WASHINGTON, Feb. 07, 2023 (GLOBE NEWSWIRE) -- The Global Bubble Tea Market is valued at USD 2.7 Billion in 2021 and is projected to reach a value of USD 4.2 Billion by 2028 at a CAGR (Compound Annual Growth Rate) of 7.5% over the forecast period 2022-2028.
Market Overview
One of the primary elements fostering a favorable outlook for the market is the significant increase in the food and beverage sector worldwide. Additionally, increased health consciousness among the populace and growing knowledge of the advantages of regular bubble tea intake are fueling market expansion.
We forecast that the fruit flavor category in bubble tea market sales will account for more than 24% of total sales by 2028. Due to its higher nutritional content than other types, its variety of flavors, and the high consumer desire for it, this section of the tea market is anticipated to expand significantly over the forecast period.
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Market Dynamics
Wide Product Selection Attracting Millennials to Accelerate Growth
The market offers a variety of sorts and tastes, including fruit-flavored, green jasmine, and black tea. There are several varieties of fruit-flavored tea, including sweetened fruit drinks and cream drinks with fruit flavoring. The lactose-intolerant population has access to black, green jasmine, and other tea varieties. The consumer has additional alternatives thanks to the availability of wide boba tea varieties. This marketing tactic aids in bringing in more customers. To draw customers, its stores are also introducing new flavors and compositions. Millennials' need for premium tea kinds with distinctive flavor options has also caused them to gravitate toward such items, contributing to the industry's expansion.
Consumer Movement Toward Healthier Options to Support Growth
Consumers are turning to sugar substitutes like stevia, agave, and honey due to diseases like obesity and diabetes linked to an increase in sugar intake. These kinds of natural sweeteners are used to replace or lower sugar in boba tea. Diabetics and health-conscious individuals over sugar prefer these natural sweeteners. Due to these goods' advantageous characteristics, such as their antioxidant, anti-inflammatory, and anti-carcinogenic capabilities, consumers strongly like them.
Top Players in the Global Bubble Tea Market
- Bobabox Limited (UK)
- Bubble Tea House Company (US)
- Cuppotee (Taiwan)
- Fokus Inc. (Taiwan)
- Gong Cha (UK)
- Lollicup USA Inc. (US)
- Sumo's (M) Sdn Bhd (Malaysia)
- Ten Ren's Tea Time (US)
- The Bubble Tea Company (US)
- Troika JC (US)
For Additional Information on Bubble Tea Market Players and Detail List, Download a Report PDF Brochure
Top Trends in Global Bubble Tea Market
- One trend that Vantage Market Research (VMR) expects to see in the bubble tea industry is the rise in the consumption of tea and coffee as nootropic beverages among students and working-class people. Due to its simplicity of preparation, tea is often consumed by those who lead busy lives at work and contributes to the market's expansion.
- Another trend that VMR predicts will continue in the bubble tea industry is the increasing prevalence of cardiovascular diseases. The prevalence of diabetes, oral bacteria, and cardiovascular disorders is rising, accelerating market expansion. The prevalence of these disorders is known to be decreased by bubble tea.
Top Report Findings
- Based on Base Ingredients, most of the bubble tea market's revenue is controlled by the black tea category because more health-conscious people worldwide choose it. One of the main aspects that will support the expansion of this category and assist it in leading the market is the movement in consumer preference for natural and organic food and beverage items.
- Based on Flavor, most of the bubble tea market's revenue is controlled by the fruit flavor category. The primary driver fueling the segment's growth is the accessibility of many fruit tastes, including strawberry, passion fruit, mango, pineapple, cantaloupe, watermelon, grape, lychee, peach, honeydew, kiwi, avocado, coconut, and banana.
- Based on Components, most of the bubble tea market's revenue is controlled by the liquid category. The availability of a wide range of alternatives, including combinations of different liquid tastes and syrups, explains this.
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Recent Developments in the Global Bubble Tea Market
- March 2022: Google announced that they would be launching the Last Mile Fleet Solutions and Cloud Fleet Routing API for marketing their fleet operators. This announcement is expected to improve the delivery process and meet the upcoming challenges caused by the pandemic.
- March 2022: Microsoft announced the Azure Private Link Support for API management service. With this announcement, consumers can configure a private endpoint for their API management instances for clients within their private networks over Azure Private Link in a secure manner.
Black Tea Category in Bubble Tea Market to Generate Over 30% Revenue
Vantage Market Research has analyzed the market for bubble tea to understand its current state and potential future growth factors. For better understanding, based on the base ingredient, the bubble tea market is divided into black tea, green tea, oolong tea, and white tea.
During the forecast period, the market for bubble tea is anticipated to experience the highest CAGR for the black tea category. This expansion is credited with black tea's genuine, unadulterated natural flavor. Additionally, the beverage enhances gut health and lowers blood sugar levels and bad cholesterol. Additionally, it serves as a fantastic source of antioxidants.
On the other hand, the green tea category is anticipated to grow significantly in the forecast period. The development can be due to people becoming more aware of the advantages of green tea for their health.
North America Region in Bubble Tea Market to Generate More 34% Revenue
North America dominates the market, and this trend will continue throughout the projection period due to the region's widespread consumption of bubble tea. In the upcoming years, the bubble tea industry is anticipated to experience robust expansion due to the region's growing inclination for creative and healthier varieties of beverages.
Browse market data Tables and Figures spread through 142 Pages and in-depth TOC on Bubble Tea Market Forecast Report (2022-2028).
Global Bubble Tea Market Segmentation
By Base Ingredient
- Black Tea
- Green Tea
- Oolong Tea
- White Tea
By Flavor
- Original Flavor
- Coffee Flavor
- Fruit Flavor
- Chocolate Flavor
- Others
By Component
- Flavor
- Creamer
- Sweetener
- Liquid
- Tapioca Pearls
- Others
By Region
- North America
- United States
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- South-East Asia
- Rest of Asia Pacific
- Latin America
- Brazil
- Argentina
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of MEA
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Scope of the Report:
| Report Attributes | Details |
| Market Size in 2021 | USD 2.7 Billion |
| Revenue Forecast by 2028 | USD 4.1 Billion |
| CAGR | 7.5% from 2022 to 2028 |
| Base Year | 2021 |
| Forecast Year | 2022 to 2028 |
| Key Players | Bobabox Limited, Bubble Tea House Company, Cuppotee, Fokus Inc., Gong Cha, Lollicup USA Inc., Sumo's (M) Sdn Bhd, Ten Ren's Tea Time, The Bubble Tea Company, Troika JC |
| Customization Options | Customized purchase options are available to meet any research needs. Explore customized purchase options |
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