New Delhi: Pedigree owner Mars Petcare has been witnessing double-digit year-on-year growth fueled by the surge in pet adoption and pet parents in the country, said Salil Murthy, MD, Mars Petcare India.
Talking to ETRetail, Murthy said “While the category saw massive growth during COVID-19, the growth has continued even after the pandemic. We are seeing demand not only for the main meal but also in the treats segment. This is true for both dog and cat segments and across dry and wet categories.”
He also added that over the last 3 years, India has been one of the fastest-growing markets for Mars Petcare globally.
“One of the things that Mars can do as a privately held company is take a long-term view and grow the category in the right and responsible way. Thus, the company is super bullish about the opportunity in India.”
Commenting on the growth of the pet care industry, he said that post-COVID, the category has moderated its pace. Adding to this, commodity inflation and currency fluctuations have impacted the industry, globally.
Expanding on the impact of inflation, Murthy said that significant FMCG growth across categories, including pet food, has been driven more by pricing than by pure volume.
“I think this year while we continue to see growth, it’s also been interesting because one has to balance multiple things – investing to meet the global demand and at the same time ensuring that commodity inflation does not iterate at the margins,” he stated.
Earlier this year, Mars Petcare announced an investment of Rs 800 crore for the expansion of the second phase of its manufacturing facility in Telangana.
“We have announced the expansion of our factory in Telangana. A part of this investment is to keep up with the increased demand, create new jobs in the state and further leverage this as an opportunity to export some of our pet food to other markets,” Murthy commented.
Sharing one of the focus areas for the company going forward, he said, “We have a complex regulatory framework in India. We need to have mandatory quality standards to ensure that any pet in India, no matter what brand they use, has access to the best quality pet food and nutrition.”
Murthy added that the government has been super receptive to the feedback and the brand has been working closely with industry bodies, and global scientific experts.