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. Bubble Tea is a famous non-alcoholic beverage drink that first . Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA. 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. China is projected to exhibit a 7.5% CAGR. After decades of slowly increasing in popularity, the big bubble tea boom happened in 2018. Today, bubble tea consumption in China surpasses that of coffee and many other traditional beverages. This popular sweetened tea is made up of high-quality milk and tapioca pearls, along with fruit powder, creamer, and sweeteners. 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. Pearl Lemon Boba Unit 4 Building, 250 North End Rd, London SW6 1NJ, United Kingdom. Bubble tea can be found on every continent today, except for Antarctica, of course! 2. The Asia Pacific bubble tea market is expected to flourish with multiple market opportunities. Let's assume that the daily maintenance calories for an average adult man are 2,500 kcal, and for an average adult . The drink became popular during the 1990s, just in time for millennials to develop a taste for it. The bubble tea industry is enormous and accounts for one of the fastest-growing food markets in the world today. However, Europeis expected to grow with the highest CAGR throughout the forecast period, owing toaggressive advertising and celebrity brand endorsement and increasein the awareness of bubble tea in theregion. Bubble teas distinct flavor, easy product availability, and numerous varieties offered will help the market to flourish. 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. 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. 5. Girls and women are the primary demographic among bubble tea drinkers, with 95% having tried it. Thailand leads in bubble tea consumption at an average of 6 cups per person per day. The value of its market is estimated to be $5.2 billion. In 2018, bubble tea made a 3,000 . For instance, in September 2020, Chen Shucheng started a new bubble milk tea franchise in Singapore called Meme Xpress. More people are discovering and enjoying bubble tea every year, however, so these figures may soon change as people age and continue to enjoy their favorite drink. When we say that bubble tea is insanely popular, were not joking. According to a recent CLSA survey of consumers, 94% of those aged between 20 and 29 bought boba tea in the last three months, reported Bloomberg (June 24). About 200 million pounds of tea leaves (bagged & loose) are shipped into the United Followed by black tea, the green tea segment is expected to hold a major percentage of the market share. The Mayo Clinic state that up to 400 mg of caffeine a day is probably safe for most healthy adults. Cassava flour itself comes from the cassava root, which is native to South America but has become a staple food in many African nations. Address Shop 14, 375 William Street, Northbridge, Western Australia, WA, Australia 6003 Phone Number 0434039801 Categories Bubble Tea Shop, Tea Room 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. When you look at the marketing for bubble tea, the numbers make sense. Both the at-home and the out-of-home market are valued at retail selling prices including all sales and consumption taxes. In 2018, there were over 450,000 shops selling bubble tea in China. In 2020, China dominated the tea market with 78.7 billion US dollars of revenue. Bubble tea, also known as Boba or Boba tea, is rapidly becoming one of the worlds favorite beverages. 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. 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. Tea consumption per capita in the UK is 1.3 kg for 2019. (Caffeine Informer) 01 The first bubble tea came out in the early 1980s. I appreciate the timeliness and responsiveness of you and your team., (applicable to 1 report only for the same license type), The global bubble tea market is projected to grow from $2.29 billion in 2022 to $3.78 billion by 2029, at a CAGR of 7.40% in the forecast period, 2022-2029, 2020 Fortune Business Insights . I would also like to thank the back end team for offering a continuous support and stitching together a report that is so comprehensive and exhaustive, Please pass on our sincere thanks to the whole team at Fortune Business Insights. We know where we will be getting business intelligence from in the future., Thank you for sending the market report and data. China is a major bubble tea manufacturer. If you love bubble tea and are looking for a make your own bubble tea kit, this is the place! Grab also reported that on average, Southeast Asians drink an average of four cups of pearl milk tea per person per month. 12 Consumption and Demand Forecast 12.1 Global Forecasted Demand Analysis of Deep Vein Thrombosis (DVT) Therapy 13 Forecast by Type and by Application (2023-2028) 13.1 Global Production, Revenue . 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%.. 