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In 2007, when Rana Atheya, now 34, decided to write a blog on keeping dogs, he never expected it to draw much attention. Amazed by the enthusiastic reception, he decided to foray into an online marketplace for pet products. That's how Dogspot.in became an e-commerce business in August 2011, retailing pet products and accessories.
The adoption of 600,000 pets every year in India has led over 900 SMEs across the country to focus on pet care, with innovative products catering for dogs, cats, fish and birds.
Nikki Kapoor is another pet-lover who foresaw the market potential and turned entrepreneur. 'Bark On Gourmet Doggie Barkery', located in Delhi, is a bakery for pets because Kapoor feels that every dog should have his day. She recently launched Navarasas Aromatherapy Essential Oils and Blends for pets, because owners wanted a natural product for their pets.
According to the London-based market intelligence firm Euromonitor International, the Indian pet care industry is growing at about 20 per cent a year, fuelled by a significant increase in spending by Indians on pets in the last three years.
Many SMEs are joining the bandwagon and the market is estimated at around Rs 1,800 crore. Some manufacture their own products, others import foreign products. The services segment has also seen a rise in the number of companies offering pet boarding, pet relocation and training. There is significant growth in pet shops, veterinary clinics and grooming parlours as well.
Atheya, the Gurgaon-based CEO and co-founder of Dogspot.in, told Business Standard, "In the last three years, the industry has grown rapidly, offering ample opportunities for SMEs. We started with around 400 products, offering them online. Today we are working with suppliers across India and offer over 4,000 products, ranging from foods and supplements to toys and grooming kits, with the intent of expanding the target market. Last year we witnessed a growth of 150 per cent and this year we expect to grow by 200 per cent."
Aseem Singla, owner of Chandigarh-based Ramal Medical, who deals in pet products and veterinary services, said that growth is not restricted to big cities, but tier-II cities such as Chandigarh have also witnessed it. "There is great demand for pet products from non-metros also. We are witnessing a growth of 20-25 per cent year-on-year and expect it to continue in coming years."
Rana said, "Currently, 70 per cent of the players are SMEs. They have responded well to emerging trends by offering innovative products like bakes, home-made foods and shampoos, in addition to accessories. Further, sensing burgeoning demand in the domestic market, many SMEs who were exporting pet care products are now concentrating on the domestic market. Other companies are also diversifying into pet care products and services."
