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. 5. Over 90% of the tea consumed is Black Tea, about 5% Green Tea, 1% Oolong Tea and the balance flavored, scented, or mixed teas. 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. In addition, aggressive advertisements and celebrity end orsements have also helped the global market to pave its way toward growth. 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. The United States and Australia were both introduced to bubble tea in the mid-1990s, and it has been growing in popularity ever since. Each . 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 2016. Future Market Insights Global and Consulting Pvt. Directly accessible data for 170 industries from 50 countries and over 1 million facts: Get quick analyses with our professional research service. Bubble tea shops, or Boba tea as it is frequently called in America, can be found in almost every major city across the country. 11.2% of Victorian adults consume sugar sweetened beverages daily. According to a recent consumer study, 94% of people between ages 20 and 29 have purchased bubble tea within the last 3 months. Keep reading to discover everything weve uncovered about bubble tea. 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. Download complimentary copy of Future Market Insights White Paper in collaboration with PBFIA, on thePlant Based Marketthat throws light on potential opportunities andinvestments made in the Global plant based market. 297 billion liters of tea were consumed worldwide in 2021. Although people of all ages frequently enjoy bubble teas across the globe, younger people tend to drink them more frequently. European countries are just starting to understand the bubble tea craze, and with new dessert products in the making, the only way for this industry to go is up. Kenya is one of the main global tea exporters and as a result, it is no surprise that Kenyans love their tea, in particular black tea, though in 2022, fruit/herbal tea registered the highest current value growth. 01 The first bubble tea came out in the early 1980s. 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. If youre looking for a sweet, refreshing drink that doesnt compromise on flavor or quality, bubble tea is the answer. Over 95% of females in the united states have tried bubble tea, while 81% of males . The bubble tea industry is enormous and accounts for one of the fastest-growing food markets in the world today. Manufacturers are capitalizing on improving the functionality of boba drinks ingredients to cater to the rising demand from consumers. Request Now ! This was attributed due to rise in the consumption of tea based everages across the world. The out-of-home market, also called on-trade market, away-from-home market or HORECA encompasses all sales to hotels, restaurants, catering, cafs, bars and similar hospitality service establishments. 6. 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. In-depth analysis and the bubble tea market size and segmentation assists in determining the prevailing bubble tea market opportunities. Request a Free sample to learn more about this report. Consumer Shift toward Healthy Alternatives to Favor Growth. Singapore market is forecasted to grow at a CAGR of 10.7%. Global Bubble Tea Market Dynamics, Regional Analysis, Segmentation, Competitive Landscape, COVID-19 Impact, Recent Developments and SWOT Analysis of Key A South Australian Health Omnibus Survey (SAHOS) done in 2014 showed that there was a . Were big enough to handle massive projects, and yet also nimble enough to come up with names on demand that hit every time. Thank you for requesting a call back, our sales representative will get in touch with you shortly! Consumption declines with age. In its latest report, FMI offers an unbiased analysis of the global bubble tea, providing historical data from 2016 to 2020 and forecast statistics for the period 2021-to 2031. In Asia, however, it is equally popular among men and women and is seen as a cultural phenomenon. Theres a lot more to bubble tea than meets the eye, and weve discovered all of the reasons that its a global favorite. Bubble tea is known for its sweet taste. The at-home market, also called off-trade market, covers all retail sales via super- and hypermarkets, convenience stores or similar sales channels. 14. Theory seemed to meet reality . 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. The data offered to us was exactly what we were looking for. 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. Thailand leads in . Save my name and email in this browser for the next time I comment. This can be attributed to the rise in awareness regarding healthy lifestyle and higher adoption of healthy beverages by health-conscious consumers. Bubble Tea originated in Taiwan in the early 1980's at a small tea stand. drinking tea; and the expansion of new products and flavourings, such as ready-to-drink tea, premium tea, and herbal and fruit fusions.15-19 In addition, demand for green tea is expected to outpace demand for black tea.4,12,19 The considerable expansion of sustainable tea products is also worth noting. Followed by black tea, the green tea segment is expected to hold a major percentage of the market share. 04 For a short time in 2012, all 800 branches of McDonalds in Germany sold bubble tea. The black tea segment is expected to be the leading segment in the global market. Remarkable job and great efforts by your research team. Whats your favorite bubble tea base to start with? Looking forward to work together in the future, It has been a delightful experience working with you guys. This segment is expected to grow significantly throughout the forecast period due to its high nutritional value as compared to other flavors, high popularity of tea-based fruity beverages, and high consumer preference. By sugar content, reduced sugar/sugar-free category will gain traction over the forecast period. In addition, the companies are focusing on the growing incidences of lactose intolerance, and thus are working toward introducing lactose-free bubble milk tea options for individuals. 11. Clicking on the following button will update the content below. 10. Cassava flour itself comes from the cassava root, which is native to South America but has become a staple food in many African nations. Bubble tea consumption statistics show that Thais drink six bubble teas per month. In the Philippines alone, orders increased by 3,500 percent from June to December 2018. 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. 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. Aug 24, 2022 03:14pm. Required fields are marked *. 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. Address Shop 14, 375 William Street, Northbridge, Western Australia, WA, Australia 6003 Phone Number 0434039801 Categories Bubble Tea Shop, Tea Room Bubble tea (also known as pearl milk tea, bubble milk tea, boba juice, boba tea, or simply boba) is a Taiwanese tea-based drink invented in Tainan and Taichung in the 1980s. In 2014, over 77% of the tea brewed in the United States was prepared using tea bags. 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. Apart from the variety of flavors available, one of the primary elements fueling the expansion of bubble tea Industry is the health benefits. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); We're Soocial, a leading branding agency with a passion for creating memorable names and internationally-renowned brands. Moreover, the availability of suitable alternatives, such as unsweetened tea, coconut water, fruit-infused teas, and others, offering similar benefits, hamper the global market growth. Ready to drink tea products have seen a 15x increase in sales and consumption since 2004. The bright colors and availability of sweet and fruity flavors especially appeal to children . These latest product ranges further act as a marketing strategy to attract a vast consumer base worldwide. 3. 1. By component, it is classified into flavor, creamer, sweetener, liquid, tapioca pearls, and others. Brands, such as Koi The Co, Moge Tee, and M.A.D. Graph. The market for Hot Drinks is structured into retail sales for at home consumption and on-premise or foodservice sales for out-of-home consumption. Bubble tea can be found on every continent today, except for Antarctica, of course! 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. At what CAGR is the bubble tea market projected to grow in the forecast period (2022-2029)? Consumption of black tea is highly promoted due to its strong antioxidant, anti-aging, and anti-diabetic properties. Market size and forecast, by Base Ingredient, 2020-2028 7.3.9.2. 4. 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. Tea consumption per capita in the UK is 1.3 kg for 2019. Asia Pacific Bubble Tea Market Size, 2021 (USD Billion), To get more information on the regional analysis of this market, Request a Free sample. Revenue in the Tea segment amounts to US$1.40bn in 2023. The bubble tea industry was valued at $2.2 billion in 2019. Teenagers and people in their 20s consistently account for the highest consumer percentage of bubble teas. 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. 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, Troika JC. In addition, the growing gastronomic tourism, rising number of health-conscious individuals, and increased social media influences further paved the way toward growing potential. 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. If you love bubble tea and are looking for a make your own bubble tea kit, this is the place! Australia: 0.75 kg (1.65 lb) 17 A. Of the 30 countries that enjoy bubble tea, most are in Asia. A. During the late 1980s and into the 1990s, bubble tea was only consumed in a select few countries including Taiwan, Hong Kong, China, and Japan. 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). Bubble tea can be found in over 30 countries. Other players operating in the market are Boba Box Limited, Fokus Inc., Sumos Sdn Bhd, Troika J.C. (Qbubble), and Boba Tea Company. Need to talk to an expert? 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. The research report includes quantitative and qualitative insights into the market. Green tea has shown long-term energy inducing properties and has a positive effect on the regulation of body weight. Some specialty shops have menus with smaller sizes and prices as low as $2 to $3 per serving. Tapioca pearls are made from cassava flour, of which Nigeria is the worlds largest exporter (21%). The two most popular varieties are bubble milk tea with tapioca and bubble milk green tea with tapioca. Black tea is the most consumed tea around the world. Cook for about 20 minutes. In 2019, tea revenue globally is about US$214,761m and is expected to grow each year by 6.9% until 2023. Green tea. Ice-blended versions are usually mixed with fruit or syrup, resulting in a slushy consistency. 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. 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. 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. The major countries in each region are mapped according to their revenue contribution to the global bubble tea market. Health Benefits Associated with Bubble Tea Consumption to Drive the Market Growth . In relation to total population figures, per person revenues of US$53.14 are generated in 2023. The boba tea trend continued to soar in its originating region and later spread its attractiveness in other western countries, such as Canada and the U.K., and is now considered a mainstay due to its unique formulation. By region, North America was the most prominent regional market in 2019. Pearl Lemon Boba Unit 4 Building, 250 North End Rd, London SW6 1NJ, United Kingdom. Reduced sugar/ sugar-free bubble tea will gain traction over the assessment period. December 17, 2022. Adults' total beverage consumption drops steadily with age. Ltd. https://www.futuremarketinsights.com/reports/sample/rep-gb-12310, https://www.futuremarketinsights.com/customization-available/rep-gb-12310, https://www.futuremarketinsights.com/checkout/12310, https://www.futuremarketinsights.com/ask-question/rep-gb-12310, https://www.futuremarketinsights.com/reports/bubble-tea-market, https://www.futuremarketinsights.com/reports, Ready to Drink Shakes Market Outlook (2022-2032). Asia-Pacific (APAC) dominates the bubble tea market because of the high consumption of the bubble tea within the region. Contact Sales for Further Assistance in Purchasing this Report @ https://www.futuremarketinsights.com/checkout/12310. 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. 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. Interesting Facts. Today, bubble tea consumption in China surpasses that of coffee and many other traditional beverages. Among various flavors, fruit flavor is more popular, and this segment dominated the market in 2019. Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. The best of the best: the portal for top lists & rankings: Strategy and business building for the data-driven economy: The Hot Drinks market segment, Tea, consists of black tea, green tea and mate sold in tea bags or as loose-leaf tea. In 2019, the black tea segment accounted for more than half of the share in the total bubble tea market and is expected to grow at a CAGR of 7.50% throughout the forecast period. Based on the distribution channel, online retailing is expected to exhibit a CAGR of 11.9%. How much is the global bubble tea market worth? This is for a full-sugar serving that contains 60 g of sugar. Thailand leads in bubble tea consumption at an average of 6 cups per person per day. This is a list of countries ordered by annual per capita consumption of tea, as of 2016. 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. Bubble tea made a rise in popularity in 2018 with a 3000% increase in orders from Southeast Asia. 11. Almost overnight bubble tea shops popped up around the world in multiple countries that had never had an interest in it before. All Rights Reserved. An average, medium-sized serving of bubble tea has, on average, 335 calories. For those looking to cut back on sugar, bubble tea may not be the best choice. 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 . 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 price per unit in the out-of-home market always references the total price over the amount of tea consumed, regardless of the other components of the finished beverage. Get in touch with us. 10. Since our launch, weve worked on more than 1,000 projects for clients around the world. Introduced to China in the early 1990s, it quickly became one of the most popular drinks in the nation. 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