Bubble Tea Market Is Slated To Increase At A High CAGR Of 7.70% By 2029

Date

8/25/2022 3:47:12 AM

(MENAFN- EIN Presswire)

Global Bubble Tea Market

The Future of Bubble Tea & Insights on Who's Leading the Industry

PUNE, MAHARASHTRA, INDIA, August 25, 2022 /EINPresswire.com / -- As per detailed industry analysis by Persistence market Research, the global bubble tea is slated to surge ahead at a CAGR of 7.70% to reach USD 596.79 million by the end of 2029.

Influencers and bloggers have been helpful in reawakening consumer interest in the bubble tea trend. Bubble tea sales are influenced by the speed at which information goes about, its promotion, and brand visibility. Brands are seeking new strategies that can be used to create an engaging experience, especially since bubble tea is a beverage that can be made with a variety of appeals, flavors, and textures.

Some ingredients are perceived as more prevalent than others in society because they engage more of the senses. The colors of turmeric, matcha, and activated charcoal, for example, draw the attention of customers toward their health benefits

Social media influences one out of every five consumers in China and India to buy food & beverages. In Malaysia and Indonesia, social media influences 58% of consumers' purchasing decisions. For business owners, social media is critical in contacting customers across demographics and determining how to expand appropriately.

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At the same time, it's important to remember that, social media can be a dangerous ground to rely on when building a brand. Online news, criticisms, and reviews can spread quickly. As a result, it's critical to ensure that each post is thoughtfully prepared and that the messaging is always relevant to the business. Bubble tea franchises are owned and operated by young, well-educated, social media-savvy entrepreneurs looking for new business prospects.

Key Takeaways from Market Study

The market for bubble tea is expected to expand at volume CAGRs of 9.3% and 8.6% in South Asia and East Asia, respectively, through 2032.
On the basis of base ingredient, black tea holds an approximate volume share of 38.6% in 2022.
Global consumption of bubble tea is estimated to reach 475,501 tons by the end of 2032.
Based on flavor, demand for flavored bubble tea in Latin America is expected to be valued US$ 83.6 Mn in 2022.
On the basis of distribution channel, the business to consumer segment is anticipated to expand at a volume CAGR of 7.70% to reach 13,997 tons by 2029
Value of the bubble tea market in North America is currently US$ 307.1 Mn.

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Key Companies & Market Share Insights

Bobabox Ltd.
Bubble Tea House Company
Fokus, Inc.
Gong Cha
ChaTime
Lollicup USA, Inc.
Bubble Tea Supply, Inc.
T Bun International
Ten Ren's Tea Time
Troika JC

Global Bubble Tea Market Share, By Base Ingredients (in US$ Million)

Black Tea

Green Tea

Oolong Tea

White Tea

Breakup by Flavor:

Original Flavor
Coffee Flavor
Fruit Flavor
Chocolate Flavor
Others

Breakup by Component:

Flavor
Creamer
Sweetener
Liquid
Tapioca Pearls
Others

Breakup by Region:

North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Thailand
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Netherlands
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa

A Bright Future for Bubble Tea

To say bubble tea is trending in the beverage industry is almost not enough. The craze is catching on like wildfire. Many companies are pioneering delicious bubble tea drinks across an extensive market, and they're even penetrating the food industry. Whether you prefer to call it bubble tea or boba, the drink continues to thrill customers and their taste buds, and it's a opportunity for many entrepreneurs and businesses across the tea industry.

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Bubble Tea Market Dynamics

This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:

Consumption of Tea

The increase in the consumption of tea and coffee as nootropic drinks among students and working-class population acts as one of the major factors driving the growth of bubble tea market. The high consumption of tea among population who have busy working lifestyle as it is easy to prepare assist in the growth of market.

Prevalence of Cardiovascular Diseases

The rise in the prevalence of cardiovascular diseases, diabetes, and oral bacteria, accelerate the market growth. The tea is known for reducing the occurrences of these diseases.

Health Consciousness

The rise in the health consciousness among population further influences the market. The consumption of bubble tea is known to strengthen immune system, decline inflammation, boost energy and enhance cardiovascular health.

Additionally, change in lifestyle, increase in the disposable income and rise in awareness regarding the benefits of the beverage positively affect the bubble tea market.

Opportunities

Furthermore, various product innovations, such as the launch of bubble teas in exotic flavors extend profitable opportunities to the market players in the forecast period of 2022 to 2029. Also, aesthetically appealing packaging will further expand the market.