Looking forward to work together on similar projects, We appreciate the teamwork and efficiency for such an exhaustive and comprehensive report. How much is the global bubble tea market worth? Who are the leading players in the market? Accelerated demand for healthier beverage alternatives to carbonated drinks coupled with shifts in consumer preferences is fueling market growth for bubble tea. Online retailing is predicted to register an 11.9% CAGR. 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. Chewy tapioca balls or different flavored jellies are then added to give bubble tea the fun, chewy texture that it is known for! 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. Cassava flour itself comes from the cassava root, which is native to South America but has become a staple food in many African nations. The market for Tea segment is expected to show a volume growth of 1.6% in 2024. For one, there are all of the sweet flavors and fun combinations of ingredients you can get. In this era, the growing consumer preferences for products depend on various factors such as choice of taste, price, brand, and location accessibility. Worldwide Tea Statistics. 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. bubble tea popularity statistics singapore; how many bubble tea brands in singapore; Bubble Tea Popularity Statistics Singapore . To get the sample of bubble tea market report, click on the link (Please paste the link here). In 2016, 19.4 per cent of A. Which is the leading segment based on the product type in the market? By continuing to visit this site you agree to our use of cookies . Press release from: Analytics Market Research. 2023 Allied Market Research. There are many teas, they can vary in . "Market Intelligence that Adds Flavour to Your Success", Region : Global | Format: PDF | Report ID: FBI101564. According to the Indian Tea Association 2020, tea price has risen by 25%-40% on an average due to lockdown in the tea growing regions, leading to a drop in crop size along with disruptions in transportation and logistics. 10. Bubble tea truly is an international drink! Remarkable job and great efforts by your research team. Introduced to China in the early 1990s, it quickly became one of the most popular drinks in the nation. 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. By base ingredient, it is divided into black tea, green tea, oolong tea, and white tea. 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$3.39 billion by 2027. The price per unit in the out-of-home market always references the total price over the amount of tea consumed, regardless of the other components of the finished beverage. For those looking to cut back on sugar, bubble tea may not be the best choice. Europe is expected to witness significant growth during the forecast period of 2022 to 2029 because of the increase in the demand for healthy hot beverages in the region. 3. Get a Sample Copy of the Report @ https://www.futuremarketinsights.com/reports/sample/rep-gb-12310. Over 95% of females in the united states have tried bubble tea, while 81% of males . Facebook: quarterly number of MAU (monthly active users) worldwide 2008-2022, Quarterly smartphone market share worldwide by vendor 2009-2022, Number of apps available in leading app stores Q3 2022. 5. Extruding the tapioca into these small balls is difficult work. Rising consumption of tea and coffee as nootropic drinks among students and working-class population is a key factor for the market growth. Synthetic Food Colors Market Outlook: The global synthetic food colors market size is estimated to be valued at US$ 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. Both the at-home and the out-of-home market are valued at retail selling prices including all sales and consumption taxes. Market size and forecast, by Base Ingredient, 2020-2028 7.3.9.2. Originating in Taiwan, the drink typically consists of tea, milk/cream, and sugar accompanied by tapioca pearls. 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). 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. Boba tea, or "bubble tea," has been around since the late 1980s in Taiwan. Add the ice cubes, and shake so the whole drink can get cold. 5. Tea is one of the most popular beverages consumed worldwide. The report segments the global bubble tea market based on base ingredient, flavors, component, and region. 10. More Insights into the Bubble Tea Market Report. Health Benefits Associated with Bubble Tea Consumption to Drive the Market Growth . 15. Tea stands were set up in front of the schools and would compete for business with the best selling tea. Today, millennials, zennials, and gen z account for the vast majority of the countrys bubble tea consumption. Tea is a large part of modern Australian culture due to its British origins. Theory seemed to meet reality . Some specialty shops have menus with smaller sizes and prices as low as $2 to $3 per serving. The drink became popular during the 1990s, just in time for millennials to develop a taste for it. Bakery Products Market Share: The global bakery products market is estimated to reach US$ 235 Mn in 2022. What are the key factors driving the market? In 2018, bubble tea made a 3,000 . Its not just the sugar that gives these drinks their sweetness, though; many restaurants also add sweeteners to them. 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. Virtually any flavor that you can imagine exists with bubble tea. It's common for bubble tea brands to include "cha" in their names, which means "tea" in Chinese. 2. Almost overnight bubble tea shops popped up around the world in multiple countries that had never had an interest in it before. Quick Facts. Virtually any fruit that you can think of can be enjoyed in a bubble tea drink. In 2018, there were over 450,000 shops selling bubble tea in China. 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. Additionally, due to Australia's climate, tea is able to be grown and produced in northern Australia. The Market for Bubble Tea in North America to be the Most Dominant & Fastest Growing. 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. 30.7% of Victorian adults consumed sugar-sweetened soft drinks at least once a week. Chatime, Gong Cha, Coco Fresh Tea & Juice, and Lollicup USA, Inc. are the leading players in the market. Read More . The global Bubble Tea Market is expected to $4,368.6 million in 2027. 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. It is made using green tea, white tea, black tea, or oolong tea. Asia Pacific is expected to dominate the market during the forecast period. 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. Rising Raw Material and Transportation Cost Due to the Pandemic to Slow Down the Market Growth. Request Now ! According to a recent consumer study, 94% of people between ages 20 and 29 have purchased bubble tea within the last 3 months. 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%.. The Middle East & Africa showcases a slower growth as pearl milk tea is consumed as a social drink or as a gesture of hospitality. Bubble Tea originated in Taiwan in the early 1980's at a small tea stand. Jan 2023. This growth is fueled by the perceived health benefits of green tea. Health beneficial attributes such as low-fat, low-calorie content, and presence of anti-inflammatory properties are the key driving factors of the market. 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. Bubble Tea Popularity Statistics Singapore; by palmebre Published: July 20, 2021 (2 days ago) Category. 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. Art & Craft. Tapioca pearls are made from cassava flour, of which Nigeria is the worlds largest exporter (21%). In addition, the growing gastronomic tourism, rising number of health-conscious individuals, and increased social media influences further paved the way toward growing potential. In fact, tea was aboard the First Fleet in 1788. The industry shows no signs of slowing down, and in fact, appears to be growing exponentially with every passing year. Black tea is the most consumed tea around the world. About 200 million pounds of tea leaves (bagged & loose) are shipped into the United The segment is expected to display an 11.4% CAGR, and account for more than 38% of the global market share. During the late 1980s and into the 1990s, bubble tea was only consumed in a select few countries including Taiwan, Hong Kong, China, and Japan. Interesting Facts. Bubble tea can be found on every continent today, except for Antarctica, of course! China is a major bubble tea manufacturer. Besides this, due to its various attributes, such as low-fat and low-calorie content and other several health benefits, such as high antioxidant value, it also boosts the consumption of bubble tea across the domestic and international markets. 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. +44 208 097 3636. How Much Is the Bubble Tea Industry Worth. Graph. South America is anticipated to grow in terms of sales volume of the products in the coming years. 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. Nearly everyone in Thailand enjoys drinking bubble tea, to the point that they have surpassed every other country in the amount that they drink!