Tea is a large part of modern Australian culture due to its British origins. Data at LGA level is also presented. The market was expected to reach a valuation of US$ 2.3 Bn by the end of 2021. October 26, 2021 13:00 ET | Source: Fortune Business Insights. Pearl Lemon Boba Unit 4 Building, 250 North End Rd, London SW6 1NJ, United Kingdom. Based on our analysis, the global market exhibited a slower growth of 2.76% in 2020 as compared to 2019. 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. Alcoholic Tea Market size is valued at USD 1,958.73 billion by 2028 and is expected to grow at a compound annual rate of 7.00% in the forecast period . 5. Published. Symptoms of . 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. Also, due to the strong dependency on Asian countries to source raw materials, such as tapioca balls, from Taiwan, it hinders the production process and impacts their overall operations. Over 90% of the tea consumed is Black Tea, about 5% Green Tea, 1% Oolong Tea and the balance flavored, scented, or mixed teas. Increasing Inclination of Consumers toward Versatile Teas with Innovative Bold Flavors is a Prominent Trend. In the United States, 95% of women have tried bubble tea as opposed to 81% of men. Heycha and Yicha both have similar-sounding names and include refreshing fruit teas as part of their star offerings. Singapore market is forecasted to grow at a CAGR of 10.7%. The market value of the bubble tea market is anticipated to reach a high of US$ 5.82 billion by the year 2032. This is a decrease, compared to the growth of about 7.64% per year, registered in 2015-2019. One concession owner became popular with her . Such initiatives further support the immense growth opportunities for the companies. Versatility in flavor, health benefits, and social media trends drive the market. Sometimes they are blended with ice to give them a more slushy-like consistency. 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. Tea is considered the second most popular drink of choice worldwide. Most other Southeastern Asian countries drink three cups monthly on average. A. 02 Each tapioca ball has 5 to 14 calories. Malaysia Coffee & Tea Reports: Our 2023 Malaysia report include trends, statistics, opportunities, sales data, market share, segmentation projections on the Coffee & Tea market. 2016. 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. Tapioca pearls are made from cassava flour, of which Nigeria is the worlds largest exporter (21%). Overall, though tea registered. The industry shows no signs of slowing down, and in fact, appears to be growing exponentially with every passing year. 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. 11. This can be attributed to rise in the popularity of bubble tea with black tea as a base ingredient across the globe. Because of its proximity to Taiwan, where bubble tea was created, China quickly became a fan of the sweet beverage. So, if we live in a postcode that is all expats, we would assume a 70% chance of a bubble tea shop being located there. 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). Presently, themarket is moving toward growing stage and is expected to garner steady growth in major markets, which include the U.S., Germany, China, India, and Brazil. The article shared insights on the bubble tea craze in Southeast Asia. Looking forward to work together in the future, It has been a delightful experience working with you guys. 4. Modern Asian Desserts, expanded its business in the country by introducing various boba milk tea outlets. A. Your email address will not be published. Moreover, based on the study by the finance-based startup, Momentum Works and payment startup, Qlub, Indonesias bubble milk tea market ranked first among all the Southeast Asian countries. This can be attributed to the availability of various options such as combination of various liquid flavors and syrups. As of December 2018, GrabFood's bubble tea network encompasses over 1,500 brands with 4,000 outlets throughout . For instance, the base ingredients required for the preparation of black or green tea are exported from India, but due to the imposed regulations, companies were unable to process the demands of the manufacturers. "Market Intelligence that Adds Flavour to Your Success", Region : Global | Format: PDF | Report ID: FBI101564. 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. The two most popular varieties are bubble milk tea with tapioca and bubble milk green tea with tapioca. China is projected to exhibit a 7.5% CAGR. 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. Bubble tea is a sweet, delicious drink typically made from a tea base that is then mixed with either milk or fruit flavoring.
