i-Tail: Treats and US performance drive FY2025 earnings

Bangkok-headquartered pet food manufacturer i-Tail Corporation hit sales of THB 18.2 billion ($580M/€490M) in its fiscal year (FY) 2025 ending 31 December 2025, rising 2.8% year-over-year (YoY). In dollar terms, sales grew 9.2% YoY to reach $554 million (€510M). 

Despite higher revenue, profitability fell 12.3% during the period, as adjusted net profit stood at THB 3.4 billion ($103M/€95M).

Performance by segment

Cat food drove sales, contributing 66%. It was followed by dog food at 18% and treats at 16%. According to the company, the treats category grew 36.5% YoY, becoming a significant contributor to improved gross margins.

This performance also helped increase the share of premium products in the sales mix, which remained at the upper end of the target range of 47% to 50%. 

i-Tail’s new product launches last year generated approximately THB 1.8 billion ($55M/€50M) in sales. In 2026, the company targets 15% of revenue from new products, innovative pet food and health-focused offerings.

Americas sales hike

Growth in 2025 was mainly driven by strong performance in the Americas, which accounted for 58% of total sales. The region registered YoY growth of 17.8%, backed by demand from key customers, expanded product offerings and continued momentum across premium and private label segments.

“Our expansion within the chunk and pâté segment marks an important step in deepening our presence in the US market. We also continue to benefit from premiumization trends, especially in pet treats, which saw strong momentum as demand for functional and wellness-oriented products accelerates globally,” Roy Chan, CEO of i-Tail, says.

Asia and Europe 

The Asia and Oceania region posted net sales of THB 5 billion ($152M/€140M), down 16.7% YoY. The region accounted for 28% of total sales, led by Japan, China and Australia. 

Meanwhile, Europe generated THB 2.6 billion ($79M/€73M) in net sales, a 3.3% YoY decline, representing 14% of total sales.

i-Tail also welcomed 42 new customers (including pet food producers and retailers), 12 in the Americas and 12 in Europe. In the Asia and Oceania region, a total of 18 clients were onboarded.

Outlook

For FY2026, the company expects sales in THB to increase by 8% to 11%, while sales in dollars are forecast to grow by 9% to 12%. This prediction is in line with continued demand in global pet food markets, the company says.

Meanwhile, gross profit margin is expected to range between 23% and 25%, supported by cost management and cost-saving initiatives.

“With a robust innovation pipeline and strategic investments across our key markets, we are well-positioned to capture new growth opportunities,” the CEO says.