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Growel Group invests over Rs 80 crore to enter pet food segment

Aquafeed, formulations maker and seafood processor Growel Group has launched two pet treats as part of its entry into the fast-growing pet food sector. While different varieties of treats under its Fullr and DatGud brands are aimed at dogs, the company also plans to launch similar products for cats, and later pet food.

MSR Karthik, vice-president and member of the promoter group, said the pet food launch is just a few weeks away and investments are expected to be Rs 800-100 crore over the next five years.

The size of the Indian pet food market is expected to reach nearly 84 billion rupees ($1 billion) in 2027 from 33 billion rupees in 2022, business head JS Rama Krishna said. By 2027, the existing Rs 650 crore will be increased.

Mr. Karthik said the Hyderabad-based Growel Group, which consists of several companies, had revenue of over Rs 2,000 crore in 2022-23, without divulging details of export contribution and contribution to the upcoming aquatic complex in Odisha. Investments in culture feed facilities and additional shrimp processing plants in Andhra Pradesh.

The group’s existing facilities include two formulation manufacturing units in Hyderabad, focusing on aquaculture healthcare, in addition to a feed manufacturing unit and a processing unit in Andhra Pradesh.

In a bid to foray into pet food, the group has added a production line at its aquaculture feed factory in Andhra Pradesh.

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