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EVOLVING OPPORTUNITIES AND TRENDS IN THE PET INDUSTRY -AN

ANALYTICAL STUDY ON PET PRODUCTS AND SERVICES

Article · August 2019

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JASC: Journal of Applied Science and Computations ISSN NO: 1076-5131

EVOLVING OPPORTUNITIES AND TRENDS IN THE PET

INDUSTRY – AN ANALYTICAL STUDY ON PET PRODUCTS
AND SERVICES
*R.Judith Priya, **Dr. M. Nandhini

*Mrs. R. Judith Priya, Ph.D(Part Time) Research Scholar, Sri Ramakrishna College of Arts and
Science, Nava India, Coimbatore – 641006.

**Dr. M. Nandhini, Associate Professor, Department of B.Com.BPS, Sri Ramakrishna College

of Arts and Science, Nava India, Coimbatore – 641006

E-Mail-id: [email protected], 81900 79990

______________________________________________________________________________

Abstract:
Indian people are increasingly attached to their pets with animals such as dogs, cats and birds
often regarded as part of the family. People became more aware of the hardships some animals
suffer, motivating many animal lovers to adopt stray cats or dogs as pets in India. The concept of
owing pets and taking care of them is a very urban phenomenon in India. The growth of the
market therefore is largely dependent on the pace of urbanization; the infrastructure changes of
the past two decades signal a very positive and rapid movement here. The Indian consumers idea
on spending money on buying pets, pets products and pets services is slowly giving way to the
feeling of pet humanization and sensitization, trends well demonstrated by the rapid rise in
adoption rates of pets. Many economic experts believe that the pet industry is one of the most
stable industries around the world. Some pet-related products and various supplies, do not fare
quite as well, but overall, the industry tends to hold up. This is thought to be partly because
people see their animals as an extension of their families. There exist vast opportunities for sale
of Pets, Pet Products and Services Industry to boost up in India in rear future. This study
reveals the Evolving opportunities and trends in the Pet Products and Services Industry in
Coimbatore District.

Keywords:
Pet Industry, Pet Products and Services Industry.

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1. INTRODUCTION

Indian people are increasingly attached to their pets with animals such as dogs, cats and
birds often regarded as part of the family. People became more aware of the hardships some
animals suffer, motivating many animal lovers to adopt stray cats or dogs as pets in India. The
concept of owing pets and taking care of them is a very urban phenomenon in India. The growth
of the market therefore is largely dependent on the pace of urbanization; the infrastructure
changes of the past two decades signal a very positive and rapid movement here. The initial
impasse of the Indian consumer over spending on pets is slowly giving way to the feeling of pet
humanization and sensitization, trends well demonstrated by the rapid rise in adoption rates.

Pets play an important role in the lives of many people throughout the world, and there is
a growing body of research indicating a positive relationship between pet ownership and human
health[1]. Many economic experts believe that the pet industry is one of the most stable
industries around. Studies have shown that even during times of economic trouble, people still
tend to consider their pets to be a high priority, and they still often spend significant money on
their animals. Some pet-related products, such as various supplies, do not fare quite as well, but
overall, the industry tends to hold up. This gains more importance that people see their animals
as an extension of their families.

The Indian pet industry has come a long way in terms of market value and customer
service during the past decade. Once a motley crew of shopkeepers selling shampoos and
biscuits, the pet market has now evolved into more than 800 million dollors industry. It
comprises of large multinationals, as well as domestic players. Industry veterans believe this is
just the beginning, and that the spurt in pet adoptions and growing interest in pets, especially
dogs, means the progress witnessed till now, is only the tip of an unexploited iceberg.

Continuing its growth trend, the Indian pet industry is expected to continue to register
strong double digit retail value growth.

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2. OBJECTIVES OF THE STUDY

The study is designed with the following objectives:

1) To study the various opportunities evolved in the pet industry.

2) To comprehend the utilization of various factors behind pet Industry.

