Market Trends of GCC Feeed Premix Industry
Growing Aquaculture and Poultry Sector in the Region
Increasing investments in fish production to meet domestic consumption demands and reduce import dependence are driving the market growth. Companies in the aquaculture sector are collaborating with local governments to boost domestic fish production. In 2024, a joint venture between NEOM, an urban development project in north-western Saudi Arabia, and Tabuk Fisheries Company, supported by the Ministry of Environment, Water and Agriculture (MEWA), announced plans for a hatchery. Set to be completed by the end of 2024, the facility will have a capacity of 42 million fingerlings and marine pens, with projected finfish production reaching 20,000 metric tons annually. This expansion in fingerling and finfish production is expected to increase the demand for feed premix in the region.
Simultaneously, the poultry sector is experiencing a surge in investments, further contributing to the growing demand for feed premix. In 2024, Oman-based Osool Poultry Company partnered with genetics company Aviagen (Ross) and invested OMR 10 million (USD 26 million) to produce fertilized eggs, day-old chicks, and other poultry products. This development is anticipated to increase the need for feed premix to support the nutrition of chicks and hens in the region, complementing the growth observed in the aquaculture sector and collectively driving the feed premix market forward.
Saudi Arabia has the Largest Market in the Region
Meat consumption is high across all GCC countries, leading to a year-on-year increase in meat production to meet consumer demand. In 2021, Saudi Arabia recorded the highest total meat production in the region. According to the Food and Agriculture Organization, in 2022, Saudi Arabia slaughtered 195,498 cattle, followed by Oman with 122,712 cattle, and the United Arab Emirates with 78,406 cattle. These factors are driving market growth in Saudi Arabia and contributing to its regional dominance. Additionally, feed premix demand in Saudi Arabia surpasses that of other GCC countries, primarily due to its larger livestock population.
The Livestock Statistics Publication 2023 for the Kingdom of Saudi Arabia, published by The General Authority for Statistics (GASTAT), reports that the country has 29.4 million sheep, 22 million goats, and 2.2 million camels. In comparison, the UAE has 13.4 million goats, 12.4 million sheep, and 3.4 million camels, as reported by UAESTAT. To address the high demand for feed premixes, the government is implementing new projects and research technologies to meet customer requirements in Saudi Arabia and other GCC countries. These initiatives aim to support the growing livestock industry and maintain the region's position in meat production.
