GCC Pet Food Market Supported by Changing Perceptions Toward Pets Ownership

According to the latest report by IMARC Group, titled “GCC Pet Food Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, the GCC pet food market size reached US$ 130.3 Million in 2018. Pet food refers to a highly nutritious and energy-dense food product which is manufactured to meet the nutritional requirements of pets. It is prepared using several ingredients such as meat, feed grain, seafood and poultry. Owing to the increasing owners’ awareness and rising pet humanization trend, pet parents are now treating their pets as a part of their family. This has improved the relationship between the owners and their pets, in turn, spurring the demand for pet food products across the region.  

Market Trends:

Owning a pet is considered as a status symbol in different countries of the GCC region like the UAE, especially among the high-income earners. This, coupled with factors like urbanization and the emerging trend of nuclear families, has resulted in the increasing sales of pets in the region. Apart from this, the demand for pet food is also being influenced by the altering perceptions of citizens towards pet ownership. Further, manufacturers are adopting improved production techniques to retain the essential nutrients that are lost while processing. They are also launching premium product varieties, such as multigrain, grain-free, gluten-free and protein-specific pet food, to cater to the individual requirements of various pets. Looking forward, the market value is projected to reach US$ 190.7 Million by 2024, expanding at a CAGR of 9.9% during 2019-2024.

Market Summary:

• Based on the pet type, the GCC pet food market has been classified into dog food, cat food and others. At present, cat food accounts for the majority of the total market share.
• The market has also been segregated on the basis of the product type which includes dry food, wet and canned food, and snacks and treats. Amongst these, dry food dominates the market and represents the leading segment.  
• On the basis of the ingredient type, pet food prepared using animal derivatives holds the dominant segment. Other ingredient types include plant and cereal derivatives.
• Based on the distribution channel, the market has been divided into convenience stores, supermarkets and hypermarkets, online stores, and others. Presently, convenience stores account for the majority of the market share as they offer a wide range of products to consumers.
• Region-wise, the market has been segmented into the UAE, Saudi Arabia, Kuwait, Qatar, Oman and Bahrain. Currently, the UAE is the biggest market, holding the majority of the total market share.

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