Bubble tea, popularly known as boba tea, is a Taiwanese drink invented in Tainan and Taichung in the 1980s. It is prepared with tea or milk as the base component. This tea is glazed with boba, which are soft, chewy, and gummy tapioca pearls extracted from cassava root. Other ingredients, such as jelly and fruit balls, are used to enhance the texture of the tea. Bubble tea is served in a hot or cold form, according to the preference of consumers and a fat straw is used through which the pearls can be easily eaten by consumers. The adoption of bubble tea has been quite high in developed regions such as the U.S., Canada, and Germany, while emerging countries such as China, Brazil, and India are catching up quickly.
The global bubble tea market has witnessed significant growth over the years and is expected to grow at a steady pace during the forecast period. This can be attributed to the growing health awareness and rise in adoption of bubble tea, owing to its health benefits and popularity among health-conscious consumers and young generation. Availability of bubble tea at lower prices and introduction of additional healthy ingredients in it by different market players drive the global bubble tea market growth. In addition, a rise in number of vegan people also helps to drive the growth of the market. However, excess sugar content in these drinks lead to health issues and trend of coffee consumption are expected to restrict market growth. In addition, due to the presence of artificial preservatives in the bubble tea, consumers are changing their preference toward organic beverages, which hampers the growth of the global bubble tea market. On the contrary, introduction of various new flavors and blends and high demand among young population for a variety of teas are expected to provide lucrative opportunities for the market expansion.
The report segments the global bubble tea market based on base ingredient, flavors, component, and region. By base ingredient, it is divided into black tea, green tea, oolong tea, and white tea. On the basis of flavor, it is categorized into original flavor, coffee flavor, fruit flavor, chocolate flavor, and others. By component, it is classified into flavor, creamer, sweetener, liquid, tapioca pearls, and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key players operating in the market includes Lollicup USA Inc., CuppoTee Company, Bubble Tea House Company, Ten Ren's Tea Time, Boba Box Limited, Sumos Sdn Bhd, Gong Cha USA, Boba Tea Company, Troika JC. (Qbubble), and Fokus Inc.
The other players operating in the global bubble tea market are Bubble Tea Supply Inc., ChaTime, CoCo Fresh, Quickly, Kung Fu Tea, Boba Loca, Happylemon, Share Tea, T Bun International, Fanale Drinks, Grand Chainly, and Huey-Yuhe Enterprise.
KEY BENEFITS FOR STAKEHOLDERS
KEY MARKET SEGMENTATION
By Base Ingredient
By Flavor
By Component
By Region
The global bubble tea market has witnessed significant growth over the years and is expected to grow at a steady pace during the forecast period. This can be attributed to the growing health awareness and rise in adoption of bubble tea, owing to its health benefits and popularity among health-conscious consumers and young generation. Availability of bubble tea at lower prices and introduction of additional healthy ingredients in it by different market players drive the global bubble tea market growth. In addition, a rise in number of vegan people also helps to drive the growth of the market. However, excess sugar content in these drinks lead to health issues and trend of coffee consumption are expected to restrict market growth. In addition, due to the presence of artificial preservatives in the bubble tea, consumers are changing their preference toward organic beverages, which hampers the growth of the global bubble tea market. On the contrary, introduction of various new flavors and blends and high demand among young population for a variety of teas are expected to provide lucrative opportunities for the market expansion.
The report segments the global bubble tea market based on base ingredient, flavors, component, and region. By base ingredient, it is divided into black tea, green tea, oolong tea, and white tea. On the basis of flavor, it is categorized into original flavor, coffee flavor, fruit flavor, chocolate flavor, and others. By component, it is classified into flavor, creamer, sweetener, liquid, tapioca pearls, and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key players operating in the market includes Lollicup USA Inc., CuppoTee Company, Bubble Tea House Company, Ten Ren's Tea Time, Boba Box Limited, Sumos Sdn Bhd, Gong Cha USA, Boba Tea Company, Troika JC. (Qbubble), and Fokus Inc.
The other players operating in the global bubble tea market are Bubble Tea Supply Inc., ChaTime, CoCo Fresh, Quickly, Kung Fu Tea, Boba Loca, Happylemon, Share Tea, T Bun International, Fanale Drinks, Grand Chainly, and Huey-Yuhe Enterprise.
KEY BENEFITS FOR STAKEHOLDERS
- The report provides a quantitative analysis of the current market trends, estimations, and dynamics of the market size from 2019 to 2027 to identify the prevailing global bubble tea market opportunities.
- Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier–buyer network.
- In-depth analysis of the size and segmentation assists in determining the prevailing market opportunities.
- The major countries in each region are mapped according to their revenue contribution to the global bubble tea industry.
- The market player positioning segment facilitates benchmarking and provides a clear understanding of the present position of the market players in the bubble tea industry.
