6. Directly accessible data for 170 industries from 50 countries and over 1 million facts: Get quick analyses with our professional research service. 12. The global bubble tea market size was valued at USD 2.29 billion in 2022 and is projected to grow from USD 2.46 billion in 2023 to USD 4.08 billion by 2030, exhibiting a CAGR of 7.51% during the forecast period. Arlina Arshad. Asia Pacific Bubble Tea Market Size, 2022 (USD Billion), To get more information on the regional analysis of this market, Request a Free sample. This file photo shows a group of girls drinking bubble tea. 87% of American millennials drink tea, including bubble tea. Here is the history of bubble tea in Singapore. Other players operating in the market are Boba Box Limited, Fokus Inc., Sumos Sdn Bhd, Troika J.C. (Qbubble), and Boba Tea Company. I hope you learned something from it, even if it was that you should lay off the bubble tea because really, you probably have had enough of that stuff by now. . 4. Of the 30 countries that enjoy bubble tea, most are in Asia. Tapioca balls or "pearls" are often added to the concoction as well. Vietnam is ranked third with US$362 million, with Singapore fourth atUS$342 million. Bubble tea typically sells for about $3 to $5 for a 16- to 20-ounce serving. Currently, the major bubble tea chains are Koi and Gong Cha. Were guessing you already know what bubble tea is. Nielsen. To use individual functions (e.g., mark statistics as favourites, set To use individual functions (e.g., mark statistics as favourites, set Yet, few players have managed continuous profitability at a large scale.. This can be attributed to change in preference of consumers toward healthy beverages and better taste. The bubble tea industry is enormous and accounts for one of the fastest-growing food markets in the world today. The report was very accurate and as per my requirements. Junction. However, the study found that despite the high margins, few bubble tea stores are profitable. Chart. Due to the COVID-19 pandemic, the global Bubble Tea market size is estimated to be worth USD 8062.1 million in 2023 and is forecast to a readjusted size of USD 27780 million by 2030 with a CAGR of . Whats your favorite bubble tea base to start with? In-depth analysis and the bubble tea market size and segmentation assists in determining the prevailing bubble tea market opportunities. According to the bubble tea market share, based onflavor, the fruit flavor segment was the most prominent segment accounting for the highest share in the bubble tea market, in 2019. What are the key factors driving the market? Retrieved from http://chunshuitang.com.tw/3. Companies in the Industry are Aggressively Expanding their Franchisees to Cater to the Growing Demand. This has led to transportation delays and the functioning of both supplies (tea estates) and demand for consumption points to a standstill due to a shortage of manpower and reduced visits of customers to coffee shops amidst the lockdown. According to the study, there are three underlying fundamentals to building a successful bubble tea business. Bubble Tea Popularity Statistics Singapore DOWNLOAD: https://tinurll.com/2iwiym bubble tea popularity statistics singapore 28d79c4b43 Reallusion CrazyTalk Animator 3.12.1719.1 MAC OS X Download Harry Potter ATOTP Apun KaGames exe Oceane Dreams Sets 14 18 MediaHuman YouTube Downloader 3.9.8.19 (0901) [artc Like Repost Share Learn more about how Statista can support your business. The consumption of bubble tea also improves the balance of vitamins and minerals in the human body due to the presence of various inclusions such as yogurt, cream, fruit bits, and others. Your email address will not be published. The size of the global Bubble Tea Market in 2019 was $2,407.6 million. However, the chocolate flavor segment is expected to witness highest growth, owing to increase in its popularity of in all age groups for all flavored beverages and rise in awareness of health benefits of chocolate among consumers. Bubble 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. Prices are higher than previously, reaching as much as S$6 per cup as compared to S$3 in the past.12 Nevertheless, bubble tea shops have attempted to sustain the popularity of the drink by continually developing new and unusual flavours, as well as engaging with customers through social media.Health concernsIn May 2011, it was found that two fruit juice brands from Taiwan used by some bubble tea outlets contained plasticisers that were harmful to health. Over of the bubble tea enjoyed around the world is fruit-flavored. Total Starbucks locations globally 2003-2022, U.S. beer market: leading domestic beer brands 2017, based on sales, Revenue and financial key figures of Coca-Cola 