The campaign will be extended due to the tremendous profit achieved, which motivates the company to broaden its product offerings and brand position. Ltd.
Which is the leading segment based on the product type in the market? 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. Tea is one of the most popular beverages consumed worldwide. Essential Facts. 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. For instance, in April 2022, U.S. based start-up namely Bubluv Inc. launched tapioca starch and konjac based bubble tea in three flavors, black milk tea with tapioca pearls, matcha soy latte with tapioca pearls, and oolong guava with tapioca pearls. Boba tea is creating a buzz among individuals worldwide, owing to its growing appeal and novelty. Global Bubble Tea Market Dynamics, Regional Analysis, Segmentation, Competitive Landscape, COVID-19 Impact, Recent Developments and SWOT Analysis of Key Modern Asian Desserts, expanded its business in the country by introducing various boba milk tea outlets. SINGAPORE ( THE BUSINESS TIMES) - Bubbling excitement for bubble tea across South-east Asia has helped the industry grow to a whopping US$3.7 billion ($5.1 . Bubble milk teas surge in popularity is mainly attributed to taste, affordability, and the rising reinvention of the basic tea recipe. Global Demand for Coffee - Despite the demand for coffee in the United States, the country only ranks 25th in per capita coffee consumption. Graph. It is expected to be the fastest growing segment owing to consumers' inclination towards the convenience offered. Bubble tea shops, or Boba tea as it is frequently called in America, can be found in almost every major city across the country. Unilever (Lipton), Associated British Foods (Twinings) and Tata Global Beverages (Tetley) are globally the most important players by revenue. In 2020-21, of people aged 18 years and over: 6.4% consumed sugar sweetened drinks daily. For instance, in September 2020, Chen Shucheng started a new bubble milk tea franchise in Singapore called Meme Xpress. There are many teas, they can vary in . +44 208 097 3636. All Rights Reserved. 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. There was a 3,000% increase in the amount of bubble tea orders in Southeast Asia in 2018. The research report includes quantitative and qualitative insights into the market. Find your information in our database containing over 20,000 reports, Consumer Market 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, Troika JC. Bubble tea has a milk base and includes ingredients like chewy tapioca balls, or fruit jelly and boba. Consumption of sugar sweetened and diet drinks in adults. Bubble tea is a beverage originating from Taiwan comprising tea with fruit syrup or milk added, and then shaken. 7.3.9.1. Bubble Tea is a famous non-alcoholic beverage drink that first . 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! 87% of American millennials drink tea, including bubble tea. Boost your students confidence by putting their results next to the public's 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). The Mayo Clinic state that up to 400 mg of caffeine a day is probably safe for most healthy adults. Asia-Pacific (APAC) dominates the bubble tea market because of the high consumption of the bubble tea within the region. Tea is the second most popular drink in the world, with water at first place. Your email address will not be published. After decades of slowly increasing in popularity, the big bubble tea boom happened in 2018. Availability of a Wide Range of Products for Enticing Younger Generation to Boost Growth. The two most popular varieties are bubble milk tea with tapioca and bubble milk green tea with tapioca. This means, market totals are not comparable to published data from prior years. Art & Craft. . The Market for Bubble Tea in North America to be the Most Dominant & Fastest Growing. More Insights into the Bubble Tea Market Report. 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 . Bubble Tea Market size was estimated at $2.1 billion in 2020, projected to increase at a CAGR of 6.8% during the forecast period 2021-2026. info@pearllemongroup.com. An Infographic Representation of Bubble Tea Market, To get information on various segments, share your queries with us. How Much Is the Bubble Tea Industry Worth. 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. Just over half (52%) of all free sugars consumed were from beverages, led by soft drinks, sports and energy drinks (19%), fruit juice and fruit drinks (13%), with the sugar added to beverages such as tea and coffee contributing 7.3% and . Bubble tea can be found in over 30 countries. The U.S. market is anticipated to register a prolific CAGR of 12.4% over the forecast period. Statista. For instance, Nextrends Asia 2021 displayed a surge in Taiwans exports of pearl milk teas base ingredients (raw materials, packaging and machinery, and others) which was an increment of 330% as compared to 2018. Bubble tea is often seen as a sweet, fruity, and more feminine drink in the western world, particularly with its multi-colored straws and cute cartoon packaging designs. Consumer Shift toward Healthy Alternatives to Favor Growth. Grab also reported that on average, Southeast Asians drink an average of four cups of pearl milk tea per person per month. Symptoms of . The market player positioning segment facilitates benchmarking and provides a clear understanding of the present position of the market players in the industry. Among participants, 647 (88%) consumed less . A. The consumption of bubble milk tea also improves the balance of vitamins and minerals in the human body due to the presence of various inclusions such as yogurt, cream, fruit bits, and others. Most other Southeastern Asian countries drink three cups monthly on average.
