Who Dies In Hollyoaks This Week, Katie Castro Abc News Philadelphia, Alvie Coes Funeral Home Obituaries, Duluth Junior Gold Hockey Tournament 2022, Microtech Knives In Stock, Articles B

Although people of all ages frequently enjoy bubble teas across the globe, younger people tend to drink them more frequently. With globalization, new trends have started striking the food service market, thereby influencing the young generation to try new beverages. Girls and women are the primary demographic among bubble tea drinkers, with 95% having tried it. 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 . 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 Future Market Insights Global and Consulting Pvt. Apart from the variety of flavors available, one of the primary elements fueling the expansion of bubble tea Industry is the health benefits. page 1 . The global bubble tea market size was USD 2.1 billion in 2019 and is expected to register a compounded annual growth rate (CAGR) of 8.9% from 2020 to 2027. Pearl Lemon Boba Unit 4 Building, 250 North End Rd, London SW6 1NJ, United Kingdom. Bubble Tea is a famous non-alcoholic beverage drink that first . What are the key factors driving the market? Bubble tea has a milk base and includes ingredients like chewy tapioca balls, or fruit jelly and boba. We are happy with the professionalism of your in-house research team as well as the quality of your research reports. Although the drink was originally created in Taiwan, its signature ingredient is primarily grown in Nigeria, Thailand, Indonesia, and Brazil. 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. The United States and Australia were both introduced to bubble tea in the mid-1990s, and it has been growing in popularity ever since. Bubble tea has a sweet, sour, and tangy taste that varies depending on the type of fruit used. Your email address will not be published. Quick Facts. Young people between ages 20 and 29 are interested in bubble tea. The article shared insights on the bubble tea craze in Southeast Asia. Nearly everyone in Thailand enjoys drinking bubble tea, to the point that they have surpassed every other country in the amount that they drink! In addition, aggressive advertisements and celebrity end orsements have also helped the global market to pave its way toward growth. Jan 2023. Future Market Insights Global and Consulting Pvt. Tea is a beverage made by pouring hot water over cured leaves. This is a decrease, compared to the growth of about 7.64% per year, registered in 2015-2019. 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. Victorian Government, Department of Health and Human Services. 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. Chatime, Gong Cha, Coco Fresh Tea & Juice, and Lollicup USA, Inc. are the leading players in the market. Pearls or boba color varies depending on the additives added to the tapioca and this segment is one of the most trending bubble tea across the world. The demand for bubble tea is predicted to grow at an impressive rate. Malaysia Coffee & Tea Reports: Our 2023 Malaysia report include trends, statistics, opportunities, sales data, market share, segmentation projections on the Coffee & Tea market. 4364..55.011 - Australian Health Survey: Consumption of added sugars, 2011-12. We calculate that for a 700 ml or 24 oz serving of bubble milk tea, which is usually the large cup size in most boba shops, the total bubble tea calories are 700 kcal. Required fields are marked *. Essential Facts. Based on the base ingredient, green tea will lead the market growth over the forecast period. And if youre looking for all the facts and figures that back up our claim, you have this blog post. We selected the top 40 popular menu items from three of the most commonly used OFD applications in 2021. Europe also witnessed growth in the pearl milk tea market around the same time as other Asian countries. Such initiatives further support the immense growth opportunities for the companies. Sometimes they are blended with ice to give them a more slushy-like consistency. Remarkable job and great efforts by your research team. Theory seemed to meet reality . Cook for about 20 minutes. Australians drink tea and have afternoon tea and morning tea much the way the British do. Keep reading to discover everything weve uncovered about bubble tea. The Market for Bubble Tea in North America to be the Most Dominant & Fastest Growing. Thank you for contacting us, our sales representative will get in touch with you shortly! 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. Very satisfied with the overall report as it has helped me to build strategies for my business, This is regarding the recent report I bought from Fortune Business insights. Pour into a glass, and add tapioca. 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. A. Nigeria, specifically, has become a hub for cassava production. Your email address will not be published. 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! This beverage has undergone a few waves of popularity in Singapore. Thank you Fortune Business Insights for your efforts and prompt response, I had a great experience working with Fortune Business Insights. 