While giants like Starbucks, McDonald’s, and Subway boast impressive global footprints, one fast-food chain dwarfs them all in terms of sheer location count. You may not have even heard of it, especially if you’re based in the United States. So, What Is The Biggest Fast Food Chain?
In early March, Mixue Ice Cream and Tea, a Chinese fast-food chain with a growing presence across Asia and Australia, captured the attention of the Western world. This surge in recognition coincided with its initial public offering (IPO), which, according to the Wall Street Journal, generated over $400 million. The company’s stock experienced a remarkable 43% surge above its IPO price, elevating its valuation to over $10 billion. Let’s dive into what makes this company such a significant player in the fast food industry.
The Sheer Scale of Mixue Ice Cream and Tea Locations
According to the Wall Street Journal, Mixue Ice Cream and Tea concluded 2025 with an astounding 45,000 stores. This represents a doubling of its locations within just three years. Reuters points out that, similar to McDonald’s, the majority of Mixue’s outlets are operated by franchisees (approximately 80% of McDonald’s locations are franchisee-owned).
Founded in 1997 by brothers Zhang Hongchao and Zhang Hongfu, Mixue started as a modest ice cream shop in Zhengzhou, Henan province. Today, Business Insider reports that the brothers’ combined net worth has soared to $8.1 billion.
Specialty Drinks at Unbeatable Prices
Mixue’s substantial revenue is fueled by a simple yet appealing menu of milk tea, fruit beverages, ice cream, and coffee. Business Insider emphasizes the affordability of its offerings, with the Signature King Cone ice cream priced at just over $1 (SGD$1.50). Even the most expensive item, the cheese strawberry drink, retails for only $3 (SGD$4).
One of Mixue Ice Cream and Tea’s popular menu items is the Super Boba Sundae.
According to Fast Company, the Super Boba Sundae, a blend of vanilla ice cream, sweet caramel or brown sugar syrup, and boba topping, stands out as a customer favorite. Other popular items include the Brown Sugar Bubble Tea and Lemon Black Tea. Analysts suggest that this combination of variety and value is what attracts customers and investors alike.
The Beloved “Snow King” Mascot
While Mixue is renowned for its exceptional deals, its mascot, the “Snow King,” is a close second in popularity. This snowman, adorned with a crown, has become the brand’s iconic symbol.
As Fast Company describes, the “Snow King” is “pleasantly round, wears a red cape, and holds an ice cream cone on a stick like a scepter.” The mascot has gained significant traction on social media, engaging with fans both online and in person.
Expansion Plans: U.S. and Europe on the Horizon?
CNBC reports that Mixue may soon extend its reach to Europe and even the United States. Investor Longdley Zephirin, principal and analyst at The Zephirin Group, told CNBC that investors are “warming up to the bubble tea market again,” highlighting the successful IPO as an indicator of investor enthusiasm for such brands. However, CNBC also notes that Mixue’s primary challenge will be penetrating “tier one” cities with already strong competition. Ultimately, the brand’s success will hinge on providing consumers with the opportunity to experience its offerings firsthand.
In conclusion, the answer to “what is the biggest fast food chain?” might surprise you. While established brands remain popular, Mixue Ice Cream and Tea’s rapid growth and unique appeal have propelled it to the forefront of the global fast-food landscape. Keep an eye out – you might just see a “Snow King” near you soon!
