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Bubble Tea Market size is estimated to reach $3.42 Bn by 2025 and is poised to grow at a CAGR of 7.87% during the forecast period 2020-2025. Bubble tea brewing includes ingredients like chewable tapioca balls along with the familiar basics of regular tea. Depending on the tapioca balls used, the tea offers different flavors like taro, lychee, aphids, passion fruit, mango, peach, peach, coffee, strawberry, chocolate and chocolate. The most popular flavors in the global bubble tea market are the chocolate flavor, original bubble tea flavor, and fruit flavor bubble tea. Rising consumption of tea and coffee as nootropic beverages among students and working-class residents is a major factor in the market’s growth. Moreover, the fat-free contents and the lower calories of these drinks drive the demand further. The increasing popularity of different types of hot drinks is also likely to increase the demand for bubble tea, thus further increasing the market growth.
Bubble Tea Market Segment Analysis – By Type
The global Bubble Tea Market based on Type, can be further segmented into Black Tea, Green Tea, Oolong Tea, and White Tea. Black Tea segment registered for the highest revenue in 2019 and is estimated to grow at highest CAGR over the forecast years 2020-2025. This is owing to increasing preference by health-conscious consumer across the globe. Consumers are shifting towards organic and natural products, which is a key factor to drive this segment. However, green tea segment is set to grow with a fastest CAGR during the forecast period 2020-2025. This is owing to its long term energy inducing properties, which has a positive effect on the regulation of the body weight.
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Bubble Tea Market Segment Analysis – By Flavor
The global Bubble Tea Market based on Mode of Application, can be further segmented into Original, Chocolate, Coffee, Fruit, and others. The Fruit flavor segment registered for highest revenue in 2019 and projected to grow at the highest CAGR during the forecast period 2020-2025 owing to the its high nutritional values, high consumer preference and the availability of various fruit flavors which includes mango, lychee, peach, passion fruit, strawberry, plum, banana, grape, avocado, lemon, kiwi, and others.
Bubble Tea Market Segment Analysis – By Geography
The global Bubble Tea Market based on Geography, can be further segmented into North America, Asia-Pacific, Europe, and Rest of World. Asia-Pacific registered for the highest revenue in 2019 and is set to grow at highest CAGR over the forecast period 2020-2025 owing to the increasing demand for bubble tea in the region mostly among the young generation and rising urbanization in the region. However, North America is estimated to outpace all the regions by clocking the highest CAGR during the forecast period 2020-2025 owing to the growing popularity of tea-based fruity beverages in the region. Moreover, the consumers are shifting towards no and low-alcoholic beverages, which has further contributed to the growth of the market in the region.
Bubble Tea Market Drivers
Increase in health concerns
The global Bubble Tea market is driven by the changing lifestyles, increasing health concerns among individuals, along with the various health benefits of bubble tea are among the major factors driving the growth of the global bubble tea market. In addition, the growing attraction of flavored beverages among children and adults, and increased product innovation by manufacturers to attract customers and broaden their customer base, are estimated to support the growth of the global bubble tea market over the forecast years 2020-2025.
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Bubble Tea Market Challenges
Availability of alternatives
The addition of artificial Color and preservatives and the presence of an excessive amount of sugar is a major factor that is set to limit the growth of the global bubble tea market. Additionally, the availability of alternatives such as coffee and the increasing trend of coffee consumption is another factor that is estimated to challenge the growth of the global bubble tea market during the forecast period 2020-2025.
Bubble Tea Market Industry outlook:
Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in the Bubble Tea Market. Key companies of this market ChaTime, Tiger Sugar Korea, Bubble Tea Supply Inc, Kung Fu Tea, Boba Loca, Happylemon, Lollicup USA, Inc, ShareTea, Gong Cha, CoCo Fresh, and T Bun International.
In April 2020, Bubble Tea Supply Inc announced the launch of bubble tea in its Bubble Tea Club of different flavors such as classic milk, mango, green apple, lychee, Thai tea, and Fruity flavor with honeydew, along with 14 different toppings flavors.
In June 2019, Secret Recipe announced its launch of series of bubble tea consisting of different flavors. The flavors include Boba milk tea, Boba signature fruit tea, Boba brown sugar with milk, and Boba midnight blue, and others.
Geographically, the Asia-Pacific area is poised to see extraordinary development owing to the increasing demand for bubble tea, and rising urbanization in the region and is set to continue during forecast period 2020-2025.
The global demand for the Bubble Tea Market is changing lifestyles, increasing health concerns among individuals around the globe.
The availability of alternatives such as coffee and the increasing trend of coffee consumption are the factors estimated to restrain the market growth during the forecast period 2020-2025.
Detailed analysis on the Strength, Weakness and Opportunities of the prominent players operating in the market will be provided in the Bubble Tea Market report.
Related Reports :
A. Green Tea Market
B. Tea Polyphenols Market
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