The market player positioning segment facilitates benchmarking and provides a clear understanding of the present position of the market players in the industry. 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. 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 Overview and forecasts on trending topics, Industry and market insights and forecasts, Key figures and rankings about companies and products, Consumer and brand insights and preferences in various industries, Detailed information about political and social topics, All key figures about countries and regions, Market forecast and expert KPIs for 600+ segments in 150+ countries, Insights on consumer attitudes and behavior worldwide, Business information on 60m+ public and private companies, Detailed information for 35,000+ online stores and marketplaces. Awareness about health issues and their relation to meat consumption has resulted in a shift towards vegan and plant-based diets. 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. Whether youre feeling something sweet, fruity, and refreshing, something soothing and tea-like, or a slushy smoothie like-drink, bubble tea has you covered. The Asia Pacific market held the largest share and was valued at USD 0.90 billion in 2021. 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. (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. 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. By flavor, the market is classified into coffee, fruit, chocolate, original, and others. 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 . 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. Aug 16, 2022, 1:25 PM SGT. Request a Free sample to learn more about this report. The data offered to us was exactly what we were looking for. The research report includes quantitative and qualitative insights into the market. 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. Bubble tea is a beverage originating from Taiwan comprising tea with fruit syrup or milk added, and then shaken. Increasing Inclination of Consumers toward Versatile Teas with Innovative Bold Flavors is a Prominent Trend. BBT Club is Australia's leading DIY bubble tea company for anywhere and anytime. 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. 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. Our objective was to assess the nutritional profile of popular menu items available through OFD applications in Bangkok, Thailand. In the Philippines alone, orders increased by 3,500 percent from June to December 2018. 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. Countries in North America are gradually increasing the consumption of this tea owing to the growing popularity of tea-based drinks. . Many Thai people drink bubble tea daily, and in many cases may drink multiple cups per day. 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. 03 Locally called "po po ch," Singapore has sold bubble tea since 1992. Aug 24, 2022 03:14pm. 12. In 2016, 19.4 per cent of The other players operating in the global bubble tea market are Bubble Tea Supply Inc., ChaTime, CoCo Fresh, Quickly, Kung Fu Tea, BobaLoca, Happylemon, Share Tea, T Bun International, Fanale Drinks, Grand Chainly, and Huey-Yuhe Enterprise. 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. Pearl Lemon Boba Unit 4 Building, 250 North End Rd, London SW6 1NJ, United Kingdom. The key players in the industry receiving high levels of popularity and response from customers are franchising their businesses into different locations. Tea in Kenya. Add the ice cubes, and shake so the whole drink can get cold. 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. However, excess sugar content in these drinks leading to health issues and trend of coffee consumption are expected to restrict the market growth. It slowly spread throughout Asia before gaining popularity in the U.S. and across the globe. Tea is the second most popular drink in the world, with water at first place. 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. Bubble Tea Market Analysis, Growth & Forecast 2027 - Yahoo! Moreover, higher expenditure of consumers on healthy beverages adds to the popularity of bubble tea in theregion. 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. Organic Tea Market Size, Share and Growth [2020-2027] A popular version of bubble tea, known as Thai iced tea originated in Thailand in the 1800s, and when bubble tea was invented people began adding tapioca balls to it. That is approximately four cups of brewed coffee, 10 cans of cola or two "energy shot . For instance, in September 2020, Chen Shucheng started a new bubble milk tea franchise in Singapore called Meme Xpress. Thank you Fortune Business Insights for your efforts and prompt response, I had a great experience working with Fortune Business Insights. Bubble tea is made by adding fruit syrup or milk to (usually cold) tea and then shaking the . Girls and women are the primary demographic among bubble tea drinkers, with 95% having tried it. Bubble tea has a sweet, sour, and tangy taste that varies depending on the type of fruit used. Find your information in our database containing over 20,000 reports, Consumer Market In Asia, however, it is equally popular among men and women and is seen as a cultural phenomenon. 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. 4. Coffee and Tea Marketing & Industry Trends Shaping 2023 - Linchpin Statista. Bubble Tea Market Analysis, Growth & Forecast 2027 | Major Tapioca pearls are made from cassava flour, of which Nigeria is the worlds largest exporter (21%). 