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. The market is projected to grow from USD 2.29 billion in 2022 to USD 3.78 billion by 2029, exhibiting a CAGR of 7.40% during the forecast period. China is one of the prominent regions in the market that accounted for a sizeable share of the total market in 2019. At what CAGR is the bubble tea market projected to grow in the forecast period (2022-2029)? Background: Bubble tea has become enormously popular in China in recent years. Bubble tea is also known as pearl milk tea. Statista. Consumption declines with age. Lycopene Food Colors Market Growth: The overall demand for lycopene food colors is slated to grow at a prolific CAGR of 10.7% during the forecast 2022-2032, totaling US$ 257 Mn by 2032. Methods: Self-report questionnaires were used to assess bubble tea consumption and mental status. 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. Bubble teas distinct flavor, easy product availability, and numerous varieties offered will help the market to flourish. Remarkable job and great efforts by your research team. 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 price for bubble tea depends on where you get it. A. I would also like to thank the back end team for offering a continuous support and stitching together a report that is so comprehensive and exhaustive, Please pass on our sincere thanks to the whole team at Fortune Business Insights. By 2025, 70% of spending and 10% of volume consumption in the Tea . PDF Demographic Summary - TeaUSA BUBBLE TEA CRAZE in Southeast Asia - mise en place Why buy this report? 1 2 3 8. These organizations are focusing on product innovation and targeting the millennial consumer as the group is known for its willingness to experiment with new flavors. Bubble tea can be found on every continent today, except for Antarctica, of course! Due to social media, bloggers documenting their bubble tea experience, and other factors, bubble tea stores continue to flourish and expand their offerings in this region. Future Market Insights Global and Consulting Pvt. The incredible success of bubble tea in China since 1996. The report covered all the points and was very detailed. 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. Apart from the U.S. and Asian countries, the trend of milk tea is also extensively growing amongst individuals residing in the Middle East and Africa. According to the report, bubble tea orders had increased at a whopping 3,000 percent in 2018. Sometimes they are blended with ice to give them a more slushy-like consistency. Ltd. NEWARK, Del, July 26, 2022 (GLOBE NEWSWIRE) -- The global bubble tea market is projected to reach a value of US$ 5.5 Bn by 2031, with sales growing at a robust CAGR of 8.8% for the forecast period of 2021-2031. Pearls or boba color varies depending on the additives added to the tapioca and this segment is one of the most trending bubble tea across the world. Moreover, as per researches conducted by different reputed organizations, tea is proven to prevent different type of cancers, lower cholesterol, help boost immunity, facilitate weight loss, and prevent neurological diseases.This indicates that the health benefits associated with bubble tea are anticipated to drive the overall market. With bubble teas sudden increase in popularity, it should be no surprise that the industry is only expected to keep growing. 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. 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. Based on the distribution channel, online retailing is expected to exhibit a CAGR of 11.9%. 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. 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. Cook for about 20 minutes. Mineral Premix Market Demand: The global mineral premixes market is expected to reach US$ 761.1 Mn by 2022, accelerating at a CAGR of 8.6% during the forecast period (2022-2032). Availability of a Wide Range of Products for Enticing Younger Generation to Boost Growth. Against this backdrop, the market valuation is projected to reach US$ 245 Mn by 2032. Beware the Bubble Tea: Examining the Dangers of Bubble Tea Consumption That means 24 countries have higher consumption rates that are worth targeting. As per the report, sales will increase at a 4.2% CAGR over the forecast period, reaching US$ 354.6 Mn by 2032. The global market for organic tea is showcasing strong growth principally because of the growing knowledge regarding safer counterparts of organic products among consumers. Theres a lot more to bubble tea than meets the eye, and weve discovered all of the reasons that its a global favorite. Australia: 0.75 kg (1.65 lb) 17 Chocolate flavored milk tea is tremendously popular in which chocolate powder is blended with milk to strengthen its flavor. Thank you Fortune Business Insights for your efforts and prompt response, I had a great experience working with 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. All rights reserved. 01 The first bubble tea came out in the early 1980s. Based on our analysis, the global market exhibited a slower growth of 2.76% in 2020 as compared to 2019. Nigeria, specifically, has become a hub for cassava production. Industrial Alcohol Market Volume: The global industrial alcohol market size is set to be valued at US$ 110.3 Bn in 2022 and it is expected to grow at a CAGR of 7.6% from 2022 to 2032. It comes with the additional cost of $2500.00 contact sales. . Young people between ages 20 and 29 are interested in bubble tea. Companies in the Industry are Aggressively Expanding their Franchisees to Cater to the Growing Demand. What may surprise you though is the amount of sugar! Although the drink was originally created in Taiwan, its signature ingredient is primarily grown in Nigeria, Thailand, Indonesia, and Brazil. Bubble Tea Market Analysis, Growth & Forecast 2027 - Yahoo! Green tea has shown long-term energy inducing properties and has a positive effect on the regulation of body weight. Bubble tea got its name from the tapioca balls because when theyre added to the drink and shaken, the balls expand and pop, creating a popping soundor bubbling.. Furthermore, the shift of millennials toward such products owing to their demand for superior quality tea varieties with unique flavor offerings has aided in the growth. Black tea is the most consumed tea around the world. Looking forward to work together on similar projects, We appreciate the teamwork and efficiency for such an exhaustive and comprehensive report. This has led to transportation delays and the functioning of both supplies (tea estates) and demand for consumption points to a standstill due to shortage of manpower and reduced visits of customers to coffee shops amidst the lockdown. 