Bubble Tea Market Size, Competitive Landscape and Market Forecast - 2029

SKU: DMFB1747 | Last Updated On: Sep 16 2022 | Available Formats

> Global Bubble Tea Market Expected to reach a high CAGR of 8.1% By 2029: DataM Intelligence

Global Bubble Tea Market is segmented By Component (Flavor, Creamer, Sweetener, Tapioca balls and popping balls, Others), By Base Ingredient (Black tea, Green tea, Others), By Distribution Channel (Online Distribution Channel, Offline Distribution Channel), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2022-2029

Bubble Tea Market Trends Demand Competitive Analysis

[150 Pages Report] The Global Bubble Tea Market is expected to grow at a CAGR of 8.1% during the forecasting period (2022-2029).

Metrics

Details

Market CAGR

8.1%

Segments Covered

 By Component, By Base Ingredient, By Distribution Channel and By Region

Report Insights Covered

Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other key insights.

Fastest Growing Region

Asia Pacific

Largest Market Share 

North America

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A Taiwanese tea-based drink created by Tainan and Taichung in the 80s is bubble tea (also known as pearl milk tea, bubble milk tea, boba juice, boba tea, boba tea, or just boba tea). The majority of bubble tea recettes have a tea base with fruit or milk which is commonly added to chewy tapioca balls and fruit jelly (called bubbles, pearls, or boba).

Market Dynamics:

Increasing individual health concerns, as well as different health advantages from bubble tea, are one of the main causes fueling the expansion of the world's market in the bubble tea sector, driven by changing lifestyles. Furthermore, children and adults increasingly draw on aromatized beverages, and producers increase product innovation to attract clients and widen their client base. Moreover, tea production rises in countries like China, India, and others because of the people's increase in demand as a base ingredient in bubble tea. Various varieties and flavors, such as fruit, green jasmine, and Schwarz tea, are available on the market. The fruit-flavored tea offers several varieties of fruity-flavored cream and a fruit-flavored drink. There are alternatives for black, green jasmine, green téa, and others in the lactose-intolerant populations. The availability of several kinds of boba tea offers additional choices for the customer. This technique contributes to attracting more consumers.

For instance, in Japan, sushi shop chain Sushiro has collaborated with popular Taiwanese bubble tea chain Sharetea to create a boba milk tea that comes with glowing pearls, served up on Sushiro’s conveyor belts. This new beverage was called “Hikaru golden bubble tea” and was launched on July 19, 2019.

However, due to the use of additional artificial preservatives & color and excess sugar in the bubble tea, it makes it unhealthy. Hence, hampering the growth of Bubble Tea.

Impact of COVID-19 on the Global Bubble Tea Industry:

The emergence of COVID-19 has obliged government organizations to strictly close restaurants, farms, and enterprises in order to preserve safety precautions and to achieve social distance. This has resulted in delays in transit and both the operation of supply (tea estates) and demand for consumption points being halted by lack of staff and fewer visitors to coffee shops in the middle of the day. The Indian Tea Association reports that tea costs, both because of the irruptive movement of cargo and the reduction in crop size, have increased by 25% to 40% on average.

Market Segmentation:

By Base Ingredient type, the global Bubble Tea Market is segmented into Black Tea, Green Tea, and others. Black tea retained the greatest share of the market, with a dominance during the predicted period, of over 45% in 2019. The true natural flavor of black tea is attributable to this development. In addition, this drink reduces blood sugar and harmful cholesterol levels and improves intestinal health. It also works as a great antioxidant source.

Based on Components, the market has been segmented into Flavor, Creamer, Sweetener, Liquid Tapioca, Pearls, Others. The segment Flavor holds the biggest market share in the projected term while the sweetener over the forecast period is calculated to have the highest CAGR. Due to the increasing need for sweet beverages worldwide, the demand for this category is fueling.

Geographical Penetration:

By geography, the global Bubble Tea Market is segmented into North America, Asia-Pacific (APAC), Europe, South America, and the Middle East and Africa (MEA).

The Asia Pacific region currently owns the biggest market share of more than 35% in the forecast period and is predicted to expand by a CAGR XX%. The greatest sales are anticipated for Vietnam and Taiwan. In order to attract consumers and strengthen their market position, several firms are opening new restaurants and cafés. In September 2020, for example, Chen Shucheng launches a new bubble tea business, Meme Xpress, in Singapore. In December 2019, the average consumption of bubble tea in Thailand was six cups per person per month in the ASEAN Post. Thailand was one of the biggest users.

Competitive Landscape:

Key players are adopting strategies such as investing in R&D, new product launches, expansion in distribution channels to stand out as strong competitors in the market. Global Bubble Tea is a competitive market with various global and regional players in the market. The major players include Bubble Tea House Company, Bobabox Limited, Cuppotee, and Fokus Inc. Other key players in the market include Gong Cha, Lollicup USA Inc., Sumo's (M) Sdn Bhd, Ten Ren's Tea Time, Troika JC.

  • In February 2019, Boba Box Limited introduced 14 new flavors in the European market. And are confident enough to attract a wide audience for the bubble tea market.
  • Chatime Malaysia Sdn Bhd started in January 2019 and it was planned to grow its presence aggressively into Singapore, the United States, India, and Saudi Arabia as part of its five-year expansion strategy.
  • Bubble Tea Supply Inc. announced in April 2020 the debut of bubble tea, with a range of tastes in Bubble Tea Club, including traditional milk, mango, green apples, lychees, Thai and fruity flavors of honeydew, and a range of 14 toppings.

Secret Recipe:

Overview:

Founded in 1997, Secret Recipe made its mark, renowned for its extensive range of fine-quality gourmet cakes. It has since evolved to become one of the fastest-growing lifestyle cakes and café chains in the region with over 380 café outlets to date.

Secret Recipe Cakes & Café’s concept can be found in prime urban locations and shopping malls in major cities in the region including Malaysia, Singapore, Indonesia, Thailand, Brunei, Maldives, and Bangladesh.

Product Portfolio:

  • Boba Milk Tea
  • Boba Caramel Milk Tea
  • Boba Brown Sugar Milk Tea
  • Boba Midnight Blue

Key Development:

  • In July 2019, Secret Recipe Brand introduced New Boba Series. There will be a total of (8) different flavors in the Boba series, which are: Boba Milk Tea, Boba Caramel Milk Tea, Boba Brown Sugar Milk Tea, Boba Brown Sugar with Milk, Boba Cham, Boba Kopi-C, Boba Midnight Blue, and also Boba Signature Fruit Tea.

Target Audience:

  • Equipment Suppliers/ Buyers
  • Service Providers/ Buyers
  • Industry Investors/Investment Bankers
  • Education & Research Institutes
  • Research Professionals
  • Emerging Companies
  • Manufacturers

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FAQ

What is the Bubble Tea Market growth?

The market is growing at a CAGR of 8.1%

What is Bubble Tea Market size in 2021?

The Bubble Tea Market size was valued at USD YY million in 2021

Who are the key players in Bubble Tea Market?

Gong Cha, Lollicup USA Inc., Sumo's (M) Sdn Bhd, Ten Ren's Tea Time, Troika JC

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