(MENAFN - iCrowdNewsWire)According to the latest report by IMARC Group, titled“ GCC Pet Food Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026” , the GCC pet food market size reached a value of US$ 206.8 Million in 2020. Looking forward, IMARC Group expects the GCC pet food market to exhibit moderate growth during 2021-2026. 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.
As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviors of the consumers globally–our estimates about the latest market trends and forecast values after considering the impact of this pandemic.
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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.
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Key Market Segmentation:
Market Breakup by Pet Type:
Market Breakup by Product Type:
- Dry Food
- Wet & Canned Food
- Snacks & Treats
Market Breakup by Ingredient Type:
- Animal Derivatives
- Plant Derivatives
- Cereal Derivatives
Market Breakup by Distribution Channel:
- Supermarkets & Hypermarkets
- Convenience Stores
- Online Stores
Market Breakup by Region:
- Saudi Arabia
Key Highlights of the Report:
- Market Performance (2015-2020)
- Market Outlook (2021-2026)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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