The increasing demand for beverages such as tea and coffee around the world is driving the global bubble tea market, states Fortune Business Insights in a report, titled “Bubble tea: Global Market Analysis, Insights and Forecast, 2019-2026.” The Bubble tea market was valued at US$ 1.89 Bn and is predicted to reach US$ 3.49 Billion by 2026, exhibiting a CAGR of 8.09%.
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List of major companies In The Global Bubble Tea Market:
By type, the global bubble tea market is segmented into black tea, green tea, oolong tea. Black tea is expected to dominate the bubble tea market owing to the increasing health-conscious consumers across the world. The rising shift towards organic food products will speed up the growth of the segment in the forthcoming year.
The report provides descriptive and cumulative insights on the bubble tea industry. A comprehensive analysis of the bubble tea market in terms of market size and growth rate for all the segments.
Product Launches By Key Players Will Favor Growth
The rising consumer demand for bubble tea has impelled companies to launch a range of flavorful bubble tea options for the consumers. For instance, Secret Recipe has launched a series of various bubble tea or boba tea flavors such asboba caramel milk tea, boba brown sugar with milk, boba milk tea, boba brown sugar milk tea, boba kopi-C, boba signature fruit tea, boba cham, and boba midnight blue.
Furthermore, The unveiling of bubble tea chains to cater to the rising demand from the consumers will boost the global bubble tea revenue. For instance, The Alley, a renownedTaiwanese bubble tea chain opened its first outlet in New York City.
The ingredients used by the Alley are imported from Taiwan and its tapioca pearls are made in house. The most popular item is the “brown sugar deerioca” made with creme brûlée milk, an aesthetically pretty ombre-looking drink that nods to the brand’s deer logo. These factors and trends together are expected to facilitate the global bubble tea market growth during the forecast period.
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Rising Demand For Beverages Will Propel Bubble Tea Market Growth
The increasing consumption of beverages such as coffee and tea around the world is encouraging the global bubble tea market growth. Bubble tea is associated with various names such as boba tea, pearl milk tea, boba juice, bubble milk tea, or just simple bubble tea. Bubble tea is very advantageous and possesses numerous health benefits, which makes it an attractive beverage for health-conscious consumers.
The low-fat nature and low-calorie content of bubble tea will make it a demandable beverage. The global bubble tea market is predicted to witness exceptional growth in the forthcoming year owing to the presence of various elements attributed to the health benefits present in the bubble tea such as antioxidants.
Furthermore, There has been a surge in the consumption of black tea due to its anti-inflammatory properties. This factor will fuel demand among people living a health-centric lifestyle, which will, in turn, contribute to the global bubble tea market shares.
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To view the original version on The Express Wire visit Bubble Tea Market Analysis 2019 Global Industry Forecast to 2026: By Size, Growth, Trends, Share, And Regional Forecast