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. 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 two most popular varieties are bubble milk tea with tapioca and bubble milk green tea with tapioca. 6. Countries in North America are gradually increasing the consumption of this tea owing to the growing popularity of tea-based drinks. 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. 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. Tea is a beverage made by pouring hot water over cured leaves. 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. Lycopene Food Colors Market Growth: The overall demand for lycopene food colors is slated to grow at a prolific CAGR of 10.7% during the forecast 2022-2032, totaling US$ 257 Mn by 2032. Italy's economy contracted by 0.1 per centquarter-on-quarter in the final three months (Q4) of last year, thecountry's National Institute of Statistics (ISTAT) said.On a year-on-year basis, gross domestic product (GDP) in the quarterincreased by 1.4 per cent, against the originally estimated 1.7 percent, reports Xinhua news agency citing ISTAT . 15. For better delivery of our new release, Please help us undestand your interest Industry and Frequency that you prefer to get the new releases. Bubble tea brands expected to produce novel and unique products over the forecast period. 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. Your email address will not be published. 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. The industry shows no signs of slowing down, and in fact, appears to be growing exponentially with every passing year. The market for Tea segment is expected to show a volume growth of 1.6% in 2024. One concession owner became popular with her . 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. The bubble tea industry is enormous and accounts for one of the fastest-growing food markets in the world today. 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. Additionally, they can be ordered with fruit or boba, both of which are high in added sugar. The consumption of organic tea rose by 1.06 million gallons in 2018. Elementary school children would look forward to buying a cup of refreshing tea after a long, hard day of work and play. The market is expected to grow annually by 2.61% (CAGR 2023-2025). Furthermore, the shift of millennials toward such products owing to their demand for superior quality tea varieties with unique flavor offerings has aided in the growth. Although the drink was originally created in Taiwan, its signature ingredient is primarily grown in Nigeria, Thailand, Indonesia, and Brazil. 1.In 2019, 64% of Americans aged 18 and over drank coffee every day. When you look at the marketing for bubble tea, the numbers make sense. An average, medium-sized serving of bubble tea has, on average, 335 calories. Originally created in Taiwan in the 1980s, bubble tea has quickly exploded in popularity. The black tea segment is expected to be the leading segment in the global market. Rising Raw Material and Transportation Cost Due to the Pandemic to Slow Down the Market Growth. There are 250 different flavors of bubble tea. 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. Keep reading to discover everything weve uncovered about bubble tea. 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. Bubble tea has a sweet, sour, and tangy taste that varies depending on the type of fruit used. July 26, 2022 10:30 ET 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. 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). Add the ice cubes, and shake so the whole drink can get cold. 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 . The forecast period in the global bubble tea market report is 2019-2027. It includes flavor variants such as lychee, mango, passion fruit, peach, plum, strawberry, avocado, banana, grape, kiwi, lemon, and others. 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. 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. From Farmer Welfare and Supply Chain to the Latest Trends, Tea Experts Share Insights. 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. 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. For example, according to . 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. 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). Moreover, higher expenditure of consumers on healthy beverages adds to the popularity of bubble tea in theregion. About 200 million pounds of tea leaves (bagged & loose) are shipped into the United 5. The bubble tea industry was valued at $2.2 billion in 2019. The global bubble teamarket holds a substantial scope for growthduring the forecast period. The valuation of the out-of-home segment at retail prices means a significant change of the market definition in comparison to earlier iterations of the Consumer Market Outlook, as out-of-home consumption was valued at wholesale prices before. Sunset Yellow FCF Market Sales: The sunset yellow FCF sales are slated to grow at a CAGR of 6.25% between 2022 and 2032, totaling a market valuation of US$ 150 Mn by 2032. A. Tea is one of the most popular beverages consumed worldwide. 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 . October 26, 2021 13:00 ET | Source: Fortune Business Insights. Which is the leading segment based on the product type in the market? Ltd. Such challenges cumulatively hamper the growth potential of the global market. Consumption declines with age. 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. 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. A South Australian Health Omnibus Survey (SAHOS) done in 2014 showed that there was a . Young people between ages 20 and 29 are interested in bubble tea. Statista. Contact Sales for Further Assistance in Purchasing this Report @ https://www.futuremarketinsights.com/checkout/12310. 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. Bubble tea can be found on every continent today, except for Antarctica, of course! This means, market totals are not comparable to published data from prior years. 