EVOLVING OPPORTUNITIES AND TRENDS IN THE PET INDUSTRY – AN ANALYTICAL STUDY ON PET PRODUCTS AND SERVICES

Abstract

Indian people are increasingly attached to their pets with animals such as dogs, cats and birds often regarded as part of the family. People became more aware of the hardships some animal suffer, motivating many animal lovers to adopt stray cats or dogs as pets in India. The concept of owing pets and taking care of them is a very urban phenomenon in India. The growth of the market therefore is largely dependent on the pace of urbanization; the infrastructure changes of the past two decades signal a very positive and rapid movement here. The Indian consumers idea on spending money on buying pets, pets products and pets services is slowly giving way to the feeling of pet humanization and sensitization, trends well demonstrated by the rapid rise in adoption rates of pets. Many economic experts believe that the pet industry is one of the most stable industries around the world. Some pet-related products and various supplies, do not fare quite as well, but overall, the industry tends to hold up. This is thought to be partly because people see their animals as an extension of their families. There exist vast opportunities for sale of Pets, Pet Products and Services Industry to boost up in India in rear future. This study reveals the Evolving opportunities and trends in the Pet Products and Services Industry in Coimbatore District.