中国泡泡茶产业市场前景及投资研究报告-培训课件外文版2024.5蜜雪冰城霸王茶姬

INDUSTRIES

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MARKETSBubbleteaindustryinChinaCHAPTER

01BeveragemarketinChinaRetailsalesvalueofthenon-alcoholicbeveragemarketinChinafrom2017to2022withestimatesuntil2027(inbillionyuan)AnnualretailsalesvalueofChina'snon-alcoholicbeveragemarket2017-20272,5002,379.82,206.42,043.62,0001,887.81,739.51,582.41,518.51,5001,00050001,372.71,344.71,2481,167.52017201820192020202120222023*2024*2025*2026*2027*3Description:In2022,China'snon-alcoholicbeverageretailsalesreached1.58trillionyuan,showingsteadygrowthoverthepastyear.Softdrinksaccountedforthelargestshareofnon-alcoholicbeveragesalesinthatyear.

ReadmoreNote(s):China;2017to2022;*Estimate.Oneyuanequalsapproximately0.14U.S.dollarsand0.13euros(asofSeptember2023).

ReadmoreSource(s):Frost&Sullivan;HKExnewsRetailsalesvalueofthenon-alcoholicbeveragemarketinChinafrom2017to2022withestimatesuntil2027,bytype(inbillionyuan)AnnualretailsalesvalueofChina'snon-alcoholicbeveragemarket2017-2027,bytypeSoftbeverageBeverageshopsOtherbeverage2,5002,0001,5001,000500296.5697.2277258.7524.5239.4447222.3374.5607.7195.2206.4279.2201.3180.1173.4195.4305.4181.7136166115.21,386.12027*1,321.72026*1,260.42025*1,201.42024*1,142.72023*1,081.820221,032.92021991.32019975.92020930.32018886.3201704/statistics/1416006/china-non-alcoholic-beverage-retail-sales-value-by-typeIn2022,China'snon-alcoholicbeverageretailsalesreached1.58trillionyuan.Softdrinksaccountedforthelargestshare,totalingaround1.08trillionyuan.Thenon-alcoholicbeveragemarketinChinaisprojectedtogrowsteadilyinthenextfewyears.ReadmoreNote(s):China;2017to2022;*Estimate.Oneyuanequalsapproximately0.14U.S.dollarsand0.13euros(asofSeptember2023).

ReadmoreSource(s):Frost&Sullivan;HKExnewsRetailsalesvalueofthebeverageshopindustryinChinafrom2017to2022withestimatesuntil2027,bytype(inbillionyuan)RetailsalesvalueofbeverageshopindustryinChina2017-2027,bytypeNew-styleteashopsFreshly-madecoffeeshopsOthers800700600500400300200100022.321.9190.421.5144167.12120.2121.7101.719.882.723484.565.7418.719.735918.451.4304.35015.9252.615.439.680.5202.92022190.533124.3111.766.8201720182019202020212023*2024*2025*2026*2027*5Description:In2022,theretailsalesofbeverageshopsinChinareachedaround305billionyuan.New-styleteashopsaccountedforthelargestshare,totalingaround202billionyuan.ThebeverageshopmarketinChinaisprojectedtogrowsteadilyinthenextfewyears.ReadmoreNote(s):China;2017to2022;*Estimate.Oneyuanequalsapproximately0.14U.S.dollarsand0.13euros(asofSeptember2023).

ReadmoreSource(s):Frost&Sullivan;HKExnewsTeamarketsizeofChinafrom2016to2021withestimatesuntil2026,byproductform(inbillionyuan)TeamarketsizeofChina2016-2026,byproductformTealeavesFreshly-madeteadrinksReady-to-drinktea80070060090.189.18886.7234.985.4500215.583.8195.981.4174.978.7400300200100077.795.8153.4133.476.178.9115.4113.673.563.5408383.8361.7341.3322.3304.92021288.92020266.12018265.72019240.62017214.820162022*2023*2024*2025*2026*6Description:In2021,China'steamarketreached522.1billionyuan,withtealeavescontributing58.3percentofthemarket.Incontrast,freshlymadeteadrinksandready-to-drinkteaproductsaccountedfor25.5percentand16.2percentofteasales,respectively.TealeaveswereexpectedtoremainthedominantproductinChina'steamarketin2026,contributing408billionyuantothetotalmarketsize,representing55.7percentofthemarket.ReadmoreNote(s):China;2016to2021;*Forecast.Oneyuanequalstoapproximately0.14U.S.dollarsand0.13euros(asofMay2023).