3. SIGNIFICANCE OF THE STUDY

Pets are part of our everyday lives and part of our families. They provide us with companionship and
also with emotional support to reduce our stress levels, sense of loneliness and help us to increase our
social activities positive emotional development. In return, as responsible pet owners we need to ensure
that our animals are kept healthy, fit, get nutritious food, love and affection and proper housing and care.
There exists an enormous growth in the pet industry in recent years. The current study reveals evolving
opportunities and trends in the pet industry
4. SCOPE OF THE STUDY
Indian people are increasingly attached to their pets with animals such as dogs, cats and birds
often regarded as part of the family. People became more aware of the hardships some animals
suffer, motivating many animal lovers to adopt stray cats or dogs as pets in India. The market is
segmented based on the product type, animal type, pricing and sales channels. In line with most
nations the dog and cat foods occupy the most prominent position, with an estimated rise in the
fish and other exotic animal populations. The study may benefit marketers, businesses,
government and academicians. This study may be able to inform marketers to understand the
various opportunities evolve in the pet industry and pet care services. For scholars and academic
researchers, the current study forms a basis upon which future research on pet industry may be
established. The findings may be resourceful in providing viable information to academicians,
researchers and consumers on various concepts related to pet products and services industry.
5. METHODOLOGY OF STUDY
The research made use of primary data, which was collected using structured questionnaire.
The sample size for the study consists of 100 respondents. The questionnaire was prepared in
such a way so as to gather data from the respondents, which will be helpful in attaining the
objectives of the study. The collected data was carefully scrutinized, tabulated and analyzed
using simple statistical techniques like percentages.
6. LIMITATIONS OF THE STUDY

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The main limitation of the study was time constraint.

1) The sample size is limited to 100 respondents and hence the result of the study cannot be
taken as universal.
2) Findings of the survey are based on the assumption that the respondents have given
correct information.
3) The study was conducted only in Coimbatore city and therefore, several potential
samples outside the city were neglected.

7. STATISTICAL TOOLS & TECHNIQUES

PERCENTAGE ANALYSIS
Ratio is very often expressed as percentages ratio established the relationships between two
variables. In the calculation of percentages also one figure is taken as base and is divided by
another number and multiplied by hundred.
LIKERT’S SCALING TECHNIQUE
A Likert Scale is a type of rating scale used to measure attitudes or opinions. With this scale,
respondents are asked to rate items on a level of agreement. A 5 points Likert’s Scaling
technique is used for this study. Points were given as below
Strongly Agree : 5 points
Agree : 4 points
Neutral : 3 points
Disagree : 2 points
Strongly Disagree : 1 point

8. Overview of Pet Industry

The term "pet industry" would include all the collected businesses around the world that make
money by providing things for people’s pets. This could potentially include everything from pet
healthcare to food and supplies. It is considered a fairly large industry and, overall, experts
believe that people see it as an essential need, which may help the industry weather economic
difficulties more easily than other areas of the economy.

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The benefits to individuals of human-animal interactions (HAI) to health have been widely
explored. Findings have revealed a number of therapeutic, physiological, psychological and
psychosocial benefits to pet owners [2] including decreased blood pressure [3,4], reduced risk of
heart attacks [5], improved survival rates [3,6 ,7], increased physical activity [8]

One of the primary aspects of the pet industry is pet-oriented healthcare. This has several
different facets, including veterinary services, research, and medications for pet illnesses. There
are also many preventative products on the market designed to keep pets from developing
problems along with herbal remedies and other health supplies.

Another key part of the pet industry is related to food. All pets generally need to be fed, and each
type of pet may have very different food requirements. Products in the pet food industry are
often targeted at specific animals, or even different products for animals at different points in
their lives. For example, there is dog food that is primarily for elderly dogs, and dog food made
for puppies. There are also foods made entirely of natural products with no additives for owners
who worry more about their pet’s nutrition.

Pet supplies are another major part of the pet industry, and this could include products with many
different potential uses, some of which are essential, while others may be viewed as luxuries. For
example, there are products like cages and aquariums that are essential for keeping certain types
of pets, and there are products like dog beds that may not be essential, but are still generally very
popular. A huge variety of pet products is already on the market and people invent new products
constantly, sometimes providing people with pet-related items they never knew they would
enjoy.

Various views about Pet Industry in India

Previous to 2000 Since 2000

 Animals are viewed less like pets  Pets are Companions, best friends and
Babies
 Very little focus on pet pampering  Focus shift towards total lifetime care
 Less focus on pet food and of pets
vaccinations  More focus as customers demand
more human-like treatment for pets
 Maximum pet owners especially dog  Pets are treated as one of the person in
owners prefer to have dogs at their a family and bred up with lots of

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house and farms to protect from emotional care.

invaders.

