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NEW YORK, Nov. 7, 2024 /PRNewswire/ --
Report on how AI is redefining market landscape - The global
bubble tea market
size is estimated to grow by USD 1.29 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of
7.43%
during the forecast period. Rising accessibility and availability through organized retailing
is driving market growth,
with a trend towards
introduction of new flavors. However,
price volatility of raw materials
poses a challenge market players include Boba Box, Boba Tea Direct, BossenStore, Bubble Tea House Co., Bubble Tea Supply, Chen En Food Product Enterprise Co. Ltd., Empire Eagle Food Co. Ltd., Europe BoBoQ GmbH, Fanale Drinks, Fokus Inc., HUEY YUHE ENTERPRISE CO. LTD., Karat by Lollicup, Krishna Food India, Possmei International Co. Ltd., Sumos M Sdn Bhd., Sunnysyrup Food Co. Ltd., Sunwide Bubble Tea, Troika JC, and Yen Chuan International Co. Ltd..
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Technavio has announced its latest market research report titled Global bubble tea market 2024-2028
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| Forecast period |
2024-2028 |
| Base Year |
2023 |
| Historic Data |
2017 - 2021 |
| Segment Covered |
Product (Black tea, Green tea, and Others), Flavor (Fruit flavor, Chocolate flavor, Coffee Flavor, and Others), and Geography (APAC, Europe, North America, South America, and Middle East and Africa) |
| Region Covered |
APAC, Europe, North America, South America, and Middle East and Africa |
| Key companies profiled |
Boba Box, Boba Tea Direct, BossenStore, Bubble Tea House Co., Bubble Tea Supply, Chen En Food Product Enterprise Co. Ltd., Empire Eagle Food Co. Ltd., Europe BoBoQ GmbH, Fanale Drinks, Fokus Inc., HUEY YUHE ENTERPRISE CO. LTD., Karat by Lollicup, Krishna Food India, Possmei International Co. Ltd., Sumos M Sdn Bhd., Sunnysyrup Food Co. Ltd., Sunwide Bubble Tea, Troika JC, and Yen Chuan International Co. Ltd. |
Key Market Trends Fueling Growth
Bubble tea vendors offer a diverse range of flavors, including peach, strawberry, almond, and chocolate, attracting consumers with varied taste preferences. In June 2021, McDonald's Corp. Introduced two new bubble tea flavors - malty chocolate Ovaltine and aromatic matcha. Young consumers, particularly millennials, are experimenting with new bubble tea flavors, encouraging vendors to innovate. Retailers are developing customized tea formats to cater to consumer demands, contributing to the growth of the global bubble tea market.
The Bubble Tea market is experiencing in popularity, with major players like Guming Holdings, Koi The Co, and Moge Tee leading the charge. Flavors such as Lychee, Mango, Passion fruit, Peach, Plum, Strawberry, Avocado, Banana, Grape, Kiwi, Lemon, and more, are driving sales. Hot beverages, tea, and coffee are joined by nootropic drinks, offering low-calorie contents and zero fat options. Health experts praise the concentration and brain function benefits, while consumers enjoy the flavors and ice-cold beverages. Raw material supply, including jelly-like pearls made from tapioca, raw ingredients, and sugars, are crucial. However, health risks such as obesity, heart disease, cognitive decline, and cancer, remain concerns. Balancing flavors, ice, and sugar levels is key. Black tea and green tea offer antioxidants, while managing blood sugar levels, bad cholesterol, and gut health are important considerations.
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Market
Challenges
The global bubble tea market may experience limitations due to challenges in tea and cassava production. Climatic changes negatively impact tea production by affecting crop yield and quality, leading to potential shortages and increased prices. Additionally, the production of cassava, a key ingredient for tapioca balls, is being hindered by factors such as low soil fertility, labor shortages, and competition from weeds. This decrease in cassava production and subsequent increase in prices can hinder the growth of the global bubble tea market during the forecast period.
