Indonesia Dominates Southeast Asia's Tea Beverage Market 2023

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Cindy Mutia Annur 14/03/2024 19:40 WIB

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According to a Momentum Works report, Indonesia dominated the Southeast Asian tea beverage market in 2023.

Estimated Market Value of Tea Beverages in Southeast Asian Countries (2023)

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Estimated Market Value of Tea Beverages in Southeast Asian Countries (2023)

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According to Momentum Works' report, *Who Is Mixue? World’s 4^th Largest F&B Chain, Decoded*, Indonesia dominated the tea beverage market in Southeast Asia in 2023.

The market value of tea beverages in Indonesia is estimated to have reached US$2.28 billion last year. This figure represents 46.92% of the total tea beverage market value in Southeast Asia, which reached US$4.86 billion in 2023.

Several large tea beverage companies in Indonesia include Chatime, Xiboba, Es.teh, and Mixue.

Thailand ranked second in the Southeast Asian tea beverage market in 2023, with an estimated market value of US$952 million.

Well-known tea beverage companies in Thailand include ChaTraMue, Ochaya, Kamu Tea, and Mixue.

Vietnam came in third with a projected tea beverage market value of US$483 million. ToCoToCo, Bobapop, Phuc Long, and Mixue are prominent players there.

Malaysia and Singapore followed, with tea beverage market values of US$418 million and US$375 million respectively.

Singapore had the lowest tea beverage market value in the region at US$353 million.

The Momentum Works report states that Southeast Asia has become a key region for Mixue's global expansion, with nearly 4,199 outlets in the region.

Mixue is one of the leading global tea beverage companies today. According to Momentum Works, the Chinese company ranks fourth in the world for the most franchise outlets among food and beverage (F&B) companies.

The number of Mixue outlets is estimated to have reached 36,033 globally as of September 30, 2023. This places Mixue below McDonald's, Starbucks, and Subway. KFC is ranked fifth, below Mixue.

Editor : Erlina Fury Santika

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."

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Indonesia Dominates Southeast Asia's Tea Beverage Market 2023

Indonesia Dominates Southeast Asia's Tea Beverage Market 2023

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Indonesia Dominates Southeast Asia's Tea Beverage Market 2023

Indonesia Dominates Southeast Asia's Tea Beverage Market 2023

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