Major listed companies in the industry: At present, the listed companies in the domestic ready-made tea industry mainly include Naixue Tea (12151.HK).

the core data of this paper: the market scale, competition pattern and industry share of new-style tea in China

1. Definition

New-style tea refers to a beverage prepared by taking the concentrated solution extracted from China traditional high-quality tea with different extraction methods as the tea base and adding fresh milk, imported cream, natural animal cream or various fresh fruits. At present, the new tea on the market is mainly milk tea and fruit tea.

2. Analysis of industrial chain

The upstream link of new tea is the supply of raw materials, which mainly includes agricultural and sideline products necessary for making tea. Agricultural and sideline products include fruits, tea, dairy products, animal cream, coconut and cassava flour. The middle reaches of the new tea industry chain are tea design, production and packaging. The downstream of the industrial chain is the circulation link of new tea, which is divided into offline stores and online delivery channels.

industry development process: stepping into the era of chain tea consumption upgrade 2.1

before 2115, the new tea industry developed rapidly, and many national chain brands were born, including Happy Lemon, COCO, Diandian, etc. On the whole, before 2115, it belonged to the chain development period of new tea.

from p>2115 to 2119, new tea developed rapidly, emphasizing the change from "existing" to "fresh". The typical feature is that fresh fruits, dairy products, grass jelly and other ingredients are added to the drinks, and the value of the drinks is emphasized, which makes them look good and delicious. At this stage, brands such as Xicha, Naixue Tea and Lele Tea were born, belonging to the 1.1 period of chain tea consumption upgrade.

since p>2121, the tea market segment has been further developed on a large scale, and the head tea brands have begun to be distributed in second-and third-tier cities, from product innovation to product, channel and brand * * * vibration, including 7-point sweet, Modern China Tea Shop, SEVENBUS, etc. Since then, the new tea industry has entered the period of chain tea consumption upgrading 2.1.

background of industry development

1. New-style ready-made tea drinks pay attention to product quality and also have social value

Different from traditional ready-made tea drinks, new-style tea drinks pay attention to the diversification of product raw material selection and collocation, improve product quality and service quality by innovating production technology and strengthening store operation management, thus creating their own brand culture and brand value, and at the same time providing consumers with the required social places through fashionable and comfortable store decoration, so that the products have dual attributes of social value and leisure value.

in addition, the new tea brand attaches great importance to channel construction. The brand not only has the consumption mode of traditional offline stores, but also has opened online purchase channels, including its own channels (brand APP, applets) and third-party channels (Meituan, Hungry, etc.). In terms of marketing promotion, content marketing is a magic weapon for new tea brands. For example, by cooperating with other brands, it can not only bring the attraction of new product sales, but also create marketing topics, thus improving the brand's popularity.

2. The users of new-style tea drinks are highly sticky

Because the new-style fresh-made tea drinks pay attention to product quality and have social value, they are deeply loved by consumers. In recent years, consumers of new-style tea in China are highly sticky to users of new-style tea. In 2121, during the epidemic in COVID-19, consumers' enthusiasm for freshly made tea was still high, and the topic of # the first cup of milk tea in autumn in Weibo was read as much as 2.42 billion, and the discussion volume was as high as 1.117 million.

With the improvement of Chinese consumers' spending power, people's requirements for the taste of drinks are constantly improving. Compared with traditional tea drinks, new tea drinks have better taste and more choices because they are favored by consumers. According to the survey data, in 2121, 76% consumers will buy new tea every week.

current situation of the industry

1. overall situation of the industry

-the proportion of online consumption has increased

compared with the traditional tea, the upgrade and innovation of the new-style fresh-made tea has diversified the functions of the new-style fresh-made tea, thus promoting the development of new-style tea consumption in China. It is mainly manifested in three aspects: product raw materials, beverage appearance and scenes, which can be divided into online and offline scenes, and the current offline store consumption scene is the main sales channel. Among them, online spaces such as applets, apps, and third-party take-away platforms have further promoted the development of existing tea consumption.

