Teenagers and people in their 20s consistently account for the highest consumer percentage of bubble teas. Asia-Pacific (APAC) dominates the bubble tea market because of the high consumption of the bubble tea within the region. 4364..55.011 - Australian Health Survey: Consumption of added sugars, 2011-12. Bubble tea . a more convenient consumption option, compared with hot cereals, which can require the addition of boiling water or milk. Pune, India, Oct. 26, 2021 (GLOBE NEWSWIRE) -- The global bubble tea market size is expected to reach USD 3.39 billion by 2027 . Rising Raw Material and Transportation Cost Due to the Pandemic to Slow Down the Market Growth. Alcoholic Tea Market size is valued at USD 1,958.73 billion by 2028 and is expected to grow at a compound annual rate of 7.00% in the forecast period . Thank you Fortune Business Insights for your efforts and prompt response, I had a great experience working with Fortune Business Insights. This is a list of countries ordered by annual per capita consumption of tea, as of 2016. October 26, 2021 13:00 ET | Source: Fortune Business Insights. Gong Cha, Kung Fu Tea, Lollicup USA, Tiger Sugar, Sharetea, Boba Guys, Tapioca Express, Cha Time, Ten Rens Tea Time, YiFang Bubble Tea, CoCo Fresh Tea & Juice, DaBoba, Happy Lemon, Quickly, Cojiitii, and others are some of the manufacturers of bubble tea profiled in the full version of the report. Its not just the sugar that gives these drinks their sweetness, though; many restaurants also add sweeteners to them. Required fields are marked *. 15. Businesses that sell bubble tea (including those that serve other drinks, such as coffee and smoothies) face a lot of competition since there are many places where customers can find the same drink. Art & Craft. Whether youre feeling something sweet, fruity, and refreshing, something soothing and tea-like, or a slushy smoothie like-drink, bubble tea has you covered. 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. If you have an adventurous palette, we highly recommend trying as many different flavors as you can to find the one that will be your favorite! Although there are plenty of bubble tea flavors to choose from, fruit teas tend to be the most popular. The forecast period in the global bubble tea market report is 2019-2027. With 250 different flavors, it makes sense that there would be different bases to the teas. It comes with the additional cost of $2500.00 contact sales. Now, there are bubble tea shops everywhere, and many companies have started to offer other bubble tea treats in the form of desserts to expand the marketplace. 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. The 30 Tea Drinkers vs. Coffee Drinkers Statistics. In addition, the growing gastronomic tourism, rising number of health-conscious individuals, and increased social media influences further paved the way toward growing potential. It slowly spread throughout Asia before gaining popularity in the U.S. and across the globe. 3. For instance, the base ingredients required for the preparation of black or green tea are exported from India, but due to the imposed regulations, companies were unable to process the demands of the manufacturers. The segment will depict a robust 11.8% CAGR and account for more than 26% of the market share. Statista. The availability of different types of milk tea offers numerous options for consumers to enjoy. Looking forward to work together on similar projects, We appreciate the teamwork and efficiency for such an exhaustive and comprehensive report. 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. Modern Asian Desserts, expanded its business in the country by introducing various boba milk tea outlets. If theres one thing you can count on, its that bubble tea is going to be more popular among women than men. 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. South America is anticipated to grow in terms of sales volume of the products in the coming years. Market size and forecast, by Base Ingredient, 2020-2028 7.3.9.2. 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. This is a very good piece of work and will be very helpful to us going forward. 1.In 2019, 64% of Americans aged 18 and over drank coffee every day. It looks like the bubble tea craze isn't going anywhere soonat least, according to GrabFood data that states bubble tea orders in Southeast Asia saw a 3,000 percent growth rate in 2018. Bubble tea consumption statistics show that Thais drink six bubble teas per month. For instance, in September 2020, Chen Shucheng started a new bubble milk tea franchise in Singapore called Meme Xpress. 02 Each tapioca ball has 5 to 14 calories. 1. 297 billion liters of tea were consumed worldwide in 2021. Bubble tea has a sweet, sour, and tangy taste that varies depending on the type of fruit used. Keep reading to discover everything weve uncovered about bubble tea. On the contrary, introduction of various new flavors and blends and high demand among young population for a variety of teas are expected to provide lucrative opportunities for the market expansion.The bubble tea market has been segmented on the basis of on base ingredient, flavors, component, and region. 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. Who are the leading players in the market? 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. The Tea segment in Australia is projected to grow by 2.61% (2023-2025) resulting in a market volume of US$1.47bn in 2025. . That means 24 countries have higher consumption rates that are worth targeting. Global Demand for Coffee - Despite the demand for coffee in the United States, the country only ranks 25th in per capita coffee consumption. 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. 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. For instance, in September 2021, Dubai witnessed the opening of various new tea outlets serving bubble tea across the country. Find the most up-to-date statistics and facts on the tea market in Canada. Nevertheless, manufacturers are trying to introduce new beverage options, such as bubble milk tea, in the market. These latest product ranges further act as a marketing strategy to attract a vast consumer base worldwide. The campaign will be extended due to the tremendous profit achieved, which motivates the company to broaden its product offerings and brand position. Key players in the global bubble tea market are focusing on releasing novel and unique flavors of bubble tea. We know where we will be getting business intelligence from in the future., Thank you for sending the market report and data. 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. 7.1% consumed diet drinks daily. The Mayo Clinic state that up to 400 mg of caffeine a day is probably safe for most healthy adults. The major countries in each region are mapped according to their revenue contribution to the global bubble tea market. It looks quite comprehensive and the data is exactly what I was looking for. 