The global bubble tea market size was worth around $3.12 Billion in 2021 and is predicted to grow to around $7.82 Billion by 2030 at a CAGR rate of 9.01% over the forecast period.
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➤ The market is experiencing growth due to the increasing availability and prevalence of a diverse selection of beverages that appeal to millennials.
The expanding market is being drawn in by the increasing popularity of bubble tea. The global bubble tea market is indirectly stimulated by the continuous increase in health consciousness among individuals, which leads to their consumption of healthy beverages such as white tea, black tea, and green tea. Additionally, the demand for aromatic bubble tea appears to have increased as a result of the increase in consumption among the younger generation. In addition to this, the market is experiencing an excessive growth due to the commercial endorsements and advertisements that are promoting the beverage.
➤ The global market’s development is hindered by the widespread availability of caffeinated beverages and the excessive sugar content.
Diabetes and obesity are caused by the sugar content of these beverages. This factor significantly impedes the expansion of the bubble tea industry. The presence of preservatives in bubble tea also causes individuals to shift their predilection toward organic beverages, which indirectly has a negative impact on the market. In addition, the global bubble tea market is constrained by the widespread availability and prevalence of coffee, as well as its increased consumption, in comparison to any other beverage.
➤ The global market is presented with greater opportunities due to the recent emergence of a variety of new flavors and the growing demand for bubble tea among millennials.
A variety of new flavors and blend variants have been recently introduced, which has resulted in a significant increase in demand among the younger generation. This factor offers lucrative prospects for the global bubble tea market’s expansion. Lactose-intolerant individuals have also been drawn to alternative options, including black, green, and white tea. The availability of a variety of options will attract more attention, thereby creating an opportunity for market growth.
➤ A significant increase in demand has resulted in a significant increase in production, which presents a challenge to the market.
As a result of the growing demand for tea in Western countries and among the youthful working population worldwide, tea production has increased. This results in an increase in production and product sales. A significant obstacle for the global bubble tea market will be the availability of infrastructure, equipment, and basic components required for this extensive production to meet the increasing demand of the populace.
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The Global Bubble Tea Market is segmented based on product, application and region
Global Bubble Tea Market: Product Segment Analysis
● Black Tea
● Green Tea
● Oolong Tea
● White Tea
Global Bubble Tea Market: Application Segment Analysis
● Sweetener
● Liquid
● Flavor
● Creamer
● Tapioca Pearls
● Others
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The global Bubble Tea market profiles key players such as:
● Bobabox Limited
● Bubble Tea House Company
● Cuppotee
● Fokus Inc
● Gong Cha
● Sumo’s Sdn Bhd
● Troika JC
● Fokus Inc.
● Coco Fresh
● T Bun International
● Grand Chainly
● Share Tea
● Fanale Drinks
● Ten Ren’s Tea Time
???? Recent Developments:
• BUBLUV, Inc., a New York-based company that is known for its innovative approach, introduced its inaugural ready-to-drink beverage, BUBLUV Bubble Tea, in April 2022. It is a light, sweet beverage that is revitalizing. The container is devoid of artificial ingredients and added sugar, and it contains fewer than 50 calories. In addition, BUBLUV Bubble Tea is keto-friendly and gluten-free.
• BobaBam, a beverage company headquartered in Los Angeles, announced the introduction of two new flavors in January 2023: Taro and Milk Tea. The company is introducing these variety bundles at over 200 locations throughout the Northeast and West Coast. Each package of their pristine varieties is non-GMO, vegan, nut-free, and gluten-free.
➤ The North American region accounted for the highest market share in 2021 and is anticipated to continue expanding at a rapid pace.
North America is the world’s largest consumer of bubble tea, owing to its therapeutic properties and health benefits, which include the prevention of cardiovascular diseases, malignancies, and reduced cholesterol. The market in this region is poised for significant growth as a result of the growing health consciousness of the populace. The bubble tea market in the Asia Pacific region is also expanding rapidly as a result of the growing popularity and leverage of bubble tea in this region. Greater development in this region is facilitated by the high disposable income and the wide variety of flavors.
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