7.1% consumed diet drinks daily. Against this backdrop, the market valuation is projected to reach US$ 245 Mn by 2032. 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. And if you have a sweet tooth, its SO GOOD. Facebook: quarterly number of MAU (monthly active users) worldwide 2008-2022, Quarterly smartphone market share worldwide by vendor 2009-2022, Number of apps available in leading app stores Q3 2022. 5. The drink became popular during the 1990s, just in time for millennials to develop a taste for it. 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. 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. Bubble tea is extremely high in calories. 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. According to a study published in the National Library of Medicine, 2022, chewing tapioca pearls can increase the salivary C-protein (CRP) and calcium (Ca) levels. Join over 60,000 Bubblers (that's what we call our lovely customers!) 30.7% of Victorian adults consumed sugar-sweetened soft drinks at least once a week. 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. A. In the Philippines alone, orders increased by 3,500 percent from June to December 2018. Pune, India, Oct. 26, 2021 (GLOBE NEWSWIRE) -- The global bubble tea market size is expected to reach USD 3.39 billion by 2027 . 87% of American millennials drink tea, including bubble tea. 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. This popular sweetened tea is made up of high-quality milk and tapioca pearls, along with fruit powder, creamer, and sweeteners. Tea is a large part of modern Australian culture due to its British origins. Countries such as Vietnam and Taiwan are projected to have the largest sales. Press release from: Analytics Market Research. Almost overnight bubble tea shops popped up around the world in multiple countries that had never had an interest in it before. Since then, however, bubble tea has expanded across the rest of Asia, and there was a sudden explosion of popularity during 2018, particularly in Singapore. The two businesses are known for their zingy fruit tea drinks. Graph. Furthermore, a decline in the growth of bubble tea consumption is witnessed due to strong restrictions on import and export facilities. Accelerated demand for healthier beverage alternatives to carbonated drinks coupled with shifts in consumer preferences is fueling market growth for bubble tea. Despite the burgeoning demand for such innovative tea beverages, the wide availability of other caffeinated and conventional drinks, such as coffee and chocolate, coupled with the prominent coffee consumption trends in Western countries, poses a threat to market growth. +44 208 097 3636. But did you know that there are six different types of bubble tea? The segment is expected to display an 11.4% CAGR, and account for more than 38% of the global market share. Unilever (Lipton), Associated British Foods (Twinings) and Tata Global Beverages (Tetley) are globally the most important players by revenue. This can be attributed to rise in the popularity of bubble tea with black tea as a base ingredient across the globe. Apart from being a healthier alternative, becoming a trending beverage, especially among younger consumers, has also aided market growth for bubble tea. Extruding the tapioca into these small balls is difficult work. To know how our report can help streamline your business, Speak to Analyst, Shift of Consumers toward Black Tea Due to its Health-Imparting Properties Boosts Market's Performance. Premium Statistic Global tea consumption 2012-2025 . Bubble milk tea has emerged as a cultural icon for the world and symbolizes Taiwans food innovation to promote its existence amidst the food service industry. At what CAGR is the bubble tea market projected to grow in the forecast period (2022-2029)? info@pearllemongroup.com. Nevertheless, manufacturers are trying to introduce new beverage options, such as bubble milk tea, in the market. For instance, Nextrends Asia 2021 displayed a surge in Taiwans exports of pearl milk teas base ingredients (raw materials, packaging and machinery, and others) which was an increment of 330% as compared to 2018. The global bubble teamarket holds a substantial scope for growthduring the forecast period. The global COVID-19 pandemic has been unprecedented and staggering, with bubble tea experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The United States and Australia were both introduced to bubble tea in the mid-1990s, and it has been growing in popularity ever since. Originating in Taiwan, the drink typically consists of tea, milk/cream, and sugar accompanied by tapioca pearls. Ice-blended versions are usually mixed with fruit or syrup, resulting in a slushy consistency. This, along with the rise in dairy alternatives is fueling market growth of bubble tea in the U.S. China bubble tea market is forecasted to grow at a 7.5% CAGR. Read More . 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. It is expected to be the fastest growing segment owing to consumers' inclination towards the convenience offered. When you look at the marketing for bubble tea, the numbers make sense. 