The value of the new-style tea beverage market in China is likely to exceed RMB 200 billion (about US$27.88 billion) in 2025, and is expected to reach RMB 149.8 billion this year. This is according to a report jointly published by the China Franchise Association and the Meituan e-commerce platform, Radio China reported.
Aimed at young consumers, new-style tea drinks such as iced tea, milk tea, fruit tea, etc. they often use fresh ingredients and are made with innovative recipes that reflect modern taste trends. The report highlights the rapid growth of this market, noting that there are about 515,000 new-style tea shops in China by the end of August 2023, a jump of over 36 percent from the end of 2020.
In June 2023, new-style tea shops accounted for about 57.7 percent of all beverage shops in China, data from online platforms Meituan and Dienping showed.