Bubble Tea Market Is Expected to Reach $4.3 Billion by 2027

Low price of bubble tea, health benefits associated with it, and expanding retail market drive the growth of the global bubble tea market. By base ingredient, the black tea segment has garnered the largest share in 2020. By region, on the other hand, Europe would register the fastest CAGR of 8.7% by 2027.

According to the report published by Allied Market Research, the bubble tea market was pegged at $2.4 billion in 2019 and is estimated to hit $4.3 billion by 2027, registering a CAGR of 7.8% from 2020 to 2027. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and changing market trends.

Low price of bubble tea, health benefits associated with it, and expanding retail market drive the growth of the global bubble tea market. On the other hand, addition of artificial preservatives & color in bubble tea and rise in consumption of coffee curtail down the growth to some extent. However, introduction of new flavors and decrease in demand for carbonated drinks are expected to create new opportunities in the industry.

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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 has contributed to more than two-fifths of the global bubble tea market share in 2020, and is expected to rule the roost by 2027. The green tea segment, on the other hand, would manifest the fastest CAGR of 8.2% till 2027. The oolong tea and white tea segments are also evaluated in the market report.

Based on flavor, the fruit flavor segment has accounted for more than three-fifths of the global bubble tea market revenue in 2020, and is anticipated to lead the trail by the end of 2027. Simultaneously, the chocolate flavor segment would portray the fastest CAGR of 8.4% from 2020 to 2027. The other segments analyzed in the report take in original flavor and coffee flavor.

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Based on geography, North America hasheld the major share in 2020, generating more than half of the global bubble tea market. At the same time, Europe would grow at the fastest CAGR of 8.7% throughout the forecast period. The other regions discussed in the report include Asia-Pacific and LAMEA.

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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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

 

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