Low price of bubble tea, health benefits associated with it, and expanding retail market drive the growth of the global bubble tea market.

PORTLAND, OR, UNITED STATES, August 11, 2021 /EINPresswire.com/ -- Bubble Tea Market by Base Ingredient (Black Tea, Green Tea, Oolong Tea, and White Tea), Flavor (Original Flavor, Coffee Flavor, Fruit Flavor, Chocolate Flavor, and Others), and Component (Flavor, Creamer, Sweetener, Liquid, Tapioca Pearls, and Others): Global Opportunity Analysis and Industry Forecast, 2020–2027." According to the report, the global bubble tea market generated $2.4 billion in 2019, and is expected to reach $4.3 billion by 2027, growing at a CAGR of 7.8% from 2020 to 2027.

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.

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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.

COVID-19 scenario-
• Complete lockdown hits the global tea industry quite badly. And, this operational issue is proven to be a serious challenge for the industry.
• Also, some bubble tea shops like BobaJoy are not allowed to resume their business until the pandemic situation comes under control. However, the online sale of the product will continue to be allowed, provided it caters to all the mandatory norms issued to an F&B (Food & Beverage) establishment.

Based on base ingredient, the black tea segment accounted for the largest market share in 2020, holding more than two-fifths of the global bubble tea market, and is estimated to maintain its lead status throughout the forecast period. This is attributed to surge in awareness and health benefits including prevention of chronic diseases such as obesity, diabetes, cardiovascular disease, and cancer. However, the green tea segment is estimated to maintain the highest CAGR of 8.2% from 2020 to 2027, owing to increase in number of fitness conscious consumers across the globe.

Based on flavor, the fruit flavor segment accounted for more than three-fifths of the global bubble tea market in 2020, and is projected to continue to dominate during the forecast period. This is due to surge in number of vegan people and health consciousness consumers across the globe. However, the chocolate flavor segment would grow at the fastest CAGR of 8.4% from 2020 to 2027, owing to its ability to offer combined health benefits of both chocolate and bubble tea.

Based on region, North America accounted for more than half of the global bubble tea market in 2020, and is estimated to maintain its dominant position by 2027. This is attributed to rise in number of tea and coffee consumers in the region. However, Europe is estimated to maintain the highest CAGR of 8.7% from 2020 to 2027, owing to surge in tourism activities, health consciousness among young population, and prominence of the bubble tea in the region.

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The leading market players analyzed in the global bubble tea market report include Share Tea, Fanale Drinks, ChaTime, CoCo Fresh, Huey-Yuhe Enterprise, Quickly, Kung Fu Tea, BobaLoca, Bubble Tea Supply Inc., Happylemon, T Bun International, and Grand Chainly. These market players have adopted different strategies including partnership, expansion, collaboration, joint ventures, and others to reinforce their stand in the industry.

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David Correa
Allied Analytics LLP
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