The Hindu Business Line : Pet care booming

The pet industry is purring with delight! With foreign manufacturers and exporters training their sights on the market, especially the canine segment, the industry is set to witness intense competition in the coming years.

Enthusiasts have also set up an Indian Pet Association to bring animal lovers under one umbrella.

“Indians are opening their doors to pets like never before. The humanisation of pets will sharply benefit industries such as grooming, insurance, and even pet restaurants,” industry watchers said.

According to Euromonitor, the domestic pet product market will grow at an annual rate of 10-15 per cent between 2007 and 2010.

Pet ownership also is on upswing with as many as four million dogs being raised in six cities. There is also a steady rise in the ownership of cats, birds, fish, reptiles and rodents.

“The revenue earning potential of India’s growing pet industry is pegged at Rs 350 crore a year. Of this, Rs 150 crore is attributed to the medical, grooming and immunisation segments. The market for pet healthcare in India has increased significantly between 2001 and 2008, at an average annual rate of 9.3 per cent,” said Raghav Modi, CEO, Petsetgo, a division of Avanti Overseas.

Petsetgo is the country’s first branded pet care and accessories company. “Our parent company has been exporting products for pets since over a decade. However, we are mulling to enter retail segment so as to cater to the consumer’s needs,” he said.

The company said it has tied up with various international brands in the pet-care segment.

“Brands such as Karlie from Germany, Nova Foods and Camon from Italy, Rogz from South Africa, and Forcans from South Korea are all available under our banner for consumers in India,” he added.

According to Binoy Sahee, Director, IIPTF, which organised a pet fair in India earlier this year, “the focus of the pet market has shifted to Asia in recent years. India is predicted to supply the world with the bulk of pet-related products in the coming years. The fair was developed with the idea of establishing a network of pet enthusiasts.”

Interestingly, Bajaj Allianz General Insurance offers policies for dogs ranging between Rs 2,000 and Rs 200,000. The policy covers death resulting from illness to accident.

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Pet care booming

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