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. 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. Health beneficial attributes such as low-fat, low-calorie content, and presence of anti-inflammatory properties are the key driving factors of the market. Symptoms of . 19 Shocking Tea Consumption Statistics - BrandonGaille.com The United States and Australia were both introduced to bubble tea in the mid-1990s, and it has been growing in popularity ever since. The option to customize your bubble tea, availability at most cafes, restaurants, convenience, and grocery stores as well as the variety offered has contributed to the market growth. The global organic tea market size was USD 820.8 million in 2019 and it is projected to reach USD 1,918.7 million by 2027, exhibiting a CAGR of 11.2% during the forecast period. A. In this era, the growing consumer preferences for products depend on various factors such as choice of taste, price, brand, and location accessibility. Cook for about 20 minutes. Modern Asian Desserts, expanded its business in the country by introducing various boba milk tea outlets. 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. One cup of tea is assumed to contain 2 grams of tea. 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. 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. In 2020-21, of people aged 18 years and over: 6.4% consumed sugar sweetened drinks daily. Almost overnight bubble tea shops popped up around the world in multiple countries that had never had an interest in it before. Over of the bubble tea enjoyed around the world is fruit-flavored. 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. The global Bubble Tea Market is expected to $4,368.6 million in 2027. | Source: Over 90% of the tea consumed is Black Tea, about 5% Green Tea, 1% Oolong Tea and the balance flavored, scented, or mixed teas. Introduced to China in the early 1990s, it quickly became one of the most popular drinks in the nation. This bubble tea craze has taken over. 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. Cassava flour itself comes from the cassava root, which is native to South America but has become a staple food in many African nations. Over 95% of females in the united states have tried bubble tea, while 81% of males . Young people between ages 20 and 29 are interested in bubble tea. Boba tea is creating a buzz among individuals worldwide, owing to its growing appeal and novelty. (2.Americans rank 25th for coffee consumption per capita, with an average consumption of 4.2 kg per person per year. Tea in Australia | Market Research Report | Euromonitor About | Privacy Policy |Contact | Advertise | Support. Ltd. The availability of different types of milk tea offers numerous options for consumers to enjoy. But in case you dont Its tea served with a giant chewy ball of tapioca at the bottom of the cup. Today, bubble tea consumption in China surpasses that of coffee and many other traditional beverages. Global Bubble Tea Market - Data Bridge Market Research At what CAGR is the bubble tea market projected to grow in the forecast period (2022-2029)? Tea Statistics | Consumption & 2023 Industry Data - Your Best Digs 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. More Insights into the Bubble Tea Market Report. On the basis of flavor, it is categorized into original flavor, coffee flavor, fruit flavor, chocolate flavor, and others. 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. 10. 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. Theory seemed to meet reality . 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! Australia: 0.75 kg (1.65 lb) 17 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. List of countries by tea consumption per capita - Wikipedia Moreover, rise in consumption of flavored bubble tea in young generation fuels thebubble tea market growth. Bubble tea got its name from the tapioca balls because when theyre added to the drink and shaken, the balls expand and pop, creating a popping soundor bubbling.. 15. In addition, due to the presence of artificial preservatives in bubble tea, consumers are changing their preference toward organic beverages, which hampers the growth of the global bubble tea market. Today, millennials, zennials, and gen z account for the vast majority of the countrys bubble tea consumption. Your email address will not be published. Based on the distribution channel, online retailing is expected to exhibit a CAGR of 11.9%. Bubble Tea is a famous non-alcoholic beverage drink that first . Extruding the tapioca into these small balls is difficult work. Based on bubble tea market forecast, the liquid component was the most prominent segment accounting for the highest share in the bubble tea market. The closure of Shanghai . Is Running A Bubble Tea Business In S'pore Actually Lucrative? 3. 04 For a short time in 2012, all 800 branches of McDonalds in Germany sold bubble tea. Theres a lot more to bubble tea than meets the eye, and weve discovered all of the reasons that its a global favorite. 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. The mean age of study participants was 24 years and the age range was 18 or older to younger than 30 years. Contact Sales for Further Assistance in Purchasing this Report @ https://www.futuremarketinsights.com/checkout/12310. 