Global Bubble Tea Market Expected To Reach XX Million By 2025
According to a new report published by Reports Monitor titled, “Global Bubble Tea Market,” the global bubble tea market was valued at XX million in 2018, and is projected to reach at XX million by 2025, growing at a CAGR of XX% from 2018 to 2025.
Bubble tea is also known as pearl milk tea, boba juice, bubble milk tea and boba tea. It was invented in Taichung and Tainan in the 1980s. There are many varieties of the tea beverage with a wide range of ingredients such as mango, coconut, tarco, peach, and others. Bubble teas are commonly of two distinct types. These are milk teas and fruit-flavored teas. Some shops offer hybrid fruit milk teas as well. Variety of flavors are available in fruit-flavored bubble tea such as mango, lychee, strawberry, honeydew and green apple.
First popular bubble tea was jasmine-infused green tea rather than black tea. Plum and peach flavoring tea varieties later became popular, followed by other additional fruit flavors. Lately the fruit flavors gained popularity to great extent. The variants sometimes contain colored pearls in order to match the fruit juice flavor used. Flavors could be added in the form of powder, pulp, juice or syrup to hot black or green tea. Flavors could also be mixed with ice in a blender for smoothies. Fruit purees which can be natural or sweetened, flavored syrups and fresh fruits are added to the base tea to form smoothies, milkshakes and ready-to-mix bubble tea products are quite popular among youth.
Bubble tea is in vogue among youth and widely consumed as a substitute of green tea. The rising consumption of bubble tea owing to its health related benefits has boosted the market growth. Easy availability and low prices have enforced the consumers to buy more bubble tea as compared to normal tea types. However, the inclusion of artificial preservatives, color, food flavors and presence of excess sugar in bubble tea is hampering the tea market growth. Introduction of new flavors and variants according to the global consumer tastes and fall in demand for carbonated drinks may provide growth opportunities for market. It has nominal toxic effect to humans by oral, ocular, dermal, or inhalation exposure, which restrains the growth of global market in near future.
The market can be bifurcated on the basis of product which includes black tea, green tea, oolong tea, white tea, and others.
Furthermore, bubble tea market is segmented on the basis of milk type such as dairy milk and non-dairy milk.
The global bubble tea market is divided on regional basis into North America, Europe, Asia-Pacific (APAC), Middle East & Africa (MEA), and Latin America. Asia-Pacific has dominance in the market followed by Europe. North America has prominent share in market including countries such as USA followed by Canada and Mexico. Europe shares the same potential, including countries like Germany, France, U.K., and Italy. APAC has the significant market share in the global bubble tea market due major consumption of tea amongst all beverages. LAMEA region have considerable share in the market and is expected to grow in countries like Brazil, Turkey, and rest of the regions.
The major market leaders in this market are Sumo's (M) Sdn Bhd, CuppoTee Company, Ten Ren's Tea, Gongcha, Bubble Tea House Company, Bubblelicious Tea, Lollicup USA Inc.
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