The pet care market in China is rapidly gaining ground on the United States, the current largest market in the world. According to a white paper by iResearch, the industry in China is on track to surpass $60 billion in 2023, despite temporary setbacks caused by the COVID-19 pandemic.

Rui Pai Pet Hospital has officially signed an investment agreement with Mengniu Venture Capital to complete its D round financing, marking the first public financing in the pet healthcare industry in 2023.

Despite the increase in pet ownership during the pandemic, Japan's pet industry is expecting a decline in the number of pet owners and an increase in pet food prices.

The Sydney-based Woolworths Group has entered into an agreement to acquire a 55 per cent equity interest in Petspiration Group, a leading Australian and New Zealand speciality pet retailer.

The Asian Pet Research Institute, in conjunction with Tmall Pet, Ali Mama, and Euro Rui International, has released the "Pet Industry Blue Book: 2022 China Pet Industry Development Report".

In 2022, the global retail market for pet products is expected to reach 171.4 billion US dollars, with the retail sales of food, health products, and supplies growing at a slow rate during the pandemic.

As the pet industry in China continues to grow, pet owners are turning to digital platforms to make their purchases. According to research reports, 55% of pet-related sales in China are made online.

Thai Union plans to expand its pet food arm i-Tail in China and Europe, to import, sell, and distribute pet food and products. The move is part of the company's strategy to capitalize on the growing demand for premium wet pet food in these regions.

Mankind Pharma Limited, a leading healthcare provider, has diversified its offering in the pet care industry with the launch of Mankind's PetStar Dog Food.

QRILL Pet, a functional marine ingredient for pets from Aker BioMarine, has entered into a global strategic cooperation with Fullpet Co. to continue its efforts in the domestic pet market.

JD Pet Health, a pet care business under JD.com, and Zesty Paws, a US leading multi-condition pet supplement brand under H&H Group, have reached a cooperation agreement on cross-border sales in China.

The pet industry has seen significant growth in China as a result of the pandemic, with single millennials and those who are lonely and confined to their homes purchasing pets and spending large amounts on food, toys, grooming, etc.