India Pet Insurance Market Size & Outlook, 2024-2030
India pet insurance market, 2018-2030 (US$M)
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India pet insurance market highlights
- The India pet insurance market generated a revenue of USD 662.1 million in 2024 and is expected to reach USD 1,693.6 million by 2030.
- The India market is expected to grow at a CAGR of 17% from 2025 to 2030.
- In terms of segment, accident & illness was the largest revenue generating coverage in 2024.
- Accident & Illness is the most lucrative coverage segment registering the fastest growth during the forecast period.
Pet insurance market data book summary
| Market revenue in 2024 | USD 662.1 million |
| Market revenue in 2030 | USD 1,693.6 million |
| Growth rate | 17% (CAGR from 2025 to 2030) |
| Largest segment | Accident & illness |
| Fastest growing segment | Accident & Illness |
| Historical data | 2018 - 2023 |
| Base year | 2024 |
| Forecast period | 2025 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Accident & Illness, Accident Only, Other Coverage |
Other key industry trends
- In terms of revenue, India accounted for 3.6% of the global pet insurance market in 2024.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China pet insurance market is projected to lead the regional market in terms of revenue in 2030.
- South Korea is the fastest growing regional market in Asia Pacific and is projected to reach USD 380.4 million by 2030.
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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 99.56% in 2024. Horizon Databook has segmented the India pet insurance market based on accident & illness, accident only, other coverage 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. Each year, approximately 600,000 pets find homes through adoption in the country, with dogs being the most favored choice, with an estimated 31 million pet dogs expected by the close of 2023.
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.
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Target buyers of India pet insurance market databook
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Our clientele includes a mix of pet insurance market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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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.
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India pet insurance market size, by coverage, 2018-2030 (US$M)
India Pet Insurance Market Outlook Share, 2024 & 2030 (US$M)
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