India’s pet economy is about to explode: Rs 30,000 crore now, Rs 2 lakh crore by 2032

India’s relationship with pets is undergoing a profound transformation. Once viewed primarily as companions or watchdogs, pets today are increasingly regarded as family members, with owners embracing the identity of ‘pet parents.’ The Covid-19 pandemic further strengthened the human-animal bond, with many households bringing home pets during lockdowns.

That emotional shift is now a business opportunity worth billions. India’s pet-care industry, valued at Rs 30,434 crore ($3.6 billion) in 2024, is projected to grow nearly sevenfold to Rs 2.1 lakh crore ($24.8 billion) by 2032, driven by rising pet ownership, urbanisation and greater spending on companion animal health and wellness, according to IBEF data.

The growth stretches far beyond pet food, into premium nutrition, advanced healthcare, insurance, grooming, boarding, technology and luxury accessories. While dogs and cats continue to dominate India’s pet economy, veterinarians say the definition of a ‘pet family’ is gradually expanding: according to DCC Animal Hospital, dogs account for nearly 60% of its customers, cats 30%, and the remaining 10% includes rabbits, guinea pigs, hamsters, birds, ornamental fish, turtles and even small reptiles.

As ownership of these animals grows, demand is rising for specialised veterinary care, species-specific nutrition, grooming products and accessories, further expanding the scope of India’s pet-care economy.