Although there are plenty of bubble tea flavors to choose from, fruit teas tend to be the most popular. On the contrary, introduction of various new flavors and blends and high demand among young population for a variety of teas are expected to provide lucrative opportunities for the market expansion.The bubble tea market has been segmented on the basis of on base ingredient, flavors, component, and region. The adoption of bubble tea has been quite high in mature regions such as the U.S., Canada, and Germany while emerging countries such as China, Brazil, and India are catching up quickly. The green tea segment was the highest contributor to the market, with $16,362 million in 2019, and is estimated to reach $26,110 million by 2027, at a CAGR of 9.8% during the forecast period. Adults' total beverage consumption drops steadily with age. The Bubble Tea Club Kit has everything you need to make delicious homemade bubble tea. Chatime, Gong Cha, Coco Fresh Tea & Juice, and Lollicup USA, Inc. are the leading players in the market. The global Bubble Tea Market is expected to $4,368.6 million in 2027. Sometimes they are blended with ice to give them a more slushy-like consistency. +44 208 097 3636. Health beneficial attributes such as low-fat, low-calorie content, and presence of anti-inflammatory properties are the key driving factors of the market. Furthermore, the shift of millennials toward such products owing to their demand for superior quality tea varieties with unique flavor offerings has aided in the growth. For instance, in June 2022, Frankly, the first Italian bubble tea chain, witnessed a massive increment of around 148% compared to the previous years via a crowdfunding campaign. Future Market Insights Global and Consulting Pvt. If youre looking for a sweet, refreshing drink that doesnt compromise on flavor or quality, bubble tea is the answer. This was attributed to rise in the fitness conscious people across the globe. In 2004, daily beverage consumption of 19- to 30-year-olds averaged 2,610 grams for men and 2,056 grams for women (Table 1). China is one of the prominent regions in the market that accounted for a sizeable share of the total market in 2019. Against this backdrop, the market valuation is projected to reach US$ 245 Mn by 2032. Bubble tea has a sweet, sour, and tangy taste that varies depending on the type of fruit used. This was attributed due to rise in the consumption of tea based everages across the world. The report provides a quantitative analysis of the current bubble tea market trends, estimations, and dynamics of the market size from 2019 to 2027 to identify the prevailing opportunities. Whats your favorite bubble tea base to start with? Bubble tea typically sells for about $3 to $5 for a 16- to 20-ounce serving. At the end of the day, its not much worse than an occasional soda would be for the average person, but its important to remember to only have bubble tea once in a while. We are happy with the professionalism of your in-house research team as well as the quality of your research reports. It also revealed that the global bubble tea market size was valued at US$2.02 billion in 2019, and is expected to reach US$3.39 billion by 2027. Availability of Other Caffeinated Drinks to Impede Growth. The research report includes quantitative and qualitative insights into the market. Asia Pacific Bubble Tea Market Size, 2021 (USD Billion), To get more information on the regional analysis of this market, Request a Free sample. Find the most up-to-date statistics and facts on the tea market in Canada. We selected the top 40 popular menu items from three of the most commonly used OFD applications in 2021. 01 The first bubble tea came out in the early 1980s. Rising Raw Material and Transportation Cost Due to the Pandemic to Slow Down the Market Growth. Furthermore, there has been an increase in boba stores in the U.S. and Canada, owing to the shift in consumer preferences toward no andlow-alcohol beverages, which has further contributed to the market growth. The demand for bubble tea is predicted to grow at an impressive rate. The data says that for every additional 1% of expats living in a postcode, we should expect the probability of a bubble tea shop in that postcode to increase by 0.0091 from a baseline of -0.2089. However, the chocolate flavor segment is expected to witness highest growth, owing to increase in its popularity of in all age groups for all flavored beverages and rise in awareness of health benefits of chocolate among consumers. This means, market totals are not comparable to published data from prior years. Why buy this report? Bubble Tea Popularity Statistics Singapore; by palmebre Published: July 20, 2021 (2 days ago) Category. One concession owner became popular with her . Just over half (52%) of all free