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. Jan 2023. One kilogram therefore represents 500 cup equivalents. As of December 2018, GrabFood's bubble tea network encompasses over 1,500 brands with 4,000 outlets throughout . The global bubble teamarket holds a substantial scope for growthduring the forecast period. 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. Millennial Tea Drinking Stats - Tea continues to gain market share in surprising areas. 2. Deep Vein Thrombosis (DVT) Therapy Market Valuation Worldwide 2023 Bubble tea typically sells for about $3 to $5 for a 16- to 20-ounce serving. Bubble tea is drunk by millions of people around the world every single day, even in countries that you might not expect! With 250 different flavors, it makes sense that there would be different bases to the teas. Data at LGA level is also presented. India is currently 1-0 up in the series, which has seen Indian spinners dominating both the tests in Nagpur and Delhi. We value them as a research company worthy of building long-term relationships., Well done Fortune Business Insights! 13. 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. The report was very accurate and as per my requirements. 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. 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 first appeared in Thailand ten years ago, but since has gone out of market trend, staged a strong comeback, and established itself in the region. If youre looking for a sweet, refreshing drink that doesnt compromise on flavor or quality, bubble tea is the answer. Dietary behaviour, 2020-21 financial year - Australian Bureau of Statistics In global comparison, most revenue is generated in China (US$111,800.00m in 2023). Apart from the U.S. and Asian countries, the trend of milk tea is also extensively growing amongst individuals residing in the Middle East and Africa. Bubble Tea History The industry shows no signs of slowing down, and in fact, appears to be growing exponentially with every passing year. Mineral Premix Market Demand: The global mineral premixes market is expected to reach US$ 761.1 Mn by 2022, accelerating at a CAGR of 8.6% during the forecast period (2022-2032). Were big enough to handle massive projects, and yet also nimble enough to come up with names on demand that hit every time. That means 24 countries have higher consumption rates that are worth targeting. Additionally, they can be ordered with fruit or boba, both of which are high in added sugar. Premium Statistic Global tea consumption 2012-2025 . Driven by Elevated Demand for Healthier Drinks; Bubble Tea How much is the global bubble tea market worth? When we say that bubble tea is insanely popular, were not joking. With shops all around the world in many major cities, its easy to indulge your bubble tea craving when you want to! 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. December 17, 2022. From Farmer Welfare and Supply Chain to the Latest Trends, Tea Experts Share Insights. The global bubble tea market size was valued at USD 2.17 billion in 2021. The value of its market is estimated to be $5.2 billion. For instance, in April 2020, a bubble tea company Chatime launched oat milk-based tea such as Chatime Pearl Milk Tea and Grass Jelly Roasted Milk Tea for lactose intolerant consumers. This can be attributed to the availability of various options such as combination of various liquid flavors and syrups. While bubble tea is enjoyed by people of all ages, it tends to be a global favorite among younger people. Bubble teas distinct flavor, easy product availability, and numerous varieties offered will help the market to flourish. 'Revenge bubble tea drinking': Shanghai awakes from Covid lockdown What may surprise you though is the amount of sugar! However, since the ease of lockdowns, governments have proposed several initiatives and strategies to help the companies in recovering the losses across the globe. Followed by black tea, the green tea segment is expected to hold a major percentage of the market share. USD 1,195. Get a Sample Copy of the Report @ https://www.futuremarketinsights.com/reports/sample/rep-gb-12310. However, the sweeteners segment is expected to witness the highest growth, owing to rise in demand for sweet beverages across the globe. The size of the global Bubble Tea Market in 2019 was $2,407.6 million. Bubble tea, also known as Boba or Boba tea, is rapidly becoming one of the worlds favorite beverages. The average volume per person in the Tea segment is expected to amount to 0.68kg in 2023. . Thailand will emerge as a lucrative market over the forecast period with a CAGR of 8.7%. As per the report, sales will increase at a 4.2% CAGR over the forecast period, reaching US$ 354.6 Mn by 2032. Who are the leading players in the market? The ICC World Test Championship final will be played in The Oval, London from June 7 to 11, where the conditions are pacer-friendly. The boba tea trend continued to soar in its originating region and later spread its attractiveness in other western countries, such as Canada and the U.K., and is now considered a mainstay due to its unique formulation. Tea is one of the most popular beverages consumed worldwide. The prevalence of lifestyle disorders such as obesity and diabetes associated with the hectic lifestyle of consumers has nudged them to shift toward healthy drinks, such as ginger tea and boba teas, due to their easy customization. Who drinks bubble tea? What statistics can tell us about - Australia The types include milk tea, black tea, fresh fruit tea, smoothies or milkshakes, fresh milk, and salted cream.