Signs Your Twin Flame Is Thinking Of You, Articles B

87% of American millennials drink tea, including bubble tea. Pune, India, Oct. 26, 2021 (GLOBE NEWSWIRE) -- The global bubble tea market size is expected to reach USD 3.39 billion by 2027 . In the Tea segment, volume is expected to amount to 18.6mkg by 2025. Lycopene Food Colors Market Growth: The overall demand for lycopene food colors is slated to grow at a prolific CAGR of 10.7% during the forecast 2022-2032, totaling US$ 257 Mn by 2032. The Middle East & Africa showcases a slower growth as pearl milk tea is consumed as a social drink or as a gesture of hospitality. Future Market Insights Global and Consulting Pvt. By the toppings segment, pearls are anticipated to grow at a prolific CAGR of 10.3% with more than 35% of the global market share. About 200 million pounds of tea leaves (bagged & loose) are shipped into the United As more and more consumers become aware of the negative effects of sugar consumption, the sugar-free or reduced sugar segment of bubble tea is expected to gain popularity. Bubble tea got its name from the tapioca balls because when theyre added to the drink and shaken, the balls expand and pop, creating a popping soundor bubbling.. The incredible success of bubble tea in China since 1996. Get a Sample Copy of the Report @ https://www.futuremarketinsights.com/reports/sample/rep-gb-12310. In 2016, 19.4 per cent of Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA. 7.1% consumed diet drinks daily. Each . Cook for about 20 minutes. As per the report, sales will increase at a 4.2% CAGR over the forecast period, reaching US$ 354.6 Mn by 2032. The 30 Tea Drinkers vs. Coffee Drinkers Statistics. The types include milk tea, black tea, fresh fruit tea, smoothies or milkshakes, fresh milk, and salted cream. The rise in online food delivery (OFD) applications has increased access to a myriad of ready-to-eat options, which may lead to unhealthier food choices. Rinse, drain, and refrigerate until chilled. The bubble tea market was valued at $2.4 billion in 2019 and is estimated to reach $4.3 billion by 2027, registering a CAGR of 7.80% from 2020 to 2027. 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. Rising consumption of tea and coffee as nootropic drinks among students and working-class population is a key factor for the market growth. Aug 16, 2022, 1:25 PM SGT. The bubble tea industry was valued at $2.2 billion in 2019. The at-home market, also called off-trade market, covers all retail sales via super- and hypermarkets, convenience stores or similar sales channels. Add the ice cubes, and shake so the whole drink can get cold. Awareness about health issues and their relation to meat consumption has resulted in a shift towards vegan and plant-based diets. Theory seemed to meet reality . Bubble tea brands expected to produce novel and unique products over the forecast period. Bubble tea consumption gender-wise: According to the statistics, bubble tea is a favorite drink of women. "Market Intelligence that Adds Flavour to Your Success", Region : Global | Format: PDF | Report ID: FBI101564. Apart from this, coffee flavor is also anticipated to hold a strong market share in the forecast period owing to the escalated demand for coffee as a healthy beverage. https://www.fortunebusinessinsights.com/industry-reports/bubble-tea-market-101564, Yummy Town (Cayman) Holdings Corporation (Happy Lemon) (Taiwan), Granular Research on Specified Regions or Segments, Companies Profiled based on User Requirement, Broader Insights Pertaining to a Specific Segment or Region, Breaking Down Competitive Landscape as per Your Requirement, Other Specific Requirement on Customization. According to the Food and Agriculture Organization (FAO) of the United Nations, Nigeria is the largest exporter of cassava at 21% of the worlds amount. This bubble tea craze has taken over. It is made using green tea, white tea, black tea, or oolong tea. Additionally, they can be ordered with fruit or boba, both of which are high in added sugar. The global bubble teamarket holds a substantial scope for growthduring the forecast period. Australia: 0.75 kg (1.65 lb) 17 Who are the leading players in the market? Thank you!, I recommend Fortune Business Insights for their honesty and flexibility. In this era, the growing consumer preferences for products depend on various factors such as choice of taste, price, brand, and location accessibility. The report was very accurate and as per my requirements. Black tea is the most consumed tea around the world. This, along with the rise in dairy alternatives is fueling market growth of bubble tea in the U.S. China bubble tea market is forecasted to grow at a 7.5% CAGR. Quinoline Yellow WS Market Analysis: The global quinoline yellow WS (water soluble) market is projected to reach a valuation of US$ 28.5 Mn in 2022, growing at a CAGR of 3.9% between 2022-2032. Contact Sales for Further Assistance in Purchasing this Report @ https://www.futuremarketinsights.com/checkout/12310. The major countries in each region are mapped according to their revenue contribution to the global bubble tea market. In addition, as Europe is not highly indulged in tea production and mostly relies on other regions for the supply of tea, it somehow limits the market growth. 17 Aug 2022 12:37PM (Updated: 17 Aug 2022 06:16PM) SINGAPORE: Bubble tea lovers in Southeast Asia spend US$3.66 billion a year on the beverage and similar "new tea" drinks, with Singapore . +44 208 097 3636. 