Bubble tea is extremely high in calories. 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. In-depth analysis and the bubble tea market size and segmentation assists in determining the prevailing bubble tea market opportunities. Almost overnight bubble tea shops popped up around the world in multiple countries that had never had an interest in it before. 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. Thank you!, I recommend Fortune Business Insights for their honesty and flexibility. 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. 19 Shocking Tea Consumption Statistics - BrandonGaille.com July 26, 2022 10:30 ET 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. 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. The consumption of organic tea rose by 1.06 million gallons in 2018. Tea in Kenya. 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. 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. One cup of tea is assumed to contain 2 grams of tea. [1] As per the report, sales will increase at a 4.2% CAGR over the forecast period, reaching US$ 354.6 Mn by 2032. When we say that bubble tea is insanely popular, were not joking. Among various flavors, fruit flavor is more popular, and this segment dominated the market in 2019. In addition, aggressive advertisements and celebrity end orsements have also helped the global market to pave its way toward growth. In addition, the growing gastronomic tourism, rising number of health-conscious individuals, and increased social media influences further paved the way toward growing potential. There are six official types of bubble tea. 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. Bubble tea made a rise in popularity in 2018 with a 3000% increase in orders from Southeast Asia. 12. Of the 30 countries that enjoy bubble tea, most are in Asia. 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. With shops all around the world in many major cities, its easy to indulge your bubble tea craving when you want to! The market is expected to grow annually by 2.61% (CAGR 2023-2025). 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. 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 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. All these aspects necessitate the manufacturers to develop premium quality teas by keeping the consumer demands in mind. Revenue in the Tea segment amounts to US$1.40bn in 2023. We calculate that for a 700 ml or 24 oz serving of bubble milk tea, which is usually the large cup size in most boba shops, the total bubble tea calories are 700 kcal. Unilever (Lipton), Associated British Foods (Twinings) and Tata Global Beverages (Tetley) are globally the most important players by revenue. 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. 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. Coffee and tea are the most consumed as well as socially accepted nootropic beverages across the world, and many consumers are highly dependent on such caffeinated drinks before starting their day. 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. . Essential Facts. Global Bubble Tea Market - Data Bridge Market Research Beware the Bubble Tea: Examining the Dangers of Bubble Tea Consumption 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. In the United States, 95% of women have tried bubble tea versus 81% of males. Thanks for sticking with me in this huge post. Insights. Virtually any fruit that you can think of can be enjoyed in a bubble tea drink. Such challenges cumulatively hamper the growth potential of the global market. The Asia Pacific bubble tea market is expected to flourish with multiple market opportunities. Organic Tea Market Size, Share and Growth [2020-2027] This is likely due to its naturally sweet flavor and all of the different varieties of teas that are available. 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. 9. Statista. +44 208 097 3636. The industry shows no signs of slowing down, and in fact, appears to be growing exponentially with every passing year. 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. Its not just the sugar that gives these drinks their sweetness, though; many restaurants also add sweeteners to them. Millennial Tea Drinking Stats - Tea continues to gain market share in surprising areas. Asia Pacific Bubble Tea Market Size, 2021 (USD Billion), To get more information on the regional analysis of this market, Request a Free sample. The price for bubble tea depends on where you get it. Alcoholic Tea Market 2023: Research, Analysis, Trends, A 16 oz serving of bubble tea contains 38 grams of sugar, which is 76% of the recommended daily value. Lycopene Food Colors Market Growth: The overall demand for lycopene food colors is slated to grow at a prolific CAGR of 10.7% during the forecast 2022-2032, totaling US$ 257 Mn by 2032. Additionally, due to Australia's climate, tea is able to be grown and produced in northern Australia. By continuing to visit this site you agree to our use of cookies . Among participants, 647 (88%) consumed less . In this era, the growing consumer preferences for products depend on various factors such as choice of taste, price, brand, and location accessibility. South America is anticipated to grow in terms of sales volume of the products in the coming years. Save my name and email in this browser for the next time I comment. Bubble tea is also known as (Zhen Zhu Nai Cha) directly translates to pearl milk tea, but is also known as boba tea in . Toss in the pearl tapioca. Survey: Millennials, Gen Z Big Fans of Bubble Tea Changes in consumers tastes and preferences have fostered growth for the bubble tea market over the forecast period. 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. Meet one of Australia's fastest-growing franchises: How Chatime is 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 . This is for a full-sugar serving that contains 60 g of sugar. Rising consumption of tea and coffee as nootropic drinks among students and working-class population is a key factor for the market growth. 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. The adoption of bubble tea has been quite high in mature regions such as the U.S., Canada, and Germany while emerging countries such as China, Brazil, and India are catching up quickly. Bubble Tea Market Analysis, Growth & Forecast 2027 | Major | Source: With bubble teas sudden increase in popularity, it should be no surprise that the industry is only expected to keep growing. Adolescents drink too much caffeine - Medical News Today Driven by Elevated Demand for Healthier Drinks; Bubble Tea Its iced or hot black or green tea mixed with chewy tapioca balls that are often flavored. Mineral Premix Market Demand: The global mineral premixes market is expected to reach US$ 761.1 Mn by 2022, accelerating at a CAGR of 8.6% during the forecast period (2022-2032). Tea is a large part of modern Australian culture due to its British origins. 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! Keep reading to discover everything weve uncovered about bubble tea. This segment does not include herbal tea, instant tea, iced tea or similar tea-derived Ready-to-Drink beverages. Bubble tea can be found on every continent today, except for Antarctica, of course! Bubble Tea is a famous non-alcoholic beverage drink that first . That is approximately four cups of brewed coffee, 10 cans of cola or two "energy shot . One concession owner became popular with her . 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. For one, there are all of the sweet flavors and fun combinations of ingredients you can get. 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 . Bubble tea consumption gender-wise: According to the statistics, bubble tea is a favorite drink of women. For instance, in September 2020, Chen Shucheng started a new bubble milk tea franchise in Singapore called Meme Xpress. Pearl Lemon Boba Unit 4 Building, 250 North End Rd, London SW6 1NJ, United Kingdom. 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. 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 . Other players operating in the market are Boba Box Limited, Fokus Inc., Sumos Sdn Bhd, Troika J.C. (Qbubble), and Boba Tea Company. Versatility in flavor, health benefits, and social media trends drive the market. 4. 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.