sugars consumed were from beverages, led by soft drinks, sports and energy drinks (19%), fruit juice and fruit drinks (13%), with the sugar added to beverages such as tea and coffee contributing 7.3% and . After experiencing a downfall due to fierce market competition in 2003, the bubble tea market was revived in 2007 with the entry of several foreign brands. There are many varieties of the drink with a wide range of ingredients. Market size and forecast, by Flavor, 2020-2028 Tea consumption per capita in the UK is 1.3 kg for 2019. Bubble teas growing appeal to a younger demographic coupled with its popularity as a nootropic beverage will likely supplement the sales of the tea in the market over the forecast period, says an FMI analyst. As more and more countries discover the delicacy that is bubble tea, these figures are sure to continue growing. Teenagers and people in their 20s consistently account for the highest consumer percentage of bubble teas. Meanwhile, Philippinos drink five cups of this tea per month. This is far higher than the cost of a similar amount of milk or juice, but the high price does not seem to deter people from making it their go-to beverage. Strong dependency on Asian countries to source raw materials acts as one of the major restraints in the market. Aug 16, 2022, 1:25 PM SGT. Pour into a glass, and add tapioca. Over 90% of the tea consumed is Black Tea, about 5% Green Tea, 1% Oolong Tea and the balance flavored, scented, or mixed teas. 87% of American millennials drink tea, including bubble tea. The price for bubble tea depends on where you get it. Many Thai people drink bubble tea daily, and in many cases may drink multiple cups per day. To know how our report can help streamline your business, Speak to Analyst, Shift of Consumers toward Black Tea Due to its Health-Imparting Properties Boosts Market's Performance. Using new techniques such as molecular nitrogenation also adds innovation to the traditional recipe, thus further opening numerous opportunities for the market to bolster growth. We dont recommend anyone making it a daily indulgence. This segment is expected to grow significantly throughout the forecast period due to its high nutritional value as compared to other flavors, high popularity of tea-based fruity beverages, and high consumer preference. Heycha and Yicha both have similar-sounding names and include refreshing fruit teas as part of their star offerings. A. Both the at-home and the out-of-home market are valued at retail selling prices including all sales and consumption taxes. Which region held the highest share in the market? It also offers a detailed analysis of the market size and growth rate for all possible market segments. Bubble tea (also known as pearl milk tea, bubble milk tea, boba juice, boba tea, or simply boba) is a Taiwanese tea-based drink invented in Tainan and Taichung in the 1980s. Grab also reported that on average, Southeast Asians drink an average of four cups of pearl milk tea per person per month. While bubble tea is enjoyed by people of all ages, it tends to be a global favorite among younger people. It includes flavor variants such as lychee, mango, passion fruit, peach, plum, strawberry, avocado, banana, grape, kiwi, lemon, and others. That means 24 countries have higher consumption rates that are worth targeting. In 2014, over 77% of the tea brewed in the United States was prepared using tea bags. . Brands such as CHATIME and Bubbolitas established their first production units of boba drinks in 2009, and since then, the market has witnessed a growth trajectory. Bubble tea is a sweet, delicious drink typically made from a tea base that is then mixed with either milk or fruit flavoring. Market size and forecast, by Base Ingredient, 2020-2028 7.3.9.2. Resistant Starch Market Size: The resistant starch market is valued at US$ 10.5 Bn in 2022 and is projected to grow at a CAGR of 6.6% during the forecast period, to reach a valuation of US$ 19.9 Bn by 2032. The bubble tea market in Thailand is predicted to register an 8.7% CAGR. Request Now ! The average volume per person in the Tea segment is expected to amount to 0.68kg in 2023. Bubble milk teas surge in popularity is mainly attributed to taste, affordability, and the rising reinvention of the basic tea recipe. At what CAGR is the bubble tea market projected to grow in the forecast period (2022-2029)? Versatility in flavor, health benefits, and social media trends drive the market. Bubble tea has been gaining traction in emerging markets, owing to rise in its popularity.Furthermore, growth in health consciousness and increase in adoption of healthy beverages such as green tea, black tea, oolong tea, and white tea among consumers drive the market growth. The best of the best: the portal for top lists & rankings: Strategy