For instance, in August 2021, according to a study by the Business Times Newspaper, Southeast Asia spent around USD 3.7 billion on launching milk tea and other similar new drinks, owing to the ever-growing demand from youth. Such initiatives further support the immense growth opportunities for the companies. Cassava flour itself comes from the cassava root, which is native to South America but has become a staple food in many African nations. a more convenient consumption option, compared with hot cereals, which can require the addition of boiling water or milk. 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. 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. . However, the consumption of tea is not as prominent as the popularity of coffee in South American countries such as Argentina and Brazil. Global Bubble Tea Market Dynamics, Regional Analysis, Segmentation, Competitive Landscape, COVID-19 Impact, Recent Developments and SWOT Analysis of Key Based on the distribution channel, online retailing is expected to exhibit a CAGR of 11.9%. Nevertheless, manufacturers are trying to introduce new beverage options, such as bubble milk tea, in the market. 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. Malaysia Coffee & Tea Reports: Our 2023 Malaysia report include trends, statistics, opportunities, sales data, market share, segmentation projections on the Coffee & Tea market.
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. 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. Bubble tea typically sells for about $3 to $5 for a 16- to 20-ounce serving. Ask an Analyst@ https://www.futuremarketinsights.com/ask-question/rep-gb-12310, Explore FMIs Extensive Coverage on Food and Beverage Domain. The industry shows no signs of slowing down, and in fact, appears to be growing exponentially with every passing year. Bubble Tea originated in Taiwan in the early 1980's at a small tea stand. The ICC World Test Championship final will be played in The Oval, London from June 7 to 11, where the conditions are pacer-friendly. Followed by Asia Pacific, the North America bubble tea market share emerged to be the second-largest and is likely to maintain its position throughout the forecast period. FB : Beverages| Pages: 261 | Author(s) : Vaibhav S , Roshan D, Single User License, Five User License & Enterprise User License. Bakery Products Market Share: The global bakery products market is estimated to reach US$ 235 Mn in 2022. 15. Originally created in Taiwan in the 1980s, bubble tea has quickly exploded in popularity. Bubble tea is also known as pearl milk tea. 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. 1 2 3 8. Since our launch, weve worked on more than 1,000 projects for clients around the world. October 26, 2021 13:00 ET | Source: Fortune Business Insights. Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. Future Market Insights Global and Consulting Pvt. 3. 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. Additionally, they can be ordered with fruit or boba, both of which are high in added sugar. 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. 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. (2.Americans rank 25th for coffee consumption per capita, with an average consumption of 4.2 kg per person per year. Increasing Inclination of Consumers toward Versatile Teas with Innovative Bold Flavors is a Prominent Trend. 11. 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. Download complimentary copy of Future Market Insights White Paper in collaboration with PBFIA, on thePlant Based Marketthat throws light on potential opportunities andinvestments made in the Global plant based market. Were guessing you already know what bubble tea is. Graph. The research report includes quantitative and qualitative insights into the market. The report covered all the points and was very detailed. The market is anticipated to be valued at US$ 46.0 Mn in 2032. By sugar content, reduced sugar/sugar-free category will gain traction over the forecast period. Book your free consultation and let our research experts help you with your needs/problems. Remarkable job and great efforts by your research team. Thailand leads in bubble tea consumption at an average of 6 cups per person per day. To understand the global market potential, growth, and scope, the market is segmented based on base ingredients (black tea, green tea, oolong tea, white tea, others), flavor (original, flavored (nut-flavored, chocolate, fruit, honey, mocha, caramel, vanilla, coconut), sugar content (regular, reduced sugar/sugar-free) format (ready-to-drink, instant mixes), toppings (pearl, grass jelly, coconut jelly, red bean, multiple/ others), distribution channel (direct (B2B), indirect (B2C) (hypermarket/ supermarket, convenience store, grocery retailers, wholesale, other store-based retailing), online retailing), and region. 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 $3.78 billion by 2029, at a CAGR of 7.40% in the forecast period, 2022-2029, 2020 Fortune Business Insights . Of the 30 countries that enjoy bubble tea, most are in Asia. Pour tea, milk, and 4 teaspoons sugar into a cocktail shaker. 