Aquaculture feed producer, formulator and seafood processor Growel Group has launched two pet treats as it enters the fast-growing pet food segment. While the treats, launched in various variants under the Fullr and DatGud brands, are intended for dogs, it plans to launch something similar for cats, followed by pet food.
The pet food launch is just a few weeks away, said MSR vice president Karthik, who is part of the promoter group, pegging the investment at ₹ 80-100 crore over the next five years.
JS Business Director Rama Krishna said that from ₹3,300 crore in 2022, the pet food market in India is expected to reach nearly ₹8,400 crore ($1 billion) by 2027. The treats segment will continue to drive growth, contributing to an augment of ₹ 1,900-2,000 crore by 2027 from the existing ₹ 650 crore.
The Hyderabad-based Growel Group, which consists of several companies, has clocked revenues of over ₹ 2,000 crore in 2022-23, Karthik said, without giving details of the export contribution, as well as investments in an upcoming aquaculture feed plant in Odisha and an additional shrimp processing plant in Andhra Pradesh.
The group’s existing facilities include two manufacturing plants in Hyderabad with a focus on aquaculture healthcare, as well as a feed manufacturing plant and a processing plant in Andhra Pradesh.
For the supply of pet food, the group has added an additional line at its aquaculture feed plant in Andhra Pradesh.
