Affinity Petcare has entered the India market in partnership with pet foods and products maker Scientific Remedies. The company has first launched Affinity Advance, the flagship brand of Affinity Petcare in India, a market that is forecasted to touch $1,932.6 million by 2030.
Garriga said the company is forecasting to become a top three player in clinical nutrition over the next 8 to 10 years.
Affinity Petcare, a family owned business, will have an India portfolio for premium therapeutic, wellness and speciality nutrition products for pets, the company said.
These will be retailed in vet clinics, pharmacies and vet partnered pet shops.
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 said it is aiming for 20 per cent market share within pet foods by 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.A Decipher Market Research Agency report forecasted India’s pet care industry to be growing at a compound growth rate of 16.5 per cent. According to the report, the fastest growing pet care sectors in India are food, accessories, grooming and healthcare, and added that higher category traction is leading to increased investor interest.
Another report by Venture Intelligence said between 2021 and 2022, the pet care industry drew investments of $77 million.
Other large players that have been investing in the category include Drools, Nestle, Mars, Emami and Mankind Pharma.
