Ready to drink tea products have seen a 15x increase in sales and consumption since 2004. Over 95% of females in the united states have tried bubble tea, while 81% of males . Overview and forecasts on trending topics, Industry and market insights and forecasts, Key figures and rankings about companies and products, Consumer and brand insights and preferences in various industries, Detailed information about political and social topics, All key figures about countries and regions, Market forecast and expert KPIs for 600+ segments in 150+ countries, Insights on consumer attitudes and behavior worldwide, Business information on 60m+ public and private companies, Detailed information for 35,000+ online stores and marketplaces. 87% of American millennials drink tea, including bubble tea. 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. Global Demand for Coffee - Despite the demand for coffee in the United States, the country only ranks 25th in per capita coffee consumption. 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. Just over half (52%) of all free sugars consumed were from beverages, led by soft drinks, sports and energy drinks (19%), fruit juice and fruit drinks (13%), with the sugar added to beverages such as tea and coffee contributing 7.3% and . For example, according to . Which region held the highest share in the market? 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. This can be attributed to rise in the popularity of bubble tea with black tea as a base ingredient across the globe. The bubble tea industry is enormous and accounts for one of the fastest-growing food markets in the world today. Tea consumption per capita in the UK is 1.3 kg for 2019. The chewy tapioca balls or pearls are undoubtedly the stars of any bubble tea drink. 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. It looks quite comprehensive and the data is exactly what I was looking for. We are happy with the professionalism of your in-house research team as well as the quality of your research reports. The bright colors and availability of sweet and fruity flavors especially appeal to children . Your email address will not be published. Strong dependency on Asian countries to source raw materials acts as one of the major restraints in the market. Consumption of black tea is highly promoted due to its strong antioxidant, anti-aging, and anti-diabetic properties. Emerging countries such as China, India and Brazil growing with the CAGR of 8%, 9.5%, and 8.3% respectively. These drinks are made with milk tea and tapioca pearls (to make the bubbles), which contain a lot of natural sugar. There are many teas, they can vary in . 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. China is projected to exhibit a 7.5% CAGR. The market for Tea segment is expected to show a volume growth of 1.6% in 2024. The report was very accurate and as per my requirements. A. Bubble tea, also known as Boba or Boba tea, is rapidly becoming one of the worlds favorite beverages. By continuing to visit this site you agree to our use of cookies . 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. Tea is considered the second most popular drink of choice worldwide. Based on the base ingredient, green tea will lead the market growth over the forecast period. [1] The consumption of organic tea rose by 1.06 million gallons in 2018. Moreover, higher expenditure of consumers on healthy beverages adds to the popularity of bubble tea in theregion. Another user, Yilian Fengyue Xian, said she had bought four cups of bubble tea after 76 days of being under lockdown in what she called "revenge bubble tea drinking". The incredible success of bubble tea in China since 1996. The availability of different types of milk tea offers numerous options for consumers to enjoy. This is a decrease, compared to the growth of about 7.64% per year, registered in 2015-2019. 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. Bubble teas distinct flavor, easy product availability, and numerous varieties offered will help the market to flourish. 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. 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. The campaign will be extended due to the tremendous profit achieved, which motivates the company to broaden its product offerings and brand position. This beverage has undergone a few waves of popularity in Singapore. . They are made from cassava starch, a common ingredient in Brazilian culture, and they take time, effort, and skill to make properly. 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 . About 200 million pounds of tea leaves (bagged & loose) are shipped into the United But the most important thing to love is that its a beverage category that has grown by leaps and bounds over the past ten years or so, with seemingly no end in sight. According to a recent consumer study, 94% of people between ages 20 and 29 have purchased bubble tea within the last 3 months. The data offered to us was exactly what we were looking for. While bubble tea is enjoyed by people of all ages, it tends to be a global favorite among younger people. 