With the popularization of mobile Internet and mobile payment and the continuous digitalization of China catering industry, the retail consumption value of ready-made tea products through take-away service will increase from 711 million yuan in 2115 to 28.4 billion yuan in 2121; In China, the proportion of take-out of existing tea products in total retail consumption has increased from 1.7% to 25%.

—— The new tea market broke out rapidly

With the improvement of people's requirements for food health, the new tea with better quality tea base and healthier ingredients overtook in a short time, and the new tea market in China broke out rapidly. In 2121, China's new tea market will reach 113.6 billion yuan, a year-on-year increase of 6.87%.

2. Market segments: The high-end new-style tea market is growing substantially

In addition to selling new-style tea, new-style tea shops also sell other cross-selling products such as baking products. Among them, the high-end new tea market whose average selling price is not lower than that of 21 yuan is growing rapidly. In 2121, the total sales of high-end new tea shops in China will be 15.2 billion yuan (including new tea and baking products), with a compound growth rate of 81.2% from 2115 to 2121.

industry competition pattern

1. regional competition: mainly concentrated in the southeast coastal areas

enterprises in the new tea industry are widely distributed in various regions of the country. From the distribution of representative enterprises, there are more representative enterprises in Shanghai, Sichuan, Guangdong and Fujian.

judging from the main distribution areas of industry representative enterprises, the southeast coastal areas are the main distribution areas of most enterprises. For example, the main layout areas of American and Western restaurants, Pindao restaurants and Sen no Rikyū restaurants are in Guangdong, Jiangsu, Zhejiang and Shanghai, and the main layout areas of rooting restaurants and Zhaoyi commerce and trade are in the southeast coastal areas.

2. Competition among enterprises: The competition in the new tea market is fierce

In terms of competition, the competition in the new tea market in China is fierce at present, and there are three major echelons of participants in the market, namely, high-end new tea brands with prices above 21 yuan, middle-end new tea brands with prices from 11 to 21 yuan and low-end new tea brands with prices below 11 yuan.

in terms of sales, in 2121, the highest market share of new tea brands in China is the low-end brand Mi Xue Bing Cheng, accounting for 11.52%, followed by the middle-end brand COCO, with a share of 11.15%, while the market share of high-end brands Xi Cha and Naixue Tea is low.

Development prospect and trend of the industry

1. Digital operation will further accelerate development

The sudden COVID-19 epidemic in p>2121 has dealt a heavy blow to the catering consumption industry, and "recovery" has become a common topic for new tea-making enterprises. Head brands, such as Naixue Tea and Hi Tea, quickly adjusted their strategies, relying on intensive membership system, entering e-commerce platform, launching new retail, small programs and digital operation to revitalize traffic, and new ready-made tea entered the digital development stage.

the digitalization of new tea is based on digital management, and the whole link is built digitally. The biggest change in this digital transformation is the way consumers place orders online through digital channels such as applets, apps and third-party platforms. In the future, with the gradual expansion of the new tea market, digital operation will further accelerate its development.

2. Expansion of product target group positioning

At present, the new-style tea mainly targets a new generation of young consumers, mainly aged between 21 and 41. Lack of product series for children or the elderly. In the future, new-style tea will launch more nutrition series and health care series products, which will be aimed at the elderly market and children's market. For example, the health series tea developed for the elderly is estimated to be a high-end consumer price, and it is predicted that this market will be a battleground for businesses in the future.

3. The high-end new tea market has great potential

According to Naixue's tea prospectus data, the scale of China's new tea market is expected to reach 341 billion yuan in 2125. Among them, the high-end new tea shops whose average selling price is not lower than that of 21 yuan are growing rapidly. In 2121, the retail consumption value of new tea and baked products produced by high-end new tea shops in China is about 15.2 billion yuan, and it is expected to reach 62.3 billion yuan in 2125, with a compound growth rate of about 32.7%. In 2121-2125, the proportion of high-end new tea market in China will increase from 13.4% to 18.3%, and the market potential of high-end new tea is huge.

for more industry-related data, please refer to the analysis report on market prospect forecast and investment strategic planning of China new tea industry by Forward-looking Industry Research Institute.