As per the latest report by FMI, the U.S. bubble tea market is expected to register a 12.4% CAGR during the forecast period. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA. Theory seemed to meet reality . 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. 10. Art & Craft. The prevalence of lifestyle disorders such as obesity and diabetes associated with the hectic lifestyle of consumers has nudged them to shift toward healthy drinks, such as ginger tea and boba teas, due to their easy customization. Whether youre feeling something sweet, fruity, and refreshing, something soothing and tea-like, or a slushy smoothie like-drink, bubble tea has you covered. The value of its market is estimated to be $5.2 billion. Changes in consumers tastes and preferences have fostered growth for the bubble tea market over the forecast period. Until 2025, the tea market in Philippines is forecast to reach 109.79 million USD (in retail prices), thus increasing at a CAGR of 6.70% per annum for the period 2020-2025. When you look at the marketing for bubble tea, the numbers make sense. As of December 2018, GrabFood's bubble tea network encompasses over 1,500 brands with 4,000 outlets throughout . Companies, such as Lollicup U.S.A. Inc., Gong Cha, Chatime, and others, have invested in research and development activities to offer new variants of tea for a growing market. 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. Adults' total beverage consumption drops steadily with age. 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. 1 2 3 8. Your email address will not be published. By the toppings segment, pearls are anticipated to grow at a prolific CAGR of 10.3% with more than 35% of the global market share. While bubble tea is enjoyed by people of all ages, it tends to be a global favorite among younger people. Start reading instantly ,This Report and over 19,845+ more Reports, Available with Avenue Library, T&C*, WRITE AN EMAIL [email protected], U.S. - Canada :+1-800-792-5285 (Toll-free) Int'l : +1-503-894-6022 UK : + 44-845-528-1300. FB : Beverages| Pages: 261 | Author(s) : Vaibhav S , Roshan D, Single User License, Five User License & Enterprise User License. More Insights into the Bubble Tea Market Report. 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: [email protected] all Reports: https://www.futuremarketinsights.com/reportsLinkedIn|Twitter|Blogs. By region, North America was the most prominent regional market in 2019. 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. However, the green tea segment is expected to grow at the highest CAGR throughout the forecast period, owing to growth innumber of health conscious consumers worldwide. Background: Bubble tea has become enormously popular in China in recent years. Insights. Sometimes they are blended with ice to give them a more slushy-like consistency. Which region held the highest share in the market? 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. Book your free consultation and let our research experts help you with your needs/problems. The report was very accurate and as per my requirements. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years. Bubble milk teas surge in popularity is mainly attributed to taste, affordability, and the rising reinvention of the basic tea recipe. An Infographic Representation of Bubble Tea Market, To get information on various segments, share your queries with us. 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. Very satisfied with the overall report as it has helped me to build strategies for my business, This is regarding the recent report I bought from Fortune Business insights. 9. Future Market Insights Global and Consulting Pvt. 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. 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 . Versatility in flavor, health benefits, and social media trends drive the market. The major countries in each region are mapped according to their revenue contribution to the global bubble tea market. Grab also reported that on average, Southeast Asians drink an average of four cups of pearl milk tea per person per month. Bubble tea has a milk base and includes ingredients like chewy tapioca balls, or fruit jelly and boba. The chocolate segment is projected to have the fastest growth in the coming years due to increasing demand for chocolate-based drinks from every age group. The global bubble tea market size was valued at USD 2.17 billion in 2021. According to a recent CLSA survey of consumers, 94% of those aged between 20 and 29 bought boba tea in the last three months, reported Bloomberg (June 24). . This beverage has undergone a few waves of popularity in Singapore. Although there are plenty of bubble tea flavors to choose from, fruit teas tend to be the most popular. Among participants, 647 (88%) consumed less . Bubble tea has a sweet, sour, and tangy taste that varies depending on the type of fruit used. 87% of American millennials drink tea, including bubble tea. The two most popular varieties are bubble milk tea with tapioca and bubble milk green tea with tapioca. 