MEA pet food market poised to grow over $6 billion by 2028

Sajjad Ahmad, Deputy Business Editor

During the announcement of the Pet World Arabia 2024 exhibition, the organisers said that the pet industry market in the UAE alone is estimated upwards $300 billion, poised to touch $2 billion by 2025.

The second edition of the region’s pioneering pet industry show, Pet World Arabia 2024, is all set to open its doors from April 22-23 at the Dubai International Convention & Exhibition Centre in the backdrop of the continuing surge in Middle East and Africa (MEA) pet food industry, poised to grow over $6 billion by 2028.

The two-day comprehensive pets and pet industry show which blends trade with entertainment with pet shows and competitions throughout the expo, has grown double in size compared to its debut show last year.

“Pet World Arabia has truly established itself as a show for both trade and pet owners and aficionados of the UAE and the region thanks to its hybrid format, combining leisure for pet hobbyists with robust B2B trade and business opportunities in the region. At this year’s edition, we have over 150 participants representing 200 pet industry brands from 22 countries,” said Nadhal Mohamed, General Manager, Al Fajer Information & Services.

Al Fajer Information & Services are the organisers of Pet World Arabia.

The geographical footprints of the participants have also expanded significantly with participants from Belgium, China, Egypt, Indonesia, Italy, India, Kuwait, the Netherlands, Pakistan, South Korea, Switzerland, Russia, Thailand, Turkey, the UAE and USA.

Nadhal said the post-pandemic surge in pet adoption and ownership has been continuing with double- digit growth and according to a research entity, Market Data Forecast (MDF), the MEA pet food market alone is set to touch $6.4 billion by 2028, growing at a CAGR of 4.32 per cent. The MEA growth is also in line with the global provided by Bloomberg Intelligence (BI) stating that the pet industry is poised to swell from $320 billion to $500 billion by 2030. The US will remain the largest pet market with sales touching $200 billion.

 “With pets becoming increasingly integral members of the family, pet humanization has grown by leaps and bounds, in turn driving value growth and premiumisation of the industry, particularly in countries like the UAE and Saudi Arabia. Pet food may be a large component in the business, but investments into pet care service services, pharmaceuticals for long-life span, cosmetic accessories have all been growing at a fast rate in the region,” said Dr Shree Nair, Editor, PetME magazine and CEO of Showline, which is organising pet shows at Pet World Arabia.

For instance, BI data suggests that global pet pharmaceutical market alone would touch $25 billion by 2030, with increasing investments in complex drugs like monoclonal antibodies for enhanced pet lifespan, he added.

Pet retail, influencers

The consumer facing pet retail industry, both online and offline, have also been growing at a fast pace globally and regionally, while governments in the GCC are also encouraging pet industry investments with the exponential rise in the number of pet parents.

The pet industry market in the UAE alone is estimated upwards $300 billion, poised to touch $2 billion by 2025. The pet industry encompasses from pet food to grooming, day care, gyms and training to veterinary services. A rising number of pet influencers are also contributing to shaping the regional industry, with many platforms avidly followed by pet parents.

Pet World Arabia’s participants reflect the growing pet industry diversity with an array of veterinary experts, breeders, pet grooming and salon operators, insurance companies, trainers, pet furniture companies etc., showcasing their products and services.  Pet shows and competitions will also be an integral part of the expo every day.