3. The report segments the global bubble tea market based on base ingredient, flavors, component, and region. Black tea is the most consumed tea around the world. This segment does not include herbal tea, instant tea, iced tea or similar tea-derived Ready-to-Drink beverages. A. Market size and forecast, by Flavor, 2020-2028 Young people between ages 20 and 29 are interested in bubble tea. The global bubble tea market size was valued at USD 2.17 billion in 2021. 30.7% of Victorian adults consumed sugar-sweetened soft drinks at least once a week. According to the bubble tea market analysis, based on base ingredient,the black tea segment generated maximum revenue in 2019 and is expected to continue this trend throughout 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. Almost overnight bubble tea shops popped up around the world in multiple countries that had never had an interest in it before. Bubble Tea originated in Taiwan in the early 1980's at a small tea stand. Bubble tea has a milk base and includes ingredients like chewy tapioca balls, or fruit jelly and boba. 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. 6. Bubble tea can be found on every continent today, except for Antarctica, of course! However, excess sugar content in these drinks leading to health issues and trend of coffee consumption are expected to restrict the market growth. Australians drink tea and have afternoon tea and morning tea much the way the British do. In 2016, 19.4 per cent of Availability of Other Caffeinated Drinks to Impede Growth. This popular sweetened tea is made up of high-quality milk and tapioca pearls, along with fruit powder, creamer, and sweeteners. 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. "Market Intelligence that Adds Flavour to Your Success", Region : Global | Format: PDF | Report ID: FBI101564. In addition, the growing gastronomic tourism, rising number of health-conscious individuals, and increased social media influences further paved the way toward growing potential. Today, bubble tea consumption in China surpasses that of coffee and many other traditional beverages. 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. Green tea. This was attributed due to rise in the consumption of tea based everages across the world. But the most important thing to love is that its a beverage category that has grown by leaps and bounds over the past ten years or so, with seemingly no end in sight. A. The report covered all the points and was very detailed. 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". The bubble tea industry is expected to reach $3.39 billion by 2027. Thailand will emerge as a lucrative market over the forecast period with a CAGR of 8.7%. By region, North America was the most prominent regional market in 2019. Tea is one of the most popular beverages consumed worldwide. In 2020, China dominated the tea market with 78.7 billion US dollars of revenue. Furthermore, a decline in the growth of bubble tea consumption is witnessed due to strong restrictions on import and export facilities. Awareness about health issues and their relation to meat consumption has resulted in a shift towards vegan and plant-based diets. 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. We know where we will be getting business intelligence from in the future., Thank you for sending the market report and data. The incredible success of bubble tea in China since 1996. In 2020-21, of people aged 18 years and over: 6.4% consumed sugar sweetened drinks daily. Health Benefits Associated with Bubble Tea Consumption to Drive the Market Growth . 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. Various key insights presented in the report are an overview of related markets, competitive landscape, recent industry developments such as mergers & acquisitions, regulatory scenario in critical countries, and key bubble tea industry trends. The global market for organic tea is showcasing strong growth principally because of the growing knowledge regarding safer counterparts of organic products among consumers. Pearl Lemon Boba Unit 4 Building, 250 North End Rd, London SW6 1NJ, United Kingdom. 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. Published. 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. 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. 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 . Background: Bubble tea has become enormously popular in China in recent years. . Find your information in our database containing over 20,000 reports, Consumer Market A. Overview and forecasts on trending topics, Industry and market insights and forecasts, Key figures and rankings about companies and products, Consumer and brand insights and preferences in various industries, Detailed information about political and social topics, All key figures about countries and regions, Market forecast and expert KPIs for 600+ segments in 150+ countries, Insights on consumer attitudes and behavior worldwide, Business information on 60m+ public and private companies, Detailed information for 35,000+ online stores and marketplaces. Singapore market is forecasted to grow at a CAGR of 10.7%. Thank you for requesting a call back, our sales representative will get in touch with you shortly! The two most popular varieties are bubble milk tea with tapioca and bubble milk green tea with tapioca. Thailand leads in . 