New business categories in India

According to London-based global research firm Euromonitor International, the current sales value of the Indian pet market, inclusive of pet food, pet care products and healthcare, stands at Rs 12.749 mio. (about € 184 700). This number is poised to grow to Rs 208.589 mio. (about € 3 mio.) by 2016. With a steady rise in pet adoptions among the middle class and elite, and the consequent expenditure on the same, India is expected to emerge as one of the markets to watch out for in the coming years, being still at a nascent stage but with plenty of potential for all stakeholders. Increased spending on pets Changed perceptions towards pets have given rise to increased adoptions, and increased disposable incomes have given rise to increased spending on pets, which in turn has fuelled the rise of new, pet-related businesses. Besides the pet food, pet care and pet healthcare categories, a host of pet-­related businesses are being spawned by budding entrepreneurs in the hopes of being “in the right place at the right time”. Interestingly, many of those starting out in the pet arena are leaving behind established careers at banks, schools, IT firms, etc, to try their hands at the growing trade. The following are some new business categories in the Indian pet industry: Pet match-making portals: websites such as dogshaadi.com and pet-shaadi.com have emerged to cater to the match-­making needs of pet owners for their pets. Pet bakeries: pet-specific bakeries such as the Rocky Dog Bakery, The Spoilt Brat Barkery and Waggy Bags Gourmet Dog Barkery have appeared in cosmopolitan cities like Bangalore and Mumbai. Luxury resorts, home stays & boarding: luxury and budget resorts, home stays and boarding only for pets have sprung up across the more affluent Indian cities. These resorts are becoming extremely popular, as they serve as safe, clean and somewhat luxu­rious lodges for beloved pets of busy, nuclear familiy owners, while the latter vacation, visit family, or go away on official duty. Most of these resorts follow a similar format, tending to be in farm areas in the suburbs, with ample acreage for play, in-house kennels, spas and pools. Pet home stays are mostly cosy apartment dwellings for smaller pets. Approxi­mately 50 such establishments – large scale and small – can currently be found across India, with more joining the ranks almost every other month. Examples of luxury pet resorts are “Canine Elite” in Delhi and “The Peppy Paws Pets Resort” in Pune. 5 star…