Saudi Arabia Pet Insurance Market Size & Outlook
Saudi Arabia pet insurance market, 2018-2030 (US$M)
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Saudi Arabia pet insurance market highlights
- The Saudi Arabia pet insurance market generated a revenue of USD 34.1 million in 2023 and is expected to reach USD 109.2 million by 2030.
- The Saudi Arabia market is expected to grow at a CAGR of 18.1% from 2024 to 2030.
- In terms of segment, accident & illness was the largest revenue generating coverage type in 2023.
- Accident & Illness is the most lucrative coverage type segment registering the fastest growth during the forecast period.
Pet insurance market data book summary
| Market revenue in 2023 | USD 34.1 million |
| Market revenue in 2030 | USD 109.2 million |
| Growth rate | 18.1% (CAGR from 2023 to 2030) |
| Largest segment | Accident & illness |
| Fastest growing segment | Accident & Illness |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Accident & Illness, Accident only |
| Key market players worldwide | Trupanion Inc, Allianz SE, Direct Line Insurance Group PLC, MetLife Inc, Deutsche Familienversicherung, Anicom, Animal Friends Insurance, Figo Pet Insurance, Nationwide Mutual Insurance, Embrace Pet Insurance, Ipet Insurance, Pumpkin Insurance Services |
Other key industry trends
- In terms of revenue, Saudi Arabia accounted for 0.3% of the global pet insurance market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Middle East & Africa, South Africa pet insurance market is projected to lead the regional market in terms of revenue in 2030.
- Kuwait is the fastest growing regional market in Middle East & Africa and is projected to reach USD 15.5 million by 2030.
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Pet Insurance Market Scope
Pet Insurance Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Saudi Arabia pet insurance market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to pet insurance market will help companies and investors design strategic landscapes.
Accident & illness was the largest segment with a revenue share of 86.51% in 2023. Horizon Databook has segmented the Saudi Arabia pet insurance market based on accident & illness, accident only covering the revenue growth of each sub-segment from 2018 to 2030.
Saudi Arabia is anticipated to exhibit steady growth over the forecast period. The presence of insurance companies in the country promotes the growth of the pet insurance market. A group of actuaries founded Melon, a pet insurance company with its headquarters in Riyadh, Saudi Arabia, in 2023, to offer insurance for animals in the region.
With end-to-end digital services, pet owners can receive coverage that has been customized to meet their needs. Furthermore, growing awareness about pet care due to modernization is improved by the growing trend of pet humanization. The increasing pet population and the fact that owning a pet is considered luxury are expected to propel the growth of pet insurance market in the country.
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Target buyers of Saudi Arabia pet insurance market databook
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Our clientele includes a mix of pet insurance market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of country-level data and insights on the Saudi Arabia pet insurance market , including forecasts for subscribers. This country databook contains high-level insights into Saudi Arabia pet insurance market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Saudi Arabia pet insurance market size, by coverage type, 2018-2030 (US$M)
Saudi Arabia Pet Insurance Market Outlook Share, 2023 & 2030 (US$M)
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