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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