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. The option to customize your bubble tea, availability at most cafes, restaurants, convenience, and grocery stores as well as the variety offered has contributed to the market growth. Need to talk to an expert? What are the key factors driving the market? Bubble tea truly is an international drink! Companies in the Industry are Aggressively Expanding their Franchisees to Cater to the Growing Demand. All rights reserved. 6. Of the 30 countries that enjoy bubble tea, most are in Asia. A. Bubble tea brands expected to produce novel and unique products over the forecast period. This is for a full-sugar serving that contains 60 g of sugar. Bubble tea typically sells for about $3 to $5 for a 16- to 20-ounce serving. 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. In relation to total population figures, per person revenues of US$53.14 are generated in 2023. The percentage of tea that is consumed which is green tea: 15%. (2.Americans rank 25th for coffee consumption per capita, with an average consumption of 4.2 kg per person per year. Cook for about 20 minutes. (World Atlas)3.The USA ranks 11th among the countries with the highest caffeine consumption, with a rate of 200 mg per person per day. When we say that bubble tea is insanely popular, were not joking. All Rights Reserved. Followed by black tea, the green tea segment is expected to hold a major percentage of the market share. 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 . Overview and forecasts on trending topics, Industry and market insights and forecasts, Key figures and rankings about companies and products, Consumer and brand insights and preferences in various industries, Detailed information about political and social topics, All key figures about countries and regions, Market forecast and expert KPIs for 600+ segments in 150+ countries, Insights on consumer attitudes and behavior worldwide, Business information on 60m+ public and private companies, Detailed information for 35,000+ online stores and marketplaces. Tea consumption per capita in the UK is 1.3 kg for 2019. The manufacturers or entrepreneurs in the boba tea industry are venturing upon the launch of their own restaurants/cafes to attract consumers and fortify their market presence. Accelerated demand for healthier beverage alternatives to carbonated drinks coupled with shifts in consumer preferences is fueling market growth for bubble tea. Pearl Lemon Boba Unit 4 Building, 250 North End Rd, London SW6 1NJ, United Kingdom. With shops all around the world in many major cities, its easy to indulge your bubble tea craving when you want to! The region is witnessing a cross-cultural food consumption trend, and the growing health and wellness approach is also expected to boost the growth. Bubble tea is known for its sweet taste. 7.3.9.1. The market for Tea segment is expected to show a volume growth of 1.6% in 2024. Bubble tea is a drink made from tea (usually black tea), milk, syrup, and a special ingredient that captivates the hearts of Chinese people: tapioca pearls. Thank you for requesting a call back, our sales representative will get in touch with you shortly! Future Market Insights Global and Consulting Pvt. Per Capita Global Tea Consumption Patterns Americans consume more than 50 billion servings of tea a year, nearly 85% of which is iced. We are happy to help. I hope you learned something from it, even if it was that you should lay off the bubble tea because really, you probably have had enough of that stuff by now. 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. 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. Insights. July 26, 2022 10:30 ET Theory seemed to meet reality . The ICC World Test Championship final will be played in The Oval, London from June 7 to 11, where the conditions are pacer-friendly. Because of its proximity to Taiwan, where bubble tea was created, China quickly became a fan of the sweet beverage. Followed by Asia Pacific, the North America bubble tea market share emerged to be the second-largest and is likely to maintain its position throughout the forecast period. Ask for Customization @ https://www.futuremarketinsights.com/customization-available/rep-gb-12310. Today, millennials, zennials, and gen z account for the vast majority of the countrys bubble tea consumption. This was attributed to rise in the fitness conscious people across the globe. Due to widespread popularity and prevailing trends as well as the presence of many bubble tea manufacturers in this region, the bubble tea market in China is expected to continue to flourish over the forecast period. The market is anticipated to be valued at US$ 46.0 Mn in 2032. The incredible success of bubble tea in China since 1996. 17 Aug 2022 12:37PM (Updated: 17 Aug 2022 06:16PM) SINGAPORE: Bubble tea lovers in Southeast Asia spend US$3.66 billion a year on the beverage and similar "new tea" drinks, with Singapore . Coffee and tea are the most consumed as well as socially accepted nootropic beverages across the world, and many consumers are highly dependent on such caffeinated drinks before starting their day. Australia . As per the latest report by FMI, the U.S. bubble tea market is expected to register a 12.4% CAGR during the forecast period. The bubble tea industry is enormous and accounts for one of the fastest-growing food markets in the world today. These drinks are made with milk tea and tapioca pearls (to make the bubbles), which contain a lot of natural sugar. Toss in the pearl tapioca. The value of its market is estimated to be $5.2 billion. China is one of the prominent regions in the market that accounted for a sizeable share of the total market in 2019. Most other Southeastern Asian countries drink three cups monthly on average. At what CAGR is the bubble tea market projected to grow in the forecast period (2022-2029)? Bubble teas distinct flavor, easy product availability, and numerous varieties offered will help the market to flourish. 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. Bubble tea has a milk base and includes ingredients like chewy tapioca balls, or fruit jelly and boba. Companies covered in bubble tea market report are ChaTime, Bubble Tea Supply Inc., Gong Cha, CoCo Fresh, Quickly, Kung Fu Tea, Tiger Sugar Korea, Boba Loca, Happylemon, Lollicup USA, Inc . However, since the ease of lockdowns, governments have proposed several initiatives and strategies to help the companies in recovering the losses across the globe. Whats your favorite bubble tea base to start with? Ready-to-Drink variants are instead aggregated into the segment Ready-to-Drink (RTD) Tea in the Non-Alcoholic Drinks market. In the Philippines alone, orders increased by 3,500 percent from June to December 2018.
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