Market Research Report

Global Bubble Tea Market Research Report: Forecast (2024-2030)

By Base Tea (Black Tea , Green Tea, Oolong Tea, White Tea), By Flavor (Fruit , Original, Coffee , Chocolate , Others ), By Region (North America, South America, Europe, The Middle ...East & Africa, Asia-Pacific), By Company (Kung Fu Tea, Quickly, Lollicup USA, Inc., Bubble Tea Supply, Inc., Ten Ren's Tea Time, Gong Cha, ChaTime, Bobabox Ltd., Fokus, Inc., Coco Fresh Tea and Juice, Happy Lemon, Cuppotee, Tiger Sugar, Grand Chainly Enterprise, Share Tea) Read more

  • Food & Beverages
  • Dec 2023
  • 183
  • PDF, Excel, PPT

Market Definition

Bubble tea, also known as boba tea or pearl milk tea, is a Taiwanese tea-based beverage invented initially in Tainan & Taichung in the 1980s. It is made up typically of high-quality milk & sweetener liquid tapioca pearls as well as creamer, fruit powder, & sweeteners. Besides its origin, bubble tea has been gaining immense popularity in Western countries over the years, mainly due to its different tastes, along with the availability of various flavors like fruits, coffee, chocolate, & the simple classic.

Market Insights & Analysis: Global Bubble Tea Market (2024-30)

The global bubble tea market size reached USD 1.68 Billion in 2022 and is projected to grow at a CAGR of around 7.23% during the forecast period, i.e., 2024-30. The growth of the market is projected to be driven primarily by the buzz among individuals worldwide for bubble tea owing to its appeal & novelty. The world is observing a rapidly increasing number of people across different countries showing greater interest in innovative beverages infused with bold flavors and being highly experimental with flavors. Consequently, it is captivating consumer attention and amplifying the demand for bubble teas.

Health experts recommend that bubble tea acts as an antioxidant and has anti-inflammatory properties. Thus, its moderate consumption slows down cell damage, lowers cholesterol levels, boosts concentration, improves brain function, & serves effectively against depression & other such health issues. Hence, the growing health consciousness among consumers is extensively augmenting its demand & availability.

Report Coverage Details
Study Period Historical Data: 2019-22
Base Year: 2023
Forecast Period: 2024-30
CAGR (2023-2028) 7.23%
Regions Covered North America: US, Canada, Mexico
Europe: Germany, The UK, France, Spain, Italy, Rest of Europe
Asia-Pacific: China, India, Japan, South Korea, Southeast Asia, Taiwan, Australia, Rest of Asia-Pacific
South America: Brazil, Argentina, Rest of South America
Middle East & Africa: UAE, Saudi Arabia, South Africa, Rest of MEA
Key Companies Profiled Kung Fu Tea, Quickly, Lollicup USA, Inc., Bubble Tea Supply, Inc., Ten Ren's Tea Time, Gong Cha, ChaTime, Bobabox Ltd., Fokus, Inc., Coco Fresh Tea and Juice, Happy Lemon, Cuppotee, Tiger Sugar, Grand Chainly Enterprise, Share Tea
Market Value (2022) 1.68 USD Billion

 

Besides, bubble tea is also seen as an emerging Gen Z’s trademark since its consumption is peaking high among the young generation. The same aspect is also instigating food & beverage manufacturers to introduce milk tea & similar drinks for the youth. Moreover, social media is another prominent aspect contributing to the mounting popularity of bubble tea globally.

Most bubble tea recipes contain the base mixed with fruit & milk, with chewy tapioca balls, which are gaining immense momentum amongst the youth. Furthermore, the ever-rising consumption of tea & nootropic drinks by the working-class population & students, coupled with zero-fat & low-calorie contents being provided at bubble tea stores, are a few of the factors driving the market through 2030.

Global Bubble Tea Market Key Drivers:

Increasing Consumer Inclination toward Healthy Drinks - The mounting prevalence of lifestyle disorders like obesity & diabetes owing to the busy lifestyles of consumers has compelled them to shift toward healthy beverages like ginger & boba teas, mainly due to their easy customization with various bases & toppings like jellies, fruit bits, syrups, & tapioca balls, i.e., prime aspect projected to drive the Bubble Tea Market during 2024-30. Green tea-based milk tea helps lower blood pressure as well as the risk of cancer.