The Bubble Tea market faces several challenges in 2023. Coffee shops and new entrants, including Nootropic drinks, pose stiff competition. Consumers demand low-calorie, zero-fat options, which can be a challenge for traditional recipes using raw materials like tapioca, jelly-like pearls, and flavored syrups. Health experts warn of potential health risks, including obesity, heart disease, cognitive decline, and cancer, linked to high sugar content and lack of nutritional value. Raw material supply and sustainability are also concerns. Innovations like using natural fruit flavors, such as watermelon, pineapple, cantaloupe, honeydew, and taro, and alternative sweeteners can help address these challenges. Additionally, offering healthier options, like green tea and black tea, with antioxidants, polyphenols, and anti-inflammatory properties, can cater to health-conscious consumers. Creamy, starchy textures and vanilla-like tastes remain popular, but balance is key. Caffeine and amino acid L-theanine can enhance concentration and brain function, making Bubble Tea an attractive choice for the young generation. However, managing health risks, maintaining consistent quality, and keeping up with evolving consumer preferences will remain key challenges for the industry.
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Segment Overview
This bubble tea market report extensively covers market segmentation by
Product
1.1 Black tea
1.2 Green tea
1.3 Others
Flavor
2.1 Fruit flavor
2.2 Chocolate flavor
2.3 Coffee Flavor
2.4 Others
Geography
3.1 APAC
3.2 Europe
3.3 North America
3.4 South America
3.5 Middle East and Africa
1.1
Black tea-
Black tea, derived from the fully oxidized Camellia sinensis leaves, is the most consumed tea globally due to its flavor. Notable tea-drinking nations include the US, the UK, Turkey, and Russia. While the UK market experiences a slight decline, Turkey's consumption continues to grow. Kenya, India (Assam and Darjeeling hills), and Sri Lanka are significant producers. Darjeeling's black tea, known as the "champagne of tea," is highly regarded. Key bubble tea market segments include black tea, which was the largest in 2022. The market's growth is driven by the high consumption of black tea and vendors' diverse product offerings, such as tea bags, leaves, and powder.
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Research Analysis
The Bubble Tea market is experiencing a significant in popularity, particularly among the young generation. This trendy beverage, also known as Boba tea, is enjoyed for its unique combination of tea, milk, and chewy tapioca pearls. Flavors like Momentum Work's original tea, Guming Holdings' Milk Tea, Koi The Co's Taro Slush, and an array of fruit flavors such as Lychee, Mango, Passion fruit, Peach, Plum, Strawberry, Avocado, Banana, Grape, Kiwi, and Lemon, cater to diverse taste preferences. Nootropic drinks, low-calorie contents, and zero-fat options are also gaining traction, making bubble tea an appealing choice for health-conscious consumers. However, concerns over high sugar content, potential health risks including obesity, heart disease, cognitive decline, and cancer, remain a concern. Raw ingredients and alternative sweeteners are being explored to address these concerns while maintaining the authentic bubble tea experience. Coffee and tea continue to be popular base options, adding to the market's versatility.
Market Research Overview
Bubble tea, also known as boba tea, is a popular beverage originating from Taiwan that has gained worldwide recognition for its unique flavors and textures. This refreshing drink is made with a base of tea or coffee, often infused with various fruits such as Mango, Passion fruit, Peach, Plum, Strawberry, Avocado, Banana, Grape, Kiwi, Lemon, and more. The drink is then topped with jelly-like pearls made from tapioca or other raw materials, creating a delightful contrast of flavors and textures. Bubble tea can be enjoyed as a hot beverage during colder months or as an iced drink in warmer weather. Health experts praise its potential benefits, including improved concentration and brain function, while some flavors are rich in antioxidants, polyphenols, and anti-inflammatory properties. However, be mindful of sugar content, as many bubble tea drinks can be high in calories and contain added sugars. Raw material supply, including tea leaves, fruit flavors, and raw ingredients, is crucial to maintaining the quality of bubble tea. Popular flavors like Fruit Tea, Nootropic Drinks, and Low-calorie contents continue to evolve, catering to various tastes and health-conscious consumers. Despite its potential health benefits, bubble tea should be consumed in moderation due to health risks such as obesity, heart disease, cognitive decline, and cancer. The young generation's fascination with bubble tea's unique flavors, textures, and Instagrammable presentations continues to fuel its popularity.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
Product
Black Tea
Green Tea
Others
Flavor
Fruit Flavor
Chocolate Flavor
Coffee Flavor
Others
Geography
APAC
Europe
North America
South America
Middle East And Africa
7
Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email:
[email protected]
Website:
SOURCE Technavio
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