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. 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 . Although people of all ages frequently enjoy bubble teas across the globe, younger people tend to drink them more frequently. Background: Bubble tea, also known as boba or boba milk tea, has exploded in popularity in recent years, with the global boba market projected to reach 3.39 billion USD by the end of 2027. The size of the global Bubble Tea Market in 2019 was $2,407.6 million. Asia Pacific is expected to dominate the market during the forecast period. Modern Asian Desserts, expanded its business in the country by introducing various boba milk tea outlets. 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. It also offers a detailed analysis of the market size and growth rate for all possible market segments. That is approximately four cups of brewed coffee, 10 cans of cola or two "energy shot . 2. Interesting Facts. Thank you for contacting us, our sales representative will get in touch with you shortly! info@pearllemongroup.com. And if you have a sweet tooth, its SO GOOD. If you have an adventurous palette, we highly recommend trying as many different flavors as you can to find the one that will be your favorite! 84% of the tea that is consumed is black tea. Australia . Sometimes they are blended with ice to give them a more slushy-like consistency. Save my name and email in this browser for the next time I comment. By 2025, 70% of spending and 10% of volume consumption in the Tea . This is a list of countries ordered by annual per capita consumption of tea, as of 2016. https://www.fortunebusinessinsights.com/industry-reports/bubble-tea-market-101564, Yummy Town (Cayman) Holdings Corporation (Happy Lemon) (Taiwan), Granular Research on Specified Regions or Segments, Companies Profiled based on User Requirement, Broader Insights Pertaining to a Specific Segment or Region, Breaking Down Competitive Landscape as per Your Requirement, Other Specific Requirement on Customization. The forecast period in the global bubble tea market report is 2019-2027. 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. 7.1% consumed diet drinks daily. One cup of tea is assumed to contain 2 grams of tea. Revenue in the Tea segment amounts to US$1.40bn in 2023. Kenya is one of the main global tea exporters and as a result, it is no surprise that Kenyans love their tea, in particular black tea, though in 2022, fruit/herbal tea registered the highest current value growth. The option to customize your bubble tea, availability at most cafes, restaurants, convenience, and grocery stores as well as the variety offered has contributed to the market growth. At what CAGR is the bubble tea market projected to grow in the forecast period (2022-2029)? The United States and Australia were both introduced to bubble tea in the mid-1990s, and it has been growing in popularity ever since. Meanwhile, Philippinos drink five cups of this tea per month. A. Looking forward to work together on similar projects, We appreciate the teamwork and efficiency for such an exhaustive and comprehensive report. 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. Key players in the global bubble tea market are focusing on releasing novel and unique flavors of bubble tea. FB : Beverages| Pages: 261 | Author(s) : Vaibhav S , Roshan D, Single User License, Five User License & Enterprise User License. Increasing Inclination of Consumers toward Versatile Teas with Innovative Bold Flavors is a Prominent Trend. Whether youre feeling something sweet, fruity, and refreshing, something soothing and tea-like, or a slushy smoothie like-drink, bubble tea has you covered. 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. These organizations are focusing on product innovation and targeting the millennial consumer as the group is known for its willingness to experiment with new flavors. It includes flavor variants such as lychee, mango, passion fruit, peach, plum, strawberry, avocado, banana, grape, kiwi, lemon, and others. The availability of different types of milk tea offers numerous options for consumers to enjoy. Based on our analysis, the global market exhibited a slower growth of 2.76% in 2020 as compared to 2019. 16. 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. If youre looking for a sweet, refreshing drink that doesnt compromise on flavor or quality, bubble tea is the answer. Tartrazine Market Trend: Global tartrazine market is projected to reach a valuation of US$ 120 Mn in 2022, with demand growing at a 7.0% CAGR over the forecast period. Tapioca balls or "pearls" are often added to the concoction as well. There are six official types of bubble tea. 