Tea is an aromatic beverage derived . The types include milk tea, black tea, fresh fruit tea, smoothies or milkshakes, fresh milk, and salted cream. Theres a lot more to bubble tea than meets the eye, and weve discovered all of the reasons that its a global favorite. Awareness about health issues and their relation to meat consumption has resulted in a shift towards vegan and plant-based diets. Toss in the pearl tapioca. Tea is a beverage made by pouring hot water over cured leaves. The emerging players in the Bubble Tea Market are Bubble Tea Supply Inc., ChaTime, CoCo Fresh, Quickly, Kung Fu Tea, Boba Loca, Happylemon, Share Tea, T Bun International, Fanale Drinks, Grand Chainly, and Huey-Yuhe Enterprise. To get the sample of bubble tea market report, click on the link (Please paste the link here). 1. The global Bubble Tea Market is expected to $4,368.6 million in 2027. Its iced or hot black or green tea mixed with chewy tapioca balls that are often flavored. We dont recommend anyone making it a daily indulgence. +44 208 097 3636. In relation to total population figures, per person revenues of US$53.14 are generated in 2023. 297 billion liters of tea were consumed worldwide in 2021. This was attributed due to rise in the consumption of tea based everages across the world. The region is witnessing a cross-cultural food consumption trend, and the growing health and wellness approach is also expected to boost the growth. It looks quite comprehensive and the data is exactly what I was looking for. 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. Rising consumption of tea and coffee as nootropic drinks among students and working-class population is a key factor for the market growth. Apart from the variety of flavors available, one of the primary elements fueling the expansion of bubble tea Industry is the health benefits. The bubble tea market was valued at $2.4 billion in 2019 and is estimated to reach $4.3 billion by 2027, registering a CAGR of 7.80% from 2020 to 2027. The report segments the global bubble tea market based on base ingredient, flavors, component, and region. Which region held the highest share in the market? Were big enough to handle massive projects, and yet also nimble enough to come up with names on demand that hit every time. An Infographic Representation of Bubble Tea Market, To get information on various segments, share your queries with us. Followed by black tea, the green tea segment is expected to hold a major percentage of the market share. Millennial Tea Drinking Stats - Tea continues to gain market share in surprising areas. Strong dependency on Asian countries to source raw materials acts as one of the major restraints in the market. This is a very good piece of work and will be very helpful to us going forward. By flavor, the market is classified into coffee, fruit, chocolate, original, and others. Drum To Hopper Blends Premix Market Forecast: The global drum to hopper blends Premix market is expected to reach a valuation of US$ 752.1 Mn in 2022, with demand increasing at a CAGR of 7.4% over the assessment period. In the Tea segment, volume is expected to amount to 18.6mkg by 2025. The segment is expected to display an 11.4% CAGR, and account for more than 38% of the global market share. Moreover, higher expenditure of consumers on healthy beverages adds to the popularity of bubble tea in theregion. Which is the leading segment based on the product type in the market? In the Philippines alone, orders increased by 3,500 percent from June to December 2018. Insights. Market size and forecast, by Base Ingredient, 2020-2028 7.3.9.2. The bright colors and availability of sweet and fruity flavors especially appeal to children . There are six official types of bubble tea. 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. 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. In 2020-21, of people aged 18 years and over: 6.4% consumed sugar sweetened drinks daily. 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. Against this backdrop, the market valuation is projected to reach US$ 245 Mn by 2032. Australia . Contact Sales for Further Assistance in Purchasing this Report @ https://www.futuremarketinsights.com/checkout/12310. 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. But in case you dont Its tea served with a giant chewy ball of tapioca at the bottom of the cup. Grab also reported that on average, Southeast Asians drink an average of four cups of pearl milk tea per person per month. Essential Facts. 17 Aug 2022 12:37PM (Updated: 17 Aug 2022 06:16PM) SINGAPORE: Bubble tea lovers in Southeast Asia spend US$3.66 billion a year on the beverage and similar "new tea" drinks, with Singapore . Moreover, rise in consumption of flavored bubble tea in young generation fuels thebubble tea market growth. 16. According to the Indian Tea Association 2020, tea price has risen by 25%-40% on an average due to lockdown in the tea growing regions, leading to a drop in crop size along with disruptions in transportation and logistics. In theory, the bubble tea pearls could stick together and form rather difficult to pass blobs, especially when other ingredients are making them thicker and sturdier. The market is anticipated to be valued at US$ 46.0 Mn in 2032. Bubble tea consumption gender-wise: According to the statistics, bubble tea is a favorite drink of women. We value them as a research company worthy of building long-term relationships., Well done Fortune Business Insights! 