However, India is expected to be the fastest growing country with growth rate of 12.2% over the forecast
period due to rising disposable income. The India International Pet Fair estimates that the pet population
has grown from 7 million in 2006 to 10 million in 2014 and 6,00,000 pets are adopted every year. India is
projected to have the fastest growing pet market due to rising adoption rates of pets. This in turn drives
the demand for food, accessories and health[9].

The growth in the consumption of pet products is based on several parameters: more pet
adoptions (600,000 pets are adopted on a yearly basis in recent times in India), an increase in the
disposable income, greater know how in the nutritional requirements and advantages of pet food
and the head count of the Indian middle class increasing[10].

Indian people are increasingly attached to their pets with animals such as dogs, cats and birds
often regarded as part of the family. People became more aware of the hardships some animals
suffer, motivating many animal lovers to adopt stray cats or dogs as pets in India. The number of
pet shops increased across India, supported by increasing pet ownership. Pet shops not only offer
food products, but salon services for dogs and cats. Despite the reduction in sales of pet care
products with the onset of Goods and Services Tax (GST) and decline in sales of premium pet
food in India during 2017, pet care is expected to bounce back during the forecast period.
Demand for pet care products will continue to grow overcoming minor setbacks due to rising pet
adoption, attachment towards pets, humanisation, health and wellbeing trends and pets as a status
symbol[11].

Indian pet care market is expected to grow with a CAGR of more than 20% in the forecasted
period of FY 2017-18 to FY 2021-22. The market is categorised into four segments i.e. pet food,
pet accessories, pet grooming and pet healthcare[12].

9. Analysis and Interpretation:

I. Area of residence:
The following table shows the details of the area of residence of the respondents who own pets.
Table 1.1: Area of residence

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Category No of respondents Percentages

Urban 56 56%
Rural 44 44%
Total 100 100%
Source: Primary data.
The above table represents the distribution of respondents who own pets based on their area of
residence. The data were collected from 100 respondents among the 100 respondents majority
56% were residing in rural areas and remaining 44% are residing in urban areas.
II. Age of the respondents
Table 1.2: Age of the respondents
Age(in
years) No of respondents Percentages
Less than 25 5 5%
25-34 17 17%
35-44 18 18%
45-54 26 26%
55-64 21 21%
65-74 9 9%
More than 75 4 4%
Total 100 100%
Source: Primary data.
The above table represents the distribution of respondents who own pets by their age. The data
were collected from 100 respondents among them major 26% were aged from 45-54 years and
the least 4% are aged more than 75 years.
III. Marital Status:
This table shows the marital status of the respondents.
Table 1.3: Marital Status
Marital Status No of respondents Percentages
Married 78 78%
Unmarried 22 22%
Total 100 100%
Source: Primary data
Table 1.3 shows that 78% of the respondents are married and the remaining 22% are unmarried
IV. Education level of the respondents:
This table shows the education level of the respondents who own pets.
Table 1.4: Education level of the respondents
Level of Education No of respondents Percentages

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School Level 26 26%

Graduate 36 36%
Post Graduate 20 20%
Others 18 18%
Total 100 100%
Source: Primary data

From the above table, it is clear that major 36% of the respondents were graduates and the least
18% of the respondents were others.

V. Monthly Income of the respondents:

This table shows the monthly income of the respondents who own pets.
Table 1.5: Monthly income of the respondents
Monthly Income No of respondents Percentages
Less than Rs.10,000 11 11%
Rs.10,000-Rs.15000 20 20%
Rs.15,000-Rs.25000 25 25%
Rs.25,000-Rs.35,000 32 32%
Rs.35,000 and above 12 12%
Total 100 100%
Source: Primary data

From the above table, it is clear that major 32% of the respondents were earning a monthly
income from Rs.25,000 to 35,000 and the least 11% of the respondents were earning less than
Rs.10,000.

VI. Amount spent on pet products and services(Monthly).

This table shows amount spent by respondents on pet product and services in a month

Table 1.6: Amount spent on pet products and services(Monthly).