1. We use cookies to enhance your experience. Such challenges cumulatively hamper the growth potential of the global market. The current valuation of the market is US$ 2.50 billion in 2022. By flavor, the market is classified into coffee, fruit, chocolate, original, and others. Both the at-home and the out-of-home market are valued at retail selling prices including all sales and consumption taxes. Consumer Shift toward Healthy Alternatives to Favor Growth. The devotion to bubble tea is so fanatical that in 2020, at the cusp of the circuit breaker, an argument broke out between a food rider and store employees about a hold-up in orders. In Asia, however, it is equally popular among men and women and is seen as a cultural phenomenon. Bubble tea is known for its sweet taste. The key players in the industry receiving high levels of popularity and response from customers are franchising their businesses into different locations. Online retailing is predicted to register an 11.9% CAGR. Availability of Other Caffeinated Drinks to Impede Growth. In-depth analysis and the bubble tea market size and segmentation assists in determining the prevailing bubble tea market opportunities. We dont recommend anyone making it a daily indulgence. 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. 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. 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. Market size and forecast, by Base Ingredient, 2020-2028 7.3.9.2. https://www.grandviewresearch.com/industry-analysis/bubble-tea-market, https://foodinstitute.com/focus/survey-millennials-gen-z-big-fans-of-bubble-tea/, https://youthinsight.com.au/brands/more-girls-aware-of-bubble-tea-than-boys/, https://www.cnn.com/travel/article/taiwan-bubble-tea-origins/index.html, https://www.duluthnewstribune.com/8-things-you-might-not-know-about-bubble-tea-and-other-unexpected-holidays-this-week, https://www.fortunebusinessinsights.com/industry-reports/bubble-tea-market-101564, https://www.organicfacts.net/health-benefits/herbs-and-spices/bubble-tea.html, https://chinamarketadvisor.com/what-is-boba-and-why-is-it-so-popular/, https://theaseanpost.com/article/southeast-asias-bubble-tea-craze, https://www.worldteanews.com/Insights/millennials-and-gen-z-drive-21st-century-tea-preferences, https://www.honestfoodtalks.com/bubble-tea-flavors-boba-toppings/, https://www.healthline.com/nutrition/boba-cancer, https://mtalvernia.sg/education/whats-in-my-bubble-tea/, Tea thats infused with milk or another liquid, Artificial sweetener like stevia or sugar (more on this below), Special straws designed to make the best bubbles possible. Request a Free sample to learn more about this report. Asia Pacific Bubble Tea Market Size, 2021 (USD Billion), To get more information on the regional analysis of this market, Request a Free sample. Originally created in Taiwan in the 1980s, bubble tea has quickly exploded in popularity. Insights. What may surprise you though is the amount of sugar! In addition, as Europe is not highly indulged in tea production and mostly relies on other regions for the supply of tea, it somehow limits the market growth. Which is the leading segment based on the product type in the market? 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 . 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 likely due to its naturally sweet flavor and all of the different varieties of teas that are available. 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. Tea, from the plant Camellia sinensis, is consumed in different parts of the world as green, black, or Oolong tea.Among all of these, however, the most significant effects on human health have been observed with the consumption of green tea [].The first green tea was exported from India to Japan during the 17th century. A. Key players in the global bubble tea market are focusing on releasing novel and unique flavors of bubble tea. Due to widespread popularity and prevailing trends as well as the presence of many bubble tea manufacturers in this region, the bubble tea market in China is expected to continue to flourish over the forecast period. The mean age of study participants was 24 years and the age range was 18 or older to younger than 30 years. Versatility in flavor, health benefits, and social media trends drive the market. 13. It is made using green tea, white tea, black tea, or oolong tea. Companies in the Industry are Aggressively Expanding their Franchisees to Cater to the Growing Demand. An Infographic Representation of Bubble Tea Market, To get information on various segments, share your queries with us. Data at LGA level is also presented. 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. The black tea segment is projected to grow at a significant CAGR during the forecast period, owing to its increased preference by health-conscious consumers across every region. This was attributed to rise in the fitness conscious people across the globe. 7. This can be attributed to change in preference of consumers toward healthy beverages and better taste. 