6. 10. The global bubble tea market size was valued at USD 2.17 billion in 2021. The campaign will be extended due to the tremendous profit achieved, which motivates the company to broaden its product offerings and brand position. Bubble tea is a drink made from tea (usually black tea), milk, syrup, and a special ingredient that captivates the hearts of Chinese people: tapioca pearls. The incredible success of bubble tea in China since 1996. Bubble tea is also known as pearl milk tea. Directly accessible data for 170 industries from 50 countries and over 1 million facts: Get quick analyses with our professional research service. And if you have a sweet tooth, its SO GOOD. The price for bubble tea depends on where you get it. 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. Fruit Flavor Segment is Dominating Backed by High Consumer Preference. The at-home market, also called off-trade market, covers all retail sales via super- and hypermarkets, convenience stores or similar sales channels. Unilever (Lipton), Associated British Foods (Twinings) and Tata Global Beverages (Tetley) are globally the most important players by revenue. If you love bubble tea and are looking for a make your own bubble tea kit, this is the place! How much is the global bubble tea market worth? The global organic tea market size was USD 820.8 million in 2019 and it is projected to reach USD 1,918.7 million by 2027, exhibiting a CAGR of 11.2% during 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. The availability of different types of milk tea offers numerous options for consumers to enjoy.
Availability of a Wide Range of Products for Enticing Younger Generation to Boost Growth. Six in ten (59.7%) did not usually consume either sugar sweetened or diet drinks. | Source:
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. Although there are plenty of bubble tea flavors to choose from, fruit teas tend to be the most popular. Press release from: Analytics Market Research. 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. Its not just the sugar that gives these drinks their sweetness, though; many restaurants also add sweeteners to them. Bubble tea typically sells for about $3 to $5 for a 16- to 20-ounce serving. Tea is the second most popular drink in the world, with water at first place. Statista. BBT Club is Australia's leading DIY bubble tea company for anywhere and anytime. 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. Future Market Insights Global and Consulting Pvt. Quick Facts. Meanwhile, Philippinos drink five cups of this tea per month. 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. US Coffee Statistics. Statista. 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 tea has a sweet, sour, and tangy taste that varies depending on the type of fruit used. If theres one thing you can count on, its that bubble tea is going to be more popular among women than men. What may surprise you though is the amount of sugar! There are 250 different flavors of bubble tea. However, the sweeteners segment is expected to witness the highest growth, owing to rise in demand for sweet beverages across the globe. A typical serving of bubble tea at a chain might cost $3 to $5 for a 16- to 20-ounce cup. The Middle East & Africa showcases a slower growth as pearl milk tea is consumed as a social drink or as a gesture of hospitality. China is a major bubble tea manufacturer. India and Australia will lock horns in the Third Test of the ongoing Border-Gavaskar Trophy at Indore's Holkar Cricket Stadium from March 1 onwards. 8. 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. (2.Americans rank 25th for coffee consumption per capita, with an average consumption of 4.2 kg per person per year. Green tea. Availability of Other Caffeinated Drinks to Impede Growth. 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. Start reading instantly ,This Report and over 19,845+ more Reports, Available with Avenue Library, T&C*, WRITE AN EMAIL help@alliedmarketresearch.com, U.S. - Canada :+1-800-792-5285 (Toll-free) Int'l : +1-503-894-6022 UK : + 44-845-528-1300. 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. 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 . Cassava flour itself comes from the cassava root, which is native to South America but has become a staple food in many African nations. This can be attributed to the rise in awareness regarding healthy lifestyle and higher adoption of healthy beverages by health-conscious consumers. The growing interest of consumers in innovative beverages with bold flavors and their willingness to experiment with various flavors is captivating the consumers attention, which contributes to fueling the market growth. By component, it is classified into flavor, creamer, sweetener, liquid, tapioca pearls, and others.