Trends in the Pet Care Industry for 2020
Do you own a pet? What is the significance of the animal in your lives? The history between man and pets is fascinating and it stands as a testimony of the evolution of our species. Humans have domesticated animals ever since the Stone Age. The animals were initially considered as hunting partners and guardians against the visible and invisible forces. The scenario has changed drastically over the ages. Some people treated animals as compassions, and even some cultures view them as icons of religious significance. The relationship has moved to the next level in the past few decades. The dogs and cats are no longer considered as pets but are treated as a family member. The owners have been upgraded into pet parents due to the significance of the pets in their lives.
Experts have analysed and identified certain factors that have motivated the change. The increase in the nuclear family structure among the millennial generation could be a contributing factor. The need for companionship and hectic lifestyles make them opt for a pet. The increased awareness about the benefits of owning an age has also been a driving factor. The increase in the per capita income has provided the means to afford the pet care expenses.
As the number of pets is on the rise, it also paves for considerable changes in the pet care industry. The business segment has always augmented itself to cater to the demand in the society. This contributes to the development of the sector. Here are some of the leading trends that can be expected to be instrumental for the growth of the pet care industry in 2020.
Upgrades in the food sector
The pet families in India spend over $270 million on food for their beloved pets. This value is expected to increase in the coming years gradually. The expectations of the pet owners are also significantly changed owing to food quality and compassion. The food market has understood this need and has made adequate changes. They are in the process of developing products that nutrient and fibre rich. This would ensure that the pets who receive vital energy without gaining much weight.
Personalised pet care centres
This segment of pet care has become quite popular in the country in the last few years. This trend is significantly established in the global market. Companies are gradually venturing in the market in India to open up pet care related centres. This can be a pet spa, restaurant or any unit that provides personalised and dedicated care to the animals. These outlets are quite prominent in the metro cities and have garnered considerable consumer attention.
Advancements in health care
The improvements in pet health care have been a boon to the animals and their owners. The pets are prone to significant lifestyle diseases like humans. They might not communicate their discomfort through words. Though the owners might understand the pain through their restless behaviour, it would be difficult to identify the exact cause. The progression in the medical field addresses this issue through their diagnostic, treatment and management techniques. The medications and other lifestyle modifications would help the animals to live a healthy and comfortable life.
Availability of pet insurance
Pet insurance is a prominent segment in the global market. The Indian pet industry has accepted this initiative in recent years. Medicine and health care is an expensive affair for animals and humans. The pet owners require this additional support to ensure quality and secure health care for their loved pet family. Major insurance corporations are currently providing this service, and it is expected to grow in the coming year.
Customised pet accessories brands
The term brand might seem to have a deeper resonance with humans rather than the animals. However, the pets are no strangers to this brand craze. The pet care segment has understood this demand for authentic and reliable pet accessories. Various entrepreneurs and major corporations have launched brands that cater to the specific product that would enhance the safety and comfort of the animals. This is an extensive market that includes blankets, toys, leashes, apparels, among others.
The advent of technology in the industry
The technology has become synonym with development and progression in the industry. It has become a crucial aspect of every business entity. The pet care industry has embraced this advancement and infused it in various avenues. The food and product manufacturing companies utilise them for automation and promotional purposes. One notable advantage of technology in the pet care market is the utilisation of social media for pet adoption. Over six lakhs pets are adopted with the assistance of social media and other platforms.
Stringent implementation of pet protection laws
Cruelty against animals is frowned upon in all countries across the globe. However, this does not stop certain heartless people from harassing and even killing the animals for their selfish pleasures. The Government of India has levied stringent regulations that punish the offenders severely. The coming years will see the strict implementation of these rules and laws. Various private firms, Non-Profit Organisations and volunteer strictly monitor the violence against animals.
Qualified and Professional pet care guidance centres
Most pet families need support and guidance of experts occasionally for the well-being of the animals. This could be simple clarification regarding their diet and behaviour or life-threatening medical emergency. This is a relatively unique concept in the pet care centre that provides round the clock support to the pet owners. The trained and qualified professionals in the field of pet care provide the necessary guidance and support.
Pets are a precious member of the family and can create a positive environment in any household. They help to develop a strong sense of companionship and responsibility, especially among the younger generation. Though these trends change has a tinted business advantage to it, the primary focus is towards enhancing the quality of lives of the animals.
There are over 15 million pets in the country, according to the 2016 statistics. Every household spends a substantial portion of their income in pet care products like food, health and other accessories. This stands as a testimony for the care and love showered upon the pet, and this has propelled the pet care industry to move forward.
This article is written by Rosie Paul, Founder and COO. Global Pet Consulting (woofwoofnow.com).