Bubble Tea Market: Global Opportunity Analysis and Industry Forecast, 2019–2027
The bubble tea market is expected to grow at a CAGR of 7.80 percent, from $2.4 billion in 2019 to $4.3 billion in 2027. Black tea accounted for more than half of the overall bubble tea market share in 2019 and is predicted to increase at a CAGR of 7.50 percent over the forecast period.
Bubble tea (also known as pearl milk tea, bubble milk tea, boba juice, boba tea, or simply boba) is a Taiwanese tea-based drink that was created in the 1980s in Tainan and Taichung. Most bubble tea recipes include a tea base with fruit or milk, as well as chewy tapioca balls (also known as bubbles, pearls, or boba) and fruit jelly.
Ice-blended variants are frequently flavoured with fruit or syrup and have a slushy texture. The drink comes in a variety of flavours and has a wide range of components. Bubble milk tea with tapioca and bubble milk green tea with tapioca are the two most popular types. Bubble tea has been widely adopted in developed countries such as the United States, Canada, and Germany, while rising countries like as China, Brazil, and India are swiftly catching up.
Due to its growing popularity, bubble tea has been gaining traction in new markets.
Furthermore, rising consumer awareness of health benefits and adoption of healthy beverages such as green tea, black tea, oolong tea, and white tea are driving market expansion.
Intense advertising and celebrity endorsements have aided the global market's rise. However, the high sugar content of these drinks, which can cause health problems, and the rising popularity of coffee are projected to limit market expansion. Furthermore, customers are shifting their preferences toward organic beverages as a result of the presence of artificial preservatives in bubble tea, hampereding the global bubble tea market's growth. On the other hand, the introduction of numerous new flavours and blends, as well as a strong demand for a range of teas among the young population, are likely to give lucrative chances for market expansion.
Ice-blended variants are frequently flavoured with fruit or syrup and have a slushy texture. The drink comes in a variety of flavours and has a wide range of components. Bubble milk tea with tapioca and bubble milk green tea with tapioca are the two most popular types. Bubble tea has been widely adopted in developed countries such as the United States, Canada, and Germany, while rising countries like as China, Brazil, and India are swiftly catching up.
Due to its growing popularity, bubble tea has been gaining traction in new markets.
Furthermore, rising consumer awareness of health benefits and adoption of healthy beverages such as green tea, black tea, oolong tea, and white tea are driving market expansion.
Intense advertising and celebrity endorsements have aided the global market's rise. However, the high sugar content of these drinks, which can cause health problems, and the rising popularity of coffee are projected to limit market expansion. Furthermore, customers are shifting their preferences toward organic beverages as a result of the presence of artificial preservatives in bubble tea, hampereding the global bubble tea market's growth. On the other hand, the introduction of numerous new flavours and blends, as well as a strong demand for a range of teas among the young population, are likely to give lucrative chances for market expansion.
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