There are six official types of bubble tea. Boba tea is creating a buzz among individuals worldwide, owing to its growing appeal and novelty. Against this backdrop, the market valuation is projected to reach US$ 245 Mn by 2032. 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. The market for Hot Drinks is structured into retail sales for at home consumption and on-premise or foodservice sales for out-of-home consumption. On the basis of flavor, it is categorized into original flavor, coffee flavor, fruit flavor, chocolate flavor, and others. 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. Online retailing is predicted to register an 11.9% CAGR. Chewy tapioca balls or different flavored jellies are then added to give bubble tea the fun, chewy texture that it is known for! 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). Its iced or hot black or green tea mixed with chewy tapioca balls that are often flavored. 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 . All rights reserved. In addition, due to the presence of artificial preservatives in bubble tea, consumers are changing their preference toward organic beverages, which hampers the growth of the global bubble tea market. Furthermore, a decline in the growth of bubble tea consumption is witnessed due to strong restrictions on import and export facilities. 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. For instance, in September 2020, Chen Shucheng started a new bubble milk tea franchise in Singapore called Meme Xpress. Awareness about health issues and their relation to meat consumption has resulted in a shift towards vegan and plant-based diets. The market was expected to reach a valuation of US$ 2.3 Bn by the end of 2021. The research report includes quantitative and qualitative insights into the market. 11. The Mayo Clinic state that up to 400 mg of caffeine a day is probably safe for most healthy adults. Rinse, drain, and refrigerate until chilled. 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. Virtually any flavor that you can imagine exists with bubble tea. 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. making yummy bubble tea with BBT Club today. Rank Country/Region Tea consumption 1 Turkey: 3.16 kg (6.96 lb) . "Market Intelligence that Adds Flavour to Your Success", Region : Global | Format: PDF | Report ID: FBI101564. Your email address will not be published. It is expected to be the fastest growing segment owing to consumers' inclination towards the convenience offered. 2023 Allied Market Research. By continuing to visit this site you agree to our use of cookies . It should be no surprise then that sugar is a primary ingredient in the drink. Address Shop 14, 375 William Street, Northbridge, Western Australia, WA, Australia 6003 Phone Number 0434039801 Categories Bubble Tea Shop, Tea Room Increasing Inclination of Consumers toward Versatile Teas with Innovative Bold Flavors is a Prominent Trend. Tea is a large part of modern Australian culture due to its British origins. Until 2025, the tea market in Philippines is forecast to reach 109.79 million USD (in retail prices), thus increasing at a CAGR of 6.70% per annum for the period 2020-2025. Nevertheless, manufacturers are trying to introduce new beverage options, such as bubble milk tea, in the market. Stir until the sugar has dissolved and the milk is well mixed in. A. 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. Moreover, higher expenditure of consumers on healthy beverages adds to the popularity of bubble tea in theregion. The United States and Australia were both introduced to bubble tea in the mid-1990s, and it has been growing in popularity ever since. 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. In addition, as Europe is not highly indulged in tea production and mostly relies on other regions for the supply of tea, it somehow limits the market growth. For instance, in September 2021, Dubai witnessed the opening of various new tea outlets serving bubble tea across the country. Ltd. NEWARK, Del, July 26, 2022 (GLOBE NEWSWIRE) -- The global bubble tea market is projected to reach a value of US$ 5.5 Bn by 2031, with sales growing at a robust CAGR of 8.8% for the forecast period of 2021-2031. Fruit-flavored bubble teas account for the largest percentage of bubble tea consumed at 37%. A. 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. 30.7% of Victorian adults consumed sugar-sweetened soft drinks at least once a week. Fruit Flavor Segment is Dominating Backed by High Consumer Preference. In addition, the growing gastronomic tourism, rising number of health-conscious individuals, and increased social media influences further paved the way toward growing potential. bubble tea popularity statistics singapore; how many bubble tea brands in singapore; Bubble Tea Popularity Statistics Singapore . 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. On the contrary, introduction of various new flavors and blends and high demand among young population for a variety of teas are expected to provide lucrative opportunities for the market expansion.The bubble tea market has been segmented on the basis of on base ingredient, flavors, component, and region. Required fields are marked *. The 30 Tea Drinkers vs. Coffee Drinkers Statistics. As a result, other plant-based hot . Press release from: Analytics Market Research. In 2018, there were over 450,000 shops selling bubble tea in China. The availability of different types of milk tea offers numerous options for consumers to enjoy. 