ReadmoreSource(s):Frost&Sullivan;HKExnewsCHAPTER

02China'snew-styleteamarketRetailsalesvalueofthenew-styleteashopindustryinChinafrom2017to2022withestimatesuntil2027,bycitytier(inbillionyuan)Retailsalesvalueofnew-styleteashopindustryinChina2017-2027,bycitytierFirst-tiercitiesNewfirst-tiercitiesSecond-tiercitiesThird-tiercitiesFourth-tierandbelowcities60050040030020010002017201820192020202120222023*2024*2025*2026*2027*8Description:In2022,themarketsizeofnew-styleteashopsinChina'sfirst-tiercitiesreachedaround23.7billionyuan.Incomparison,themarketsizeinChina'sfourth-tierandbelowcitiessurpassed64billionyuan.Incomparisontohigher-tiercities,lower-tiercities'teashopmarketisprojectedtogrowfaster.ReadmoreNote(s):China;2017to2022;*Estimate.Oneyuanequalsapproximately0.14U.S.dollarsand0.13euros(asofSeptember2023).

ReadmoreSource(s):Frost&Sullivan;HKExnewsRetailsalesvalueofthenew-styleteashopindustryinChinafrom2017to2022withestimatesuntil2027,byservicetype(inbillionyuan)Retailsalesvalueofnew-styleteashopindustryinChina2017-2027,bytypeDine-inDelivery6005004003002001000347.6286.2233.4184.4142.1109.39453.570.843.368.429.750.8125.6132.5136.9119.924.142.7110.596.593.62017201820192020202120222023*2024*2025*2026*2027*9Description:In2022,themarketsizeofnew-styleteashopsinChinareachedaround203billionyuan,ofwhichabout109.3billionyuanwasgeneratedbydeliveryservices.Thedine-inmarketfornew-styleteabeveragesisestimatedtogrowatamoderatespeedandreacharound137billionyuanby2027.ReadmoreNote(s):China;2017to2022;*Estimate.Oneyuanequalsapproximately0.14U.S.dollarsand0.13euros(asofSeptember2023).

ReadmoreSource(s):Frost&Sullivan;HKExnewsNumberoffreshly-madebeverageoutletsinChinafrom2017to2022withestimatesuntil2027NumberofbubbleteaoutletsinChina2017-2027500,000450,000469,372457,723446,044434,372422,381405,560406,205381,569383,815400,000350,000300,000250,000200,000150,000100,00050,0000345,114308,8592017201820192020202120222023*2024*2025*2026*2027*10Description:In2022,Chinahadapproximately406.2thousandbubbleteaoutlets,increasingslightlyfromtheyearprior.Thatyear,morethanhalfofthebubbleteaoutletsinChinawerechainfranchises.ReadmoreNote(s):China;2017to2022;*Forecast.ReadmoreSource(s):199IT;Euromonitor;NestléAverageannualsalaryofemployeesinnew-styleteashopindustryinChinafrom2017to2022(in1,000yuan)Averageannualsalaryofstaffsinnew-styleteashopindustryinChina2017-20225047.546.84540353025201510542.442.339.636.9020172018201920202021202211Description:In2022,theaverageannualsalaryofanemployeeworkinginChina'snew-styleteashopindustrytotaledabout47,500yuan,showingasteadyincreaseoverthepastfiveyears.Asofthatyear,China'sfourth-tierandbelowcitieshadthelargestshareofChina'snew-styleteashopmarket.ReadmoreNote(s):China;2017to2022Source(s):Frost&Sullivan;HKExnews;NationalBureauofStatisticsofChinaCHAPTER

03LeadingmarketplayersLeadingnew-styleteabeveragebrandsinChinaasofFebruary2023,bynumberofoutletsLeadingnew-styleteabrandsinChina2023,bynumberofoutlets25,00023,48720,00015,00010,0005,00006,7056,6086,3294,612CoCo3,459445MixueIcecream&TeaGoodMeMilkTeaShuyiTealiciousChaPandaAlittle-teaChayanYuese13Description:AsofFebruary2023,MixueIceCream&Teaownedapproximately23.5thousandbeverageoutletsinChina,makingitthelargestnew-styletearetailerbystorenumber.GoodMeMilkTearankedsecondwithabout6,700shops.

