Horse riding in the Middle East dates long back and Arabian horses are among the most famous varieties that the region boasts off. The attraction and passion for horses across the Middle Eastern countries are driving the Middle East high performance horse feed market, as they majorly participate in horse shows, world cup, and other athletic sports. Many trainers follow recipes passed down to them after the success of generations; however, many owners rely on commercial feed of various companies to give the horse the best diet. The cutting edge nutritional research which involves low carb feeds are attracting the horse owners. Hence, the Middle East high performance horse feed market is growing. Horses are superior athletes that physically adapt through evolution. Although for performance horses, energy is of utmost importance. This energy is provided through the high performance horse feeds such as zoysia grass, bermuda grass, timothy hay, cracked corn, beet pulp, and others. While these are gaining the most attraction Racing Blue, one of the leaders of equine nutrition manufacturer has invented a horse feed supplement named STORM®. This unique formulation providing a unique combination of ingredients, boost the muscle carnosine content of the horse aiding excellent performance. Horse breeding is one of the most difficult tasks and supplying them with perfect horse feed to create an impact on their performance is tiresome. With this solution, the high performance horse feed manufacturers are going to attract consumers, directly boosting the Middle East high performance horse feed market.
In 2018, the Middle East high performance horse feed market registered a revenue of around $50m, which is expected to witness an upsurge at a CAGR of 3.4%, during the forecast period 2019-2025.
Middle East High Performance Horse Feed Market Analysis: Key Application
In Dubai, horse riding is a most popular sport, which can be witnessed by rising number of horse riding clubs spurring in the region coupled with the majestic racecourses. From spending time with the horses to enjoying rides on them, these well maintained equestrian clubs offer a variety of options. The clubs also offer riding trips, polo, show jumping, several riding activities, and others. The horse riding clubs use high performance horse feed to keep the horses fit for extreme activities. These lucrative activities at the horse riding clubs are getting leveraged by the increasing disposable income of the Middle East’s working population. As per the reports of The World Bank, the GDP of the Middle East and North Africa was about $3.617 trillion in 2018, which was $.3.275 trillion in 2017. A part of this increasing GDP is evincing growth in disposable income of the Middle East populace. Hence, with this rising disposable revenue, the population is going to invest more on their passion for horse riding. Therefore, horse riding clubs will thrive further. The emergence of more horse riding clubs supporting the high performance horse feed market will increase at a CAGR of 4.8% during the forecast period 2019-2025.
Middle East High Performance Horse Feed Market Trends & Growth Drivers:
The inheriting ability of an athletic horse is impressive. However, the optimal performance of any equine sport is achieved through the increased energy substrate supply. The equestrian and racing activities of the Middle East is regulated by the Emirates Equestrian Federation (EEF). As per the reports of the Fédération Équestre Internationale (EFI), UAE owners possess around 7,282 registered horses and 87 racing stables. Around $650 to $1,090 or more amount is invested monthly on stable, feed, and grooming. The annual expense of the UAE on equine equipment including treatment and sheltering of horses amount up to $32.67 million. According to the reports of the United States Department of Agriculture, the Middle East and North Africa region account for a notable and increasing portion of the global food and feed imports. Also, the dearth of grazing pastures and harsh climates create a requirement for high performance horse feed to maintain the quality of several World Cup and horse shows that happens round the clock in the region. Here are the drivers and the trends contributing to the expansion of the Middle East high performance horse feed market –
· Richest Horse Shows in the Region to Create a Demand Influx in the High Performance Horse Feed Market–
Prime Minister and Vice President of the UAE and Ruler of Dubai, HH Sheikh Mohammed bin Rashid Al Maktoum has not only reckoned huge fortunes to the country by his passion for horse racing but has also contributed in creating some of the richest horse shows in the Middle East as well as the world. He has also taken the shows from localized affair to a global one, which attracts a huge audience from across the world benefiting Middle East's tourism economy. These shows require working horses, which must be fed adequately to ensure optimal health and performance. A show jumping competition in Dubai offers around $70,800 prize money and the horses bought for the occasion with $5,000 in Eastern Europe is sold at around $80,000 in the UAE if the horses perform well. Hence, with the growth of such shows, there will be an increase in the Middle East high performance horse feed market demand.
· Dubai World Cup to Contribute Directly to the Middle East High Performance Horse Feed Market Expansion –
Founded by Sheikh Mohammed Bin Rashid Al Maktoum, the Dubai World Cup offers a platform to several horse runners to compete every year in order to showcase their expertise. This is one of the main attractions of the region that captivates guests from over the world, and they can choose from a variety of hospitality options to work with their budget. This power racing is one of the world's richest races with funds of around $10 million. This World Cup requires a lot of high performance horse feed to maintain the horses. Therefore, the Middle East high performance horse feed market is going to flourish further in the upcoming years.
· The UAE Endurance Racing to Drive the Middle East High Performance Horse Feed Market –
Endurance races across the desert by Arabian horses are amongst the most famous races in the UAE, held mostly between October and March months of the year. In the UAE there are around 2,000 registered active endurance horses and require unique high performance horse feeds. Havens Olympic horse feed such as Kentucky Lite E. with black oats, Power-Plus Mix with extra electrolytes, Reform-Herbal-Muesli, Derby-Compact brok performance-pellets, and others are some of the lucrative ones. This various horse feeds are loved by the consumers and directly contributing to the growth of the Middle East high performance horse feed marketplace.
· Qatar Racing Equestrian Club's Aim to Compete on an International Level to Boost the Middle East High Performance Horse Feed Market Outlook –
In 2018, Qatar Racing Equestrian Club General Manager, Nasser bin Sherida al Kaabi announced that they are trying to improve their thoroughbreds to attain an international level and compete against the leading racing nations. The vast disposal wealth of the region is contributing to the development of the Arabian horses, which is a part of Qatar's tradition and culture. These also help in making Qatar one of the world's fastest-growing economic countries. In order to maintain the stature and attain the aim, high performance horse feed will be an inevitable component, thereby escalating the Middle East high performance horse feed market size.
· Biofarma SA's Complete Range of Derby Equine Nutrition Horse Feed Products to Create an Upsurge in the Middle East High Performance Horse Feed Market –
In 2017, Biofarma SA, a company that works on specializing animal health and nutrition, visited the Middle East for the first time with its complete range of Derby Equine Nutrition horse feed products. These serve as an essential supplement for both foals and fully grown horses to boost their performance. This innovative horse feed products attracted several consumers, thereby helping in the Middle East high performance horse feed market growth.
· Agathia Group and Anderson Hay and Grain's joint venture in the UAE to create a demand influx in the Middle East High Performance Horse Feed Market –
In 2017, these two companies announced a joint venture to supply the US forage and feed products to the United Arab Emirates and GCC (Cooperation Council for the Arab States of the Gulf). This high-quality feed will be targeting a gamut of horse forms spread across Arab states and Gulf, and it will increase the Middle East high performance horse feed market revenue in the upcoming years.
Middle East High Performance Horse Feed Market: Competitive Landscape
The principal market leaders who are currently holding maximum high performance horse feed market shares in Middle East and are focusing on the expansion of their manufacturing capacity to gain an edge over other market players are Bayer AG (Bayer Animal Health), Boehringer Ingelheim Group, Ceva Sante Animale S.A., Eli Lilly and Company (Elanco), Equine Products (UK) Ltd, Merck & Co. (Merck Animal Health), Merial Sanofi, Purina Animal Nutrition LLC, Vetoquinol S.A., Zoetis Inc., and others.
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