Thank you for contacting us, our sales representative will get in touch with you shortly! For instance, Nextrends Asia 2021 displayed a 330% surge in Taiwans exports of pearl milk teas base ingredients (raw materials, packaging and machinery, and others) compared to 2018. To use individual functions (e.g., mark statistics as favourites, set This was found in a study which provides analyses and insights into the business dynamics behind bubble tea. GrabFood is an extended service of Grab, the transportation network company, that does food deliveries. The beverage has experienced a few resurgences in popularity, such as in 2007 and 2011.11 There were more than 10 chains and 500 outlets selling bubble tea in 2011. Apart from this, coffee flavor is also anticipated to hold a strong market share in the forecast period owing to the escalated demand for coffee as a healthy beverage. This was attributed to rise in the fitness conscious people across the globe. 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. You only have access to basic statistics. 2023 Allied Market Research. Due to increasing consumer demand, GrabFood now has close to 4,000 bubble tea outlets in their network, which is a 200 percent growth in outlets for the region. The consumption of black tea is highly promoted due to its strong antioxidant, anti-aging, and anti-diabetic properties. Advertising prohibitions will also apply to such drinks. The key players in the industry receiving high levels of popularity and response from customers are franchising their businesses into different locations. Save my name and email in this browser for the next time I comment. This article was first published on 27 December, 2019. diabetes, heart disease, stroke and cancer. T&C*. The bubble tea industry is enormous and accounts for one of the fastest-growing food markets in the world today. Retrieved from NewspaperSG.4. The pandemic served as a natural selection process as many stores shut down. We dont recommend anyone making it a daily indulgence. business insights into THE BUBBLE TEA MARKET - mise en place This service is not intended for persons residing in the E.U. These drinks are made with milk tea and tapioca pearls (to make the bubbles), which contain a lot of natural sugar. The global bubble tea market size was valued at USD 2.29 billion in 2022 and is projected to grow from USD 2.46 billion in 2023 to USD 4.08 billion by 2030, exhibiting a CAGR of 7.51% during the forecast period. Bubble tea is a popular drink among Singaporeans, and consists of a sweet flavored tea base and tapioca pearls, or "bubbles". Retrieved from NewspaperSG.5. Since our launch, weve worked on more than 1,000 projects for clients around the world. Bubble tea can be found in over 30 countries. While consumers in Singapore are more health conscious, its not the same across other markets, it added. Brands such as CHATIME and Bubbolitas established their first production units of boba drinks in 2009, and since then, the market has witnessed a growth trajectory. Young people between ages 20 and 29 are interested in bubble tea. As soon as this statistic is updated, you will immediately be notified via e-mail. The black tea segment is projected to grow at a significant CAGR during the forecast period, owing to its increased preference by health-conscious consumers across every region. It also offers a detailed analysis of the market size and growth rate for all possible market segments. The market research report includes quantitative and qualitative insights into the market. The global bubble teamarket holds a substantial scope for growthduring the forecast period. 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 size was valued at $2.29 billion in 2022 & is projected to grow from $2.46 billion in 2023 to $4.08 billion by 2030, 2020 Fortune Business Insights . Many Thai people drink bubble tea daily, and in many cases may drink multiple cups per day. As a Premium user you get access to the detailed source references and background information about this statistic. The best of the best: the portal for top lists & rankings: Strategy and business building for the data-driven economy: Industry-specific and extensively researched technical data (partially from exclusive partnerships). Due to the COVID-19 pandemic, the global Bubble Tea market size is estimated to be worth USD 8062.1 million in 2023 and is forecast to a readjusted size of USD 27780 million by 2030 with a CAGR of . The industry shows no signs of slowing down, and in fact, appears to be growing exponentially with every passing year. "Number of Bubble Tea Outlets in Singapore in 2019, by Brand. Not only that they were very responsive and dealt with all my questions very quickly but they also responded honestly and flexibly to the detailed requests from us in preparing the research report. Bubble tea is a beverage originating from Taiwan comprising tea with fruit syrup or milk added, and then shaken. According to a recent consumer study, 94% of people between ages 20 and 29 have purchased bubble tea within the last 3 months. 2. But in case you dont Its tea served with a giant chewy ball of tapioca at the bottom of the cup. Consumer Shift toward Healthy Alternatives to Favor Growth. By clicking subscribe, I agree to receive news updates and promotional material from Mediacorp and Mediacorp's partners. Currently, you are using a shared account. Bubble Tea Market Sale, Share, Size, Growth & Forecast -2032 Please create an employee account to be able to mark statistics as favorites. Get insights on topics that are crucial for your business. Statista. According to a study published in the National Library of Medicine, in 2022, chewing tapioca pearls can increase salivary C-protein (CRP) and calcium (Ca) levels. Get detailed COVID-19 impact analysis on the Bubble Tea Market. Unapproved additive found in 11 food products. ", Latin America: yerba mate per capita consumption 2018, by country, Argentina: yerba mate export volume 2019, by destination, Argentina: yerba mate production 2010-2019, Latin America: yerba mate planted area 2020, by country. Whether youre feeling something sweet, fruity, and refreshing, something soothing and tea-like, or a slushy smoothie like-drink, bubble tea has you covered. Furthermore, there has been an increase in boba stores in the U.S. and Canada, owing to the shift in consumer preferences toward no and low-alcohol beverages, which has further contributed to the market growth. A. For instance, in August 2021, according to a study by the Business Times Newspaper, Southeast Asia spent around USD 3.7 billion on launching milk tea and such similar drinks, owing to the ever-growing demand from youth. 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. (2002, January 13). The black tea segment is expected to be the leading segment in the global market. Introduced to China in the early 1990s, it quickly became one of the most popular drinks in the nation. The Tea segment in Singapore is projected to grow by 2.16% (2023-2025) resulting in a market volume of US$807.70m in 2025. . Please do not hesitate to contact me. Retrieved from http://chunshuitang.com.tw/3. According to the Indian Tea Association 2020, tea price has risen by 25%-40% on average due to lockdown in the tea growing regions, leading to a drop in crop size along with disruptions in transportation and logistics. Studies showed that green tea-based milk tea is proven to be beneficial for lowering blood pressure and the risk of cancer. Is Running A Bubble Tea Business In S'pore Actually Lucrative?

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