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. 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. The Asia Pacific market held the largest share and was valued at USD 0.90 billion in 2021. 10. Black tea is the most consumed tea around the world. Worldwide Tea Statistics. There are many teas, they can vary in . Boba tea, or "bubble tea," has been around since the late 1980s in Taiwan. 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. 9. It comes with the additional cost of $2500.00 contact sales. Originating in Taiwan, the drink typically consists of tea, milk/cream, and sugar accompanied by tapioca pearls. This can be attributed to the rise in awareness regarding healthy lifestyle and higher adoption of healthy beverages by health-conscious consumers. By component, it is classified into flavor, creamer, sweetener, liquid, tapioca pearls, and others. What may surprise you though is the amount of sugar! 1.In 2019, 64% of Americans aged 18 and over drank coffee every day. Thailand leads in . There was a 3,000% increase in the amount of bubble tea orders in Southeast Asia in 2018. Tea in Kenya. 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. 6. 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. Bubble tea is extremely high in calories. Bubble tea is also known as pearl milk tea. By base ingredient, it is divided into black tea, green tea, oolong tea, and white tea. The key players in the industry receiving high levels of popularity and response from customers are franchising their businesses into different locations. The consumption of organic tea rose by 1.06 million gallons in 2018. 16. [email protected]. In 2016, 19.4 per cent of Tea is the second most popular drink in the world, with water at first place. According to NCBI, healthy and natural ingredients such as green tea help in preventing weight gain and also in inducing weight loss when consumed regularly. Alcoholic Tea Market size is valued at USD 1,958.73 billion by 2028 and is expected to grow at a compound annual rate of 7.00% in the forecast period . In addition, aggressive advertisements and celebrity end orsements have also helped the global market to pave its way toward growth. The industry shows no signs of slowing down, and in fact, appears to be growing exponentially with every passing year. Aug 16, 2022, 1:25 PM SGT. They are made from cassava starch, a common ingredient in Brazilian culture, and they take time, effort, and skill to make properly. More people are discovering and enjoying bubble tea every year, however, so these figures may soon change as people age and continue to enjoy their favorite drink. Fruit-flavored bubble teas account for the largest percentage of bubble tea consumed at 37%. In the Philippines alone, orders increased by 3,500 percent from June to December 2018. In the United States, 95% of women have tried bubble tea versus 81% of males. 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. Other players operating in the market are Boba Box Limited, Fokus Inc., Sumos Sdn Bhd, Troika J.C. (Qbubble), and Boba Tea Company. Countries such as Vietnam and Taiwan are projected to have the largest sales. Bubble milk tea has emerged as a cultural icon for the world and symbolizes Taiwans food innovation to promote its existence amidst the food service industry. We use cookies to enhance your experience. The global COVID-19 pandemic has been unprecedented and staggering, with bubble tea experiencing lower-than-anticipated demand . Almost overnight bubble tea shops popped up around the world in multiple countries that had never had an interest in it before. Bubble Tea Popularity Statistics Singapore; by palmebre Published: July 20, 2021 (2 days ago) Category. This is a very good piece of work and will be very helpful to us going forward. Table 1 shows the frequency of bubble tea consumption, and the prevalence of symptoms of depression and anxiety according to the covariates age, gender, sociodemographic and lifestyle factors. The segment is expected to display an 11.4% CAGR, and account for more than 38% of the global market share. How much sugar was consumed? It should be no surprise then that sugar is a primary ingredient in the drink. 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 . The market is anticipated to be valued at US$ 46.0 Mn in 2032. 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. Pour tea, milk, and 4 teaspoons sugar into a cocktail shaker. This means, market totals are not comparable to published data from prior years. One kilogram therefore represents 500 cup equivalents. Another user, Yilian Fengyue Xian, said she had bought four cups of bubble tea after 76 days of being under lockdown in what she called "revenge bubble tea drinking". Increased demand for bubble tea has been fuelled by pearl milk tea, which is becoming increasingly popular as one of the healthier alternatives to carbonated beverages. India is currently 1-0 up in the series, which has seen Indian spinners dominating both the tests in Nagpur and Delhi. All rights reserved. 