The emerging players in the Bubble Tea Market are Bubble Tea Supply Inc., ChaTime, CoCo Fresh, Quickly, Kung Fu Tea, Boba Loca, Happylemon, Share Tea, T Bun International, Fanale Drinks, Grand Chainly, and Huey-Yuhe Enterprise. 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. 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 . Each . 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. Let's assume that the daily maintenance calories for an average adult man are 2,500 kcal, and for an average adult . The report covered all the points and was very detailed. 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. One cup of tea is assumed to contain 2 grams of tea. Ready to drink tea products have seen a 15x increase in sales and consumption since 2004. The specialty of milk tea is growing due to its ease of customization with various tea bases and toppings such as jellies, fruit bits, syrups, and tapioca balls. Brands, such as Koi The Co, Moge Tee, and M.A.D. Nevertheless, manufacturers are trying to introduce new beverage options, such as bubble milk tea, in the market. Interesting Facts. 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. The global COVID-19 pandemic has been unprecedented and staggering, with bubble tea experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The green tea segment was the highest contributor to the market, with $16,362 million in 2019, and is estimated to reach $26,110 million by 2027, at a CAGR of 9.8% during the forecast period. Statista. The market is expected to grow annually by 2.61% (CAGR 2023-2025). In the United States, 95% of women have tried bubble tea versus 81% of males. Cook for about 20 minutes. Rising Raw Material and Transportation Cost Due to the Pandemic to Slow Down the Market Growth. We use cookies to enhance your experience. Data at LGA level is also presented. Since our launch, weve worked on more than 1,000 projects for clients around the world. It also revealed that the global bubble tea market size was valued at US$2.02 billion in 2019, and is expected to reach US$3.39 billion by 2027. Future Market Insights Global and Consulting Pvt. Bubble tea | Infopedia - National Library Board 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. In relation to total population figures, per person revenues of US$53.14 are generated in 2023. Bubble tea is made by adding fruit syrup or milk to (usually cold) tea and then shaking the . PDF Demographic Summary - TeaUSA By base ingredient, it is divided into black tea, green tea, oolong tea, and white tea. Europe is expected to witness significant growth during the forecast period of 2022 to 2029 because of the increase in the demand for healthy hot beverages in the region. 5. Download complimentary copy of Future Market Insights White Paper in collaboration with PBFIA, on thePlant Based Marketthat throws light on potential opportunities andinvestments made in the Global plant based market. Bubble Tea Market Sale, Share, Size, Growth & Forecast -2032 The report provides a quantitative analysis of the current bubble tea market trends, estimations, and dynamics of the market size from 2019 to 2027 to identify the prevailing opportunities. How Much Is the Bubble Tea Industry Worth. Based on the distribution channel, online retailing is expected to exhibit a CAGR of 11.9%. The market value of the bubble tea market is anticipated to reach a high of US$ 5.82 billion by the year 2032. 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). Bubble tea consumption statistics - pearllemonboba.com 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. Fruit Flavor Segment is Dominating Backed by High Consumer Preference. Keep reading to discover everything weve uncovered about bubble tea. 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. 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. . Based on the base ingredient, green tea will lead the market growth over the forecast period. Were big enough to handle massive projects, and yet also nimble enough to come up with names on demand that hit every time. As of December 2018, GrabFood's bubble tea network encompasses over 1,500 brands with 4,000 outlets throughout . Consumption declines with age. The market for Tea segment is expected to show a volume growth of 1.6% in 2024. Tea - Australia - Statista - The Statistics Portal for Market Data 12. A. Malaysia Coffee & Tea Reports: Our 2023 Malaysia report include trends, statistics, opportunities, sales data, market share, segmentation projections on the Coffee & Tea market. Ltd. https://www.futuremarketinsights.com/reports/sample/rep-gb-12310, https://www.futuremarketinsights.com/customization-available/rep-gb-12310, https://www.futuremarketinsights.com/checkout/12310, https://www.futuremarketinsights.com/ask-question/rep-gb-12310, https://www.futuremarketinsights.com/reports/bubble-tea-market, https://www.futuremarketinsights.com/reports, Ready to Drink Shakes Market Outlook (2022-2032). 1.In 2019, 64% of Americans aged 18 and over drank coffee every day. Originating in Taiwan, the drink typically consists of tea, milk/cream, and sugar accompanied by tapioca pearls. Bubble Tea Market size was estimated at $2.1 billion in 2020, projected to increase at a CAGR of 6.8% during the forecast period 2021-2026. About 200 million pounds of tea leaves (bagged & loose) are shipped into the United Sunset Yellow FCF Market Sales: The sunset yellow FCF sales are slated to grow at a CAGR of 6.25% between 2022 and 2032, totaling a market valuation of US$ 150 Mn by 2032. Synthetic Food Colors Market Outlook: The global synthetic food colors market size is estimated to be valued at US$ 590 Mn in 2022 and is further expected to grow at a CAGR of 6% between 2022 and 2032, surpassing a valuation of US$ 1,066 Mn by the end of 2032. 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. | Source: Its iced or hot black or green tea mixed with chewy tapioca balls that are often flavored. 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. Per Capita Global Tea Consumption Patterns Americans consume more than 50 billion servings of tea a year, nearly 85% of which is iced. Based on our analysis, the global market exhibited a slower growth of 2.76% in 2020 as compared to 2019. 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. A. 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. According to a study published in the National Library of Medicine, 2022, chewing tapioca pearls can increase the salivary C-protein (CRP) and calcium (Ca) levels. Bubble tea is drunk by millions of people around the world every single day, even in countries that you might not expect! +44 208 097 3636. The global market for organic tea is showcasing strong growth principally because of the growing knowledge regarding safer counterparts of organic products among consumers. Six in ten (59.7%) did not usually consume either sugar sweetened or diet drinks. 