12 Consumption and Demand Forecast 12.1 Global Forecasted Demand Analysis of Deep Vein Thrombosis (DVT) Therapy 13 Forecast by Type and by Application (2023-2028) 13.1 Global Production, Revenue . In 2019, the black tea segment accounted for more than half of the share in the total bubble tea market and is expected to grow at a CAGR of 7.50% throughout the forecast period. The global market is projected to reach US$ 194.7 Bn by 2032. 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. In theory, the bubble tea pearls could stick together and form rather difficult to pass blobs, especially when other ingredients are making them thicker and sturdier. The Mayo Clinic state that up to 400 mg of caffeine a day is probably safe for most healthy adults. On the basis of flavor, it is categorized into original flavor, coffee flavor, fruit flavor, chocolate flavor, and others. The U.S. market is anticipated to register a prolific CAGR of 12.4% over the forecast period. 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 . Our objective was to assess the nutritional profile of popular menu items available through OFD applications in Bangkok, Thailand. In 2014, over 77% of the tea brewed in the United States was prepared using tea bags. Which region held the highest share in the 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. December 17, 2022. By continuing to visit this site you agree to our use of cookies . Statista. At what CAGR is the bubble tea market projected to grow in the forecast period (2022-2029)? Asia Pacific is expected to dominate the market during the forecast period. "Market Intelligence that Adds Flavour to Your Success", Region : Global | Format: PDF | Report ID: FBI101564. 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. And if you have a sweet tooth, its SO GOOD. We know where we will be getting business intelligence from in the future., Thank you for sending the market report and data. This is a decrease, compared to the growth of about 7.64% per year, registered in 2015-2019. 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 . 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.
Bubble milk teas surge in popularity is mainly attributed to taste, affordability, and the rising reinvention of the basic tea recipe. Moreover, increase in disposable income and economic growth in advanced & emerging economies support the market growth. That is approximately four cups of brewed coffee, 10 cans of cola or two "energy shot . 9. 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 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. The forecast period in the global bubble tea market report is 2019-2027. Get in touch with us. Today, bubble tea consumption in China surpasses that of coffee and many other traditional beverages. Join over 60,000 Bubblers (that's what we call our lovely customers!) South America is anticipated to grow in terms of sales volume of the products in the coming years. 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. Apart from being a healthier alternative, becoming a trending beverage, especially among younger consumers, has also aided market growth for bubble tea. Fruit Flavor Segment is Dominating Backed by High Consumer Preference. 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 market is expected to grow at a CAGR of 7.40%, during the forecast period. After decades of slowly increasing in popularity, the big bubble tea boom happened in 2018. This segment does not include herbal tea, instant tea, iced tea or similar tea-derived Ready-to-Drink beverages. 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. This can be attributed to the availability of various options such as combination of various liquid flavors and syrups. Tea in Kenya. 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. 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. Tapioca pearls are made from cassava flour, of which Nigeria is the worlds largest exporter (21%). Some specialty shops have menus with smaller sizes and prices as low as $2 to $3 per serving. page 1 . Moreover, zero fat and low calorie contents of . 12. 7.3.9.1. Followed by black tea, the green tea segment is expected to hold a major percentage of the market share. Most other Southeastern Asian countries drink three cups monthly on average. Virtually any fruit that you can think of can be enjoyed in a bubble tea drink. The Bubble Tea Club Kit has everything you need to make delicious homemade bubble tea. Bubble tea, also known as Boba or Boba tea, is rapidly becoming one of the worlds favorite beverages. Victorian Government, Department of Health and Human Services. For better delivery of our new release, Please help us undestand your interest Industry and Frequency that you prefer to get the new releases. Consumer Shift toward Healthy Alternatives to Favor Growth. Looking forward to work together on similar projects, We appreciate the teamwork and efficiency for such an exhaustive and comprehensive report. In-depth analysis and the bubble tea market size and segmentation assists in determining the prevailing bubble tea market opportunities. Bubble tea consumption gender-wise: According to the statistics, bubble tea is a favorite drink of women. 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. Thailand leads in . Why buy this report?
