What Does it Really Cost to Own a Pet?

Imagine this: you just returned home from work, sat on your couch tired, and suddenly, a furry friend of yours made its way to curl you.

Life feels perfect at this moment, isn’t it?

However, “Pet ke saath life ho jaati hai paw-some, par unke monthly maintenance ke liye budget bhi chahiye wholesome”. 😄

Putting it simply, welcoming a pet will add extra monthly expenses to your budget.

According to Dogster statistics, around 55% of Indians own a pet or more. This figure has been rapidly increasing since the arrival of Coronavirus in 2020.

On combining, the overall % of people with pets crossed 100 mark, which seems factually incorrect. But all these data include one more interesting fact, which is that around 43% out of all the pet owners share their home space with more than one pet.

Seeking companionship during quarantine times, people became more willing to adopt pets. This led to a 5% rise in India’s pet population from ₹221.4 crore to ₹246 crore between 2019 to 2022.

Another major factor behind this rise is increasing disposable income. As incomes rise, people will spend more on their pets, including food, toys, grooming, and healthcare.  

Interestingly, the ‘pet parent’ culture of treating pets like children instead of animals is also trending. Many couples often adopt one as a test run to check whether they are ready to start their family.

So, dear reader, if you are planning on getting one (or if you already have one and want more), let me help you calculate how much it will cost.

Different Pets and Their Ranging Impact on Your Bank Balance

To start, keeping your pet happy and healthy by providing a regular lifestyle doesn’t put a hole in your wallet. But it may not be the same if you want to give your pet full-on royal care.

I. Cost of Providing a Regular Lifestyle

Here’s what you need to consider:

1. Food: Depending on your pet's size and dietary needs, you can expect to spend anywhere from ₹200 to ₹4,000 monthly.

While going for a more premium food brand, Royal Canin’s cost could easily run up to ₹4,000 or more. The food costs also vary depending on your dog’s breed. For giant dog breed, the cost of their nutritional needs can be quite high.

2. Veterinary Care: Depending on your pet, monthly regular check-ups and annual vaccinations may add around ₹500 to ₹3,000 to your budget. However, emergency vet visits can skyrocket your expenses unexpectedly.

3. Grooming and Hygiene: Monthly grooming spendings can range from ₹300 to ₹2,000 depending on the pet, its breed, its size, and grooming needs.

4. Miscellaneous Supplies: Considering toys, leashes, bowls, and bedding—this could add another ₹500 to ₹1,500 monthly.

II. Cost of Providing a Premium Lifestyle

If you're someone who believes that your pet deserves nothing but the best, the costs can go up significantly. Let’s look at a rough monthly lifestyle budget for it:

a. Gourmet Food: High-quality or specialised diets could push pet food costs up to ₹2,000 per month.

b. Luxury Grooming Services:  A single session of professional grooming services including spa treatments might cost you ₹500 to ₹2,000.

c. Training: Professional pet training can cost between ₹2,000 and ₹6,000 per course.

d. Pet Sitters/Dog Walkers: Hiring someone for daily walks or care can add another ₹800 (hourly) to ₹5,000 monthly.

e. Health Supplements and Specialty Care: If you want to give your pet special medications or supplements, this could easily add some extra thousand rupees in your monthly budget.

f. Insurance: Pet insurance premiums in India can vary from ₹500 to ₹3,000 per month based on coverage options.

When you sum these expenses, the average monthly cost of providing a regular lifestyle for your pet (varies if you have dog, cat, fish, etc.,) can range from approximately ₹1,500 to ₹10,000, while a premium lifestyle might cost as high as ~₹18,000 for your pet.

If you think about India, pets are increasingly treated as family members. As a result, the Indian pet care market, with this perception, is leading pet owners to put a significant amount of money into their care, food, and wellness services.

On the other hand, the Indian pet care industry is on a remarkable growth trajectory. Since 2020, with the arrival of Corona virus, this industry has consistently expanded at an impressive 22% annual growth rate.

As of 2023, the market is valued at approximately ₹82,585 crore. Even certain projections indicate that it will reach ₹2,10,000 crore by 2032.

The Surprising Costs of Pampering Your Pets

When it comes to pricing, some pet products can be a tough competition with our daily products and treats! Similarly, a pet peanut butter (200gm) starts around ₹200, double the starting price of human peanut butter of same size, which starts at ₹100.

Surprised? You will be shocked next after looking at these pet products available in the market:

• Dogs ice cream
• Pet grooming brushes
• Paw wax and creams
• Biodegradable pet wipes
• Long-lasting perfumes
• Dog/Cat boots
• Dog massage oil

Whether you want your pet to lead a simple life or a glamorous one, the petcare industry in India has solutions for every budget ⮬. So go ahead and embrace the pet-parent life. Just remember to keep an eye on your wallet, like I keep on mine!

And do let me know in the comments what your monthly cost for your pet’s care is.

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