Thailand will emerge as a lucrative market over the forecast period with a CAGR of 8.7%. The growing interest of consumers in innovative beverages with bold flavors and their willingness to experiment with various flavors is captivating the consumers attention, which contributes to fueling the market growth. Bubble tea is a sweet, delicious drink typically made from a tea base that is then mixed with either milk or fruit flavoring. A popular version of bubble tea, known as Thai iced tea originated in Thailand in the 1800s, and when bubble tea was invented people began adding tapioca balls to it. Introduced to China in the early 1990s, it quickly became one of the most popular drinks in the nation. Your email address will not be published. So, if we live in a postcode that is all expats, we would assume a 70% chance of a bubble tea shop being located there. The key players in the industry receiving high levels of popularity and response from customers are franchising their businesses into different locations. Each . Symptoms of . In Asia, however, it is equally popular among men and women and is seen as a cultural phenomenon. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); We're Soocial, a leading branding agency with a passion for creating memorable names and internationally-renowned brands. Sunset Yellow FCF Market Sales: The sunset yellow FCF sales are slated to grow at a CAGR of 6.25% between 2022 and 2032, totaling a market valuation of US$ 150 Mn by 2032. The bright colors and availability of sweet and fruity flavors especially appeal to children . Today, millennials, zennials, and gen z account for the vast majority of the countrys bubble tea consumption. And if youre looking for all the facts and figures that back up our claim, you have this blog post. Stir until the sugar has dissolved and the milk is well mixed in. The incredible success of bubble tea in China since 1996. Key players in the global bubble tea market are focusing on releasing novel and unique flavors of bubble tea. According to the Indian Tea Association 2020, tea price has risen by 25%-40% on an average due to lockdown in the tea growing regions, leading to a drop in crop size along with disruptions in transportation and logistics. Originally created in Taiwan in the 1980s, bubble tea has quickly exploded in popularity. Bakery Products Market Share: The global bakery products market is estimated to reach US$ 235 Mn in 2022. Ltd. Today, bubble tea consumption in China surpasses that of coffee and many other traditional beverages. The market is expected to grow annually by 2.61% (CAGR 2023-2025). In its latest report, FMI offers an unbiased analysis of the global bubble tea, providing historical data from 2016 to 2020 and forecast statistics for the period 2021-to 2031. The mean age of study participants was 24 years and the age range was 18 or older to younger than 30 years. Originating in Taiwan, the drink typically consists of tea, milk/cream, and sugar accompanied by tapioca pearls. Availability of Other Caffeinated Drinks to Impede Growth. 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. As per the report, sales will increase at a 4.2% CAGR over the forecast period, reaching US$ 354.6 Mn by 2032. 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. Market size and forecast, by Flavor, 2020-2028 Required fields are marked *. By region, North America was the most prominent regional market in 2019. 14. Global Bubble Tea Market Dynamics, Regional Analysis, Segmentation, Competitive Landscape, COVID-19 Impact, Recent Developments and SWOT Analysis of Key 03 Locally called "po po ch," Singapore has sold bubble tea since 1992. The report covered all the points and was very detailed. 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. China is a major bubble tea manufacturer. 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. Bubble tea is a beverage originating from Taiwan comprising tea with fruit syrup or milk added, and then shaken. Increasing Inclination of Consumers toward Versatile Teas with Innovative Bold Flavors is a Prominent Trend. This segment does not include herbal tea, instant tea, iced tea or similar tea-derived Ready-to-Drink beverages. All these aspects necessitate the manufacturers to develop premium quality teas by keeping the consumer demands in mind. About | Privacy Policy |Contact | Advertise | Support. What may surprise you though is the amount of sugar! If you love bubble tea and are looking for a make your own bubble tea kit, this is the place! The U.S. market is anticipated to register a prolific CAGR of 12.4% over the forecast period. For instance, the base ingredients required for the preparation of black or green tea are exported from India, but due to the imposed regulations, companies were unable to process the demands of the manufacturers. With 38 grams per 16oz beverage, bubble tea should be enjoyed in moderation. According to a recent consumer study, 94% of people between ages 20 and 29 have purchased bubble tea within the last 3 months. What are the key factors driving the market? This was attributed due to rise in the consumption of tea based everages across the world. By base ingredient, it is divided into black tea, green tea, oolong tea, and white tea. Request Now ! Bubble Tea Market Outlook (2022-2032) [324 Pages Report] The global bubble tea market is projected to have a rapid-paced CAGR of 8.8% during the forecast period. 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. 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. The Market for Bubble Tea in North America to be the Most Dominant & Fastest Growing. However, Europeis expected to grow with the highest CAGR throughout the forecast period, owing toaggressive advertising and celebrity brand endorsement and increasein the awareness of bubble tea in theregion. Consumption of black tea is highly promoted due to its strong antioxidant, anti-aging, and anti-diabetic properties. Whats your favorite bubble tea base to start with? Despite the burgeoning demand for such innovative tea beverages, the wide availability of other caffeinated and conventional drinks, such as coffee and chocolate, coupled with the prominent coffee consumption trends in Western countries, poses a threat to market growth. It's common for bubble tea brands to include "cha" in their names, which means "tea" in Chinese. Rinse, drain, and refrigerate until chilled. But did you know that there are six different types of bubble tea? 2. Press release from: Analytics Market Research. DUBAI, U.A.E., Aug. 12, 2020 /PRNewswire/ -- The bubble tea market is expected to rise at a year-on-year growth rate of 8% from 2020-2030, opines Future Market Insights in its recent report . 