Global Bubble Tea Market Research Report: Forecast (2024-2030)

In addition, the moderate consumption of bubble tea improves the balance of vitamins & minerals in the human body owing to the presence of numerous inclusions like fruit bits, cream, & yogurt, among others. Moreover, the growing working class populace in developing countries, increasing establishment of boba tea outlets, and rising health consciousness among consumers are also promoting the adoption of bubble tea globally and thus driving the market.

Global Bubble Tea Market Growth Restraint:

Rising Availability of Alternative Caffeinated Beverages - Before beginning the day, several consumers depend highly on caffeinated drinks like coffee & tea, the most consumed & socially accepted nootropic beverages worldwide. Hence, despite the surging demand for innovative teas worldwide, the extensively growing availability of other caffeinated & conventional drinks like coffee & chocolate, coupled with the strong consumption trends of coffee in Western countries, are the major restraints to the growth of the Global Bubble Tea Market growth during 2024-30. Moreover, the growing availability of suitable alternatives like unsweetened tea, coconut water, & fruit-infused teas, among others, which offer benefits similar to bubble tea, is also hampering the market expansion.

Global Bubble Tea Market (2024-30): Segmentation Analysis

Global Bubble Tea Market report by Markntel Advisors includes segmentation analysis based on Base Tea and Flavor. This breakdown allows businesses to identify specific market segments and tailor their marketing and product strategies accordingly, maximizing their chances of success in the Bubble Tea Market.

Based on Base Tea:

  • Black Tea
  • Green Tea
  • Oolong Tea
  • White Tea

Among them all, green tea is expected to continue its dominance in the Bubble Tea Market during 2024-2030. It owes mainly to the large number of consumers worldwide who are becoming health consciousness shifting towards natural & organic ingredients due to the growing prevalence of chronic diseases & other health disorders. Regular consumption of green tea prevents people from gaining weight by inducing weight loss. In addition, green tea has also shown long-term energy-inducing properties, which positively impact the regulation of body metabolism, thereby augmenting its popularity & stimulating the overall market growth.

On the other hand, the demand for black tea is anticipated to demonstrate rapid growth in the market in the coming years. It ascribes to the increasing preference of consumers, especially the health-conscious population worldwide, for black tea, owing to its strong antioxidant, anti-aging, & anti-diabetic properties. Therefore, several key players operating in the industry are expanding their production & distribution capacities in order to cater to varied consumer demands, thereby propelling the overall market growth.

Based on Flavor:

  • Fruit
  • Original
  • Coffee
  • Chocolate
  • Others

Here, fruit-flavored bubble tea is highly popular among the global populace and holds a prominent market share. It ascribes to the versatility & availability of various fruity flavors like lychee, mango, passion fruit, peach, plum, strawberry, avocado, banana, grape, kiwi, lemon, etc., coupled with the higher nutritional value in these flavors compared to others. The fruit flavor of the tea is loaded with lots of antioxidants & vitamins and acts as an incredible substance for cleansing the toxins from the body. Besides, the surging popularity of tea-based fruity beverages is another prominent aspect accelerating the demand for fruit flavors tea.

Global Bubble Tea Market Regional Projection

On the geographical front, the Bubble Tea Market expands across:

  • North America
  • South America
  • Europe
  • Middle East & Africa
  • Asia-Pacific

Among all regions, Asia-Pacific holds a prominent share of the Bubble Tea Market and is projected to witness significant growth during 2024-30. It owes to the massive demand & popularity of these teas, particularly across countries like Vietnam & Taiwan, i.e., boosting the sales of bubble teas, coupled with the presence of leading players & new entrants across the region, i.e., expanding their offerings and, in turn, driving the market. Moreover, high spending by consumers on healthy beverages, the ever-growing production & consumption of various types of tea, and the increasing establishment of cafes/restaurants by bubble tea manufacturers/entrepreneurs in Asia-Pacific are other prominent aspects stimulating regional market growth.

