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Bubble Tea Market is estimated to be US$ 5.33 billion by 2030 with a CAGR of 7.8% - BY PMI

Bubble Tea Market - PMI

Bubble Tea Market - PMI

The report “Bubble Tea Market, By Ingredient, By Flavor, By Component - Trends, Analysis and Forecast till 2030’’

COVINA, CALIFORNIA, UNITED STATES, April 5, 2023 / -- According to the latest research study, the demand of Bubble Tea Market accounted for US$ 2.54 billion in 2020 and is estimated to be US$ 5.33 billion by 2030 and is anticipated to register a CAGR of 7.8%.

Bubble tea, also known as boba tea, is a popular Taiwanese beverage that originated in the 1980s. It is a tea-based drink that is typically mixed with milk or fruit juice and contains chewy tapioca balls, also known as "boba." Bubble tea can be served hot or cold and comes in a variety of flavors, including traditional milk tea, fruit tea, and matcha. The popularity of bubble tea has grown significantly in recent years, not only in Asia but also in other parts of the world. This is due in part to its unique taste and texture, as well as its colorful and visually appealing appearance. The market for bubble tea is expected to continue to grow as more consumers become aware of this trendy beverage.

Bubble tea is sold in specialty shops and cafes, as well as in restaurants and food courts. In addition to the traditional tapioca balls, bubble tea can also include other toppings such as fruit jelly, aloe vera, and popping boba. The versatility of bubble tea allows for endless flavor combinations and customization options, making it a popular choice among consumers. The bubble tea market is highly competitive, with both local and international players vying for a share of the market. Major players in the market include Koi Thé, Gong Cha, and Chatime. The market is expected to continue to grow, driven by factors such as changing consumer preferences, increasing disposable income, and the introduction of new flavors and toppings.

Report Metrics:
Report Attribute - Details
Market Size - US$ 2.54 billion
CAGR – 7.8%
Base Year - 2020
Forecast Period – 2020 - 2030

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Key Highlights:

• In January 2022, Tis the season for bubble tea addicts to be jolly! As Chinese New Year approaches, new exciting festive themed bubble teas will inevitably start popping out everywhere. Right on cue, eight bubble tea establishments in Singapore have launched new drinks.
• In October 2021, Del Monte Foods announces the launch of their newest innovation, Joyba™ Bubble Tea, available now in select markets. Made with real brewed fruit flavored tea and popping boba, Joyba brings the bubble tea experience to stores for consumers to be able to enjoy anytime, anywhere.

Analyst View:

Due to its growing popularity, bubble tea has been gaining traction in new markets. Furthermore, rising consumer awareness of health benefits and adoption of healthy beverages such as green tea, black tea, oolong tea, and white tea are driving market expansion. Furthermore, the expansion of the bubble tea market is fueled by an increase in the consumption of flavoured bubble tea among the younger population. Furthermore, intense advertising and celebrity endorsements have aided the global market's rise. However, the high sugar content of these drinks, which can cause health problems, and the rising popularity of coffee are projected to limit market expansion. Furthermore, because bubble tea contains chemical preservatives, customers are shifting their preferences toward organic beverages, putting a strain on the industry.

Key Market Insights from the report:

Bubble Tea Market accounted for US$ 2.54 billion in 2020 and is estimated to be US$ 5.33 billion by 2030 and is anticipated to register a CAGR of 7.8%.

Global Bubble Tea is segmented into Ingredient, Flavor, Component and region.
• Based on Ingredient, the Global Bubble Tea Market is segmented into Alcoholic and Non-Alcoholic.
• Based on Flavor, the Global Bubble Tea Market is segmented into Non-organic, Organic, and Natural.
• Based on Component, the Global Bubble Tea Market is segmented into Teenagers, Adults, and Geriatric Population.
• By Region, the Global Bubble Tea Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

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Competitive Analysis:

The key players in the global Bubble Tea 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., and Fokus Inc.

The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.

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Drivers and Restrains of Bubble Tea Market:

For companies and organisations looking to comprehend their clients, rivals, and the larger market, market research is a crucial instrument. Nonetheless, the market research sector is vulnerable to a variety of factors and restraints that can have an impact on its growth and development, just like any other business.

• Increasing popularity of tea-based beverages among consumers due to the health benefits associated with tea.
• Growing trend of customization and personalization in food and beverage industry, allowing customers to create their own unique drinks.
• Expansion of bubble tea chains and franchises globally, creating more availability and accessibility of bubble tea to consumers.
• Innovation and introduction of new flavors, ingredients, and combinations to keep up with changing consumer preferences.
• Rising disposable income and urbanization, leading to increased spending on non-alcoholic beverages like bubble tea.

• Health concerns related to high sugar content in bubble tea, leading to potential negative effects on consumer health and wellness.
• Limited shelf life of bubble tea, which can lead to waste and spoilage if not sold quickly.
• Dependence on key raw materials like tapioca pearls and tea leaves, which can be affected by climate and environmental factors.
• Intense competition in the bubble tea market, making it difficult for new entrants to gain market share.
• Potential for oversaturation of the market, leading to a decrease in demand and profitability.

Key Reasons to Purchase:

There are several key reasons why one might consider purchasing a report on the Bubble Tea Market. These include:
1. Comprehensive Market Analysis: The report provides a comprehensive analysis of the Bubble Tea Market, including market size, growth potential, trends, and challenges.
2. Detailed Industry Insights: The report provides detailed insights into the Bubble Tea industry, including market dynamics, drivers, and restraints.
3. Competitive Landscape: The report provides a detailed analysis of the competitive landscape of the Bubble Tea Market, including key players, market share, and strategies.
4. Regional Analysis: The report provides a detailed analysis of the Bubble Tea Market by region, including market size, growth potential, and trends.
5. Market Segmentation: The report provides a detailed segmentation of the Bubble Tea Market based on product type, distribution channel, and region.
6. Future Outlook: The report provides a detailed outlook on the future of the Bubble Tea Market, including growth opportunities, challenges, and trends.
7. Data and Analytics: The report provides data and analytics on the Bubble Tea Market, including market size, growth rates, and market share.
8. Strategic Insights: The report provides strategic insights for industry participants, investors, and other stakeholders, including growth strategies, mergers and acquisitions, and product innovations.
9. Customization: The report can be customized to meet the specific requirements of clients, providing tailored insights and analysis.
10. Expertise: The report is prepared by industry experts with extensive knowledge and experience in the Bubble Tea Market, providing valuable insights and recommendations for stakeholders.

For people who want to learn more about a topic, industry, or market and who appreciate the knowledge and expertise offered by a thorough, well-researched paper, purchasing a report may generally be a reasonable investment.

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