12. It also offers a detailed analysis of the market size and growth rate for all possible market segments. The value of its market is estimated to be $5.2 billion. The drink became popular during the 1990s, just in time for millennials to develop a taste for it. However, since the ease of lockdowns, governments have proposed several initiatives and strategies to help the companies in recovering the losses across the globe. For better delivery of our new release, Please help us undestand your interest Industry and Frequency that you prefer to get the new releases. A South Australian Health Omnibus Survey (SAHOS) done in 2014 showed that there was a . I hope you learned something from it, even if it was that you should lay off the bubble tea because really, you probably have had enough of that stuff by now. For instance, in September 2020, Chen Shucheng started a new bubble milk tea franchise in Singapore called Meme Xpress. Heycha and Yicha both have similar-sounding names and include refreshing fruit teas as part of their star offerings. The global market is projected to reach US$ 194.7 Bn by 2032. Theres a lot more to bubble tea than meets the eye, and weve discovered all of the reasons that its a global favorite. 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. Bubble tea, also known as Boba or Boba tea, is rapidly becoming one of the worlds favorite beverages. These latest product ranges further act as a marketing strategy to attract a vast consumer base worldwide. Interesting Facts. There are many varieties of the drink with a wide range of ingredients. In the Philippines alone, orders increased by 3,500 percent from June to December 2018. Bubble tea typically sells for about $3 to $5 for a 16- to 20-ounce serving. . Bubble tea is a sweet, delicious drink typically made from a tea base that is then mixed with either milk or fruit flavoring. Such initiatives further support the immense growth opportunities for the companies. Per Capita Global Tea Consumption Patterns Americans consume more than 50 billion servings of tea a year, nearly 85% of which is iced. Bubble tea is a drink made from tea (usually black tea), milk, syrup, and a special ingredient that captivates the hearts of Chinese people: tapioca pearls. The global bubble tea market size was valued at USD 2.17 billion in 2021. Just over half (52%) of all free sugars consumed were from beverages, led by soft drinks, sports and energy drinks (19%), fruit juice and fruit drinks (13%), with the sugar added to beverages such as tea and coffee contributing 7.3% and . Bubble tea first appeared in Thailand ten years ago, but since has gone out of market trend, staged a strong comeback, and established itself in the region. These organizations are focusing on product innovation and targeting the millennial consumer as the group is known for its willingness to experiment with new flavors. Coffee and tea are the most consumed as well as socially accepted nootropic beverages across the world, and many consumers are highly dependent on such caffeinated drinks before starting their day. October 26, 2021 13:00 ET | Source: Fortune Business Insights. Tea, from the plant Camellia sinensis, is consumed in different parts of the world as green, black, or Oolong tea.Among all of these, however, the most significant effects on human health have been observed with the consumption of green tea [].The first green tea was exported from India to Japan during the 17th century. Why buy this report? Moreover, based on the study by the finance-based startup, Momentum Works and payment startup, Qlub, Indonesias bubble milk tea market ranked first among all the Southeast Asian countries. The segment is expected to display an 11.4% CAGR, and account for more than 38% of the global market share. FB : Beverages| Pages: 261 | Author(s) : Vaibhav S , Roshan D, Single User License, Five User License & Enterprise User License. Bubble Tea Popularity Statistics Singapore; by palmebre Published: July 20, 2021 (2 days ago) Category. Asia-Pacific (APAC) dominates the bubble tea market because of the high consumption of the bubble tea within the region. 13. Revenue in the Tea segment amounts to US$1.40bn in 2023. Tea is an aromatic beverage derived . 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 United States and Australia were both introduced to bubble tea in the mid-1990s, and it has been growing in popularity ever since. China is a major bubble tea manufacturer. Teenagers and people in their 20s consistently account for the highest consumer percentage of bubble teas. This means, market totals are not comparable to published data from prior years. To get the sample of bubble tea market report, click on the link (Please paste the link here). All these aspects necessitate the manufacturers to develop premium quality teas by keeping the consumer demands in mind. Gain competitive intelligence about market leaders; Track key industry trends, opportunities and threats; Inform your marketing, brand, strategy and market development, sales and supply functions Consumers are shifting toward natural and organic food and beverage products, which is one of the major factors that would help in the growth of this segment in the market. This is a very good piece of work and will be very helpful to us going forward. Furthermore, a decline in the growth of bubble tea consumption is witnessed due to strong restrictions on import and export facilities. Read More . In Asia, however, it is equally popular among men and women and is seen as a cultural phenomenon. Pour tea, milk, and 4 teaspoons sugar into a cocktail shaker. By base ingredient, it is divided into black tea, green tea, oolong tea, and white tea. However, the sweeteners segment is expected to witness the highest growth, owing to rise in demand for sweet beverages across the globe. 