4364..55.011 - Australian Health Survey: Consumption of added sugars, 2011-12. Some specialty shops have menus with smaller sizes and prices as low as $2 to $3 per serving. The market for Hot Drinks is structured into retail sales for at home consumption and on-premise or foodservice sales for out-of-home consumption. Moreover, as per researches conducted by different reputed organizations, tea is proven to prevent different type of cancers, lower cholesterol, help boost immunity, facilitate weight loss, and prevent neurological diseases.This indicates that the health benefits associated with bubble tea are anticipated to drive the overall market. The players in the bubble tea market have adopted acquisition as their key development strategy to increase profitability and improve their position in the bubble tea market. In Asia, however, it is equally popular among men and women and is seen as a cultural phenomenon. 7. Lycopene Food Colors Market Growth: The overall demand for lycopene food colors is slated to grow at a prolific CAGR of 10.7% during the forecast 2022-2032, totaling US$ 257 Mn by 2032. The region is witnessing a cross-cultural food consumption trend, and the growing health and wellness approach is also expected to boost the growth. 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. +44 208 097 3636. The bubble tea market in Singapore has a long history and is expected to exhibit a prosperous future with a CAGR of 10.7% over the forecast period. Bubble tea has a sweet, sour, and tangy taste that varies depending on the type of fruit used. page 1 . For better delivery of our new release, Please help us undestand your interest Industry and Frequency that you prefer to get the new releases. Pearl Lemon Boba Unit 4 Building, 250 North End Rd, London SW6 1NJ, United Kingdom. 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! Rinse, drain, and refrigerate until chilled. It includes flavor variants such as lychee, mango, passion fruit, peach, plum, strawberry, avocado, banana, grape, kiwi, lemon, and others. By the toppings segment, pearls are anticipated to grow at a prolific CAGR of 10.3% with more than 35% of the global market share. Required fields are marked *. A typical serving of bubble tea at a chain might cost $3 to $5 for a 16- to 20-ounce cup. 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. This means, market totals are not comparable to published data from prior years. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA. Interesting Facts. Jan 2023. Find your information in our database containing over 20,000 reports, Consumer Market 13. 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. Press release from: Analytics Market Research. Let's assume that the daily maintenance calories for an average adult man are 2,500 kcal, and for an average adult . It also offers a detailed analysis of the market size and growth rate for all possible market segments. Other players operating in the market are Boba Box Limited, Fokus Inc., Sumos Sdn Bhd, Troika J.C. (Qbubble), and Boba Tea Company. 3. Contact Sales for Further Assistance in Purchasing this Report @ https://www.futuremarketinsights.com/checkout/12310. Additionally, they can be ordered with fruit or boba, both of which are high in added sugar. The price per unit in the out-of-home market always references the total price over the amount of tea consumed, regardless of the other components of the finished beverage. 11.2% of Victorian adults consume sugar sweetened beverages daily. If youre looking for a sweet, refreshing drink that doesnt compromise on flavor or quality, bubble tea is the answer. Availability of Other Caffeinated Drinks to Impede Growth. 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. In 2020-21, of people aged 18 years and over: 6.4% consumed sugar sweetened drinks daily. Asia-Pacific (APAC) dominates the bubble tea market because of the high consumption of the bubble tea within the region. Stir until the sugar has dissolved and the milk is well mixed in. Who are the leading players in the market? Ask for Customization @ https://www.futuremarketinsights.com/customization-available/rep-gb-12310. Bubble tea is known for its sweet taste. If you love bubble tea and are looking for a make your own bubble tea kit, this is the place! As a result, other plant-based hot . Statista. The 30 Tea Drinkers vs. Coffee Drinkers Statistics. 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. 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. (2.Americans rank 25th for coffee consumption per capita, with an average consumption of 4.2 kg per person per year. 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. With globalization, new trends have started striking the food service market, thereby influencing the young generation to try new beverages. 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. Bubble tea is a sweet, delicious drink typically made from a tea base that is then mixed with either milk or fruit flavoring. 