UAE Pet Food Market Outlook to 2024: A $79 Million Opportunity – IMARCGroup.com
IMARC Group’s latest report, titled “UAE Pet Food Market Report: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, finds that the UAE pet food market reached a value of US$ 55 Million in 2018. In the UAE, the pet humanization trend is becoming popular and has led owners to consider their pets as members of the family. This evolution of the relationship between pets and their owners has led to an increase in the awareness about the pet’s health and nutrition. As a result, there has been a rise in the demand for pet food which meets the nutritional requirements of these pets. Moreover, with expanding online retailing services and the growing number of pet shops, the sales of pet food have increased in recent years.
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In line with the growing concerns of owners regarding the health of their pets, the manufacturers have started producing pet food that is healthy, palatable and meets the nutritional requirements of different breeds. They are also developing pet food which aids in reducing or controlling weight and avoiding obesity. Additionally, several restaurants, parks and hotels in the UAE, particularly in Dubai and Abu Dhabi, have now allowed the entry of pets and even started offering special menus and services for them. The growing acceptance of pets in the UAE is expected to bolster the sales of pet food in the upcoming years. By 2024, the market is projected to reach a value of US$ 79 Million, expanding at a CAGR of 6% during 2019-2024.
Market Segmentation:
- Based on pet food types, cat food is the leading type of pet food in the UAE, owing to the preference for cats in the region. Cat food is followed by dog food and others.
- On the basis of product types, the market has been segregated into dry food, wet and canned food, and snacks and treats. Amongst these, dry food dominates the market, holding the largest share.
- The market has further been segmented on the basis of ingredients into animal, plant and cereal derivatives. Currently, animal derivatives represent the most preferred ingredients used in pet food.
- Based on distribution channels, supermarkets and hypermarkets represent the largest distribution channel, accounting for the majority of the overall market share. Other major channels of distributing pet food include convenience and online stores.
- The competitive landscape of the UAE pet food industry has also been examined along with the detailed profiles of the leading players operating in the market.
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