Taiwan’s pearl milk tea has not only sparked a long queue in Japan, but also flourished in the global market. The company contributing to the success of pearl milk tea is Taiwan’s beverage raw material supplier Chen En Food Product Enterprise Company.
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According to the statistics of the Ministry of Economic Affairs, Taiwan sells more than one billion cups of beverages a year domestically, with an average of 44 cups per person per year.
Chen En Food Product is not only the largest supplier of beverage ingredients in Taiwan, it is also the company who brought Taiwan’s pearl milk tea into the global market.
Pearl milk tea has presence in 60 countries around the world, from Germany, to the island of Mauritius, to Chile, Brazil, and then to the United States, Australia, and Indonesia. The next step is to target markets like Nigeria.
To further expand the pearl milk tea market globally, Chairman of Chen En Food Product Liu Jisheng revealed that the company spent NT$400 million to expand the new factory in Chiayi, Taiwan, which is expected to be put into operation in the fourth quarter. The production capacity is expected to double, and that this year’s revenue will continue to increase.
Liu Jisheng said that the company has been targeting the Southeast Asian market in the past seven years. The annual growth rate of revenue growth is as high as 20%, pushing up the annual revenue to a new high of more than NT$500 million.
In addition, Liu Shengen, general manager of Cheng En Food Product, also pointed out that in recent years, the government has been actively promoting and encouraging sales of Taiwan’s pearl milk tea in Nigeria.
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As a market that accepts a variety of price range for food and beverages and with a middle class population of 20 million, Nigeria opens a great business opportunity for Taiwan’s pearl milk tea.