Creature Companion - Interzoo Special Interzoo Special 2018 | Page 18

Pet Food Market With the increasing availability of pet food products at competitive prices, the middle-income group is now looking to buy various brands of packaged pet food products for their pets. In addition to this, growth in dual-income households coupled with a growing middle-class population in the country is further pushing pet owners to buy pet food products from retail stores instead of feeding home cooked meals to their pets. population bracket. Th ese superstores display all brands of pet food, treats, accessories, etc., providing pet owners with a variety of product options to choose from. With rising competition, a large number of manufacturers are focusing on aggressive marketing and promotional strategies to survive in the Indian pet food market. Infl uence from the West Rising Demand for Organic Pet Food Indian consumers are also increasingly adopting trends and habits As people are increasingly purchasing of western cultures, which is evident in the rapidly changing expensive breeds of pets, the demand for lifestyles of individuals, especially those living in metro cities. Th e premium pet food products is also witnessing trend of adopting pets is also a manifestation of the same, which an associated increase that is likely to continue is consequently acting as the key driver for the growth of the pet over the forecast period. People are also food market in the country. However, apart from dogs, cats are concerned about the nutritional content of increasingly being adopted as pets despite the many superstitions pet food, and urban high-income consumers associated with encountering/interacting with cats. Th is further lends and passionate pet lovers are ready credibility to the argument that the infl uence of western to spend extra on specialized culture is driving Indians to adopt pets. Furthermore, diets that provide the Indian consumers are gradually becoming inclined Many companies optimum nutrition to towards purchasing premium pet food and are also focusing their pets. Th is is also specialty products, such as breed and age on creating an creating a demand for specifi c products. In addition to this, they have effective product super premium foods, also gained a better understanding of their pets’ supply chain, and leading to the enhanced nutritional needs with a growing number of pet are engaging brand visibility of super owners having realized the fact that pets need with online retail premium dog foods such more proteins and vitamins than human beings. platforms as Arden Grande, N&D Th us, demand for pet food is anticipated to rise and Hill’s Science Diet among during the forecast period. consumers. Organic/natural pet food is considered to be a super premium Aggressive Marketing & Promotional Strategies product, part of a niche segment within the Better internet connectivity, new business models and rising number pet food market. With increasing awareness of digital media platforms have provided companies enhanced about ideal pet diets, demand for such opportunities to promote their brands. Many companies are also products is likely to increase over the forecast focusing on creating an eff ective product supply chain, and are period. Pets are adored in their families and engaging with online retail platforms and institutions for the treated like humans; pet lovers are, thus, not same. Increasing consumer awareness and growing sophistication ready to compromise on the health of their in consumer preferences with regard to pet food are indicators pets. As a result, those who are ready to spend that the demand for commercial pet food in India is likely to rise more on their pets are likely to opt for super in the coming years. One of the ways to create brand awareness is premium specialized organic products to through innovative advertising. Pet food companies are entering into ensure that their pets achieve optimal health. market tie-ups with veterinary clinics to ensure that their brands are recommended to visiting pet owners. Veterinary doctors are, thus, playing a signifi cant role in infl uencing pet owners’ decisions Author: regarding which pet food brand to patronise. In addition to this, Mr. Mahesh Bendre exclusive retail pet stores are expanding in the Indian market. Such Vice President TechSci Research stores are increasingly becoming popular among pet owners due to Tel: [phone] the one-stop solution they off er for all pet requirements, including Email: [email protected] food, accessories, services, etc. Some of these pet superstores also off er high-end pet products for consumers belonging to the high-income 18 Creature Companion | Interzoo Special 2018