Bubble Tea Market to Soar at Steady CAGR of 8.5% by 2025 Worldwidejohndsouzaind | June 13, 2019 | 0 | Food and Beverages
Bubble Tea Market Research Report Overview:
Global bubble tea market is valued at approximately USD 1945.6 Million in 2017 and is anticipated to grow with a healthy growth rate of more than 8.5% over the forecast period 2018-2025. Global bubble tea market is a market of tea which is primarily consumed flavored beverage consisting of tea as the basic component and chewy tapioca balls. The Bubble tea was precisely originated in Taiwan in the year of 1980 & later gained attention in other Asia-Pacific Countries as well. Basically, bubble tea is considered as brewed black tea or green tea which is precisely mixed with milk, sugar along with chewy tapioca pearls, and usually served cold with ice. Known by various names such as pearl milk tea, bubble milk tea, boba juice, boba tea, or simply bubble tea, refreshing flavored fruit teas and milk teas, served ice cold or piping hot, with cherry natural tapioca balls that you suck up through a big fat straw. Boba teas or bubble teas are usually of two categories based on their content, which are teas without milk and milk teas. These Type of tea come with a various base which includes black, green, or oolong tea & in many flavors which includes both fruit and non-fruit. The Milk teas mainly include condensed milk, powdered milk, or fresh milk. Several boba shops are indulged in offering Asian style smoothies that include a dairy base along with fresh fruit or fruit-flavored powder but no tea.
Bubble tea contains tapioca which is a good source of carbohydrates for quick energy. However, bubble tea does not have any potential health benefits as such. The bubble tea market is primarily driven due to the cost-effective price considering the global scenario. However, the addition of artificial preservatives along with the color & presence of excess sugar in bubble tea are acting as restraining factors considering the market growth. The emergence of new flavors of bubble tea & lowering demand for carbonated drinks paves way for opportunities for market expansion. Thus, the number of fully dedicated outlets for bubble tea is increasing and gaining popularity.
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On the basis of segmentation, bubble tea market is segmented into end-user and type. Based on the end-user segment the global bubble tea market is segmented into three major categories which include, kids <10 years, teenagers <25 years and adults Above 25 years. The market is currently dominated by the adult segment with more than 61.82% revenue share in 2017. The segment is anticipated to dominate throughout the forecast period. The key reasons supporting the high demand from these segments are higher income levels of consumers under this age group and rapidly increasing demand for high energy drinks among adults. The teenager’s segment is anticipated to witness the highest growth over the forecast period.
Based on type, the global bubble tea market is divided into the original flavor, fruit flavor, and others. The fruit flavor bubble tea segment dominates the global bubble tea market with 56.18% revenue share in 2016. High consumer preference for these types of bubble tea is due to their exotic taste flavors and high nutrition value. Fruit-based bubble tea is much healthier than the original bubble tea. In addition to this, it offers more diverse options to the customers and a possibility to reduce the added sugar content in the bubble tea making it healthier. Original bubble tea, on the other hand, has limited customization options and hence are lesser in demand. Other flavors such as coffee based, chocolate-based bubble teas are anticipated to grow over the forecast period.
The regional analysis of global Bubble Tea market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is primarily a coffee consuming region, however, with shifting consumer interest towards the rising tea trends is changing the entire paradigm of the North American beverage industry. An increasing number of local and global outlets serving tea in the region and increasing consumer awareness for health-conscious drinks, the tea industry continues to bring tea-curious drinkers ever more choices. The European bubble tea market is anticipated to witness a competitive war between the local and the foreign brands as several established Asian bubble tea brands are eyeing to enter the region. UK and Italy are anticipated to be the most prominent targeted regions by these brands as these regions have witnessed an increasing demand for non-carbonated drinks and increasing awareness for health benefits of tea in these regions. The Asia Pacific has been the second largest market for bubble tea contributing to 29.46% revenue share in 2017. Asia Pacific bubble tea market is anticipated to grow up to USD 1175.9 million by 2025 at a healthy CAGR of 8.9% through 2025. Due to its origin from Taiwan, bubble tea has been a popular traditional drink in several Asian countries. However, the beverage has recently gained the consumer’s attention due to increasing popularity across the world and also the constant efforts of the bubble tea brands to innovate with the various bubble tea flavors and ingredients. Moreover, the region has witnessed an increasing number of retail outlets serving bubble tea and an increasing per capita income. Although there is a significant increase in the number of families joining the middle-class group worldwide, in 2017, almost 88% of the next 1 billion people to enter the middle class globally will be Asians.
Market player included in this report are:
Lollicup USA Inc
Bubble Tea House Company
Ten Rens Tea Time
Boba Box Limited
Gong Cha USA
Kung Fu Tea
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By End User:
Kids <10 Years
Teenagers <25 years
Rest of the World
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Furthermore, years considered for the study are as follows:
Historical year – 2015, 2016
Base year – 2017
Forecast period – 2018 to 2025
Target Audience of the Global Bubble Tea Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers VARs
Third-party knowledge providers
Table of Content Covers the Topics mentioned below
Global Bubble Tea Market Definition and Scope
Global Bubble Tea Market Dynamics
Global Bubble Tea Market Industry Analysis
Global Bubble Tea Market, by End User
Global Bubble Tea Market, by Type
Global Bubble Tea Market, by Regional Analysis
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Name: Jennifer Daniel
Organization: Planet Market Reports