural and organic pet food, as pet parents have begun thinking along the lines of “What’s good for me is also good for my pet”.With this global trend of pet anthropomorphism gaining traction in the country, supplemented by urbanization and a rise in disposable income, the natural and organic pet food segment is witnessing robust growth.
The magnitude of growth of the natural and organic pet food industry has been so prevalent in the country that even the government has taken measures to tap into the segment better. The sea of opportunities in this emerging segment has resulted in many entrepreneurial ventures, and this development is being appreciated both by the industry experts as well as pet parents. Pet parents now have a diverse range of natural and organic pet foods to make a conscious choice from in order to ensure the good health and well-being of their pets. As more pet parents opt for a quality lifestyle over a chemically-driven one for their furry children, the natural and organic segment is projected to keep growing exponentially, thereby becoming the next big thing in the Indian pet food industry.