According to the latest report by IMARC Group, titled “Saudi Arabia Pet Food Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023”, the Saudi Arabia pet food market reached a value of US$ XX Million in 2017. Pet food refers to a highly nutritious specialty product which is formulated based on the nutritional requirements of different domesticated animals. It is manufactured using a wide array of ingredients like meat, poultry, seafood and feed grains. Saudi Arabia is currently witnessing a rise in the adoption of pets which is proliferating the demand for pet food in the region. Additionally, rising disposable incomes of pet owners and growing awareness about the well-being of their pets are further providing a thrust to the market growth.
A large number of pet owners now treat their pets as a family member, thereby leading to the emergence of the pet humanization trend which has escalated the demand for nutritious pet food products. Apart from this, as a substantial part of the essential nutrients are lost during processing, the manufacturers are innovating and launching improved pet food products. In addition to this, they are also introducing premiumized product varieties, such as gluten-free, multigrain, protein-specific and grain-free, catering to the requirements of different pets such as cats, dogs, birds and reptiles. Further, growth of the e-commerce sector, driven by several favorable factors like convenience, easy return policies and low prices, is stimulating the sales of pet food through online channels. As a result of these factors, the market value is projected to reach US$ XX Million by 2023, expanding at a CAGR of XX% during 2018-2023.
- On the basis of pet type, the Saudi Arabia pet food market has been segmented into dog food, cat food and others. In comparison with other pets, cats are considered cleaner, more sacred and affordable, owing to which cat food presently holds the largest market share.
- Based on product type, the market has been segregated as dry food, wet and canned food, and snacks and treats food. Currently, dry pet food represents the biggest segment, accounting for the largest share as it is one of the most convenient types of pet food for storage and feeding.
- On the basis of ingredients, animal derivatives exhibit a clear dominance in the market as they are a rich source of fats, proteins, amino acids, fat-soluble vitamins and minerals. Other ingredients of pet food include plant derivatives and cereals derivatives.
- Based on distribution channels, the market has been classified as supermarkets and hypermarkets, convenience stores, online stores and others. Amongst these, convenience stores currently enjoy the leading position in the market. Pet owners prefer to shop from these stores as they provide diverse product range at one place.
- The competitive landscape of the market has also been examined with some of the key players being Nestlé S.A., Mars Petcare, Hill’s Pet Nutrition Inc. and Del Monte Foods Inc.
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