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Published. 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. Ask an Analyst@ https://www.futuremarketinsights.com/ask-question/rep-gb-12310, Explore FMIs Extensive Coverage on Food and Beverage Domain. 01 The first bubble tea came out in the early 1980s. 17 Aug 2022 12:37PM (Updated: 17 Aug 2022 06:16PM) SINGAPORE: Bubble tea lovers in Southeast Asia spend US$3.66 billion a year on the beverage and similar "new tea" drinks, with Singapore . When we say that bubble tea is insanely popular, were not joking. Bubble Tea Popularity Statistics Singapore; by palmebre Published: July 20, 2021 (2 days ago) Category. Symptoms of . Grab also reported that on average, Southeast Asians drink an average of four cups of pearl milk tea per person per month. The mean age of study participants was 24 years and the age range was 18 or older to younger than 30 years. 11. According to a recent CLSA survey of consumers, 94% of those aged between 20 and 29 bought boba tea in the last three months, reported Bloomberg (June 24). 10. Various key insights presented in the report are an overview of related markets, competitive landscape, recent industry developments such as mergers & acquisitions, regulatory scenario in critical countries, and key bubble tea industry trends. The forecast period in the global bubble tea market report is 2019-2027. a more convenient consumption option, compared with hot cereals, which can require the addition of boiling water or milk. Singapore market is forecasted to grow at a CAGR of 10.7%. In the United States, 95% of women have tried bubble tea as opposed to 81% of men. Such challenges cumulatively hamper the growth potential of the global market. In 2016, 19.4 per cent of That number increases when you go up in size to 469 calories and only gets worse as you add in more toppings or extra flavors. Introduced to China in the early 1990s, it quickly became one of the most popular drinks in the nation. The report was very accurate and as per my requirements. Tea is the second most popular drink in the world, with water at first place. Tea is an aromatic beverage derived . Ltd. NEWARK, Del, July 26, 2022 (GLOBE NEWSWIRE) -- The global bubble tea market is projected to reach a value of US$ 5.5 Bn by 2031, with sales growing at a robust CAGR of 8.8% for the forecast period of 2021-2031. However, since the ease of lockdowns, governments have proposed several initiatives and strategies to help the companies in recovering the losses across the globe. 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. Moreover, higher expenditure of consumers on healthy beverages adds to the popularity of bubble tea in theregion. The research report includes quantitative and qualitative insights into the market. China is a major bubble tea manufacturer. Unilever (Lipton), Associated British Foods (Twinings) and Tata Global Beverages (Tetley) are globally the most important players by revenue. 1 2 3 8. According to the report, bubble tea orders had increased at a whopping 3,000 percent in 2018. As per the latest report by FMI, the U.S. bubble tea market is expected to register a 12.4% CAGR during the forecast period. 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. Among various flavors, fruit flavor is more popular, and this segment dominated the market in 2019. Consumption declines with age. 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. It's common for bubble tea brands to include "cha" in their names, which means "tea" in Chinese. The Bubble Tea Club Kit has everything you need to make delicious homemade bubble tea. The market is anticipated to be valued at US$ 46.0 Mn in 2032. 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. Why buy this report? 6. Contact Sales for Further Assistance in Purchasing this Report @ https://www.futuremarketinsights.com/checkout/12310. The Mayo Clinic state that up to 400 mg of caffeine a day is probably safe for most healthy adults. For those looking to cut back on sugar, bubble tea may not be the best choice. Statista. 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. Pune, India, Oct. 26, 2021 (GLOBE NEWSWIRE) -- The global bubble tea market size is expected to reach USD 3.39 billion by 2027 . 2023 Allied Market Research. It also offers a detailed analysis of the market size and growth rate for all possible market segments. Brands, such as Koi The Co, Moge Tee, and M.A.D. However, the sweeteners segment is expected to witness the highest growth, owing to rise in demand for sweet beverages across the globe. Although there are plenty of bubble tea flavors to choose from, fruit teas tend to be the most popular. "Market Intelligence that Adds Flavour to Your Success", Region : Global | Format: PDF | Report ID: FBI101564. A. Rinse, drain, and refrigerate until chilled. Originating in Taiwan, the drink typically consists of tea, milk/cream, and sugar accompanied by tapioca pearls. 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. 