Shanghai-based pet food producer, Fubei has filed for IPO in Hong Kong, as it remains optimistic of the growth for pet care and nutrition in China. Fubei has built a diversified product portfolio centred on cat and dog food.
According to a report by KPMG China, “Young consumers, especially Gen Z, accounted for a growing share of pet owners and they prefer cost-effective and functional goods, driving the pet market’s shift from volume-driven to quality-led growth.”
Fubei currently ranks 2nd in China’s 3rd party pet food production – the packaging and manufacturing of other brands’ formulations – with a market share of 5.3%. It also ranks 2nd in third-party staple pet food OEM production with 8.5% share. Its proprietary brand Bi Le ranked 10th among domestic pet food brands by annual retail sales last year, according to consultancy Frost & Sullivan.
China’s pet food industry reached Rmb 108 billion (US$15.95 billion) in retail sales in 2025, and is projected to grow at a CAGR of 10.4% in the next 5 years, driven by higher pet ownership, premiumisation, and greater focus on pet health & wellness.
