Sandeep Murthy , Siddhant Ahuja
14th February 2022

The global pet market for 2021 stands at $154BN and is growing at 7-8% YoY. Of the $154BN global pet market, India contributes a mere $494MM but has the fastest growth rate of 30% YoY. While India is still at its nascent stages in terms of market size, the number of pet parents and their spend on pet tech products and services which was growing gradually is now growing suddenly.

If you've glanced at our pet-tech teaser on social media, you can dive right into this presentation. If you haven't managed to look at the teaser, this is for you :)

Through out the presentation, we tell you all about the why and the what regarding the craze of adopting pets and the funding frenzy that's following suit. Initially, we throw some light and give some credit to the pandemic (unheard of) for the increased humanisation of pets, which has led to the premiumisation of new products and services. Think of personalized dog meals at the click of a button or a monthly subscription treat box for your four legged friends. 

Driving this premiumisation of new products and services is pet tech, which has received the bulk of funding within the broader pet industry. All the stats, highs, growth rates and staggering market data are covered herewith. Did you know that the US accounts for 2/3rd of the global pet market and that more households in the US have a dog than have a child? No,we wouldn't have guessed either!

We deep dive into the pet tech market in the US and understand the various components of it: food, products, services and health. Who would have imagined that personalized fresh pet food would have received $150MM+ in funding in the last two years? Would you have ever thought that tele vet-consultations would increase the average yearly vet visit 4x? Probably not!

We spend time zeroing down on India and where we stand in the global context. Although India is still at a fairly primitive phase in its pet tech development, the growth in the segment is at an unrivaled 30% YoY. We've found that there are only 200,000 pet parents who spend over $1,000 a year on their pets. As this number continues to increase, the Indian pet market will expand multifold. As per our conversations and observations, we believe Indian pet tech founders are building companies for two broad reasons. 

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