On the other hand, North America is another tremendously growing bubble tea market, which owes to the increasing number of boba tea stores, particularly in the US & Canada, as more & more consumers are adopting no and low-alcohol beverages. Over the past few years, a large number of Americans have been becoming increasingly aware of the adverse effects of excessive meat consumption and thus are adopting veganism. Hence, the production & consumption of plant-based diets & vegan food is significantly surging across the region, i.e., instigating manufacturers to offer plant-based dairy alternatives and, in turn, augmenting the demand for bubble tea. Moreover, the growing consumer preference for fruity beverages is another crucial aspect positively influencing the North America Bubble Tea Market growth.

Global Bubble Tea Industry Recent Developments

  • In March 2023, Gong cha, one of the fastest-growing bubble tea brands, announced expanding its American leadership teams, i.e., in line with its aim to meet its aggressive international growth goals.
  • In April 2022, BUBLUV, Inc., a New York-based start-up, launched its highly-anticipated BUBLUV Bubble Tea, the first ready-to-drink, better-for-you boba alternative with no added sugar, no artificial ingredients, and less than 50 calories per bottle.

Gain a Competitive Edge with Our Global Bubble Tea Market Report

  1. Global Bubble Tea Market report provides a detailed and thorough analysis of market size, growth rate, competitive landscape, and key players. This comprehensive analysis helps businesses gain a holistic understanding of the market dynamics and make informed decisions.
  2. This report also highlights current market trends and future projections, allowing businesses to identify emerging opportunities and potential challenges. By understanding market forecasts, companies can align their strategies and stay ahead of the competition.
  3. Global Bubble Tea Market report aids in assessing and mitigating risks associated with entering or operating in the market.
  4. The report would help in understanding market dynamics, regulatory frameworks, and potential challenges, businesses can develop strategies to minimize risks and optimize their operations

Frequently Asked Questions

   A. The Bubble Tea Market is projected to grow at a CAGR of around 7.23% during 2024-30.

   A. The ever-increasing interest of consumers in healthy food & beverages owing to their growing health consciousness levels is the prime aspect projected to drive the Bubble Tea Market through 2030.

   A. Kung Fu Tea, Quickly, Lollicup USA, Inc., Bubble Tea Supply, Inc., Ten Ren's Tea Time, Gong Cha, ChaTime, Bobabox Ltd., Fokus, Inc., Coco Fresh Tea and Juice, Happy Lemon, Cuppotee, Tiger Sugar, Grand Chainly Enterprise, and Share Tea are the key players operating in the Bubble Tea Market.

   A. The increasing availability of alternative caffeinated beverages worldwide is the major factor projected to hinder the growth of the Bubble Tea Market through 2030.

   A. Fruit flavors would generate remunerative opportunities for the leading players in the Bubble Tea Market over the forecast years.

   A. Globally, Asia-Pacific would provide lucrative prospects to the Bubble Tea Market during 2024-30.

Global Bubble Tea Market Research Report (2024-2030) - Table of Contents

 