and business building for the data-driven economy: The Hot Drinks market segment, Tea, consists of black tea, green tea and mate sold in tea bags or as loose-leaf tea. What are the key factors driving the market? One such brand riding that success locally is Chatime, a Taiwanese-founded bubble tea business which chose Australia as its first-ever Western market almost 10 years ago in 2009. You can find bubble tea in these countries if youre traveling the world: Taiwan, Japan, South Korea, China, United Kingdom, Australia, Canada, United States, Germany, Mauritius, South Africa, Brazil, and more! 5. Originating in Taiwan, the drink typically consists of tea, milk/cream, and sugar accompanied by tapioca pearls. However, the consumption of tea is not as prominent as the popularity of coffee in South American countries such as Argentina and Brazil. The Middle East & Africa showcases a slower growth as pearl milk tea is consumed as a social drink or as a gesture of hospitality. 13. The campaign will be extended due to the tremendous profit achieved, which motivates the company to broaden its product offerings and brand position. Tapioca balls or "pearls" are often added to the concoction as well. Tea is a large part of modern Australian culture due to its British origins. The 30 Tea Drinkers vs. Coffee Drinkers Statistics. A. And if youre looking for all the facts and figures that back up our claim, you have this blog post. Its not just the sugar that gives these drinks their sweetness, though; many restaurants also add sweeteners to them. The report was very accurate and as per my requirements. Rising number of fitness conscious consumers and rising demand for tea based beverages in youth generation across the globe is the current trend in the global bubble tea market.. A. Europe and LAMEA will provide more business opportunities for Bubble Tea Market in coming years. Moreover, countries such as Japan, China, the U.S., and Canada are the major consumers of pearl milk tea, and have also experienced a slight dip in their growth due to hindrances in production as well as supply chains during the year 2020-21. Bubble Tea is a famous non-alcoholic beverage drink that first . This beverage has undergone a few waves of popularity in Singapore. Need to talk to an expert? The bubble tea industry is enormous and accounts for one of the fastest-growing food markets in the world today. In the next five years, the bubble tea industry is expected to grow by nearly 54%. This bubble tea craze has taken over. The global COVID-19 pandemic has been unprecedented and staggering, with bubble tea experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. By flavor, the market is classified into coffee, fruit, chocolate, original, and others. Bubble tea truly is an international drink! The players in the bubble tea market have adopted acquisition as their key development strategy to increase profitability and improve their position in the bubble tea market. Which is the leading segment based on the product type in the market? I appreciate the timeliness and responsiveness of you and your team., (applicable to 1 report only for the same license type), The global bubble tea market is projected to grow from $2.29 billion in 2022 to $3.78 billion by 2029, at a CAGR of 7.40% in the forecast period, 2022-2029, 2020 Fortune Business Insights . The valuation of the out-of-home segment at retail prices means a significant change of the market definition in comparison to earlier iterations of the Consumer Market Outlook, as out-of-home consumption was valued at wholesale prices before. The United States and Australia were both introduced to bubble tea in the mid-1990s, and it has been growing in popularity ever since. Remarkable job and great efforts by your research team. Moreover, as per researches conducted by different reputed organizations, tea is proven to prevent different type of cancers, lower cholesterol, help boost immunity, facilitate weight loss, and prevent neurological diseases.This indicates that the health benefits associated with bubble tea are anticipated to drive the overall market. The outbreak of COVID-19 forced government bodies to impose strict closure of restaurants, farms, and factories to maintain safety measures and implement social distancing. By 2025, 70% of spending and 10% of volume consumption in the Tea . The United States and Australia were both introduced to bubble tea in the mid-1990s, and it has been growing in popularity ever since. Countries such as Vietnam and Taiwan are projected to have the largest sales. Bubble tea can be found in over 30 countries. The global bubble tea market size was USD 2.1 billion in 2019 and is expected to register a compounded annual growth rate (CAGR) of 8.9% from 2020 to 2027. Bubble tea is a beverage originating from Taiwan comprising tea with fruit syrup or milk added, and then shaken. Pearl Lemon Boba Unit 4 Building, 250 North End Rd, London SW6 1NJ, United Kingdom. 