GCC Pet Food Market Supported by Changing Perceptions Toward Pets Ownership - IMARC GroupThe GCC pet food market has witnessed strong growth over the past few years which can be accredited to rising pet humanization, the emerging trend of nuclear families and the introduction of premium products by manufacturers.
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.
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Market Summary:
Market Breakup by Pet Type
1. Dog Food
2. Cat Food
3. Others
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.
Market Breakup by Product Type
1. Dry Food
2. Wet & Canned Food
3. Snacks & Treats
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.
Market Breakup by Ingredient Type
1. Animal Derivatives
2. Plant Derivatives
3. Cereal Derivatives
4. Others
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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.
Market Breakup by Distribution Channel
1. Convenience Stores
2. Supermarkets & Hypermarkets
3. Online stores
4. Others
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.
Competitive Landscape
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.
Explore related research reports: https://www.imarcgroup.com/categories/food-beverages-market-reports
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