According to Facts and Factors, the Global Bubble Tea Market size was valued at around USD 2.1 billion in 2020 and is estimated to grow about USD 4.5 billion by 2026, at a CAGR of approximately 8.1% between 2021 and 2026. The key participants in the global bubble tea market are Chatime Group, Bubble Tea Supply, Inc., Gong Cha, CoCo Fresh Tea & Juice, Kung Fu Tea, Tiger Sugar, Boba Luca USA, Inc., Lollicup USA, Inc., Happy Lemon, Fokus, T Bun International, Troika JC., Ten Ren’s Tea Time, Sumo, and others.
TOKYO, JAPAN, Sept. 28, 2022 (GLOBE NEWSWIRE) -- Facts and Factors has published a new research report titled “Bubble Tea Market By Type (Black Tea, Green Tea, Oolong Tea, & White Tea), By Flavor (Classic, Fruit, Chocolate, Coffee, & Others), By Component (Flavor, Creamer, Sweetener, Liquid, Tapioca Pearls, & Others), And By Regions - Global & Regional Industry Perspective, Comprehensive Analysis, and Forecast 2021 - 2026” in its research database.
“According to the latest research study, the demand of global Bubble Tea Market size & share was valued at approximately USD 2.1 billion in 2020. The market is expected to grow above a CAGR of 8.1% and is anticipated to reach over USD 4.5 billion by 2026.”
The report analyses the market’s drivers and restraints, as well as the impact they have on-demand throughout the projection period. In addition, the report examines global opportunities in the global Bubble Tea market.
Bubble Tea Market Overview:
Bubble tea or pearl milk tea or bubble milk tea or boba is a tea-based drink that has origins in Taiwan from the early 1980s. It is a refreshing drink that is a combination of tea accompanied by chewy tapioca balls and a mixture of other components that give the tea a sweet-savory taste.
There are a huge variety of flavors and taste in bubble tea; however, the most popular flavors are black pearl milk tea and green milk pearl tea. Usually, bubble tea can be summed up with or without milk. Its name primarily originates from the appearance of the bubbles in the drink after it is extracted from the shaking machine.
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Industry Growth Factors
The global bubble tea market is governed by factors pertaining to increased consumption of tea and coffee as non-tropic drinks among students and the working class population coupled with health benefits such as zero fat and low-calorie content. Furthermore, recent studies have indicated that regular consumption of bubble tea leads to improved concentration and radiates brain functions. Moreover, the increasing consumption of popular flavors such as fruits, chocolate, and simply classic is likely to propel the growth of the global bubble tea market during the forecast. Increased preference for tea and coffee over other forms of carbonated forms of drinks will open new revenue streams for the global bubble tea market over the forecast. The increasing popularity and rising preference for healthy drinking beverages will further augment the growth of the global bubble tea market.
The rise of the millennial population and hectic lifestyle coupled with an increased intake of energy demands for smooth functioning will further increase the footprint of the global bubble tea market. Additional factor including aggressive marketing strategies by celebrities and brands is expected to attract a wider range of consumer base over the forecast period. Moreover, rising consumer preference and stringent restrictions & regulations associated with the safety standards during production will further boost the sales toward a higher volumetric measure. However, excessive sugar content and lockdown restrictions due to COVID-19 are expected to hamper the growth of the market to a certain extent.
Key Insights from Primary Research
As per the analysis, the Bubble Tea market is likely to grow above a CAGR of around 8.1% between 2022 and 2028.
The Bubble Tea market size was worth around US$ 2.1 Billion in 2020 and is estimated to hit approximately US$ 4.5 Billion by 2026. Due to a variety of driving factors, the market is predicted to rise at a significant rate.
On the basis of flavor, the black tea segment is expected to occupy the largest market share during the advent of the forecast in terms of global revenue contribution for this segment.
On the basis of flavor, the fruit segment is expected to occupy the largest market share during the advent of the forecast.
On the basis of region, Asia-Pacific is expected to witness the largest market share during the advent of the forecast owing to large contributing revenue from countries such as Vietnam and Taiwan.
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Bubble Tea Market: Segmentation Analysis
The global bubble tea market can be segmented into type, flavor, component, and region.
