Market Forecast By Type (Dry Food, Wet Food, Snacks/Treats), By Animal (Dog, Cat, Others) And Competitive Landscape
Product Code: ETC383919 | Publication Date: Aug 2022 | Updated Date: May 2024 | Product Type: Market Research Report | |
Publisher: 6Wresearch | No. of Pages: 75 | No. of Figures: 35 | No. of Tables: 20 | |
Saudi Arabia Pet Food market currently, in 2023, has witnessed an HHI of 2404, Which has decreased slightly as compared to the HHI of 2573 in 2017. The market is moving towards moderately competitive. Herfindahl index measures the competitiveness of exporting countries. The range lies from 0 to 10000, where a lower index number represents a larger number of players or exporting countries in the market while a large index number means fewer numbers of players or countries exporting in the market.
Saudi Arabia Pet Food Market Report thoroughly covers the market by type and by animal. The outlook report provides an unbiased and detailed analysis of the ongoing Market trends, opportunities/high growth areas, and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.
Saudi Arabia Pet Food Market is anticipated to grow in the forecast period on account of increasing pet ownership and changing attitudes toward pet care. Pet owners are seeking high-quality and specialized pet food products to meet the nutritional needs of their furry companions. This has led to a demand for a wide range of pet food options, including premium, natural, and functional pet foods. The market is influenced by factors such as urbanization, disposable income, and the humanization of pets, driving the need for innovative and health-focused pet food offerings.
According to 6Wresearch, Saudi Arabia Pet Food Market size is projected to grow by 3.78% resulting in a market volume of US$275.80m during 2023-2029. In the Saudi Arabia pet food market, changing lifestyles and the increasing humanization of pets are driving factors. As more households consider pets as part of their families, the demand for high-quality and nutritious pet food products is rising. Pet owners are seeking specialized diets and convenient options that cater to the specific dietary needs of their pets, thereby contributing to the growth of the pet food market. The humanization of pets has been a driving force behind the market's expansion. Pet owners are increasingly seeking pet food that mirrors human food trends, emphasizing natural ingredients, organic options, and health-focused formulations. As a result, pet food manufacturers have introduced premium and specialized pet food products to cater to these preferences, thus stimulating market growth. There are certain challenges present in the market leading to a reduction In Saudi Arabia Pet Food Market Growth. The Saudi Arabia Pet Food Market faces the challenge of educating pet owners about the nutritional needs of their animals and promoting the importance of balanced and appropriate diets. Meeting regulatory requirements for pet food formulations, labeling, and safety standards poses hurdles for manufacturers. The market must also navigate preferences for natural, organic, and locally sourced ingredients while ensuring affordability and quality. There are cultural and religious considerations related to pet ownership and pet food in Saudi Arabia. For example, Islamic dietary laws influence the choice of pet food, particularly regarding the type of meat used in pet food formulations. Companies operating in the market must navigate these cultural nuances and tailor their offerings to meet local preferences and requirements.
The government has introduced various policies and schemes to regulate and promote the pet food market within Saudi Arabia Pet Food Industry. These initiatives focus on ensuring the quality and safety of pet food products, with stringent regulations in place to meet specific health and safety standards. The government encourages domestic pet food production and also supports the local production of the food for the reduction of reliance on imports. This commitment aligns with broader economic diversification efforts of the government and also creates job opportunities for local businesses. There is a presence of Regulatory bodies to monitor and enforce compliance with these policies, which ensures that pet food products available in the Saudi market adhere to rigorous quality control measures and are safe for consumption of the pet.
The Pet food market in Saudi Arabia experienced shifts in demand patterns during the COVID-19 pandemic. As more people spent time at home, the adoption of pets increased, leading to a higher demand for pet food products. However, the market also faced challenges related to supply chain disruptions and changing consumer spending patterns. Some consumers focused on essential items, while others sought premium and nutritious pet food options. Manufacturers had to adapt to these changing dynamics and ensure the availability of pet food products while navigating operational challenges. The economic uncertainties influenced consumer spending patterns, causing fluctuations in demand for premium and specialized pet food products. Despite these challenges, the market demonstrated resilience and adaptability, with companies focusing on e-commerce and home delivery options to ensure a steady supply of pet food products to meet the evolving needs of pet owners during the pandemic.
There are several leading players have established a strong presence in the market. International brands such as Royal Canin, Purina, and Hill's Science Diet are prominent players, offering a wide range of pet food products tailored to different pet needs, including dry kibble, wet food, and specialized diets. Local companies like Almo Nature and Happy Dog have also made significant inroads by catering to consumer preferences for natural and organic pet food options. Additionally, pet retail chains like Pet Arabia and Pet Land play a pivotal role in distributing various pet food brands to consumers, providing a one-stop shopping experience for pet owners. These key players collectively contribute to the competitive landscape of the Saudi Arabia Pet Food market and offer a diverse array of choices to meet the nutritional requirements and pet owners in the region.
Dry pet food holds a prominent share of the market and is expected to witness major growth in the forecast year and it will lead to an increase in Saudi Arabia Pet Food Market Share. It is a popular choice among pet owners for its convenience, durability, and affordability. Various brands offer a wide range of dry food formulations to cater to various pet needs, such as age, size, and dietary requirements.
According to Shivankar, Research Manager, 6Wresearch, the dog segment is expected to witness remarkable growth on the account of the increasing popularity of dogs as pets in the country. Various brands offer dog food products that cater to different breeds, sizes, and life stages, contributing to the growth of the segment.
The report offers a comprehensive study of the subsequent market segments: