Earlier this month, Godrej Consumer Products (GCP) said it will foray into the sector in FY26 with an investment of 500 crore over five years.
Currently valued at 5,000 crore, the market has the potential of a strong double-digit growth for the next few decades, the company said in an exchange filing, while announcing its move.
"To give a perspective, only 10 per cent of Indians own a pet, of which only 10 per cent feed packaged food and that too only 40 per cent of the time. Calorie conversion in India is only 4 per cent. China, which was remarkably similar to India 15 years ago, has 20 per cent pet ownership with a calorie conversion of 25 per cent. While the opportunity is clear, we believe that our right to win as a group is high," the filing stated.
This story is from the August 17, 2024 edition of Business Standard.
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This story is from the August 17, 2024 edition of Business Standard.
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