The global bubble tea market can be divided into black tea, green tea, oolong tea, and white tea on the basis of type. The black tea segment is expected to occupy the largest market share during the advent of the forecast due to increased preference by health-conscious consumers coupled with a rising trend of organic food and beverage products. The global bubble tea market can be fragmented into classic, fruit, chocolate, coffee, and others on the basis of flavor. The fruit segment is expected to witness the largest market share during the advent of the forecast owing to the inclusion of lucrative and fruitful flavors such as lychee, mango, passion fruit, peach, plum, strawberry, avocado, kiwi, lemon, and others.
Furthermore, studies indicate that the nutritional value compared to its counterpart is extremely high. These factors will cement the dominant position of the market in the forecast. The global bubble tea market can be broken down into flavor, creamer, sweetener, liquid, tapioca pearls, and others on the basis of components. The liquid segment will occupy the largest market share during the advent of the forecast due to contributing factors such as easy availability and a blissful mixture of various flavors and syrups.
Asia-Pacific is expected to witness the largest market share during the advent of the forecast in terms of global revenue contribution. Countries such as Vietnam and Taiwan are expected to post the highest sales figures due to the immense popularity of the drink in the region. Furthermore, factors such as the launching of new products and cafes by key players in the region are expected to attract a larger base of consumers. North America is expected to witness the second largest market share during the advent of the forecast owing to the rising consumption of tea and rising popularity of tea-based fruity beverages. Changing preferences of consumers such as rising inclination toward non- and low-alcoholic beverages will further boost the sales of the global bubble tea market during the forecast period.
Browse in the full report “Bubble Tea Market By Type (Black Tea, Green Tea, Oolong Tea, & White Tea), By Flavor (Classic, Fruit, Chocolate, Coffee, & Others), By Component (Flavor, Creamer, Sweetener, Liquid, Tapioca Pearls, & Others), And By Regions - Global & Regional Industry Perspective, Comprehensive Analysis, and Forecast 2021 - 2026” at https://www.fnfresearch.com/bubble-tea-market
Market Size in 2020
USD 2.1 Billion
Projected Market Size in 2026
USD 4.5 Billion
CAGR Growth Rate
Key Market Players
Chatime Group, Bubble Tea Supply, Inc., Gong Cha, CoCo Fresh Tea & Juice, Kung Fu Tea, Tiger Sugar, Boba Luca USA, Inc., Lollicup USA, Inc., Happy Lemon, Fokus, T Bun International, Troika JC., Ten Ren’s Tea Time, Sumo, and others.
By Type, Flavor, Component and Region
Major Regions Covered
North America, Europe, Asia Pacific, Latin America, and the Middle East &, Africa
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The report contains qualitative and quantitative research on the global Bubble Tea Market, as well as detailed insights and development strategies employed by the leading competitors. The report also provides an in-depth analysis of the market's main competitors, as well as information on their competitiveness. The research also identifies and analyses important business strategies used by these main market players, such as mergers and acquisitions (M&A), affiliations, collaborations, and contracts. The study examines, among other things, each company's global presence, competitors, service offers, and standards.
Some of the main players in the global Bubble Tea market include:
Bubble Tea Supply, Inc.
CoCo Fresh Tea & Juice
Kung Fu Tea
Boba Luca USA, Inc.
Lollicup USA, Inc.
T Bun International
Ten Ren’s Tea Time
Recent Industry Developments:
Gong Cha, A Taiwan-based firm is expanding at an aggressive pace and is expected to launch around 1,000 stores operating in 17 countries.
Chatime Malaysia recently revealed its five-year plan which focuses on expanding its footprint outside its region in countries such as India, U.S, Singapore, and Saudi Arabia.
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The global Bubble Tea market is segmented as follows:
By Type Segment Analysis
By Flavor Segment Analysis
By Component Segment Analysis
By Regional Segment Analysis
Rest of Europe
Rest of Southeast Asia
The Middle East & Africa
Rest of the Middle East & Africa
Rest of Latin America
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Market Size, Trends, & Forecast by Revenue | 2021−2026
Market Dynamics – Leading Trends, Growth Drivers, Restraints, and Investment Opportunities
Market Segmentation – A detailed analysis by Type, Flavor, Component and Region
Competitive Landscape – Top Key Vendors and Other Prominent Vendors
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