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The Pet Tech Industry: A Growing $32 Billion Opportunity for Entrepreneurs and Investors

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Anil

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5 min read

12 Apr, 2024

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A few years back, I came across a poll that asked,' "Who led the digital transformation of companies?" The options were COO, CTO, and COVID-19. Not surprisingly, most of the answers were COVID-19.


The pandemic led to a widespread acceptance of technology worldwide. In India, people from all walks of life embraced digital solutions for shopping, entertainment, education, food, healthcare, and agriculture. This, in turn, spurred further innovation in these sectors.


One industry that has seen remarkable growth since the pandemic is Pet Tech. It raised $5.25B Billion in investments and is predicted to reach over $32 Billion by 2032 worldwide.



From Microchip to Pet Health Tracker


Pet owners today seek more than basic supplies; they want to provide their furry friends with the same care and comfort as any family member. As a result, the technology sector has developed numerous devices and applications designed specifically for pets in recent years.


Petpuls, a South Korean startup, has created an AI-powered collar that can identify a dog's emotional state. By analyzing 10,000 bark samples from 50 dog breeds, it can recognize with 90% accuracy if the animal is anxious, depressed, or in another state. 





A Connected Pet Food dispenser has made its way to India. Working professionals would love to keep track of their pets' food and water habits. These dispensers have built-in sensors that provide information on the duration of intake and the number of calories consumed. Owners can receive alerts if their pet hasn't eaten anything for a certain number of hours. When asked to one of my close friend who has two dogs and a cat she without second thought said she will defintely buy this product if the cost is affordable and if the products quality lasts long.





New-age pet products like pet tracking cameras, connected collar leashes, interactive ball, and self-cleaning litter trays are now available in India. These products are making pet care more accessible and convenient for pet owners by allowing them to track their pets' behaviour and activity, as well as their whereabouts and health status.



From Telemedicine to pet services at your doorstep


As pet parents, we use our smartphones for various purposes such as entertainment, better health, and communication. This raises the question - why not use technology to improve the well-being and safety of our furry companions too? They are a part of our families and deserve the same level of care and attention.



An Indian startup is developing a telemedicine portal where parents can book an online consultation along with genetic testing in dogs to verify pure breed dogs. This app helps determine early genetic predisposition to particular health problems.


An app is being developed for pet parents to connect with similar breed owners in their area. It includes features for social gatherings in dog parks and even a "Tinder-like" feature for pets to find companions.


India has seen a rise in door services from grooming to fresh pet food delivery. Some of the noted startups making noise in the pet tech space.


  • Bengaluru-based startup Kuddle is making good progress in acquiring the pet services market. 
  • Licious invested startup Pawfectly Made delivers vet-approved fresh food that suits your pet's needs. 
  • Heads Up for Tails introduced fresh meals tailored for specific pet needs. They also offer special Chicken Biryani for dogs. I am sure they will include Raitha in the future to keep pet parents happy.
  • Deepika Padukone funded Supertails, which has started providing online vet consultancy at an affordable cost.
  • Happypet.care brings the entire pet industry together in one platform enabling business and services for better pet care.


Book your dog walker, dog trainer, pet sitter, groomer, and many more. Such services are introduced through the app to capture the untapped few billion dollar market in India.



It's exciting to see how techies are developing cutting-edge solutions to address pet health and safety concerns in India. As more and more people across the country are embracing the joy of pet ownership, the demand for innovative pet care technology is only going to grow. With the widespread availability of smartphones and the increasing need for better pet care, it's clear that the pet tech industry in India is poised for explosive growth in the coming years.


About the Author


"I am Anil Reddy, the Founder and Design Director at Lollypop Design Studio. Last year, I invested in a pet startup called Pet Warehouse, which earned me significant returns with a high valuation. I believe this industry can be disrupted by combining data, technology, design, and love for pets."


If you have any ideas for the pet industry, feel free to let me know.

Conclusion

You know the pet industry is a goldmine. The pet industry is thriving, as new technology and advances in pet care continue to emerge. Despite personal and economic struggles, many pet parents prioritize their pet's health and happiness. As a result, the industry continues to grow and show no signs of slowing down anytime soon.

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