Each . The Tea segment in Australia is projected to grow by 2.61% (2023-2025) resulting in a market volume of US$1.47bn in 2025. . Tea in Kenya. 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. Bubble Tea is a famous non-alcoholic beverage drink that first . 30.7% of Victorian adults consumed sugar-sweetened soft drinks at least once a week. The price for bubble tea depends on where you get it. October 26, 2021 13:00 ET | Source: Fortune Business Insights. Although people of all ages frequently enjoy bubble teas across the globe, younger people tend to drink them more frequently. All rights reserved. In fact, tea was aboard the First Fleet in 1788. The chocolate segment is projected to have the fastest growth in the coming years due to increasing demand for chocolate-based drinks from every age group. DUBAI, U.A.E., Aug. 12, 2020 /PRNewswire/ -- The bubble tea market is expected to rise at a year-on-year growth rate of 8% from 2020-2030, opines Future Market Insights in its recent report . 2. Market size and forecast, by Flavor, 2020-2028 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 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. 03 Locally called "po po ch," Singapore has sold bubble tea since 1992. Furthermore, there has been an increase in boba stores in the U.S. and Canada, owing to the shift in consumer preferences toward no andlow-alcohol beverages, which has further contributed to the market growth. 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. 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.
Companies in the Industry are Aggressively Expanding their Franchisees to Cater to the Growing Demand. The bubble tea market was valued at $2.4 billion in 2019 and is estimated to reach $4.3 billion by 2027, registering a CAGR of 7.80% from 2020 to 2027. For instance, in September 2020, Chen Shucheng started a new bubble milk tea franchise in Singapore called Meme Xpress. The market was expected to reach a valuation of US$ 2.3 Bn by the end of 2021. Bubble tea is also known as pearl milk tea. Published. According to the report, bubble tea orders had increased at a whopping 3,000 percent in 2018. Chewy tapioca balls or different flavored jellies are then added to give bubble tea the fun, chewy texture that it is known for! But did you know that there are six different types of bubble tea? 7.3.9.1. Interesting Facts. The Asia Pacific bubble tea market is expected to flourish with multiple market opportunities. Gong Cha, Kung Fu Tea, Lollicup USA, Tiger Sugar, Sharetea, Boba Guys, Tapioca Express, Cha Time, Ten Rens Tea Time, YiFang Bubble Tea, CoCo Fresh Tea & Juice, DaBoba, Happy Lemon, Quickly, Cojiitii, and others are some of the manufacturers of bubble tea profiled in the full version of the report. Press release from: Analytics Market Research. The at-home market, also called off-trade market, covers all retail sales via super- and hypermarkets, convenience stores or similar sales channels. Statista. Rising consumption of tea and coffee as nootropic drinks among students and working-class population is a key factor for the market growth. Over of the bubble tea enjoyed around the world is fruit-flavored. This segment is expected to grow significantly throughout the forecast period due to its high nutritional value as compared to other flavors, high popularity of tea-based fruity beverages, and high consumer preference. 12. Both the at-home and the out-of-home market are valued at retail selling prices including all sales and consumption taxes. The market is expected to grow annually by 2.61% (CAGR 2023-2025). For instance, the base ingredients required for the preparation of black or green tea are exported from India, but due to the imposed regulations, companies were unable to process the demands of the manufacturers. By continuing to visit this site you agree to our use of cookies . 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. As a result, other plant-based hot . The two businesses are known for their zingy fruit tea drinks. Green tea. Drum To Hopper Blends Premix Market Forecast: The global drum to hopper blends Premix market is expected to reach a valuation of US$ 752.1 Mn in 2022, with demand increasing at a CAGR of 7.4% over the assessment period. Worldwide Tea Statistics. For instance, Nextrends Asia 2021 displayed a surge in Taiwans exports of pearl milk teas base ingredients (raw materials, packaging and machinery, and others) which was an increment of 330% as compared to 2018. 11. Increased demand for bubble tea has been fuelled by pearl milk tea, which is becoming increasingly popular as one of the healthier alternatives to carbonated beverages. 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%.. 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. Thank you Fortune Business Insights for your efforts and prompt response, I had a great experience working with Fortune Business Insights. 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. 17 Aug 2022 12:37PM (Updated: 17 Aug 2022 06:16PM) SINGAPORE: Bubble tea lovers in Southeast Asia spend US$3.66 billion a year on the beverage and similar "new tea" drinks, with Singapore . Data at LGA level is also presented. Insights. 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. Bubble tea is also known as (Zhen Zhu Nai Cha) directly translates to pearl milk tea, but is also known as boba tea in . Modern Asian Desserts, expanded its business in the country by introducing various boba milk tea outlets. This can be attributed to the rise in awareness regarding healthy lifestyle and higher adoption of healthy beverages by health-conscious consumers. Gain competitive intelligence about market leaders; Track key industry trends, opportunities and threats; Inform your marketing, brand, strategy and market development, sales and supply functions Address Shop 14, 375 William Street, Northbridge, Western Australia, WA, Australia 6003 Phone Number 0434039801 Categories Bubble Tea Shop, Tea Room Keep reading to discover everything weve uncovered about bubble tea. The market player positioning segment facilitates benchmarking and provides a clear understanding of the present position of the market players in the industry. Most bubble tea recipes contain a tea base mixed with fruit or milk, to which chewy tapioca balls (known as bubbles, pearls, or boba) and fruit jelly are often added. Increasing Inclination of Consumers toward Versatile Teas with Innovative Bold Flavors is a