KEY MARKET SEGMENTATION
By Base Ingredient
- Black Tea
- Green Tea
- Oolong Tea
- White Tea
By Flavor
- Original Flavor
- Coffee Flavor
- Fruit Flavor
- Chocolate Flavor
- Others
By Component
- Flavor
- Creamer
- Sweetener
- Liquid
- Tapioca Pearls
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- UK
- Germany
- France
- Italy
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- Taiwan
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Saudi Arabia
- South Africa
- Turkey
- Rest of LAMEA
Table of Contents
Chapter 1: Introduction
Chapter 2: Executive Summary
Chapter 3: Market Overview
Chapter 4: Global Bubble Tea Market,By Base Ingredient
Chapter 5: Global Bubble Tea Market, by Flavor
Chapter 6: Bubble Tea Market, by Component
Chapter 7: Global Bubble Tea Market, by Region
Chapter 8: Competitive Landscape
Chapter 9: Company Profiles
Executive Summary
According to the report titled, 'Bubble Tea Market by Base Ingredient, Flavor,and Component: Opportunity Analysis and Industry Forecast, 2019-2027', the bubble tea market size was valued at $2.4 billion in 2019 and is estimated to reach $4.3 billion by 2027, registering a CAGR of 7.80% from 2020 to 2027. In 2019, the black tea segment accounted for more than half of the share in the total bubble tea market and is expected to grow at a CAGR of 7.50% throughout the forecast period.North America is one of the prominent regionsin the market that accounted for asizeable share of the total market in 2019.Bubble tea, popularly known as boba tea, is a Taiwanese drink invented in Tainan and Taichung in the 1980s. It is prepared with tea or milk as the base component. This tea is glazed with boba, which are soft, chewy, and gummy tapioca pearls extracted from cassava root. Other ingredients, such as jelly and fruit balls, are used to enhance the texture of the tea. Bubble tea is served in a hot or cold form, according to the preference of consumers and a fat straw is used through which the pearls can be easily eaten by consumers.The adoption of bubble tea has been quite high in developed regions such as the U.S., Canada, and Germany, while emerging countries such as China, Brazil, and India are catching up quickly.
The global bubble tea market has witnessed significant growth over the years and is expected to grow at a steady pace and helps ti grow the bubble tea market size during the forecast period. This can be attributed to the growing health awareness and rise in adoption of bubble tea, owing to its health benefits and popularity among health-conscious consumers and young generation. Availability of bubble tea at lower prices and introduction of additional healthy ingredients in it by different market players drive the global bubble tea market growth. In addition, rise in number of vegan people also helps to drive the growth of the market. However, excess sugar content in these drinks lead to health issues and trend of coffee consumption are expected to restrict the market growth. In addition, due to the presence of artificial preservatives in the bubble tea, consumers are changing their preference toward organic beverages, which hampers the growth of the global bubble tea market. On the contrary, introduction of various new flavors and blends and high demand among young population for a variety of teas are expected to provide lucrative opportunities for the market expansion.
The report segments the global bubble tea market based on base ingredient, flavors, component, and region. By base ingredient, it is divided into black tea, green tea, oolong tea, and white tea. On the basis of flavor, it is categorized into original flavor, coffee flavor, fruit flavor, chocolate flavor, and others. By component, it is classified into flavor, creamer, sweetener, liquid, tapioca pearls, and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
According to the bubble teamarket analysis, in 2019,theblack tea segment generated the highest revenue and is expected to remain dominant throughout the forecast period. This can be attributed to rise in the popularity of bubble tea with black tea as thebase ingredient across the globe. However, the green tea segment is expected to grow at the highest CAGR duringthe forecast period. This is due to growing number of health-conscious consumers worldwide.
According to the global bubble tea market trends, the fruit flavor segment was the most prominent segment accounting for the highest share in the bubble tea market. This can be attributed to change in preference of consumers toward healthy beverages and better taste. However, the chocolate flavor segment is expected to witness highest growth, owing to increase in its popularity of in all age groups.
On the basis of component, the liquid component segment generated maximum revenue in 2019 and is expected to continue this trend throughout the forecast period. This can be attributed to the availability of various options such as combination of various liquid flavors and syrups. However, the sweeteners segment is expected to grow at the highest CAGR duringthe forecast period, owing to availability of organic sweeteners such as honey-based sweeteners for bubble teas.
Region wise, North America accounted for the maximum share in the global market in 2019 and is expected to remain dominant during the forecast period.This can be attributed to higher expenditure of the consumers on healthy beverages. Moreover, aggressive marketing and celebrity brand endorsements for various flavors of bubble tea help push sales in this region.However, Europe is expected to grow with the highest CAGR throughout the forecast period, owing to changes in the buying behavior of people andrising awareness of bubble tea in this region.
Key Findings Of The Study
The bubble tea market was valued at $2.4 billion in 2019 and is estimated to reach $4.3 billion by 2027,growing at a CAGR of 7.80% through the forecast period.
Based on base ingredients, the green tea segment is anticipated to witness the fastest growth, registering a CAGR of 8.20% during the forecast period.
In 2019, based on flavor, thefruit flavor segment held the highest share, accounting for more than half of the global market share.
In 2019, China was the most prominent market in Asia-Pacific and is expected to grow at a significant CAGR throughout the forecast period.
North America was the dominant region in 2019, accounting for more the one third of the global bubble tea market share.
The key players in the bubble tea industry, profiled in the report include Bobabox Limited, Bubble Tea House Company, Cuppotee, Fokus Inc., Gong Cha, Lollicup USA, Inc., Sumo's (M) Sdn Bhd, Ten Ren's Tea Time, The Bubble Tea Company, and Troika JC.
The other players operating in the global bubble tea market are Bubble Tea Supply Inc., ChaTime, CoCo Fresh, Quickly, Kung Fu Tea, Boba Loca, Happylemon, Share Tea, T Bun International, Fanale Drinks, Grand Chainly, and Huey-Yuhe Enterprise.
Companies Mentioned
- Bobabox Limited
- Bubble Tea House Company
- Cuppotee
- Fokus Inc.
- Gong Cha
- Lollicup USA Inc.
- Sumo's (M) Sdn Bhd
- Ten Ren's Tea Time
- The Bubble Tea Company
- Troika JC
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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