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The pet industry in China is experiencing significant growth, with many publicly traded pet product companies showing strong performance in the first half of the year. This uptrend is mainly fueled by increased sales of staple pet foods, as consumers are investing more in their pets.
For example, Guaibao Pet Food reported a 22.6% rise in profit and a 32.7% increase in revenue compared to the same period last year. Meanwhile, Tianyuan Pet Products saw a 20% jump in net profit and a 14.6% rise in revenue during the first six months.
Household expenses dedicated to pet care are becoming more normalized, according to Tianyuan’s report. People are more willing to spend on their pets and are less sensitive to the cost of pet products.
Sales of basic pet foods are growing rapidly, with companies like Guaibao in Liaocheng seeing staple food revenues jump 57.1% in the first half. Lusi’s staple food sales increased by 40%, and China Pet Products experienced an impressive 85.8% growth.
Projections suggest that spending on pets in urban areas across China could reach CNY 300.2 billion (about USD 42 billion) in 2024, up 7.5% from the previous year. Food accounts for over half of this market, representing 52.8%.
The booming pet food sector has attracted international players such as H&H Group, a global health and nutrition company. The company’s revenue grew by 5.2% in the first half, with pet nutrition and care contributing significantly—an 8.5% increase—and sales in China rising 17.5%. Pet-related products now make up 15.4% of H&H’s total revenue and are expected to become the company’s leading segment by 2027.
China’s pet food industry is entering a fresh growth phase as companies invest in advanced research, development, and modern manufacturing facilities. This shift is driven by consumer demand for more functional and specialized pet nutrition products, according to Zhu Danpeng, vice president of the Guangdong Food Safety Promotion Association.
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