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. Bubble tea brands expected to produce novel and unique products over the forecast period. Rising consumption of tea and coffee as nootropic drinks among students and working-class population is a key factor for the market growth. There are 250 different flavors of bubble tea. Get in touch with us. Teenagers and people in their 20s consistently account for the highest consumer percentage of bubble teas. Pearl Lemon Boba Unit 4 Building, 250 North End Rd, London SW6 1NJ, United Kingdom. The mean age of study participants was 24 years and the age range was 18 or older to younger than 30 years. Looking forward to work together on similar projects, We appreciate the teamwork and efficiency for such an exhaustive and comprehensive report. Increasing Inclination of Consumers toward Versatile Teas with Innovative Bold Flavors is a Prominent Trend. Global Bubble Tea Market Dynamics, Regional Analysis, Segmentation, Competitive Landscape, COVID-19 Impact, Recent Developments and SWOT Analysis of Key Graph. Chatime, Gong Cha, Coco Fresh Tea & Juice, and Lollicup USA, Inc. are the leading players in the market. 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. Now, there are bubble tea shops everywhere, and many companies have started to offer other bubble tea treats in the form of desserts to expand the marketplace. Chocolate flavored milk tea is tremendously popular in which chocolate powder is blended with milk to strengthen its flavor. The region is witnessing a cross-cultural food consumption trend, and the growing health and wellness approach is also expected to boost the growth. 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 . Clicking on the following button will update the content below. A. Bubble tea shops, or Boba tea as it is frequently called in America, can be found in almost every major city across the country. 10. The appearance of the finished drink is what led to its name. The at-home market, also called off-trade market, covers all retail sales via super- and hypermarkets, convenience stores or similar sales channels. Bubble tea is a mix of milk, tea, and fruit juice with added bubbly-looking toppings (like tapioca balls). The demand for bubble tea is predicted to grow at an impressive rate. As per the report, sales will increase at a 4.2% CAGR over the forecast period, reaching US$ 354.6 Mn by 2032. That is approximately four cups of brewed coffee, 10 cans of cola or two "energy shot . 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 . 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. The global bubble teamarket holds a substantial scope for growthduring the forecast period. For example, according to . A. 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. Thailand will emerge as a lucrative market over the forecast period with a CAGR of 8.7%. The price for bubble tea depends on where you get it. Over of the bubble tea enjoyed around the world is fruit-flavored. 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. Most other Southeastern Asian countries drink three cups monthly on average. However, since the ease of lockdowns, governments have proposed several initiatives and strategies to help the companies in recovering the losses across the globe. Nigeria, specifically, has become a hub for cassava production. I hope you learned something from it, even if it was that you should lay off the bubble tea because really, you probably have had enough of that stuff by now. If youre looking for a sweet, refreshing drink that doesnt compromise on flavor or quality, bubble tea is the answer. What are the key factors driving the market? 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. In 2020, China dominated the tea market with 78.7 billion US dollars of revenue. Green tea has shown long-term energy inducing properties and has a positive effect on the regulation of body weight. The Middle East & Africa showcases a slower growth as pearl milk tea is consumed as a social drink or as a gesture of hospitality. Jan 2023. December 17, 2022. There are many varieties of the drink with a wide range of ingredients. Bubble tea is a sweet, delicious drink typically made from a tea base that is then mixed with either milk or fruit flavoring. Additionally, due to Australia's climate, tea is able to be grown and produced in northern Australia. Today, bubble tea consumption in China surpasses that of coffee and many other traditional beverages. Symptoms of . The availability of different types of milk tea offers numerous options for consumers to enjoy. 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. Toss in the pearl tapioca. 