Global Bubble Tea Market Report and Forecast 2024-2032

Global Bubble Tea Market Outlook

The global bubble tea market size reached a value of approximately USD 3 billion in 2023. The market is further expected to grow at a CAGR of 7.50% between 2024 and 2032, to reach a value of around USD 5.73 billion by 2032.

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The growing popularity of specialty teas among students and working-class people is increasing bubble tea market growth. Furthermore, the increasing popularity and availability of zero fat and low-calorie versions of such beverages are key bubble tea trends that are surging the demand for bubble tea. The growing acceptance of various hot beverages is also anticipated to increase demand for bubble tea and expand the bubble tea market share. The bubble tea industry is also being driven by low prices and a consistent movement in consumers taste from traditional to flavoured teas.

Leading firms in the market are also concentrating on launching new products in order to gain bubble tea revenue. Kids and teenagers alike are enjoying diversity of flavours, optional extras, and unique combinations that bubble teas have to offer. According to bubble tea popularity statistics there has been a spike in interest towards bubble teas due to social media. The global market for bubble tea has enormous potential as consumers increasingly choose this type of beverage over carbonated beverages.

Bubble Tea Market Overview

The global bubble tea market is expected to witness a heathy growth in the forecast period aided by its increasing penetration across the globe. As per the bubble tea market report, the Asia Pacific is the leading regional market for bubble tea. Within Asia, countries like China, South Korea, the Philippines, and Singapore are the major markets for the beverage. The market for bubble teas is also growing in Asian countries like Malaysia and Vietnam.

The overall increase in tea production and consumption is expected to aid the growth of the bubble tea market, according to the bubble tea market analysis. The consumption of tea is also projected to grow globally, especially in the countries where the drink is traditionally produced. As per bubble tea consumption statistics, black tea consumption is expected to witness a robust growth. With increasing preference for innovative and healthier forms of the beverage growing across the globe, the bubble tea market is expected to witness a healthy growth in the coming years. In mature tea markets like the Europe, the bubble tea market UK is likely to witness growth in the coming years, supported by innovations and consumer willingness to experiment with new forms of teas.

Meanwhile, in North America, the growing trend of experimenting with new beverages is supporting the bubble tea market in USA. The surging popularity of bubble teas on social media and expansion of new bubble tea cafes is driving the US bubble tea market. The popularity of bubble teas in the United States is likely to extend to the bubble tea market in Canada which is expected to witness growth supported by the rising consumption of all varieties of tea.

Bubble Tea Market Segmentation

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Bubble tea, also known as pearl milk tea, bubble milk tea, boba tea, or boba juice, is a popular beverage made with the basic ingredient of tea to which chewy tapioca seeds are added. It can be made in various combinations by adding fruit jellies and syrups. Flavours entirely vary according to the ingredients added to the bubble tea. It can be available in the original bubble tea flavour, fruit flavour, coffee or chocolate flavours, among others. The tea variety used as a base in the product can be:

• Black

• Green

• Oolong

• White

According to the bubble tea market research, green bubble tea is  a popular choice and represents an integral part of the global industry for bubble tea since the segment provides a range of wellness advantages including the prevention and reduction of health problems like cancer, cardiovascular diseases, and cholesterol. The variety also aids in improving metabolism and losing weight, along with, minimising the risk for type II diabetes, and Alzheimer and Parkinson’s disease.

The report also covers the regional markets of the product like North America, Europe, the Middle East, and Africa, the Asia Pacific, and LATAM.

Bubble Tea Market Analysis

The varieties of flavours and textures of bubble tea available are increasing the global bubble tea market size. With major players seeking to introduce more innovative forms of bubble tea, the market is further expected to grow. The rapidly growing urbanisation is further aiding the bubble tea industry growth. As more and more countries are now offering this tea, which is adding to its rising demand, the market is being further propelled forward. The increasing affordability of various flavours and types of bubble teas is one of the key bubble tea market trends due to its cost-effectiveness.

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Consumers seeking healthier and organic products, and higher penetration of bubble teas along with expansion of its markets to newer regions is aiding the bubble tea industry growth. With people moving away from carbonated drinks and sugary beverages, the global bubble tea industry is expected to be further propelled forward as it is perceived as a healthier option. The claimed health benefits of bubble tea include improved immune systems, heart health, improved energy level, and prevention of cancer. It is also being preferred over carbonated drinks due to its antioxidant content.

Competitive Landscape

The report gives a detailed analysis of the following key players in the global bubble tea market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

• Dama Foods International Co., Ltd

• Lollicup USA Inc.

• Fokus Inc.

• Cuppo Tee Company Limited

• Sumo's (M) Sdn Bhd

• Huey-Yuhe Enterprise Co., Ltd.

• Boba Box Limited

• Zacely Limited (Bubble Tea House Company)

• CAFÉ POS, LLC

• Kevito Ltd.

• Qbubble Troika J C Inc.

• KOI Thé CO,LTD.

• CoCo Fresh Tea & Juice.

• SHARETEA

• Tiger Sugar

• Yummy-Town USA LLC

• Ichibanya Co., Ltd.

• Biju Bubble Tea

• Others

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.

Key Highlights of the Report