When you look at the marketing for bubble tea, the numbers make sense. Thank you for requesting a call back, our sales representative will get in touch with you shortly! About 200 million pounds of tea leaves (bagged & loose) are shipped into the United Bubble tea made a rise in popularity in 2018 with a 3000% increase in orders from Southeast Asia. Chatime, Gong Cha, Coco Fresh Tea & Juice, and Lollicup USA, Inc. are the leading players in the market. Pearl Lemon Boba Unit 4 Building, 250 North End Rd, London SW6 1NJ, United Kingdom. Bubble tea typically sells for about $3 to $5 for a 16- to 20-ounce serving. Tapioca balls or "pearls" are often added to the concoction as well. a more convenient consumption option, compared with hot cereals, which can require the addition of boiling water or milk. 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 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. +44 208 097 3636. By sugar content, reduced sugar/sugar-free category will gain traction over the forecast period. 15. Nevertheless, manufacturers are trying to introduce new beverage options, such as bubble milk tea, in the market. A. 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. 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. According to the bubble tea market share, based onflavor, the fruit flavor segment was the most prominent segment accounting for the highest share in the bubble tea market, in 2019. 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. 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. Apart from being a healthier alternative, becoming a trending beverage, especially among younger consumers, has also aided market growth for bubble tea. This can be attributed to change in preference of consumers toward healthy beverages and better taste. (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. By continuing to visit this site you agree to our use of cookies . Methods: Self-report questionnaires were used to assess bubble tea consumption and mental status. 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. 4. This cross-sectional study investigated the association between bubble tea consumption and symptoms of anxiety and depression in a population-based sample. Some specialty shops have menus with smaller sizes and prices as low as $2 to $3 per serving. Emerging countries such as China, India and Brazil growing with the CAGR of 8%, 9.5%, and 8.3% respectively. The data offered to us was exactly what we were looking for. That is approximately four cups of brewed coffee, 10 cans of cola or two "energy shot . Additionally, due to Australia's climate, tea is able to be grown and produced in northern Australia.
2. The region is witnessing a cross-cultural food consumption trend, and the growing health and wellness approach is also expected to boost the growth. Health beneficial attributes such as low-fat, low-calorie content, and presence of anti-inflammatory properties are the key driving factors of the market. 9. 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. 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. Bubble Tea originated in Taiwan in the early 1980's at a small tea stand. Ask for Customization @ https://www.futuremarketinsights.com/customization-available/rep-gb-12310. The closure of Shanghai . December 17, 2022. 03 Locally called "po po ch," Singapore has sold bubble tea since 1992. Awareness about health issues and their relation to meat consumption has resulted in a shift towards vegan and plant-based diets. 6. Overall, though tea registered. This is far higher than the cost of a similar amount of milk or juice, but the high price does not seem to deter people from making it their go-to beverage. In 2016, 19.4 per cent of 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. Ready-to-Drink variants are instead aggregated into the segment Ready-to-Drink (RTD) Tea in the Non-Alcoholic Drinks market. 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 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%.. 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. 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. 10. The price per unit in the out-of-home market always references the total price over the amount of tea consumed, regardless of the other components of the finished beverage. The global Bubble Tea Market is expected to $4,368.6 million in 2027. In relation to total population figures, per person revenues of US$53.14 are generated in 2023. 11.2% of Victorian adults consume sugar sweetened beverages daily. Future Market Insights Global and Consulting Pvt. 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. 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. 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. According to a recent consumer study, 94% of people between ages 20 and 29 have purchased bubble tea within the last 3 months. 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. 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. Versatility in flavor, health benefits, and social media trends drive the market. This is a list of countries ordered by annual per capita consumption of tea, as of 2016. The incredible success of bubble tea in China since 1996. Availability of Other Caffeinated Drinks to Impede Growth. Sometimes they are blended with ice to give them a more slushy-like consistency. USD 1,195. Bubble teas distinct flavor, easy product availability, and numerous varieties offered will help the market to flourish. 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. Quick Facts. The global market for organic tea is showcasing strong growth principally because of the growing knowledge regarding safer counterparts of organic products among consumers. Ready to drink tea products have seen a 15x increase in sales and consumption since 2004. Over of the bubble tea enjoyed around the world is fruit-flavored. Which region held the highest share in the market? In addition, as Europe is not highly indulged in tea production and mostly relies on other regions for the supply of tea, it somehow limits the market growth.