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 research report includes quantitative and qualitative insights into the market. 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. 8. 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. 84% of the tea that is consumed is black tea. From Farmer Welfare and Supply Chain to the Latest Trends, Tea Experts Share Insights. The ICC World Test Championship final will be played in The Oval, London from June 7 to 11, where the conditions are pacer-friendly. Rank Country/Region Tea consumption 1 Turkey: 3.16 kg (6.96 lb) . Art & Craft. Save my name and email in this browser for the next time I comment. For instance, in April 2022, U.S. based start-up namely Bubluv Inc. launched tapioca starch and konjac based bubble tea in three flavors, black milk tea with tapioca pearls, matcha soy latte with tapioca pearls, and oolong guava with tapioca pearls. 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. Its iced or hot black or green tea mixed with chewy tapioca balls that are often flavored. A. Almost overnight bubble tea shops popped up around the world in multiple countries that had never had an interest in it before. Today, bubble tea consumption in China surpasses that of coffee and many other traditional beverages. By flavor, the market is classified into coffee, fruit, chocolate, original, and others. Ltd. The report segments the global bubble tea market based on base ingredient, flavors, component, and region. A. 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. 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 . 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. Bubble tea got its name from the tapioca balls because when theyre added to the drink and shaken, the balls expand and pop, creating a popping soundor bubbling.. 11. Elementary school children would look forward to buying a cup of refreshing tea after a long, hard day of work and play. Our objective was to assess the nutritional profile of popular menu items available through OFD applications in Bangkok, Thailand. The segment will depict a robust 11.8% CAGR and account for more than 26% of the market share. Bubble tea is a beverage originating from Taiwan comprising tea with fruit syrup or milk added, and then shaken. October 26, 2021 13:00 ET | Source: Fortune Business Insights. . Black tea is the most consumed tea around the world. 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 Tapioca pearls are made from cassava flour, of which Nigeria is the worlds largest exporter (21%). How Much Is the Bubble Tea Industry Worth. 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. Tea is the second most popular drink in the world, with water at first place. Looking forward to work together in the future, It has been a delightful experience working with you guys. Pearl Lemon Boba Unit 4 Building, 250 North End Rd, London SW6 1NJ, United Kingdom. Accelerated demand for healthier beverage alternatives to carbonated drinks coupled with shifts in consumer preferences is fueling market growth for bubble tea. Quick Facts. 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. Its not just the sugar that gives these drinks their sweetness, though; many restaurants also add sweeteners to them. Address Shop 14, 375 William Street, Northbridge, Western Australia, WA, Australia 6003 Phone Number 0434039801 Categories Bubble Tea Shop, Tea Room The global bubble tea market size was valued at USD 2.17 billion in 2021. Over of the bubble tea enjoyed around the world is fruit-flavored. Pour tea, milk, and 4 teaspoons sugar into a cocktail shaker. In fact, tea was aboard the First Fleet in 1788. An Infographic Representation of Bubble Tea Market, To get information on various segments, share your queries with us. In the Tea segment, volume is expected to amount to 18.6mkg by 2025. Studies showed that green tea-based milk tea is proven to be beneficial for lowering blood pressure and the risk of cancer. Data at LGA level is also presented. Originating in Taiwan, the drink typically consists of tea, milk/cream, and sugar accompanied by tapioca pearls. Graph. Read More . 12. 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. Bubble tea truly is an international drink! According to Fortune Business Insights, the Asia Pacific region holds the largest market share and is expected to grow at a compound annual growth rate (CAGR) of 10.07 per cent by 2027. 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. The Bubble Tea Club Kit has everything you need to make delicious homemade bubble tea. By component, it is classified into flavor, creamer, sweetener, liquid, tapioca pearls, and others. The percentage of tea that is consumed which is green tea: 15%. Your email address will not be published. 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. By sugar content, reduced sugar/sugar-free category will gain traction over the forecast period. What are the key factors driving the market? 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. 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. One cup of tea is assumed to contain 2 grams of tea.