China Pet Food Sector "June 2026: online sales show resilience; CPF..."

Research evidence excerpt

China Pet Food Sector "June 2026: online sales show resilience; CPF..."

Global Research

20 July 2026ab

China Pet Food Sector Equities

ChinaJune 2026: online sales show resilience; CPF

remains a standout Food & Beverage

Nina Jiang

Analyst

nina.jiang@ubs.com

Pet food outperformed total online sales; Tmall led performance +852-2971 5681

According to data from Moojing, online GMV for pet related products (food and Christine Peng, CFA

supplies) across Tmall, Douyin and JD increased 16.8% YoY in June. Growth was driven Analyst

by a 20% YoY increase in sales volume, partially offset by a 4.9% YoY decline in ASP. christine-y.peng@ubs.com

Among platforms, Douyin was the best performer, delivering 51.0% YoY GMV growth. +852-2971 7571

JD recorded a modest growth of 6.2% YoY, while Tmall declined by 6.6% YoY. Steven Dang

Associate Analyst

Key brands online sales trend tracking steven.dang@ubs.com

The top-10 brands represent 38.6% of online market share in June 2026. Royal Canin +852-3-712 2195

remained the market leader with a 8.6% share, followed by Myfoodie (6.0%), Legend

Sandy (4.1%), and Rosy Fresh (4.1%). In June, online sales for Royal Canin / Legend

Sandy / Rosy Fresh increased 41.5% / 47.6% / 26.3% YoY, respectively.

Gambol registered -4.7% YoY online sales change in June. Across its portfolio, revenue

from Myfoodie extended decline of 4.1% YoY, and sales of Fregate also decreased by -

6.4% YoY, per data from Moojing. Market share of Myfoodie changed by -0.1/-0.7/-

1.0ppt across Tmall/JD/Douyin, and -0.1/+0.5/-0.7ppt for Fregate in June.

China Pet Foods (CPF) maintained solid growth, delivering 31.5% YoY online sales

growth in June. By brand, revenues from Wanpy/Zeal/Toptrees grew

39.6%/18.2%/27.2% YoY, respectively. Changes in market share: Wanpy +0.2/+0.2/