Growth opportunities in the Bubble Tea Market look promising over the next six years. This is mainly due to the ongoing extension in the product portfolio, market strategies to attract customers, and low cost.
Bubble Tea Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)
Key Drivers
The major drivers contributing to the growth of the global bubble tea market include their several health advantages, accessibility in different flavors, and the augmenting consumption of tea and coffee as a nootropic drink by students and the working-class population. Also, the increasing inclination towards fitness and wellness has raised the demand for zero fat and low-calorie products, which has further strengthened the bubble tea market size. In addition, the mounting prominence of several kinds of hot drinks is fuelling the market share. The economical price and the instantaneous switch of the tea lovers’ from traditional to flavored teas have stimulated the market growth. However, the availability of several alternative drinks such as coffee and side effects after the consumption of excess tea and added artificial colors will hinder the market growth.
Type Segment Drivers
Based on the type, black tea is projected to dominate the market during the forecast period. This is primarily attributed to its authentic and organic flavor. Moreover, the drink helps decrease the blood sugar level, bad cholesterol and enhance gut health. It is also an excellent source of antioxidants. On the other hand, green tea is predicted to expand at a faster CAGR over the forecast period. This is because of the expanding awareness about the health benefits associated with its consumption.
Regional Drivers
Based on the regional coverage, Asia Pacific is forecasted to witness a faster CAGR during the forecast period. The tea was first served and launched in Taiwan. Thailand accounts to be the major consumers, and in accordance with the ASEAN Post, in December 2019, the average consumption of bubble tea in the country was nearly six cups per person per month. On the other edge, Europe is expected to lead the market during the forecast period owing to aggravating demand for healthy hot beverages. U.K., Germany, and Italy are some of the prominent market contributors, and their robust prevalence will bolster the market growth.
Bubble Tea Market’s leading Manufacturers:
- Fokus Inc.
- Lollicup USA Inc.
- Gong Cha USA
- Ten Ren’s Tea Time
- Bubble Tea House Company
- Sumo’s (M) Sdn Bhd
- Tazo Bubble Tea Company
- Boba Box Limited
- CuppoTee Company
- Bubble Tea House Company
Bubble Tea Market Segmentation:
Segmentation by Type
- Green tea
- Black tea
- Oolong tea
- White tea
Segmentation by Flavor Type
- Original
- Chocolate
- Fruit
- Coffee
- Others
Segmentation by Point of Sales
- Online
- Retail stores
- Supermarkets
Segmentation by Region:
- North America
- United States of America
- Canada
- Asia Pacific
- China
- Japan
- India
- Rest of APAC
- Europe
- United Kingdom
- Germany
- France
- Spain
- Rest of Europe
- RoW
- Brazil
- South Africa
- Saudi Arabia
- UAE
- Rest of the world (remaining countries of the LAMEA region)
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