Market Size
The Global Bubble Tea Market US$ 2,984 million in 2022 and is projected to witness lucrative growth by reaching up to US$ 5,322 million by 2031. The market is growing at a CAGR of 7.5% during the forecast period (2024-2031).
The bubble tea market has been growing due to its unique taste and texture, which appeals to consumers looking for something different from traditional tea or coffee beverages. Additionally, the availability of a wide range of flavors and customizable options allows consumers to tailor their drinks to their individual preferences. Many consumers are looking for healthier options, and bubble tea brands are responding by offering healthier versions of their drinks. This includes using natural sweeteners, offering low-fat or non-dairy options, and using organic or all-natural ingredients which boosts the growth of the bubble tea market. Another factor contributing to the bubble tea market growth is customization. Consumers are increasingly looking for personalized experiences, and bubble tea shops are meeting this demand by offering a wide range of customizable options.
Market Scope
| Metrics | Details |
| CAGR | 7.5% |
| Size Available for Years | 2022-2031 |
| Forecast Period | 2024-2031 |
| Data Availability | Value (US$) |
| Segments Covered | Component, Base Ingredient, Flavor, Distribution Channel, and Region |
| Regions Covered | North America, Europe, Asia-Pacific, South America, and Middle East & Africa |
| Fastest Growing Region | Asia-Pacific |
| Largest Region | Asia-Pacific |
| Report Insights Covered | Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and Acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, Porter’s Analysis, Pricing Analysis, Regulatory Analysis, Supply-Chain Analysis, and Other key Insights. |
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Market Dynamics
Health and Wellness Trends are Driving the Growth of the Bubble Tea Market
According to USDA, 8 ounces of boba tea offers 120 grams of calories and 28 grams of carbohydrates. Boosting the immune system is one of the essential health advantages of drinking bubble tea. The beverage contains a variety of antioxidants that prevent the buildup of oxidative stress. In addition, there are healthy fresh fruits like strawberries and mango which can be added to bubble tea. Green tea, which is frequently used to make bubble tea, helps lower blood pressure and total cholesterol. Hence the health and wellness trends are driving the market growth.
The Availability of Alternative Caffeinated Drinks Hamper the Market Growth
Bubble tea is a popular drink that is often consumed as a source of caffeine, but there are many other beverages available that offer caffeine, such as coffee, energy drinks, and other tea-based drinks. For instance, most (73.6%) Canadian youth and young adults (age 12–24) surveyed had consumed caffeinated energy drinks. Moreover, some consumers may prefer these alternative drinks over bubble tea due to their taste preferences or nutritional profile. For example, around 166.63 million 60-kilogram bags of coffee were consumed globally in 2020–2021. Hence, the availability of alternative caffeinated drinks is restraining the growth of the bubble tea market.
Market Segment Analysis
The global bubble tea market is segmented based on component, base ingredients, flavor, distribution channel, and region.
The True Natural Flavor of Black Tea is Expected to Drive the Segment Growth
By base ingredient type, the global bubble tea market is segmented into black tea, green tea, and others. In 2022, black tea had the greatest share of the market. For instance, the amount of black tea consumed in Japan in 2021 was above 17,000 tonnes. The true natural flavor of black tea is attributable to this development. In addition, this drink reduces blood sugar and harmful cholesterol levels and improves intestinal health. It also works as a great antioxidant source.
Source: DataM Intelligence Analysis (2023)
Market Geographical Share
Large-Scale Sales of Bubble Tea in Asia- Pacific Region
The Asia Pacific region owns the biggest market share of more than 36% in 2022. The greatest sales are anticipated for Vietnam and Taiwan. While customers in Malaysia, Singapore, Indonesia, and Vietnam ordered an average of 3 cups per user per month, users in Thailand ordered the most bubble tea, averaging 6 cups per person per month. To attract consumers and strengthen their market position, several firms are opening new restaurants and cafes. Hence the large-scale sales of bubble tea in the Asia-Pacific region have contributed to having the highest share in the bubble tea market.
Source: DataM Intelligence Analysis (2023)
Market Companies
The major global players include The Bubble Tea Company, Bubble Tea House Company, Bobabox Limited, Cuppotee, Fokus Inc., Gong Cha, Lollicup USA, Inc., Sumo's (M) Sdn Bhd, Ten Ren's Tea Time, Troika JC
COVID-19 Impact Analysis
By Component
- Flavor
- Creamer
- Sweetener
- Tapioca Balls & Popping Balls
- Others
By Base Ingredient
- Black Tea
- Green Tea
- Others
By Flavor
- Original
- Fruit
- Chocolate
- Coffee
- Others
By Distribution Channel
- Supermarket/Hypermarket
- Specialty Stores
- Online Sales
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Rest of Europe
- South America
- Brazil
- Argentina
- Rest of South America
- Asia-Pacific
- China
- India
- Japan
- Australia
- Rest of Asia-Pacific
- Middle East and Africa
Key Developments
- In January 2023, BobaBam, a Los Angeles-based beverage company, introduced the launch of its new flavors namely Milk Tea and Taro.
- In April 2022, BUBLUV, Inc., a New York-based start-up on a mission to craft delicious, convenient, better-for-you, Asian-inspired food and beverages, announced the launch of its highly-anticipated BUBLUV Bubble Tea, the first ready-to-drink, better-for-you boba alternative that boasts no added sugar, no artificial ingredients, and less than 50 calories per bottle.
- In May 2022, Barroco by café De Bangkok serves approximately 21 flavors of boba tea, such as cotton candy, Japanese sweet potato, and others.
Why Purchase the Report?
- To visualize the global bubble tea market segmentation based on product type, component, base ingredient, flavor, and distribution channel understand key commercial assets and players.
- Identify commercial opportunities by analyzing trends and co-development.
- Excel data sheet with numerous bubble tea market-level data points all for segments.
- PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
- Product mapping available as excel consisting of key products of all the major players.
The global bubble tea market report would provide approximately 69 tables, 72 figures, and 102 pages.
Target Audience 2024
- Manufacturers/ Buyers
- Industry Investors/Investment Bankers
- Research Professionals
- Emerging Companies
