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Wahaha Set To Enter Bubble Tea Market In China

January 15, 2020: 12:00 AM EST
China’s largest beverage maker, Hangzhou Wahaha, announced it is entering the already crowded milk bubble tea market in the near future. Wahaha's sales have slid since reaching a peak in 2013, and the company is desperately in need of new products. The Chinese bubble tea market has tremendous potential: the expected market size could be as much as $72.6 billion. There are thousands of players in the market, each offering different ingredients, prices, marketing, and product design. Meanwhile, Chinese consumers are said to be shifting from low-quality tea to new tea products with better ingredients or design. [Image Credit: © Hangzhou Wahaha Group Co.,Ltd.]
Lin Zhang, "Chinese beverage giant Wahaha enters bubble tea market", Cgtn.com, January 15, 2020, © Beijing ICP prepared NO.16065310-3
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