Bubble Tea Market Size Was Estimated At $2.1 Billion In 2020 | CAGR 6.8% - Industryarc

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Rising Awareness on health Benefits of Consuming Oolong Tea is Boosting the market Growth

HYDERABAD, TELANGANA, INDIA, August 26, 2022 /EINPresswire.com / -- IndustryARC, in its latest report, predicts Bubble Tea Market size was estimated at $2.1 billion in 2020, projected to increase at a CAGR of 6.8% during the forecast period 2021-2026. Apart from the variety of flavors available, one of the primary elements fueling the expansion of bubble tea industry is the health benefits.The report offers a complete analysis of the market, its major segments, growth factors, trends, drivers and challengers, key players and more.

Key Takeaways:

1. The global bubble tea industry is being driven by a growing fitness and health concerned population, as well as an increase in the number of tea drinkers.

2. Furthermore, low prices and a steady shift in tea drinkers' preferences from conventional to flavored teas are propelling the bubble tea business.

3. To increase their market share, major corporations around the world provide a variety of boba tastes. Boba Box Limited, a UK-based boba maker, sells mini boba in a variety of flavors, including blueberry, cherry, green apple, lemon, passion fruit, peach, raspberry, and more.

4. However, the availability of substitute drinks like coffee, as well as the negative consequences of excessive tea intake and the addition of artificial colors to bubble tea, are some of the issues that are limiting market expansion.

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Segmental Analysis:

1. Bubble Tea Market is segmented into Oolong Tea, Green Tea, Black Tea, White Tea, Black Tea, and Others. Black Tea segment is accounted for the largest revenue market share in 2020 owing to its rich aroma, and the true natural flavor of black tea is credited with its expansion.

2. Asia-Pacific Bubble Tea Market accounted for 38% of total sales. Asia-Pacific is expected to lead the bubble tea market owing to its high production and consumption of various types of tea, including oolong tea, black tea, and green tea.

3. The expanding demand for coffee as a healthy energy drink, coffee is expected to be the fastest-growing taste segment, with a CAGR of 7.4% from 2021 to 2026.

4. According to data published by the United States Food and Agriculture Organization (FAO), around 3.8 billion gallons of tea were consumed in the United States in 2016, with black tea accounting for 80% of consumption, followed by green tea (16%), and oolong tea, white, and dark tea accounting for the remainder (4%). According to the United Nations' Food and Agricultural Organization, the United States is the world's fourth-largest importer of tea, drinking tea in about 80% of households.

Competitive Landscape:

The top 5 players in the Bubble Tea industry are -

1. Teapioca Lounge

2. OCOCO International Co., Ltd.,

3. Kung Fu Tea

4. Lollicup Coffee & Tea

5. Vivi Bubble Tea

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