297 billion liters of tea were consumed worldwide in 2021. There are 250 different flavors of bubble tea. Bubble tea is known for its sweet taste. For one, there are all of the sweet flavors and fun combinations of ingredients you can get. This has led to transportation delays and the functioning of both supplies (tea estates) and demand for consumption points to a standstill due to shortage of manpower and reduced visits of customers to coffee shops amidst the lockdown. Bubble milk tea has emerged as one of Gen Zs trademarks as its consumption is highly witnessed by the young generation as compared to any other age group. Future Market Insights Global and Consulting Pvt. The black tea segment is projected to grow at a significant CAGR during the forecast period, owing to its increased preference by health-conscious consumers across every region. Fruit-flavored bubble teas account for the largest percentage of bubble tea consumed at 37%. For instance, in September 2021, Dubai witnessed the opening of various new tea outlets serving bubble tea across the country. What may surprise you though is the amount of sugar! The article shared insights on the bubble tea craze in Southeast Asia. For example, according to . The devotion to bubble tea is so fanatical that in 2020, at the cusp of the circuit breaker, an argument broke out between a food rider and store employees about a hold-up in orders. Tapioca pearls are made from cassava flour, of which Nigeria is the worlds largest exporter (21%). The two most popular varieties are bubble milk tea with tapioca and bubble milk green tea with tapioca. China is projected to exhibit a 7.5% CAGR. Gong Cha, Kung Fu Tea, Lollicup USA, Tiger Sugar, Sharetea, Boba Guys, Tapioca Express, Cha Time, Ten Rens Tea Time, YiFang Bubble Tea, CoCo Fresh Tea & Juice, DaBoba, Happy Lemon, Quickly, Cojiitii, and others are some of the manufacturers of bubble tea profiled in the full version of the report. This can be attributed to the availability of various options such as combination of various liquid flavors and syrups. Moreover, based on the study by the finance-based startup, Momentum Works and payment startup, Qlub, Indonesias bubble milk tea market ranked first among all the Southeast Asian countries. Jan 2023. In addition, the growing gastronomic tourism, rising number of health-conscious individuals, and increased social media influences further paved the way toward growing potential. The out-of-home market, also called on-trade market, away-from-home market or HORECA encompasses all sales to hotels, restaurants, catering, cafs, bars and similar hospitality service establishments. Malaysia Coffee & Tea Reports: Our 2023 Malaysia report include trends, statistics, opportunities, sales data, market share, segmentation projections on the Coffee & Tea market. Reduced sugar/ sugar-free bubble tea will gain traction over the assessment period. Furthermore, a decline in the growth of bubble tea consumption is witnessed due to strong restrictions on import and export facilities. According to Fortune Business Insights, the Asia Pacific region holds the largest market share and is expected to grow at a compound annual growth rate (CAGR) of 10.07 per cent by 2027. Ltd. NEWARK, Del, July 26, 2022 (GLOBE NEWSWIRE) -- The global bubble tea market is projected to reach a value of US$ 5.5 Bn by 2031, with sales growing at a robust CAGR of 8.8% for the forecast period of 2021-2031. In this era, the growing consumer preferences for products depend on various factors such as choice of taste, price, brand, and location accessibility. The bubble tea industry is expected to reach $3.39 billion by 2027. We are happy to help. Boost your students confidence by putting their results next to the public's The emerging players in the Bubble Tea Market are Bubble Tea Supply Inc., ChaTime, CoCo Fresh, Quickly, Kung Fu Tea, Boba Loca, Happylemon, Share Tea, T Bun International, Fanale Drinks, Grand Chainly, and Huey-Yuhe Enterprise. Background: Bubble tea has become enormously popular in China in recent years. Porters five forces analysis highlights the potency of the buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplierbuyer network. Read More . BBT Club is Australia's leading DIY bubble tea company for anywhere and anytime. Tea stands were set up in front of the schools and would compete for business with the best selling tea. Moreover, the availability of suitable alternatives, such as unsweetened tea, coconut water, fruit-infused teas, and others, offering similar benefits, hamper the global market growth. With bubble teas sudden increase in popularity, it should be no surprise