7.3.9.1. 4. The appearance of the finished drink is what led to its name. Unilever (Lipton), Associated British Foods (Twinings) and Tata Global Beverages (Tetley) are globally the most important players by revenue. In fact, tea was aboard the First Fleet in 1788. Moreover, European and other Scandinavian countries are prominent followers of tea and coffee cultures, and thus are keenly interested in experimenting with new types of fruity flavors, herbal, and pearl milk teas. According to the report, bubble tea orders had increased at a whopping 3,000 percent in 2018. This was attributed to rise in the fitness conscious people across the globe. Reduced sugar/ sugar-free bubble tea will gain traction over the assessment period. Synthetic Food Colors Market Outlook: The global synthetic food colors market size is estimated to be valued at US$ 590 Mn in 2022 and is further expected to grow at a CAGR of 6% between 2022 and 2032, surpassing a valuation of US$ 1,066 Mn by the end of 2032. Today, millennials, zennials, and gen z account for the vast majority of the countrys bubble tea consumption. After experiencing a downfall due to fierce market competition in 2003, the bubble tea market was revived in 2007 with the entry of several foreign brands. The research report includes quantitative and qualitative insights into the market. Also, due to the strong dependency on Asian countries to source raw materials, such as tapioca balls, from Taiwan, it hinders the production process and impacts their overall operations. The report covered all the points and was very detailed. At the end of the day, its not much worse than an occasional soda would be for the average person, but its important to remember to only have bubble tea once in a while. This segment is expected to grow significantly throughout the forecast period due to its high nutritional value as compared to other flavors, high popularity of tea-based fruity beverages, and high consumer preference. Italy's economy contracted by 0.1 per centquarter-on-quarter in the final three months (Q4) of last year, thecountry's National Institute of Statistics (ISTAT) said.On a year-on-year basis, gross domestic product (GDP) in the quarterincreased by 1.4 per cent, against the originally estimated 1.7 percent, reports Xinhua news agency citing ISTAT . Keep reading to discover everything weve uncovered about bubble tea. Most bubble tea recipes contain a tea base mixed with fruit or milk, to which chewy tapioca balls (known as bubbles, pearls, or boba) and fruit jelly are often added. The best of the best: the portal for top lists & rankings: Strategy and business building for the data-driven economy: The Hot Drinks market segment, Tea, consists of black tea, green tea and mate sold in tea bags or as loose-leaf tea. If theres one thing you can count on, its that bubble tea is going to be more popular among women than men. The report provides a quantitative analysis of the current bubble tea market trends, estimations, and dynamics of the market size from 2019 to 2027 to identify the prevailing opportunities. https://www.grandviewresearch.com/industry-analysis/bubble-tea-market, https://foodinstitute.com/focus/survey-millennials-gen-z-big-fans-of-bubble-tea/, https://youthinsight.com.au/brands/more-girls-aware-of-bubble-tea-than-boys/, https://www.cnn.com/travel/article/taiwan-bubble-tea-origins/index.html, https://www.duluthnewstribune.com/8-things-you-might-not-know-about-bubble-tea-and-other-unexpected-holidays-this-week, https://www.fortunebusinessinsights.com/industry-reports/bubble-tea-market-101564, https://www.organicfacts.net/health-benefits/herbs-and-spices/bubble-tea.html, https://chinamarketadvisor.com/what-is-boba-and-why-is-it-so-popular/, https://theaseanpost.com/article/southeast-asias-bubble-tea-craze, https://www.worldteanews.com/Insights/millennials-and-gen-z-drive-21st-century-tea-preferences, https://www.honestfoodtalks.com/bubble-tea-flavors-boba-toppings/, https://www.healthline.com/nutrition/boba-cancer, https://mtalvernia.sg/education/whats-in-my-bubble-tea/, Tea thats infused with milk or another liquid, Artificial sweetener like stevia or sugar (more on this below), Special straws designed to make the best bubbles possible. For people aged 71 or older, the figures were substantially lower, at 1,584 grams and 1,532 grams, respectively. The chewy tapioca balls or pearls are undoubtedly the stars of any bubble tea drink. 