Pet Retail Surges in UAE, Market to Hit $2 Billion, Grow 700% By 2025
Move over fancy gadgets and the metaverse; pet products are the new fad in the UAE, with the pet retail market projected to see a whopping seven-fold jump in just two years to $2 billion from the estimated $300 million market size currently.
The fast-growing number of “pet parents,” comprising mostly younger owners and expats, coupled with the remote work culture and changing attitudes—the ‘humanizing’ of pets—are the factors cited for the surge in market growth.
The predicted massive demand surge in the market, in turn, has triggered an aggressive expansion drive among leading sector players such as The Pet Shop.
“The rise of ‘pet parents’ in the UAE, as well as in the wider Middle East region, in recent years reflects how central pets have become in our hearts and households, so much so that people feel like they are part of the family,” Amr Hazem, CEO of The Petshop, billed as the UAE’s largest omni-channel pet specialist retailer, told sources.
“This shift also underscores the importance of responsible pet ownership and the need for businesses like ours to offer comprehensive solutions that meet the needs of both pets and their devoted owners,” said Hazem, a former senior corporate executive with global biggies such as Unilever, Americana, and Gulf Food Industries.
He said the UAE has embraced pets like never before over recent years, with it now becoming home to one million owners—mostly conventional pets like cats and dogs.
The pandemic period saw the maximum jump in pet ownership—as much as 30 percent—driven by a craving for the companionship of pets to get through solitude and the growing awareness of the benefits of being around pets, from encouraging physical activity to reducing stress.
Industry insiders said, along with the UAE, the whole Middle East market is also seeing scorching market growth for pet retail, estimated at double the rate of general retail currently.
The region’s market, which has registered an estimated 13 percent growth in 2022, is expected to continue to grow at a 10 percent rate till 2030.
Saudi Arabia is projected to see even a higher growth rate of 16 percent this year.