11.2% of Victorian adults consume sugar sweetened beverages daily. 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. Pour tea, milk, and 4 teaspoons sugar into a cocktail shaker. As of December 2018, GrabFood's bubble tea network encompasses over 1,500 brands with 4,000 outlets throughout . An average, medium-sized serving of bubble tea has, on average, 335 calories. Essential Facts. 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. 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. Bubble tea typically sells for about $3 to $5 for a 16- to 20-ounce serving. Tea market in Canada - statistics & facts | Statista One concession owner became popular with her . Of the 30 countries that enjoy bubble tea, most are in Asia. 14. bubble tea popularity statistics singapore; how many bubble tea brands in singapore; Bubble Tea Popularity Statistics Singapore . Unilever (Lipton), Associated British Foods (Twinings) and Tata Global Beverages (Tetley) are globally the most important players by revenue. For those looking to cut back on sugar, bubble tea may not be the best choice. "Market Intelligence that Adds Flavour to Your Success", Region : Global | Format: PDF | Report ID: FBI101564. Thailand leads in bubble tea consumption at an average of 6 cups per person per day. Bubble tea shops, or Boba tea as it is frequently called in America, can be found in almost every major city across the country. 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. Increasing Inclination of Consumers toward Versatile Teas with Innovative Bold Flavors is a Prominent Trend. . It also offers a detailed analysis of the market size and growth rate for all possible market segments. A South Australian Health Omnibus Survey (SAHOS) done in 2014 showed that there was a . 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. info@pearllemongroup.com. FB : Beverages| Pages: 261 | Author(s) : Vaibhav S , Roshan D, Single User License, Five User License & Enterprise User License. Porters five forces analysis highlights the potency of the buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplierbuyer network. However, Europeis expected to grow with the highest CAGR throughout the forecast period, owing toaggressive advertising and celebrity brand endorsement and increasein the awareness of bubble tea in theregion. By sugar content, reduced sugar/sugar-free category will gain traction over the forecast period. South America is anticipated to grow in terms of sales volume of the products in the coming years. Countries in North America are gradually increasing the consumption of this tea owing to the growing popularity of tea-based drinks. This growth is fueled by the perceived health benefits of green tea. Such initiatives further support the immense growth opportunities for the companies. SOURCES OF FREE SUGARS - Australian Bureau of Statistics More Insights into the Bubble Tea Market Report. Consumer Shift toward Healthy Alternatives to Favor Growth. 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 . But did you know that there are six different types of bubble tea? About 200 million pounds of tea leaves (bagged & loose) are shipped into the United 1.In 2019, 64% of Americans aged 18 and over drank coffee every day. The outbreak of COVID-19 forced government bodies to impose strict closure of restaurants, farms, and factories to maintain safety measures and implement social distancing. The at-home market, also called off-trade market, covers all retail sales via super- and hypermarkets, convenience stores or similar sales channels. 12. Chewy tapioca balls or different flavored jellies are then added to give bubble tea the fun, chewy texture that it is known for! Fruit-flavored bubble teas account for the largest percentage of bubble tea consumed at 37%. Tea in Australia - Wikipedia By flavor, the market is classified into coffee, fruit, chocolate, original, and others. 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 bubble tea industry is enormous and accounts for one of the fastest-growing food markets in the world today. 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. Bubble tea consumption and its association with mental - ScienceDirect 10. Although people of all ages frequently enjoy bubble teas across the globe, younger people tend to drink them more frequently. In-depth analysis and the bubble tea market size and segmentation assists in determining the prevailing bubble tea market opportunities. 87% of American millennials drink tea, including bubble tea. Tea industry statistics, analysis, market share, market reports Girls and women are the primary demographic among bubble tea drinkers, with 95% having tried it. 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. 16 Bubble Tea Statistics to Calm Your Cravings - Soocial The bright colors and availability of sweet and fruity flavors especially appeal to children . By region, North America was the most prominent regional market in 2019. Teenagers and people in their 20s consistently account for the highest consumer percentage of bubble teas. It also revealed that the global bubble tea market size was valued at US$2.02 billion in 2019, and is expected to reach US$3.39 billion by 2027. (Caffeine Informer) For instance, in September 2021, Dubai witnessed the opening of various new tea outlets serving bubble tea across the country. 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. Global Demand for Coffee - Despite the demand for coffee in the United States, the country only ranks 25th in per capita coffee consumption. Save my name and email in this browser for the next time I comment. Data at LGA level is also presented. 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.
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