Nestle, the Swiss food, and beverages company decide to entire and flourish pet market in India, the company made an announcement. Nestle is known for its world famous fast food brands and beverages such as Maggie, Nescafe, munch, and breakfast cereals.
Today, the food giant is introducing ranges of pet foods under the brand name of Purina Petcare that will have its headquarters in India. Mars stands at the first position to deliver food and beverages with an annual revenue of Rs. 700 million whereas Nestle at second.
Mars is headquartered in Missouri selling pet product across the globe. Along with the existing brands, Nestle plans to bring several others that are not mentioned on the list today. Nestlé’s managing director and India Chairman says, “Our aim to promote a number of brands including skin care cosmetics, healthcare, and pet care services.”
Other than food and beverages, Nestle’s newly adopted India plan includes packages drinking water, cereals, culinary, pet care and skin care. Maggie had faced the number of crisis long back in 2015 when it was detected with a high concentration of lead content.
Hence, nestle decides to launch other new sorts of products to recover the loss the company confronted. Purina Petcare, managing director, Varindra Sewak said, “We aim at bringing pet care products and services in India and march on the topmost position of this industry.”
The dominant player in pet care market is Mars with the market share of 54.9 percent. The annual growth of pet food market in India alone is 16.5 billion with an average growth rate of 25.1 percent. While Indian Broiler group having 12.1 percent market share. The growth rate of this market is estimated to grow by 12.6 percent forecast from the year 2017 to 2022.
Nestle said, “Taking utmost care of pets have increased the demand for veterinary clinics and pet shops.”