India Pet Insurance Market Size & Outlook, 2023-2030
India pet insurance market, 2018-2030 (US$M)
Related Markets
India pet insurance market highlights
- The India pet insurance market generated a revenue of USD 160.0 million in 2023 and is expected to reach USD 596.2 million by 2030.
- The India market is expected to grow at a CAGR of 20.7% from 2024 to 2030.
- In terms of segment, accident & illness was the largest revenue generating coverage type in 2023.
- Accident & Illness is the most lucrative coverage type segment registering the fastest growth during the forecast period.
Pet insurance market data book summary
| Market revenue in 2023 | USD 160.0 million |
| Market revenue in 2030 | USD 596.2 million |
| Growth rate | 20.7% (CAGR from 2023 to 2030) |
| Largest segment | Accident & illness |
| Fastest growing segment | Accident & Illness |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Accident & Illness, Accident only |
| Key market players worldwide | Trupanion Inc, Allianz SE, Direct Line Insurance Group PLC, MetLife Inc, Deutsche Familienversicherung, Anicom, Animal Friends Insurance, Figo Pet Insurance, Nationwide Mutual Insurance, Embrace Pet Insurance, Ipet Insurance, Pumpkin Insurance Services |
Other key industry trends
- In terms of revenue, India accounted for 1.4% of the global pet insurance market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, Japan pet insurance market is projected to lead the regional market in terms of revenue in 2030.
- Thailand is the fastest growing regional market in Asia Pacific and is projected to reach USD 19.2 million by 2030.
No credit card required*
Horizon in a snapshot
- 30K+ Global Market Reports
- 120K+ Country Reports
- 1.2M+ Market Statistics
- 200K+ Company Profiles
- Industry insights and more
Pet Insurance Market Scope
Pet Insurance Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
India pet insurance market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to pet insurance market will help companies and investors design strategic landscapes.
Accident & illness was the largest segment with a revenue share of 85.13% in 2023. Horizon Databook has segmented the India pet insurance market based on accident & illness, accident only covering the revenue growth of each sub-segment from 2018 to 2030.
Pet insurance market in India is experiencing rapid growth, positioning it as one of the world's fastestgrowing markets for pet insurance. According to a study published by Creature Companions Magazine, India's pet care industry will rise to USD 800 million by 2025.
This surge in pet ownership indicates a growing need for services like pet insurance to safeguard these beloved companions. Furthermore, a rise in pet adoptions, especially dogs, in India, following the COVID-19 pandemic, coupled with the growing expenses related to their personal care, grooming, and medical needs, appears to be encouraging insurance companies to develop insurance plans tailored for pets.
For instance, in the last three months of 2022, Future Generali India Insurance Company Ltd. sold nearly 25,000 pet insurance policies. These figures highlight the significant potential for market growth in India, as pet owners increasingly seek comprehensive coverage for their pets' health and well-being.
Reasons to subscribe to India pet insurance market databook:
-
Access to comprehensive data: Horizon Databook provides over 1 million market statistics and 20,000+ reports, offering extensive coverage across various industries and regions.
-
Informed decision making: Subscribers gain insights into market trends, customer preferences, and competitor strategies, empowering informed business decisions.
-
Cost-Effective solution: It's recognized as the world's most cost-effective market research database, offering high ROI through its vast repository of data and reports.
-
Customizable reports: Tailored reports and analytics allow companies to drill down into specific markets, demographics, or product segments, adapting to unique business needs.
-
Strategic advantage: By staying updated with the latest market intelligence, companies can stay ahead of competitors, anticipate industry shifts, and capitalize on emerging opportunities.
Target buyers of India pet insurance market databook
-
Our clientele includes a mix of pet insurance market companies, investment firms, advisory firms & academic institutions.
-
30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
-
Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
-
The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of country-level data and insights on the India pet insurance market , including forecasts for subscribers. This country databook contains high-level insights into India pet insurance market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
Partial client list
India pet insurance market size, by coverage type, 2018-2030 (US$M)
India Pet Insurance Market Outlook Share, 2023 & 2030 (US$M)
Related industry reports
Related regional statistics
Sign up - it's easy, and free!
Sign up and get instant basic access to databook, upgrade
when ready, or enjoy our
free plan indefinitely.
Included in Horizon account
- 30K+ Global Market Reports
- 120K+ Country Reports
- 1.2M+ Market Statistics
- 200K+ Company Profiles
- Industry insights and more
