Competition intensifies with new players jostling for market

China's tea drinking market is estimated to be around 40 to 50 billion yuan ($5.81 to 7.27 billion), according to CITIC Securities. According to China Tea Marketing Association, more than 500 million consumers consumed 1.9 million tons of tea leaves in 2017. As the world's largest producer and consumer of tea, China is seeing a new trend of tea, brewed by both local and international players, looking to steal young people from the beverage's long-standing enemy - coffee.

inWE Tea

Miao Qin has been a familiar name in China's food and beverage industry way before he started inWE Tea. As the former general manager of McDonald's China, Miao was the youngest executive of the fast food chain in China before leaving the company in 2008 and the first Chinese to take the helm.