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. 2. The bubble tea market was valued at $2.4 billion in 2019 and is estimated to reach $4.3 billion by 2027, registering a CAGR of 7.80% from 2020 to 2027. The devotion to bubble tea is so fanatical that in 2020, at the cusp of the circuit breaker, an argument broke out between a food rider and store employees about a hold-up in orders. According to the report, bubble tea orders had increased at a whopping 3,000 percent in 2018. Boost your students confidence by putting their results next to the public's By 2025, 70% of spending and 10% of volume consumption in the Tea segment will be attributable to out-of-home consumption (e.g., in bars and restaurants). A. Between 2021 and 2028, the global tea market is expected to grow at a CAGR of 6.6%. 10. Bubble tea has a milk base and includes ingredients like chewy tapioca balls, or fruit jelly and boba. Due to social media, bloggers documenting their bubble tea experience, and other factors, bubble tea stores continue to flourish and expand their offerings in this region. Tea is one of the most popular beverages consumed worldwide. Thailand will emerge as a lucrative market over the forecast period with a CAGR of 8.7%. The manufacturers or entrepreneurs in the boba tea industry are venturing upon the launch of their own restaurants/cafes to attract consumers and fortify their market presence. Originating in Taiwan, the drink typically consists of tea, milk/cream, and sugar accompanied by tapioca pearls. Required fields are marked *. Thanks for sticking with me in this huge post. Reduced sugar/ sugar-free bubble tea will gain traction over the assessment period. The current valuation of the market is US$ 2.50 billion in 2022. It's the second most-consumed drink in the world, only behind water. Pearl Lemon Boba Unit 4 Building, 250 North End Rd, London SW6 1NJ, United Kingdom. Tea stands were set up in front of the schools and would compete for business with the best selling tea. 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.
Nearly everyone in Thailand enjoys drinking bubble tea, to the point that they have surpassed every other country in the amount that they drink! Future Market Insights Global and Consulting Pvt. 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! Introduced to China in the early 1990s, it quickly became one of the most popular drinks in the nation. Bubble tea is a sweet, delicious drink typically made from a tea base that is then mixed with either milk or fruit flavoring. In Asia, however, it is equally popular among men and women and is seen as a cultural phenomenon. 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). Furthermore, a decline in the growth of bubble tea consumption is witnessed due to strong restrictions on import and export facilities. The United States and Australia were both introduced to bubble tea in the mid-1990s, and it has been growing in popularity ever since. About 200 million pounds of tea leaves (bagged & loose) are shipped into the United 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! This growth is fueled by the perceived health benefits of green tea. Based on bubble tea market forecast, the liquid component was the most prominent segment accounting for the highest share in the bubble tea 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. Bubble Tea is a famous non-alcoholic beverage drink that first . While bubble tea is enjoyed by people of all ages, it tends to be a global favorite among younger people. Directly accessible data for 170 industries from 50 countries and over 1 million facts: Get quick analyses with our professional research service. Other players operating in the market are Boba Box Limited, Fokus Inc., Sumos Sdn Bhd, Troika J.C. (Qbubble), and Boba Tea Company. 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. 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. 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. Countries such as Vietnam and Taiwan are projected to have the largest sales. Aug 16, 2022, 1:25 PM SGT. 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. That number increases when you go up in size to 469 calories and only gets worse as you add in more toppings or extra flavors. Press release from: Analytics Market Research. 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. These drinks are made with milk tea and tapioca pearls (to make the bubbles), which contain a lot of natural sugar. 01 The first bubble tea came out in the early 1980s. 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. There are many varieties of the drink with a wide range of ingredients. Bubble tea can be found in over 30 countries. The Market for Bubble Tea in North America to be the Most Dominant & Fastest Growing. A typical serving of bubble tea at a chain might cost $3 to $5 for a 16- to 20-ounce cup. 