Revenue in the Tea segment amounts to US$1.40bn in 2023. December 17, 2022. Which is the leading segment based on the product type in the market? By flavor, the market is classified into coffee, fruit, chocolate, original, and others. Bubble tea is a mix of milk, tea, and fruit juice with added bubbly-looking toppings (like tapioca balls). Future Market Insights Inc.Christiana Corporate,200 Continental Drive,Suite 401, Newark,Delaware - 19713, USAT: +1-845-579-5705Report: https://www.futuremarketinsights.com/reports/bubble-tea-marketFor Sales Enquiries: sales@futuremarketinsights.comBrowse all Reports: https://www.futuremarketinsights.com/reportsLinkedIn|Twitter|Blogs. All these aspects necessitate the manufacturers to develop premium quality teas by keeping the consumer demands in mind. Accelerated demand for healthier beverage alternatives to carbonated drinks coupled with shifts in consumer preferences is fueling market growth for bubble tea. What are the key factors driving the market? The value of its market is estimated to be $5.2 billion. Since our launch, weve worked on more than 1,000 projects for clients around the world. Its not just the sugar that gives these drinks their sweetness, though; many restaurants also add sweeteners to them. An average, medium-sized serving of bubble tea has, on average, 335 calories. It is made using green tea, white tea, black tea, or oolong tea. 01 The first bubble tea came out in the early 1980s. 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. 10. We value them as a research company worthy of building long-term relationships., Well done Fortune Business Insights! The bubble tea industry was valued at $2.2 billion in 2019. This segment does not include herbal tea, instant tea, iced tea or similar tea-derived Ready-to-Drink beverages. 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. Moreover, rise in consumption of flavored bubble tea in young generation fuels thebubble tea market growth. 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. As of December 2018, GrabFood's bubble tea network encompasses over 1,500 brands with 4,000 outlets throughout . 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. Changes in consumers tastes and preferences have fostered growth for the bubble tea market over the forecast period. 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. Request a Free sample to learn more about this report. a more convenient consumption option, compared with hot cereals, which can require the addition of boiling water or milk. 1.In 2019, 64% of Americans aged 18 and over drank coffee every day. Young people between ages 20 and 29 are interested in bubble tea. Thanks for sticking with me in this huge post. The key players in the industry receiving high levels of popularity and response from customers are franchising their businesses into different locations. With shops all around the world in many major cities, its easy to indulge your bubble tea craving when you want to! 10. 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. Bubble Tea originated in Taiwan in the early 1980's at a small tea stand. A. 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. A. 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. The major countries in each region are mapped according to their revenue contribution to the global bubble tea market. 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. Pearl Lemon Boba Unit 4 Building, 250 North End Rd, London SW6 1NJ, United Kingdom. Availability of Other Caffeinated Drinks to Impede Growth. Art & Craft. For instance, in September 2020, Chen Shucheng started a new bubble milk tea franchise in Singapore called Meme Xpress. Nearly everyone in Thailand enjoys drinking bubble tea, to the point that they have surpassed every other country in the amount that they drink! In 2020, China dominated the tea market with 78.7 billion US dollars of revenue. 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. Some of the most popular fruit flavors include strawberry, blueberry, green apple, pineapple, passion fruit, mango, lemon, watermelon, grape, peach, cantaloupe, banana, and kiwi among others. 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 . Emerging countries such as China, India and Brazil growing with the CAGR of 8%, 9.5%, and 8.3% respectively. Worldwide Tea Statistics. 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. Your email address will not be published. After experiencing a downfall due to fierce market competition in 2003, the bubble tea market was revived in 2007 with the entry of several foreign brands. A South Australian Health Omnibus Survey (SAHOS) done in 2014 showed that there was a . Ltd. 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. Aug 16, 2022, 1:25 PM SGT. When you look at the marketing for bubble tea, the numbers make sense. Followed by black tea, the green tea segment is expected to hold a major percentage of the market share. 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. Asia Pacific Bubble Tea Market Size, 2021 (USD Billion), To get more information on the regional analysis of this market, Request a Free sample. Tea is a beverage made by pouring hot water over cured leaves. Bubble teas distinct flavor, easy product availability, and numerous varieties offered will help the market to flourish. 