đ¶ Decoding the Problems of India's Pet Care Market
More people are now adopting pets, but facing a dearth of quality products. Hereâs how a startup is disrupting this Rs. 8,000 crore market.
They say if you want to learn how to love unconditionally, learn it from a dog. All you have to do is give them some food and show them some love, and they will literally dedicate their entire lives to you.
But in exchange for such unconditional love, it is our responsibility to ensure that the food that we are putting in our doggoâs tummy is nutritious and healthy.Â
However, because of a lack of awareness, many people sometimes end up feeding such formulations to their furry friends that are designed to be tasty but could lead to serious health issues in the long run.Â
Itâs not their hoomanâs fault- they only want the best for their pet. The problem here is: the lack of options and the unavailability of unbiased information.
And the problem is quite grave. The trend of pet ownership grew exponentially during the pandemic. Now India is the fastest growing pet care market in the world with about 25% CAGR. Such unprecedented growth warrants growth in quality products for pets.
So a startup, Posh Puppy, has entered this space to serve nutritious meals to our paw-buddies. Not just that, this startup aims to be the one-stop-shop for all the knowledge that one needs throughout the life-cycle of their pet dog. Â
đ„© Whatâs healthy, whatâs not?
Dogs need a high-protein diet. Chicken, egg, fish, rosemary, sweet potato, rice, and flax seeds are all ingredients that are beneficial for them. But this doesnât mean that if a formulation puts a tick mark on this ingredients checklist then it becomes healthy. The quantity of those ingredients and the source also matter.Â
Posh Puppyâs formulations are chemical-free and they donât use fillers like corn, wheat, or other gluten-based ingredients to increase the quantity. Fresh meat is always their first ingredient. All this is the core USP of the brand which differentiates it from other players in the market.
This also poses a healthy option against home-cooked meals that have to be strictly monitored by vets (which could be hasslesome).
Thinking this could be a big pinch to the pocket of pet owners? Well, hereâs how Posh Puppyâs pricing compares to some of the biggest pet food brands in India:
Looks like the competition is intense. Even after having the ace of a nutritious product, emerging as a preferred choice against well-established options could prove to be a big challenge. Whatâs Posh Puppyâs plan?
đ° Opportunity Size
Before we get into Posh Puppyâs growth strategy, letâs first understand how big the opportunity is. Having pets is very common in the West. But is India a big enough market?
6 in 10 Indians now have pets. There were 28 million dogs as pets as of 2021. Rs.8,000 crores is spent annually on pet care, out of which 50% is spent on food products.
Posh Puppy has been able to make some dent in this space. It has clocked ~Rs. 60 lakh in revenue in the year 2021-22, with a repeat rate of 54% in the last month of the year. Whatâs more? The brand makes a gross margin of around 70%.
Heartwarming Fact: A part of their revenue goes towards feeding stray dogs.
đ Way Forward
Posh Puppy isnât just rethinking pet food, they are rethinking a petâs lifestyle. They have a âcall a vetâ feature on their website that can answer all your doubts and relieve all the worries of a pet owner at a price of Rs.365/year.
They donât want to restrict themselves to dogs. They are looking to expand in other pet markets too. Thatâs not all, the company is soon planning to release an app where pet owners can connect with other pet owners, and get access to reliable knowledge resources to learn everything that they need to learn about the best practices for raising a pet.Â
The leadership team at Posh Puppy has experience in leading teams at startups and MNCs. The problem of finding suitable pet food was very personal to Roshan Upadhyay (co-founder, Posh Puppy) as his pet dog Silk was allergic to every pet food brand out there. Thus began the journey of Posh Puppy.Â
Want to further explore the pet market and maybe get a chance to invest? Join ReadOn in an Insider Insights Session with Roshan Upadhyay on 28 May 2022 (Saturday) at 7 PM. Bring along all the hoomans and pet entrepreneurs you know. Letâs make this world a better place for all our pet friends!
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