The Taiwanese hand-shaken beverage market is worth an astonishing NT$50 billion and has a higher outlet density than convenience stores. There’s only one problem — the market is saturated. For this reason, Taiwanese tea businesses swiftly expanded all over China decades ago in pursuit of growth opportunities. However, a cadre of Chinese beverage vendors like Heytea, Naixue Tea, and Lelecha has emerged to give these Taiwanese offshoots a run for their money. Backed by huge investors, Chinese vendors have opened locations in the most competitive districts and conducted a win-at-all-costs Red Ocean strategy.
