Introduction:While beverage and coffee brands fiercely compete in the market with consumers’ attention focused on collaborations and promotions, it is actually the behind-the-scenes ingredient and packaging suppliers that are quietly rising. These companies, by ensuring stable supplies of sugar substitutes, fruit juices, and packaging materials, have not only seen significant growth in performance but are also actively preparing for IPOs. This article delves into the rise and market strategies of these supply chain enterprises, giving you an insight into the hidden winners in the new consumer trends.

As brands such as Heytea, Nayuki, Starbucks, and Luckin compete intensely at the terminal market—through collaborations, new products, and price reductions to attract consumers—their behind-the-scenes ingredient and packaging suppliers are quietly accumulating substantial profits. These supply chain companies, including Bestore Foods, San Yuan Biology, Tianye Shares, Hengxin Life, and Dexin Foods, are collectively moving toward capital markets in search of broader development opportunities.

These suppliers serve a wide range of well-known brands, including Uni-President, Champ, CoCo, Mixue, Genki Forest, Nayuki, and Luckin, offering diverse products such as sugar substitutes, fruit juices, paper cups, and syrups. They help downstream brands meet consumer demands. Their impressive performance has made them a significant part of the new consumption wave.

As one of the earliest listed consumer suppliers, Bestore Foods was established in 2001. Its clientele includes traditional beverage companies such as Uni-President and Champ, as well as new-style tea brands like CoCo, Auntie Huang, Guming, and Mixue. These diverse partnerships have brought stable orders and revenue growth to Bestore Foods.

Meanwhile, San Yuan Biology has been focusing on industrial-scale production of erythritol—a common sugar substitute mainly used as a bulking sweetener in food and beverages—since 2007. Although not widely known as a brand, its prospectus reveals that Genki Forest is its largest customer, and it also supplies erythritol to new tea brands like Heytea, highlighting its important position in the healthy sweetener market.

Juice ingredient suppliers have also benefited greatly from the boom in the new tea market. Established in 2007, Tianye Shares offers products including juice ingredients, quick-frozen fruit pieces, and fresh fruits. The company was listed on the New Third Board in 2015. With the rise of new tea brands, Tianye Shares’ client list has gradually expanded. By 2021, four major brands—Nayuki, ChaBaidao, Yidian Dian, and Auntie Huang—accounted for 56.49% of its operating income.

Hengxin Life plays a key role in the packaging materials field. In May of this year, the company submitted a prospectus to apply for listing on the ChiNext board, planning to raise 828 million yuan. Its client base includes well-known brands such as Luckin Coffee, Starbucks, Heytea, Mixue, Manner Coffee, Burger King, CoCo, and Guming. In 2021, Hengxin Life achieved annual revenue of 719 million yuan, selling up to 2.1 billion paper and plastic cups, demonstrating its significant influence in the disposable tableware market.

In addition, Dexin Foods disclosed its prospectus on July 6, planning to list on the main board of the Shenzhen Stock Exchange. The company’s main products include beverage concentrates and flavored syrups, supplying key ingredients to brands such as Luckin Coffee, Starbucks, and Nayuki, further solidifying its position in the coffee and tea supply chain.

The rapid development of new-style beverages has directly driven the growth of upstream suppliers. As downstream brands face intense competition in the terminal market, these supply chain companies—relying on stable product demand and performance—are accelerating their path to the capital markets, becoming the hidden winners in the new consumption wave.

The above content is compiled by CoffeeHunters, a coffee news website.