Analysis: Retailers lead the way as pet stocks navigate 2025 market trends

The stock market is one of the year’s stars, with exchanges hitting records driven by big tech and the race for artificial intelligence (AI).

The pet sector, however, is not seeing the same performance, according to a GlobalPETS analysis of 10 listed pet companies (or those with pet products in their portfolios). It includes 4 food producers, 4 retailers and 2 healthcare players.

The results show that only 4 have seen their stocks appreciate in value so far in 2025, mainly retailers. On the other hand, food producers and healthcare companies have seen their stock prices decrease throughout the year. There is also a geographical factor: the American pet market has been shrinking, and consumers are still hesitant to spend.

The analysis was conducted using closing prices from January 2 (the first day of trading in the year) to 30 October.

Pet food 

Thai firm i-Tail Corporation experienced a 25.9% devaluation between January and October 2025: its stock opened the year at THB 23.20 ($0.72/€0.62) and closed on 30 October at THB 17.20 ($0.53/€0.46). 

The stock price fell steadily at the beginning of the year, reaching a low of 10.10 THB ($0.31/€0.27) in June. From July onwards, the stock began to recover, but not with the same intensity as the fall.

The American food producer General Mills also saw its shares fall at a very similar rate. From January to October, it lost 26% of its value, falling from $63.54 (€54.93) at the beginning of the year to $47.05 (€40.68) in October.

Freshpet’s stock has plummeted nearly 65% ​​year-to-date, falling from $144.32 (€124.77) in January to $50.60 (€43.74) in October. It even started the year with a slight increase in value between January and February, but in March, the drop was significant. And a new wave of declines intensified from August onwards.

In early October, Bank of America downgraded the company’s stock from Buy to Neutral after assessing the scenario of reduced consumer spending and decreased pet adoptions, which lowered its growth projections, according to the financial research firm Seeking Alpha.

Nestlé’s performance stands out among its competitors, as it is the only food producer to register an increase in value during the period. Shares rose from CHF 74.70 ($92.71/€80.14) in January to CHF 77.45 ($96.12/€83.10) in October, an increase of 3.7%.

Pet retailers

Canadian retailer Pet Valu started the year at C$25.38 ($18.11/€15.65) and closed on October 30 at C$34.69 ($24.75/€21.50), an increase of 36.7%. 

Pet Valu’s shares started the year on a flat trajectory, experiencing some ups and downs between February and April. But from that month onward, the stock appreciated continuously, reaching a peak of C$39.12 ($27.91/€24.13) in September. Seeking Alpha pointed out a boost from the “buy Canadian movement” in response to US tariffs. 

US online retailer Chewy’s closing values for the year so far haven’t changed much. The stock opened in January at $33.87 (€29.28) and closed on October 30 at $34.47 (€29.80), for a small 1.8% appreciation. 

Throughout the year, it experienced many ups and downs, reaching a peak of over $48 (€41.50) in June and a low of $31.21 (€26.98) in April. According to analysts from the financial services firm Morningstar, the company benefits from “resilient spending on pets and an expanding total addressable market.”

In the UK, Pets at Home has had a balanced year so far, with a 5.6% increase in value, rising from £203.6 million ($268.2M/€231.8M) in January to £215 million ($283.2M/€244.8M) in October. The retailer’s shares started 2025 on a rise, gained momentum between April and June, but began to fall from July onward. 

According to the retailer, among the analyses performed, Pets at Home’s stock has 7 buy ratings, 1 hold rating, and 1 sell rating. 

Finally, the main stock of the American retailer Central Garden & Pet opened the year at $38.14 (€32.97) and closed on October 30th at $31.21 (€26.98), marking an 18.2% year-to-date decrease. 

Vet and healthcare

Zoetis experienced a small decline compared to other pet stocks: -11.4%. It started the year with its stock priced at $162.61 (€140.60) and closed on 30 October at $144.10 (€124.58). The drop in the company’s stock price wasn’t particularly sharp. The share price fluctuated throughout the year, with more significant declines in February, April, July and September.

While Zoetis’ shares are showing signs of recovery in October, an analysis from Morningstar says that, despite its “undisputable” leadership in the animal health industry, the company “could face pressure if recessionary conditions cause a pullback in pet health spending.”

On the other hand, American pet insurance provider Trupanion had a slightly larger devaluation of 16% during the period, as the share price fell from $48.20 (€41.67) to $40.48 (€35). The price was particularly low in March and April. According to Seeking Alpha, it was due to its “costly growth with unsustainable price hikes.”

How are market indexes performing

Pets at Home is listed on the London Stock Exchange and is part of the FTSE 250 index. Year-to-date, Pets at Home’s stock has appreciated below the index average, which was around 7.4%.

Pet Valu trades on the Toronto Stock Exchange (TSX) and is part of the S&P/TSX Composite, the headline index for the Canadian equity market. Year-to-date, the retailer’s return is higher than the index (22.04%).

General Mills, Zoetis and Chewy are listed on the New York Stock Exchange. The first 2 are part of the S&P 500, which includes large-cap US equities. The index’s return for the year is 15.99%. And Chewy is part of the S&P MidCap 400, a smaller-company index, which increased roughly 4%.

Trupanion, Freshpet, and Central’s shares are traded on Nasdaq and are part of the Nasdaq Composite index, which is up 23.19% year to date.