“一天8杯水”，变成百亿大生意

Core Viewpoint - The rise of "water substitutes" is transforming the beverage market, with a focus on health-conscious consumers seeking flavorful, low-sugar options. This trend is particularly evident in the growth of traditional Chinese herbal drinks and sugar-free teas, which are increasingly competing for market share in the beverage industry [1][4][7]. Group 1: Market Trends - The concept of "water substitutes" has emerged as a healthier alternative to sugary drinks and bottled water, appealing to a broad consumer base [1][4]. - The market for traditional Chinese herbal drinks is projected to reach approximately 10.8 billion by 2028, with a compound annual growth rate of about 88.9% from 2024 to 2028 [6][4]. - The number of new sugar-free tea products launched in 2023 reached 157, indicating a significant increase in market activity [5]. Group 2: Product Development - Boxed water products like "暑清元气水" and "五汁饮" represent the evolution of herbal drinks, with over 20 new products launched by Boxed in this category [1][4]. - The success of these products is attributed to their appealing taste and lower price points, which are essential for consumer acceptance [11][12]. - Boxed has focused on improving the palatability of its herbal drinks while maintaining traditional recipes, collaborating with established brands like Li Liang Ji to enhance product credibility [15][16]. Group 3: Competitive Landscape - The competition in the "water substitute" market is intensifying, with both new entrants and established brands innovating to capture consumer interest [13][14]. - Traditional herbal drinks are now seen as a direct competitor to sugar-free teas, with expectations that they will surpass sugar-free beverages in market share [7][4]. - The pricing strategy for herbal drinks is crucial, with efforts to keep costs competitive with bottled water and sugary drinks [12][11].