The edible meat market in the United Arab Emirates reached XXX thousand metric tons, regarding volume, and USD XXX.XX million, regarding value, in 2014. In terms of value, the sector witnessed growth at a CAGR of 4.71% from 2010 to 2014 and is expected to increase at XX.XX% YoY, till 2020. As of 2014, UAE imported live bovine animals worth USD 31 million, which is a 2.07% jump than the average of the last five years. It also exported live bovine worth USD 8 million to neighboring GCC nations in case of shortage of meat. Additionally, the country imported bovine meat worth USD 250 million (40 thousand tons) in 2014, mainly from Australia, which is a jump of 0.72%, as compared to last year.
Key factors driving the growth of the edible meat market industry of UAE are the inclination of growth towards tourism, robust economic growth, changing consumer trends, and advanced technologies. Strong economic growth leading to higher protein consumption, growing number of domestic, as well as, expat population, coupled with rising preference for red meat (both sheep and bovine meat) are driving the meat market in the region. Moreover, most of the working-class population in UAE prefer a healthy life. Processed meat is the primary food choice of people.
Restraints and Challenges
Arid climate, resulting in poor fodder availability, causes a natural shortage of livestock and hence low meat production. There is a high shortage of pasture lands, which are essential for grazing and cultivation of cattle. 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.
UAE imports most its meat from Australia, Brazil, India and the USA. It also exports meat to the neighboring GCC nations like Qatar, Bahrain and Kuwait. Rising number of free-trade agreements (FTA) have facilitated the trade of meat and other allied products. To reduce reliance on imports, the government has supported R&D in this industry, as well as, setting up of required infrastructure in the region. UAE provides the subsidy for investment in storage and slaughter house capacity. Hence, there are a lot of opportunities in this sector in UAE
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.