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The global bubble tea market was valued at $ 1,957 million in 2016 and is projected to reach $ 3,214 million by 2023, with a CAGR of 7.40% from 2017 to 2023.
Bubble tea may be a cool, refreshing, sweet drink with boba, aka tapioca pearls (or flavored jellies, or popping boba) sitting on the rock bottom of a transparent cup. it’s a specialty dessert drink that comes with a fruit or milk tea base, a spread of flavors, and a uniquely fat straw to suck up the boba.
Tapioca pearls are usually black but are often white or transparent in color. It varies counting on the ingredients of the pearl. White and translucent pearls are made from tapioca starch, while black pearls include tapioca starch, sometimes cassava root, sugar and caramel to feature the black color.
The consistency of tapioca pearls is somewhere between Jell-O and chewing gum. many of us think it’s almost like the feel of a gummy bear. The tapioca texture is unique! The pearls are approximately the dimensions of a marble.
The production of this ready-to-drink drink maintained its profitability, thus stimulating the bubble tea market. Additionally, adding fruit and jelly to bubble tea alongside the benefits of tea completes the expansion. However, the addition of preservatives, artificial colors, and excess sugar to current tea is hampering this market growth. Also, the supply of substitute products, such as coffee, and the trend in coffee consumption are slowing this growth. However, the introduction of the latest flavors concerning current tea presents a serious opportunity for market expansion.
The global bubble tea market is segmented according to the idea of a basic ingredient, flavor, component, and geography. basic ingredient supported, the market is divided into tea, green tea, oolong tea, and white tea. On the idea of the flavor, it is classified into the original flavor, coffee flavor, fruit flavor, chocolate flavor, et al. The components included in this report are the flavor, the creamer, the sweetener, the liquid, the tapioca pearls, et al… Geographically, the market is analyzed in North America, Europe, Asia-Pacific, and LAMEA.
The main players operating in this market are Lollicup USA Inc., CuppoTee Company, Bubble Tea House Company, Ten Ren’s Tea Time, Boba Box Limited, Sumos Sdn Bhd, Gong Cha USA, Boba Tea Company, Troika JC. (Qbubble) and Fokus Inc.
Bubble tea market share, by geography
The bubble tea market in the Asia Pacific is experiencing a rapid growth rate as bubble tea has gained popularity thanks to its low price, improved taste and availability of new and varied flavors. besides, rapid urbanization and the growth of ready-to-drink beverages in the region are stimulating market growth.
World bubble tea market, by basic ingredient
The bubble tea segment is estimated to be the most lucrative segment and represents a significant share of the global bubble tea market, as it offers health benefits, such as preventing cancer and cardiovascular disease, reducing cholesterol, improved metabolism, helps with weight loss, and reduces the risk of type II diabetes also like Alzheimer’s and Parkinson’s.
World bubble tea market, by Flavor
The fruit-flavored bubble tea segment is expected to grow at a rapid pace over the forecast period, due to its consumer preference, variety of flavors and high nutritional value compared to other flavors.
Key benefits for stakeholders
The report presents the current trends and the future scenario of the bubble tea market from 2017 to 2023 to know the existing opportunities and therefore the investment pockets.
The main countries of each region are mapped according to the income of the individual market.
The Porter Five Force model helps to seek the potential of buyers and suppliers, and therefore the competitive outline of the market, which should guide market players to develop strategies accordingly.
The main drivers, constraints, and opportunities, as well as their detailed impact analyses, are provided.
Bubble Tea Market Key Segments:
By Base Ingredient
Rest of Europe
Rest of Asia-Pacific