China’s new-style tea drink market likely to exceed 200b yuan in 2025

BEIJING -The market value of China’s new-style tea drinks is likely to surpass 200 billion yuan (about 27.88 billion US dol­lars) in 2025, an industry report shows. The value of the market is expected to reach 149.8 billion yuan in 2023, according to the report jointly released by the China Chain Store and Franchise Association and e-commerce platform Meituan. Targeting young consumers, new-style tea drinks such as cold brew tea, tea latte, fruit tea and cheese tea, often use fresh in­gredients and are made with innovative recipes and with the support of technology. The report stressed the rapid expansion of this market, not­ing that there were around 515,000 new-style tea shops in China by the end of August 2023, a surge of more than 36 percent from the end of 2020. In June 2023, new-style tea shops accounted for about 57.7 percent of all China’s bev­erage stores, according to data from online platforms includ­ing Meituan and Dianping.

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