that the industry is only expected to keep growing. The mean age of study participants was 24 years and the age range was 18 or older to younger than 30 years. By base ingredient, it is divided into black tea, green tea, oolong tea, and white tea. Bubble tea got its name from the tapioca balls because when theyre added to the drink and shaken, the balls expand and pop, creating a popping soundor bubbling.. Australia: 0.75 kg (1.65 lb) 17 A South Australian Health Omnibus Survey (SAHOS) done in 2014 showed that there was a . Press release from: Analytics Market Research. Australians drink tea and have afternoon tea and morning tea much the way the British do. Pearls or boba color varies depending on the additives added to the tapioca and this segment is one of the most trending bubble tea across the world. Italy's economy contracted by 0.1 per centquarter-on-quarter in the final three months (Q4) of last year, thecountry's National Institute of Statistics (ISTAT) said.On a year-on-year basis, gross domestic product (GDP) in the quarterincreased by 1.4 per cent, against the originally estimated 1.7 percent, reports Xinhua news agency citing ISTAT . Find your information in our database containing over 20,000 reports, Consumer Market The market is projected to grow from USD 2.29 billion in 2022 to USD 3.78 billion by 2029, exhibiting a CAGR of 7.40% during the forecast period. There was a 3,000% increase in the amount of bubble tea orders in Southeast Asia in 2018. Coffee and tea are the most consumed as well as socially accepted nootropic beverages across the world, and many consumers are highly dependent on such caffeinated drinks before starting their day. Table I : Prevalence1 of Bubble Tea Consumption among Students in University of Cyberjaya according to Sociodemographic Descriptions Sociodemographic description Bubble tea consumption Consume, n (%) Do not consume, n (%) Total, n (%) . 04 For a short time in 2012, all 800 branches of McDonalds in Germany sold bubble tea. Directly accessible data for 170 industries from 50 countries and over 1 million facts: Get quick analyses with our professional research service. 14. Over 95% of females in the united states have tried bubble tea, while 81% of males . Theres a lot more to bubble tea than meets the eye, and weve discovered all of the reasons that its a global favorite. Statista. Moreover, higher expenditure of consumers on healthy beverages adds to the popularity of bubble tea in theregion. https://www.grandviewresearch.com/industry-analysis/bubble-tea-market, https://foodinstitute.com/focus/survey-millennials-gen-z-big-fans-of-bubble-tea/, https://youthinsight.com.au/brands/more-girls-aware-of-bubble-tea-than-boys/, https://www.cnn.com/travel/article/taiwan-bubble-tea-origins/index.html, https://www.duluthnewstribune.com/8-things-you-might-not-know-about-bubble-tea-and-other-unexpected-holidays-this-week, https://www.fortunebusinessinsights.com/industry-reports/bubble-tea-market-101564, https://www.organicfacts.net/health-benefits/herbs-and-spices/bubble-tea.html, https://chinamarketadvisor.com/what-is-boba-and-why-is-it-so-popular/, https://theaseanpost.com/article/southeast-asias-bubble-tea-craze, https://www.worldteanews.com/Insights/millennials-and-gen-z-drive-21st-century-tea-preferences, https://www.honestfoodtalks.com/bubble-tea-flavors-boba-toppings/, https://www.healthline.com/nutrition/boba-cancer, https://mtalvernia.sg/education/whats-in-my-bubble-tea/, Tea thats infused with milk or another liquid, Artificial sweetener like stevia or sugar (more on this below), Special straws designed to make the best bubbles possible. Online retailing is predicted to register an 11.9% CAGR. The market is expected to grow at a CAGR of 7.40%, during the forecast period. Bubble tea is also known as pearl milk tea. In 2018, bubble tea made a 3,000 . 4. Unilever (Lipton), Associated British Foods (Twinings) and Tata Global Beverages (Tetley) are globally the most important players by revenue. These drinks are made with milk tea and tapioca pearls (to make the bubbles), which contain a lot of natural sugar. The market for Hot Drinks is structured into retail sales for at home consumption and on-premise or foodservice sales for out-of-home consumption. Address Shop 14, 375 William Street, Northbridge, Western Australia, WA, Australia 6003 Phone Number 0434039801 Categories Bubble Tea Shop, Tea Room Your email address will not be published. India is currently 1-0 up in the series, which has seen Indian spinners dominating both the tests in Nagpur and Delhi. FB : Beverages| Pages: 261 | Author(s) : Vaibhav S , Roshan D, Single User License, Five User License & Enterprise User License. Revenue in the Tea segment amounts to US$1.40bn in 2023. Premium Statistic Global tea consumption 2012-2025 . South