People walk past a bubble tea storefront with a red sign featuring a snow king mascot and white Chinese characters that read "Mixue Bingcheng."

Think McDonald’s and Starbucks are the world’s biggest food and beverage chains in terms of locations? Think again. Mixue Ice Cream and Tea, China's largest bubble tea and drinks chain famous for its snow king mascot and low prices, boasts more outlets than both U.S. brands.