Thank you!, I recommend Fortune Business Insights for their honesty and flexibility. 5. 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. 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. In this era, the growing consumer preferences for products depend on various factors such as choice of taste, price, brand, and location accessibility. Teenagers and people in their 20s consistently account for the highest consumer percentage of bubble teas. 84% of the tea that is consumed is black tea. The current valuation of the market is US$ 2.50 billion in 2022. 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. 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 for contacting us, our sales representative will get in touch with you shortly! 10. Consumer Shift toward Healthy Alternatives to Favor Growth. Brands such as CHATIME and Bubbolitas established their first production units of boba drinks in 2009, and since then, the market has witnessed a growth trajectory. Methods: Self-report questionnaires were used to assess bubble tea consumption and mental status. But did you know that there are six different types of bubble tea? Add the ice cubes, and shake so the whole drink can get cold. According to NCBI, healthy and natural ingredients such as green tea help in preventing weight gain and also in inducing weight loss when consumed regularly. South America is anticipated to grow in terms of sales volume of the products in the coming years. 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. Based on the distribution channel, online retailing is expected to exhibit a CAGR of 11.9%. Tea is considered the second most popular drink of choice worldwide. Bubble tea is a drink made from tea (usually black tea), milk, syrup, and a special ingredient that captivates the hearts of Chinese people: tapioca pearls. Find the most up-to-date statistics and facts on the tea market in Canada. 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. Adults' total beverage consumption drops steadily with age. In the United States, 95% of women have tried bubble tea as opposed to 81% of men. A typical serving of bubble tea at a chain might cost $3 to $5 for a 16- to 20-ounce cup. This cross-sectional study investigated the association between bubble tea consumption and symptoms of anxiety and depression in a population-based sample. Ready to drink tea products have seen a 15x increase in sales and consumption since 2004. The market is expected to grow at a CAGR of 7.40%, during the forecast period. In 2019, the black tea segment accounted for more than half of the share in the total bubble tea market and is expected to grow at a CAGR of 7.50% throughout the forecast period. Thank you Fortune Business Insights for your efforts and prompt response, I had a great experience working with Fortune Business Insights. Nearly everyone in Thailand enjoys drinking bubble tea, to the point that they have surpassed every other country in the amount that they drink! Countries in North America are gradually increasing the consumption of this tea owing to the growing popularity of tea-based drinks. Save my name and email in this browser for the next time I comment. A. Which is the leading segment based on the product type in the market? With 250 different flavors, it makes sense that there would be different bases to the teas. Bakery Products Market Share: The global bakery products market is estimated to reach US$ 235 Mn in 2022. Among various flavors, fruit flavor is more popular, and this segment dominated the market in 2019. Get in touch with us. 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 . Tea is the second most popular drink in the world, with water at first place. 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. 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. 14. At what CAGR is the bubble tea market projected to grow in the forecast period (2022-2029)? Rising Raw Material and Transportation Cost Due to the Pandemic to Slow Down the Market Growth. In 2004, daily beverage consumption of 19- to 30-year-olds averaged 2,610 grams for men and 2,056 grams for women (Table 1). 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 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. Many Thai people drink bubble tea daily, and in many cases may drink multiple cups per day. 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 . Until 2025, the tea market in Philippines is forecast to reach 109.79 million USD (in retail prices), thus increasing at a CAGR of 6.70% per annum for the period 2020-2025. 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 . 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 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. The chewy tapioca balls or pearls are undoubtedly the stars of any bubble tea drink. 2016. Interesting Facts. Bubble tea made a rise in popularity in 2018 with a 3000% increase in orders from Southeast Asia. Bubble milk tea has a strong market potential as it offers various types and flavors of boba teas, such as fruit-flavored, green jasmine, and black tea-based milk tea, across the globe. 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. 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. The Middle East & Africa showcases a slower growth as pearl milk tea is consumed as a social drink or as a gesture of hospitality. 