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McDonald’s dethroned as world’s largest fast food chain by company with no restaurants in the US

McDonald’s has been surpassed by Mixue Bingcheng as the world’s largest fast-food chain. With over 45,000 locations globally as of September 2024, Mixue Bingcheng, a Chinese bubble tea and ice cream chain, now has more restaurants than McDonald’s, which has around 41,800 locations worldwide as of 2023. Mixue Bingcheng is known for its affordable prices, including soft-serve ice cream cones for about 15 cents and drinks ranging from 30 cents to $1.20. Over 99% of its stores are franchised, with revenue primarily generated from selling food materials, equipment, and packaging to franchisees. Despite its global presence, Mixue Bingcheng’s revenue remains lower than major US chains like Starbucks and Tim Hortons.
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