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. 11. The bubble tea market in Thailand is predicted to register an 8.7% CAGR. 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. How much is the global bubble tea market worth? Bubble tea consumption gender-wise: According to the statistics, bubble tea is a favorite drink of women. This is a list of countries ordered by annual per capita consumption of tea, as of 2016. This is a very good piece of work and will be very helpful to us going forward. Based on our analysis, the global market exhibited a slower growth of 2.76% in 2020 as compared to 2019. The bubble tea market was valued at $2.4 billion in 2019 and is estimated to reach $4.3 billion by 2027, registering a CAGR of 7.80% from 2020 to 2027. Tartrazine Market Trend: Global tartrazine market is projected to reach a valuation of US$ 120 Mn in 2022, with demand growing at a 7.0% CAGR over the forecast period. Originating in Taiwan, the drink typically consists of tea, milk/cream, and sugar accompanied by tapioca pearls. The bubble tea market in Singapore has a long history and is expected to exhibit a prosperous future with a CAGR of 10.7% over the forecast period. Increasing Inclination of Consumers toward Versatile Teas with Innovative Bold Flavors is a Prominent Trend. Thank you!, I recommend Fortune Business Insights for their honesty and flexibility. Get a Sample Copy of the Report @ https://www.futuremarketinsights.com/reports/sample/rep-gb-12310. One kilogram therefore represents 500 cup equivalents. 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. 1. 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! Its iced or hot black or green tea mixed with chewy tapioca balls that are often flavored. 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. Although people of all ages frequently enjoy bubble teas across the globe, younger people tend to drink them more frequently. Find the most up-to-date statistics and facts on the tea market in Canada. Online retailing is predicted to register an 11.9% CAGR. The bubble tea industry is enormous and accounts for one of the fastest-growing food markets in the world today. One cup of tea is assumed to contain 2 grams of tea. 2023 Allied Market Research. For people aged 71 or older, the figures were substantially lower, at 1,584 grams and 1,532 grams, respectively. Almost overnight bubble tea shops popped up around the world in multiple countries that had never had an interest in it before. 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. The Asia Pacific bubble tea market is expected to flourish with multiple market opportunities. These latest product ranges further act as a marketing strategy to attract a vast consumer base worldwide. Boba tea is creating a buzz among individuals worldwide, owing to its growing appeal and novelty. 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. Six in ten (59.7%) did not usually consume either sugar sweetened or diet drinks. 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. But did you know that there are six different types of bubble tea? Tea is one of the most popular beverages consumed worldwide. Contact Sales for Further Assistance in Purchasing this Report @ https://www.futuremarketinsights.com/checkout/12310. In addition, the companies are focusing on the growing incidences of lactose intolerance, and thus are working toward introducing lactose-free bubble milk tea options for individuals. 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. We are happy to help. 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.. Bubble tea . It includes flavor variants such as lychee, mango, passion fruit, peach, plum, strawberry, avocado, banana, grape, kiwi, lemon, and others. According to a recent consumer study, 94% of people between ages 20 and 29 have purchased bubble tea within the last 3 months. Today, bubble tea consumption in China surpasses that of coffee and many other traditional beverages. This bubble tea craze has taken over. A. When we say that bubble tea is insanely popular, were not joking. 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. India and Australia will lock horns in the Third Test of the ongoing Border-Gavaskar Trophy at Indore's Holkar Cricket Stadium from March 1 onwards. This is for a full-sugar serving that contains 60 g of sugar. The global bubble teamarket holds a substantial scope for growthduring the forecast period. China is a major bubble tea manufacturer. page 1 . 7.3.9.1. For those looking to cut back on sugar, bubble tea may not be the best choice. Countries such as Vietnam and Taiwan are projected to have the largest sales. Ready to drink tea products have seen a 15x increase in sales and consumption since 2004. Bubble milk teas surge in popularity is mainly attributed to taste, affordability, and the rising reinvention of the basic tea recipe. Bubble tea has a sweet, sour, and tangy taste that varies depending on the type of fruit used. Ask an Analyst@ https://www.futuremarketinsights.com/ask-question/rep-gb-12310, Explore FMIs Extensive Coverage on Food and Beverage Domain. Australians drink tea and have afternoon tea and morning tea much the way the British do.

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