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Royal Canin: India to drive 30% of EM pet adoption growth over next 5 years

Our read

India's pet care category is doubling toward $884M by 2025, but Royal Canin's 75% profit drop on flat 5% growth signals that scaling shelf presence and packaging capacity now matters more than margin defense as Godrej, Reliance, and Nestle-Drools crowd in.

The report,

Royal Canin MD says India will drive 30% of emerging-market pet adoption growth over five years. India is a priority market growing 25% annually; competition intensifies with Godrej, Reliance, Nestle-Drools, Wipro entering pet food.

Reported figures

From the report. Source details below

pet population ~39M in 2025
135 recipes, 230-240 SKUs in India
$100M+ pet-tech funding 2021-23

Also in the report

  • 85% global increase from emerging markets
  • India ~1% of Royal Canin global business
  • market $690.5M (2023) to $884.4M (2025)
  • Royal Canin India revenue Rs 473.84 cr FY25 (+5% YoY)
  • net profit Rs 2.21 cr (-75%)
  • EUR 12M (~Rs 100 cr) packaging investment
  • Rs 35,000 cr market projection

Other figures

  • 7 distribution centres
  • global revenue $6-7B
  • Drools valued >$1B

Why it matters for the brand

With India sized to drive 30% of EM pet adoption growth and incumbents like Wipro, Reliance, and Godrej already deploying capital, the window for bolt-on acquisitions of regional pet food brands or D2C platforms is narrowing over the next 12-18 months.

The counter-case

The case against this reading — not reported by the source.

Royal Canin's 75% profit collapse on just 5% revenue growth is the real story - this is a market being commoditized in real time. When the category leader's margins evaporate while volume barely grows, 'category growth' becomes irrelevant. Godrej, Reliance, and Wipro have deeper pockets, distribution muscle, and willingness to subsidize losses for years. The 25% category CAGR gets competed away in promotions, trade margins, and SKU proliferation before it reaches the P&L.

The source

Source Read the source at Mint Published

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