04 For a short time in 2012, all 800 branches of McDonalds in Germany sold bubble tea. Bubble tea typically sells for about $3 to $5 for a 16- to 20-ounce serving. Rising consumption of tea and coffee as nootropic drinks among students and working-class population is a key factor for the market growth. Request Now ! Unilever (Lipton), Associated British Foods (Twinings) and Tata Global Beverages (Tetley) are globally the most important players by revenue. The global bubble tea market size was valued at USD 2.17 billion in 2021. The at-home market, also called off-trade market, covers all retail sales via super- and hypermarkets, convenience stores or similar sales channels. making yummy bubble tea with BBT Club today. Sometimes they are blended with ice to give them a more slushy-like consistency. If youre looking for a sweet, refreshing drink that doesnt compromise on flavor or quality, bubble tea is the answer. USD 1,195. Press release from: Analytics Market Research. The market was expected to reach a valuation of US$ 2.3 Bn by the end of 2021. 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. In addition, aggressive advertisements and celebrity end orsements have also helped the global market to pave its way toward growth. Companies in the Industry are Aggressively Expanding their Franchisees to Cater to the Growing Demand. After decades of slowly increasing in popularity, the big bubble tea boom happened in 2018. 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. The research report includes quantitative and qualitative insights into the market. 8. 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 . A. Bubble Tea Market size was estimated at $2.1 billion in 2020, projected to increase at a CAGR of 6.8% during the forecast period 2021-2026. More Insights into the Bubble Tea Market Report. Apart from this, coffee flavor is also anticipated to hold a strong market share in the forecast period owing to the escalated demand for coffee as a healthy beverage. That means 24 countries have higher consumption rates that are worth targeting. The black tea segment is expected to be the leading segment in the global market. Originally created in Taiwan in the 1980s, bubble tea has quickly exploded in popularity. Resistant Starch Market Size: The resistant starch market is valued at US$ 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. Australia: 0.75 kg (1.65 lb) 17 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. According to Fortune Business Insights, the Asia Pacific region holds the largest market share and is expected to grow at a compound annual growth rate (CAGR) of 10.07 per cent by 2027. That is approximately four cups of brewed coffee, 10 cans of cola or two "energy shot . 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. Find your information in our database containing over 20,000 reports, Consumer Market If theres one thing you can count on, its that bubble tea is going to be more popular among women than men. Against this backdrop, the market valuation is projected to reach US$ 245 Mn by 2032. An average, medium-sized serving of bubble tea has, on average, 335 calories. The incredible success of bubble tea in China since 1996. This bubble tea craze has taken over. Read More . The average volume per person in the Tea segment is expected to amount to 0.68kg in 2023. Chocolate flavored milk tea is tremendously popular in which chocolate powder is blended with milk to strengthen its flavor. Europe also witnessed growth in the pearl milk tea market around the same time as other Asian countries. These organizations are focusing on product innovation and targeting the millennial consumer as the group is known for its willingness to experiment with new flavors. This is likely due to its naturally sweet flavor and all of the different varieties of teas that are available. FB : Beverages| Pages: 261 | Author(s) : Vaibhav S , Roshan D, Single User License, Five User License & Enterprise User License. Statista. We know where we will be getting business intelligence from in the future., Thank you for sending the market report and data. It should be no surprise then that sugar is a primary ingredient in the drink. With globalization, new trends have started striking the food service market, thereby influencing the young generation to try new beverages. 1 2 3 8. Bubble tea is a sweet, delicious drink typically made from a tea base that is then mixed with either milk or fruit flavoring. The devotion to bubble tea is so fanatical that in 2020, at the cusp of the circuit breaker, an argument broke out between a food rider and store employees about a hold-up in orders. 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. The market value of the bubble tea market is anticipated to reach a high of US$ 5.82 billion by the year 2032. BBT Club is Australia's leading DIY bubble tea company for anywhere and anytime. 7. 4. Nevertheless, manufacturers are trying to introduce new beverage options, such as bubble milk tea, in the market. It looks like the bubble tea craze isn't going anywhere soonat least, according to GrabFood data that states bubble tea orders in Southeast Asia saw a 3,000 percent growth rate in 2018. Accelerated demand for healthier beverage alternatives to carbonated drinks coupled with shifts in consumer preferences is fueling market growth for bubble tea. Pour tea, milk, and 4 teaspoons sugar into a cocktail shaker. Of the 30 countries that enjoy bubble tea, most are in Asia. 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 . It also offers a detailed analysis of the market size and growth rate for all possible market segments. Ltd. The bubble tea industry is enormous and accounts for one of the fastest-growing food markets in the world today. Aug 16, 2022, 1:25 PM SGT.

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