According to a new report by EMR titled, ‘Global Bubble Tea Market Report and Forecast 2020-2025’, the global bubble tea market reached a value of almost USD 2.4 billion in 2019. The market is further expected to grow at a CAGR of 7.5% in the forecast period of 2020-2025 to attain USD 3.6 billion in 2025.
The global bubble tea market is being aided by the beverage’s ability to be customised according to the consumers’ wide taste palette. Bubble tea can be consumed hot or cold. The bubbles in bubble tea are basically small tapioca balls, which are chewy, making it different from regular tea. Its diverse offerings and its unique spin on the traditional preparation of tea is contributing to its popularity among the millennial consumers. The rapidly growing urbanisation and increasing disposable incomes of consumers are expected to further propel the market forward. Major companies like Starbucks (NASDAQ: SBUX) and McDonald’s (NYSE: MCD) are also major contributors for the market growth as they have introduced bubble tea in their menus to attract consumers.
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Taiwan, where the tea was discovered, is a significant producer of bubble tea. China too is a major bubble tea market, having a vast tea drinking population. The overall Asia Pacific region is one of the leading markets for bubble tea. South Korea, Hong Kong, the Philippines and Singapore are the other major markets within the region. Japan, Vietnam, and Malaysia are emerging as other lucrative markets within the Asia Pacific region. Currently, the market is growing rapidly in western countries like the US and the UK, where it is viewed as an innovative alternative to carbonated drinks.
Market Analysis by Type:
Bubble tea is usually available in four types, namely black, green, oolong and white bubble tea.
Market Analysis by Flavour:
The flavours can vary from original to fruit, coffee, and chocolate flavours, among others.
Market Analysis by Region:
Middle East and Africa
The major regional markets for bubble tea are North America, Europe, Asia Pacific, LATAM, and Middle East and Africa.
Key Findings of The Report:
The wide range of varieties and flavours that are available in the bubble tea market is driving the industry growth.
The cost-effectiveness of the product is further driving the bubble tea industry.
The market is being driven by the perceived health benefits of the beverage.
The market is also finding further impetus in the growing younger population, especially, in the emerging economies.
Key Offerings of the Report:
The EMR report provides an overview of the global bubble tea market for the periods (2015-2019) and (2020-2025).
The report also offers the historical (2015-2019) and forecasted (2020-2025) markets for the types, flavours, and regional markets of bubble tea.
It gives an in-depth look into the regional price trends in the global bubble tea market for the periods (2015-2019) and (2020-2025).
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Competitive Landscape & Supplier Analysis:
Dama Foods International Co., Ltd
Lollicup USA Inc.
Fokus Inc.(NASDAQ: EFOI)
Cuppo Tee Company Limited
Sumo’s (M) Sdn Bhd
Huey-Yuhe Enterprise Co., Ltd.
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