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. This is for a full-sugar serving that contains 60 g of sugar. The bubble tea market was valued at $2.4 billion in 2019 and is estimated to reach $4.3 billion by 2027, registering a CAGR of 7.80% from 2020 to 2027. According to the bubble tea market share, based onflavor, the fruit flavor segment was the most prominent segment accounting for the highest share in the bubble tea market, in 2019. Who are the leading players in the market? The two most popular varieties are bubble milk tea with tapioca and bubble milk green tea with tapioca. The Market for Bubble Tea in North America to be the Most Dominant & Fastest Growing. Resistant Starch Market Size: The resistant starch market is valued at US$ 10.5 Bn in 2022 and is projected to grow at a CAGR of 6.6% during the forecast period, to reach a valuation of US$ 19.9 Bn by 2032. 7.1% consumed diet drinks daily. Symptoms of . 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. Find the most up-to-date statistics and facts on the tea market in Canada. Request a Free sample to learn more about this report. Consumption of sugar sweetened and diet drinks in adults. On the basis of flavor, it is categorized into original flavor, coffee flavor, fruit flavor, chocolate flavor, and others. Bubble tea can be found on every continent today, except for Antarctica, of course! China is projected to exhibit a 7.5% CAGR. Brands, such as Koi The Co, Moge Tee, and M.A.D. Our objective was to assess the nutritional profile of popular menu items available through OFD applications in Bangkok, Thailand. By component, it is classified into flavor, creamer, sweetener, liquid, tapioca pearls, and others. 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. Quick Facts. Find your information in our database containing over 20,000 reports, Consumer Market The types include milk tea, black tea, fresh fruit tea, smoothies or milkshakes, fresh milk, and salted cream. The bubble tea market in Thailand is predicted to register an 8.7% CAGR. In 2018, bubble tea made a 3,000 . While bubble tea is enjoyed by people of all ages, it tends to be a global favorite among younger people. 15. The key players in the industry receiving high levels of popularity and response from customers are franchising their businesses into different locations. The Middle East & Africa showcases a slower growth as pearl milk tea is consumed as a social drink or as a gesture of hospitality. With 38 grams per 16oz beverage, bubble tea should be enjoyed in moderation. Consumption of black tea is highly promoted due to its strong antioxidant, anti-aging, and anti-diabetic properties. Tea stands were set up in front of the schools and would compete for business with the best selling tea. 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. Future Market Insights Global and Consulting Pvt. Book your free consultation and let our research experts help you with your needs/problems. Ltd. 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. 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. [1] 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. 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. Tapioca balls or "pearls" are often added to the concoction as well. Introduced to China in the early 1990s, it quickly became one of the most popular drinks in the nation. 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. 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. Bubble milk teas surge in popularity is mainly attributed to taste, affordability, and the rising reinvention of the basic tea recipe. We selected the top 40 popular menu items from three of the most commonly used OFD applications in 2021. The Tea segment in Australia is projected to grow by 2.61% (2023-2025) resulting in a market volume of US$1.47bn in 2025. . The market value of the bubble tea market is anticipated to reach a high of US$ 5.82 billion by the year 2032. "Market Intelligence that Adds Flavour to Your Success", Region : Global | Format: PDF | Report ID: FBI101564. 11. Among various flavors, fruit flavor is more popular, and this segment dominated the market in 2019. In the United States, 95% of women have tried bubble tea as opposed to 81% of men. In 2018, there were over 450,000 shops selling bubble tea in China. According to the recent report by FMI, based on base ingredient type, the green tea segment is expected to dominate the market over the forecast period. Six in ten (59.7%) did not usually consume either sugar sweetened or diet drinks. Boba tea, or "bubble tea," has been around since the late 1980s in Taiwan. 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 . The U.S. market is anticipated to register a prolific CAGR of 12.4% over the forecast period. Bubble tea, also known as Boba or Boba tea, is rapidly becoming one of the worlds favorite beverages. 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. It also offers a detailed analysis of the market size and growth rate for all possible market segments. Most other Southeastern Asian countries drink three cups monthly on average. How much is the global bubble tea market worth? Overall, though tea registered. December 17, 2022. 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. They are made from cassava starch, a common ingredient in Brazilian culture, and they take time, effort, and skill to make properly. Bubble Tea is a famous non-alcoholic beverage drink that first . 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. Since our launch, weve worked on more than 1,000 projects for clients around the world. 17 Aug 2022 12:37PM (Updated: 17 Aug 2022 06:16PM) SINGAPORE: Bubble tea lovers in Southeast Asia spend US$3.66 billion a year on the beverage and similar "new tea" drinks, with Singapore . Over 90% of the tea consumed is Black Tea, about 5% Green Tea, 1% Oolong Tea and the balance flavored, scented, or mixed teas. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); We're Soocial, a leading branding agency with a passion for creating memorable names and internationally-renowned brands. Data at LGA level is also presented. Future Market Insights Global and Consulting Pvt. We use cookies to enhance your experience. 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. The average volume per person in the Tea segment is expected to amount to 0.68kg in 2023. Pearl Lemon Boba Unit 4 Building, 250 North End Rd, London SW6 1NJ, United Kingdom. Pune, India, Oct. 26, 2021 (GLOBE NEWSWIRE) -- The global bubble tea market size is expected to reach USD 3.39 billion by 2027 . Its not just the sugar that gives these drinks their sweetness, though; many restaurants also add sweeteners to them. 16. Consumption declines with age. Theory seemed to meet reality . All rights reserved. Art & Craft. 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. 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%.. There are many teas, they can vary in . Health beneficial attributes such as low-fat, low-calorie content, and presence of anti-inflammatory properties are the key driving factors of the market. This means, market totals are not comparable to published data from prior years. A. 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. More Insights into the Bubble Tea Market Report. Bubble Tea Popularity Statistics Singapore; by palmebre Published: July 20, 2021 (2 days ago) Category. 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! But in case you dont Its tea served with a giant chewy ball of tapioca at the bottom of the cup. Although people of all ages frequently enjoy bubble teas across the globe, younger people tend to drink them more frequently. An average, medium-sized serving of bubble tea has, on average, 335 calories. Originating in Taiwan, the drink typically consists of tea, milk/cream, and sugar accompanied by tapioca pearls. Victorian Government, Department of Health and Human Services. 03 Locally called "po po ch," Singapore has sold bubble tea since 1992. 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. The market was expected to reach a valuation of US$ 2.3 Bn by the end of 2021. 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. Apart from the U.S. and Asian countries, the trend of milk tea is also extensively growing amongst individuals residing in the Middle East and Africa. The global Bubble Tea Market is expected to $4,368.6 million in 2027. Moreover, higher expenditure of consumers on healthy beverages adds to the popularity of bubble tea in theregion. 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. The drink became popular during the 1990s, just in time for millennials to develop a taste for it. Bubble tea consumption gender-wise: According to the statistics, bubble tea is a favorite drink of women. The United States and Australia were both introduced to bubble tea in the mid-1990s, and it has been growing in popularity ever since. Extruding the tapioca into these small balls is difficult work. The global bubble teamarket holds a substantial scope for growthduring the forecast period. Emerging countries such as China, India and Brazil growing with the CAGR of 8%, 9.5%, and 8.3% respectively. Required fields are marked *. Thank you for contacting us, our sales representative will get in touch with you shortly! Bubble tea typically sells for about $3 to $5 for a 16- to 20-ounce serving. 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. How much sugar was consumed? The price might seem high, but you have to consider everything that goes into making it, which includes: On the surface, bubble tea seems like a simple drink. Were guessing you already know what bubble tea is. Other players operating in the market are Boba Box Limited, Fokus Inc., Sumos Sdn Bhd, Troika J.C. (Qbubble), and Boba Tea Company. 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. In the next five years, the bubble tea industry is expected to grow by nearly 54%. The 30 Tea Drinkers vs. Coffee Drinkers Statistics. The Mayo Clinic state that up to 400 mg of caffeine a day is probably safe for most healthy adults. A. One kilogram therefore represents 500 cup equivalents. Which region held the highest share in the market? 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. 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. 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. Heycha and Yicha both have similar-sounding names and include refreshing fruit teas as part of their star offerings. By sugar content, reduced sugar/sugar-free category will gain traction over the forecast period. However, excess sugar content in these drinks leading to health issues and trend of coffee consumption are expected to restrict the market growth. Versatility in flavor, health benefits, and social media trends drive the market. 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. Clicking on the following button will update the content below. There are many varieties of the drink with a wide range of ingredients. The bubble tea industry is expected to reach $3.39 billion by 2027. Based on our analysis, the global market exhibited a slower growth of 2.76% in 2020 as compared to 2019. Moreover, based on the study by the finance-based startup, Momentum Works and payment startup, Qlub, Indonesias bubble milk tea market ranked first among all the Southeast Asian countries. A South Australian Health Omnibus Survey (SAHOS) done in 2014 showed that there was a . Bubble tea can be found in over 30 countries. Bubble tea is known for its sweet taste.
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