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The increasing prevalence of chronic diseases, stronger digital health penetration accelerated by the pandemic and early behavioral changes observed amongst the Indian consumer piqued our interest into the space. It goes without saying that we deeply care about spaces where large problems need to be addressed and strongly appreciate companies solving for these numerous problems.
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.
Of the $18BN BPC market, the top 10 FMCG companies comprise over 30% of the market. The 8 major brands are owned by 3 FMCG giants- Unilever, P&G, and L’Oreal. These 3 companies have a combined age of 388 years. Take a moment to think about these seemingly contradictory facts- in a sector where companies have 4 centuries of experience, how have 80+ brands come up in the last 5 years? Why can’t the legacy brands keep up? We try to answer these
Going omni-channel is especially useful for brands with an only physical presence. This is especially relevant in India. As the country went under lockdown, there was also a race to pivot to a digital offering. Who would be the first one to offer the best quality product? We feel the ability to expand and have roots in an omni-channel distribution space would be an important yardstick to measure the company’s success in the fitness industry.
In one breath, India is called the ‘pharmacy of the world’; and in the very next, it is the ‘world’s diabetes capital’. This paradox encapsulates the state of Indian healthcare today.
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