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. The market is anticipated to be valued at US$ 46.0 Mn in 2032. The devotion to bubble tea is so fanatical that in 2020, at the cusp of the circuit breaker, an argument broke out between a food rider and store employees about a hold-up in orders. In 2020, China dominated the tea market with 78.7 billion US dollars of revenue. CXOs from the leading companies perceive that product innovation, development of newer flavor, and use of organic preservatives & color in the manufacturing process are the major areas of growth for the bubble tea market. Sunset Yellow FCF Market Sales: The sunset yellow FCF sales are slated to grow at a CAGR of 6.25% between 2022 and 2032, totaling a market valuation of US$ 150 Mn by 2032. We use cookies to enhance your experience. Thank you Fortune Business Insights for your efforts and prompt response, I had a great experience working with Fortune Business Insights. Tapioca pearls are made from cassava flour, of which Nigeria is the worlds largest exporter (21%). A. Although there are plenty of bubble tea flavors to choose from, fruit teas tend to be the most popular. Bubble tea truly is an international drink! Methods: Self-report questionnaires were used to assess bubble tea consumption and mental status. Apart from being a healthier alternative, becoming a trending beverage, especially among younger consumers, has also aided market growth for bubble tea. Ltd. NEWARK, Del, July 26, 2022 (GLOBE NEWSWIRE) -- The global bubble tea market is projected to reach a value of US$ 5.5 Bn by 2031, with sales growing at a robust CAGR of 8.8% for the forecast period of 2021-2031. Businesses that sell bubble tea (including those that serve other drinks, such as coffee and smoothies) face a lot of competition since there are many places where customers can find the same drink. Bubble tea has a milk base and includes ingredients like chewy tapioca balls, or fruit jelly and boba. Tapioca balls or "pearls" are often added to the concoction as well. I appreciate the timeliness and responsiveness of you and your team., (applicable to 1 report only for the same license type), The global bubble tea market is projected to grow from $2.29 billion in 2022 to $3.78 billion by 2029, at a CAGR of 7.40% in the forecast period, 2022-2029, 2020 Fortune Business Insights . Bubble Tea originated in Taiwan in the early 1980's at a small tea stand. 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. The industry shows no signs of slowing down, and in fact, appears to be growing exponentially with every passing year. The boba tea trend continued to soar in its originating region and later spread its attractiveness in other western countries, such as Canada and the U.K., and is now considered a mainstay due to its unique formulation. Background: Bubble tea has become enormously popular in China in recent years. Required fields are marked *. According to a recent consumer study, 94% of people between ages 20 and 29 have purchased bubble tea within the last 3 months. Between 2021 and 2028, the global tea market is expected to grow at a CAGR of 6.6%. The bubble tea market in Singapore has a long history and is expected to exhibit a prosperous future with a CAGR of 10.7% over the forecast period. Moreover, as per researches conducted by different reputed organizations, tea is proven to prevent different type of cancers, lower cholesterol, help boost immunity, facilitate weight loss, and prevent neurological diseases.This indicates that the health benefits associated with bubble tea are anticipated to drive the overall market. Insights. Looking forward to work together on similar projects, We appreciate the teamwork and efficiency for such an exhaustive and comprehensive report. 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. According to the Indian Tea Association 2020, tea price has risen by 25%-40% on an average due to lockdown in the tea growing regions, leading to a drop in crop size along with disruptions in transportation and logistics. Almost overnight bubble tea shops popped up around the world in multiple countries that had never had an interest in it before. A study conducted by the Tea Board of India revealed some interesting consumption patterns among Indian tea drinkers: About 80% tea drinkers in India consume it either with or before breakfast . The outbreak of COVID-19 forced government bodies to impose strict closure of restaurants, farms, and factories to maintain safety measures and implement social distancing. Emerging countries such as China, India and Brazil growing with the CAGR of 8%, 9.5%, and 8.3% respectively. Bubble tea is drunk by millions of people around the world every single day, even in countries that you might not expect! 11.2% of Victorian adults consume sugar sweetened beverages daily. Bubble tea typically sells for about $3 to $5 for a 16- to 20-ounce serving. There are 250 different flavors of bubble tea. Consumption of sugar sweetened and diet drinks in adults. In-depth analysis and the bubble tea market size and segmentation assists in determining the prevailing bubble tea market opportunities. The market player positioning segment facilitates benchmarking and provides a clear understanding of the present position of the market players in the industry. Increasing Inclination of Consumers toward Versatile Teas with Innovative Bold Flavors is a Prominent Trend. Adults' total beverage consumption drops steadily with age. In relation to total population figures, per person revenues of US$53.14 are generated in 2023. China is one of the prominent regions in the market that accounted for a sizeable share of the total market in 2019. In addition, due to the presence of artificial preservatives in bubble tea, consumers are changing their preference toward organic beverages, which hampers the growth of the global bubble tea market.