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 Middle East & Africa showcases a slower growth as pearl milk tea is consumed as a social drink or as a gesture of hospitality. A. Although there are plenty of bubble tea flavors to choose from, fruit teas tend to be the most popular. Picture via Instagram/yicha_malaysia and myheycha. Let's assume that the daily maintenance calories for an average adult man are 2,500 kcal, and for an average adult . However, the sweeteners segment is expected to witness the highest growth, owing to rise in demand for sweet beverages across the globe. 4. Start reading instantly ,This Report and over 19,845+ more Reports, Available with Avenue Library, T&C*, WRITE AN EMAIL help@alliedmarketresearch.com, U.S. - Canada :+1-800-792-5285 (Toll-free) Int'l : +1-503-894-6022 UK : + 44-845-528-1300. Tea decreased 0.14 USD/Kgs or 4.95% since the beginning of 2023, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. This was attributed due to rise in the consumption of tea based everages across the world. Tea is an aromatic beverage derived . 7. Theory seemed to meet reality . 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 two businesses are known for their zingy fruit tea drinks. 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. This can be attributed to the rise in awareness regarding healthy lifestyle and higher adoption of healthy beverages by health-conscious consumers. 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. In relation to total population figures, per person revenues of US$53.14 are generated in 2023. 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. 14. When we say that bubble tea is insanely popular, were not joking. [1] 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. The bubble tea industry is enormous and accounts for one of the fastest-growing food markets in the world today. Young people between ages 20 and 29 are interested in bubble tea. In 2018, bubble tea made a 3,000 . Bubble tea is drunk by millions of people around the world every single day, even in countries that you might not expect! The chewy tapioca balls or pearls are undoubtedly the stars of any bubble tea drink. By flavor, the market is classified into coffee, fruit, chocolate, original, and others. The rise in online food delivery (OFD) applications has increased access to a myriad of ready-to-eat options, which may lead to unhealthier food choices. For one, there are all of the sweet flavors and fun combinations of ingredients you can get. Bubble tea is made by adding fruit syrup or milk to (usually cold) tea and then shaking the . 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. 5. From Farmer Welfare and Supply Chain to the Latest Trends, Tea Experts Share Insights. The closure of Shanghai . Quick Facts. The value of its market is estimated to be $5.2 billion. This is a list of countries ordered by annual per capita consumption of tea, as of 2016. Ltd. NEWARK, Del, July 26, 2022 (GLOBE NEWSWIRE) -- The global bubble tea market is projected to reach a value of US$ 5.5 Bn by 2031, with sales growing at a robust CAGR of 8.8% for the forecast period of 2021-2031. . And if youre looking for all the facts and figures that back up our claim, you have this blog post. Overall, though tea registered. A. It looks like the bubble tea craze isn't going anywhere soonat least, according to GrabFood data that states bubble tea orders in Southeast Asia saw a 3,000 percent growth rate in 2018. 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. Girls and women are the primary demographic among bubble tea drinkers, with 95% having tried it. Unilever (Lipton), Associated British Foods (Twinings) and Tata Global Beverages (Tetley) are globally the most important players by revenue. 2023 Allied Market Research. How much is the global bubble tea market worth? Thank you!, I recommend Fortune Business Insights for their honesty and flexibility. Read More . This means, market totals are not comparable to published data from prior years. 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. Rising consumption of tea and coffee as nootropic drinks among students and working-class population is a key factor for the market growth. Today, millennials, zennials, and gen z account for the vast majority of the countrys bubble tea consumption. 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. A. Worldwide Tea Statistics. Per Capita Global Tea Consumption Patterns Americans consume more than 50 billion servings of tea a year, nearly 85% of which is iced. As a result, other plant-based hot . 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 appearance of the finished drink is what led to its name. Meanwhile, Philippinos drink five cups of this tea per month. In addition, the growing gastronomic tourism, rising number of health-conscious individuals, and increased social media influences further paved the way toward growing potential. China is one of the prominent regions in the market that accounted for a sizeable share of the total market in 2019. Bubble tea typically sells for about $3 to $5 for a 16- to 20-ounce serving. 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. The global bubble tea market size was valued at USD 2.17 billion in 2021. The campaign will be extended due to the tremendous profit achieved, which motivates the company to broaden its product offerings and brand position. 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.