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. 11. The drink became popular during the 1990s, just in time for millennials to develop a taste for it. After decades of slowly increasing in popularity, the big bubble tea boom happened in 2018. According to the Food and Agriculture Organization (FAO) of the United Nations, Nigeria is the largest exporter of cassava at 21% of the worlds amount. 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 . Apart from the variety of flavors available, one of the primary elements fueling the expansion of bubble tea Industry is the health benefits. Chocolate flavored milk tea is tremendously popular in which chocolate powder is blended with milk to strengthen its flavor. 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. The global bubble tea market size was valued at USD 2.17 billion in 2021. Get in touch with us. How much sugar was consumed? 7.1% consumed diet drinks daily. This is a very good piece of work and will be very helpful to us going forward. From Farmer Welfare and Supply Chain to the Latest Trends, Tea Experts Share Insights. Aug 16, 2022, 1:25 PM SGT. Over 95% of females in the united states have tried bubble tea, while 81% of males . In 2016, 19.4 per cent of 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. According to the CXOs, Europe is projected to register significant growth as compared to Asia-Pacific and North America due to rapid urbanization, rise in consumption of healthy beverages, and low price of bubble tea. A. Tea is an aromatic beverage derived . Quick Facts. 7. This can be attributed to change in preference of consumers toward healthy beverages and better taste. A study conducted by the Tea Board of India revealed some interesting consumption patterns among Indian tea drinkers: About 80% tea drinkers in India consume it either with or before breakfast . Such initiatives further support the immense growth opportunities for the companies. The global market for organic tea is showcasing strong growth principally because of the growing knowledge regarding safer counterparts of organic products among consumers. As more and more countries discover the delicacy that is bubble tea, these figures are sure to continue growing. Toss in the pearl tapioca. While bubble tea is enjoyed by people of all ages, it tends to be a global favorite among younger people. The value of its market is estimated to be $5.2 billion. 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. The Tea segment in Australia is projected to grow by 2.61% (2023-2025) resulting in a market volume of US$1.47bn in 2025. . Future Market Insights Global and Consulting Pvt. The other players operating in the global bubble tea market are Bubble Tea Supply Inc., ChaTime, CoCo Fresh, Quickly, Kung Fu Tea, BobaLoca, Happylemon, Share Tea, T Bun International, Fanale Drinks, Grand Chainly, and Huey-Yuhe Enterprise. When you look at the marketing for bubble tea, the numbers make sense. We are happy with the professionalism of your in-house research team as well as the quality of your research reports. In the Tea segment, volume is expected to amount to 18.6mkg by 2025. Were big enough to handle massive projects, and yet also nimble enough to come up with names on demand that hit every time. Some of the most popular fruit flavors include strawberry, blueberry, green apple, pineapple, passion fruit, mango, lemon, watermelon, grape, peach, cantaloupe, banana, and kiwi among others. Changes in consumers tastes and preferences have fostered growth for the bubble tea market over the forecast period. Against this backdrop, the market valuation is projected to reach US$ 245 Mn by 2032. Thank you!, I recommend Fortune Business Insights for their honesty and flexibility. Followed by black tea, the green tea segment is expected to hold a major percentage of the market share. CXOs from the leading companies perceive that product innovation, development of newer flavor, and use of organic preservatives & color in the manufacturing process are the major areas of growth for the bubble tea market. The segment will depict a robust 11.8% CAGR and account for more than 26% of the market share. In this era, the growing consumer preferences for products depend on various factors such as choice of taste, price, brand, and location accessibility. 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 (%) . Art & Craft. Among various flavors, fruit flavor is more popular, and this segment dominated the market in 2019. Tea is the second most popular drink in the world, with water at first place. 10. In this article, I'll be sharing detailed statistics on bubble tea consumption - so if you're as curious as I am about this popular beverage, read on! 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. The appearance of the finished drink is what led to its name. Tea consumption per capita in the UK is 1.3 kg for 2019. Bubble tea shops, or Boba tea as it is frequently called in America, can be found in almost every major city across the country. Due to social media, bloggers documenting their bubble tea experience, and other factors, bubble tea stores continue to flourish and expand their offerings in this region. In-depth analysis and the bubble tea market size and segmentation assists in determining the prevailing bubble tea market opportunities. Extruding the tapioca into these small balls is difficult work. Moreover, European and other Scandinavian countries are prominent followers of tea and coffee cultures, and thus are keenly interested in experimenting with new types of fruity flavors, herbal, and pearl milk teas. This, along with the rise in dairy alternatives is fueling market growth of bubble tea in the U.S. China bubble tea market is forecasted to grow at a 7.5% CAGR. The bubble tea market in Thailand is predicted to register an 8.7% CAGR. 8. Revenue in the Tea segment amounts to US$1.40bn in 2023. A. Published. Health beneficial attributes such as low-fat, low-calorie content, and presence of anti-inflammatory properties are the key driving factors of the market. The closure of Shanghai . The 30 Tea Drinkers vs. Coffee Drinkers Statistics. Europe also witnessed growth in the pearl milk tea market around the same time as other Asian countries. 