Meat is an essential part of the Omani cuisine. The per capita meat consumption in Oman is more than the world average. Meat consists of bovine (beef), poultry (chicken) and goat & sheep (or lamb). Besides being the world’s largest consumers of meat, the GCC countries are also among the world's largest importers of meat. Oman is the smallest consumer in the GCC region, with a share of just 1.43% of the overall GCC consumption. Due to its location and lack of natural resources for livestock production, Oman is unable to meet its domestic demand. This has compelled the country to import meat from other nations. The Oman meat market is expected to reach XXX thousand tons, regarding volume, by 2020. It is forecasted to increase at a CAGR of X% between 2016 and 2021.
Key factors in the growth of the edible meat market of Oman are the inclination of growth towards tourism, robust economic growth, changing consumer trends, and advanced technologies. Growing population is another factor responsible for the increased consumption. Moreover, increased affluence of the local population has led to a shift in the consumption patterns from a carbohydrate-based diet to protein-based diet. This has increased the demand for meat and meat products. Urbanization and growing popularity of the retail format, together, are enhancing the consumption of processed food, milk and meat.
Restraints and Challenges
The main constraints to livestock production are Oman's limited land and water resources, as well as, climatic conditions. By the end of 2014, Oman used less than 8% of its cattle, 7% of its sheep, 8% of its poultry and 6% of its fresh liquid milk for domestic consumption. In addition to the already existing constraints, classification of red meat and processed meat as, possibly, carcinogenic foods by the WHO is reducing the consumption of these products in certain sections of the educated population.
The country is looking at developing a comprehensive plan for livestock development, by 2018. This comprises of technological, institutional and policy options towards integrating domestic feed production, feed imports from neighboring countries, and development of modern feed lots. By developing the animal husbandry sector, meat imports can be reduced, with hydroponics being a worthwhile solution for expanding fodder production to feed the growing animal population. Hence, there are a lot of opportunities in Oman’s meat market.
About the Market
o Drivers: What are the key factors driving growth in the market?
o Restraints: Most relevant threats and restraints which hinder the growth of the market?
o Opportunities: Sectors of high return or quick turn around on investment?
o Market Concentration: Porter’s 5 Forces Analysis quantified by a comprehensive list of parameters.
o Market Share Analysis: Top players in the market (by value and volume).
o Company Profiles: Pertinent details about leading, high growth, and innovation-motivated stakeholders with contact, operations, product/service offerings, financials and strategies & insights.
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