The players in the bubble tea market have adopted acquisition as their key development strategy to increase profitability and improve their position in the bubble tea market. However, the green tea segment is expected to grow at the highest CAGR throughout the forecast period, owing to growth innumber of health conscious consumers worldwide. This can be attributed to rise in the popularity of bubble tea with black tea as a base ingredient across the globe. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.Īccording to the bubble tea market analysis, based on base ingredient,the black tea segment generated maximum revenue in 2019 and is expected to continue this trend throughout the forecast period. By component, it is classified into flavor, creamer, sweetener, liquid, tapioca pearls, and others. On the basis of flavor, it is categorized into original flavor, coffee flavor, fruit flavor, chocolate flavor, and others. By base ingredient, it is divided into black tea, green tea, oolong tea, and white tea. The bubble tea market has been segmented on the basis of on base ingredient, flavors, component, and region. On the contrary, introduction of various new flavors and blends and high demand among young population for a variety of teas are expected to provide lucrative opportunities for the market expansion. In addition, due to the presence of artificial preservatives in bubble tea, consumers are changing their preference toward organic beverages, which hampers the growth of the global bubble tea market. However, excess sugar content in these drinks leading to health issues and trend of coffee consumption are expected to restrict the market growth. In addition, aggressive advertisements and celebrity end orsements have also helped the global market to pave its way toward growth. Moreover, rise in consumption of flavored bubble tea in young generation fuels thebubble tea market growth. The adoption of bubble tea has been quite high in mature regions such as the U.S., Canada, and Germany while emerging countries such as China, Brazil, and India are catching up quickly.īubble tea has been gaining traction in emerging markets, owing to rise in its popularity.Furthermore, growth in health consciousness and increase in adoption of healthy beverages such as green tea, black tea, oolong tea, and white tea among consumers drive the market growth. The two most popular varieties are bubble milk tea with tapioca and bubble milk green tea with tapioca. There are many varieties of the drink with a wide range of ingredients. Ice-blended versions are usually mixed with fruit or syrup, resulting in a slushy consistency. Most bubble tea recipes contain a tea base mixed with fruit or milk, to which chewy tapioca balls (known as bubbles, pearls, or boba) and fruit jelly are often added. In 2019, the black tea segment accounted for more than half of the share in the total bubble tea market and is expected to grow at a CAGR of 7.50% throughout the forecast period.īubble tea (also known as pearl milk tea, bubble milk tea, boba juice, boba tea, or simply boba) is a Taiwanese tea-based drink invented in Tainan and Taichung in the 1980s. The bubble tea market was valued at $2.4 billion in 2019 and is estimated to reach $4.3 billion by 2027, registering a CAGR of 7.80% from 2020 to 2027.
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