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! 84% of the tea that is consumed is black tea. 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). Add the ice cubes, and shake so the whole drink can get cold. Worldwide Tea Statistics. 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. Global Demand for Coffee - Despite the demand for coffee in the United States, the country only ranks 25th in per capita coffee consumption. In 2016, 19.4 per cent of 14. 01 The first bubble tea came out in the early 1980s. According to a recent consumer study, 94% of people between ages 20 and 29 have purchased bubble tea within the last 3 months. Versatility in flavor, health benefits, and social media trends drive the market. 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. 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. Rising number of fitness conscious consumers and rising demand for tea based beverages in youth generation across the globe is the current trend in the global bubble tea market.. A. Europe and LAMEA will provide more business opportunities for Bubble Tea Market in coming years. Moreover, European and other Scandinavian countries are prominent followers of tea and coffee cultures, and thus are keenly interested in experimenting with new types of fruity flavors, herbal, and pearl milk teas. Although there are plenty of bubble tea flavors to choose from, fruit teas tend to be the most popular. Bubble tea consumption gender-wise: According to the statistics, bubble tea is a favorite drink of women. In-depth analysis and the bubble tea market size and segmentation assists in determining the prevailing bubble tea market opportunities. With shops all around the world in many major cities, its easy to indulge your bubble tea craving when you want to! An average, medium-sized serving of bubble tea has, on average, 335 calories. In 2020-21, of people aged 18 years and over: 6.4% consumed sugar sweetened drinks daily. The global organic tea market size was USD 820.8 million in 2019 and it is projected to reach USD 1,918.7 million by 2027, exhibiting a CAGR of 11.2% during the forecast period. Market size and forecast, by Flavor, 2020-2028 By region, North America was the most prominent regional market in 2019. +44 208 097 3636. 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. 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. This can be attributed to the rise in awareness regarding healthy lifestyle and higher adoption of healthy beverages by health-conscious consumers. One kilogram therefore represents 500 cup equivalents. You can find bubble tea in these countries if youre traveling the world: Taiwan, Japan, South Korea, China, United Kingdom, Australia, Canada, United States, Germany, Mauritius, South Africa, Brazil, and more! Bubble teas growing appeal to a younger demographic coupled with its popularity as a nootropic beverage will likely supplement the sales of the tea in the market over the forecast period, says an FMI analyst. Bubble tea . The global bubble tea market size was valued at USD 2.17 billion in 2021. Bubble milk teas surge in popularity is mainly attributed to taste, affordability, and the rising reinvention of the basic tea recipe. 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. By 2025, 70% of spending and 10% of volume consumption in the Tea . 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. The industry shows no signs of slowing down, and in fact, appears to be growing exponentially with every passing year. Pune, India, Oct. 26, 2021 (GLOBE NEWSWIRE) -- The global bubble tea market size is expected to reach USD 3.39 billion by 2027 . The market value of the bubble tea market is anticipated to reach a high of US$ 5.82 billion by the year 2032. Theory seemed to meet reality . 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. Tea in Kenya. Graph. Request Now ! The market player positioning segment facilitates benchmarking and provides a clear understanding of the present position of the market players in the industry. Book your free consultation and let our research experts help you with your needs/problems. In 2004, daily beverage consumption of 19- to 30-year-olds averaged 2,610 grams for men and 2,056 grams for women (Table 1). This is a list of countries ordered by annual per capita consumption of tea, as of 2016. 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. According to a study published in the National Library of Medicine, 2022, chewing tapioca pearls can increase the salivary C-protein (CRP) and calcium (Ca) levels. The report was very accurate and as per my requirements. This beverage has undergone a few waves of popularity in Singapore. With globalization, new trends have started striking the food service market, thereby influencing the young generation to try new beverages. Methods: Self-report questionnaires were used to assess bubble tea consumption and mental status. Bubble milk tea has emerged as one of Gen Zs trademarks as its consumption is highly witnessed by the young generation as compared to any other age group. Tea is an aromatic beverage derived . Nigeria, specifically, has become a hub for cassava production. As per the report, sales will increase at a 4.2% CAGR over the forecast period, reaching US$ 354.6 Mn by 2032. Based on the base ingredient, green tea will lead the market growth over the forecast period. The market for Tea segment is expected to show a volume growth of 1.6% in 2024. They are made from cassava starch, a common ingredient in Brazilian culture, and they take time, effort, and skill to make properly. 