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 . Toss in the pearl tapioca. 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. Brands such as CHATIME and Bubbolitas established their first production units of boba drinks in 2009, and since then, the market has witnessed a growth trajectory. Cook for about 20 minutes. 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 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. Adults' total beverage consumption drops steadily with age. Bubble tea truly is an international drink! The article shared insights on the bubble tea craze in Southeast Asia. That is approximately four cups of brewed coffee, 10 cans of cola or two "energy shot . This means, market totals are not comparable to published data from prior years. About | Privacy Policy |Contact | Advertise | Support. 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. Were guessing you already know what bubble tea is. The bubble tea industry was valued at $2.2 billion in 2019. Accelerated demand for healthier beverage alternatives to carbonated drinks coupled with shifts in consumer preferences is fueling market growth for bubble tea. By base ingredient, it is divided into black tea, green tea, oolong tea, and white tea. | Source: The average volume per person in the Tea segment is expected to amount to 0.68kg in 2023. After experiencing a downfall due to fierce market competition in 2003, the bubble tea market was revived in 2007 with the entry of several foreign brands. Find your information in our database containing over 20,000 reports, Consumer Market And if youre looking for all the facts and figures that back up our claim, you have this blog post. 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 Tea segment in Australia is projected to grow by 2.61% (2023-2025) resulting in a market volume of US$1.47bn in 2025. . For instance, in April 2022, U.S. based start-up namely Bubluv Inc. launched tapioca starch and konjac based bubble tea in three flavors, black milk tea with tapioca pearls, matcha soy latte with tapioca pearls, and oolong guava with tapioca pearls. Quinoline Yellow WS Market Analysis: The global quinoline yellow WS (water soluble) market is projected to reach a valuation of US$ 28.5 Mn in 2022, growing at a CAGR of 3.9% between 2022-2032. Bubble tea is known for its sweet taste. The global Bubble Tea Market is expected to $4,368.6 million in 2027. Australia: 0.75 kg (1.65 lb) 17 Virtually any flavor that you can imagine exists with bubble tea. For instance, in April 2020, a bubble tea company Chatime launched oat milk-based tea such as Chatime Pearl Milk Tea and Grass Jelly Roasted Milk Tea for lactose intolerant consumers. More Insights into the Bubble Tea Market Report. 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. Among participants, 647 (88%) consumed less . The United States and Australia were both introduced to bubble tea in the mid-1990s, and it has been growing in popularity ever since. The ICC World Test Championship final will be played in The Oval, London from June 7 to 11, where the conditions are pacer-friendly. Press release from: Analytics Market Research. 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). This is a decrease, compared to the growth of about 7.64% per year, registered in 2015-2019. But in case you dont Its tea served with a giant chewy ball of tapioca at the bottom of the cup. 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. There are many varieties of the drink with a wide range of ingredients. India is currently 1-0 up in the series, which has seen Indian spinners dominating both the tests in Nagpur and Delhi. The two businesses are known for their zingy fruit tea drinks. The global COVID-19 pandemic has been unprecedented and staggering, with bubble tea experiencing lower-than-anticipated demand . Let's assume that the daily maintenance calories for an average adult man are 2,500 kcal, and for an average adult . US Coffee Statistics. Many Thai people drink bubble tea daily, and in many cases may drink multiple cups per day. 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. The bubble tea industry is enormous and accounts for one of the fastest-growing food markets in the world today. Availability of Other Caffeinated Drinks to Impede Growth. Asia Pacific Bubble Tea Market Size, 2021 (USD Billion), To get more information on the regional analysis of this market, Request a Free sample. We selected the top 40 popular menu items from three of the most commonly used OFD applications in 2021. Coffee shop. Bubble tea, also known as Boba or Boba tea, is rapidly becoming one of the worlds favorite beverages. The bubble tea industry is expected to reach $3.39 billion by 2027. +44 208 097 3636. Europe also witnessed growth in the pearl milk tea market around the same time as other Asian countries. You can find bubble tea in these countries if youre traveling the world: Taiwan, Japan, South Korea, China, United