3 days ago
Why Chinese bubble tea chains are brewing billions
Bubble tea has gone from a viral drink to a global business worth billions.
In 2025, Chinese bubble tea brands Mixue Ice Cream & Tea, Guming Holdings (Good Me) and Auntea Jenny made headlines with Hong Kong IPOs worth hundreds of millions.
Mixue now holds the largest market share by store count, with over 46,000 outlets globally – surpassing American-grown F&B chains McDonald's, Starbucks and Subway.
As competition heats up and brands race to expand globally, the question is no longer how fast they can grow – but who's built to last.
Watch the full explainer by clicking the link above.
Chinese bubble tea chains scaled up quickly by using low-cost franchising. But as IPO buzz fades, long-term value hinges on supply chain control, pricing power and brand resilience.