Amount Spent on
Pet Products and
Services No of respondents Percentages
Less than Rs.200 9 9%
Rs.200 - Rs.500 15 15%
Rs.500-Rs.1000 27 27%
Rs.1,000-Rs.3,000 32 32%

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Rs.3,000 – Rs.5000 12 12%

Rs. 5,000 and above 5 5%
Total 100 100%
Source: Primary data

From the above table, it is clear that major 32% of the respondents spend monthly Rs.1,000 to
Rs.3,000 on Pet Products and Services and the least 5% of the respondents spend monthly
Rs.5,000 and above on Pet Products and Services.

VII. Most commonly owned pets

This table shows the pet which is most commonly owned by respondents

Table 1.7: Most Commonly owned pets

Pets No of respondents Percentages

Fish 19 19%
Cats 26 26%
Dogs 35 35%
Birds 10 10%
Rabbits/Guinea Pigs 4 4%
Others 6 6%
Total 100 100%
Source: Primary data

From the above table, it is clear that major 35% of the respondents’ commonly owned pets are
dogs and the least 4% of the respondents’ owned rabbits/guinea pigs as their pets.

VIII. Major expenses spent on various segments of Pet Industry

This table shows the major expenses spent by the respondents who own pets on various segments
of Pet Industry.

Table 1.8: Major expenses spent on various segments of Pet Industry

Segments No of respondents Percentages

Pet Healthcare 16 16%
Pet Food 22 22%

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Pet Accessories 12 12%

Pet Grooming 10 10%
Pet Training 6 6%
Pet Boarding 4 4%
Pet Purchase 29 29%
Pet Sitting 1 1%
Total 100 100%
Source: Primary data

From the above table, it is clear that major 29% of the respondents who own pets spend their
major expenses on pet purchase and the least 1% of the respondents spent their expenses on pet
sitting.

IX. Major utilization of various segments of Pet Industry

Table 1.9: Major utilization of various segments of Pet Industry

Segments Always Often Sometimes Seldom Never Total Total Rank

Score
Pet Healthcare 35(175) 28(112) 18(54) 15(30) 4(4) 100 375 2
Pet Food 48(240) 32(128) 22(66) 8(16) - 100 450 1
Pet Training 12(60) 11(44) 35(105) 24(48) 18(18) 100 275 6
Pet Grooming 15(75) 22(88) 32(96) 13(26) 18(18) 100 303 5
Pet Purchase 30(150) 28(112) 17(51) 13(26) 12(12) 100 351 3
Pet Boarding 2(10) 10(40) 28(84) 27(54) 33(33) 100 221 7
Pet Accessories 28(140) 23(92) 21(63) 16(32) 12(12) 100 339 4
Pet Sitting 0(0) 2(8) 15(45) 22(44) 61(61) 100 158 8
Source: Primary Data
10. FINDINGS
The findings based on the primary data collected are collectively given here. The study
established the evolving opportunities and trends in the pet industry. Most of the respondents
are from urban areas and are aged between 30 to 45 years. Most of the respondents are married
and majority of the respondents were graduates. Majority of the respondents chose dog as their

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own pet. Majority of the respondents spent maximum percentage of their expenses on purchase
of pets.

Conclusion:
India has experienced double digit growth in its pet industry in last few years. Increasing
awareness about pets and branded pet care products via internet is the major force behind this
growth. According to Euromonitor International, a global firm with specialization in market
research, the domestic product market of pets in India is expected to grow at a rate of 10-15 % in
coming few years. The pet grooming market is expanding at a firm pace owing to the
accessibility of frequent moveable pet groomers who deliver pet grooming activities as per the
convenience of pet owners. The pet grooming market is expanding rapidly owing to the cost and
convenience of the mobile groomer facilities. A recent market research focusing on the leading
trends in pet products, has indicated that the worldwide pet products industry is highly
influenced by a rising trend to treat pets as beloved family members. Expenditure on various
spheres of pet lifestyle like grooming, health and indulgence are increasing. With increasing
awareness about the good health and well-being of pet, pet healthcare industry is also expanding.
Pet owners are not ready to compromise with the good health of their pets and routine vet visits
are in trend. A rise in pet salon culture is employing professional groomers, and providing nail
trimming, ear cleaning, tick and flea treatments, and other fancy services to your pet’s new breed
of Indian entrepreneurs have emerged on the startup scene, striving to solve problems for
what they are deeply passionate about – pets. The growth of the online pet care retail market has
gone hand-in hand with India’s epoch breaking e-commerce boon in recent times.

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