Make in India
Make in India
TAKING ' MAKE IN INDIA ' TO THE NEXT LEVEL
By Sandra Branger
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Creature Companion | Interzoo Special 2018
India’ s dynamic investment climate offers opportunities for growth in most, if not all, sectors. The Pet Industry alone is expected to earn estimated revenues of Rs 350 crore— pet food sales bringing in around Rs 250 crore, and grooming and healthcare, the remaining Rs 100 crore. Your Story quoting a recently published report by TechSci Research, India Pet Food Market Forecast & Opportunities 2019, states that the Indian pet food market is projected to surpass $ 270 million by 2019.
Another study by Euromonitor International, a London-based business intelligence company, states that the value of the Indian petcare market has more than doubled from Rs 538 crore in 2011, to Rs 1,394 crore. A strong growth( about 26 percent) was seen between 2014 and 2015, and this is expected to continue. Euromonitor International further adds that Indians spent Rs 19.8 billion on pet care last year— an advantageous aspect that Indian businessmen and entrepreneurs should acknowledge.
Until not so long ago, no one would have thought that the Indian pet-care market would become so huge. The main drivers of this sudden growth are rapid urbanization, increase in awareness about‘ humanizing’ pets, and pets becoming a style statement of pet owners.
Euromonitor International further adds that Indians spent Rs 19.8 billion on pet care last year
Of late, media’ s positive portrayal of pets has also helped change public perception in the mass. The love and concern for animals being accepted as pets by Indians have given this sector an opportunity to come into its own.
Having a pet or three is‘ stressbusting’ at its best. Experts say, pet owners tend to have lower blood pressure, heart rate and heart-disease risk than those who don’ t. It is suggested that these health benefits may come from the extra exercise, including playing and walking with the pet / s; the stress relief that comes from laughter and play; as well as from the unconditional love that most pets( such as dogs and horses) give. Scientists are now coming to believe that pet therapy can also help improve mental health, even for people with challenging disorders.
The market is open but some of us might