  1. Market Segmentation
  2. Introduction
    1. Product Definition
    2. Research Process
    3. Assumptions
  3. Executive Summary
  4. Global Bubble Tea Market Regulations and Policy
  5. Global Bubble Tea Market Trends & Developments
  6. Global Bubble Tea Market Dynamics
    1. Drivers
    2. Challenges
  7. Global Bubble Tea Market Hotspots and Opportunities
  8. Global Bubble Tea Market Outlook, 2019-2030F
    1. Market Size & Analysis
      1. By Revenues (USD Million)
    2. Market Size & Analysis
      1. By Base Tea
        1. Black Tea - Market Size & Forecast 2019-2030, USD Million
        2. Green Tea- Market Size & Forecast 2019-2030, USD Million
        3. Oolong Tea- Market Size & Forecast 2019-2030, USD Million
        4. White Tea- Market Size & Forecast 2019-2030, USD Million
      2. By Flavor
        1. Fruit - Market Size & Forecast 2019-2030, USD Million
        2. Original- Market Size & Forecast 2019-2030, USD Million
        3. Coffee - Market Size & Forecast 2019-2030, USD Million
        4. Chocolate - Market Size & Forecast 2019-2030, USD Million
        5. Others - Market Size & Forecast 2019-2030, USD Million
      3. By Region
        1. North America
        2. South America
        3. Europe
        4. The Middle East & Africa
        5. Asia-Pacific
  9. North America Bubble Tea Market Outlook, 2019-2030F
    1. Market Size & Analysis
      1. By Revenues (USD Million)
    2. Market Share & Analysis
      1. By Base Tea- Market Size & Forecast 2019-2030, USD Million
      2. By Flavor- Market Size & Forecast 2019-2030, USD Million
      3. By Country
        1. The US
        2. Canada
        3. Mexico
    3. The US Bubble Tea Market Outlook, 2019-2030F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
      2. Market Share & Analysis
        1. By Base Tea- Market Size & Forecast 2019-2030, USD Million
        2. By Flavor- Market Size & Forecast 2019-2030, USD Million
    4. Canada Bubble Tea Market Outlook, 2019-2030F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
      2. Market Share & Analysis
        1. By Base Tea- Market Size & Forecast 2019-2030, USD Million
        2. By Flavor- Market Size & Forecast 2019-2030, USD Million
    5. Mexico Bubble Tea Market Outlook, 2019-2030F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
      2. Market Share & Analysis
        1. By Base Tea- Market Size & Forecast 2019-2030, USD Million
        2. By Flavor- Market Size & Forecast 2019-2030, USD Million
  10. South America Bubble Tea Market Outlook, 2019-2030F
    1. Market Size & Analysis
      1. By Revenues (USD Million)
    2. Market Share & Analysis
      1. By Base Tea- Market Size & Forecast 2019-2030, USD Million
      2. By Flavor- Market Size & Forecast 2019-2030, USD Million
      3. By Country
        1. Brazil
        2. Argentina
        3. Rest of South America
    3. Brazil Bubble Tea Market Outlook, 2019-2030F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
      2. Market Share & Analysis
        1. By Base Tea- Market Size & Forecast 2019-2030, USD Million
        2. By Flavor- Market Size & Forecast 2019-2030, USD Million
    4. Argentina Bubble Tea Market Outlook, 2019-2030F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
      2. Market Share & Analysis
        1. By Base Tea- Market Size & Forecast 2019-2030, USD Million
        2. By Flavor- Market Size & Forecast 2019-2030, USD Million
  11. Europe Bubble Tea Market Outlook, 2019-2030F
    1. Market Size & Analysis
      1. By Revenues (USD Million)
    2. Market Share & Analysis
      1. By Base Tea- Market Size & Forecast 2019-2030, USD Million
      2. By Flavor- Market Size & Forecast 2019-2030, USD Million
      3. By Country
        1. Germany
        2. The UK
        3. France
        4. Italy
        5. Spain
        6. Rest of Europe
    3. Germany Bubble Tea Market Outlook, 2019-2030F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
      2. Market Share & Analysis
        1. By Base Tea- Market Size & Forecast 2019-2030, USD Million
        2. By Flavor- Market Size & Forecast 2019-2030, USD Million
    4. The UK Bubble Tea Market Outlook, 2019-2030F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
      2. Market Share & Analysis
        1. By Base Tea- Market Size & Forecast 2019-2030, USD Million
        2. By Flavor- Market Size & Forecast 2019-2030, USD Million
    5. France Bubble Tea Market Outlook, 2019-2030F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
      2. Market Share & Analysis
        1. By Base Tea- Market Size & Forecast 2019-2030, USD Million
        2. By Flavor- Market Size & Forecast 2019-2030, USD Million
    6. Italy Bubble Tea Market Outlook, 2019-2030F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
