Investors Alert! To harness the growing interest of boba tea in the Middle East, Taipei-based franchisor CoCo Bubble Tea unveils a new Halal menu along with its plans to expand into the MENA region.
Worldwide, the bubble tea market is expected to grow 66% in seven years, from USD 2.46 billion in 2023 to USD 4.08 billion by 2030. According to CoCo, the popularity of bubble tea is also growing in the Middle East; CoCo claims it has drawn significant interest from MENA-based refreshment companies and entrepreneurs.
Commenting on the demand, CoCo Director of Business Development Kody Wang says strong interest from MENA has precipitated a search for partners who want to explore franchise opportunities.
“We’ve received a major spike in inquiries from MENA, so we see it as a key region for expansion. CoCo has a lot to offer . We have over 5000 stores worldwide and have the most international coverage of any pearl milk tea brand. This allows potential partners to leverage our strong brand recognition and sophisticated infrastructure. Also, our franchise business model and extensive R&D capabilities give us a great deal of latitude to fully tailor refreshment offerings to consumer tastes. The Halal menu is just a start, and we hope to find master franchisers to partner with and grow together,” says Wang.
According to Wang, the influence of Asian culture is penetrating the Middle East, given shared cultural customs around drinking tea. Wang claims that local consumers are particularly receptive to boba tea, which mixes the novelty of boba with the familiar strong sweetness of tea.
By prioritizing R&D, Wang says that CoCo has an extensive ability to adapt and localize refreshments to suit consumer tastes anywhere.
To this end, a Halal Bubble Tea menu has already been adapted, with all ingredients Halal certified. Wang says that the menu offers a variety of option, and leaves room for further customization to accommodate regional variations in preferences.
According to Wang, CoCo can offer franchise partners a strong brand reputation and recognition.
“We have over 5000 stores globally, giving CoCo the largest footprint of any bubble tea brand, with helps to attract customers and drive business growth. We are open to a range of partnerships, from multi-store franchise partnerships to exclusivity in certain countries. Furthermore, as materials are supplied by CoCo, supply chain costs are easily managed,” says Wang.
Notes from the Editor: CoCo Bubble Tea says it is looking for enterprising partners to join the CoCo Bubble Tea franchise networks. For those interested, you can check out CoCo Bubble Tea’s official website and start your application here.