Prominent Trend. These drinks are made with milk tea and tapioca pearls (to make the bubbles), which contain a lot of natural sugar. In 2018, bubble tea made a 3,000 . Between 2021 and 2028, the global tea market is expected to grow at a CAGR of 6.6%. There was a 3,000% increase in the amount of bubble tea orders in Southeast Asia in 2018. The major countries in each region are mapped according to their revenue contribution to the global bubble tea market. It is made using green tea, white tea, black tea, or oolong tea. According to the bubble tea market share, based onflavor, the fruit flavor segment was the most prominent segment accounting for the highest share in the bubble tea market, in 2019. According to the bubble tea market analysis, based on base ingredient,the black tea segment generated maximum revenue in 2019 and is expected to continue this trend throughout the forecast period. The article shared insights on the bubble tea craze in Southeast Asia. The outbreak of COVID-19 forced government bodies to impose strict closure of restaurants, farms, and factories to maintain safety measures and implement social distancing. The industry shows no signs of slowing down, and in fact, appears to be growing exponentially with every passing year. The segment will depict a robust 11.8% CAGR and account for more than 26% of the market share. Sometimes they are blended with ice to give them a more slushy-like consistency. Followed by black tea, the green tea segment is expected to hold a major percentage of the market share. The global bubble tea market size was valued at USD 2.17 billion in 2021. 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. In this era, the growing consumer preferences for products depend on various factors such as choice of taste, price, brand, and location accessibility. To understand the global market potential, growth, and scope, the market is segmented based on base ingredients (black tea, green tea, oolong tea, white tea, others), flavor (original, flavored (nut-flavored, chocolate, fruit, honey, mocha, caramel, vanilla, coconut), sugar content (regular, reduced sugar/sugar-free) format (ready-to-drink, instant mixes), toppings (pearl, grass jelly, coconut jelly, red bean, multiple/ others), distribution channel (direct (B2B), indirect (B2C) (hypermarket/ supermarket, convenience store, grocery retailers, wholesale, other store-based retailing), online retailing), and region. About | Privacy Policy |Contact | Advertise | Support. Boba tea is creating a buzz among individuals worldwide, owing to its growing appeal and novelty. Various key insights presented in the report are an overview of related markets, competitive landscape, recent industry developments such as mergers & acquisitions, regulatory scenario in critical countries, and key bubble tea industry trends. Countries such as Vietnam and Taiwan are projected to have the largest sales. Pune, India, Oct. 26, 2021 (GLOBE NEWSWIRE) -- The global bubble tea market size is expected to reach USD 3.39 billion by 2027 . Bubble tea . As more and more countries discover the delicacy that is bubble tea, these figures are sure to continue growing. 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. This growth is fueled by the perceived health benefits of green tea. Versatility in flavor, health benefits, and social media trends drive the market. Thank you for contacting us, our sales representative will get in touch with you shortly! 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. The key players in the industry receiving high levels of popularity and response from customers are franchising their businesses into different locations. The consumption of organic tea rose by 1.06 million gallons in 2018. 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. We value them as a research company worthy of building long-term relationships., Well done Fortune Business Insights! 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.
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. 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. That is approximately four cups of brewed coffee, 10 cans of cola or two "energy shot . Thailand leads in bubble tea consumption at an average of 6 cups per person per day. 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. Now, there are bubble tea shops everywhere, and many companies have started to offer other bubble tea treats in the form of desserts to expand the marketplace. Moreover, higher expenditure of consumers on healthy beverages adds to the popularity of bubble tea in theregion. 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. Today, bubble tea consumption in China surpasses that of coffee and many other traditional beverages. Clicking on the following button will update the content below. 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. Manufacturers are capitalizing on improving the functionality of boba drinks ingredients to cater to the rising demand from consumers. Remarkable job and great efforts by your research team. A. Bubble tea made a rise in popularity in 2018 with a 3000% increase in orders from Southeast Asia. In its latest report, FMI offers an unbiased analysis of the global bubble tea, providing historical data from 2016 to 2020 and forecast statistics for the period 2021-to 2031. Tea stands were set up in front of the schools and would compete for business with the best selling tea. Virtually any flavor that you can imagine exists with bubble tea. Against this backdrop, the market valuation is projected to reach US$ 245 Mn by 2032. For people aged 71 or older, the figures were substantially lower, at 1,584 grams and 1,532 grams, respectively. +44 208 097 3636. Young people between ages 20 and 29 are interested in bubble tea. According to the CXOs, Europe is projected to register significant growth as compared to Asia-Pacific and North America due to rapid urbanization, rise in consumption of healthy beverages, and low price of bubble tea. Bubble tea truly is an international drink! Quick Facts. Porters five forces analysis highlights the potency of the buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplierbuyer network. 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. 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. 13. Add the ice cubes, and shake so the whole drink can get cold. Pour tea, milk, and 4 teaspoons sugar into a cocktail shaker.
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