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. 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. 12. Looking forward to work together in the future, It has been a delightful experience working with you guys. A. Bubble tea is a beverage originating from Taiwan comprising tea with fruit syrup or milk added, and then shaken. By continuing to visit this site you agree to our use of cookies . Statista. All these aspects necessitate the manufacturers to develop premium quality teas by keeping the consumer demands in mind. 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. The bubble tea market was valued at $2.4 billion in 2019 and is estimated to reach $4.3 billion by 2027, registering a CAGR of 7.80% from 2020 to 2027. Tea stands were set up in front of the schools and would compete for business with the best selling tea. Contact Sales for Further Assistance in Purchasing this Report @ https://www.futuremarketinsights.com/checkout/12310. Millennial Tea Drinking Stats - Tea continues to gain market share in surprising areas. Statista. Essential Facts. And if youre looking for all the facts and figures that back up our claim, you have this blog post. [1] a more convenient consumption option, compared with hot cereals, which can require the addition of boiling water or milk. Boost your students confidence by putting their results next to the public's Today, bubble tea consumption in China surpasses that of coffee and many other traditional beverages. Over 90% of the tea consumed is Black Tea, about 5% Green Tea, 1% Oolong Tea and the balance flavored, scented, or mixed teas. The market is expected to grow at a CAGR of 7.40%, during the forecast period. 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. Rank Country/Region Tea consumption 1 Turkey: 3.16 kg (6.96 lb) . Asia Pacific is expected to dominate the market during the forecast period. Per Capita Global Tea Consumption Patterns Americans consume more than 50 billion servings of tea a year, nearly 85% of which is iced. Consumers are shifting toward natural and organic food and beverage products, which is one of the major factors that would help in the growth of this segment in the market. It is made using green tea, white tea, black tea, or oolong tea. 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 Mayo Clinic state that up to 400 mg of caffeine a day is probably safe for most healthy adults. Cook for about 20 minutes. This was attributed due to rise in the consumption of tea based everages across the world. The global bubble tea market size was valued at USD 2.17 billion in 2021. Australia . Bubble Tea is a famous non-alcoholic beverage drink that first . Europe is expected to witness significant growth during the forecast period of 2022 to 2029 because of the increase in the demand for healthy hot beverages in the region. Bubble tea first appeared in Thailand ten years ago, but since has gone out of market trend, staged a strong comeback, and established itself in the region. 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. Asia Pacific Bubble Tea Market Size, 2021 (USD Billion), To get more information on the regional analysis of this market, Request a Free sample. Press release from: Analytics Market Research. That means 24 countries have higher consumption rates that are worth targeting. 8. Your email address will not be published. Bubble tea is drunk by millions of people around the world every single day, even in countries that you might not expect! In this era, the growing consumer preferences for products depend on various factors such as choice of taste, price, brand, and location accessibility. The size of the global Bubble Tea Market in 2019 was $2,407.6 million. Bubble Tea Consumption Statistics (2017-2021) Vs Market Estimations (2022-2032) During 2017-2021, the global bubble tea target market expanded at a value CAGR of 6.3%.. Green tea. (World Atlas)3.The USA ranks 11th among the countries with the highest caffeine consumption, with a rate of 200 mg per person per day. One cup of tea is assumed to contain 2 grams of tea. The black tea segment is expected to be the leading segment in the global market. In addition, the growing gastronomic tourism, rising number of health-conscious individuals, and increased social media influences further paved the way toward growing potential. 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. Save my name and email in this browser for the next time I comment. This is likely due to its naturally sweet flavor and all of the different varieties of teas that are available. Gain competitive intelligence about market leaders; Track key industry trends, opportunities and threats; Inform your marketing, brand, strategy and market development, sales and supply functions Bubble tea can be found in over 30 countries. 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.
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