UAE Meat Market Recording a Robust Growth Rate: Likely to Grow at a CAGR of 6.4% by 2027
Published | 23 November 2021
UAE meat market is growing at a high CAGR because of the increasingly health-conscious consumers and the health benefits of meat consumption to the human body. Additionally, the increasing local production of meat species, such as red meat, poultry, and fish, also drives the market growth….
A recent study conducted by the strategic consulting and market research firm BlueWeave Consulting, revealed that the UAE meat market is estimated to grow at a CAGR of 6.4% by 2027. The market's growth is attributable to an increasing working-class population and their disposable income, as well as a growing health-conscious consumer base. Younger people in the UAE tend to consume more meat due to their fascination with bodybuilding foods. The consumption of meat provides a variety of health benefits since it is a good source of protein and nutrients such as iodine, iron, zinc, and vitamins such as B12. Furthermore, the flourishing tourism sector in the country, along with increasing import and export activities, is also emerging as a major factor for the market’s growth. However, increasing penetration and popularity of plant-based foods in the region may act as a hindrance to the growth of the UAE meat market.
Growing Meat Import and Export Activities Driving the Growth of the UAE Meat Market
To meet the growing demand for meat in the country, the UAE government is significantly focusing on expanding meat import activities. Brazil, Australia, the USA, India are the major importers of meat in the UAE. UAE, however, is also focusing on diversifying its importer lists by adding new countries to boost meat consumption in the country. Moreover, Armenia recently announced that it has received a health certificate that permits the export of meat products to the UAE while strengthening bilateral business ties.
Flourishing Tourism Sector in UAE Boosting The Meat Market Growth
The UAE government is significantly investing in economic diversification. Tourism is emerging as one of the crucial components of the Emirati economy. The flourishing tourism is also boosting the demand for meat in the country with local non-vegetarian cuisine being one of the major attractions for the tourists. Furthermore, the increasing number of hotels and restaurants, and small food joints are also fueling the demand for meat in the country. Lamb and mutton are the most favored meat in the UAE due to growing tourism in the country.
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UAE Meat Market - By Product Type
Based on product types, the UAE meat market is segmented into fresh, chilled, and frozen meat. The fresh meat segment holds the largest share in the UAE meat market. The high number of slaughterhouses and butcher shops providing fresh meat on-demand plays a crucial factor in driving the growth of the segment. On the other hand, the chilled meat segment is also growing at a substantial rate because of its prominent demand in restaurants and food chains. These food chains often stock chilled meat to meet their daily demand, which propels the segment’s growth.
Impact of COVID-19 on UAE Meat Market
The unprecedented outbreak of the COVID-19 pandemic significantly halted the growth of the UAE meat market. With increasing COVID-19 cases, the government imposed a strict lockdown in the country. Consequently, there was a steep decline in meat consumption as a result of increased public awareness of zoonotic diseases, closures of hotels and restaurants, as well as insufficient stock in supermarkets. However, the market is anticipated to recover from this setback as the government lifts the lockdown restrictions and tourism resumes in the country.
The leading players in the UAE meat market are Al Manal Foods, Diamond Meat Processing, Dubai Meat Packers, Emirates Meat, Farm Fresh Meat Products Factory, Freshly Frozen Foods Factory LLC, Royal Meat Industry LLC, Sahar Food Industry LLC, Adan Meat Supply Limited, SIAM UAE, Elfab Co. LLC, and other prominent players.
The market is highly fragmented due to the presence of several local and international meat companies. The companies significantly focus on boosting their import and export activities in the UAE for increasing their revenue. They also establish partnerships with local slaughterhouses, restaurants, and food chains to keep the supply of meat flowing. They also offer a wide range of products and work on improving their distribution channel to improve their product penetration. Furthermore, the adoption of competitive strategies like mergers, acquisitions, joint ventures, etc., is also prominent in this market.
The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of the UAE meat market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends of the UAE meat market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyses the growth drivers, challenges, and competitive dynamics of the market.
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