America is anticipated to grow in terms of sales volume of the products in the coming years. Picture via Instagram/yicha_malaysia and myheycha. Such initiatives further support the immense growth opportunities for the companies. The percentage of tea that is consumed which is green tea: 15%. Singapore market is forecasted to grow at a CAGR of 10.7%. That is approximately four cups of brewed coffee, 10 cans of cola or two "energy shot . An Infographic Representation of Bubble Tea Market, To get information on various segments, share your queries with us. Apart from this, coffee flavor is also anticipated to hold a strong market share in the forecast period owing to the escalated demand for coffee as a healthy beverage. Presently, themarket is moving toward growing stage and is expected to garner steady growth in major markets, which include the U.S., Germany, China, India, and Brazil. Symptoms of . This can be attributed to rise in the popularity of bubble tea with black tea as a base ingredient across the globe. Facebook: quarterly number of MAU (monthly active users) worldwide 2008-2022, Quarterly smartphone market share worldwide by vendor 2009-2022, Number of apps available in leading app stores Q3 2022. By 2025, 70% of spending and 10% of volume consumption in the Tea segment will be attributable to out-of-home consumption (e.g., in bars and restaurants). Emerging countries such as China, India and Brazil growing with the CAGR of 8%, 9.5%, and 8.3% respectively. For instance, in April 2020, a bubble tea company Chatime launched oat milk-based tea such as Chatime Pearl Milk Tea and Grass Jelly Roasted Milk Tea for lactose intolerant consumers. Keep reading to discover everything weve uncovered about bubble tea. Let's assume that the daily maintenance calories for an average adult man are 2,500 kcal, and for an average adult . 7.3.9.1. Each . In addition, the companies are focusing on the growing incidences of lactose intolerance, and thus are working toward introducing lactose-free bubble milk tea options for individuals. Also, due to the strong dependency on Asian countries to source raw materials, such as tapioca balls, from Taiwan, it hinders the production process and impacts their overall operations. 12. Request a Free sample to learn more about this report. Most bubble tea recipes contain a tea base mixed with fruit or milk, to which chewy tapioca balls (known as bubbles, pearls, or boba) and fruit jelly are often added. Health Benefits Associated with Bubble Tea Consumption to Drive the Market Growth . How much is the global bubble tea market worth? These latest product ranges further act as a marketing strategy to attract a vast consumer base worldwide. According to ourlatest study, due to COVID-19 pandemic, the global Bubble Tea market size is estimated to be worth USD 8295.5 million in 2021 and is forecast to a readjusted size of USD 26870 . The market for Tea segment is expected to show a volume growth of 1.6% in 2024. Nearly everyone in Thailand enjoys drinking bubble tea, to the point that they have surpassed every other country in the amount that they drink! The boba tea trend continued to soar in its originating region and later spread its attractiveness in other western countries, such as Canada and the U.K., and is now considered a mainstay due to its unique formulation. In the United States, 95% of women have tried bubble tea as opposed to 81% of men. Tea in Kenya. Pour tea, milk, and 4 teaspoons sugar into a cocktail shaker. 30.7% of Victorian adults consumed sugar-sweetened soft drinks at least once a week. It's common for bubble tea brands to include "cha" in their names, which means "tea" in Chinese. 10. In 2018, there were over 450,000 shops selling bubble tea in China. With shops all around the world in many major cities, its easy to indulge your bubble tea craving when you want to! The key players alsorelyon product launch to improve their product portfolio and stay relevant in the global market.The key players profiled in thereport include Bobabox Limited, Bubble Tea House Company, Cuppotee, Fokus Inc., Gong Cha, Lollicup USA, Inc., Sumo's (M) SdnBhd, Ten Ren's Tea Time, The Bubble Tea Company, and Troika JC. Cassava flour itself comes from the cassava root, which is native to South America but has become a staple food in many African nations. Some of the most popular fruit flavors include strawberry, blueberry, green apple, pineapple, passion fruit, mango, lemon, watermelon, grape, peach, cantaloupe, banana, and kiwi among others. From Farmer Welfare and Supply Chain to the Latest Trends, Tea Experts Share Insights. However, excess sugar content in these drinks leading to health issues and trend of coffee consumption are expected to restrict the market growth.
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