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With the prevalence of freshly made milk tea shops, does bottled ready-to-drink milk tea still have a future?
The rise of internet coffee has popularized coffee from niche groups to the masses, also spurring the growth of ready-to-drink coffee brands like Tanbing and Shengruisi. However, the similarly booming milk tea market has not seen the same level of activity in ready-to-drink product development. Despite chains like 1点点 opening over 4,000 stores and Heytea being valued at 9 billion yuan, the market for ready-to-drink milk tea remains relatively subdued. This article explores the reasons behind this and where the opportunities for ready-to-drink milk tea lie.
晓鱼Nongfu Spring, Mengniu, and Yili All Entered the Coffee Market—Is the Spring for Ready-to-Drink Coffee Coming?
In October 2019, Nongfu Spring launched three new ready-to-drink coffee products under its Carbon Bing line: black coffee, low-sugar latte, and sugar-free latte. In September 2019, Mengniu's fresh milk brand 'Daily Fresh' introduced a cold-brew coffee latte, and in July 2019, Yili announced its new Saint Ruis instant coffee. These moves signal that major food giants are eyeing the ready-to-drink coffee market, which is growing at 16% annually and expected to reach 14.9 billion yuan by 2021.
晓鱼Instant Noodle Market Returns to the '40 Billion Club' – Can It Rest Easy?
Recently, Jinmailang's chairman Fan Xianguo announced that the company will gradually exit the fried instant noodle market within five years. After hitting a peak of 46.22 billion packs in 2013, sales fell to 38.5 billion in 2016, then rebounded to 40 billion in 2018, re-entering the '40 billion club.' This article analyzes the reasons for the decline, the key drivers of recovery, and future innovation opportunities.
晓鱼