With the European bubble tea market over $300 million in size and growing at 9% per year, plans for expansion are underway
TAIPEI, March 15, 2023 /PRNewswire/ -- Premium bubble tea franchise CoCo Fresh Tea & Juice announced it is attending the upcoming Franchise Expo Paris 2023 happening from March 19 to 22. This comes amidst CoCo's plans to expand in the lucrative European market to capture the high demand for bubble tea, largely driven by younger consumers.
Bubbling Bubble Tea Demand
The demand for bubble tea has grown exponentially in recent years, particularly among younger consumers. When a 2021 study surveyed consumers, it found that 94% of individuals aged 20-29 had bought bubble tea in the last three months. For this age group, a large part of what makes CoCo bubble tea so appealing is the chance to express themselves through the brand's uniquely customizable flavors.
Building Momentum in European Market
CoCo is an established entity with extensive experience in the bubble tea industry and has opened 5,000 bubble tea shops globally to date. Furthermore, since 2019, the brand has grown considerably in Europe, a significant accomplishment amid the many pandemic-era challenges. Its regional presence currently includes France, Spain, the Netherlands, Belgium, Sweden, and the UK, and a future opening is slated for Italy as well.
On top of Europe-based individual franchisees, CoCo also is striving to grow its footprint through partnerships with larger chain stores and refreshment companies.
Franchise Expo Paris 2023
As the leading franchising event for franchise entrepreneurs in France and for investors and master franchisees internationally, the Franchise Expo Paris sees more than 30,000 project holders annually. Its 500 exhibitors will represent a variety of industries, including foods and beverages.
"We are thrilled to showcase our classic and innovative boba tea flavors at such a renowned event," said Kody Wang, Deputy Director of Business Development at CoCo Fresh Tea & Juice. "CoCo prides itself on bringing the world to you in a cup of bubble tea, and we look forward to scaling up to better serve European consumers with flavors from all over."
Fostering a Robust Partner Ecosystem
CoCo is harnessing the significant growth seen in the European market over the last two years by seeking Europe-based corporations and chains in the F&B industry to resell its bubble tea products. With its extensive bubble tea shop presence worldwide, CoCo has impressed a major global footprint, positioning the company as a leader in the bubble tea industry and in the perfect place to partner with companies seeking to capture the growing bubble tea demand.
For franchisees, CoCo is a dedicated, diligent partner and promises high brand recognition around the world. In terms of resources, it provides comprehensive training and support for franchisees, including pre-opening preparation, daily operation support and seamless communications with the head office. Once operational, CoCo provides onsite support to keep its franchisee partners successful, and its purchasing power behind its numerous stores ensures costs are controlled.
For more information, please visit https://www.coco-tea.com/.
About CoCo Fresh Tea & Juice
CoCo Fresh Tea & Juice aims to create a diverse and sustainable community for its consumers by providing visually refreshing products. We continue to be one of the fastest-growing companies and are looking for enterprising partners to join the CoCo Fresh Tea & Juice franchise networks. Check CoCo Fresh Tea & Juice's official website and start your application now.
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