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. Bubble tea typically sells for about $3 to $5 for a 16- to 20-ounce serving. The forecast period in the global bubble tea market report is 2019-2027. Thanks for sticking with me in this huge post. Pearl Lemon Boba Unit 4 Building, 250 North End Rd, London SW6 1NJ, United Kingdom. In 2016, 19.4 per cent of Due to widespread popularity and prevailing trends as well as the presence of many bubble tea manufacturers in this region, the bubble tea market in China is expected to continue to flourish over the forecast period. The market was expected to reach a valuation of US$ 2.3 Bn by the end of 2021. The out-of-home market, also called on-trade market, away-from-home market or HORECA encompasses all sales to hotels, restaurants, catering, cafs, bars and similar hospitality service establishments. Moreover, higher expenditure of consumers on healthy beverages adds to the popularity of bubble tea in theregion. All rights reserved. In 2014, over 77% of the tea brewed in the United States was prepared using tea bags. Jan 2023. 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. Virtually any flavor that you can imagine exists with bubble tea. 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. Changes in consumers tastes and preferences have fostered growth for the bubble tea market over the forecast period. Millennial Tea Drinking Stats - Tea continues to gain market share in surprising areas. 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 rise in online food delivery (OFD) applications has increased access to a myriad of ready-to-eat options, which may lead to unhealthier food choices. 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. However, the green tea segment is expected to grow at the highest CAGR throughout the forecast period, owing to growth innumber of health conscious consumers worldwide. 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. Moreover, rise in consumption of flavored bubble tea in young generation fuels thebubble tea market growth. The Market for Bubble Tea in North America to be the Most Dominant & Fastest Growing. Many Thai people drink bubble tea daily, and in many cases may drink multiple cups per day. 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. CXOs from the leading companies perceive that product innovation, development of newer flavor, and use of organic preservatives & color in the manufacturing process are the major areas of growth for the bubble tea market. Companies, such as Lollicup U.S.A. Inc., Gong Cha, Chatime, and others, have invested in research and development activities to offer new variants of tea for a growing market. Rising consumption of tea and coffee as nootropic drinks among students and working-class population is a key factor for the market growth. Bubble tea (also known as pearl milk tea, bubble milk tea, boba juice, boba tea, or simply boba) is a Taiwanese tea-based drink invented in Tainan and Taichung in the 1980s. Interesting Facts. China is one of the prominent regions in the market that accounted for a sizeable share of the total market in 2019. However, the chocolate flavor segment is expected to witness highest growth, owing to increase in its popularity of in all age groups for all flavored beverages and rise in awareness of health benefits of chocolate among consumers. In addition, the growing gastronomic tourism, rising number of health-conscious individuals, and increased social media influences further paved the way toward growing potential. That means 24 countries have higher consumption rates that are worth targeting. Whether youre feeling something sweet, fruity, and refreshing, something soothing and tea-like, or a slushy smoothie like-drink, bubble tea has you covered. Future Market Insights Global and Consulting Pvt. Find the most up-to-date statistics and facts on the tea market in Canada. https://www.grandviewresearch.com/industry-analysis/bubble-tea-market, https://foodinstitute.com/focus/survey-millennials-gen-z-big-fans-of-bubble-tea/, https://youthinsight.com.au/brands/more-girls-aware-of-bubble-tea-than-boys/, https://www.cnn.com/travel/article/taiwan-bubble-tea-origins/index.html, https://www.duluthnewstribune.com/8-things-you-might-not-know-about-bubble-tea-and-other-unexpected-holidays-this-week, https://www.fortunebusinessinsights.com/industry-reports/bubble-tea-market-101564, https://www.organicfacts.net/health-benefits/herbs-and-spices/bubble-tea.html, https://chinamarketadvisor.com/what-is-boba-and-why-is-it-so-popular/, https://theaseanpost.com/article/southeast-asias-bubble-tea-craze, https://www.worldteanews.com/Insights/millennials-and-gen-z-drive-21st-century-tea-preferences, https://www.honestfoodtalks.com/bubble-tea-flavors-boba-toppings/, https://www.healthline.com/nutrition/boba-cancer, https://mtalvernia.sg/education/whats-in-my-bubble-tea/, Tea thats infused with milk or another liquid, Artificial sweetener like stevia or sugar (more on this below), Special straws designed to make the best bubbles possible. Clicking on the following button will update the content below. Bubble Tea Market Outlook (2022-2032) [324 Pages Report] The global bubble tea market is projected to have a rapid-paced CAGR of 8.8% during the forecast period. 