10. The Middle East & Africa showcases a slower growth as pearl milk tea is consumed as a social drink or as a gesture of hospitality. In relation to total population figures, per person revenues of US$53.14 are generated in 2023. The forecast period in the global bubble tea market report is 2019-2027. Synthetic Food Colors Market Outlook: The global synthetic food colors market size is estimated to be valued at US$ 590 Mn in 2022 and is further expected to grow at a CAGR of 6% between 2022 and 2032, surpassing a valuation of US$ 1,066 Mn by the end of 2032. Thank you Fortune Business Insights for your efforts and prompt response, I had a great experience working with Fortune Business Insights. 4. 2023 Allied Market Research. Apart from the U.S. and Asian countries, the trend of milk tea is also extensively growing amongst individuals residing in the Middle East and Africa. Directly accessible data for 170 industries from 50 countries and over 1 million facts: Get quick analyses with our professional research service. Unilever (Lipton), Associated British Foods (Twinings) and Tata Global Beverages (Tetley) are globally the most important players by revenue. Not only that they were very responsive and dealt with all my questions very quickly but they also responded honestly and flexibly to the detailed requests from us in preparing the research report. The global organic tea market size was USD 820.8 million in 2019 and it is projected to reach USD 1,918.7 million by 2027, exhibiting a CAGR of 11.2% during the forecast period. The bubble tea market in Singapore has a long history and is expected to exhibit a prosperous future with a CAGR of 10.7% over the forecast period. I would also like to thank the back end team for offering a continuous support and stitching together a report that is so comprehensive and exhaustive, Please pass on our sincere thanks to the whole team at Fortune Business Insights. By sugar content, reduced sugar/sugar-free category will gain traction over the forecast period. In 2019, the black tea segment accounted for more than half of the share in the total bubble tea market and is expected to grow at a CAGR of 7.50% throughout the forecast period. This is a list of countries ordered by annual per capita consumption of tea, as of 2016. Theory seemed to meet reality . 5. drinking tea; and the expansion of new products and flavourings, such as ready-to-drink tea, premium tea, and herbal and fruit fusions.15-19 In addition, demand for green tea is expected to outpace demand for black tea.4,12,19 The considerable expansion of sustainable tea products is also worth noting. This can be attributed to the availability of various options such as combination of various liquid flavors and syrups. Let's assume that the daily maintenance calories for an average adult man are 2,500 kcal, and for an average adult . This means, market totals are not comparable to published data from prior years. 12. South America is anticipated to grow in terms of sales volume of the products in the coming years. 87% of American millennials drink tea, including bubble tea. The chewy tapioca balls or pearls are undoubtedly the stars of any bubble tea drink. Tapioca pearls are made from cassava flour, of which Nigeria is the worlds largest exporter (21%). Frustrated customers have to remember that the tapioca balls arent just an inexpensive filler; theyre an integral part of what makes bubble tea unique and fun. Asia-Pacific (APAC) dominates the bubble tea market because of the high consumption of the bubble tea within the region. In 2018, bubble tea made a 3,000 . Aug 24, 2022 03:14pm. However, the consumption of tea is not as prominent as the popularity of coffee in South American countries such as Argentina and Brazil. 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. Teenagers and people in their 20s consistently account for the highest consumer percentage of bubble teas. "Market Intelligence that Adds Flavour to Your Success", Region : Global | Format: PDF | Report ID: FBI101564. Tea is one of the most popular beverages consumed worldwide. Read More . Versatility in flavor, health benefits, and social media trends drive the market. Which region held the highest share in the market? Remarkable job and great efforts by your research team. We use cookies to enhance your experience. Industrial Alcohol Market Volume: The global industrial alcohol market size is set to be valued at US$ 110.3 Bn in 2022 and it is expected to grow at a CAGR of 7.6% from 2022 to 2032. The segment is expected to display an 11.4% CAGR, and account for more than 38% of the global market share. 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. The manufacturers or entrepreneurs in the boba tea industry are venturing upon the launch of their own restaurants/cafes to attract consumers and fortify their market presence. Future Market Insights Inc.Christiana Corporate,200 Continental Drive,Suite 401, Newark,Delaware - 19713, USAT: +1-845-579-5705Report: https://www.futuremarketinsights.com/reports/bubble-tea-marketFor Sales Enquiries: sales@futuremarketinsights.comBrowse all Reports: https://www.futuremarketinsights.com/reportsLinkedIn|Twitter|Blogs. Future Market Insights Global and Consulting Pvt. Fortune Business Insights says that the global market size was USD 2.17 billion in 2021 and is projected to reach USD 3.78 billion by 2029. 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. We selected the top 40 popular menu items from three of the most commonly used OFD applications in 2021. 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.