The new report by Expert Market Research titled, ‘Global Bubble Tea Market Price, Trends, Growth, Report and Forecast 2020-2025’, gives an in-depth analysis of the global bubble tea market, assessing the market based on its segments like types, flavours, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2015-2025)
• Historical Market Size (2019): USD 2.4 billion
• Forecast CAGR (2020-2025): 7.5%
• Forecast Market Size (2025): USD 3.6 billion
The global bubble tea market is driven by several factors, such as the increasing penetration of the product, growing disposable incomes, changing lifestyles, growing awareness regarding the product, overall increase in tea production and consumption, and the growing urbanisation. The market for bubble tea is further expected to increase in the forecast period owing to the introduction of innovative and healthier forms of the beverage, rising customer inclination to buy these products as a result of aggressive marketing, rising demand from the millennial and baby boomer population, and the growing consumption of all varieties of tea.
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Industry Definition and Major Segments
Bubble tea is variously known as pearl milk tea, bubble milk tea, boba tea, or boba juice and is a popular drink made with the basic ingredient of tea, enriched with chewy tapioca seeds. It can be made in various forms by the inclusion of fruit jellies and syrups.
Based on type, the market can be segmented into:
On the basis of flavour, the industry is segmented into:
The major regions in the market are:
1 North America
1.1 United States of America
2.2 United Kingdom
3 Asia Pacific
4 Latin America
5 Middle East & Africa
5.1 Saudi Arabia
5.2 United Arab Emirates
5.4 South Africa
The market is expected to witness an increase in demand owing to factors, such as the introduction of new flavours in the industry, people seeking healthier and organic products, implementation of sugary beverage taxes, and the product’s health benefits. The bubble tea’s claimed health benefits include improved immune system, heart health, increased energy level, and cancer prevention. Thanks to its antioxidant content, it is also favoured over carbonated beverages.
Key Market Players
The major players in the market are Dama Foods International Co., Ltd, Lollicup USA Inc., Fokus Inc. (NASDAQ: EFOI), Cuppo Tee Company Limited, Sumo’s (M) Sdn Bhd, and Huey-Yuhe Enterprise Co., Ltd., among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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Note 2: As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are constantly tracking the impact of this rapidly evolving situation on the markets and the consumer purchase behaviours. Thus, our latest estimates and analysis about the current market trends and forecast will exhaustively reflect the effects of this emerging pandemic.
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