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. One such brand riding that success locally is Chatime, a Taiwanese-founded bubble tea business which chose Australia as its first-ever Western market almost 10 years ago in 2009. There are many teas, they can vary in . When we say that bubble tea is insanely popular, were not joking. Its not just the sugar that gives these drinks their sweetness, though; many restaurants also add sweeteners to them. It also offers a detailed analysis of the market size and growth rate for all possible market segments. [1] Revenue in the Tea segment amounts to US$1.40bn in 2023. FB : Beverages| Pages: 261 | Author(s) : Vaibhav S , Roshan D, Single User License, Five User License & Enterprise User License. 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 . Bubble tea typically sells for about $3 to $5 for a 16- to 20-ounce serving. Furthermore, there has been an increase in boba stores in the U.S. and Canada, owing to the shift in consumer preferences toward no andlow-alcohol beverages, which has further contributed to the market growth. Bubble tea is a beverage originating from Taiwan comprising tea with fruit syrup or milk added, and then shaken. 1 2 3 8. Statista. Most bubble tea recipes contain a tea base mixed with fruit or milk, to which chewy tapioca balls (known as bubbles, pearls, or boba) and fruit jelly are often added. Aug 16, 2022, 1:25 PM SGT. 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. Tea stands were set up in front of the schools and would compete for business with the best selling tea. In fact, tea was aboard the First Fleet in 1788. Our objective was to assess the nutritional profile of popular menu items available through OFD applications in Bangkok, Thailand. Table I : Prevalence1 of Bubble Tea Consumption among Students in University of Cyberjaya according to Sociodemographic Descriptions Sociodemographic description Bubble tea consumption Consume, n (%) Do not consume, n (%) Total, n (%) . 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. 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. But in case you dont Its tea served with a giant chewy ball of tapioca at the bottom of the cup. This is a very good piece of work and will be very helpful to us going forward. Bubble tea consumption statistics show that Thais drink six bubble teas per month. This was attributed due to rise in the consumption of tea based everages across the world. The market is anticipated to be valued at US$ 46.0 Mn in 2032. In relation to total population figures, per person revenues of US$53.14 are generated in 2023. How Much Is the Bubble Tea Industry Worth. In the Tea segment, volume is expected to amount to 18.6mkg by 2025. Rising Raw Material and Transportation Cost Due to the Pandemic to Slow Down the Market Growth. Some of the most popular fruit flavors include strawberry, blueberry, green apple, pineapple, passion fruit, mango, lemon, watermelon, grape, peach, cantaloupe, banana, and kiwi among others. Thailand leads in . The option to customize your bubble tea, availability at most cafes, restaurants, convenience, and grocery stores as well as the variety offered has contributed to the market growth. It should be no surprise then that sugar is a primary ingredient in the drink. The rise in online food delivery (OFD) applications has increased access to a myriad of ready-to-eat options, which may lead to unhealthier food choices. In 2014, over 77% of the tea brewed in the United States was prepared using tea bags. In this article, I'll be sharing detailed statistics on bubble tea consumption - so if you're as curious as I am about this popular beverage, read on! 03 Locally called "po po ch," Singapore has sold bubble tea since 1992. In the next five years, the bubble tea industry is expected to grow by nearly 54%. This bubble tea craze has taken over. 10. 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.. Rinse, drain, and refrigerate until chilled. Pearl Lemon Boba Unit 4 Building, 250 North End Rd, London SW6 1NJ, United Kingdom. 2016. Thank you for requesting a call back, our sales representative will get in touch with you shortly! This segment does not include herbal tea, instant tea, iced tea or similar tea-derived Ready-to-Drink beverages. These drinks are made with milk tea and tapioca pearls (to make the bubbles), which contain a lot of natural sugar. 02 Each tapioca ball has 5 to 14 calories. The outbreak of COVID-19 forced government bodies to impose strict closure of restaurants, farms, and factories to maintain safety measures and implement social distancing. Over of the bubble tea enjoyed around the world is fruit-flavored. 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. By base ingredient, it is divided into black tea, green tea, oolong tea, and white tea. 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. Get a Sample Copy of the Report @ https://www.futuremarketinsights.com/reports/sample/rep-gb-12310. The segment will depict a robust 11.8% CAGR and account for more than 26% of the market share. 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.