10. 02 Each tapioca ball has 5 to 14 calories. The global market is projected to reach US$ 194.7 Bn by 2032. 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. 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. At what CAGR is the bubble tea market projected to grow in the forecast period (2022-2029)? Ltd. With bubble teas sudden increase in popularity, it should be no surprise that the industry is only expected to keep growing. Green tea. The market is expected to grow at a CAGR of 7.40%, during the forecast period. Asia Pacific is expected to dominate the market during the forecast period. According to NCBI, healthy and natural ingredients such as green tea help in preventing weight gain and also in inducing weight loss when consumed regularly. The key players alsorelyon product launch to improve their product portfolio and stay relevant in the global market.The key players profiled in thereport include Bobabox Limited, Bubble Tea House Company, Cuppotee, Fokus Inc., Gong Cha, Lollicup USA, Inc., Sumo's (M) SdnBhd, Ten Ren's Tea Time, The Bubble Tea Company, and Troika JC. Very satisfied with the overall report as it has helped me to build strategies for my business, This is regarding the recent report I bought from Fortune Business insights. Bubble tea has a milk base and includes ingredients like chewy tapioca balls, or fruit jelly and boba. 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. Bubble tea consumption statistics show that Thais drink six bubble teas per month. By flavor, the market is classified into coffee, fruit, chocolate, original, and others. When we say that bubble tea is insanely popular, were not joking. 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. Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. Save my name and email in this browser for the next time I comment. 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. 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. 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. Art & Craft. 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 . How much is the global bubble tea market worth? Introduced to China in the early 1990s, it quickly became one of the most popular drinks in the nation. Bubble tea is also known as (Zhen Zhu Nai Cha) directly translates to pearl milk tea, but is also known as boba tea in . Other players operating in the market are Boba Box Limited, Fokus Inc., Sumos Sdn Bhd, Troika J.C. (Qbubble), and Boba Tea Company. Your email address will not be published. This popular sweetened tea is made up of high-quality milk and tapioca pearls, along with fruit powder, creamer, and sweeteners. Unilever (Lipton), Associated British Foods (Twinings) and Tata Global Beverages (Tetley) are globally the most important players by revenue. Australia . . 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. Whether youre feeling something sweet, fruity, and refreshing, something soothing and tea-like, or a slushy smoothie like-drink, bubble tea has you covered. The segment is expected to display an 11.4% CAGR, and account for more than 38% of the global market share. 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. Bubble tea typically sells for about $3 to $5 for a 16- to 20-ounce serving. The drink became popular during the 1990s, just in time for millennials to develop a taste for it. The major countries in each region are mapped according to their revenue contribution to the global bubble tea market. The report covered all the points and was very detailed. Overall, though tea registered. There are many varieties of the drink with a wide range of ingredients. Bubble tea is extremely high in calories. Health Benefits Associated with Bubble Tea Consumption to Drive the Market Growth . Tea decreased 0.14 USD/Kgs or 4.95% since the beginning of 2023, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Its not just the sugar that gives these drinks their sweetness, though; many restaurants also add sweeteners to them. The data says that for every additional 1% of expats living in a postcode, we should expect the probability of a bubble tea shop in that postcode to increase by 0.0091 from a baseline of -0.2089. (World Atlas)3.The USA ranks 11th among the countries with the highest caffeine consumption, with a rate of 200 mg per person per day. This can be attributed to change in preference of consumers toward healthy beverages and better taste. For those looking to cut back on sugar, bubble tea may not be the best choice. The article shared insights on the bubble tea craze in Southeast Asia. Ask an Analyst@ https://www.futuremarketinsights.com/ask-question/rep-gb-12310, Explore FMIs Extensive Coverage on Food and Beverage Domain. The market is anticipated to be valued at US$ 46.0 Mn in 2032. 