      2. Market Share & Analysis
        1. By Base Tea- Market Size & Forecast 2019-2030, USD Million
        2. By Flavor- Market Size & Forecast 2019-2030, USD Million
    7. Spain Bubble Tea Market Outlook, 2019-2030F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
      2. Market Share & Analysis
        1. By Base Tea- Market Size & Forecast 2019-2030, USD Million
        2. By Flavor- Market Size & Forecast 2019-2030, USD Million
  12. The Middle East and Africa Bubble Tea Market Outlook, 2019-2030F
    1. Market Size & Analysis
      1. By Revenues (USD Million)
    2. Market Share & Analysis
      1. By Base Tea- Market Size & Forecast 2019-2030, USD Million
      2. By Flavor- Market Size & Forecast 2019-2030, USD Million
      3. By Country
        1. Saudi Arabia
        2. The UAE
        3. South Africa
        4. Rest of Middle East and Asia
    3. Saudi Arabia Bubble Tea Market Outlook, 2019-2030F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
      2. Market Share & Analysis
        1. By Base Tea- Market Size & Forecast 2019-2030, USD Million
        2. By Flavor- Market Size & Forecast 2019-2030, USD Million
    4. The UAE Bubble Tea Market Outlook, 2019-2030F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
      2. Market Share & Analysis
        1. By Base Tea- Market Size & Forecast 2019-2030, USD Million
        2. By Flavor- Market Size & Forecast 2019-2030, USD Million
    5. South Africa Bubble Tea Market Outlook, 2019-2030F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
      2. Market Share & Analysis
        1. By Base Tea- Market Size & Forecast 2019-2030, USD Million
        2. By Flavor- Market Size & Forecast 2019-2030, USD Million
  13. Asia-Pacific Bubble Tea Market Outlook, 2019-2030F
    1. Market Size & Analysis
      1. By Revenues (USD Million)
    2. Market Share & Analysis
      1. By Base Tea- Market Size & Forecast 2019-2030, USD Million
      2. By Flavor- Market Size & Forecast 2019-2030, USD Million
      3. By Country
        1. China
        2. Japan
        3. Australia
        4. India
        5. South Korea
        6. Southeast Asia
        7. Taiwan
        8. Rest of Asia Pacific
    3. China Bubble Tea Market Outlook, 2019-2030F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
      2. Market Share & Analysis
        1. By Base Tea- Market Size & Forecast 2019-2030, USD Million
        2. By Flavor- Market Size & Forecast 2019-2030, USD Million
    4. Japan Bubble Tea Market Outlook, 2019-2030F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
      2. Market Share & Analysis
        1. By Base Tea- Market Size & Forecast 2019-2030, USD Million
        2. By Flavor- Market Size & Forecast 2019-2030, USD Million
    5. Australia Bubble Tea Market Outlook, 2019-2030F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
      2. Market Share & Analysis
        1. By Base Tea- Market Size & Forecast 2019-2030, USD Million
        2. By Flavor- Market Size & Forecast 2019-2030, USD Million
    6. India Bubble Tea Market Outlook, 2019-2030F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
      2. Market Share & Analysis
        1. By Base Tea- Market Size & Forecast 2019-2030, USD Million
        2. By Flavor- Market Size & Forecast 2019-2030, USD Million
    7. South Korea Bubble Tea Market Outlook, 2019-2030F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
      2. Market Share & Analysis
        1. By Base Tea- Market Size & Forecast 2019-2030, USD Million
        2. By Flavor- Market Size & Forecast 2019-2030, USD Million
    8. Southeast Asia Bubble Tea Market Outlook, 2019-2030F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
      2. Market Share & Analysis
        1. By Base Tea- Market Size & Forecast 2019-2030, USD Million
        2. By Flavor- Market Size & Forecast 2019-2030, USD Million
    9. Taiwan Pacific Bubble Tea Market Outlook, 2019-2030F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
      2. Market Share & Analysis
        1. By Base Tea- Market Size & Forecast 2019-2030, USD Million
        2. By Flavor- Market Size & Forecast 2019-2030, USD Million
  14. Global Bubble Tea Market Key Strategic Imperatives for Success & Growth
  15. Competitive Outlook
    1. Company Profiles 
      1. Kung Fu Tea
      2. Quickly
      3. Lollicup USA, Inc.
      4. Bubble Tea Supply, Inc.
      5. Ten Ren's Tea Time
      6. Gong Cha
      7. ChaTime
      8. Bobabox Ltd.
      9. Fokus, Inc.
      10. Coco Fresh Tea and Juice
      11. Happy Lemon
      12. Cuppotee
      13. Tiger Sugar
      14. Grand Chainly Enterprise
      15. Share Tea
  16. Disclaimer


Bubble Tea Market - Segmentation Slide