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. 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 . Ready-to-Drink variants are instead aggregated into the segment Ready-to-Drink (RTD) Tea in the Non-Alcoholic Drinks market. bubble tea popularity statistics singapore; how many bubble tea brands in singapore; Bubble Tea Popularity Statistics Singapore . Bubble Tea Market Outlook (2022-2032) [324 Pages Report] The global bubble tea market is projected to have a rapid-paced CAGR of 8.8% during the forecast period. 15. Bubble milk teas surge in popularity is mainly attributed to taste, affordability, and the rising reinvention of the basic tea recipe. A South Australian Health Omnibus Survey (SAHOS) done in 2014 showed that there was a . Because of its proximity to Taiwan, where bubble tea was created, China quickly became a fan of the sweet beverage. This beverage has undergone a few waves of popularity in Singapore. Availability of Other Caffeinated Drinks to Impede Growth. 12. We are happy to help. 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. In the United States, 95% of women have tried bubble tea as opposed to 81% of men. 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. To understand the global market potential, growth, and scope, the market is segmented based on base ingredients (black tea, green tea, oolong tea, white tea, others), flavor (original, flavored (nut-flavored, chocolate, fruit, honey, mocha, caramel, vanilla, coconut), sugar content (regular, reduced sugar/sugar-free) format (ready-to-drink, instant mixes), toppings (pearl, grass jelly, coconut jelly, red bean, multiple/ others), distribution channel (direct (B2B), indirect (B2C) (hypermarket/ supermarket, convenience store, grocery retailers, wholesale, other store-based retailing), online retailing), and region. They are made from cassava starch, a common ingredient in Brazilian culture, and they take time, effort, and skill to make properly. Who are the leading players in the market? The region is witnessing a cross-cultural food consumption trend, and the growing health and wellness approach is also expected to boost the 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. It's the second most-consumed drink in the world, only behind water. Although the drink was originally created in Taiwan, its signature ingredient is primarily grown in Nigeria, Thailand, Indonesia, and Brazil. (2.Americans rank 25th for coffee consumption per capita, with an average consumption of 4.2 kg per person per year. Unilever (Lipton), Associated British Foods (Twinings) and Tata Global Beverages (Tetley) are globally the most important players by revenue. Besides this, due to its various attributes, such as low-fat and low-calorie content and other several health benefits, such as high antioxidant value, it also boosts the consumption of bubble tea across the domestic and international markets. Versatility in flavor, health benefits, and social media trends drive the market. For instance, in June 2022, Frankly, the first Italian bubble tea chain, witnessed a massive increment of around 148% compared to the previous years via a crowdfunding campaign. Consumption declines with age. Future Market Insights Inc.Christiana Corporate,200 Continental Drive,Suite 401, Newark,Delaware - 19713, USAT: +1-845-579-5705Report: https://www.futuremarketinsights.com/reports/bubble-tea-marketFor Sales Enquiries: sales@futuremarketinsights.comBrowse all Reports: https://www.futuremarketinsights.com/reportsLinkedIn|Twitter|Blogs. Asia-Pacific (APAC) dominates the bubble tea market because of the high consumption of the bubble tea within the region. Future Market Insights Global and Consulting Pvt. Moreover, increase in disposable income and economic growth in advanced & emerging economies support the market growth. Bubble tea shops, or Boba tea as it is frequently called in America, can be found in almost every major city across the country. For people aged 71 or older, the figures were substantially lower, at 1,584 grams and 1,532 grams, respectively. So, if we live in a postcode that is all expats, we would assume a 70% chance of a bubble tea shop being located there. Methods: Self-report questionnaires were used to assess bubble tea consumption and mental status. Various key insights presented in the report are an overview of related markets, competitive landscape, recent industry developments such as mergers & acquisitions, regulatory scenario in critical countries, and key bubble tea industry trends. A. That is approximately four cups of brewed coffee, 10 cans of cola or two "energy shot . In 2018, bubble tea made a 3,000 . The black tea segment is expected to be the leading segment in the global market. 