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. Pour into a glass, and add tapioca. In the Tea segment, volume is expected to amount to 18.6mkg by 2025. Bubble tea is a sweet, delicious drink typically made from a tea base that is then mixed with either milk or fruit flavoring. It slowly spread throughout Asia before gaining popularity in the U.S. and across the globe. By sugar content, reduced sugar/sugar-free category will gain traction over the forecast period. Consumer Shift toward Healthy Alternatives to Favor Growth. 4364..55.011 - Australian Health Survey: Consumption of added sugars, 2011-12. 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 (%) . During the late 1980s and into the 1990s, bubble tea was only consumed in a select few countries including Taiwan, Hong Kong, China, and Japan. Among participants, 647 (88%) consumed less . Many Thai people drink bubble tea daily, and in many cases may drink multiple cups per day. Overall, though tea registered. Each . If you love bubble tea and are looking for a make your own bubble tea kit, this is the place! The global COVID-19 pandemic has been unprecedented and staggering, with bubble tea experiencing lower-than-anticipated demand . Drum To Hopper Blends Premix Market Forecast: The global drum to hopper blends Premix market is expected to reach a valuation of US$ 752.1 Mn in 2022, with demand increasing at a CAGR of 7.4% over the assessment period. Bubble tea is made by adding fruit syrup or milk to (usually cold) tea and then shaking the . 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). 87% of American millennials drink tea, including bubble tea. Coffee shop. In Asia, however, it is equally popular among men and women and is seen as a cultural phenomenon. Other players operating in the market are Boba Box Limited, Fokus Inc., Sumos Sdn Bhd, Troika J.C. (Qbubble), and Boba Tea Company. These latest product ranges further act as a marketing strategy to attract a vast consumer base worldwide. Clicking on the following button will update the content below. 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%.. European countries are just starting to understand the bubble tea craze, and with new dessert products in the making, the only way for this industry to go is up. 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. One concession owner became popular with her . Methods: Self-report questionnaires were used to assess bubble tea consumption and mental status. In addition, due to the presence of artificial preservatives in bubble tea, consumers are changing their preference toward organic beverages, which hampers the growth of the global bubble tea market. 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 global market is projected to reach US$ 194.7 Bn by 2032. Request Now ! 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. One kilogram therefore represents 500 cup equivalents. However, since the ease of lockdowns, governments have proposed several initiatives and strategies to help the companies in recovering the losses across the globe. As of December 2018, GrabFood's bubble tea network encompasses over 1,500 brands with 4,000 outlets throughout . 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. 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 shops all around the world in many major cities, its easy to indulge your bubble tea craving when you want to! bubble tea popularity statistics singapore; how many bubble tea brands in singapore; Bubble Tea Popularity Statistics Singapore . The value of its market is estimated to be $5.2 billion. Bubble milk tea has a strong market potential as it offers various types and flavors of boba teas, such as fruit-flavored, green jasmine, and black tea-based milk tea, across the globe. What may surprise you though is the amount of sugar! We selected the top 40 popular menu items from three of the most commonly used OFD applications in 2021. Since then, however, bubble tea has expanded across the rest of Asia, and there was a sudden explosion of popularity during 2018, particularly in Singapore. 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. page 1 . For example, according to . Bubble tea shops, or Boba tea as it is frequently called in America, can be found in almost every major city across the country. 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. The article shared insights on the bubble tea craze in Southeast Asia. In 2019, tea revenue globally is about US$214,761m and is expected to grow each year by 6.9% until 2023. Bubble tea consumption statistics show that Thais drink six bubble teas per month. South America is anticipated to grow in terms of sales volume of the products in the coming years. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years. 11.2% of Victorian adults consume sugar sweetened beverages daily. USD 1,195. (2.Americans rank 25th for coffee consumption per capita, with an average consumption of 4.2 kg per person per year. The current valuation of the market is US$ 2.50 billion in 2022. The industry shows no signs of slowing down, and in fact, appears to be growing exponentially with every passing year.
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