Sneha Biswas, the owner of Pawfect Bites, a small bakery in Kolkata catering exclusively to pets, identified a lucrative gap in the market – the unmet needs of devoted pet parents. Spending months perfecting recipes and understanding the industry, Biswas realised the growing demand for high-quality pet food in the city. This trend, however, isn’t confined to Kolkata; in fact, there is a nationwide surge in pet care awareness.
As investments surge and valuations soar—most notably, with Drools reaching a staggering $600 million—the Indian pet care landscape is poised for monumental growth. Projections indicate that the pet care industry in India is expected to grow at a remarkable 20 per cent CAGR over the next five years, potentially crossing $3 billion by 2025.
The Indian pet care market has become a hub for investments, with over $170 million flowing into the sector. Following Drools’ lead, HUFT secured $37 million, while Just Dogs raised $7 million, and Supertails closed a significant $15 million funding round. Notable venture capital firms like Anthill Ventures, Panthera Peak Ventures, Info Edge, and Point One Capital, along with angel investors including Kunal Shah, Varun Alagh, Farid Ahsan, and Ritesh Agarwal, have fuelled this rapid expansion.
Trends in Pet Care
Within India’s pet care industry, a profound shift is underway, driven by changing consumer mindsets and evolving pet parenting behaviours. Over the past decade, there has been a remarkable change in demographics and pet ownership patterns, particularly in urban areas. “More and more young parents are adopting pets in India, with over 80 per cent having children less than six years old,” says Satinderr Singh, General Manager of Royal Canin.
This story is from the April 06, 2024 edition of BW Businessworld.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the April 06, 2024 edition of BW Businessworld.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
'Committed to helping India achieve carbon neutrality'
R. Purushothaman on how Danfoss India, part of Danish MNC, is supporting the nation's carbon neutrality goals with innovative products
INTELLECTUAL DEPTH & ACTIONABLE INSIGHTS
Anil K. Khandelwal is a transformational leader, who invites readers to rethink leadership as a journey rather than a destination. In The Gym of Leadership, he emphasises that helmsmanship is not a badge of authority but a commitment to creating a positive impact, says Srinath Sridharan
AN INDUSTR BENCHMAR
The MacBook Pro M4 doesn't just set the bar for laptops-it becomes the bar. With unmatched performance, breath-taking design and incredible endurance, Apple's latest offering redefines what a laptop can achieve, says Sahil Mohan Gupta
The drip of good health
IV therapy seems to be a popular procedure with people in pursuit of good health and glowing skin. We spoke to medical experts about aspects to keep in mind before walking into a wellness centre to get that drip.
"MACARONS FOR THE MASSES"
CHANDNI NATH ISRANI, the driving force behind Ladurée's India expansion, redefines luxury in the F&B sector. With four flourishing Ladurée outlets established since 2021, Israni is making iconic French pastries and delicacies accessible to the Indian market. BW Businessworld sits down with the visionary entrepreneur to discuss her journey in building the luxury brand and her strategy for democratising gourmet experiences
NAVIGATING THE PATH TO PROFITABILITY: A STARTUP'S BALANCING ACT
WHEN EVALUATING startup profitability, it’s crucial to break it down into two main components: unit economics and fixed costs. Unit economics refers to the profitability of delivering each singular order, which involves analysing transaction margins against costs incurred, such as delivery and payment gateway fees. This assessment helps gauge whether a business model is sustainable at a micro level.
THE HOLY GRAIL OF PROFITABILITY
Profitability for startups is elusive, often overshadowed by growth and investor expectations. Achieving profitability requires a delicate balance between revenue generation and cost management, with factors like market dynamics and competition playing significant roles
"WE ARE FOCUSED ON BUILDING A RESILIENT AND SELF-SUSTAINING SEMICONDUCTOR ECOSYSTEM"
S.KRISHNAN, Secretary of the Ministry of Electronics and Information Technology, outlines India's ambitious plan to build a resilient and globally competitive semiconductor industry through the India Semiconductor Mission
Shaping the Future of Cyber Risk Management
With its mission to advance cyber risk quantification through the FAIR (Factor Analysis of Information Risk) model, the institute empowers businesses to align cybersecurity with broader objectives using structured, data-driven insights. Managing Director TODD TUCKER discusses how the institute’s methodologies and community-driven approach are reshaping industry standards worldwide, including growing interest in India and Asia Pacific
THE PILLAR OF A RESILIENT DIGITAL FUTURE
The rapid evolution of digital technologies has transformed the world, driving unprecedented connectivity and innovation. Yet, as the digital realm expands, so do vulnerabilities, with cyber threats emerging as critical challenges for businesses, governments and individuals