Kingdom, Australia, Canada, United States, Germany, Mauritius, South Africa, Brazil, and more! Bakery Products Market Share: The global bakery products market is estimated to reach US$ 235 Mn in 2022. The report covered all the points and was very detailed. Bubble tea first appeared in Thailand ten years ago, but since has gone out of market trend, staged a strong comeback, and established itself in the region. These latest product ranges further act as a marketing strategy to attract a vast consumer base worldwide. The U.S. market is anticipated to register a prolific CAGR of 12.4% over the forecast period. That means 24 countries have higher consumption rates that are worth targeting. Quick Facts. However, the consumption of tea is not as prominent as the popularity of coffee in South American countries such as Argentina and Brazil. Consumer Shift toward Healthy Alternatives to Favor Growth. Ready-to-Drink variants are instead aggregated into the segment Ready-to-Drink (RTD) Tea in the Non-Alcoholic Drinks market. The consumption of organic tea rose by 1.06 million gallons in 2018. Its not just the sugar that gives these drinks their sweetness, though; many restaurants also add sweeteners to them. An Infographic Representation of Bubble Tea Market, To get information on various segments, share your queries with us. 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. Bubble tea consumption gender-wise: According to the statistics, bubble tea is a favorite drink of women. How Much Is the Bubble Tea Industry Worth. There are six official types of bubble tea. 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. Reduced sugar/ sugar-free bubble tea will gain traction over the assessment period. Bubble milk teas surge in popularity is mainly attributed to taste, affordability, and the rising reinvention of the basic tea recipe. 16. 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 . 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. 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. Coffee and tea are the most consumed as well as socially accepted nootropic beverages across the world, and many consumers are highly dependent on such caffeinated drinks before starting their day. The bubble tea market in Thailand is predicted to register an 8.7% CAGR. This popular sweetened tea is made up of high-quality milk and tapioca pearls, along with fruit powder, creamer, and sweeteners. The out-of-home market, also called on-trade market, away-from-home market or HORECA encompasses all sales to hotels, restaurants, catering, cafs, bars and similar hospitality service establishments. Bubble tea can be found on every continent today, except for Antarctica, of course! Consumption of black tea is highly promoted due to its strong antioxidant, anti-aging, and anti-diabetic properties. Thank you for requesting a call back, our sales representative will get in touch with you shortly! 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. Theory seemed to meet reality . Companies covered in bubble tea market report are ChaTime, Bubble Tea Supply Inc., Gong Cha, CoCo Fresh, Quickly, Kung Fu Tea, Tiger Sugar Korea, Boba Loca, Happylemon, Lollicup USA, Inc . 14. 7.3.9.1. This can be attributed to the rise in awareness regarding healthy lifestyle and higher adoption of healthy beverages by health-conscious consumers. How much is the global bubble tea market worth? Thank you!, I recommend Fortune Business Insights for their honesty and flexibility. 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 chewy tapioca balls or pearls are undoubtedly the stars of any bubble tea drink. 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. Boost your students confidence by putting their results next to the public's While bubble tea is enjoyed by people of all ages, it tends to be a global favorite among younger people. Revenue in the Tea segment amounts to US$1.40bn in 2023. Originally created in Taiwan in the 1980s, bubble tea has quickly exploded in popularity. July 26, 2022 10:30 ET This has led to transportation delays and the functioning of both supplies (tea estates) and demand for consumption points to a standstill due to shortage of manpower and reduced visits of customers to coffee shops amidst the lockdown. Nigeria, specifically, has become a hub for cassava production. https://www.fortunebusinessinsights.com/industry-reports/bubble-tea-market-101564, Yummy Town (Cayman) Holdings Corporation (Happy Lemon) (Taiwan), Granular Research on Specified Regions or Segments, Companies Profiled based on User Requirement, Broader Insights Pertaining to a Specific Segment or Region, Breaking Down Competitive Landscape as per Your Requirement, Other Specific Requirement on Customization. China is one of the prominent regions in the market that accounted for a sizeable share of the total market in 2019. The Market for Bubble Tea in North America to be the Most Dominant & Fastest Growing. 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