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. To know how our report can help streamline your business, Speak to Analyst, Shift of Consumers toward Black Tea Due to its Health-Imparting Properties Boosts Market's Performance. 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. There are many teas, they can vary in . 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. Each . Remarkable job and great efforts by your research team. Insights. Kenya is one of the main global tea exporters and as a result, it is no surprise that Kenyans love their tea, in particular black tea, though in 2022, fruit/herbal tea registered the highest current value growth. 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. This bubble tea craze has taken over. 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 adoption of bubble tea has been quite high in mature regions such as the U.S., Canada, and Germany while emerging countries such as China, Brazil, and India are catching up quickly. By component, it is classified into flavor, creamer, sweetener, liquid, tapioca pearls, and others. 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. Online retailing is predicted to register an 11.9% CAGR. Bubble tea truly is an international drink! Over 95% of females in the united states have tried bubble tea, while 81% of males . However, since the ease of lockdowns, governments have proposed several initiatives and strategies to help the companies in recovering the losses across the globe. For instance, in June 2022, Frankly, the first Italian bubble tea chain, witnessed a massive increment of around 148% compared to the previous years via a crowdfunding campaign. A. 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. 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. Bubble Tea Market size was estimated at $2.1 billion in 2020, projected to increase at a CAGR of 6.8% during the forecast period 2021-2026. Over 90% of the tea consumed is Black Tea, about 5% Green Tea, 1% Oolong Tea and the balance flavored, scented, or mixed teas. The price might seem high, but you have to consider everything that goes into making it, which includes: On the surface, bubble tea seems like a simple drink. Manufacturers are capitalizing on improving the functionality of boba drinks ingredients to cater to the rising demand from consumers. Other players operating in the market are Boba Box Limited, Fokus Inc., Sumos Sdn Bhd, Troika J.C. (Qbubble), and Boba Tea Company. The growing interest of consumers in innovative beverages with bold flavors and their willingness to experiment with various flavors is captivating the consumers attention, which contributes to fueling the market growth. Besides this, due to its various attributes, such as low-fat and low-calorie content and other several health benefits, such as high antioxidant value, it also boosts the consumption of bubble tea across the domestic and international markets. Resistant Starch Market Size: The resistant starch market is valued at US$ 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. Europe also witnessed growth in the pearl milk tea market around the same time as other Asian countries. Bubble tea is a mix of milk, tea, and fruit juice with added bubbly-looking toppings (like tapioca balls). Young people between ages 20 and 29 are interested in bubble tea. Introduced to China in the early 1990s, it quickly became one of the most popular drinks in the nation. Read More . One such brand riding that success locally is Chatime, a Taiwanese-founded bubble tea business which chose Australia as its first-ever Western market almost 10 years ago in 2009. The article shared insights on the bubble tea craze in Southeast Asia. October 26, 2021 13:00 ET | Source: Fortune Business Insights. With 38 grams per 16oz beverage, bubble tea should be enjoyed in moderation. The two most popular varieties are bubble milk tea with tapioca and bubble milk green tea with tapioca. On the basis of flavor, it is categorized into original flavor, coffee flavor, fruit flavor, chocolate flavor, and others. In 2019, tea revenue globally is about US$214,761m and is expected to grow each year by 6.9% until 2023. This means, market totals are not comparable to published data from prior years. The appearance of the finished drink is what led to its name. Request a Free sample to learn more about this report. By 2025, 70% of spending and 10% of volume consumption in the Tea segment will be attributable to out-of-home consumption (e.g., in bars and restaurants).
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