Affinity Petcare, a Spanish company specializing in pet foods and healthcare, plans to allocate 20% of its Indian revenue towards marketing and promotional efforts. Their goal in India is to establish a prominent position within the clinical nutrition sector and become one of the top three players, as explained by Jordi Garriga, the International Business Director of Affinity Petcare.
Affinity Petcare has made its foray into the Indian market through a partnership with Scientific Remedies, a manufacturer of pet foods and products. Their initial product launch in India is the well-established Affinity Advance, which is the flagship brand of Affinity Petcare. This move comes as the Indian pet care market is anticipated to reach $1,932.6 million by the year 2030.
Garriga expressed the company’s ambition to secure a position among the top three leaders in the clinical nutrition sector within the upcoming 8 to 10 years.
According to the company, Affinity Petcare, a family-owned enterprise, is set to establish a portfolio of premium therapeutic, wellness, and specialty nutrition products for pets in the Indian market.
These products will be available for purchase at veterinary clinics, pharmacies, and pet shops affiliated with veterinarians.
Rakesh Mohan, executive director, Scientific Remedies, said Affinity Petcare is the world’s sixth largest pet food brand, and pointed to the existing potential to tap the India market. “The majority of pets in Indian households consume home food. But as disposable incomes grow, adoption to specialised pet foods and pet care is bound to increase,” Mohan said.
The company has set its sights on capturing a 20 percent market share within the pet food industry by the year 2033.
“The long term potential of this category is significant. The main task is to educate consumers and make the switch to specialised pet care,” Garriga said.
According to a report from Decipher Market Research Agency, India’s pet care industry is projected to experience a compound annual growth rate of 16.5 percent. The report highlights that the most rapidly expanding segments within the Indian pet care industry include food, accessories, grooming, and healthcare, which has garnered heightened investor attention due to its growing popularity.
In another report by Venture Intelligence, it was revealed that the pet care industry attracted investments totaling $77 million between 2021 and 2022.
In addition to this, prominent players such as Drools, Nestle, Mars, Emami, and Mankind Pharma have also been making substantial investments in the category.