ReadmoreNote(s):China;asofFebruary2023Source(s):E;EssenceSecurities;MeituanDianping;;Varioussources(;)RevenueofbeveragecompanyMixueIceCream&Teafrom2019to1stquarterof2022(inbillionyuan)RevenueofMixueIceCream&Tea2019-Q1202212010080103.516046.84025.6624.34200201920202021Q1202214/statistics/1416215/revenue-of-mixue-ice-cream-and-teaChina'sbudgetnew-styleteachainMixueIceCream&Tearecordedanannualrevenueofaround103.5billionyuanin2021,doublingitsfigureintheyearprior.Inthefirstquarterof2022,thecompanygeneratednearlyaquarterbillionyuaninrevenue.ReadmoreNote(s):China;2019toQ12022Source(s):199IT;Varioussources(MixueIceCream&Tea)RevenueofChinesebeveragecompanyNayukiHoldingsLtd.from2018to2022(inbillionyuan)TurnoverofNayukiHoldings2018-20225.04.54.03.53.02.52.01.54.34.293.062.51.091.00.50.02018201920202021202215Description:In2022,NayukiHoldings,alistedChinesenew-styleteadrinkcompany,generatedrevenuesofapproximately4.3billionyuan.AsofMay2023,Nayukiownedabout1,150drinkoutletsinChina.ReadmoreNote(s):China;2018to2022Source(s):E;EssenceSecurities;NayukiHoldingsRevenueofbeveragecompanySichuanBaichaBaidaoIndustrialCo.,Ltd.(Chabaidao/ChaPanda)from2020to2022(inbillionyuan)RevenueofBaichaBaidao(Chabaidao)inChina2020-20224.54.04.233.643.53.02.52.01.51.00.50.01.0820202021202216Description:In2022,China'snew-styleteacompanyBaiChaBaiDao(alsoknownasChabaidao/ChaPanda)recordedarevenueofaround4.23billionyuan,showingarapidincreaseinthepastyear.Asof2023,Chabaidaohadmorethan7,000beverageretailoutletsacrossChina.ReadmoreNote(s):China;2020to2022Source(s):Frost&Sullivan;HKExnews;;Varioussources(Chabaidao)CHAPTER

04ConsumerbehaviorsandpreferencesChangeinwillingnesstobuynew-styleteabeveragesinthefutureamongconsumersinChinaasofApril2023Changeinwillingnesstobuynew-styleteainthefutureinChina2023Decrease14.7%Increase26.2%Remainthesame59.1%18Description:Accordingtoa2023surveyamongconsumersinChina,morethanaquarterofrespondentssaidtheyplannedtoincreasetheirconsumptionofnew-styleteabeveragesinthefuture.Incontrast,about15percentofrespondentsdecidedtoreducetheirteabeverageconsumption.ReadmoreNote(s):China;April2023;2,355respondentsSource(s):iiMediaResearchLeadingnew-styleteabeveragebrandsamongconsumersinChinaasofMarch2023MostpopularmilkteabrandsinChina2023Shareofrespondents0%5%10%15%20%25%30%35%40%45%50%HEYTEANayuki44.14%41.45%MixueIceCream&TeaGuming35.45%26.64%AunteaJennyALittleTea(yidiandian)ChaBaiDao19.14%16.77%16.09%Yihetang13.55%13.05%12.95%12.64%LELETEACoCoFreshTea&JuiceChaYanYueSeShuyi8.73%Others1.55%19/statistics/1375092/china-leading-bubble-tea-brandsAccordingtoasurveyin2023,HeyTeawasthemostpopularbubbleteabrandamongChineseconsumers,withmorethan44percentofrespondentsbuyingfromthem.Overathirdofrespondents,respectively,alsopurchasedfromNayukiandMixue.ReadmoreNote(s):China;asofMarch2023;2,200respondentsSource(s):NationalBusinessDailyMostpopularnew-styleteabeveragetypesamongconsumersinChinaasofApril2023Mostpopularnew-styleteatypesinChina2023Shareofrespondents30%0%10%20%40%50%60%70%MilkteaFruittea63.3%62%CheesefoamteaCoffeeandcacaoSlushy44.8%42%40.9%20Description:Accordingtoa2023surveyamongconsumersinChina,milktearemainedthemostpopularnew-styleteabeverage.Meanwhile,around62percentofrespondentssaidtheylikefruittea.

ReadmoreNote(s):China;April2023;2,355respondentsSource(s):iiMediaResearchFrequencyofbuyingnew-styleteabeveragesinChinaasofMarch2023FrequencyofpurchasingmilkteainChina2023Daily2.95%Neverorrarely11.0%Morethanfivetimesamonth20.55%1-3timesamonth24.09%3-5timesamonth40.91%21Description:AccordingtoasurveyamongChineseconsumersin2023,morethan40percentofrespondentssaidtheyboughtnew-styleteabeverages,suchasbubbletea,threetofivetimesamonth.Nearlyaquarterofrespondentsclaimedtopurchaseteadrinksmorethanfivetimesamonth.ReadmoreNote(s):China;asofMarch2023;2,200respondentsSource(s):NationalBusinessDailyLeadingdecision-makingcriteriainchoosingnew-styleteabeveragebrandsamongconsumersinChinaasofMarch2023Most-concernedfactorsinselectingmilkteabrandsinChina2023Shareofrespondents0%5%10%15%20%25%30%35%40%40.32%40.18%45%PriceisreasonableHealthyingredientsFastrolloutofnewproductsManyoutlets31.32%29.36%29.09%SpecialtastyrecipesDelicatepackages18.23