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. For example, according to . Theory seemed to meet reality . Both the at-home and the out-of-home market are valued at retail selling prices including all sales and consumption taxes. In 2020-21, of people aged 18 years and over: 6.4% consumed sugar sweetened drinks daily. Bubble tea has a milk base and includes ingredients like chewy tapioca balls, or fruit jelly and boba. Bubble tea brands expected to produce novel and unique products over the forecast period. By sugar content, reduced sugar/sugar-free category will gain traction over the forecast period. Sometimes they are blended with ice to give them a more slushy-like consistency. Additionally, they can be ordered with fruit or boba, both of which are high in added sugar. An Infographic Representation of Bubble Tea Market, To get information on various segments, share your queries with us. Accelerated demand for healthier beverage alternatives to carbonated drinks coupled with shifts in consumer preferences is fueling market growth for bubble tea. Bubble tea, also known as Boba or Boba tea, is rapidly becoming one of the worlds favorite beverages. That means 24 countries have higher consumption rates that are worth targeting. Bubble Tea Calories, Is Boba A Healthy Drink? - Honest Food Talks According to the CXOs, Europe is projected to register significant growth as compared to Asia-Pacific and North America due to rapid urbanization, rise in consumption of healthy beverages, and low price of bubble tea. It should be no surprise then that sugar is a primary ingredient in the drink. Bubble Tea History This can be attributed to the availability of various options such as combination of various liquid flavors and syrups. Save my name and email in this browser for the next time I comment. 10. When we say that bubble tea is insanely popular, were not joking. Ask for Customization @ https://www.futuremarketinsights.com/customization-available/rep-gb-12310. 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. The research report includes quantitative and qualitative insights into the market. Toss in the pearl tapioca. The segment will depict a robust 11.8% CAGR and account for more than 26% of the market share. Bubble tea has been gaining traction in emerging markets, owing to rise in its popularity.Furthermore, growth in health consciousness and increase in adoption of healthy beverages such as green tea, black tea, oolong tea, and white tea among consumers drive the market growth. Need to talk to an expert? 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. Your email address will not be published. In the Tea segment, volume is expected to amount to 18.6mkg by 2025. (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. It's the second most-consumed drink in the world, only behind water. 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. There are six official types of bubble tea. Fruit-flavored bubble teas account for the largest percentage of bubble tea consumed at 37%. Bubble Tea Popularity Statistics Singapore - Emkan.me Countries in North America are gradually increasing the consumption of this tea owing to the growing popularity of tea-based drinks. Extruding the tapioca into these small balls is difficult work. (Caffeine Informer) Some specialty shops have menus with smaller sizes and prices as low as $2 to $3 per serving. 7.1% consumed diet drinks daily. It includes flavor variants such as lychee, mango, passion fruit, peach, plum, strawberry, avocado, banana, grape, kiwi, lemon, and others. For one, there are all of the sweet flavors and fun combinations of ingredients you can get. NEWARK, Del, July 26, 2022 (GLOBE NEWSWIRE) -- The global bubble tea market is projected to reach a value of US$ 5.5 Bn by 2031, with sales growing at a robust CAGR of 8.8% for the forecast period . 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. Ready-to-Drink variants are instead aggregated into the segment Ready-to-Drink (RTD) Tea in the Non-Alcoholic Drinks market. Introduced to China in the early 1990s, it quickly became one of the most popular drinks in the nation. With bubble teas sudden increase in popularity, it should be no surprise that the industry is only expected to keep growing. Unilever (Lipton), Associated British Foods (Twinings) and Tata Global Beverages (Tetley) are globally the most important players by revenue. Chocolate flavored milk tea is tremendously popular in which chocolate powder is blended with milk to strengthen its flavor. 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. Whats your favorite bubble tea base to start with? In global comparison, most revenue is generated in China (US$111,800.00m in 2023). . Healthy Drinking to Spur Bubble Tea Market Demand through 2030, Future The value of its market is estimated to be $5.2 billion. 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. Bubble tea consumption statistics show that Thais drink six bubble teas per month. We are happy with the professionalism of your in-house research team as well as the quality of your research reports. The bubble tea market was valued at $2.4 billion in 2019 and is estimated to reach $4.3 billion by 2027, registering a CAGR of 7.80% from 2020 to 2027. For people aged 71 or older, the figures were substantially lower, at 1,584 grams and 1,532 grams, respectively. Thank you for requesting a call back, our sales representative will get in touch with you shortly! Virtually any flavor that you can imagine exists with bubble tea. Asia Pacific Bubble Tea Market Size, 2021 (USD Billion), To get more information on the regional analysis of this market, Request a Free sample. Drum To Hopper Blends Premix Market Forecast: The global drum to hopper blends Premix market is expected to reach a valuation of US$ 752.1 Mn in 2022, with demand increasing at a CAGR of 7.4% over the assessment period. Insights. 11. This has led to transportation delays and the functioning of both supplies (tea estates) and demand for consumption points to a standstill due to shortage of manpower and reduced visits of customers to coffee shops amidst the lockdown. As more and more consumers become aware of the negative effects of sugar consumption, the sugar-free or reduced sugar segment of bubble tea is expected to gain popularity. Is Croft And Barrow The Same As Sonoma, Spring Byington Cause Of Death, Articles B