2010-2022, Research expert covering Singapore, Indonesia and Malaysia, Profit from additional features with an Employee Account. The data offered to us was exactly what we were looking for. Currently, you are using a shared account. As a Premium user you get access to the detailed source references and background information about this statistic. to incorporate the statistic into your presentation at any time. Theres a lot more to bubble tea than meets the eye, and weve discovered all of the reasons that its a global favorite. Because of the popularity and groundbreaking response from the customers, the businesses in this market typically franchise into different locations. Because of its proximity to Taiwan, where bubble tea was created, China quickly became a fan of the sweet beverage. The black tea segment is expected to be the leading segment in the global market. Bubble tea is known for its sweet taste. European countries are just starting to understand the bubble tea craze, and with new dessert products in the making, the only way for this industry to go is up. The Straits Times, p. 8. Ho, S. B. Sweeter than soda? Revenue of the cosmetic & beauty industry in the U.S. 2002-2022, Value of the leading global textile exporters in 2021, by country, Vegetable oils: global consumption 2013/14 to 2022/23, by oil type, Cocoa bean production worldwide 2020/2021-2022/2023, by country, World coffee per capita consumption: major consumer countries 2015, Cosmetics industry in the U.S. - statistics & facts, Research expert covering Singapore, Indonesia and Malaysia, Profit from additional features with an Employee Account. It should be no surprise then that sugar is a primary ingredient in the drink. Show publisher information The appearance of the finished drink is what led to its name. A popular version of bubble tea, known as Thai iced tea originated in Thailand in the 1800s, and when bubble tea was invented people began adding tapioca balls to it. The prevalence of lifestyle disorders such as obesity and diabetes associated with the hectic lifestyle of consumers has nudged them to shift toward healthy drinks, such as ginger tea and boba teas, due to their easy customization. Remarkable job and great efforts by your research team. "Important factors when considering a bubble tea purchase in Singapore in 2020." The bubble tea trend has continued to soar in its originating region, later gaining traction in other western countries, such as Canada and the U.K. There is also an industry saying that nine out of 10 bubble tea stores lose money, it added. Contact us, Last week, it was announced that Singapore will soon require food and beverage outlets to, Nutrition labels for drinks high in sugar, saturated fat to be rolled out in practical manner: MOH, HPB, Nutrition labels required by end 2023 for freshly prepared drinks that are higher in sugar, fat content. A file photo showing cups of bubble tea. This includes building a decent flagship product to get initial traction, achieving single-store profitability and scaling the model while maintaining the positive unit economics. That number increases when you go up in size to 469 calories and only gets worse as you add in more toppings or extra flavors. The key players alsorelyon product launch to improve their product portfolio and stay relevant in the global market.The key players profiled in thereport include Bobabox Limited, Bubble Tea House Company, Cuppotee, Fokus Inc., Gong Cha, Lollicup USA, Inc., Sumo's (M) SdnBhd, Ten Ren's Tea Time, The Bubble Tea Company, and Troika JC. I have feedback on this infopedia article: Bubble tea. Junction. A. Malina Malkani, a media spokesperson for the Academy of Nutrition and Dietetics in the United States (US) said that bubble tea is a high-calorie drink with little source of protein or fibre. Frustrated customers have to remember that the tapioca balls arent just an inexpensive filler; theyre an integral part of what makes bubble tea unique and fun. As a Premium user you get access to background information and details about the release of this statistic. There is also a wide selection of items that can be added to the tea; for instance, pearls, pudding and jelly. Customers also have the option of adjusting the drinks sugar level. According to a recent CLSA survey of consumers, 94% of those aged between 20 and 29 bought boba tea in the last three months, reported Bloomberg (June 24). The bubble tea industry has a good product gross margin of 60 per cent to 70 per cent, the release said. All Rights Reserved. How Much Is the Bubble Tea Industry Worth. Bubble tea can be found on every continent today, except for Antarctica, of course! This statistic is not included in your account. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA. An average, medium-sized serving of bubble tea has, on average, 335 calories. This was found in a study which provides analyses and insights into the business dynamics behind bubble tea. Apart from the U.S. and Asian countries, the trend of milk tea is also extensively growing amongst individuals residing in the Middle East and Africa. Since then, however, bubble tea has expanded across the rest of Asia, and there was a sudden explosion of popularity during 2018, particularly in Singapore. While bubble tea is enjoyed by people of all ages, it tends to be a global favorite among younger people. According to the CXOs, Europe is projected to register significant growth as compared to Asia-Pacific and North America due to rapid urbanization, rise in consumption of healthy beverages, and low price of bubble tea. The Straits Times, p. 4. Subject An Infographic Representation of Bubble Tea Market, To get information on various segments, share your queries with us. The market player positioning segment facilitates benchmarking and provides a clear understanding of the present position of the market players in the industry. The increase in bubble tea shops led to intense competition and price wars. The global Bubble Tea Market is expected to $4,368.6 million in 2027. Boba tea is creating a buzz among individuals worldwide, owing to its growing appeal and novelty. Some specialty shops have menus with smaller sizes and prices as low as $2 to $3 per serving. Fruit-flavored bubble teas account for the largest percentage of bubble tea consumed at 37%. Directly accessible data for 170 industries from 50 countries and over 1 million facts: Get quick analyses with our professional research service. Thanks for sticking with me in this huge post. With 38 grams per 16oz beverage, bubble tea should be enjoyed in moderation. To give some history, bubble tea which originated in Taichung, Taiwan was first introduced to Singapore in 1992. According to NCBI, healthy and natural ingredients such as green tea help in preventing weight gain and also in inducing weight loss when consumed regularly. New bubbly a hit with youth here. Due to increasing consumer demand, GrabFood now has close to 4,000 bubble tea outlets in their network, which is a 200 percent growth in outlets for the region. (1993, September 24). The specialty of milk tea is growing due to its ease of customization with various tea bases and toppings such as jellies, fruit bits, syrups, and tapioca balls. Available: https://www.statista.com/statistics/1066726/singapore-bubble-tea-outlets-by-chain/, Number of bubble tea outlets in Singapore in 2019, by brand, Available to download in PNG, PDF, XLS format, Leading black tea exporters worldwide 2021, Area harvested for tea in India 2010-2020, Production of tea in north India FY 2014-2022, Production volume of tea in south India FY 2014-2022, Production of tea in India FY 2021, by category, Tea production volume in India FY 2022, by grower size, Export value of tea and coffee from India FY 2011-2022, Indian tea exports value FY 2022, by destination country, Indian tea exports volume FY 2022, by destination country, Import value of tea in India FY 2014-2022, Import volume of tea into India FY 2014-2022, Wholesale Price Index of tea in India FY 2012-2022, Average price of tea in India FY 2022, by category, Retail price of tea India 2021, by major city, Consumption volume of tea in India FY 2015-2022, Total revenue of Hindustan Unilever 2013-2022, Tata Consumer Products' total revenue FY 2015-2022, Total revenue of McLeod Russel FY 2013-2022, Total revenue of Goodricke Group Ltd FY 2013-2022, Italy: ready-to-drink tea sales value 2016-2017, Ready to drink blended tea production volume in Japan 2013-2021, Tea market: value growth in the United Kingdom (UK) 2014, by category, Share of past-day tea consumers in Canada 2009-2020, Preferred time for bubble milk tea on weekdays in Vietnam 2019, by age group, Frequency of purchasing hot beverages for home consumption in France 2017, by type, Preferred time for bubble milk tea on weekends in Vietnam 2019, by age group, Bubble tea orders as share of daily orders on GrabFood Indonesia 2018, Tea sales value in the United Kingdom (UK) 2010-2014, Leading factors influencing bubble tea purchase Singapore 2020, Brazil: ready-to-drink tea production volume 2018-2021, Brazil: per capita consumption of ready-to-drink tea 2018-2021, Cost of one cup of bubble tea Singapore 2018, by major brand, Market share of tea and coffee drinks by distribution channel in Spain 2019, Tapioca and substitutes import volume to Japan 2016-2021, Find your information in our database containing over 20,000 reports.
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