KSA pet insurance market report size, share, growth drivers, trends, opportunities & forecast 2025–2030

Saudi Arabia Pet Insurance Market Overview

• The Saudi Arabia Pet Insurance Market is valued at USD 110 million, based on a five-year historical analysis. This estimate reflects the segment’s share within the broader Middle East and Africa market, which was valued at over USD 250 million, with Saudi Arabia accounting for a significant portion due to its high pet ownership and growing consumer expenditure on animal healthcare . Growth is primarily driven by increasing pet adoption, rising awareness of pet health, and the strong trend of pet humanization. The market has experienced a marked increase in demand for insurance products covering veterinary expenses, reflecting a shift in consumer attitudes towards comprehensive pet care .
• Key cities such as Riyadh, Jeddah, and Dammam dominate the market due to high population density, affluent demographics, and a concentration of veterinary clinics and pet service providers. These urban centers are witnessing a surge in pet ownership, with consumers increasingly willing to invest in insurance as part of a holistic pet care approach, supported by expanding access to veterinary and pet wellness services .
• The Insurance Authority of Saudi Arabia issued the “Pet Insurance Policy Rules, 2023,” mandating that all licensed pet insurance providers must offer coverage for a minimum set of veterinary services, including emergency care, vaccinations, and annual health checks. These rules require insurers to standardize policy terms, ensure transparency in coverage, and maintain compliance with veterinary health standards, thereby promoting responsible pet ownership and enhancing animal welfare .

Saudi Arabia Pet Insurance Market Segmentation

By Type:The market is segmented into Accident Only Insurance, Illness Only Insurance, Accident & Illness Insurance, Preventive Care/Wellness Plans, and Others. Among these, Accident & Illness Insurance is the most popular, as it provides comprehensive coverage for both unexpected accidents and a wide range of health issues. This reflects the growing demand for holistic pet care solutions and the willingness of pet owners to invest in broader protection for their animals .

By Pet Type:Segmentation by pet type includes Dogs, Cats, Birds, and Others (such as exotic pets and small mammals). Dogs represent the dominant segment, driven by their high ownership rates and the greater frequency of veterinary care required compared to other animals. The willingness of dog owners to invest in comprehensive insurance coverage is a key factor supporting this segment’s market leadership .

Saudi Arabia Pet Insurance Market Competitive Landscape

The Saudi Arabia Pet Insurance Market is characterized by a dynamic mix of regional and international players. Leading participants such as Tawuniya (The Company for Cooperative Insurance), Bupa Arabia for Cooperative Insurance, Gulf Insurance Group (GIG Saudi), Allianz Saudi Fransi Cooperative Insurance Company, Al Rajhi Takaful, MEDGULF (The Mediterranean and Gulf Cooperative Insurance and Reinsurance Company), Alinma Tokio Marine, United Cooperative Assurance Company (UCA), Al-Ahlia Insurance Company for Cooperative Insurance, Al-Etihad Cooperative Insurance Co., Aljazira Takaful Taawuni Company, Al Sagr Cooperative Insurance Co., Malath Cooperative Insurance Co., Walaa Cooperative Insurance Co., and Arabian Shield Cooperative Insurance Co. contribute to innovation, geographic expansion, and service delivery in this space.

Saudi Arabia Pet Insurance Market Industry Analysis

Growth Drivers

• Increasing Pet Ownership:The pet ownership rate in Saudi Arabia has surged, with approximately 65% of households owning at least one pet, translating to around 7 million pets. This increase is driven by changing lifestyles and urbanization, leading to a greater demand for pet-related services, including insurance. The growing emotional bond between pets and owners further fuels the need for financial protection against veterinary expenses, thereby enhancing the pet insurance market's potential.
• Rising Awareness of Pet Health:In future, the expenditure on pet healthcare in Saudi Arabia is projected to reach SAR 3 billion, reflecting a growing awareness among pet owners regarding the importance of preventive care and regular veterinary visits. This trend is supported by educational campaigns from veterinary associations and pet care companies, which emphasize the benefits of pet insurance in managing healthcare costs, thus driving market growth as more owners seek coverage for their pets.
• Growth in Veterinary Services:The veterinary services sector in Saudi Arabia is expected to grow to SAR 2.5 billion, driven by an increase in the number of veterinary clinics and specialized services. This expansion is crucial as it enhances the accessibility of veterinary care, leading to higher demand for pet insurance. As more pet owners seek advanced medical treatments, the need for insurance products that cover these services becomes increasingly vital, propelling market growth.

Market Challenges

• Limited Awareness of Pet Insurance:Despite the growth in pet ownership, awareness of pet insurance remains low, with only 20% of pet owners in Saudi Arabia familiar with available insurance products. This lack of knowledge hinders market penetration, as many owners are unaware of the financial benefits and coverage options that insurance can provide. Educational initiatives are essential to bridge this gap and encourage more pet owners to consider insurance for their pets.
• Regulatory Hurdles:The pet insurance market in Saudi Arabia faces significant regulatory challenges, including the need for compliance with the Saudi Arabian Monetary Authority (SAMA) regulations. Insurers must navigate complex licensing requirements and consumer protection laws, which can delay market entry and increase operational costs. These hurdles can deter new entrants and limit the diversity of insurance products available to consumers, impacting overall market growth.

Saudi Arabia Pet Insurance Market Future Outlook

The future of the pet insurance market in Saudi Arabia appears promising, driven by increasing pet ownership and a growing emphasis on pet health. As awareness of the benefits of pet insurance rises, more pet owners are likely to seek coverage. Additionally, advancements in technology and digital platforms will facilitate easier access to insurance products, enhancing customer experience. The market is expected to evolve with innovative offerings tailored to meet the diverse needs of pet owners, fostering a more robust insurance landscape.

Market Opportunities

• Digital Insurance Platforms:The rise of digital platforms presents a significant opportunity for the pet insurance market. In future, it is estimated that 50% of pet insurance policies will be purchased online, driven by the convenience and accessibility of digital solutions. Insurers can leverage technology to streamline the purchasing process, enhance customer engagement, and offer tailored products that meet the specific needs of pet owners.
• Customized Insurance Plans:There is a growing demand for customized insurance plans that cater to the unique needs of pet owners. In future, approximately 40% of pet owners express interest in personalized coverage options. Insurers can capitalize on this trend by developing flexible policies that allow owners to select coverage levels and add-ons, thereby increasing customer satisfaction and retention in a competitive market.