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. 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. Six in ten (59.7%) did not usually consume either sugar sweetened or diet drinks. Based on the base ingredient, green tea will lead the market growth over the forecast period. The closure of Shanghai . 30.7% of Victorian adults consumed sugar-sweetened soft drinks at least once a week. Tapioca pearls are made from cassava flour, of which Nigeria is the worlds largest exporter (21%). Table 1 shows the frequency of bubble tea consumption, and the prevalence of symptoms of depression and anxiety according to the covariates age, gender, sociodemographic and lifestyle factors. 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. Consumers are shifting toward natural and organic food and beverage products, which is one of the major factors that would help in the growth of this segment in the market. Pearl Lemon Boba Unit 4 Building, 250 North End Rd, London SW6 1NJ, United Kingdom. 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. Adults' total beverage consumption drops steadily with age. Versatility in flavor, health benefits, and social media trends drive the market. FB : Beverages| Pages: 261 | Author(s) : Vaibhav S , Roshan D, Single User License, Five User License & Enterprise User License. The bubble tea market in Thailand is predicted to register an 8.7% CAGR. As a result, other plant-based hot . 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). Premium Statistic Global tea consumption 2012-2025 . 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. Against this backdrop, the market valuation is projected to reach US$ 245 Mn by 2032. 4. To get the sample of bubble tea market report, click on the link (Please paste the link here). 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. Bubble milk tea has a strong market potential as it offers various types and flavors of boba teas, such as fruit-flavored, green jasmine, and black tea-based milk tea, across the globe. Because of its proximity to Taiwan, where bubble tea was created, China quickly became a fan of the sweet beverage. Consumption of sugar sweetened and diet drinks in adults. As more and more consumers become aware of the negative effects of sugar consumption, the sugar-free or reduced sugar segment of bubble tea is expected to gain popularity. Extruding the tapioca into these small balls is difficult work. SINGAPORE ( THE BUSINESS TIMES) - Bubbling excitement for bubble tea across South-east Asia has helped the industry grow to a whopping US$3.7 billion ($5.1 . 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. 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. One kilogram therefore represents 500 cup equivalents. 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. . Ask for Customization @ https://www.futuremarketinsights.com/customization-available/rep-gb-12310. More Insights into the Bubble Tea Market Report. December 17, 2022. By base ingredient, it is divided into black tea, green tea, oolong tea, and white tea. . Stir until the sugar has dissolved and the milk is well mixed in. We know where we will be getting business intelligence from in the future., Thank you for sending the market report and data. Bubble tea can be found in over 30 countries. The major countries in each region are mapped according to their revenue contribution to the global bubble tea market. 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. This is likely due to its naturally sweet flavor and all of the different varieties of teas that are available. Apart from the variety of flavors available, one of the primary elements fueling the expansion of bubble tea Industry is the health benefits. All these aspects necessitate the manufacturers to develop premium quality teas by keeping the consumer demands in mind. Thank you!, I recommend Fortune Business Insights for their honesty and flexibility. Australia . Background: Bubble tea, also known as boba or boba milk tea, has exploded in popularity in recent years, with the global boba market projected to reach 3.39 billion USD by the end of 2027. In the Tea segment, volume is expected to amount to 18.6mkg by 2025. The report was very accurate and as per my requirements. This segment does not include herbal tea, instant tea, iced tea or similar tea-derived Ready-to-Drink beverages. The global COVID-19 pandemic has been unprecedented and staggering, with bubble tea experiencing lower-than-anticipated demand . Not only that they were very responsive and dealt with all my questions very quickly but they also responded honestly and flexibly to the detailed requests from us in preparing the research report. 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. Table I : Prevalence1 of Bubble Tea Consumption among Students in University of Cyberjaya according to Sociodemographic Descriptions Sociodemographic description Bubble tea consumption Consume, n (%) Do not consume, n (%) Total, n (%) . 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, Troika JC. Bubble tea is often seen as a sweet, fruity, and more feminine drink in the western world, particularly with its multi-colored straws and cute cartoon packaging designs. 297 billion liters of tea were consumed worldwide in 2021. Bubble teas distinct flavor, easy product availability, and numerous varieties offered will help the market to flourish. 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. The segment is expected to display an 11.4% CAGR, and account for more than 38% of the global market share. The segment will depict a robust 11.8% CAGR and account for more than 26% of the market share. 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! 11. Get in touch with us. 2016. Find your information in our database containing over 20,000 reports, Consumer Market 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. 13. Other players operating in the market are Boba Box Limited, Fokus Inc., Sumos Sdn Bhd, Troika J.C. (Qbubble), and Boba Tea Company.