6. In 2019, tea revenue globally is about US$214,761m and is expected to grow each year by 6.9% until 2023. Ltd. https://www.futuremarketinsights.com/reports/sample/rep-gb-12310, https://www.futuremarketinsights.com/customization-available/rep-gb-12310, https://www.futuremarketinsights.com/checkout/12310, https://www.futuremarketinsights.com/ask-question/rep-gb-12310, https://www.futuremarketinsights.com/reports/bubble-tea-market, https://www.futuremarketinsights.com/reports, Ready to Drink Shakes Market Outlook (2022-2032). Quinoline Yellow WS Market Analysis: The global quinoline yellow WS (water soluble) market is projected to reach a valuation of US$ 28.5 Mn in 2022, growing at a CAGR of 3.9% between 2022-2032. A study conducted by the Tea Board of India revealed some interesting consumption patterns among Indian tea drinkers: About 80% tea drinkers in India consume it either with or before breakfast . 2. 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. Bubble tea is a mix of milk, tea, and fruit juice with added bubbly-looking toppings (like tapioca balls). Businesses that sell bubble tea (including those that serve other drinks, such as coffee and smoothies) face a lot of competition since there are many places where customers can find the same drink. Based on the distribution channel, online retailing is expected to exhibit a CAGR of 11.9%. 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. Australians drink tea and have afternoon tea and morning tea much the way the British do. The global COVID-19 pandemic has been unprecedented and staggering, with bubble tea experiencing lower-than-anticipated demand . While bubble tea is enjoyed by people of all ages, it tends to be a global favorite among younger people. . Millennial Tea Drinking Stats - Tea continues to gain market share in surprising areas. [1] That means 24 countries have higher consumption rates that are worth targeting. 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 mean age of study participants was 24 years and the age range was 18 or older to younger than 30 years. We selected the top 40 popular menu items from three of the most commonly used OFD applications in 2021. The campaign will be extended due to the tremendous profit achieved, which motivates the company to broaden its product offerings and brand position. According to the Food and Agriculture Organization (FAO) of the United Nations, Nigeria is the largest exporter of cassava at 21% of the worlds amount. The market is projected to grow from USD 2.29 billion in 2022 to USD 3.78 billion by 2029, exhibiting a CAGR of 7.40% during the forecast period. Revenue in the Tea segment amounts to US$1.40bn in 2023. Boost your students confidence by putting their results next to the public's 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. A. This is a very good piece of work and will be very helpful to us going forward. Emerging countries such as China, India and Brazil growing with the CAGR of 8%, 9.5%, and 8.3% respectively. The region is witnessing a cross-cultural food consumption trend, and the growing health and wellness approach is also expected to boost the growth. Interesting Facts. 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. China is projected to exhibit a 7.5% CAGR. Moreover, increase in disposable income and economic growth in advanced & emerging economies support the market growth. Bubble Tea Popularity Statistics Singapore; by palmebre Published: July 20, 2021 (2 days ago) Category. Directly accessible data for 170 industries from 50 countries and over 1 million facts: Get quick analyses with our professional research service. That is approximately four cups of brewed coffee, 10 cans of cola or two "energy shot . 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. Chatime, Gong Cha, Coco Fresh Tea & Juice, and Lollicup USA, Inc. are the leading players in the 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. Join over 60,000 Bubblers (that's what we call our lovely customers!) Using new techniques such as molecular nitrogenation also adds innovation to the traditional recipe, thus further opening numerous opportunities for the market to bolster growth. However, the consumption of tea is not as prominent as the popularity of coffee in South American countries such as Argentina and Brazil. The appearance of the finished drink is what led to its name. Statista. The incredible success of bubble tea in China since 1996. Cassava flour itself comes from the cassava root, which is native to South America but has become a staple food in many African nations. Insights. 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 made a rise in popularity in 2018 with a 3000% increase in orders from Southeast Asia. Tea is considered the second most popular drink of choice worldwide. 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. As of December 2018, GrabFood's bubble tea network encompasses over 1,500 brands with 4,000 outlets throughout . 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. Ask for Customization @ https://www.futuremarketinsights.com/customization-available/rep-gb-12310. Data at LGA level is also presented. Thanks for sticking with me in this huge post. Thailand leads in bubble tea consumption at an average of 6 cups per person per day. Of the 30 countries that enjoy bubble tea, most are in Asia. Bubble milk tea has emerged as a cultural icon for the world and symbolizes Taiwans food innovation to promote its existence amidst the food service industry. One concession owner became popular with her . An Infographic Representation of Bubble Tea Market, To get information on various segments, share your queries with us. Moreover, the availability of suitable alternatives, such as unsweetened tea, coconut water, fruit-infused teas, and others, offering similar benefits, hamper the global market growth.