ultimateimp – McDonald’s no longer holds the crown for the most fast food locations worldwide. That title now belongs to Mixue Bingcheng, a rapidly expanding Chinese chain best known for its budget-friendly bubble tea and soft-serve ice cream. As of September 2024, the company has opened over 44,800 outlets globally, overtaking McDonald’s total of 41,800, according to data from Statista via Chowhound.
Founded in 1997, Mixue Bingcheng built its empire on affordability and franchise-friendly growth. A single cone of ice cream costs just one yuan—roughly 11p—making the brand a popular option among price-conscious consumers. Its signature bubble tea and other chilled beverages are also priced significantly lower than competitors, with drinks starting from just 21p.
Global expansion without a Western presence
Despite its massive footprint, Mixue Bingcheng remains largely unfamiliar to Western consumers. Over 90% of its outlets are located in China, while the rest are spread across Southeast Asia, including Vietnam, Indonesia, and Malaysia. Notably, the chain has yet to establish any presence in the United Kingdom or the United States.
Mixue has driven its global success by aggressively expanding through franchising.el. The parent company profits primarily by selling food ingredients, packaging, and equipment to its operators, who own over 99% of Mixue locations.
What started as a humble venture more than two decades ago has evolved into a global fast food force. Setting a new standard for growth and scale. With a business model built for volume and accessibility. Mixue Bingcheng is now the unexpected leader in the international fast food race—even without setting foot in Western markets.
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Mixue soaring profits signal strong domestic momentum
Although Mixue Bingcheng now boasts the highest number of outlets among fast food chains globally, it still lags behind brands like Starbucks and Tim Hortons in total revenue. However, recent financials show impressive momentum. In the first nine months of 2024, Mixue reported a net profit of 3.49 billion yuan, marking a 42% year-on-year increase. Revenue also climbed 21% in the same period, reaching 18.7 billion yuan.
Founder Zhang Hongchao continues to drive the brand with a clear mission: “Let people around the world eat well and drink well for just two American dollars,” he told Chinese state media. With such a vision and expanding global reach, Mixue may soon narrow the profit gap with its larger Western rivals.
McDonald’s faces setbacks but maintains cultural dominance
Meanwhile, McDonald’s reported a slight decline in fourth-quarter net income, falling to $2.02 billion from $2.04 billion the previous year. Analysts suggest a potential link between this dip and the Centers for Disease Control and Prevention’s investigation into a fatal E. coli outbreak associated with the Quarter Pounder.
Despite financial fluctuations, McDonald’s retains a powerful cultural presence. After the 2024 Oscars, the brand released a video campaign titled “After the Biggest Night,” showcasing A-listers’ breakfast orders. Celebrities like Keke Palmer, Michael B. Jordan, and Julia Fox were featured enjoying classic menu items like Egg McMuffins and McGriddles.
Can Mixue compete in Western markets?
Mixue’s absence from the U.S. and U.K. leaves room for massive expansion potential. With its affordable pricing and franchise-driven model, entering Western markets could shake up the fast food industry.
The Chinese brand’s swift growth underscores the strength of its domestic market and hints at broader ambitions. If Mixue targets North America next, competitors like McDonald’s and Starbucks may face a new and formidable challenger.