4. Changes in consumers tastes and preferences have fostered growth for the bubble tea market over the forecast period. In the United States, 95% of women have tried bubble tea versus 81% of males. Some specialty shops have menus with smaller sizes and prices as low as $2 to $3 per serving. Australia . The current valuation of the market is US$ 2.50 billion in 2022. The market player positioning segment facilitates benchmarking and provides a clear understanding of the present position of the market players in the industry. 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. 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. Today, bubble tea consumption in China surpasses that of coffee and many other traditional beverages. As more and more consumers become aware of the negative effects of sugar consumption, the sugar-free or reduced sugar segment of bubble tea is expected to gain popularity. 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. Tea is considered the second most popular drink of choice worldwide. Malaysia Coffee & Tea Reports: Our 2023 Malaysia report include trends, statistics, opportunities, sales data, market share, segmentation projections on the Coffee & Tea market. Why buy this report? The other players operating in the global bubble tea market are Bubble Tea Supply Inc., ChaTime, CoCo Fresh, Quickly, Kung Fu Tea, BobaLoca, Happylemon, Share Tea, T Bun International, Fanale Drinks, Grand Chainly, and Huey-Yuhe Enterprise. With bubble teas sudden increase in popularity, it should be no surprise that the industry is only expected to keep growing. According to a recent consumer study, 94% of people between ages 20 and 29 have purchased bubble tea within the last 3 months. 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. However, the sweeteners segment is expected to witness the highest growth, owing to rise in demand for sweet beverages across the globe. 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. The data says that for every additional 1% of expats living in a postcode, we should expect the probability of a bubble tea shop in that postcode to increase by 0.0091 from a baseline of -0.2089. Bubble tea made a rise in popularity in 2018 with a 3000% increase in orders from Southeast Asia. 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. 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. The Mayo Clinic state that up to 400 mg of caffeine a day is probably safe for most healthy adults. After decades of slowly increasing in popularity, the big bubble tea boom happened in 2018. 13. While bubble tea is enjoyed by people of all ages, it tends to be a global favorite among younger people. Bubble tea is a beverage originating from Taiwan comprising tea with fruit syrup or milk added, and then shaken. Among participants, 647 (88%) consumed less . 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. The market is expected to grow annually by 2.61% (CAGR 2023-2025). 5. As a result, other plant-based hot . Reduced sugar/ sugar-free bubble tea will gain traction over the assessment period. Over 90% of the tea consumed is Black Tea, about 5% Green Tea, 1% Oolong Tea and the balance flavored, scented, or mixed teas. This popular sweetened tea is made up of high-quality milk and tapioca pearls, along with fruit powder, creamer, and sweeteners. Over 95% of females in the united states have tried bubble tea, while 81% of males . Tea consumption per capita in the UK is 1.3 kg for 2019. "Market Intelligence that Adds Flavour to Your Success", Region : Global | Format: PDF | Report ID: FBI101564. Studies showed that green tea-based milk tea is proven to be beneficial for lowering blood pressure and the risk of cancer. 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. Countries such as Vietnam and Taiwan are projected to have the largest sales. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years. The size of the global Bubble Tea Market in 2019 was $2,407.6 million. 2. Book your free consultation and let our research experts help you with your needs/problems. Need to talk to an expert? 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. I appreciate the timeliness and responsiveness of you and your team., (applicable to 1 report only for the same license type), The global bubble tea market is projected to grow from $2.29 billion in 2022 to $3.78 billion by 2029, at a CAGR of 7.40% in the forecast period, 2022-2029, 2020 Fortune Business Insights . By component, it is classified into flavor, creamer, sweetener, liquid, tapioca pearls, and others. Bubble teas growing appeal to a younger demographic coupled with its popularity as a nootropic beverage will likely supplement the sales of the tea in the market over the forecast period, says an FMI analyst. The consumption of organic tea rose by 1.06 million gallons in 2018.