23-May-2024 | Facts and Factors
The latest findings linked to the “Global Bubble Tea Market” have recently been published by Facts & Factor in a neatly packaged and comprehensive format. We at Facts & Factors estimate that the market surrounding bubble tea will reach a projected value of USD 6,120 Million in the year 2032 with a growth rate of 8.69% CAGR from an initial value of USD 2890 Million in the year 2023.
Bubble tea is a non-alcoholic tea-based beverage that is a combination of tea mixed with chewy tapioca that has its originations in the early 1980s. The bubble tea can be separated into a mixture of with or without milk. The most commonly used bubble teas are black pearl milk tea and green milk pearl tea. The driving factors for the global bubble tea market are rising consumption levels of tea and coffee instead of non-carbonated drinks coupled with included health and nutritional benefits such as low calorie and zero-fat drinks. Additionally, recent studies have indicated that regular consumption of bubble tea leads to improved brain functions.
The inclusion of flavors such as fruits, chocolate, and simply classic is expected to boost sales for the global bubble tea market over the forecast period. The rising popularity and increasing prevalence of healthy drinking beverages will further increase the footprint of the market. An increase in millennial and generation Z will augment the global bubble tea market over the forecast with increased revenue streams. Most importantly, the increased advertisement budgets coupled with aggressive brand placements from celebrities and brands will attract a large consumer base.
Top Market Players
The key participants in the global bubble tea market are Boba Luca USA Inc., Bubble Tea Supply Inc., Chatime Group, CoCo Fresh Tea & Juice, Fokus Inc., Gong Cha, Happy Lemon, Huey-Yuhe Enterprise, Kung Fu Tea, Lollicup USA Inc., Share Tea, Sumo, Ten Ren’s Tea Time, Tiger Sugar, Troika JC., Yummy Towns Holdings Corp, and others.
Market Dynamics
The latest developments in the global bubble tea market are expected to drive the future pathway during the forecast:
- Gong Cha, A Taiwan-based firm is expanding at an aggressive pace and is expected to launch around 1,000 stores operating in 17 countries.
- Chatime Malaysia recently revealed its five-year plan which focuses on expanding its footprint outside its region in countries such as India, U.S, Singapore, and Saudi Arabia.
On the basis of flavor, the global bubble tea market can be divided into black tea, green tea, oolong tea, and white tea. The black tea segment is expected to occupy the largest market share during the advent of the forecast in terms of global revenue contribution for this segment. Factors credited with this dominant position in the segment are increased preference for black tea among the health-conscious population and increased choice of organic beverages.
On the basis of flavor, the global bubble tea market can be divided into classic, fruit, chocolate, coffee, and others. The fruit segment is expected to occupy the largest market share during the advent of the forecast due to the inclusion of lychee, mango, passion fruit, peach, plum, strawberry, avocado, kiwi, and lemon, among others. Furthermore, the fruit segment possesses the highest nutritional value from its counterparts.
Asia-Pacific Will Witness The Largest Market Share During The Forecast Period
Asia-Pacific is expected to witness the largest market share during the advent of the forecast owing to large contributing revenue from countries such as Vietnam and Taiwan. The presence of key players in the region coupled with the launch of new restaurants and cafes will further boost the sales for bubble tea. North America is expected to witness the second largest market share during the forecast owing to increased consumer preference toward non-alcoholic beverages.
Report Scope
Report Attribute |
Details |
Market Size in 2023 |
USD 2,890 Million |
Projected Market Size in 2032 |
USD 6,120 Million |
CAGR Growth Rate |
8.69% CAGR |
Base Year |
2023 |
Forecast Years |
2024-2032 |
Key Market Players |
Boba Luca USA Inc., Bubble Tea Supply Inc., Chatime Group, CoCo Fresh Tea & Juice, Fokus Inc., Gong Cha, Happy Lemon, Huey-Yuhe Enterprise, Kung Fu Tea, Lollicup USA Inc., Share Tea, Sumo, Ten Ren’s Tea Time, Tiger Sugar, Troika JC., Yummy Towns Holdings Corp, and Others. |
Key Segment |
By Product Type, By Component, By Flavor, and By Region |
Major Regions Covered |
North America, Europe, Asia Pacific, Latin America, and the Middle East &, Africa |
Purchase Options |
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Browse in the full report “Bubble Tea Market Size, Share, Growth Analysis Report By Product Type (Green Tea, Black Tea, Oolong Tea, and White Tea), By Component (Flavor, Liquid, Tapioca Pearls, Creamer, Sweetener, and Others), By Flavor (Classic, Coffee, Chocolate, Fruit, Taro, Strawberry, and By Region - Global and Regional Industry Insights, Overview, Comprehensive Analysis, Trends, Statistical Research, Market Intelligence, Historical Data and Forecast 2024 – 2032” at https://www.fnfresearch.com/bubble-tea-market-report
The global bubble tea market can be segmented into:
By Product Type
- Green Tea
- Black Tea
- Oolong Tea
- White Tea
By Component
- Flavor
- Liquid
- Tapioca Pearls
- Creamer
- Sweetener
- Others
By Flavor
- Classic
- Coffee
- Chocolate
- Fruit
- Taro
- Strawberry
- Others
Global Bubble Tea Market: By Regional Segment Analysis
- North America
- Europe
- UK
- France
- Germany
- Italy
- Spain
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East and Africa
- GCC Countries
- South Africa
- Rest of MEA
About Us:
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